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Daily Market Report 8/23/16

By Mike Bjork

Mortgage and Lending with Evolve Bank & Trust NMLS #275652

August 23, 2016 02:54 AM

http://MikesDailyMarketReport.com: Provides the mortgage interest rate trends and navigates through the current interest rates for home loans. Mike Bjork provides this daily service by watching the interest rates in California by projecting his thoughts on the mortgage interest rates forecast. By trade, Mike Bjork is a Sr. Mortgage Planner.

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Grant Schneider

Performance Development Strategies - Armonk, NY

Your Coach Helping You Create Successful Outcomes

Hi Mike - you a providing a nice recap here with all of the important stats. Nice job.

Aug 23, 2016 06:42 AM

Mike Bjork

Evolve Bank & Trust - Redondo Beach, CA

Thanks for the comments, Grant. I appreciated your post earlier today too. I thought it might be useful to provide people information regarding what aspects of the economy is influencing interest rates and their trends. I'm glad you liked it.

Aug 23, 2016 08:34 AM

Bruce Walter

Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Mike, very in depth summary and analysis on current mortgage interest rate trends. Do you anticipate anything on the horizon that would cause a huge stock market correction in those dreaded Fall months of September or October?

The housing numbers seem encouraging!

Aug 24, 2016 01:17 AM

Mike Bjork

Evolve Bank & Trust - Redondo Beach, CA

I think it's still early to tell with Brexit, but so far investors haven't been as concerned with it (they had decent Manufacturing numbers yesterday). Personally, I think the Stock Market is a bit inflated because they're getting too excited over beating estimates, which those same estimates are very low to begin with. Currently, they're waiting on Janet Yellen to speak on Friday because there's been a lot of Hawkish comments by other Fed Governors. If Janet Yellen has a Hawkish tone on Friday, then I think you'll see the Stock Market come down a bit. I'm seeing a number of Economists whom are projecting a possible recession within the next 12 months. I wouldn't be surprised, as we've been teetering the line for awhile now. Hope this helps. BTW-love the family pic in Maui. I've visited there once and found it very beautiful, probably my favorite of the islands.

Aug 24, 2016 01:33 AM