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New York Mercantile Exchange › (NYMEX:UX.N13.E)


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Today's Financial News

Average US rate on 30-year mortgage up to 3.87 pct.; 15-year at 3.11; highest levels this year

5 hours ago

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week to their highest level so far this year as new data showed strength in the housing market. Rates have risen in recent weeks amid signs of improvement in the economy. A government report issued Tuesday showed that more Americans bought new homes in April, evidence that the stronger job market is propelling the housing market. New-home sales climbed 6.8 percent last month to a seasonally adjusted annual rate of 517,000.

Huge changes, challenges about to hit New Jersey casino market as Meadowlands plan advances

5 hours ago

ATLANTIC CITY, N.J. (AP) — The ground is moving underneath New Jersey's casino market, which is facing the biggest changes and challenges since it began 37 years ago. The proposal from Hard Rock and the Meadowlands comes as Atlantic City lost four of its 12 casinos last year. Speaking Thursday at the East Coast Gaming Congress, track owner Jeff Gural said the Meadowlands casino could provide $500 million a year in taxes, $200 million of which would go to help Atlantic City.

Signed contracts to buy US homes rise 3.4 percent in April, strongest level in 9 years

5 hours ago

WASHINGTON (AP) — Americans signed contracts to buy homes in April at the fastest pace in nearly nine years, evidence that steady job growth is strengthening the real estate market. The upswing comes after a year of strong hiring, which has heightened demand to buy houses. Increased sales should help bolster the economy, but the surge could potentially destabilize the housing market. Inventories remain low, and rising home values are eclipsing wage growth.

Struggling Atlantic City sues over $3M it gave to company that failed at unusual loan program

5 hours ago

ATLANTIC CITY, N.J. (AP) — A loan program that was supposed to lend as much as $40 million to struggling homeowners and businesses in this cash-strapped resort city has given out nothing and has instead led to a federal lawsuit. The company is partially owned by relatives of a former Langford aide, The Associated Press found. The company used most of the city money to buy a finance firm in Tennessee that has since had management of more than $6.6 million in government-backed loans taken away by the Small Business Administration.

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