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.
Mortgage Rates
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.
Home prices drop in some parts of U.S., but home-buying struggles continue
In Northern California, home prices jumped during the pandemic. Since then, the region has seen some of the steepest price declines in the country.
Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Coastal home buyers face low inventory
Home buyers in many U.S. coastal areas are facing a competitive real estate market, in part thanks to a spiking interest rate. Buyers are being advised to prepare to settle, bring cash offers and close quickly. Carter Evans and Mark Strassman report.
Mortgage rates are shooting up again, raising homeownership costs
Average interest rate on a typical home loan is edging toward 7%, the highest level in seven months.
Home prices fall across U.S.
According to Redfin, the median home sale price in April was down roughly 4% from last year. That's a decline of nearly $18,000. This follows record-high prices during the pandemic. James Rodriguez, a senior real estate reporter at Insider, joins CBS News to discuss.
Mortgage rates driving lower housing supply
Rising mortgage rates are leading to a reduction in homes on the market. Rachel Siegel, an economic policy reporter for The Washington Post, joins CBS News to discuss how this affects the economy.
Home sale prices decline in parts of U.S.
Nearly one-third of the U.S. has seen a drop in the price of homes for sale since the start of 2023. CBS News' Errol Barnett and Lana Zak are joined by Alcynna Lloyd, economy reporter for Insider, to discuss the trend.
How interest rate hikes affect debt, loans
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Mortgage fee structure 2023: Here's how it's changing
A little-known surcharge set to change on May 1 could impact consumers in different ways.
Trump issues new executive orders targeting birthright citizenship
His earlier executive order along those lines was struck down by the Supreme Court in June.
Live
Yemen's Houthis escalate deadly attacks on Saudi-backed troops
Yemen's Houthi rebels launch fresh attacks on Saudi-backed government troops, says Yemeni state media, as Cruz says Trump must seek "regime collapse."
Murkowski says she'll vote against Blanche's nomination for attorney general
Republican Sen. Lisa Murkowski said Friday she will oppose Todd Blanche's nomination as attorney general, narrowing the confirmation path for President Trump's pick to lead the Justice Department.
Cruz calls for Trump to arm Iran's protesters: "Our objective should be regime collapse"
GOP Sen. Ted Cruz told Aaron MacLean on the "School of War" podcast that President Trump should heap more pressure on Iran — including by arming Iranians to "let them overthrow their own government."
Trump-endorsed Rep. Andy Ogles projected to lose GOP primary in Tennessee
Two-term Rep. Andy Ogles lost the Republican primary for his Tennessee House seat, the Associated Press projects, despite securing an endorsement from President Trump.
FAA orders inspections of 737 Max jets after cracks found in older planes
The Federal Aviation Administration has ordered inspections of hundreds of Boeing 737 Max jets after cracks were found in parts of some older model Boeing planes.
"Pink flags" of postpartum psychosis — and more takeaways from "Healthful"
Perinatal psychiatrist Dr. Uruj Kamal Haider and Kriti Lodha joined a special edition of "Healthful" to talk more about mental health conditions, including postpartum psychosis.
First on CBS
Trump to announce $180 million to boost mining education
President Trump is planning to announce over $180 million in grants to boost educational programs for the mining industry, CBS News has learned, part of a bid to increase critical mineral production.
Flesh-eating bacteria have killed 5 in Louisiana this year, officials say
A flesh-eating bacterium found in warm coastal waters is responsible for at least five deaths so far this year in Louisiana, state health officials reported Thursday.
U.S.
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July jobs report reveals unexpected loss of 23,000 jobs
Friday's jobs report showed employers shed jobs last month, rather than adding 95,000 new hires that had been forecast by economists.
Warren presses U.S. companies to share tariff refunds with customers
Companies receiving billions in refunds for U.S. tariffs struck down by the Supreme Court should return money to consumers, Sen. Elizabeth Warren said.
Feds could scrap rules requiring airlines to disclose airfares in full
A Transportation Department proposal could obscure the cost of a plane ticket, aviation experts warn. Here's what to know.
"Pink flags" of postpartum psychosis — and more takeaways from "Healthful"
Perinatal psychiatrist Dr. Uruj Kamal Haider and Kriti Lodha joined a special edition of "Healthful" to talk more about mental health conditions, including postpartum psychosis.
These NYC centers allow hard drug use in-house. Nearly 5 years in, is it helping?
An addiction-services nonprofit approved by the city focuses on harm reduction for hard drug users — to the chagrin of some in the neighborhood.
MoneyWatch
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July jobs report reveals unexpected loss of 23,000 jobs
Friday's jobs report showed employers shed jobs last month, rather than adding 95,000 new hires that had been forecast by economists.
Warren presses U.S. companies to share tariff refunds with customers
Companies receiving billions in refunds for U.S. tariffs struck down by the Supreme Court should return money to consumers, Sen. Elizabeth Warren said.
Feds could scrap rules requiring airlines to disclose airfares in full
A Transportation Department proposal could obscure the cost of a plane ticket, aviation experts warn. Here's what to know.
First on CBS
Trump to announce $180 million to boost mining education
President Trump is planning to announce over $180 million in grants to boost educational programs for the mining industry, CBS News has learned, part of a bid to increase critical mineral production.
Court orders Meta and Instagram to pay $567M to address kids' mental health
A New Mexico court has ordered Instagram and Facebook parent company Meta to pay $567 million to address harms to young people from its platforms.
Politics
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Warren presses U.S. companies to share tariff refunds with customers
Companies receiving billions in refunds for U.S. tariffs struck down by the Supreme Court should return money to consumers, Sen. Elizabeth Warren said.
Murkowski says she'll vote against Blanche's nomination for attorney general
Republican Sen. Lisa Murkowski said Friday she will oppose Todd Blanche's nomination as attorney general, narrowing the confirmation path for President Trump's pick to lead the Justice Department.
First on CBS
Trump to announce $180 million to boost mining education
President Trump is planning to announce over $180 million in grants to boost educational programs for the mining industry, CBS News has learned, part of a bid to increase critical mineral production.
Cruz calls for Trump to arm Iran's protesters: "Our objective should be regime collapse"
GOP Sen. Ted Cruz told Aaron MacLean on the "School of War" podcast that President Trump should heap more pressure on Iran — including by arming Iranians to "let them overthrow their own government."
Trump-endorsed Rep. Andy Ogles projected to lose GOP primary in Tennessee
Two-term Rep. Andy Ogles lost the Republican primary for his Tennessee House seat, the Associated Press projects, despite securing an endorsement from President Trump.
HealthWatch
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"Pink flags" of postpartum psychosis — and more takeaways from "Healthful"
Perinatal psychiatrist Dr. Uruj Kamal Haider and Kriti Lodha joined a special edition of "Healthful" to talk more about mental health conditions, including postpartum psychosis.
The Truth About Postpartum Psychosis
The issue of postpartum psychosis has come to the forefront amid the murder trial of Lindsay Clancy, the 35-year-old mother accused of killing her three children. What are the signs of a mental break, and is the healthcare system failing mothers? In this special episode of Healthful, Norah speaks with Dr. Uruj Kamal Haider, a perinatal psychiatrist who has treated patients with the rare and severe mental health emergency. She also speaks with Kriti Lodha, a postpartum psychosis survivor who has made it her mission to help other mothers.
Flesh-eating bacteria have killed 5 in Louisiana this year, officials say
A flesh-eating bacterium found in warm coastal waters is responsible for at least five deaths so far this year in Louisiana, state health officials reported Thursday.
Minnesota Chipotle burrito bowl meal led to sepsis hospitalization, lawsuit says
A Minnesota woman says she fainted, spiked a 102-degree fever, and was hospitalized with sepsis three days after eating a chicken burrito bowl at a Chipotle in Roseville, and genetic testing connected her case to a multistate outbreak, according to a lawsuit filed Tuesday.
What Fauci has said about COVID origins, gain-of-function research
Thursday's vote to hold Dr. Anthony Fauci in contempt of Congress follows years of tension with GOP Sen. Rand Paul, hinging on the origins of the coronavirus and a controversial type of research.
World
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Live
Yemen's Houthis escalate deadly attacks on Saudi-backed troops
Yemen's Houthi rebels launch fresh attacks on Saudi-backed government troops, says Yemeni state media, as Cruz says Trump must seek "regime collapse."
Cruz calls for Trump to arm Iran's protesters: "Our objective should be regime collapse"
GOP Sen. Ted Cruz told Aaron MacLean on the "School of War" podcast that President Trump should heap more pressure on Iran — including by arming Iranians to "let them overthrow their own government."
5 dead in Thailand high school shooting after suspect kills grandparents
A teenager described as "troubled" and "bullied" by a classmate killed his grandparents before gunning down five staff members at a high school in Thailand, police said.
U.S. Marine vet, detained in Russia since 2022, hospitalized in serious condition
Robert Gilman, 32, is being held at a Russian hospital in what his advocate, Eric Lebson of Global Reach, described as a "dissociative stupor."
Star Cambridge professor resigns amid plagiarism allegations
Jason Arday, who joined Cambridge in 2023 at the age of 37, became one of Britain's most high-profile academics after sharing an extraordinary life story.
Entertainment
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Entertainment
Diarra Kilpatrick on her show's new season
Diarra Kilpatrick, who stars in "Diarra from Detroit," joins "CBS Mornings" to discuss the show's new season, which premiered on Paramount+ last week.
Amanda Kloots on her new dating show
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Inside the risky business of Broadway musicals
The costs of a Broadway musical production have skyrocketed in recent years. CBS News contributor Jamie Wax reports.
Aaron Pierre talks new series, "Lanterns"
Actor Aaron Pierre is starring as John Stewart in the new series "Lanterns." He tells "CBS Mornings" why this character is special to him, what it's like to join the DC Universe and how he managed undergoing surgery during the audition process.
Stranger rescues band from car troubles
A kind stranger named Ernie helped rock band The Autumn Kings make it to their tour stop after their car broke down in Wisconsin. Matt Gutman reports.
Technology
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Technology
Kids dropping phones for summer jobs
Meet the children leaving their devices behind this summer to flex their entrepreneurial muscles with summer jobs.
Concerns over misuse of Flock cameras
Joseph Cox, co-founder of 404 Media, joins CBS News to discuss criticisms of Flock cameras and the push by some cities to replace Flock cameras with different surveillance devices like license plate readers.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Cyberattacks target U.S. water systems
U.S. officials suspect Iran-backed hackers may be behind cyberattacks that have been reported in at least 12 states. CBS News homeland security correspondent Nicole Sganga has more details.
Meta says its AI model breached a third-party company during testing
Tech giant Meta revealed Wednesday that one of its artificial intelligence models hacked another organization during testing, the third time in recent weeks that an AI model has improperly accessed a third-party company.
Science
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Genetically altered beagles offer hope for dog lovers with allergies
Matt Walker, a geneticist and the CEO of Kindred Companion Sciences, joins "CBS Mornings" with his gene-altered beagle, Bailey, to discuss creating future options for people with severe pet allergies.
Most detailed images taken of sun's surface revealed
Researchers were able to peek at the sun's scorching surface with the help of the National Science Foundation's Daniel K. Inouye Solar Telescope, located on the island of Maui in Hawaii.
Bezos, DiCaprio set up massive wildlife fund
Hollywood actor Leonardo DiCaprio and Amazon founder Jeff Bezos have announced a $200 million fund set to protect species on the brink of extinction. Carter Evans has the story.
Dramatic photos show lava spewing from Fuego volcano in Guatemala
Guatemalan officials on Monday began evacuating two villages near the Fuego volcano due to the ongoing eruption.
Rare footage of humpback whale birth captured on drone video
The footage is believed to be only the fourth complete humpback whale birth ever recorded on film anywhere in the world and the first-ever captured by drone.
Crime
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5 dead in Thailand high school shooting after suspect kills grandparents
A teenager described as "troubled" and "bullied" by a classmate killed his grandparents before gunning down five staff members at a high school in Thailand, police said.
Cyber scams costing Americans billions
Matt Gutman reports on how he almost fell for a scam involving his bank as more Americans are becoming victims to similar cyber crimes each year.
Concern grows over misuse of Flock cameras
Privacy groups are expressing concerns over Flock cameras, the devices that capture license plates and are often used in criminal investigations. They argue that police may be using them for improper reasons. Mark Strassman reports.
Cambridge professor accused of plagiarism resigns
Jason Arday, who made history as Cambridge's youngest Black professor, has resigned after accusations of plagiarism and fabrications in his biography. Arday has denied any deliberate wrongdoing. Holly Williams has the details.
Young children hit woman with stolen car
Police say two children under the age of 10 stole and crashed their parents' car in Oakland, California, on Thursday, sending a woman and themselves to the hospital. Da Lin reports.
Space
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Most detailed images taken of sun's surface revealed
Researchers were able to peek at the sun's scorching surface with the help of the National Science Foundation's Daniel K. Inouye Solar Telescope, located on the island of Maui in Hawaii.
SpaceX rocket booster slams into moon, creating crater that could be 16 feet deep
The impact wasn't visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
Russian Soyuz brings three home after 8 months at space station
The Soyuz MS-28 landing in Kazakhstan brought a 241-day stay in space to a successful conclusion.
SpaceX's Super Heavy-Starship blasts off on 13th test flight
An upgraded version of the world's most powerful rocket is key to landing NASA astronauts on the moon in the agency's Artemis program.
Meteorite that hit home contains "alien world chemistry," experts say
When scientists examined the preserved fragments of a meteorite that crashed in 2024, they found brine-like fluids and key molecules.
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Latest CBS News Videos
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The Truth About Postpartum Psychosis
The issue of postpartum psychosis has come to the forefront amid the murder trial of Lindsay Clancy, the 35-year-old mother accused of killing her three children. What are the signs of a mental break, and is the healthcare system failing mothers? In this special episode of Healthful, Norah speaks with Dr. Uruj Kamal Haider, a perinatal psychiatrist who has treated patients with the rare and severe mental health emergency. She also speaks with Kriti Lodha, a postpartum psychosis survivor who has made it her mission to help other mothers.
Cruz calls for Trump to arm Iranian protesters
As the U.S. angles for a deal with Iran, Republican Sen. Ted Cruz told Aaron MacLean on the "School of War" podcast that President Trump should heap more pressure on Iran's regime — including by arming Iranians to "let them overthrow their own government."
61 years since Voting Rights Act was signed
Sixty-one years ago, President Lyndon B. Johnson signed the Voting Rights Act into law, helping advance equal access to the ballot box by banning racial discrimination. Now, court rulings, new election laws and federal policy proposals are renewing questions about voter access. Election law expert and CBS News contributor David Becker has more.
Louisiana officials warn of flesh-eating bacteria
As the summer season continues to bring people to the beach, the Louisiana Health Department warns to take precautions against a potentially fatal flesh-eating bacteria found in warm coastal waters. Officials confirmed nine cases this year and five deaths.
Hall of Fame Game kicks off 2026 NFL preseason
The 2026 NFL preseason kicks off Thursday night as the Carolina Panthers take on the Arizona Cardinals in the annual Hall of Fame Game. Zack Rosenblatt, senior NFL writer for the Athletic, joins CBS News to discuss the game and the upcoming season.