Name: Mortgage rates are dropping, but can you actually afford a home?
Uploaded: 2026-03-03T21:42:43.608Z
Duration: 2 min 18 s
Description: Mortgage rates dropped to 5.98% in late February — the lowest since 2022 — boosting optimism for a busy spring housing market. However, affordability remains tough.

Mortgage rates dropped to 5.98% in late February — the lowest since 2022 — boosting optimism for a busy spring housing market. However, affordability remains tough.

U.S. homes are currently selling for a median price of about $420,000, and mortgage rates at or below 6% are expected to improve affordability for some buyers. However, a recent analysis by Moving Place found that only three out of 150 zip codes reviewed met the recommended mortgage-to-income ratio, highlighting ongoing affordability challenges.

Experts note that while falling rates and increased housing inventory may help ease the market, many renters and prospective buyers still face obstacles such as high debt-to-income ratios and additional homeownership costs. Forecasts for home prices remain mixed, with some analysts predicting stable prices and others noting modest year-over-year increases.

Mortgage rates are dropping, but can you actually afford a home?

NASA’s historic Artemis II mission to the moon launched Wednesday evening, taking four astronauts into Earth's orbit and on a path toward the world's first crewed lunar mission in a generation, beginning a journey into remarkable territory.

Florida

Artemis II launches as NASA shoots for the Moon in historic mission

President Trump addressed the nation about the Iran war Wednesday night, saying that the U.S. would complete its mission there "very shortly." He also sought to assure Americans that the conflict with Iran would be brief compared to other wars in U.S. history and insisted that gas prices would go down quickly.

Washington

Iran Strikes

Middle East Conflict

Trump says Iran war objectives 'nearing completion' in address to the nation

The first payment to Ukraine under the €90 billion loan could happen in a matter of days after Hungary lifts its veto. EU officials, however, concede the dispute will be solved only after the country goes to the polls on April 12.

Brussels

Ukraine Invasion

EU readies first payment to Ukraine as soon as Hungary lifts veto

U.S. President Donald Trump is again threatening to pull the United States out of NATO, calling European allies "cowards" for their refusal to support the joint U.S.-Israeli war against Iran.

Trump renews NATO attacks as Europe rejects role in Iran war

President Donald Trump became the first sitting U.S. president to attend a Supreme Court hearing after showing up on Wednesday (April 1) to listen to arguments on his birthright citizenship executive order.

Trump becomes first sitting president to attend Supreme Court hearing

American journalist Shelly Kittleson, who was kidnapped in Iraq, was concerned about her safety before she was taken, one of her editors tells CBS News' Chris Livesay.

Baghdad

American journalist Shelly Kittleson kidnapped in Iraq

The Artemis II mission to the moon is expected in a few hours if all goes according to plan. Linda Godwin, a retired astronaut and professor emeritus at the University of Missouri, joins CBS News with more.

Cape Canaveral

NASA's Artemis II mission set to launch

Golf legend Tiger Woods said on Instagram that he's "stepping away for a period of time to seek treatment" and focus on his health following his DUI arrest after a car crash in Florida last week. His announcement comes as court documents reveal new details about his arrest.

Jupiter

Tiger Woods seeks treatment after DUI arrest

U.S. President Donald Trump says operations in the Middle East will end in 2 to 3 weeks, but the administration wouldn't confirm if it's planning a ground invasion. Secretary of War Pete Hegseth said the U.S. prefers a peace deal, adding, 'In the meantime we'll negotiate with bombs.'

Hegseth says Iran deal preferable, U.S. will 'negotiate with bombs'

Trump targets birthright citizenship as the Supreme Court reopens the 14th Amendment battle, sparking protests and fears for U.S. identity.

Trump to challenge U.S. birthright citizenship in Supreme Court

Heavy strikes hit Lebanon's capital Beirut overnight as Israel claimed it had struck a "senior Hezbollah commander" and another member of the group. Israeli Defence Minister Israel Katz said his country's military intends to occupy a swathe of southern Lebanon.

Beirut

Israeli strikes kill seven in Beirut as it vows to occupy southern Lebanon

Syria's president has met with UK Prime Minister Keir Starmer in London to discuss the return of Syrian refugees and potential British investment in his country. Ahmed al-Sharaa is trying to drum up support in Europe for Syria's economic recovery after years of conflict.

London

Syrian president Al-Sharaa meets UK PM Starmer in London

President Trump lashed out at European allies who he said haven't done enough to help reopen the Strait of Hormuz to oil tanker traffic. Weijia Jiang has details.

Trump lashes out at European allies over Strait of Hormuz

U.S. Defense Secretary Pete Hegseth has called on NATO allies to help reopen the Strait of Hormuz, which has been effectively closed by Iran during the ongoing war.

Pentagon chief calls on NATO to act on Strait of Hormuz crisis

The U.S. Supreme Court ruled on Tuesday (March 31) in the case of a Colorado law banning conversion therapy for minors. Justice Ketanji Brown Jackson was the lone dissenter.

Supreme Court rules against Colorado youth 'conversion therapy' ban

Spain's airspace is now closed to U.S. planes involved in attacks on Iran, a step beyond its previous denial of use of jointly operated military bases. Prime Minister Pedro Sanchez has become one of the most vocal critics of the U.S. and Israeli attacks in Iran.

Madrid

Spain closes airspace to U.S. planes involved in attacks on Iran

The FBI says the synagogue attack earlier in March was inspired by Hezbollah, targeting Michigan’s largest Jewish temple with a truck packed with fuel.

West Bloomfield Township

FBI: Michigan synagogue attack inspired by Iran-backed Hezbollah

High Representative Kaja Kallas gathered EU foreign ministers in Kyiv to honor the victims of the Bucha massacre, which has since then come to symbolize the search for justice and accountability in Ukraine.

Bucha

EU, except Hungary, vow accountability for war crimes in Ukraine

U.S. President Donald Trump has told aides that he is willing to end the U.S.-Israeli war with Iran even if the Strait of Hormuz remains largely closed, The Wall Street Journal reported, citing officials.

Trump willing to end war even if Strait of Hormuz stays closed: report

A new court filing reveals defense attorneys for Tyler Robinson, the man accused of killing Charlie Kirk, claim an ATF analysis could not conclusively connect the bullet that killed Kirk to the gun Robinson allegedly used. Now the lawyers are asking to delay Robinson's preliminary hearing to review the evidence.

Salt Lake City

Questions raised about bullet used to kill Charlie Kirk

A Tehran resident told CBS News many people have given up hope that the war will help topple the regime, adding that it is "ready at any cost" to stay in power. Meanwhile, U.S. President Donald Trump has renewed threats to strike Iran's power plants.

Tehran

Trump continues Iran threats amid hopes for peace

Israeli Prime Minister Benjamin Netanyahu, Trump's partner in attacking Iran, said more than half of his military aims had been achieved, but both leaders refused to put a timeline on an operation that has ignited a month-long regional war and jolted global markets.

Jerusalem

Netanyahu says Iran war goals achieved 'beyond halfway point'

The White House said U.S. sanctions policy toward Cuba remains unchanged, even as a sanctioned Russian oil tanker was allowed to deliver fuel to the island on humanitarian grounds. The United States suspended Venezuela's oil exports to Cuba after American forces captured Venezuelan President Nicolas Maduro in early January.

Havana

U.S. says Cuba sanctions unchanged as Russian oil tanker allowed entry

About 90% of Iran’s crude oil exports leave the country via the small island in the Persian Gulf's north, much of it destined for China and other Asian markets.

Kharg

Trump threatens to obliterate Kharg Island if no deal reached soon

Iran issued a warning to the U.S., against a possible ground invasion as both sides continue to launch air and missile strikes. Holly Williams has the latest.

Iran warns against U.S. launching ground operation

Millions of people protested at "No Kings" rallies across the U.S. and Europe over the weekend against the Trump administration's policies and the war in Iran. Organizers estimate at least 8 million participated in more than 3,300 protests worldwide.

Millions protest Trump administration at 'No Kings' rallies

With Marines and the Army's 82nd Airborne Division amassing in the Middle East, President Trump on Air Force One wouldn't confirm if U.S. forces will head into Iran for a ground operation, only saying, "I just have lots of alternatives." It comes as members of both parties have voiced concerns.

Trump weighs sending U.S. forces into Iran for ground operation

Israel’s parliament on March 30 passed its annual budget in a marathon overnight session, ensuring that Prime Minister Benjamin Netanyahu’s government can complete its term until the fall. The opposition slammed the budget for increasing funding to Israel's ultra-Orthodox communities at a time when the country is facing soaring costs over its war in Iran.

Knesset approves record defense spending bill

A Russian oil tanker is poised to deliver some much-needed crude oil to Cuba. The Anatoly Kolodkin is expected to dock in the western port of Matanzas imminently, according to shipping tracker MarineTraffic. This comes after Donald Trump appears to have reversed the US blockade of the island nation.

Cuba to receive shipment of Russia oil after U.S. lifts pressure

Media reports suggest the Pentagon is preparing for possible ground operations in Iran, though the White House says no decision has been made. The prospect of U.S. troops on the ground has sparked concern about the potential for a risky new phase in the conflict.

Breakdown