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.”