Mortgage buyer Freddie Mac says the average
30-year fixed mortgage rate increased to 3.91 percent, from 3.85 percent a week ago. The 15-year home loan also jumped, rising to 3.21 percent, from 3.15 percent.
The Labor Department says weekly applications for U.S. unemployment aid fell 15,000 last week to a seasonally adjusted 243,000.
General Motors plans to shutter a Detroit car factory for five weeks, laying off 1,500 workers as it tries to keep inventory under control. The Detroit-Hamtramck plant makes the Chevrolet Impala, Cadillac CT6, Buick Lacrosse and Chevrolet Volt hybrid.
Tesla Inc. is recalling 11,000 Model X SUVs worldwide because their rear seats might not lock into place. The recall involves vehicles with foldflat second row seats made between Oct. 28, 2016, and Aug. 16.
Florida’s orange production will plunge 21 percent to a 71-year low after damage wrought by Hurricane Irma devastated the harvest. Orange growers in Florida, will harvest 54 million boxes in the 201718 marketing year, the U.S. Department of Agriculture said Thursday.