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.
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.
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
The Federal Reserve left interest rates unchanged in its September meeting in spite of inflation accelerating in August and remaining above the central bank's target rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe have the latest.
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
The Fed is meeting today to decide whether to again raise rates as it battle inflation. Here's what it means for interest rates and mortgages.
The Federal Reserve is expected to announce its decision on another possible interest rate hike Wednesday afternoon. Jeanna Smialek, a Federal Reserve and economics reporter for The New York Times, joined CBS News to discuss the chances of a rate increase.
U.S. Senator Josh Hawley's bill comes as Americans have been saddled with more than $1 trillion in credit card debt.
Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
Unemployment jumped from 3.5% to 3.8% this month, a sign that the job market is cooling. The market also added 187,000 jobs. The Biden administration said this showed more people joining the workforce. Meanwhile, the Federal Reserve is considering another interest hike amid soaring inflation. Christina Ruffini reports.
Officials with the Federal Reserve won't convene again until September after hiking interest rates last month for the 11th time in the past year and a half. Jeanna Smialek, who covers the Fed and the economy for The New York Times, joined CBS News to discuss whether there will be another rate increase.
Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, discussed the bright spots on the economic front from last week.
There were some positive signs last week that the economy might be holding firm. Mark Strassmann has the details.
Missed the second half of the show? The latest on…former Arkansas Gov. Asa Hutchinson, who is seeking the Republican nomination for president, discussed a proposed mental acuity test for politicians over 75, Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, discussed the bright spots on the economic front from last week, and San Antonio Mayor Ron Nirenberg discussed the ongoing heat wave has put much of the Southeastern U.S. under dangerous heat alerts.
Data from FactSet shows existing homes and new homes are now selling for the same median price. Ten years ago, new home prices were on average $60,000 more expensive than existing homes. A big reason for that could be a lack of housing stock due to potential sellers hanging onto their homes thanks to lower interest rates on their mortgages. Sami Sparber, real estate reporter for Axios, joined CBS News to talk about the trend.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After briefly pausing its war on inflation last month, the Federal Reserve is resuming the battle by hiking its benchmark interest rate to the highest level in 22 years. Hope King, senior business reporter for Axios, joined CBS News as the Fed announced the rate hike.
The Federal Reserve is expected to raise interest rates again Wednesday afternoon after pausing in June. CBS News business analyst Jill Schlesinger discusses how this hike will affect Americans.
The Federal Reserve is expected to raise interest rates again Wednesday after pausing more than a year of rate hikes in June. Experts believe the central bank will increase rates by one-quarter of a percentage point as part of its ongoing fight against high inflation. Joe Rennison, markets reporter for The New York Times, joined CBS News to discuss.
The U.S. economy added fewer jobs than predicted in June, sending stocks seesawing even as the unemployment rate remained steady. The report sparked fears that the Fed will raise interest rates again. Natalie Brand is at the White House with more.
Job creation slowed down last month, but Friday's jobs report still outperformed some economists' expectations. Javier David, managing editor for business and markets for Axios, joined CBS News to discuss what the numbers might mean for interest rate changes from the Federal Reserve.
New economic indicators closely watched by the Federal Reserve suggest an expected interest rate hike in July may not be locked in after all. The personal consumption expenditures index shows prices easing slightly for the month of May as consumer spending begins to slow. New York Times business reporter Jordyn Holman joined CBS News with more.
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.
For the first time in 15 months, the Fed paused hikes in interest rates as inflation has started to wane — although it remains high. Mark Strassmann reports.
CBS News business analyst Jill Schlesinger breaks down the decision by the Federal Reserve to pause raising interest rates this month, and how the U.S. is doing with inflation.
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Israel's government says a drone was launched toward the prime minister's house, with no casualties.
Crowds had gathered on Sapelo Island for a celebration of its tiny Gullah-Geechee community of Black slave descendants.
Letter deliverers have been working without a contract since May 2023.
The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday that could end the Boeing strike.
Hurricane Oscar, which the hurricane center characterized as "tiny," formed Saturday off the coast of the Bahamas.
Stanford University says the psychologist behind the controversial "Stanford Prison Experiment" has died.
The Mississippi Bureau of Investigation is assisting in the case after the shooting in Holmes County, a spokesperson told CBS News.
A major power plant failed in Cuba, affecting the entire national system and leaving millions without power.
A man accused of drugging and sexually assaulting nine women at his homes in Hermosa and Redondo Beach, allegedly killing one of the victims when he drugged her, is facing more than a dozen felony charges, prosecutors said Friday.
Crowds had gathered on Sapelo Island for a celebration of its tiny Gullah-Geechee community of Black slave descendants.
The Rock & Roll Hall of Fame class of 2024 includes Cher, Mary J. Blige, Ozzy Osbourne, Dave Matthews Band and Dionne Warwick, among others.
The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday that could end the Boeing strike.
Letter deliverers have been working without a contract since May 2023.
The Mississippi Bureau of Investigation is assisting in the case after the shooting in Holmes County, a spokesperson told CBS News.
The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday that could end the Boeing strike.
Letter deliverers have been working without a contract since May 2023.
The frozen waffles, made by Treehouse Foods, were sold under store brands including Walmart's Great Value and Target's Good and Gather.
Navigating the insurance process after a natural disaster damages your home can be daunting. Here are some key tips.
Donald Trump said he'd appoint a CEO who is 78, his own age. But chief executives of top companies who are his age or older are rare.
"If he's exhausted being on the campaign trail, is he fit to do the job?" Harris asked as Trump refuses to release detailed medical records.
Donald Trump said he'd appoint a CEO who is 78, his own age. But chief executives of top companies who are his age or older are rare.
With only weeks before the November 5 election, here's how top economists assess the health of the U.S. economy.
"If Mr. Trump returns, we will open multiple bottles of champagne," Hungarian Prime Minister Viktor Orbán said earlier this month.
The judge overseeing President Donald Trump's 2020 election interference case released more evidence collected by special counsel Jack Smith on Friday.
Brooklinn Khoury was 20 years old when a family member's pet launched at her face and bit off her upper lip.
"If he's exhausted being on the campaign trail, is he fit to do the job?" Harris asked as Trump refuses to release detailed medical records.
The worst rates of the infection known as "walking pneumonia" or "white lung pneumonia" are in young children ages 2 to 4 years old.
Rwanda says it's gaining control of a Marburg outbreak, but U.S. authorities are taking no chances as another killer virus spreads fast.
Among new mothers in the U.S., 1 in 8 suffer from postpartum depression, according to the CDC.
Hurricane Oscar, which the hurricane center characterized as "tiny," formed Saturday off the coast of the Bahamas.
A major power plant failed in Cuba, affecting the entire national system and leaving millions without power.
A chartered bullet train filled with thrill-seekers descended into a zombie apocalypse just in time for Halloween.
The Atlantic Hurricane season has been busy with 15 named storms already forming this year. The season runs through Nov. 30.
The father of former One Direction star Liam Payne arrived in Buenos Aires to arrange for the return of his son's body to England.
The Rock & Roll Hall of Fame class of 2024 includes Cher, Mary J. Blige, Ozzy Osbourne, Dave Matthews Band and Dionne Warwick, among others.
The father of former One Direction star Liam Payne arrived in Buenos Aires to arrange for the return of his son's body to England.
Aaron Frazer honed his musical interest from a young age, learning the drums at 9 years old. He went on to study music at Indiana University, but his big break came when he formed the now-acclaimed R&B group Durand Jones & the Indications. In 2021, he released his lauded solo debut, followed by a second collection this summer. Now, from his most recent album “Into The Blue,” here is Aaron Frazer with “Easy To Love.”
Aaron Frazer honed his musical interest from a young age, learning the drums at 9 years old. He went on to study music at Indiana University, but his big break came when he formed the now-acclaimed R&B group Durand Jones & the Indications. In 2021, he released his lauded solo debut, followed by a second collection this summer. Now, from his most recent album “Into The Blue,” here is Aaron Frazer with “Time Will Tell.”
Aaron Frazer honed his musical interest from a young age, learning the drums at 9 years old. He went on to study music at Indiana University, but his big break came when he formed the now-acclaimed R&B group Durand Jones & the Indications. In 2021, he released his lauded solo debut, followed by a second collection this summer. Now, from his most recent album “Into The Blue,” here is Aaron Frazer with “Fly Away.”
Gordon Lubold from The Wall Street Journal joins "CBS Mornings Plus" to discuss the rise in drone activity over restricted U.S. military airspaces.
Dr. Marcus Collins, author of "For the Culture," joins "CBS Mornings Plus" to discuss the influence of social media on voter decision-making. With 19 days left in the race, a CBS News poll reveals more than 20% of voters frequently use social platforms to stay informed.
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.
Just ahead of the holiday shopping rush, Apple is giving iPad minis their first update in years while Amazon is offering a new line of Kindle e-readers. CNET editor-at-large Scott Stein joined CBS News to discuss the devices.
Two Sudanese brothers are charged with running "Anonymous Sudan," one of the most prolific cyberattack-for-hire gangs of all time.
The National Oceanic and Atmospheric Administration published its winter outlook for this coming December, January and February. Experts anticipate warmer-than-average temperatures for much of the country. CBS News Sacramento meteorologist Tracy Humphrey joins to discuss.
Hurricanes Helene and Milton caused so much complex havoc that damages totals are likely join the infamous ranks of Katrina, Sandy and Harvey as super costly $50-billion-plus killers, experts say.
On Wednesday, the Supreme Court said it will allow the Environmental Protection Agency to enforce new greenhouse gas emissions limits for power plants. Michael Gerrard, a professor at Columbia Climate School, joins "The Daily Report" to discuss.
White blobs of "a mystery substance" dotting beaches across Canada's far northeast Newfoundland and Labrador province spark an investigation.
As the southern U.S. reels from back-to-back hurricanes, researchers estimate that millions will move away from areas with extreme weather in the coming decades. Senior research geographer Dr. Alexander de Sherbinin joins CBS News to discuss the research and which parts of the U.S. will likely be most affected.
Richard Allen stands accused of killing the girls, Abby Williams and Libby German, in 2017.
As the presidential election nears, the issue of crime is weighing on the minds of voters. A CBS News poll taken earlier this year found 63% of voters said crime would be a factor in who they vote for, despite FBI data showing reported violent crime fell in 2023. In Chicago, a group of women is trying to continue to lower crime rates end the cycle of violence in the city.
Disturbing new details and heart-wrenching testimony were given during the first day of the Delphi murders trial. Prosecutors revealed how Abby Williams, 13, and Libby German, 14, were killed on a hiking trail more than seven years ago. Here's what to know about the case.
Opening statements were heard Friday in the trial of a man charged with murder in the 2017 slayings of two teen girls in Delphi, Indiana. The two had gone for a hike along a bridge trail and their bodies were found the following day about a half-mile from where they were last seen. The suspect, Richard Allen, was arrested in 2022. Meg Oliver reports from the courthouse.
Richard Allen's trial is underway in Indiana. Allen is accused of killing two teenage girls in a case known as the Delphi murders. He pleaded not guilty to all charges. CBS News' Meg Oliver reports.
NASA's solar-powered Europa Clipper took off Monday from the Kennedy Space Center in Florida. The spacecraft is projected to reach Jupiter by April 2030 and will study one of the planet's moons. CBS News space consultant Bill Harwood explains what scientists are hoping to accomplish with the mission.
NASA successfully launched the Europa Clipper spacecraft Monday toward Jupiter where it will monitor a moon for potential habitable qualities. CBS News space consultant Bill Harwood has more on the spacecraft expected to near Jupiter's moon Europa around April 2030.
A multi-billion dollar space mission launching Monday may reveal more about an icy moon circling planet Jupiter. CBS News space consultant Bill Harwood has more.
SpaceX launched its most powerful rocket ever built and then flew its first stage booster back to the launch pad where giant metal arms called "chopsticks" grabbed it, just seven minutes after lifting off in Boca Chica, Texas. The uncrewed test flight is a new milestone in SpaceX's vision of developing a fully reusable rocket to return astronauts to the moon and beyond.
The ambitious mission won't actually look for life on Jupiter's moon Europa, but it should find out if the presumed ocean provides a habitable environment.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
As early voting opens in Detroit, Harris, Trump campaign in the battleground state of Michigan; How chef Andrew Black is building a food empire.
Aaron Frazer honed his musical interest from a young age, learning the drums at 9 years old. He went on to study music at Indiana University, but his big break came when he formed the now-acclaimed R&B group Durand Jones & the Indications. In 2021, he released his lauded solo debut, followed by a second collection this summer. Now, from his most recent album “Into The Blue,” here is Aaron Frazer with “Time Will Tell.”
Aaron Frazer honed his musical interest from a young age, learning the drums at 9 years old. He went on to study music at Indiana University, but his big break came when he formed the now-acclaimed R&B group Durand Jones & the Indications. In 2021, he released his lauded solo debut, followed by a second collection this summer. Now, from his most recent album “Into The Blue,” here is Aaron Frazer with “Easy To Love.”
Aaron Frazer honed his musical interest from a young age, learning the drums at 9 years old. He went on to study music at Indiana University, but his big break came when he formed the now-acclaimed R&B group Durand Jones & the Indications. In 2021, he released his lauded solo debut, followed by a second collection this summer. Now, from his most recent album “Into The Blue,” here is Aaron Frazer with “Fly Away.”
House plants have been welcomed into homes for centuries, but in recent years, a botanical renaissance has bloomed. The global indoor plants market was valued at just under $20 billion last year, and is projected to reach more than $28 billion by 2031. Dana Jacobson reports on what’s putting new life into the market.