Housing market outlook for 2024
Will mortgage rates drop and home prices finally fall in 2024? Chen Zhao, who leads the economics team at Redfin, shares some early predictions for the housing market in 2024.
Mortgage Rates
Mortgage rates starting to slowly drop
Sky-high mortgage rates that scared off some potential home-buyers this year are slowly starting to drop. Rates are now at their lowest level since June after hitting a 23-year high in October. Greg McBride, chief financial analyst at Bankrate, joined CBS News to discuss how much lower rates might go.
Mortgage rate for a typical home loan falls to 6.8% — lowest since June
Mortgage rates are edging down from their highest level in 23 years as inflation around the U.S. continues to cool.
2023 was brutal for homebuyers. Here's what to expect in 2024.
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.
Here's how much you need to earn to afford a home in 97 U.S. cities
"Even places that historically have been affordable now need six figures," according to Redfin's chief economist.
Here's what to do if you get behind on your mortgage payment
Many homeowners are struggling to keep up with their mortgage payments amid rising costs and high inflation. Here's how to catch up.
Thinking of an adjustable-rate mortgage? Here are 3 questions to ask.
Deciding on an adjustable-rate mortgage boils down to how long you plan to own a property and if your income is stable.
What the Fed's rate decision this week could mean for mortgage rates
With mortgage rates topping 8%, some home buyers are hoping to see some relief with the Federal Reserve's next decision.
Home prices and rents have both soared. So is buying or renting the better deal?
Buying a home is now 52% more expensive than renting, a financial gap that is larger than during the 2006 housing bubble.
Mortgage rates touch 8% for the first time since 2000
The average rate for a 30-year home loan crossed the 8% threshold this week, deepening the affordability crisis for homebuyers.
Mortgages rates go up, prices remain high
The climbing interest rates may be keeping prospective home buyers from moving from places they may not necessarily want to live in. Felix Salmon, chief financial correspondent for Axios, joins CBS News with more.
Could a housing market recession be looming?
The lack of housing supply in the United States is related to the ongoing spikes in interest rates. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News to explain the mortgage "lock-in effect," which may be keeping homes off the market.
Mortgage rates haven't been this high since 2000
The average interest rate on a typical mortgage is now 7.49%, worsening the nation's housing affordability crunch.
Home sales down 15% from 2022, data shows
Existing home sales fell almost 1% in August and were down about 15% over the past year, according to new data from the National Association of Realtors. Aarthi Swaminathan, personal finance reporter for MarketWatch, joined CBS News to discuss the numbers.
High mortgage rates creating challenges for buyers
With mortgage rates hovering above 7% for five straight weeks, prospective buyers are facing a housing shortage as would-be sellers seek to keep their low, locked-in rates. Nancy Chen has details.
Mortgage rates unlikely to dip this year, experts say
Although some Wall Street analysts think mortgage rates may have peaked, they don't expect a sharp drop in home loan costs.
Rents are falling more slowly in U.S. suburbs than in cities.
For decades, one of the draws to moving to the suburbs included renting a place for less than what you'd find in the city. But that may not be the case for much longer as the gap between the two is steadily shrinking.
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.
Mortgage rates continue to climb — and could soon reach 8%
Fed signaled it might raise its benchmark rate before year's end, which may catapult mortgage rates even higher.
Mortgage rates are once again above 7%. Is relief in sight?
A couple of factors are at play in the rising rates which continue to remain steep despite fluctuations.
Fed raises benchmark interest rate to 22-year high
In its ongoing effort to tamp down inflation, the Federal Reserve on Wednesday raised its key interest rate a quarter-point to 5.5%, the highest level it has been in 22 years. Carter Evans examines the impact of the Fed's rate hikes.
New York Fed: Loan rejection rates rising
More and more Americans are seeing their loan applications rejected. The Federal Reserve Bank of New York reported that rejection rates are up for many loans -- including mortgages, auto loans and credit cards. John Vivian, senior director of finance consulting firm Potomac Global Partners, joins CBS News to help make sense of the lending landscape.
Renting may be more fiscally prudent than buying
Some real estate experts say that in the current financial climate, renting a home in the U.S. may be more financially responsible than buying one, due to a variety of factors, including mortgage rates and maintenance costs. Carter Evans has details.
Renting a home may be more financially prudent than buying one, experts say
Potential homebuyers need to consider the total cost of a home, including mortgage rates, property insurance, property taxes and maintenance.
What are mortgage rate transfers?
Record-high mortgage rates have made buying a new home unaffordable for many people. But some real estate agents are trying to lock in lower rates with mortgage transfers. Daryl Fairweather, chief economist for Redfin real estate brokerage, joins CBS News discuss.
Trump warns U.S. "will take very strong action" if Iran hangs protesters
"We don't want to see what's happening in Iran happen," President Trump said in an exclusive interview that aired Tuesday on "CBS Evening News."
ICE agent who shot Renee Good suffered internal bleeding, officials say
Jonathan Ross, who shot Renee Good in Minneapolis last week, suffered internal bleeding after the incident, two officials said, though it's not clear how extensive the bleeding was.
Despite Trump warning, Iran shopkeeper among many facing possible hanging
Iranian shopkeeper Erfan Soltani is among thousands of people who could face death sentences despite Trump's warning to Iran's rulers.
Vance, Rubio meeting with Greenland and Denmark's foreign ministers
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FBI searches home of Washington Post journalist for classified documents
The FBI's search is part of a probe into a federal employee suspected of mishandling classified information, Attorney General Pam Bondi said.
House takes up next funding package ahead of shutdown deadline
The bills, which contain funding for the State and Treasury Departments, could stall if the House GOP has attendance issues or defections.
Supreme Court revives Illinois congressman's lawsuit challenging law for late-arriving ballots
The Supreme Court ruled 7-2 in favor of Illinois Rep. Michael Bost, a Republican.
Trump says Renee Good likely a "solid, wonderful person" under "normal circumstances"
President Trump told CBS News he believes the woman killed by an ICE agent in Minneapolis, was likely a "very, solid wonderful person," but her actions before she was killed were "pretty tough."
Remains found on beach ID'd as former mayor who vanished in 2006
Forensic testing finally confirmed the identity of a former Oregon mayor whose remains were found on a beach near Seattle in 2006.
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ICE agent who shot Renee Good suffered internal bleeding, officials say
Jonathan Ross, who shot Renee Good in Minneapolis last week, suffered internal bleeding after the incident, two officials said, though it's not clear how extensive the bleeding was.
FBI searches home of Washington Post journalist for classified documents
The FBI's search is part of a probe into a federal employee suspected of mishandling classified information, Attorney General Pam Bondi said.
Supreme Court revives congressman's suit challenging law for late-arriving ballots
The Supreme Court ruled 7-2 in favor of Illinois Rep. Michael Bost, a Republican.
Chew on this: U.S. food prices are still up 19% since 2022
Food prices in December saw their biggest jump in more than three years, data shows, while the cost of eating out has also risen.
Remains found on beach ID'd as former mayor who vanished in 2006
Forensic testing finally confirmed the identity of a former Oregon mayor whose remains were found on a beach near Seattle in 2006.
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Chew on this: U.S. food prices are still up 19% since 2022
Food prices in December saw their biggest jump in more than three years, data shows, while the cost of eating out has also risen.
"Are You Dead," viral Chinese app, changing its name
The Chinese mobile app "Are You Dead?" which sounds an alarm if a user doesn't check in every 48 hours, says it will drop its catchy name after it drew international media attention.
Saks Global, century-old high-end department store chain, files for bankruptcy
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GM CEO Mary Barra on electric vehicles, tariffs and competing with China
General Motors CEO Mary Barra said the Trump administration's tariffs caused a "few-billion-dollar impact," but also praised them for "leveling the playing field."
Trump: Jerome Powell has "been a lousy Fed chairman"
President Trump brushed off a question about whether the Justice Department probe amounts to political retribution.
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ICE agent who shot Renee Good suffered internal bleeding, officials say
Jonathan Ross, who shot Renee Good in Minneapolis last week, suffered internal bleeding after the incident, two officials said, though it's not clear how extensive the bleeding was.
FBI searches home of Washington Post journalist for classified documents
The FBI's search is part of a probe into a federal employee suspected of mishandling classified information, Attorney General Pam Bondi said.
Supreme Court revives congressman's suit challenging law for late-arriving ballots
The Supreme Court ruled 7-2 in favor of Illinois Rep. Michael Bost, a Republican.
House takes up next funding package ahead of shutdown deadline
The bills, which contain funding for the State and Treasury Departments, could stall if the House GOP has attendance issues or defections.
Vance, Rubio meeting with Greenland and Denmark's foreign ministers
The meeting comes one day after Greenland's Prime Minister Jens-Frederik Nielsen said at a news conference, "If we have to choose between the United States and Denmark here and now, we choose Denmark."
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RFK Jr.'s MAHA movement has picked up steam in statehouses
"Make America Healthy Again" policies driven by HHS Secretary Robert F. Kennedy Jr. have made major strides in state legislatures, with food additives among the most common targets.
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Vance, Rubio meeting with Greenland and Denmark's foreign ministers
The meeting comes one day after Greenland's Prime Minister Jens-Frederik Nielsen said at a news conference, "If we have to choose between the United States and Denmark here and now, we choose Denmark."
"Are You Dead," viral Chinese app, changing its name
The Chinese mobile app "Are You Dead?" which sounds an alarm if a user doesn't check in every 48 hours, says it will drop its catchy name after it drew international media attention.
Doctors arrested after 9 newborns die at hospital in Russia
The case has provoked anger and bewilderment from Russian politicians.
Despite Trump warning, Iran shopkeeper among many facing possible hanging
Iranian shopkeeper Erfan Soltani is among thousands of people who could face death sentences despite Trump's warning to Iran's rulers.
Japanese and South Korean leaders bang out surprise K-pop drum duet
South Korean President Lee Jae Myung says he always wanted to play the drums, so Prime Minister Sanae Takaichi surprised him after a summit, and they hit it off.
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Ali Larter talks what's ahead in "Landman"
Actor Ali Larter plays Angela Harris, the ex-wife of an oilman played by Billy Bob Thornton in the Paramount+ series "Landman." She talks to "CBS Mornings" about the series, working with Thornton and how she landed her role.
Actor Timothy Busfield turns himself in following child sex abuse allegations
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
François Arnaud on "Heated Rivalry" series
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Scott Adams, "Dilbert" comic strip creator, dies at age 68
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
NAACP Image Awards nominations
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"Are You Dead," viral Chinese app, changing its name
The Chinese mobile app "Are You Dead?" which sounds an alarm if a user doesn't check in every 48 hours, says it will drop its catchy name after it drew international media attention.
Woman says AI chatbot Grok generated sexual deepfake images of her
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How AI powered robots are helping small farms
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Mother speaks out over AI chatbot Grok
Elon Musk's AI chatbot Grok is facing intense criticism, accused of allowing X users to generate sexually explicit images of real women and children. One of the alleged victims is Ashley St. Clair, the mother of one of Musk's children. She said she discovered people used Grok to generate and publish sexualized deepfake images without her permission and share them on X. Musk has not responded to a request for comment.
British regulators on Grok AI images
British regulators are investigating X for lewd AI images generated by Grok, the AI arm of Elon Musk's social platform. Michael Goodyear, an associate professor at New York Law School, joins CBS News with more.
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Fossils found in cave shed light on where our species emerged
Fossilized bones and teeth dating to 773,000 years ago are providing a deeper understanding of the emergence of Homo sapiens.
The history and mystery of kissing
If you rang in the new year with a kiss, you took part in a tradition millions of years in the making. Scientists now say the origins of kissing go back much farther than most think. CBS News' Tina Kraus has more.
2025 was so hot it pushed Earth past critical climate change mark
2025 was the third hottest year on record and pushed Earth past a critical climate change mark, scientists say.
Major climate research center on Trump administration chopping block
The Trump administration intends to dismantle one of the world's leading climate research institutions, in Boulder, Colorado, over what it said were concerns about "climate alarmism."
Researchers capture video of rare polar bear adoption
The footage of a bear caring for an adopted cub was captured during the annual polar bear migration along the Western Hudson Bay in Churchill, Manitoba.
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Au pair testifies in man's murder trial
A trial is underway in northern Virginia for a man accused of plotting his wife's murder with help from his affair partner - the family's au pair. The former au pair was the first witness called to testify against Brendan Banfield. Jericka Duncan reports on the case.
Doctors arrested after 9 newborns die at hospital in Russia
The case has provoked anger and bewilderment from Russian politicians.
Man plotted murder to "get rid of" his wife after affair, au pair testifies
Brendan Banfield is charged with murder in the 2023 killings of Christine Banfield and Joseph Ryan at the Banfields' home in northern Virginia.
Uvalde teacher's emotional testimony in trial
Tuesday marked Day 5 in the trial of former Uvalde CISD police officer Adrian Gonzales over his response to the 2022 mass shooting at Robb Elementary. CBS News reporter Karen Hua has the latest.
Kiefer Sutherland arrested over alleged altercation with LA rideshare driver
Los Angeles police said they arrested "24" actor Kiefer Sutherland after he allegedly assaulted and threatened a rideshare driver.
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ISS astronauts prepare for early return
Crew-11 is preparing for an unprecedented early return to Earth over concerns for an astronaut's medical condition aboard the International Space Station. Mike Massimino, a former NASA astronaut and engineering professor at Columbia University, joins with more.
Former astronaut on ISS crew coming home early
Four members of Crew-11 are preparing to return to Earth from the International Space Station later this week after a "medical concern" prompted NASA to cancel a scheduled spacewalk. Former astronaut Dr. Scott Parazynski joins with his reaction.
Space station changes command, setting stage for Crew 11 departure
Outgoing space station commander Mike Fincke, a member of the returning Crew 11, turned the station over to cosmonaut Sergey Kud-Sverchkov, saying the combined crew had developed deep friendships.
Astronaut says early return to Earth is "right call," but "bittersweet"
Mike Fincke thanked NASA for making crew health the agency's top priority.
NASA hopes to return Crew 11 to Earth next week over medical issue
NASA officials reported Thursday that an unidentified member of Crew 11 was dealing with "a medical situation" that would require the crew to return to Earth sooner than anticipated.
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