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Total mortgage applications were up 1.5% for the week, but is 21% lower than a year ago. Interest rates fell for the third straight week. Applications to refinance were unchanged for the week and are 40% lower than a year ago. Applications to purchase a home rose 5% for the week and are 3% higher than a year ago. (Mortgage Bankers Association)

Import prices fell 0.2% last month, their biggest drop in seven months, as the cost of petroleum declined. Prices for imported petroleum fell 3.6% in March. The year-on-year increase in import prices is 4.2 percent. Excluding petroleum, import prices have now increased for three straight months. Export prices rose 0.2% in March. Export prices increased 3.6% from a year ago, the biggest rise since December 2011. (Labor Department)

Private oil inventory data showed a 1.3 million barrel drawdown this week. The inventory data, supply disruptions, an in geopolitical tensions, and reports that the Saudis will agree to extend production curbs have fueled oil's recent winning streak. (LPL Research)

The latest Job Openings and Labor Turnover Survey revealed a 2.1% increase in job openings in February to 5.7 million, the highest level since July 2016.  Hires fell 2% month over month but remained near the best levels of the expansion. Year over year, openings were up 3.2% and hires were up 2.4%. (Labor Department)

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

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