Business

Tuesday’s business headlines

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

Driving

Drivers in Indiana are paying on the low end, compared to other states, for car insurance.

Bankrate says the median annual rate is $12,054.

Bankrate conducted extensive research on the largest insurance companies in Indiana by market share. Based on analysis, some of the best car insurance in Indiana is sold by USAA, Auto-Owners and Geico. Erie and State Farm are also contenders.

General Motors

General Motors is revoking the heated-seat option due to the chip shortage.

By removing the heated seats, it can preserve chips.

According to a recent survey by AutoPacific, heated seats are the most-wanted feature among car buyers, with 60% saying they are a must-have.

Mortgage

Mortgage rates fell for a 2nd consecutive week, marking a second decline in five weeks.

Thirty-year fixed rates have fallen back to below 3%.

Freddie Mac says 30-year fixed rates slide by 11 basis points to 2.98%.

Elon Musk

The wealthiest person in the world, Elon Musk’s last home seems to have found a buyer, according to its Zillow listing.

The California estate is his last remaining home.

Musk has been on a selling spree for more than a year now. In 2020, he pledged to eventually “own no house.”

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