Mortgage rates fall to lowest since April 2023. Here's where they're headed.
The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.
Mortgage Rates
Here are the top zip codes for home sales, according to Realtor.com
Metros in the Midwest and Northeast stole the top slots on this year's list.
Powell signals interest rate cuts coming
Federal Reserve Chair Jerome Powell signaled Friday that the economy is ready for interest rate cuts, a move economists have been expecting will take place in September. CBS News contributor Javier E. David has more.
Mortgage rates starting to come down
Mortgage rates are finally starting to come down, which is giving some homeowners a bit of relief. But many looking to buy could still face unaffordable prices and a tight market. Elise Preston has more.
Mortgage rates tumble to lowest since April 2023 after weak jobs report
Homebuyers are getting some relief from high borrowing costs as mortgage rates sink on expectations the Federal Reserve will cut rates.
Zombie mortgages come back to haunt homeowners
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
How zombie mortgages haunt homeowners
Zombie debt refers to long-forgotten or old debts that resurface, often with accumulated interest and fees, threatening the financial stability of unsuspecting homeowners and sometimes leading to foreclosures. CBS News national consumer correspondent Ash-har Quraishi reports.
California mom had no idea she owed thousands
Teresa modified her home mortgage back in 2009 during the financial crisis, and thought she was making payments on her second mortgage every month. She's discovered she's overdue on thousands of payments for this "zombie debt," and fears losing her home.
Man says zombie mortgage led to foreclosure
Jose Arzate of Santa Maria, California, says he was taken by surprise when sheriff's deputies evicted him. He says he never knew he owed tens of thousands of dollars in "zombie mortgage" debt.
Veteran could lose home due to zombie mortgage
Laverne Simmons of Inglewood, California, says she never got bills for a decade-old debt. Now this "zombie mortgage" could cost her the home she loves.
18 million Americans are house poor, new study shows
Millions of U.S. homeowners are spending more than 30% of their monthly income on housing. Here are the hardest hit states.
The state of inflation in the U.S.
There are some indications that prices are falling in some parts of the U.S. economy. This comes after the Federal Reserve's announcement to hold interest rates steady for now. CBS News contributor Javier E. David looks at some key economic indicators as inflation slows slightly.
Federal Reserve holds interest rates steady
The Federal Reserve is leaving interest rates unchanged for now as it awaits a more sustained period of declining inflation in the U.S. economy. CBS News contributors J.D. Durkin and Javier E. David break down the decision.
Mortgage closing fees are in the hot seat. Here's why feds are looking into them.
As home prices nationwide continue to climb, the federal government is looking into a recent spike in upfront costs associated with buying a house.
Home prices reach $387,600 record high, putting a damper on spring
Continued demand and lack of inventory are driving up the prices of homes at a time when mortgage rates are also climbing.
Will mortgage rates fall in 2024? Here's what Freddie Mac predicts.
Demand for buying a home will remain strong in 2024 even though mortgage rates have been around 7% this year.
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.
Tips for buying a home
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 sticking around. Here's what that means for your money.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
Jobs grow in February, unemployment rises
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.
Here's what's making it so hard to buy a home in the U.S. these days
Aspiring homebuyers face one of the toughest markets in years, with one analyst pointing to a "toxic brews" chilling sales.
Home prices, mortgage rates remain high
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.
Here's when experts think the Fed could start cutting interest rates
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 expected to fall slightly
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.
High rents leave many financially stretched
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.
Israeli officials furious that Signal group chat exposed intelligence, sources say
Sources tell CBS News the Signal chat involving senior Trump administration officials included sensitive intelligence Israel provided to the U.S.
UAW's Shawn Fain slams Trump executive order targeting federal unions
UAW president Shawn Fain said Trump's order to end collective bargaining for swath of federal workers would cost 700,000 people their union contracts.
FDA's top vaccine official forced out, decries RFK Jr.'s "misinformation and lies"
A Department of Health and Human Services official delivered an ultimatum to Dr. Peter Marks: either resign or be fired.
Columbia University interim President Katrina Armstrong steps down
Katrina Armstrong, Columbia University's interim president, is being replaced by Claire Shipman. The university did not offer an explanation for the change in leadership.
JD Vance blasts Denmark in visit to Greenland with wife Usha
A recent poll shows 85% of Greenlanders do not want to be part of the United States.
More than 150 killed as powerful earthquakes hit Myanmar and Thailand
Powerful earthquakes hit Myanmar and Thailand, killing dozens and trapping workers under the rubble of a toppled Bangkok skyscraper that was under construction.
Law firm Skadden cuts $100 million pro bono deal with Trump to avoid executive order
President Trump has issued executive orders targeting law firms that have employed his purported political opponents.
RFK Jr. to gut vaccine promotion and HIV prevention office, sources say
Much of the federal government's efforts to buoy lagging childhood vaccination rates have been run through the Office of Infectious Disease and HIV/AIDS Policy.
3 dead, more than 200 rescued in South Texas after flooding
At least three people have died due to severe storms in South Texas this week as rescues were still ongoing Friday.
U.S.
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Close call between Delta flight, Air Force jet near Reagan National
The incident occurred just after the Delta Air Lines flight had taken off from Reagan National Airport.
Trump's changes to the Social Security Administration has many seniors alarmed
The average wait time for Social Security calls has doubled in the last six months to 104 minutes.
Trump commutes sentence of Ozy Media founder Carlos Watson convicted of fraud
Prosecutors said Carlos Watson deceived investors and lenders by inflating revenue numbers and suggesting deals were final when they were not. He had been sentenced to 10 years in prison.
Elon Musk's xAI to acquire his X social media platform
The companies are being combined in an all-stock deal that values xAI at $80 billion and X at $33 billion, factoring in the social network's $12 billion debt.
3 dead, more than 200 rescued in South Texas after flooding
At least three people have died due to severe storms in South Texas this week as rescues were still ongoing Friday.
MoneyWatch
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Trump's changes to the Social Security Administration has many seniors alarmed
The average wait time for Social Security calls has doubled in the last six months to 104 minutes.
Elon Musk's xAI to acquire his X social media platform
The companies are being combined in an all-stock deal that values xAI at $80 billion and X at $33 billion, factoring in the social network's $12 billion debt.
UAW's Shawn Fain slams Trump executive order targeting federal unions
UAW president Shawn Fain said Trump's order to end collective bargaining for swath of federal workers would cost 700,000 people their union contracts.
Federal judge blocks mass firings of CFPB workers
A federal judge has blocked the mass firings of employees at the Consumer Financial Protection Bureau.
Flight bookings between Canada and the U.S. plunge amid trade war
Airlines are seeing lower demand from Canadians looking to travel to the U.S. amid a brewing U.S.-Canada trade war.
Politics
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FDA's top vaccine official forced out, decries RFK Jr.'s "misinformation and lies"
A Department of Health and Human Services official delivered an ultimatum to Dr. Peter Marks: either resign or be fired.
Trump's changes to the Social Security Administration has many seniors alarmed
The average wait time for Social Security calls has doubled in the last six months to 104 minutes.
Trump commutes sentence of Ozy Media founder Carlos Watson convicted of fraud
Prosecutors said Carlos Watson deceived investors and lenders by inflating revenue numbers and suggesting deals were final when they were not. He had been sentenced to 10 years in prison.
Elon Musk makes false claim about billion-dollar National Park survey
In a Fox News interview, Musk claimed DOGE found billions in waste — including a nearly billion-dollar National Park Service survey. No evidence supports that.
UAW's Shawn Fain slams Trump executive order targeting federal unions
UAW president Shawn Fain said Trump's order to end collective bargaining for swath of federal workers would cost 700,000 people their union contracts.
HealthWatch
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FDA's top vaccine official forced out, decries RFK Jr.'s "misinformation and lies"
A Department of Health and Human Services official delivered an ultimatum to Dr. Peter Marks: either resign or be fired.
RFK Jr. to gut vaccine promotion and HIV prevention office, sources say
Much of the federal government's efforts to buoy lagging childhood vaccination rates have been run through the Office of Infectious Disease and HIV/AIDS Policy.
Utah becomes first state to ban adding fluoride to public water systems
Utah Gov. Spencer J. Cox signed a bill banning fluoride from public water supplies. The ban will take effect in May.
Kansas reports measles outbreak with 23 cases
23 measles cases have been confirmed in Kansas, marking an outbreak for the state, according to local health officials. Ohio has reported 10 cases.
Trump administration to shrink federal health agencies by 20,000 employees
Health and Human Services Secretary Robert F. Kennedy will cut 3,500 jobs from the Food and Drug Administration and 2,400 from Centers for Disease Control and Prevention.
World
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Israeli officials furious that Signal group chat exposed intelligence, sources say
Sources tell CBS News the Signal chat involving senior Trump administration officials included sensitive intelligence Israel provided to the U.S.
U.S. goes on international egg hunt to ease prices at home
U.S. egg prices are just starting to fall, but big demand for Easter and Passover could cause prices to edge up again next month.
U.S. Army details challenges of recovering soldiers missing in Lithuania
A U.S. Army commander says recovering four soldiers from their submerged vehicle in swampland in Lithuania "will be a long and difficult" operation.
Israel bombs Beirut for first time since ceasefire with Hezbollah
France and Lebanon say Israel violated its ceasefire with Hezbollah with a strike in Beirut, as deaths mount in Gaza after Israel abandoned its ceasefire with Hamas.
Former Australian officer who killed 95-year-old with Taser avoids prison
A former Australian police officer avoided a prison term when sentenced for killing a 95-year-old nursing home resident with a Taser.
Entertainment
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Sex Pistols announce first North American tour in 22 years
The Sex Pistols, the legendary English punk band, last went on a North American tour in 2003.
Book excerpt: "I Am Maria" by Maria Shriver
In her new memoir, the daughter of Kennedys, broadcast journalist and former first lady of California uses poetry to explore a woman in search of herself.
Trump targets Smithsonian funding for programs with "improper ideology"
President Trump signed an executive order targeting funding for Smithsonian Institution programs that he says contain "divisive, race-centered ideology."
Sundance Film Festival moving to Boulder
The iconic Sundance Film Festival will be moving from Park City, Utah to Boulder, Colorado, starting in 2027, the festival and the Colorado Governor's Office announced on Thursday.
William Shatner offers Gayle King advice before women-led space flight
William Shatner, who became the oldest person to travel to space at age 90, is offering encouragement and practical advice to Gayle King and the all-female crew launching April 14.
Technology
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Technology
Growing demand to power AI, cryptocurrency
As cryptocurrency and artificial intelligence advancements are made, U.S. demand for the energy needed to power massive mining and data centers grows. David Turk, former deputy secretary of the U.S. Department of Energy, joins "The Daily Report" to discuss how much energy the U.S. needs and the potential environmental impacts.
Waltz's Venmo showed his contacts — even after bombshell report on Signal chat
White House chief of staff Susie Wiles was among the contacts listed in Waltz's Venmo account.
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.
Lawsuit against OpenAI over newspaper copyright can proceed, judge rules
Several newspapers have sued OpenAI and Microsoft, seeking to end the practice of using their stories to train artificial intelligence chatbots.
What is Signal, the app used by Trump's team
The Senate Intelligence Committee heard testimony on Tuesday from key players involved in a group chat on the messaging app Signal, in which the U.S.'s highly sensitive plans to bomb Houthi targets in Yemen were discussed inadvertently with a journalist. President Trump said that his administration would investigate the government's use of Signal. CBS News contributor and former CIA official Andrew Boyd has more on what it is and how it's used.
Science
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Is carbon capture a solution to the climate crisis?
Carbon capture chemically removes CO2 from the air, to store or recycle into products. But is this technology – underwritten by the fossil fuel industry – an effective means to address climate change?
Is carbon capture a solution to the climate crisis?
As a tool to address rising greenhouse gas emissions, carbon capture chemically removes carbon dioxide from the air, to store or recycle into products. The company behind a new plant to be opened this summer claims the facility will remove 500,000 tons of CO2 a year. But is this form of carbon capture – underwritten by the fossil fuel industry – an effective means to address climate change? Correspondent David Pogue looks at the technology behind this initiative, and the controversy it has raised.
Bones of mammoths butchered for their tusks unearthed by archaeologists
Remains of five mammoths were found archaeologists from the Austrian Academy of Sciences said Thursday in a news statement.
Venus will pass between the Earth and sun on Saturday
Our planet's closest and brightest neighbor will pass approximately between the Earth and sun this week, in what's called an inferior conjunction.
New evidence about dark energy may be "cusp of a major discovery"
The new findings come from the Dark Energy Spectroscopic Instrument (DESI), which sits on a telescope at the Kitt Peak National Observatory in Arizona.
Crime
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Crime
Utah law to protect child influencers
Utah is establishing legal protections for children who are social media influencers. This comes as cases of abuse emerge among parents with kids in the industry. Tiffany Li, a technology attorney, joins CBS News with more details.
Case of stepson allegedly held captive
A judge held a hearing in the case against a Connecticut woman accused of keeping her stepson captive for 20 years. This comes as the man's biological mother speaks out about the alleged abuse.
Second South Carolina inmate on death row chooses firing squad
Mikal Mahdi, who pleaded guilty to murder for killing a police officer in 2004, is scheduled to be executed April 11.
Lawyers say execution of morbidly obese inmate could be botched
Lawyers for convicted murderer Michael Tanzi say that his weight and health conditions could cause a lethal injection cocktail to fail.
Survivors give victims a voice at murder trial
"48 Hours" correspondent Jonathan Vigliotti speaks to one of seven Jane Does who testified at the trial of David Pearce, the Los Angeles man charged with murder in the overdose deaths of friends Christy Giles and Hilda Marcela Cabrales in 2021.
Space
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Mae Jemison on making history in space and inspiring change on Earth
Dr. Mae Jemison, the first woman of color in space, shares wisdom and encouragement with "CBS Mornings" co-host Gayle King ahead of King's upcoming Blue Origin launch.
When, where to see the March partial solar eclipse
Astronomy fans figuring out where and what time to see the March 29, 2025, partial solar eclipse can check out a map from NASA.
William Shatner offers Gayle King advice before women-led space flight
William Shatner, who became the oldest person to travel to space at age 90, is offering encouragement and practical advice to Gayle King and the all-female crew launching April 14.
Democrats warn of cuts to space office
Democratic members of the House Science, Space and Technology Committee are warning that Department of Government Efficiency cuts to the Office of Space Commerce at the National Oceanic and Atmospheric Administration could harm American interests. CBS News' Natalie Brand reports.
What to know as Gayle King gears up for April space flight
Gayle King will step out of her comfort zone and into a space suit alongside Katy Perry, Lauren Sánchez, Aisha Bowe, Amanda Nguyen and Kerianne Flynn.
Latest Galleries
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Husband pieces together wife's last movements to find out how she was killed
A look into a grieving husband Jan Cilliers' investigative work after his wife Christy Giles and her friend Hilda Marcela Cabrales died after a night out.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Latest CBS News Videos
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Latest CBS News Videos
Where the economy is headed amid tariff impact
Wall Street's decline fueled by inflation worries and the impact of tariffs likely won't be short-lived as wider reciprocal import taxes are set to go into effect next week. Consumer confidence along with spending aren't faring much better. Jo Ling Kent joins to discuss.
Heavy rain causes devastating flooding in Texas
At least three people are dead in South Texas following a severe storm that delivered more than a foot of rain. That's about half the precipitation the region typically sees in an entire year. Karen Hua reports.
Researchers investigating causes of Long COVID
The pandemic may be over, but millions are still dealing with COVID-19's effects. The CDC estimates nearly 20 million Americans are struggling with the effects of Long COVID -- the persistence of ongoing health problems long after the infection has passed. Bradley Blackburn has more.
How Trump administration is targeting visa holders
Around 300 people permitted to be in the United States on student visas have had them revoked so far, according to Secretary of State Marco Rubio. Lilia Luciano has details on who the Trump administration is targeting.
Breaking down Trump's legal battles with law firms
President Trump has issued executive orders targeting major law firms. Several of the firms have filed federal lawsuits over the orders on First Amendment grounds. Scott MacFarlane has more.