New commerce secretary has Oregon ties

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)...

Consumers feeling good

A rush on home-purchase mortgages pushed application totals up 5.5% last week. Volume is 10% higher than a year ago. Applications to purchase a home jumped 19% on the week and is now 11% higher than a year ago. The interest rate for 30-year fixed mortgage increased to...

And the rally continues!

The S&P 500, Dow Jones, the Nasdaq and the small cap Russell 2000 hit their all-time peaks simultaneously yesterday for the first time since December 31, 1999. This comes as companies ended a five-quarter profit growth decline. (Bloomberg) Since Trumps election,...

Some good economic data

U.S. import prices climbed higher for a second straight month in October. Import prices increased 0.5%. In the last 12 months import prices fell 0.2%, the smallest decrease since July 2014. Imported petroleum prices surged 7.5%, imported capital goods dropped 0.2%,...

Oil hits 15 month high

Mortgage application volume ground out a 0.6% increase last week according to the Mortgage Bankers Association. Applications are 18.5% higher than a year ago. Mortgage applications to purchase a home are 13% higher than one year ago. Refinance applications are up...

Retail sales jump

Wells Fargo’s had quarterly profits down 3.5% at $5.6 billion. Wells Fargo revenue in the quarter was $22.33 billion, up 2% from a year earlier. It is too early to see the total, long-term impact the recent fraud and scandal will have on Wells’ bottom...