Business

Tuesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.

Cash hoarding

Concerns about election violence appear to be widespread – at least according to one poll. A YouGov survey found that more than of respondents expected to see violence because of the election. Republicans were slightly more likely than Democrats to say they expected an uptick in violence.

Some Americans are holding onto cash as bank branches in some cities say they may close if there are protests.

American Airlines

American Airlines has cut its flight schedule by 50% “in an effort to match the low demand resulting from coronavirus.”

American posted its new schedule over the weekend, matching cuts from other major airlines as demand fails to materialize with the fast-approaching holiday season, according the Dallas-based airline’s data.

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Remote work

More companies are now willing to not only hire remote workers but hire them from anywhere. More than one third say they are willing to hire 100% remote workers anywhere in the U.S. or internationally.

The Conference Board found more than one-third of respondents expect that 40% or more of their employees will work remotely at least three days a week.

Mortgage rates

U.S. mortgage rates remain at unprecedented levels, according to Freddie Mac.

The 30-year fixed mortgage rate average 2.81% for the week ending Oct. 29 – up slightly from 2.80% last week. The record-low rate of 2.80% marked the lowest since tracking began in 1971.

A year ago, mortgage rates stood at 3.78%.

Indiana home prices have been jumping.

F.C. Tucker Company says the average September home sale price for the 16-county central Indiana region was $263,215, an increase of 18.2%.

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