Economy

Mortgage rates edge higher to nearly 7%

Mortgage rates increased again this week, with the average rate on the benchmark 30-year fixed mortgage climbing to 6.90%. The average rate on 15-year fixed mortgages rose to 6.25%.

Spirit to ground 7 planes over engine issue

Spirit Airlines warned investors Thursday that the carrier will have to ground seven of its planes through the remainder of the year because their engines need to be inspected.

Gas prices are on the rise. Here's why

Gas prices are climbing – up nearly 30 cents from a month ago – due in part to high temperatures, which is hurting refinery production, according to an industry expert.