CSX first-quarter profits climbed

Mortgage applications decreased last week by 1.8% from the previous week. Total volume is down 23.5% from last year. The average interest rate for 30-year fixed-rate mortgage dropped to 4.22%. Mortgage rates dropped to their lowest level since November 2016. Applications to purchase a home fell 3% for the week and are up 1% from…

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Homebuilding fell in March

Homebuilding fell in March by 6.8% to an annual rate of 1.22 million units. Single-family homebuilding fell 6.2%. Multi-family housing starts dropped 7.9%. On a positive note building permits increased 3.6% with a 13.8% surge in multi-family units. (Commerce Department) Confidence among homebuilders remains high, according to the National Association of Homebuilder’s Housing Market Index…

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Horizon Air and pilots union reach labor agreement

Horizon Air and its pilots’ union have reached a labor agreement that will raise wages. Alaska Air Group, Horizon’s parent company and APA Teamsters Local 1224 announced the agreement on Friday. The union represents 675 pilots. (Oregon Live) Upside surprise to Chinese GDP. Chinese Q1 GDP was up 6.9%. Consumer spending is key to the…

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Producer prices fell

Producer prices fell in March by 0.1%. That is the first decline in seven months. The decline was led by the cost of services and energy products. Despite the monthly dip in prices, the PPI climbed 2.3% over the last year. That was the biggest gain since March 2012. (AP) Retail sales fell in March…

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Good Friday Message

It is Good Friday and markets are closed in observance of the Christian holiday. We will be back to trading at 6:30 AM Monday morning. So, take the day off from worrying about your well diversified portfolio and enjoy yourself. With that said here’s your wealth building tidbit of the day. When markets are going…

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Total mortgage applications up

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…

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