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According to the Mortgage Bankers Association mortgage applications to purchase a home fell 5 percent for the week to the lowest level in two years. Purchase applications were 0.2 percent lower than a year ago. Mortgage applications to refinance fell 3 percent last week and are 33 percent lower than a year ago.

 

Trump critic and Wall Street foe, Rep. Maxine Waters, will take control of the House's financial services committee. She has been the top Democrat on the banking panel since Barney Frank retired in 2013. (CNBC)

 

Kraft Heinz is selling its Canadian natural cheese unit to Italy's Parmalat for $1.23 billion. (CNBC)

 

The Girl Scouts has filed a trademark infringement lawsuit against the Boy Scouts of America after the Boy Scouts decided to drop "Boy" from its namesake program and start welcoming older girls. The Girl Scouts, founded in 1912, are trying to avert an erosion of its brand and membership. (CNBC)

 

The S&P 500 is down 10 and the NASDAQ is down 54. MSCI International index is lower.

Oil is down 92 cents at $59.75 a barrel.

Gold is down $7 at $1218 a Troy ounce.

 

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

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