Real estate blog entries tagged with interest rates by Mike Bjork (Evolve Bank & Trust)

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interest rates: Daily Market Report 9/22/20 - 09/22/20 08:49 AM

http://MikesDailyMarketReport.com: Existing Home Sales improved from 5.86 million annualized units in July to 6.00 million in August. Meanwhile, Stocks are trading in Mixed Territory, as the DOW is lone index in the Red. Some of the sentiment from yesterday is continuing into today's trading. Investors are watching for possible renewed lockdown measures in Europe; and the heated debates between the 2 political parties regarding the replacement of RBG and any stimulus packages. Treasury Mnuchin and Fed Powell are testifying before House Finance Committee this morning. MBS is only Up 2bps, so Mortgage Rates remain Unchanged today. Yields having swings that challenge … (1 comments)

interest rates: Daily Market Report 9/21/20 - 09/21/20 09:31 AM

http://MikesDailyMarketReport.com: There are no economic data to report today, so Markets are looking to the headlines today. Stocks are WAY Down this morning on concerns of more restrictions in Europe, as they saw some of their COVID Cases rise. Also, a major news article from Buzzfeed, which other outlets followed, on some Major Banks working with some very notorious people (not in a good way) on Money Laundering schemes. Also, Investors are seeing if there is any impact on the death of US Justice Ginsberg and possible replacement, as politics heats up. They're also watching for any news on an Stimulus … (0 comments)

interest rates: Daily Market Report 9/18/20 - 09/18/20 09:41 AM

http://MikesDailyMarketReport.com: The Consumer Sentiment improved so far in September, as it jumped to 78.9 from August's 74.1. The Leading Economic Indicator had a positive revision in July, going from 1.4% to 2.0%; however, it dropped to 1.2% in August. Stocks are all in the Red this morning, threatening to ruin this week's gains in the Market. There is a Quadruple Witching in today's trading action, which will create a lot of this volatility in the Stock Market. We had a few Fed Speakers speak today, which are having some impact, especially with the Bond Market, as Fed Member Bullard discussed possibilities … (0 comments)

interest rates: Daily Market Report 9/17/20 - 09/17/20 09:23 AM

http://MikesDailyMarketReport.com: The initial Jobless Claims reported 860k people applying for first time unemployment last week, which is down from 893k in it's previous report. Housing Starts pulled back in August, as it went from 1.49 million annualized units in July to 1.42 million in August. Also, Building Permits dropped from 1.48 million in July to 1.47 million in August. Manfacturing in Philadelphia region was down a little bit, but still in decent territory, in it's September report for Philly Fed Manufacturing, as it came in at 15.0. Stocks are Down this morning, as Investors' mood were less optimistic of a quick … (3 comments)

interest rates: Daily Market Report 9/16/20 - 09/16/20 09:06 AM

http://MikesDailyMarketReport.com: Retail Sales MoM of 0.6% was a bit of disappointment for Investors this morning; and when you exclude Autos, it only went up 0.7% for August. Not to be surprised, but NAHB Home Builders Index rose from 78 to 83 in September, as confidence is rising among Home Builders. Business Inventories only increased by 0.1% in July. Stocks have been in Mixed Territory, but have since moved in Positive Territory, as it awaits the FOMC Announcement and it's Press Hearing. This will be a very interesting Press Hearing after the Fed announced a "Big" change to their policy about 2.5 … (0 comments)

interest rates: Daily Market Report 9/15/20 - 09/15/20 10:08 AM

http://MikesDailyMarketReport.com: The Manufacturing in the NY region spiked in September, as the Empire State Index reports it went from 3.7 in August to 17.0 in September. Industrial Production Index reported an increase of 0.4% in August; while Capacity Utilization improved from 71.1% in July to 71.4% in August. Stocks are Up this morning on some Tech News, as some Mergers being announced (like NVidia's announcement); and Apple will present some of their new product lines today. The FOMC begins their 2 day meeting today and provide their announcement tomorrow. This will be an interesting meeting, as media and investors have a … (0 comments)

interest rates: Daily Market Report 9/14/20 - 09/14/20 09:07 AM

http://MikesDailyMarketReport.com: We don't have any Economic Data to report today, but the rest of the week (starting tomorrow) will be full of reports. Today, Stocks are taking their queues from the headline news (namely reported over the weekend). Astra Zeneca announced they'll be re-starting their vaccine trials, after a pause when one of the patients mysteriously became ill. Pfizer reported that they're near end of trials and may have vaccines out by end of year. Also, it appears that Oracle may have become the winner of the TikTok sweepstakes, as several US companies were competing for it's rights. It was facing … (0 comments)

interest rates: Daily Market Report 9/11/20 - 09/11/20 09:54 AM

http://MikesDailyMarketReport.com: Today, we received data on inflation for Consumers with the Consumer Price Index, which had a MoM of 0.4% in Aug.; as did it's Core CPI (excluding food and energy). The Core CPI's YoY rose from 1.6% to 1.7%. We'll keep an eye on this data, as we'll want it to plateau at some point, and not go out of control. Meanwhile, there is light trading today in Stocks, which are all currently in Positive Territory. There is still some correction/re-balancing going on (especially with Tech Stocks); and Investors are growing pessimistic on a new Stimulus Bill prior to the … (1 comments)

interest rates: Daily Market Report 9/10/20 - 09/10/20 09:22 AM

http://MikesDailyMarketReport.com: Initial Jobless Claims remained unchanged from last week's report of 884k people applying for unemployment, which was a little hotter than it's forecast of 846k. Inflation in the Wholesale Sector rose in August, as the Producer Price Index rose 0.3% MoM; and it's Core PPI (excluding food and energy) rose 0.4%. Lastly, the Wholesale Inventories dropped in July by 0.3% MoM. Stocks are trading in Positive Territory this morning. The ECB gave their announcement earlier in the morning, as they left their interest rate at -0.5% and stated that they feel the Q3 and Q4 will show improvement. There were … (0 comments)

interest rates: Daily Market Report 9/9/20 - 09/09/20 09:24 AM

http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are finally Up this morning after a brutal few days of negative trading. AstraZeneca announced a delay with their vaccine, as they sort out a patient whom became sick without any explanation. Also, Joe Biden announced his proposal for a Corporate Tax that will punish those whom offshore their profits and incentives for those whom create jobs in the US. There's really no catalyst today that's a direct influence on the Markets. MBS is currently Down 8bps, as it re-tries to test it's 25 DMA. There is a 10 Yr Treasury … (0 comments)

interest rates: Daily Market Report 9/8/20 - 09/08/20 10:04 AM

http://MikesDailyMarketReport.com: The NFIB Small Business Index rose from 98.8 in July to 100.2 in August. This index indicates the confidence level for Small Business Owners, which make up the bulk of employment for US jobs. Stocks are taking another beating today. President Trump indicated over the weekend that he wants the US to not rely on China for manufacturing and wants to bring those manufacturing jobs back to the US. China's response was to start manufacturing their own microchips/processors and not be reliant on US Technology, which is especially hurting the Tech Stocks. Also, the CEOs for the Big Pharma companies … (1 comments)

interest rates: Daily Market Report 9/4/20 - 09/04/20 09:43 AM

http://MikesDailyMarketReport.com: Non-Farm Payrolls came in with 1.371 million new jobs for the month of August; and the Unemployment Rate dropped from 10.2% to 8.4%. Average Workweek hours slightly rose by 0.1 hrs to 34.6 hrs. Stocks are having another bad day, as Investors appear to be profit taking and rebalancing their portfolios. MBS is Down 19bps currently, as it dropped below it's 25 DMA and approaching it's 50 DMA, as it's next level of support. This will lead Lenders to price Mortgage Rates a little higher today than yesterday's pricing. Yields have climbed above several layers today and currently sit just … (0 comments)

interest rates: Daily Market Report 9/3/20 - 09/03/20 10:28 AM

http://MikesDailyMarketReport.com: Initial Jobless Claims dropped from an upward revised number last week of 1.011 million people applying for first time benefits to this week's 881k. The Final revision to Labor Costs dropped from 12.2% to 9.0% in Q2; and Productivity rose from 7.3% to 10.1%. ISM Non-Manufacturing PMI dipped from to 58.1% in July to 56.9% in August. However, the IHS Markit Services PMI increased from 54.8 in July to 55.0 in August. Anything above 50 in these 2 indices indicate growth/expansion. Stocks are WAY Down this morning, being led by Tech Stocks. This looks like a bit of a correction, … (0 comments)

interest rates: Daily Market Report 7/31/20 - 07/31/20 10:26 AM

http://MikesDailyMarketReport.com: Consumer Spending rose 5.6% in June; while Personal Income dropped 1.1% in June. The Fed's favorite index that gauges inflation Personal Consumption Expenditure(PCE) without the food and energy being added came in very tame in June, as it only rose 0.2% in Mom; however, it's YoY dropped from 1.0% to 0.9%. The last thing we want is inflation. The Employment Cost Index rose 0.5% in Q2. This is another inflationary data that the Fed likes to watch. This was fairly tame. Manufacturing in the Chicago area had good news, as the Chicago PMI came in at 51.9, which brought it … (0 comments)

interest rates: Daily Market Report 7/30/20 - 07/30/20 10:09 AM

http://MikesDailyMarketReport.com: Initial Jobless Claims had another little spike again this week, which it increased from last week's number of 1.42 million people applying for unemployment benefits for first time to 1.43 million in this week's report. Also, we get an initial look at the GDP for Q2, which went into the record books (not in a good way) at -32.9%; and Q1's GDP was -5.0%. Stocks are mostly in the Red, but NASDAQ is the lone index in Positive Territory. Some of the big Tech Stocks will be releasing their Earnings Reports after the bell tonight, which may influence tomorrow's trading. … (0 comments)

interest rates: Daily Market Report 7/29/20 - 07/29/20 09:55 AM

http://MikesDailyMarketReport.com: The Pending Home Sale Index rose 16.6% in June. Stocks are Up this morning before the FOMC finishes and Fed Chair Powell announces their decision at 11:30 am PST. They are not expected to change rates. Their Announcement may not have much impact with the Market today, as they pretty much said everything they wanted to say prior to the week before the FOMC. We're still getting Corporate Earnings Reports; and the Heads for the Big Tech Firms will be meeting before a House Committee today. MBS is Up 14bps, after closing up 30bps yesterday, which you should find better … (1 comments)

interest rates: Daily Market Report 7/28/20 - 07/28/20 09:38 AM

http://MikesDailyMarketReport.com: The Case Shiller HPI showed a slowdown in National Home Prices in May, as it dropped from 4.6% YoY Appreciation in April to 4.5%. I'm confident this will rise, as we head into summer. Consumer Confidence dropped from 98.3 in June to 92.6 in July, as several states increase further lockdowns. Confidence in economy growing was still growing. Stocks are in Mixed Territory this morning, as the S&P was the lone index in Positive Territory, and it was barely above water. MBS is Up 16bps, which will lead Lenders to provide better pricing today. We're in the 103 range on … (0 comments)

interest rates: Daily Market Report 7/27/20 - 07/27/20 09:27 AM

http://MikesDailyMarketReport.com: The Durable Goods Orders increased 7.3% in June, surpassing it's forecast of 6.5%. There will be other reports this week, which includes the first look at Q2 GDP; and the FOMC starts tomorrow, with their Announcement on Wednesday. Stocks are trading in Positive Territory, as many of the Big Tech Companies will release their Earnings Reports this week. We're still looking at tensions with China and increasing coronavirus infections. Some good news has the Republicans in agreement with each other on proposal for next Stimulus package, which will be brought to their counter-parts (Democrats) to negotiate. This could be a … (2 comments)

interest rates: Daily Market Report 7/24/20 - 07/24/20 10:17 AM

http://MikesDailyMarketReport.com: Markit Manufacturing PMI moved into Expansion territory in July, as it went from 49.8 in June to 51.3. Markit Services PMI improved in July, as it's June number was 47.9 and jumped up to 49.6 in July. Anything below 50 is contraction territory and anything above it is expansion on these reports. New Home Sales jumped up dramatically in June, as it went from 682k annualized units in May to 776k in June. Stocks are Down this morning over concerns of the growing tensions between US and China; and the lack of development in next Stimulus/Recovery Bill from Congress. MBS … (0 comments)

interest rates: Daily Market Report 7/23/20 - 07/23/20 09:24 AM

http://MikesDailyMarketReport.com: The Initial Jobless Claims for the first time since Feb/March, as last week's report was 1.31 million people applying for first time benefits to this week's report at 1.41 million. Leading Economic Indicators dropped from 3.2% in May to 2.0% in June. The rise in Jobless Claims spooked investors, as Stocks go into the Red this morning. They continue to look at Corporate Earnings Reports, but the next focus is the negotiations for the next round of Stimulus/Recovery package by Congress, as both Republicans and Democrats have a wide gap to bridge. This next round is expected to be more … (0 comments)

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