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President-elect Trump has picked investor Wilbur Ross for commerce secretary.  The new commerce secretary has ties to Oregon. His investment company WL Ross was one of the investors that bailed out Bank of the Cascades in 2010 and saved it from insolvency.  (CNBC)

Mortgage interest rates are at their highest level in over a year. Total mortgage application volume fell 9.4% week over week, but is only 0.5% lower than a year ago. Refinancing was down 16% for the week and is now down 3% from a year ago. A 30-year fixed-rate mortgage rate increased to 4.23% from 4.16% last week. (Mortgage Bankers Association)

Businesses are always evolving and changing – even the most traditional. Tobacco giant Philip Morris Internationals CEO Andre Calantzopoulos says they may eventually stop selling cigarettes.  He says alternative products like smokeless cigarettes, could eventually replace traditional cigarettes. (BBC)

Home prices were 5.5% higher year-over-year in September.  The home price index is now higher than its previous peak hit in July 2006. Portland prices were up 10.9%. (S&P CoreLogic Case-Shiller Index)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

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  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.