Cost of buying a home in America reaches a new high, Redfin says
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
Mortgage rates soared to their highest level of the year this week, according to Mortgage News Daily. Holden Lewis, a home and mortgage reporter for NerdWallet, joins CBS News with tips on buying a home.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The U.S. economy added 275,000 jobs in February and the unemployment rate unexpectedly rose to 3.9% from 3.7%, according to data released Friday. CBS News business analyst Jill Schlesinger and Daniel Zhao, a lead economist and senior manager at Glassdoor, join CBS News with a look at the numbers.
Aspiring homebuyers face one of the toughest markets in years, with one analyst pointing to a "toxic brews" chilling sales.
While inflation has shown signs of cooling, mortgage rates and home prices are still stubbornly high, making it challenging for many Americans to buy homes. Elise Preston reports.
After a hotter-than-expected inflation report on Tuesday, economists now believe the Fed could postpone its first rate cut. Here's what to know.
Mortgage rates are expected to fall slightly this year, according to real estate experts looking at the data. Jessica Lautz, the deputy chief economist and vice president of research at the National Association of REALTORS, joins CBS News to discuss if homeowners should refinance their mortgages.
While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according to researchers, you need a salary of close to $83,000 to afford a two-bedroom apartment there. Nancy Chen reports.
The Federal Reserve Board announced it will not change interest rates for now as it eyes how to lower inflation without running the risk of entering a recession. CBS News business analyst Jill Schlesinger looks at the Fed's decision and the upcoming cues to look out for in the economy.
The big picture on Wall Street is that it's been a solid stretch for the American economy. But for those hoping to buy a home, pay rent, or afford groceries, it's not all quite as rosy.
Some financial experts expect mortgage rates to decline gradually over the coming months. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News with the data behind this projection.
In a positive sign for the housing market, a growing number of consumers think mortgage rates are likely to decline this year.
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.
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 rates are edging down from their highest level in 23 years as inflation around the U.S. continues to cool.
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.
"Even places that historically have been affordable now need six figures," according to Redfin's chief economist.
Many homeowners are struggling to keep up with their mortgage payments amid rising costs and high inflation. Here's how to catch up.
Deciding on an adjustable-rate mortgage boils down to how long you plan to own a property and if your income is stable.
With mortgage rates topping 8%, some home buyers are hoping to see some relief with the Federal Reserve's next decision.
Buying a home is now 52% more expensive than renting, a financial gap that is larger than during the 2006 housing bubble.
The average rate for a 30-year home loan crossed the 8% threshold this week, deepening the affordability crisis for homebuyers.
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.
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.
Stormy Daniels was called to the witness stand to testify at former President Donald Trump's trial in New York on Tuesday.
The start date for former President Trump's classified documents trial was originally scheduled for May 20.
The lawsuit claims that the measure, signed into law by President Biden, is unconstitutional.
FDIC Chair Martin Gruenberg is also a focus of the report, which claims he treated staff in a "demeaning and inappropriate manner."
A sixth construction worker was recovered from the Key Bridge wreckage site Tuesday.
The shooting comes amid a rap beef between Drake and Kendrick Lamar, but police said they could not speak to a motive at this stage of the investigation.
Israeli forces take "operational control" of the Gaza side of the vital Rafah border crossing as Netanyahu dismisses the latest cease-fire proposal.
A tornado destroyed homes and toppled trees and power lines when it roared through a small northeast Oklahoma city, one of several twisters that erupted in the central U.S. amid a series of powerful storms.
Approximately 450 planes potentially could be involved, a source told CBS News.
According to a new study, "vehicles are likely important sources of human exposure to potentially harmful [flame retardants]."
Stormy Daniels was called to the witness stand to testify at former President Donald Trump's trial in New York on Tuesday.
Panera is phasing out a highly caffeinated selection of lemonade beverages that's at the center of several lawsuits.
Alexander Louie, 34, told authorities he was not taking his HIV medication so he could purposely infect his partners.
FDIC Chair Martin Gruenberg is also a focus of the report, which claims he treated staff in a "demeaning and inappropriate manner."
Panera is phasing out a highly caffeinated selection of lemonade beverages that's at the center of several lawsuits.
FDIC Chair Martin Gruenberg is also a focus of the report, which claims he treated staff in a "demeaning and inappropriate manner."
Starbucks, once one of America's most cherished brands, is in a rut. Even long-time former CEO Howard Schultz is worried.
Video gamers eagerly awaiting a successor to Nintendo's hit Switch system finally got a clue on when to expect a new device.
Nvidia and Microsoft are among the backers of Wayve and its embodied AI technology, described as "GPT for driving."
Stormy Daniels was called to the witness stand to testify at former President Donald Trump's trial in New York on Tuesday.
The start date for former President Trump's classified documents trial was originally scheduled for May 20.
Rep. Marjorie Taylor Greene said she would force a vote on ousting House Speaker Mike Johnson this week, but appeared to be retreating on the threat — for now.
Rep. Victoria Spartz, an Indiana Republican and the first Ukrainian-born member of Congress, is facing a primary challenge for her seat on Tuesday.
Group of Democrats from states including Minnesota, Nevada and Pennsylvania urges Biden "to use all tools at your disposal" to address border security issues.
According to a new study, "vehicles are likely important sources of human exposure to potentially harmful [flame retardants]."
Panera is phasing out a highly caffeinated selection of lemonade beverages that's at the center of several lawsuits.
Recall includes yogurt pretzels and other confections sold by retailers such as Dollar General, HyVee, Target and Walmart.
A survey from the American Academy of Dermatology finds more than one-third of adults reported getting a sunburn last year — the highest number since 2020.
Hormel Foods says potentially contaminated products were shipped to Publix and Dollar Tree distribution warehouses.
The shooting comes amid a rap beef between Drake and Kendrick Lamar, but police said they could not speak to a motive at this stage of the investigation.
2 Ukrainian security officers have been detained and accused of treason over an alleged Russian plot to kill President Volodymyr Zelenskyy.
South African rescuers are "actually hearing people through the rubble" after a building collapsed in the city of George.
Erin Patterson, who is accused of serving her ex-husband's family death cap mushrooms with lunch, pleaded not guilty to eight charges of murder and attempted murder.
Heineken said the investment is a demonstration of "confidence in the resilience of the great British local in the face of uncertainty."
Stars were in full bloom at the Met Gala Monday night. The dress code was "Garden of Time." Rachel Smith from "Entertainment Tonight" breaks down fashion's biggest night.
Five-time Grammy winner Brittany Howard talks about how her latest album was born from a period of intense soul-searching and solitude in Nashville.
Gayle King gives viewers a behind-the-scenes look at her preparation and journey to the Met Gala.
Oprah Winfrey unveils "Long Island" as her latest book club pick on "CBS Mornings." The sequel to Colm Tóibín's best-selling novel "Brooklyn," "Long Island" continues the story of Eilis Lacey more than two decades later now as a mother and wife in America.
The 2024 Met Gala saw hundreds of celebrities looking their best on fashion's biggest night.
Video gamers eagerly awaiting a successor to Nintendo's hit Switch system finally got a clue on when to expect a new device.
The lawsuit claims that the measure, signed into law by President Biden, is unconstitutional.
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.
Boeing's Starliner was set to make its maiden voyage to the International Space Station, with its first piloted launch Monday night. But the launch, already pushed back following years of delays, was scrubbed with less than two hours to go before liftoff. Mark Strassmanm reports.
Sidechat, an app launched in 2022 where students can post anonymously about their colleges, is becoming a tool for those choosing to protest at U.S. campuses. Amanda Silberling, a senior culture writer for TechCrunch, joins CBS News with more details on the app.
The visualization, produced on a NASA supercomputer, allows users to experience flight towards a supermassive black hole.
Boeing's Starliner was set to make its maiden voyage to the International Space Station, with its first piloted launch Monday night. But the launch, already pushed back following years of delays, was scrubbed with less than two hours to go before liftoff. Mark Strassmanm reports.
Reported sightings of giant, toxic, invasive hammerhead flatworms are on the rise in parts of southeastern Canada. Experts say the worms can grow up to 3 feet long and pose a risk to children, pets and other small animals. Peter Ducey, PH.D. and distinguished teaching professor at SUNY Cortland, joins CBS News to discuss the worm.
When NASA added a tiny four-pound helicopter as a stowaway to its Mars 2020 lander, it expected the helicopter to fly five very brief flights in the thin Martian atmosphere. Yet, Ingenuity would far surpass all expectations.
When NASA added a drone named Ingenuity to its Mars 2020 rover Perseverance, it expected the tiny four-pound helicopter to fly a total of five very brief missions in the thin Martian atmosphere. But Ingenuity far surpassed all expectations, flying dozens of flights before suffering damage to its rotors in January. Correspondent David Pogue reports on how the tiny drone, created from off-the-shelf parts, continued to provide valuable data and images from the Red Planet three years into its mission.
Alexander Louie, 34, told authorities he was not taking his HIV medication so he could purposely infect his partners.
Officials are releasing new details in the deaths of two Australians and an American who were found dead near a camping site in Mexico with gunshot wounds last week. CBS News correspondent Carter Evans has more.
The shooting comes amid a rap beef between Drake and Kendrick Lamar, but police said they could not speak to a motive at this stage of the investigation.
Erin Patterson, who is accused of serving her ex-husband's family death cap mushrooms with lunch, pleaded not guilty to eight charges of murder and attempted murder.
A Kansas City-area man, 75, admitted he killed his hospitalized wife, saying he couldn't take care of her or afford her medical bills, court records say.
The visualization, produced on a NASA supercomputer, allows users to experience flight towards a supermassive black hole.
Boeing's Starliner space capsule is set for a historic launch Monday night. CBS News space consultant Bill Harwood looks at the long-awaited mission into orbit, and what it could mean for the future of space travel.
Boeing's Starliner was set to make its maiden voyage to the International Space Station, with its first piloted launch Monday night. But the launch, already pushed back following years of delays, was scrubbed with less than two hours to go before liftoff. Mark Strassmanm reports.
The planned piloted launch of Boeing's long-delayed Starliner crew ferry ship was called off with less than two hours to go before liftoff.
After years of delays, Boeing is set to launch its Starliner spacecraft with a crew for the first time Monday. The test flight will carry two astronauts to the International Space Station.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
We look back at the life and career of the longtime host of "Sunday Morning," and "one of the most enduring and most endearing" people in broadcasting.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Sources tell CBS News the U.S. has postponed the delivery of some ammunition to Israel over the Biden administration's opposition to a major operation in Gaza's southern city of Rafah. CBS News foreign correspondent Ramy Inocencio has the latest.
Federal Judge Aileen Cannon on Tuesday indefinitely postponed the Justice Department's classified documents case against former President Donald Trump in Florida. Plus, prosecutors in Trump's New York criminal case put adult film actor Stormy Daniels on the witness stand. CBS News' Scott MacFarlane and Katrina Kaufman have more.
A new study is raising concern over drivers' exposure to flame retardant chemicals used on some car seats. The study found that "vehicles are likely important sources of human exposure" to the potentially harmful chemicals. Anna Werner reports.
Sources tell CBS News that the U.S. has postponed delivery of some ammunition to Israel. One U.S. official says the delay is meant to send a message to the Israeli government about the Biden administration's opposition to the operation in Rafah. CBS News senior White House and political correspondent Ed O'Keefe has more.
President Biden on Tuesday marked Holocaust Remembrance Day, when Israel commemorates the millions of Jews murdered during the Holocaust. In a speech, Mr. Biden condemned antisemitism and criticized recent protests at college campuses. Ed O'Keefe reports.