Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Pinnacle Home Loan - NMLS #275652/1820
RECENT BLOG POSTS
http://MikesDailyMarketReport.com: The Markets will close at 11am PST today and will be closed tomorrow in observance of Independence Day. The data that would normally be released tomorrow, are released today. The big report, Nonfarm Payrolls provided 4.8 million jobs in June. Unemployment Rate f...
07/02/2020
http://MikesDailyMarketReport.com: The ADP had some great news today, as it revised it's May numbers from a loss of 2.76 million jobs to 3.065 million jobs created. The June numbers for June came up a bit shy of the 3.00 million forecast, which was 2.369 million jobs created. Also, ISM Manufactur...
07/01/2020
http://MikesDailyMarketReport.com: The lockdown didn't stop home values from rising, according to Case Shiller, as it's Home Price Index indicated that home values rose from 4.6% YoY in March to 4.7% in April. However, news weren't so great in Chicago, as manufacturing is still a concern. The Chi...
06/30/2020
http://MikesDailyMarketReport.com: After dropping 21.8% in April, Pending Home Sales rebounded in a big way in May, as it jumped up 44.3% in May. Stocks were a bit mixed this morning, as the NASDAQ was the only index in the Red this morning, but not by much. Coronavirus remain in the spotlight, a...
06/29/2020
http://MikesDailyMarketReport.com: Personal Income dropped by 4.2% in May; whereas, its counter-part, Consumer Spending rose 8.2% in May. Both the PCE and Core PCE rose by 0.1% in May. The PCE's YoY dropped from 0.6% in April to 0.5% in May; whereas, the Core PCE remained Unchanged at 1% in May. ...
06/26/2020
http://MikesDailyMarketReport.com: Initial Jobless Claims continue their trend downward, but not quite at the pace everybody wishes, as they to from 1.51 million people applying for first time benefits in last week's report to 1.48 million in today's report. Durable Goods Orders rebounded in May,...
06/25/2020
http://MikesDailyMarketReport.com: The FHFA Home Price Index pulled back in April, as it went from 5.9% YoY appreciation in March to 5.5% YoY in April. This will most likely begin to rise again, as the economy begins to reopen. Stocks are Down this morning over concerns of a possible 2nd Wave of ...
06/24/2020
http://MikesDailyMarketReport.com: We had some some improvement in both Manufacturing and Services sectors in the month of June, as the Markit PMI indicated with their indexes. The Markit Manufacturing PMI rose from 39.8 in May to 49.6 in June; and the Markit Services PMI rose from 37.5 in May to...
06/23/2020
http://MikesDailyMarketReport.com: Existing Home Sales dropped from 4.33 million annualized units to 3.91 million units in May. The forecast had it at 3.80 million. NAR stated that they feel this was the bottom, as they faced lockdowns from the pandemic, and lower inventory levels. Stocks are hig...
06/22/2020
http://MikesDailyMarketReport.com: Sorry for the audio in today's recording. I am currently experiencing technical issues with my video program, so I utilized the video recording embedded in PowerPoint. I hope to have this rectified for Monday's video. Back to the video: There are no data to repo...
06/19/2020
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