The average interest rate for a 30-year fixed mortgage in the U.S. has increased for the fourth week in a row, reaching its highest point in a year. This rise makes borrowing more expensive and slows down home buying.
Key Facts
The average 30-year fixed mortgage rate rose from 6.58% last week to 6.66%.
This is the highest mortgage rate level seen in a year.
One year ago, the rate was slightly higher at 6.72%.
Higher mortgage rates mean borrowers pay more each month on their home loans.
Increased costs reduce how much buyers can afford when shopping for homes.
Rising rates have contributed to slower home sales in the U.S. this year.
Freddie Mac, a company that tracks mortgage rates, provided this data.
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The Federal Reserve recently paused interest rate changes, which is a good time for Americans to review how they save money. Keeping savings in traditional accounts with low interest means losing money to inflation, so savers are advised to switch to higher-yield accounts, certificates of deposit (CDs), or money market accounts to earn more.
Key Facts
The Federal Reserve paused interest rate changes but may raise rates again in September.
Traditional savings accounts have very low interest rates around 0.38%, which do not keep up with inflation.
Certificates of deposit (CDs) now offer about 4% interest, higher than the current inflation rate of 3.5%.
CDs require locking money for a set time but provide fixed rates, giving predictable earnings.
High-yield savings and money market accounts offer rates near or above 4% and allow easy access to funds.
Money market accounts often include check-writing features for convenience.
Savers are encouraged to close traditional savings accounts and move money to better options to avoid losing value.
Taking these steps can help savers earn more interest despite economic challenges like inflation and debt.
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The U.S. Department of Commerce announced it will provide over $870 million in federal incentives to support semiconductor manufacturing. In return, the government will take small ownership stakes in seven private companies.
Key Facts
The Department of Commerce is investing more than $870 million in semiconductor makers.
These investments come as part of federal incentives to boost chip manufacturing in the U.S.
The government will receive minority equity stakes, meaning partial ownership, in seven companies.
The announcements were made quietly this week, without wide public attention.
The National Institute of Standards and Technology (NIST) shared details on its blog.
The CHIPS Research and Development Office within Commerce signed letters of intent for these investments.
The move aims to strengthen U.S. semiconductor production and technology.
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Lettuce prices went up earlier this year because of hot weather in Arizona, a major lettuce-growing area. Now, many people have gotten sick from a parasite linked to shredded lettuce, causing some restaurants like Taco Bell to lose customers and make less money.
Key Facts
Arizona grows about one-third of the lettuce in the United States.
Hot weather in Arizona caused lettuce prices to rise sharply in early 2026.
A parasite called cyclospora, found in shredded lettuce, has made thousands of Americans sick.
The cyclospora outbreak has affected restaurant sales, especially those serving lettuce.
Yum Brands owns Taco Bell, which is seeing fewer customers due to worries about the outbreak.
Taco Bell’s sales in the U.S. dropped by 2% from July to September 2026.
This decline contrasts with a 7% sales increase in the previous quarter (April to June 2026).
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The U.S. Department of Education is offering a bigger interest rate discount on federal student loans for borrowers who sign up for automatic monthly payments by September 30. This discount lowers the loan interest rate by 1% instead of the usual 0.25% and lasts until June 30, 2028, helping borrowers reduce their payments.
Key Facts
Borrowers with federal student loans issued after July 1, 2012, can get a 1% interest rate discount by enrolling in automatic payments before September 30.
Automatic payments take money directly from a bank account every month at no extra cost.
Currently, about 40% of borrowers use automatic payments; the government wants to increase this to 80%.
The discount reduces interest rates, for example, from 6.39% to 5.39% until mid-2028.
To enroll, borrowers must log into their loan servicer website, provide bank details, and set up automatic payments.
Risks include overdraft fees if there is not enough money in the bank account when payments are taken.
The savings from the discount may be small for loans around $5,000 but bigger for average loan amounts near $40,000.
About 9.5 million federal student loan borrowers are in default, meaning they are behind on payments by nine months or more.
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More than 437 million people worldwide had vision problems in 2019, and this number has nearly doubled since 1990. Poor vision causes an estimated $411 billion loss in global work productivity every year, but simple solutions like glasses and cataract surgery can help. Experts say eye care should be treated as a key part of economic development, not just as charity.
Key Facts
In 2019, over 437 million people had visual impairments worldwide.
The number of people with vision problems has almost doubled since 1990.
Poor vision leads to a $411 billion loss in global productivity yearly.
At least 1 billion people have vision issues that could be prevented or treated.
Simple treatments like glasses and cataract surgery are affordable and effective.
Investing $1 in eye health can generate about $36 in social and economic benefits.
Countries with good eye care systems see increased worker productivity and better education outcomes.
Experts say eye care should be part of national infrastructure and development plans, like roads and electricity.
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A 6-month certificate of deposit (CD) for $50,000 lets savers earn about $1,000 in interest at current rates around 4%. These CDs offer fixed interest, meaning the return is guaranteed for six months, and they provide a way to benefit from high interest rates while keeping money safe for a short period.
Key Facts
The Federal Reserve recently paused interest rate changes, keeping borrowing costs high.
A $50,000 6-month CD can earn between $990 and $1,027 in interest depending on the rate (around 4.00% to 4.15%).
CD interest rates vary by bank, with online banks often offering higher rates than local branches.
CDs have fixed rates, so the return does not change during the 6-month term.
After 6 months, savers can access their principal and interest without risk to their earnings (if they don’t withdraw early).
Early withdrawal penalties can cancel out interest earned, so it’s important to keep money in the CD until it matures.
Using online marketplaces can help find the best CD rates currently available.
CDs are a good option for savers who want to benefit from high rates but may want to change plans relatively soon.
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Homeowners insurance may cover HVAC system replacement only if damage is caused by specific covered events like fire, lightning, or storms. Insurance usually does not cover replacement due to normal wear and tear, mechanical failure, or lack of maintenance.
Key Facts
HVAC replacement can be expensive, often costing thousands of dollars including installation.
Homeowners insurance protects against sudden and accidental damage, not gradual wear and tear.
Damage caused by covered perils such as fire, lightning, windstorms, hail, or falling objects may be covered.
Insurance might cover repairs or replacement if a covered water event like a burst pipe damages the HVAC system.
Insurance generally excludes coverage for failure due to age, normal use, mechanical breakdown, rust, or poor maintenance.
Mechanical failures from overuse during hot weather usually are not covered.
Homeowners should check their policy details to understand coverage limits and exclusions.
Maintenance neglect could cause insurance claims to be denied.
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A new study estimates that depression could cost the United States over $4 trillion between 2025 and 2050. Globally, depression is expected to impose a $12 trillion economic burden, mainly due to reduced work participation and productivity.
Key Facts
The study covers 154 countries and estimates economic losses from depression between 2025 and 2050.
The U.S. faces the largest national cost at about $4.087 trillion.
China and the United Kingdom are second and third, with $2.072 trillion and $475 billion respectively.
North America has the highest economic impact relative to regional GDP at 0.599%.
The biggest economic losses come from fewer people working and lower productivity, not just treatment costs.
Depression rates in the U.S. remain historically high, with over 18% of adults affected in 2024 and 2025.
Depression rates have increased most sharply among younger adults (under 30) and low-income households.
Depression in workers causes an estimated $23 billion in lost productivity annually due to unplanned absences.
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The average 30-year fixed mortgage rate in the U.S. rose to 6.66%, the highest in a year, making home loans more expensive for buyers. This increase in rates is linked to economic factors like inflation, oil prices, and investor expectations, and it has contributed to slow home sales in 2025.
Key Facts
The average 30-year fixed mortgage rate rose from 6.58% last week to 6.66%.
One year ago, the average rate was slightly higher at 6.72%.
The average 15-year fixed mortgage rate increased from 5.96% to 6.04%.
Mortgage rates generally follow the 10-year Treasury yield, which rose from about 3.97% in February to 4.66% in June.
Rising oil prices due to the conflict in Iran have pushed inflation expectations higher, contributing to higher mortgage rates.
The Federal Reserve kept its short-term interest rate unchanged recently but does not directly set mortgage rates.
Higher mortgage rates add more monthly costs for borrowers, reducing their ability to buy homes.
U.S. home sales remain sluggish, with annual sales near 4 million, below the usual 5.2 million and a continuation of a market slump since 2022.
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Situational Awareness, a hedge fund focused on artificial intelligence investments, sold all its stocks to Citadel, a large financial firm. The fund faced heavy losses due to a recent drop in AI-related stocks and has tried to get more investments from new backers.
Key Facts
Situational Awareness is an AI-focused hedge fund started by Leopold Aschenbrenner, a former OpenAI researcher.
The hedge fund sold its entire public stock portfolio to Ken Griffin’s Citadel.
The sale happened during a market decline affecting AI companies, especially chipmakers.
The fund once managed about $20 billion in assets.
Early investors included Stripe founders Patrick and John Collison and former tech leaders Nat Friedman and Daniel Gross.
The fund tried to raise new money after losing a lot during the AI stock downturn.
Leopold Aschenbrenner was fired from OpenAI in 2024 amid claims of an information leak, which he denies.
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The IRS is starting a new system to report cryptocurrency transactions using Form 1099-DA, but it often collects incomplete information. This could cause ordinary Americans to receive tax bills they do not actually owe because the IRS cannot always see the full history of their digital asset activity.
Key Facts
The IRS requires crypto exchanges to report transactions through Form 1099-DA, starting with gross sales amounts.
Full cost-basis reporting (showing purchase price and value) will be required starting in 2026.
The IRS expects about 8 billion 1099-DA forms to be filed every year by 2027.
Digital crypto assets can be moved between wallets and exchanges, which may erase important transaction details.
Without complete records, the IRS may think taxpayers have gains when they actually have losses.
Tax software depends on accurate data but cannot fill in missing transaction details.
Many investors try to follow tax rules but face challenges because their records are incomplete.
Unlike stock brokerage systems, crypto platforms are not yet equipped to share detailed, linked cost information automatically.
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The CBS News program "Sunday Morning" aired a special report called "The Money Issue," exploring how money affects daily life. Segments included challenges in the housing market, a feature on art made from money, the rise of Chinese electric car company BYD, new twists on the game Bingo, fights against insurance claim denials, and innovations in roller coaster design.
Key Facts
Young people increasingly see themselves as renters because they cannot afford homes due to supply limits and rising costs.
Artist Stacey Lee Webber creates sculptures and jewelry entirely from coins and bills.
Chinese company BYD became the world's top seller of fully electric vehicles last year, surpassing Tesla.
Bingo remains popular because it allows many players at once and raises money for charities.
Many Americans face delays and denials in health insurance claims, and companies like Sheer Health help fight these denials.
New roller coasters, including the Tormenta Rampaging Run at Six Flags Over Texas, are setting records for height and speed using advanced designs.
The program aired on CBS and streamed on the CBS News app.
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Foreign buyers purchased fewer homes in the U.S. between April 2025 and March 2026, dropping by 14 percent to one of the lowest levels since 2009. However, this decrease does not significantly help American buyers because many Americans are still struggling to afford homes due to high prices and mortgage rates.
Key Facts
Foreign buyers bought 67,100 U.S. homes from April 2025 to March 2026, which is 1.7% of all home sales and 14% less than the previous year.
These buyers spent $45.3 billion on homes, making up 2.0% of all U.S. home sales value, down 19% from the year before.
Homes bought by foreigners were more expensive on average ($465,000) than those bought by Americans ($413,600).
Nearly half (48%) of foreign home purchases were paid entirely in cash, compared to 28% overall.
Most foreign buyers came from Canada (16%), Mexico (14%), China (11%), India (9%), and the United Kingdom (4%).
Popular states for foreign buyers were Florida (20% of purchases), California (19%), Texas (12%), New Jersey (4%), and Georgia (4%).
The decline in foreign buyers reflects lower numbers of international visitors and geopolitical uncertainties, despite a slightly weaker U.S. dollar.
Experts say foreign buyers make up a small part of the housing market, so their drop in buying does not greatly affect American housing affordability, which depends more on factors like home supply and mortgage rates.
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Medical bills often arrive unexpectedly after care, making it hard to pay them all at once. Patients can negotiate their medical debt with providers before it goes to collections by asking for an itemized bill, seeking financial help, requesting discounts, or setting up payment plans.
Key Facts
Medical debt usually appears after unexpected illness or treatment, not as a planned loan.
Bills may be high due to deductibles, coinsurance, or out-of-network charges, even with good insurance.
Providers often prefer negotiating with patients to avoid sending bills to collection agencies.
Patients should ask for an itemized bill to check for errors or duplicate charges.
Many hospitals have financial assistance programs based on income and family size.
Patients can try to negotiate discounted payment amounts or prompt-pay discounts.
Setting up an interest-free payment plan can help manage bills without extra charges.
Any new agreement should be confirmed in writing before paying.
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A recall has been issued for lithium-ion hand warmers after one person died and more than 300 people suffered burn injuries. The recall comes following reports of fires linked to these products.
Key Facts
An 83-year-old person died due to issues related to lithium-ion hand warmers.
Over 300 consumers reported burn injuries from these hand warmers.
Several incidents of fires were connected to the use of these products.
The problems led to an official recall of the lithium-ion hand warmers.
Lithium-ion refers to a type of rechargeable battery used in these hand warmers.
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When debt collectors buy your unpaid debt, they cannot add new fees that were not in your original loan or credit agreement. They can only collect what the original contract and state laws allow, such as existing interest or certain legal charges. If your debt balance grows after being sold, you have the right to ask for a detailed breakdown to check if the added amounts are correct.
Key Facts
Debt collectors often buy unpaid debts from the original lenders for less than the full amount owed.
When debt is sold, the new owner can collect under the original terms but cannot create new fees.
Federal law stops collectors from charging extra fees unless your original contract or state law allows them.
Some contracts let interest or collection costs keep growing even after you stop paying.
State laws vary on what extra costs can be added after a debt is sold.
Debt collectors may not charge fees just because you pay online or by phone unless allowed by the contract or law.
You can request a detailed statement showing the original debt, interest, fees, and legal reasons for changes.
Even if your debt has increased, it might be possible to settle for less than the full amount owed.
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The article discusses how college sorority recruitment, known as 'rush,' has become a big business. Some students take advantage of social media to share their rush experiences and make money.
Key Facts
'Bama rush' refers to the sorority recruitment process at the University of Alabama.
Sorority recruitment is a significant event on many college campuses.
Some future sorority members are earning money by posting about rush on social media.
These posts attract attention and can turn into a business opportunity.
The article explores the financial side of this collegiate tradition.
Social media plays a key role in changing how students experience and promote rush.
This trend shows how college social events are becoming more commercialized.
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CBS Mornings Deals offers special discounts on products that can help improve daily life. Customers can find these deals on the website cbsdeals.com, where CBS earns a commission from sales made through the site.
Key Facts
CBS Mornings Deals features products with exclusive discounts.
The deals aim to improve everyday lifestyle.
Customers can visit cbsdeals.com to access the offers.
CBS earns commissions on purchases made through the website.
The promotion is part of the CBS News programming.
The deals cover various items relevant to daily use.
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