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.
Mortgage Rates
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 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.
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.
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.
Federal Reserve cuts interest rates by 0.25 percentage points
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points. Here's what to know.
House Ethics Committee quietly voted to release Matt Gaetz ethics report
The House Ethics Committee voted to release its report on the investigation into former Rep. Matt Gaetz on Dec. 5, according to multiple sources.
House conservatives revolt over GOP-backed spending bill
House Speaker Mike Johnson is facing a conservative revolt over a last-minute measure to keep the government funded and avoid a shutdown.
Supreme Court agrees to hear challenge to TikTok ban
The Supreme Court on Wednesday said it will take up a challenge to a new law that could lead to a ban on TikTok in the U.S.
Paris Hilton's bill to protect minors at residential treatment facilities heads to president's desk
The 43-year-old heiress and actor has testified about her own experience as a teenager at treatment facilities.
What's in the continuing resolution to avert a government shutdown?
The 1,500 page measure would do much more than prevent a government shutdown.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
CDC confirms first severe bird flu case in the U.S.
A person in Louisiana has the first severe illness caused by bird flu in the U.S., the Centers for Disease Control and Prevention announced Wednesday.
Senate passes $895 billion defense bill with gender-affirming care restriction
The Senate approved the mammoth National Defense Authorization Act despite concern from some Democrats over a controversial gender-affirming care policy.
U.S.
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Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
U.S. Mint announces 5 historical women on new quarters for 2025. Here's who.
It's the last year the American Women Quarters Program will put historical female figures on reverse side of coins.
U.S. mulls ban on Chinese-made TP-Link routers over national security concerns
TP-Link routers could be banned in the U.S. over national security concerns, according to a report.
"Murder hornets" eradicated in the U.S., agriculture officials say
Giant hornets, dubbed "murder hornets," have been eradicated in the U.S., five years after the invasive species was first detected in Washington state.
CEO murder suspect Luigi Mangione expected to waive extradition
An attorney for Luigi Mangione, the suspect in the killing of UnitedHealthcare CEO Brian Thompson, says he will waive extradition at his hearing on Thursday.
MoneyWatch
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U.S. Mint announces 5 historical women on new quarters for 2025. Here's who.
It's the last year the American Women Quarters Program will put historical female figures on reverse side of coins.
U.S. mulls ban on Chinese-made TP-Link routers over national security concerns
TP-Link routers could be banned in the U.S. over national security concerns, according to a report.
Senate set to vote on bill that would expand Social Security to millions
Senators advance bill that would expand Social Security benefits to millions of Americans, including teachers, firefighters and others with public pensions.
Fed lowers rates by 0.25 percentage point, but expects fewer cuts
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
FAA: Lithium battery fires on flights now occur nearly twice a week
FAA data shows that lithium battery fires on U.S. flights have risen 388% since 2015, now occurring nearly twice a week.
Politics
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Senate set to vote on bill that would expand Social Security to millions
Senators advance bill that would expand Social Security benefits to millions of Americans, including teachers, firefighters and others with public pensions.
House conservatives revolt over GOP-backed spending bill
House Speaker Mike Johnson is facing a revolt from fellow Republicans over a last-minute measure to keep the government funded and avoid a shutdown.
Paris Hilton's bill to protect minors at residential treatment facilities heads to president's desk
The 43-year-old heiress and actor has testified about her own experience as a teenager at treatment facilities.
U.S. begins to retaliate against China over hack of telecom networks
The Commerce Department's action is a direct response to China's infiltration of telecom networks earlier this year.
Migrants with temporary legal status ask Biden for help before Trump takes office
Migrants in the U.S. under what's known as Temporary Protection Status are worried that Trump will revoke the program upon taking office.
HealthWatch
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What are seed oils and do they pose health risks? Here's what to know
Seed oils are making headlines, prompting fears around whether they can have negative effects on your health. Here's what to know.
CDC confirms first severe bird flu case in the U.S.
A person in Louisiana has the first severe illness caused by bird flu in the U.S., the Centers for Disease Control and Prevention announced Wednesday.
Congo says mysterious disease killing dozens of kids finally identified
"The mystery has finally been solved," Congo's health ministry says, after an unidentified disease outbreak started killing mainly women and children in a remote region.
2 sisters, 7 years apart in age, also receive heart transplants 7 years apart
The sisters share a special bond of getting a second chance at life, which they both received at the age of 38 years old.
Trump could target Affordable Care Act, Medicaid for cuts, experts say
Republicans wants to extend 2017 tax cuts that expire next year and could let ACA subsidies lapse to help pay the tab, according to analysts.
World
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Prominent pro-Putin ballet star Sergei Polunin says he's leaving Russia
Ukrainian-born ballet phenom Sergei Polunin was rewarded for backing Putin's attacks on his native country, but he appears to have fallen from Moscow's graces.
China continuing nuclear buildup, strengthening ties to Russia, Pentagon says
A new Pentagon report says China is continuing to expand its nuclear force and has strengthened its ties with Russia over the past year.
Ancient inscription may rewrite Christianity's history, researchers say
The "Frankfurt Silver Inscription" shows the earliest evidence of Christianity north of the Alps.
U.K. court clears seizure of millions in unpaid taxes from Andrew Tate
A British court has cleared police to seize $3.3 million from misogynist social media influencer Andrew Tate and his brother to cover unpaid taxes.
Explosion kills 2 soldiers in suspected booby trap by drug cartel
Before the blast, the soldiers had discovered the dismembered bodies of three people, officials said.
Entertainment
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The Grateful Dead, Kennedy Center honorees, reflect on the band's legacy
Surviving members of the Grateful Dead, Bobby Weir, Bill Kreutzmann, and Mickey Hart, revisit the Great American Music Hall in San Francisco.
Ben Schwartz, James Marsden on new "Sonic"
Ben Schwartz and James Marsden join "CBS Mornings" to discuss their roles in the highly anticipated sequel "Sonic the Hedgehog 3," distributed by Paramount Pictures.
Kennedy Center honors Grateful Dead
Dave Matthews, Leon Bridges and Derek Trucks led a star-studded tribute to the Grateful Dead at this year's Kennedy Center Honors. Anthony Mason spoke with the band's three surviving core members about their journey to becoming one of the most influential bands in American history.
Megan Thee Stallion asks for restraining order against Tory Lanez
Tory Lanaz, who is serving a 10-year prison sentence for shooting Megan Thee Stallion in the feet, is harassing her from prison through surrogates, the petition alleges.
How Nikki Glaser is preparing for Golden Globes hosting gig
Comedian Nikki Glaser, known for her honest style, is gearing up to host the 82nd Annual Golden Globes.
Technology
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FAA: Lithium battery fires on flights now occur nearly twice a week
FAA data shows that lithium battery fires on U.S. flights have risen 388% since 2015, now occurring nearly twice a week.
What's next for AI in 2025?
After a landmark year for AI advancements like chatbots and image generation, questions loom about the future. Generative AI expert Sam Gregory shares what's ahead.
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.
Lithium battery fires on U.S. flights rise
FAA data shows lithium battery fires are up 388% on U.S. flights since 2015, happening nearly twice per week on average. The lithium batteries inside your tablet, laptop and phones can be flammable when they're damaged or they overheat. Passengers should never put a lithium battery in a checked bag, but it's also advised to keep an eye on your devices during your flight.
Free ChatGPT search engine tool from OpenAI
OpenAI is rolling out its ChatGPT search engine for free to everyone with an OpenAI account after first making the service available for paying subscribers back in October. Will Knight, senior writer with Wired, joined CBS News to discuss the tool.
Science
More Science
"Murder hornets" eradicated in the U.S., agriculture officials say
Giant hornets, dubbed "murder hornets," have been eradicated in the U.S., five years after the invasive species was first detected in Washington state.
Coal use hitting record in 2024, which is likely hottest year yet, report says
World coal use is set to reach an all-time high in 2024, the International Energy Agency says, in a year all but certain to be the hottest in recorded history.
How climate change impacted 2024
From record-breaking temperatures to devastating disasters, 2024 brought the world closer to the reality of what climate change looks and feels like. CBS News national environmental correspondent David Schechter reports.
Bronze-Age Britons were cannibalized after massacre, research shows
Researchers determined that dozens of men, women and children were violently killed and cannibalized in Bronze Age-era England.
ClimateWatch: Looking back on 2024’s extreme weather
In this episode of “ClimateWatch,” CBS national environmental correspondent David Schechter looks back at the devastating hurricanes, landslides, flooding and more that impacted the U.S. this year.
Crime
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Crime
School shooting suspect's family life
Investigators are learning more about the suspect in the Abundant Life Christian School shooting that occurred in Madison, Wisconsin. CBS News' Anna Schecter has more.
CEO murder suspect Luigi Mangione expected to waive extradition
An attorney for Luigi Mangione, the suspect in the killing of UnitedHealthcare CEO Brian Thompson, says he will waive extradition at his hearing on Thursday.
Seeking a motive in school shooting case
Officials are probing social media and other clues that the suspect in the Madison, Wisconsin, school shooting may have left behind. Investigators are trying to piece together a possible motive for the deadly shooting at Abundant Life Christian School. CBS News Confirmed's Rhona Tarrant has more.
ATF director on disrupting violent crime
Steven M. Dettelbach, the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), joined CBS News with more on the agency's mission to disrupt violent crime. This comes after another deadly school shooting occurred in Madison, Wisconsin.
Madison shooting suspect's family life
Records are providing more details about the Madison, Wisconsin, school shooting suspect and her family life. CBS News' Anna Schecter breaks down what's known as officials investigate the 15-year-old's motive.
Space
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Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
Starliner astronauts' return delayed again
Two astronauts who have been stuck aboard the International Space Station for months will have to wait even longer to come home. Their planned returned was delayed once again on Tuesday, pushing their earliest return trip back to late March. Manuel Bojorquez has more.
Boeing Starliner crew's return to Earth delayed yet again
NASA astronauts Butch Wilmore and Suni Williams have been stuck in space for months longer than expected, and will not return to Earth until at least March 2025 at the earliest, NASA indicated.
Latest Galleries
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
Serial killer Rodney Alcala's secret photos
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
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Latest CBS News Videos
Possible Israel, Hamas ceasefire deal
U.S. officials appear cautiously optimistic about a potential ceasefire deal and hostage swap between Israel and Hamas. CBS News' Chris Livesay breaks down what's known about the renewed hopes.
How a woman found out about her abuse
A French woman learned that her husband and more than 50 men had been raping her for years while she was drugged. A verdict will soon be reached in her case. Catherine Porter, an international correspondent for The New York Times, joins CBS News with more.
School shooting suspect's family life
Investigators are learning more about the suspect in the Abundant Life Christian School shooting that occurred in Madison, Wisconsin. CBS News' Anna Schecter has more.
RFK Jr., Gabbard back on Capitol Hill
Robert F. Kennedy Jr. and Tulsi Gabbard are back on Capitol Hill to lobby for support in their confirmation process to fill top posts in President-elect Donald Trump's second term. CBS News' Allison Novelo reports.
More on vote to release Gaetz report
Two Republicans voted to release the House Ethics Committee report on the investigation into former Rep. Matt Gaetz, sources familiar with the decision tell CBS News. Taurean Small reports.