Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Evolve Bank & Trust - NMLS #275652
RECENT BLOG POSTS
http://MikesDailyMarketReport.com:  The Markit PMI released their data for 2 sectors, Manufacturing and Services for the month of April.  The Manufacturing rose to 59.7 in April; while Services dropped to 54.7.  Anything above 50 is considered expansion.  Investors continue to review the Q1 Corpo...
04/22/2022
http://MikesDailyMarketReport.com:  Manufacturing in the Philadelphia region dipped in April, as the Philly Fed Index dropped from 27.4 in March to 17.6 in April.  The number for April is still pretty good, but the steep decline is something to monitor.  Meanwhile, Initial Jobless Claims dropped ...
04/21/2022
http://MikesDailyMarketReport.com:  Existing Homes sales dropped by 2.7% in March, as the seasonally adjusted units were lowered to 5.77 million.  This is mostly due to low inventories.  Investors are reviewing Q1 Earnings reports, which Netflix is in the headlines, as they reported a decline of ...
04/20/2022
http://MikesDailyMarketReport.com:  Housing starts rose 0.3% in March to 1.793 million seasonally adjusted units.  Also, Permits rose 0.4%, as it reached 1.873 million.  Both exceeded forecasts; especially as confidence with Home Builders dropped 2 points for April, so next month's release will b...
04/19/2022
http://MikesDailyMarketReport.com:  This week will feature a lot of Housing data, so stay tuned!  Today, we have the NAHB Home Builders Index for April, which dropped by 2 points to 77.  This measures the Home Builders confidence, which has lessened to the spike in Mortgage Rates in 2022.  Invest...
04/18/2022
http://MikesDailyMarketReport.com:  Initial Jobless Claims rose 18k to 185k last week; however, the Continuing Claims declined.  Retail Sales rose only 0.5% in March, as gas prices and inflation seem to be affecting many US households and their buying behavior.  But in April, Consumers felt a bit...
04/14/2022
Hi All,Just wanted to share with you regarding our new Loan Program for Medical Professionals.  Most of these similar loans are geared to Doctors, but we included more professions within the Medical field.  As a matter of fact, we announced today that Physician Assistants will be included as an e...
04/13/2022
http://MikesDailyMarketReport.com:  The Producer Price Index (PPI), which measures inflation on the Wholesale side, was released today for March.  The PPI rose by 1.4% in March, while it's YoY increased by about 1% to 11.2%.  The Core PPI (which excludes food and energy) rose 1.0%, while it's YoY...
04/13/2022
http://MikesDailyMarketReport.com:  The Consumer Price Index (CPI) rose 1.2% in March and it's YoY rose to 8.5%, which is the hottest number since 1982!  However, it's Core CPI (excludes food and energy) rose only 0.3% and it's YoY rose to 6.5%.  The Core CPI data came in lower than forecasts, wh...
04/12/2022
http://MikesDailyMarketReport.com:  There are no Economic data to report today.  This week will be mostly inflation data being reported (CPI and PPI), which will have an impact with the Markets.  Today, there was a 3 year Treasury Auction, which didn't have any impact.  Investors will look ahead ...
04/11/2022