Business Highlights: Energy costs, home sales
Staff, 2022-10-20 18:18:09,
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US heating worries mount amid growing costs, uncertainty
JAY, Maine (AP) — Families are looking forward with dread as winter approaches with high energy costs and tight fuel supplies. The U.S. Department of Energy is projecting sharp price increases for home heating compared to last winter. Some worry whether heating assistance programs will be adequate for struggling families. Last month, Congress added $1 billion to Low Income Home Energy Assistance Program, bringing the total to at least $4.8 billion. But that level represents a cut from last year, when federal pandemic relief pushed the total energy assistance package past $8 billion.
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US home sales fell in September for eighth straight month
NEW YORK (AP) — Sales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market. The National Association of Realtors said Thursday that existing home sales fell 1.5% last month from August to a seasonally adjusted annual rate of 4.71 million. That’s slightly higher than what economists were expecting, according to FactSet. Sales fell nearly 24% from September last year. The national median home price rose 8.4% in September from a year earlier to $384,800.
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Post-election rally unlikely amid Fed rate outlook
LOS ANGELES (AP) — The upcoming midterm elections…
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