Mortgage rates surge to highest level since 2000
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
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Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse.
Americans are still spending as inflation has finally shown signs of cooling. Still, there are some troubling economic signs. Mark Strassmann breaks it all down.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
With inflation finally falling from last year's record highs, the Federal Reserve declined to raise key interest rates for the first time in 15 months. Natalie Brand reports on how the move will affect consumers and whether we could see more rate hikes in the future.
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
Credit card debt among Americans is nearing the trillion-dollar mark. And with the recent interest rate hike, Americans can look forward to higher interest rates. Tanya Rivero has the latest.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into the second-largest bank failure in U.S. history.
After last week's collapse of Silicon Valley Bank, President Joe Biden urged calm and said there would be accountability. Meanwhile, account holders lined up at bank headquarters to withdraw their money after the federal government guaranteed deposits. Nicole D'Antonio and Devin Fehely reports. (3/13/23)
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
Jill Schlesinger reports on the impacts of the latest interest rate hike by the Fed on consumers (9-22-2022)
Naomi Ruchim reports on effort by Feds to curb inflation by hiking interest rates (9-21-2022)
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
CBS News business analyst Jill Schlesinger talks about impact the Federal Reserve's .75% interest rate hike will have (6-16-2022)
The Federal Reserve made its most aggressive move yet to tamp down inflation Wednesday, by raising the interest rate by three-quarters of a percentage point.
The Federal Reserve made its most aggressive move yet to tamp down inflation Wednesday, by raising the interest rate by three-quarters of a percentage point. Andrea Nakano reports. (6/15/22)
For anyone used to the Bay Area housing market being white hot, the idea of a buyer's market is unfathomable. But with interest rates rising and more homes coming online, a cool-off might be underway.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
An 18-year-old was hospitalized Sunday evening after bystanders performed CPR following a near-drowning at San Gregorio State Beach, Cal Fire said.
The COVID-19 pandemic permanently changed how many people spend money on dining and entertainment. Now, another Oakland business has become a casualty of those shifts.
The San Diego Padres secured a 5-4 victory over the San Francisco Giants on Sunday.
Crews in Foster City were battling a six-alarm fire at a condominium building on Sunday.
The first shooting happened on July 28, just after 8 p.m., near the 1400 block of Enterprise Street. Police said the victim reported someone shot at him and then ran from the area. The victim was not injured.
An 18-year-old was hospitalized Sunday evening after bystanders performed CPR following a near-drowning at San Gregorio State Beach, Cal Fire said.
The COVID-19 pandemic permanently changed how many people spend money on dining and entertainment. Now, another Oakland business has become a casualty of those shifts.
The San Diego Padres secured a 5-4 victory over the San Francisco Giants on Sunday.
Crews in Foster City were battling a six-alarm fire at a condominium building on Sunday.
The first shooting happened on July 28, just after 8 p.m., near the 1400 block of Enterprise Street. Police said the victim reported someone shot at him and then ran from the area. The victim was not injured.
An 18-year-old was hospitalized Sunday evening after bystanders performed CPR following a near-drowning at San Gregorio State Beach, Cal Fire said.
Crews in Foster City were battling a six-alarm fire at a condominium building on Sunday.
It's the cool water from the California Current and upwelling that usually allows the dense coastal fog to form. The ocean water is cooler than the air above it, and lowers the air temperature down to the dew point, which creates fog.
Janelle Salaun came off the bench to score 24 points, Veronica Burton contributed 17 points and six assists, and the Golden State Valkyries used their stingy defense down the stretch to hold off the Toronto Tempo for a 96-79 win Sunday night.
An investigation is underway after a man was found dead Saturday morning at a Caltrain station in San Francisco, police said.
The COVID-19 pandemic permanently changed how many people spend money on dining and entertainment. Now, another Oakland business has become a casualty of those shifts.
For generations, the Oakland Coliseum has been where the city's biggest sports memories were made. Now, one of the last professional sports teams still calling the venue home is facing an uncertain future.
In a quiet neighborhood in Oakland, a backyard was abuzz with young people answering an urgent call to action.
An investigation is underway after a woman was shot and killed Friday morning near the Oakland Adult & Career Education Center, officials said.
A man who was convicted in a series of attacks targeting elderly victims in Oakland's Chinatown during the COVID-19 pandemic has been charged in connection with a series of new attacks, prosecutors said.
A 16-year-old California lifeguard who rescued a 10-year-old child from powerful waves during a daring rescue caught on video has spoken out about the harrowing experience.
A South Bay summer camp counselor who was previously arrested for alleged child sexual assaults was arrested again after a third alleged victim came forward, authorities said.
A jury on California's Central Coast has convicted a barber for sexually assaulting clients at his shop, prosecutors said.
A fire burning in eastern Santa Clara County was spreading on Monday after jumping a containment line.
The College Football Players Association has announced that Stanford has become the first team to organize a player-led chapter.
The first shooting happened on July 28, just after 8 p.m., near the 1400 block of Enterprise Street. Police said the victim reported someone shot at him and then ran from the area. The victim was not injured.
Smoke blanketed the Bay Area Friday, as firefighters continued to battle a wildfire near Salt Point State Park in Sonoma County.
As the SMART train line plans stations at both Healdsburg and Cloverdale, the town of Geyserville, located in the middle, is saying, why not us?
Nicholas Cunfermann disappeared from Novato on Aug. 24, 1986. He was 32 years old.
A fire was burning vegetation near homes in a Mill Valley neighborhood, authorities said Monday.
The San Diego Padres secured a 5-4 victory over the San Francisco Giants on Sunday.
Janelle Salaun came off the bench to score 24 points, Veronica Burton contributed 17 points and six assists, and the Golden State Valkyries used their stingy defense down the stretch to hold off the Toronto Tempo for a 96-79 win Sunday night.
Jake Cronenworth singled in Xander Bogaerts with two outs in the ninth inning and the San Diego Padres beat the San Francisco Giants 6-5 for their seventh win in eight games.
San Francisco 49ers receiver Ricky Pearsall will have season-ending surgery on his injured right knee in the latest setback for the 2024 first-round pick.
Jase Bowen hit his first major league homer, Ty France drove in three runs and three San Diego Padres pitchers combined on a two-hitter in a 7-0 victory over the San Francisco Giants.
The first shooting happened on July 28, just after 8 p.m., near the 1400 block of Enterprise Street. Police said the victim reported someone shot at him and then ran from the area. The victim was not injured.
A Pleasant Hill man has been arrested in connection with a stabbing in San Francisco after police used surveillance cameras and a drone to track his movements and recover what investigators believe was the weapon used in the attack.
A man who was convicted in a series of attacks targeting elderly victims in Oakland's Chinatown during the COVID-19 pandemic has been charged in connection with a series of new attacks, prosecutors said.
Nearly sixteen years after a San Francisco man was found fatally stabbed inside his apartment, police are seeking information in solving the cold case.
An East Bay man has been arrested on suspicion of attempted murder after he allegedly shot and robbed his ex-girlfriend outside a Berkeley home last month, while his mother was also arrested for being an alleged accessory, police said.
The families of four children who died by suicide allege that using social media led to depression, anxiety and other mental health problems.
Anthropic's artificial intelligence model Claude "gained unauthorized access" to three outside organizations on three separate occasions during testing.
OpenAI CEO Sam Altman and other AI leaders say they support pacing the rapid advancement of AI's capabilities.
Three major U.S. airlines have quietly changed their policies to ban humanoid and animal-like robots from their flights.
Schools in three states will be equipped with drones this coming academic year that aim to find and deter active shooters within seconds.
Soaring health insurance premiums are forcing some small business owners to make difficult decisions about employee coverage, staffing and their future.
The case accuses OpenAI of practicing medicine without a license and failing to safeguard users seeking health advice.
A generic version of the allergy medication Zyrtec is under recall across the U.S. over cross-contamination concerns.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
A Monterey County company is now at the center of a nationwide cyclosporiasis outbreak. The Washington Post is reporting that lettuce from Taylor Farms, a company headquartered in Salinas, may have supplied contaminated lettuce to Taco Bell.
Records reveal California twice missed deadlines to buy the trains at the center of a federal funding fight — then quietly dropped its lawsuit weeks after missing its new deadline.
California Gov. Gavin Newsom's office has released tax returns showing he and his wife made between $1.7 million and $2 million annually from 2022 through 2024.
The Department of Justice in June issued a legal opinion saying states aren't required to provide services that help people with disabilities remain in their homes.
The Trump administration on Thursday reiterated its view that China's alleged efforts to collect millions of American voter registration files constituted election interference.
Sen. Aisha Wahab said the state findings reveal the county missed key warning signs before Sophia Mason's 2022 death, and that similar failures persist today.
Berlin police did not identify the suspect, who is still at large, by name but said that he was already known to police and is from Berlin.
LGBTQ+ communities have significantly higher rates of unemployment than the general population. Kelsi Thorud reports on how the City of Oakland is empowering LGBTQ+ job seekers during Pride Month.
The fallout over the opposition by a handful of San Francisco Giants players against the team's Pride Night celebrations has prompted an investigation of Major League Baseball by the Trump administration.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
Many LGBTQ+ Pride events across the country have had to scale back or even cancel due to political and financial reasons. San Francisco was on the brink. Kara St. Cyr reports.
A lawsuit alleges that a drive storing a $45 million spy film starring Nicolas Cage was "stolen right off a Netflix desk."
Four women say Hollywood star Jared Leto committed sexual crimes against them when they were teenagers, in interviews with the BBC.
Carly Simon, the singer known for 1970s hits like "You're So Vain," announced she has Parkinson's disease and also was treated for basal cell carcinoma.
Bay Area rapper Mistah F.A.B. was arrested in Oakland after police said he was in possession of thousands of dollars in illegal fireworks.
Paramount Skydance on Friday said it would delay the deal until as late as June 2027.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
Sooji Nam reports.
with Darren Peck.
Sooji Nam reports.
John Ramos reports.
with Zoe Mintz.
In 2025, KPIX is moving to a new community service award: the CBS News Bay Area Icon Award. Submit nominations for an outstanding community hero at kpix.com/icon.
It's the most wonderful time of the year for a South Bay woman who has played Mrs. Claus for more than 40 years for the children of North San Jose's Alviso District.
For residents of the Oakland Hills, the prospect of another wildfire always remains a concern. This week's Jefferson Awards winner has made it his mission to make the hills and other high-risk areas safer.
In East Palo Alto -- where state education numbers show more than nine in ten public school students are low income and more than half are English learners -- many are finding hope and connection at the Boys & Girls Clubs of the Peninsula.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.