Scot Bertram, Mortgage rates are increasing yet again.

Live—from the campus of Hillsdale College in beautiful Hillsdale Michigan— this is Scot Bertram in for Steve on the Steve Gruber Show for

–Friday, October 28th 2022—

 

—Here are 3 big things you need to know—

 

One — After being Twitter's new owner for an hour, Elon Musk is already firing several top executives.  The billionaire has previously said he plans to cut around 75-percent of the company's staff after he takes ownership.  The same night he acquired the company, Musk fired the CEO and CFO, along with other top executives.  

Two—   The closing of a self-driving vehicle technology company led to a large third quarter loss at Ford Motor Company. The automaker lost 827-million dollars and noted that Argo AI, which was trying develop fully autonomous vehicles, will be shut down. Ford invested one-billion dollars in the company back in 2017 and said they would have self-driving cars on the road by 2021.

 

And number three— Mortgage rates are increasing yet again.  Freddie Mac says the 30-year rate went up to seven-point-zero-eight percent this week.   It comes as the Federal Reserve has been hiking interest rates in a bid to fight soaring inflation this year.