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Sales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market LOS ANGELES -- Sales of previously occupied U.S. homes in September fell for the fourth month in a row, grinding to their slowest pace in more than a decade as prospective homebuyers grapple with surging mortgage rates and a near historic-low level of properties on the market. Existing home sales fell 2% last month from August to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors said Thursday. That’s just above the 3.9 million unit pace that economists were expecting, according to FactSet. But it's the slowest sales pace since October 2010, when the market was still choked by foreclosures following the housing bust several years earlier. Sales sank 15.4% compared with the same month last year and are down 21% through the first nine months of the year versus the same period in ...

Saudi Arabia and Russia are extending cuts to the amount of oil they pump to the world to try to prop up prices LONDON -- Saudi Arabia and Russia are extending cuts to the amount of oil they pump to the world in a bid to prop up price s, showing how two of the world's largest oil producers are scrambling to boost income from the fossil fuel even as demand has weakened with the economy. The decision gave a slight boost to oil price s Monday and comes after the Saudis announced a large cut in output for July at the latest meeting of the OPEC+ coalition of oil producers — raising concerns that gasoline price s for U.S. drivers could start ticking up. The Saudi Energy Ministry said it would extend July's cut of 1 million barrels per day through August to support “the stability and balance of oil markets.” That will keep the Gulf nation's output at 9 million barrels per day. Meanwhile, Russian Deputy Prime Minister Alexander Novak said his country will cut production by an a...