Mortgage rates top 7% for the first time since May 2024
As rates climb, more buyers are seeking riskier adjustable-rate mortgages, according to the Mortgage Bankers Association.
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As rates climb, more buyers are seeking riskier adjustable-rate mortgages, according to the Mortgage Bankers Association.
The housing market has stalled in much of the country, with the challenges including high prices and higher mortgage rates. CBS News has this report.
A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.
A growing number of Americans, squeezed by inflation and elevated interest rates, face the risk of losing their home in foreclosure.
The Federal Reserve announced Wednesday to cut base interest rates by a quarter percentage point bringing 4.25%. It's the first cut we've seen in nine months and that could have an impact on consumer interest rates for credit card debt, car loans and mortgage rates. CBS News has this report.
Unable to find buyers, a growing number of sellers are pulling their homes off the market rather than compromise on price.
Extreme weather linked to climate change will likely lead to more Americans losing their homes as foreclosure rates rise, researchers predict.
Mortgage rates jumped higher on Monday following Moody's downgrade of U.S. debt, adding to the headwinds facing homebuyers.
The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
Millions of U.S. homeowners are spending more than 30% of their monthly income on housing. Here are the hardest hit states.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
In a lawsuit filed this week in federal court, UWM and its CEO are accused of pressuring brokers to send their clients to UWM which in turn pushed homebuyers into expensive mortgages.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
The average rate for a 30-year home loan crossed the 8% threshold this week, deepening the affordability crisis for homebuyers.
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
A little-known surcharge set to change on May 1 could impact consumers in different ways.
Starting in May, some people with higher credit scores may actually end up paying a higher fee on their mortgage, while those with lower credit scores pay less.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
Buyers are getting squeezed by higher real estate prices and soaring mortgage rates, which could force more out of the market.
Is the Obama administration failing the housing market? Maybe.
The benchmark conforming 30-year fixed mortgage rate dipped slightly from 4.24 percent to 4.23 percent, according to Bankrate.com's weekly national survey.
Data centers, politics and civility are the focus of this week's Michigan Matters.
A Warren man was sentenced after being convicted by a Macomb County jury in July on all charges, including 10 felonies, Macomb County Prosecutor Peter J. Lucido announced Friday.
Victoria Viktorovna Aquilina, 43, entered the U.S. more than 20 years ago and never became a citizen. Federal prosecutors in Detroit say she voted in person in the 2024 presidential election anyway.
A man ran over and injured an Eastpointe police officer with a truck loaded with items from English Gardens in a pursuit that traveled from Eastpointe into the City of Detroit, police say.
A new bill, led by Republican state Rep. Donni Steele (Orion Township), aimed at strengthening Michigan's criminal sexual conduct laws, passed in the state House on Wednesday.
A man ran over and injured an Eastpointe police officer with a truck loaded with items from English Gardens in a pursuit that traveled from Eastpointe into the City of Detroit, police say.
A Roseville man who was an off-duty Detroit firefighter at the time of an April 2026 fatal crash has pleaded no contest, according to the Macomb County Prosecutor's Office.
That timeline was unveiled in plans CBS News Detroit obtained from the Detroit Economic Growth Corporation on Thursday.
Data centers, politics and civility are the focus of this week's Michigan Matters.
A Warren man was sentenced after being convicted by a Macomb County jury in July on all charges, including 10 felonies, Macomb County Prosecutor Peter J. Lucido announced Friday.
Tony Stewart Racing unveiled a special Dodge livery on Tuesday at Stellantis' North America headquarters in Auburn Hills, Michigan.
The spike in prices has also sparked differing opinions among drivers about who's to blame.
A Ford contract employee was taken to a hospital following an incident on Monday morning at the Michigan Assembly Plant in Wayne, Michigan.
Automotive expert Paul Eisenstein of Autoline TV said the number of vehicles recalled this year has surged.
Woodward Dream Cruise participant Mike Holmes, who showed off a DeLorean at Saturday's event, said the " human interaction is just as much fun as driving the car."
Taylor Swift announced her new single "Patient Zero" earlier this week, saying she has been "impatiently waiting" to announce that it will be out on Friday.
A Tennessee judge granted Dolly Parton's estate a temporary restraining order Wednesday against the late singer's nephew Bryan Seaver and his private security company.
Nike-owned Converse acknowledged that an ad for its Chuck Taylor sneaker is "deeply upsetting."
Presley Gerber, the son of Cindy Crawford and Rande Gerber, has died at 27, a family spokesperson has confirmed.
If you're looking for sunshine in Metro Detroit, Friday is the day to seek it out.
Victoria Viktorovna Aquilina, 43, entered the U.S. more than 20 years ago and never became a citizen. Federal prosecutors in Detroit say she voted in person in the 2024 presidential election anyway.
Two 20-year-olds have been arrested and charged with hazing and disorderly conduct in relation to the incident.
With an unprecedented budget, ICE spent billions in a rush to expand its detention network, wasting millions in the process, the Government Accountability Office found.
Workers in physically demanding jobs should be able to collect full Social Security retirement benefits at age 60, a Michigan lawmaker says.
The federal government is defending its officers after a fatal crash last weekend involving an immigrant in western Michigan.
More than 100 volunteers gathered on Monday to distribute fresh food and Alzheimer's education resources to seniors in Oakland County in recognition of World Alzheimer's Day.
Thursday marks one year since Michigan Medicine ended gender-affirming care for young patients
Nearly half of Americans with medical debt owe at least $2,000, forcing them to make tough choices, new research shows.
The school immunization waiver rate climbed to 7.1% last year from 6.2% in 2024, the fifth straight year of decline and the highest exemption rate since 2010. Michigan is now outpacing the national average.
The standardbred-Friesian mare is currently undergoing treatment and is believed to be unvaccinated, according to state officials.
Dan Campbell has demoted offensive coordinators during the season in two of his previous five years with the Detroit Lions.
School board members discussed a potential new policy that would ban transgender women from women's sports and locker rooms.
CJ Abrams hit a tiebreaking two-run homer and added a solo shot to give the Washington Nationals a 3-1 victory over the Detroit Tigers on Tuesday night.
The Detroit Red Wings will likely extend their playoff drought to 11 seasons, putting their dismal run behind only one in NHL history.
River Ryan was outstanding in his Detroit debut, and the Tigers hit three home runs to rout the Washington Nationals 9-2, one day after being eliminated from the American League playoff race.
Data centers, politics and civility are the focus of this week's Michigan Matters.
The signature event was launched 19 years ago by the Metropolitan Affairs Coalition and the Detroit Free Press.
At the top of the list is the open U.S. Senate contest between Democrat Abdul El-Sayed and Republican Mike Rogers.
The Detroit Regional Partnership, which has been around for six years, has been a significant catalyst, helping bring numerous jobs and companies to the region.
The roundtable talks politics, civility and issues that will resonate this fall in various elections.
John Rakolta Jr., former ambassador to the United Arab Emirates and chair of Walbridge, appears on Michigan Matters this Sunday to discuss his family's 116-year-old construction company, which has built numerous automotive and manufacturing facilities worldwide.
President Trump and Chinese President Xi Jinping are wrapping up Xi's first visit to the White House in over a decade. Natalie Brand reports.
A powerful nor'easter threatens to bring flooding and damaging winds to the East Coast.
WB I-96 express and local lanes will be closing on Friday night. CBS Detroit's Hannah McIlree is helping you get around it.
Mackey Center for Animal Care presents two pets in its care available for adoption. They are Trevor the cat and Perseus the dog.