An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit, while some energy stocks are shooting upward.Marketsread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Supreme Court Justice Kavanaugh from when he was a Yale University student, noting that "the...Politicsread more
Mortgage applications decreased 2.3 percent from the prior week as interest rates ticked up slightly, according to an industry report.
The Mortgage Bankers Association reports that seasonally adjusted applications to purchase a home fell 3 percent, while refinance applications fell 2 percent.
"With rates little changed for the week, we saw a dip in application volume. It is important to note that purchase volume remains 7 percent above last year's level, and has been up on a year over year basis for 6 weeks now," said Mike Fratantoni, MBA's chief economist.
The contract interest rate on the popular 30-year fixed rate mortgage with a conforming loan balance ($417,000 or less) increased to 3.87 percent from 3.86 percent. Jumbo loans ($417 or higher loan balance) with the same term increased to 3.84 percent from 3.81 percent.
Tight credit continues to hold back the mortgage purchase business. Speaking at FSR's Housing Policy Council forum on Tuesday, Peter Carroll of Quicken Loans said the problem stems from regulations around income and appraisals. Income for borrowers who are self-employed or make much of their salary in bonuses are difficult to document. The home appraisal process is also tripping up borrowers without a lot of money for a down payment.
"We are seeing a chronic tightening of appraised values that very frequently come in below the sales price and when you are talking about consumers with lower down-payment loans, that's going to pull a lot of people out of eligibility with these products," said Carroll.
Regulators have taken steps to expand credit availability, putting in place low down payment loan option for Fannie Mae and Freddie Mac backed loans, decreasing fees for FHA loans, and working on a new credit score models to help more borrowers qualify for home loans.