St. Louis GM plant will reopen Monday

NATION

St. Louis GM plant will reopen Monday

ST. LOUIS — Workers at a General Motors plant near St. Louis are going back to work starting Monday for the first time in about two months. The Wentzville, Mo., plant has been shut down since March 6 due to a parts shortage caused by a strike at a parts supplier, American Axle Manufacturing Holdings Inc. in Detroit.

GM spokesman Dan Flores said Thursday that the company found another source for the parts. He declined to elaborate. UAW Local 2250 chairman Bill Schiltz said union leaders are concerned about where those parts are coming from.

“You’re undermining the people at UAW and American Axle if you’re bringing in parts from overseas,” Schiltz said.

Rate slightly down on 30-year mortgages

WASHINGTON — Rates on 30-year mortgages edged down slightly this week, but remained above 6 percent for the third straight week.

Mortgage giant Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.05 percent this week, compared with 6.06 percent last week. It marked the third week that 30-year rates have been above 6 percent.

The average rate on 15-year, fixed-rate mortgages, a popular choice for refinancing, edged up to 5.60 percent, up from 5.59 percent last week.

Associated Press