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.
Justin Verlander received an unexpected farewell during his major league finale when the 7-year-old daughter of the pitcher and model Kate Upton came to the mound with Detroit Tigers manager A.J. Hinch in the sixth inning of Saturday's game against the Pittsburgh Pirates.
The Detroit Symphony Orchestra kicks off its 2026-27 season Saturday night with its annual opening night gala.
A semitruck driver was arrested after a traffic stop Thursday near Marshall, in which Michigan State Police officers seized 174 handguns and 167 kilograms of suspected heroin, according to the law enforcement agency.
An unclaimed lottery ticket worth over $197,000 that was sold in Covert Township last September has expired, the Michigan Lottery said Friday.
Two men accused of breaking into at least 10 work vehicles across three Southeast Michigan counties have been bound over to circuit court, according to the Macomb County Prosecutor's Office.
Questions remain following the death of the vice president of a Detroit funeral home, which came days after a family reported their loved one may have been mistakenly cremated.
Detroit Mayor Mary Sheffield and the Detroit Land Bank Authority are celebrating the 67 Detroiters who are receiving deeds to their homes on Friday.
The Oakland County Prosecutor's Office reissued charges against a 34-year-old man, more than two years after he allegedly broke into a woman's home in Bloomfield Township, Michigan.
Justin Verlander received an unexpected farewell during his major league finale when the 7-year-old daughter of the pitcher and model Kate Upton came to the mound with Detroit Tigers manager A.J. Hinch in the sixth inning of Saturday's game against the Pittsburgh Pirates.
The Detroit Symphony Orchestra kicks off its 2026-27 season Saturday night with its annual opening night gala.
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."
The Detroit Symphony Orchestra kicks off its 2026-27 season Saturday night with its annual opening night gala.
Challenging documentaries and award-winning features are among the offerings of New York City's leading cinema event, starring such luminaries as Pedro Pascal, Adam Driver, Scarlett Johansson, Julianne Moore and Godzilla.
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."
Spencer Torkelson finished a single short of the cycle, Jackson Jobe pitched 5 1/3 innings and the Detroit Tigers beat the Pittsburgh Pirates 8-7 after nearly wasting a six-run lead.
Chipotle, McDonald's and Shake Shack are among the restaurant chains revamping their menus as more consumers go on weight-loss drugs.
The surge in diesel prices this year is putting a financial squeeze on schools, farms and small businesses around the U.S.
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.
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.
Justin Verlander received an unexpected farewell during his major league finale when the 7-year-old daughter of the pitcher and model Kate Upton came to the mound with Detroit Tigers manager A.J. Hinch in the sixth inning of Saturday's game against the Pittsburgh Pirates.
Spencer Torkelson finished a single short of the cycle, Jackson Jobe pitched 5 1/3 innings and the Detroit Tigers beat the Pittsburgh Pirates 8-7 after nearly wasting a six-run lead.
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.
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.
The leader of a Detroit funeral home has died after a mishap resulted in a family learning their loved one was mistakenly cremated.
Temperatures hold near 70 with a ton of sunshine this weekend.
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.
The Oakland County Prosecutor's Office reissued charges against a 34-year-old man, more than two years after he allegedly broke into a woman's home in Bloomfield Township, Michigan.
Bedrock, which is working to redevelop the Renaissance Center in downtown Detroit, says the project is expected to be completed in 2036, two years earlier than projected in documents obtained by CBS News Detroit.