Foreclosures are surging as U.S. homeowners grapple with rising costs
A growing number of Americans, squeezed by inflation and elevated interest rates, face the risk of losing their home in foreclosure.
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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.
A 17-year-old boy is in the hospital after he was shot at Harper Woods High School in Harper Woods, Michigan, during a football game on Friday night, police said.
Detroit City Football Club continues its journey in the 2025 USL Championship playoffs.
Michigan began providing SNAP payments as the Supreme Court late Friday issued a halt.
The Oakland County Road Commission is closely following this weekend's forecast, as Metro Detroit is expected to experience its first taste of winter weather this season.
John Skelton, the father of three boys who have been missing for 15 years, is set to be released later this month.
An individual has been arrested in connection with the killings of two men who were found dead inside a Shelby Township, Michigan, auto shop, police said Saturday morning.
A 17-year-old boy is in the hospital after he was shot in the parking lot of Harper Woods High School in Harper Woods, Michigan, during a football game on Friday night, police said.
John Skelton, the father of three boys who have been missing for 15 years, is set to be released later this month.
An emergency order obtained by CBS News showed that the Detroit Metro Airport was among 40 major airports impacted by air traffic reductions.
Michigan began providing SNAP payments as the Supreme Court late Friday issued a halt.
Waymo is starting to test autonomous vehicles in Detroit as it leads up to launching its ride-hailing service locally.
General Motors is laying off about 1,700 workers across manufacturing sites in Michigan and Ohio.
On average, Michiganders are paying $3.08 per gallon for regular unleaded fuel.
The state of Michigan is suspending incentives and seeking to claw back millions from a Chinese business behind an electric vehicle battery plant project in northern Michigan after the project has been riddled with pushback from locals and national Republicans.
About 200 employees were impacted after an auto parts manufacturer closed its Auburn Hills, Michigan, facility.
Kendrick Lamar, Lady Gaga and Bad Bunny are among the artists with the most Grammy nominations this year.
Howell's historic opera house, which hasn't hosted a performance on stage in over a century, is now under new leadership at the Livingston Arts Council.
"Wicked" star Jonathan Bailey has been named People magazine's 2025 Sexiest Man Alive.
Diane Ladd, the actor known for her Oscar-nominated roles in "Alice Doesn't Live Here Anymore," "Wild at Heart," and "Rambling Rose" has died.
Red Hot Chili Peppers drummer Chad Smith is gifting a need-based music scholarship to the University of Michigan.
Michigan began providing SNAP payments as the Supreme Court late Friday issued a halt.
Artemi Panarin had a goal and two assists, and the New York Rangers beat the Detroit Red Wings 4-1.
It's one of the most well-known shipwrecks in American history. This Monday marks 50 years since the Edmund Fitzgerald sank in Lake Superior, but the legend of the lost freighter lives on.
Estimates of the economic hit from the U.S. government shutdown put the losses at up to $16 billion every week the impasse continues.
Kendrick Lamar, Lady Gaga and Bad Bunny are among the artists with the most Grammy nominations this year.
A group of nine Michigan patients, physicians and reproductive rights advocates has filed a lawsuit against Gov. Gretchen Whitmer and four other state officials.
Henry Ford Genesys in Grand Blanc says it will provide wage increases as hundreds of nurses and staff represented by Teamsters Local 332 remain on strike.
A program that provides cash to help new and expecting mothers with newborn expenses is expanding to Ypsilanti.
At least 11 people have contracted Salmonella linked to powder supplements sold at Sam's Club stores nationwide, health authorities said.
Pardee Elementary School will be deep cleaned as health officials investigate about 30 cases of hand, foot and mouth disease.
Detroit City Football Club continues its journey in the 2025 USL Championship playoffs.
Cade Cunningham helped lead Detroit to its fifth straight victory and a 7-2 record.
Artemi Panarin had a goal and two assists, and the New York Rangers beat the Detroit Red Wings 4-1.
The Department of Public Safety said officers found Kneeland's vehicle abandoned after a crash, then found his body nearby.
Cade Cunningham scored 19 of his 31 points in the fourth quarter as the Detroit Pistons won their fourth straight, beating the Utah Jazz 114-103 on Wednesday night.
Eric Poe, CEO of CURE Auto Insurance, a New Jersey–based car insurer that entered the Michigan market four years ago and now has over 100,000 customers here, appears on Michigan Matters to discuss insurance rates.
Kinloch talked about helping neighborhoods, and he talked about improving education and DPSCD.
Canadian Consul General Colin Bird talks about the importance of $60 billion-plus in annual two-way trade between his country and Michigan.
Jared Fleisher, president of Bedrock, appears on Michigan Matters with an update on the company's goings-on
Detroit Mayoral Candidate Mary Sheffield was asked about a bevy of issues on this week's Michigan Matters.
Event celebrates life of beloved Dearborn basketball coach
John Skelton, the father of three Michigan boys who have been missing for 15 years, is set to be released later this month.
Michigan began providing SNAP payments as the Supreme Court late Friday issued a halt. The high court temporarily stopped the Trump administration from issuing full SNAP payments that were initially ordered by a federal judge.
The Oakland County Road Commission is closely following this weekend's forecast, as Metro Detroit is expected to experience its first taste of winter weather this season.
The Salvation Army kicked off its annual Red Kettle campaign on Friday, installing the world's largest red kettle in downtown Detroit.