Where are interest rates on mortgages, CDs and credit cards heading in 2025?
CBSN
Americans started to see some financial relief in 2024 as cooling inflation led the Federal Reserve to cut interest rates three times after jacking up borrowing costs to their highest level in 23 years in a bid to hose down red-hot prices.
The Fed's policy shift raises questions about what 2025 might bring for borrowers, especially on the home-buying front, where mortgage rates have remained stubbornly high despite the rate cuts. On Jan. 2, the 30-year fixed rate mortgage inched up to 6.91%, its highest point in almost six months, Freddie Mac said on Monday.
Complicating the financial picture are President-elect Donald Trump's economic plans. Those could include sweeping new tariffs on foreign goods and more tax cuts, policies economists warn could reignite inflation. If that occurs, the Fed could be hard-pressed to continue its rate-cutting push.
At least eight people died after more than 55 vehicles were involved in a crash due to a dust storm in Kansas, authorities said Saturday.
President Trump on Saturday invoked the Alien Enemies Act of 1798 to order the swift detention and deportation of all Venezuelan migrants suspected of being members of the Tren de Aragua prison gang, treating them like wartime enemies of the U.S. government.
The U.S. launched strikes Saturday in Yemen as President Trump said the U.S. would use "overwhelming lethal force" until Houthis cease shipping attacks.
President Donald Trump's administration on Saturday began making deep cuts to Voice of America and other government-run, pro-democracy programming as the president continued his campaign to restructure government without congressional approval.
The audio of a 911 call made on the day four University of Idaho students were stabbed to death reveals confusion as the callers realized at least one of the students was not waking up.
The sibling ex-leaders of Mexico's violent Zetas cartel were arraigned on Friday in the United States on charges including drug trafficking, firearm possession and money laundering, the U.S. Department of Justice said.
The threat of tornadoes moved east into the Mississippi Valley and Deep South on Saturday, a day after a massive storm system moving across the country unleashed winds that damaged buildings, whipped up dust storms that caused deadly crashes and fanned more than 100 wildfires in several central states. Fatalities were reported in Missouri and Texas.
The head of the Islamic State in Iraq and Syria has been killed in Iraq in an operation by members of the Iraqi national intelligence service along with U.S.-led coalition forces, U.S. Central Command and the Iraqi prime minister announced Friday.
An appeals court on Friday lifted a block on executive orders seeking to end government support for diversity, equity and inclusion programs, handing the Trump administration a win after a string of setbacks defending President Trump's agenda from dozens of lawsuits.
LONDON — British police said Friday the Russian captain of a cargo ship that collided with a U.S. tanker has been charged over the death of a crew member, who is missing and presumed dead.
New video shows the arrest of Columbia University pro-Palestinian activist Mahmoud Khalil by Immigrations and Custom Enforcement agents.
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