Yet another rise on the 30-year mortgage rate. And GM is hitting the brakes on some truck production.
A strong Friday on wall street. Both the Dow and S&P 500 finished higher for a second week in a row.

The Dow gained 153 points to close at 34,861.
The Nasdaq fell 22 points.
The S&P was up a half percent, gaining 22 today.

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That didn’t take long. The average 30-year fixed rate mortgage is now 4.95%. It hit 4.5% just a week ago. Add in higher home prices, and right now, the median mortgage payment is more than 20% higher than it was a year ago.

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General Motors will stop making trucks at an Indiana factory for two weeks. GM doesn’t have enough semiconductor chips. The chip supply was expected to improve this year, but other problems have now clouded that thinking.

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Instacart is slashing its valuation by almost 40%. Down to $24 billion. The grocery delivery company was valued at $39 billion just a year ago. But the company says “market turbulence” has led to a sell-off in tech stocks.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.

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