Mortgage rates have confounded house hunters this year by steadily ticking higher. That trend is likely to continue, according to economists, with some predicting rates will climb back above 7%. “We’re effectively there,” Mark Zandi, chief economist at Moody’s Analytics, told CBS News. “And rates could easily go over.” The average rate for a 30-year…
Employers across the U.S. are likely to face sharply higher health insurance costs next year, which could drive up how much workers pay for medical coverage, according to a recent survey. Health benefits consulting firm Marsh projects that the total health benefit cost per employee, which measures both employer and employee premium contributions, will rise…
With just two months to go before the midterm elections, President Trump is sitting on a $400 million war chest, according to Federal Election Commission filings, and fellow Republicans are wondering how he’s going to start spending all that money. This week, Securing American Greatness, a nonprofit with ties to Mr. Trump’s super PAC, MAGA…
Traveling this Labor Day weekend? It will probably cost you more – CBS News Watch CBS News Airfare is up 20% from last year, and gas is almost $1 more per gallon than it was in 2025. Diesel fuel costs just hit an all-time high. Kris Van Cleave takes a look at rising travel costs…
America’s ranks of retirement fund millionaires are surging, with the number of 401(k) accounts managed by Fidelity Investments holding at least $1 million surging to a record 769,000 in the second quarter. The number of 401(k) millionaires jumped 19% between the first and second quarters, lifted by a bullish stock market and by record average…
With the burgeoning El Niño now forecast to intensify significantly in the coming months, the “supersized” climate event will likely have an outsized impact on severe weather around the world, fueling heat, drought and flooding, among other extremes, the United Nations warned Thursday. “El Niño is being supersized before our eyes,” U.N. Secretary-General António Guterres said…
At least 20 generals, admirals and civilian defense leaders have been fired or have departed their jobs since Pete Hegseth became defense secretary at the beginning of the second Trump administration. Some of the military’s most decorated leaders have either been fired by Hegseth and President Trump or have retired with little explanation, including the…
Treasury yields edged higher on Tuesday, extending a global bond sell-off and threatening to raise borrowing costs for millions of Americans. The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.78%, up from 4.75% late Monday and the highest level since January 2025. The yield on the 2-year Treasury, which closely tracks…
A search and rescue operation is expected to continue Tuesday to find the last person missing in flash flooding that hit parts of the Grand Canyon over the weekend — as questions arise about whether people could have been warned sooner. At least two people died in the major flash floods. One was identified by…
Revenue from IRS audits plunged 35% in fiscal 2025 as the agency shed thousands of enforcement workers, according to a new report from the Treasury Inspector General for Tax Administration, an agency watchdog. The IRS collected a total of $6.5 billion from audits in fiscal 2025, which ended Sept. 30, down from $10 billion a year earlier,…
