Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.

Mortgage rates at highest level in more than a decade

Mortgage rates continued to rise this week, reaching their highest level in more than a decade.

The 30-year fixed-rate mortgage averaged 5.11% in the week ending April 21, up from 5% the week before, according to Freddie Mac.

It is the seventh consecutive week of increases.

East Coast jet fuel costs soar

East Coast jet fuel costs soar on shortage fears.

Following Russia’s invasion of Ukraine, the United States and allies slapped heavy sanctions on Russia, leading to a tightening in worldwide energy markets.

East Coast jet fuel costs have reached record highs in recent days.

Cummins filtration business files for IPO

Columbus-based Cummins is looking to spin off its filtration business into a publicly-held company.

The manufacturer says it has confidentially filed for a proposed initial public offering for the business with the U.S. Securities and Exchange Commission.

Last summer, Cummins said it was exploring alternatives for its filtration business, including a potential separation of the business into a standalone company.

HBO Max grows to 76.8M subscribers by end of Q1

HBO and HBO Max grew to 76.8 million subscribers by the end of the first quarter of 2022.

That’s up 3 million subscribers since the previous quarter.

Earlier this week, Netflix reported its first subscriber loss in more than a decade.