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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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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.