INDIANAPOLIS (WISH) — Here is a look at Friday’s business headlines with Jane King, where she discusses GM’s new luxury concept car and the price of school lunches.
Mortgage rates have fallen to the lowest level in 2025.
The average rate on the standard 30-year fixed mortgage declined to 6.58%, according to Freddie Mac. That was a low not seen since October 2024.
The housing market has been stuck in a rut for the third year in a row.
John Deere said it took a $200 million hit from global tariffs in the quarter.
First, the tariffs: John Deere does a lot of business with China and Mexico and that is getting more expensive with tariffs.
Also, crop prices for wheat, corn and soybeans are near multi-year lows in North America, denting demand for farming equipment.
Farmers have also been gravitating toward renting machinery to cut their costs, which has hit sales of big-ticket equipment such as tractors and combines.
Packing a school lunch will pay more for the standard fare this year, due to food inflation and tariffs.
A report from Deloitte says although school-provided lunches are generally less expensive than lunches from home, those costs are rising too.
So, what is costing more? Milk, cheese, apples and bananas.
The soaring cost of living and financial pressures on families have forced 6-in-10 parents into debt to provide for their children.
According to the survey from National Debt Relief — conducted by Talker Research ahead of the back-to-school season — for many parents, this debt is increasing as they work to make ends meet for their families.
More than half of all parents surveyed are struggling to provide for their kids due to the rising costs of living, and 57% of those in debt said it made them feel limited in their ability to grow their family.
Single parents are more likely to struggle to provide for their kids.
A new concept car dubbed the “Velocity” is aimed at building up the brand’s all-electric luxury crossover segment.
The electric concept car has a “lifted yet elegant design,” according to Cadillac, riding on 24-inch wheels.
It includes multiple driving modes to enhance the electric vehicle’s performance.

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