The average U.S. 30-year mortgage rate dropped to 6.43%, the lowest since mid-May, making home loans slightly cheaper. Rates have been around 6.5% for months due to global events affecting oil prices and inflation, but recent hopes for peace between the U.S. and Iran helped lower rates a bit.
Key Facts
The 30-year fixed mortgage rate fell from 6.49% last week to 6.43%.
One year ago, the average 30-year rate was 6.67%.
The 15-year fixed mortgage rate also dropped to 5.79% from 5.84%.
Mortgage rates are linked to the 10-year Treasury yield, which was 4.46% this week.
Tensions and conflict between the U.S. and Iran have influenced oil prices, inflation, and mortgage rates.
Sales of previously owned U.S. homes declined in early 2026 compared to last year but saw some improvement by May.
Current home sales are around 4 million annually, below the usual 5.2 million sales level.
The housing market has been slow since mortgage rates rose from low pandemic levels in 2022.
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Stew Leonard Jr., CEO of Stew Leonard's grocery store, spoke about the prices of food for the upcoming July 4th holiday. He also discussed safety tips for swimming during the holiday weekend.
Key Facts
Stew Leonard Jr. is the CEO of Stew Leonard's grocery store chain.
He talked about how much holiday food will cost for the 4th of July.
The interview took place on "CBS News 24/7 Mornings."
He provided advice on how to stay safe while swimming during the holiday.
The focus was on preparing for the July 4th weekend.
The interview is available on the CBS News app and website.
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Even though the U.S. hosted the World Cup, June job numbers do not show an increase in hiring for tourism-related businesses. Leisure and hospitality jobs, which include restaurants and hotels, actually fell by 61,000 in June, and data was revised down for May.
Key Facts
The U.S. hosted the World Cup in 2024.
Leisure and hospitality jobs dropped by 61,000 in June.
May's reported gain of 70,000 jobs was revised down to 40,000.
The leisure and hospitality sector lost an average of 9,000 jobs per month over the last three months.
In the 12 months before that, the sector had been adding an average of 13,000 jobs per month.
Monthly job numbers can change due to seasonal adjustments and sampling errors.
Other economic signs of the World Cup effect, like retail sales and tax collections, will be watched.
Local employment data for the cities hosting the World Cup will be released later.
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Prada appointed Palestinian singer Saint Levant as a brand ambassador. Some pro-Israel social media users are upset because Saint Levant wore a necklace showing the map of historic Palestine in a campaign video. This has led to calls for boycotting Prada.
Key Facts
Prada chose Palestinian singer Saint Levant to represent their brand.
Saint Levant wore a necklace with a map of historic Palestine in an ad video.
The necklace's image sparked anger among pro-Israel groups online.
Social media users have called for a boycott of Prada because of this.
The controversy connects to ongoing tensions between supporters of Israel and Palestine.
Prada’s decision highlights the sensitivity around symbols tied to the Israeli-Palestinian conflict.
This backlash shows how brands can become involved in political and cultural disputes.
The issue gained attention through coverage by news outlets like Al Jazeera.
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The price of silver has dropped by nearly 49% since January 2026, falling from $116.61 to $59.88 per ounce by July 2. Despite this decline, silver is still much more expensive than it was a year ago, and experts suggest it could be a good time for a small, careful investment in silver as part of a diversified portfolio.
Key Facts
Silver's price fell from $116.61 per ounce in January 2026 to $59.88 by July 2, a 48.6% drop.
One year ago, silver cost just under $37 per ounce.
Silver is considered cheaper than gold but offers many similar investment benefits.
Precious metals like silver are often used to protect investments against inflation.
Inflation is currently above 4%, making inflation protection important for investors.
Experts recommend keeping precious metals to no more than 10% of an investment portfolio.
Silver's price is more volatile (goes up and down more) than gold’s price.
The recent price drop may be a temporary chance to buy silver at a lower cost before prices rise again.
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The Kennedy Center will sell VIP rooftop tickets for its Fourth of July celebration. A federal judge delayed the center’s renovation plans, allowing the event to happen, and VIP tickets cost $25,000 each.
Key Facts
The Kennedy Center is hosting a rooftop celebration on July 4th.
VIP tickets for this event are priced at $25,000 each.
Of the ticket cost, $18,912 is tax deductible.
A federal judge postponed the Kennedy Center’s renovation scheduled to start on July 5th.
The delay in renovation allows the center to hold the July 4th event as planned.
The VIP ticket package is called the “Presidential” package.
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After a person dies, some bills need to keep being paid to protect valuable property, but many debts only get paid through the deceased person's estate. Family members usually aren't legally responsible for debts unless they co-signed or live in certain states where spouses share debt. If the estate cannot cover all debts, some bills may remain unpaid without passing to family members.
Key Facts
Bills like mortgage, car payments, homeowner's insurance, and utilities may need to be paid immediately to protect property.
Family members typically do not have to pay the deceased person's debts unless they co-signed or live in a community property state.
Debts such as credit cards, personal loans, and medical bills are paid from the estate during probate before money goes to heirs.
If the estate lacks funds to pay all debts, some unsecured debts may not be paid and are usually written off.
Debt collectors cannot legally force family members to pay debts that belonged to the deceased.
The probate process follows state laws about the order in which debts get paid.
Executors manage the deceased person's financial affairs, including paying debts with estate money.
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The Supreme Court made a decision on a specific legal question about President Donald Trump’s Section 301 tariffs but did not resolve all related issues. This leaves some important questions about the tariffs unclear.
Key Facts
The Supreme Court focused on a narrow legal question involving Section 301 tariffs.
Section 301 tariffs are taxes on imports that President Trump used to address trade problems with other countries.
The court's decision did not address all broader legal or policy questions about these tariffs.
This means that some details about how the tariffs can be applied or challenged remain uncertain.
The ruling affects how government trade actions may be reviewed by courts in the future.
The unresolved issues may lead to further legal cases or government decisions about tariffs.
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Tesla exceeded second-quarter delivery expectations with a record 480,126 vehicles delivered, driven mainly by strong sales growth in Europe. The company plans to increase its spending significantly in 2026 to grow areas like AI, battery production, and autonomous vehicles.
Key Facts
Tesla delivered 480,126 vehicles from April to June, beating analysts’ estimate of about 402,776.
This delivery number is a 25% increase compared to the same quarter last year.
Europe showed strong sales growth, helped by government incentives, rising fuel prices, and more electric company fleets.
U.S. sales remain lower but have declined less than the overall U.S. electric vehicle market.
Tesla’s China-made Model Y sales have grown despite tough competition from local companies like BYD.
Tesla plans to spend over $25 billion in 2026, up from $8.5 billion last year, to invest in AI infrastructure, battery production, and new products.
The company is expanding its “full self-driving” software availability in Europe and growing its robotaxi service, which offers driverless rides in Austin.
Production of Tesla’s Cybercab, a fully autonomous vehicle without pedals or a steering wheel, is expected to increase later this year.
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Andy Burnham, likely to become the next UK prime minister, has shared his plan to improve the British economy by raising living standards. His focus is on fixing the long-term economic problems that have affected people since the 2008 financial crisis, despite challenges like weak government finances.
Key Facts
Andy Burnham is expected to succeed Keir Starmer as UK prime minister.
Burnham was the former mayor of Greater Manchester.
He aims to improve living standards that have not grown much since the 2008 global financial crisis.
The British economy faces difficulties due to weak public finances (government money).
Burnham's plan is central to his political platform.
Economists are discussing how realistic his economic promises are.
The Labour Party is currently facing political challenges in the UK.
The article is part of a business-focused discussion on the UK economy.
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A recent UBS report shows that while Australia's rich are getting richer, the typical Australian's wealth has fallen nearly 7% since 2020. The report highlights growing wealth inequality, with average wealth rising but median wealth—reflecting the middle person—declining in many countries including Australia.
Key Facts
Over 25,000 Australians became millionaires in the past year.
Australia's 178 billionaires are $25.7 billion richer than last year.
The average personal net wealth in Australia rose 19% from 2020 to 2025.
Median wealth, showing the middle person's wealth, dropped by almost 7% in Australia during the same period.
Housing wealth and compulsory retirement savings help Australians have the third-highest median wealth globally.
Median wealth fell in 18 of 29 countries studied, including the US, UK, and Germany.
Economists say rising wealth inequality is driven largely by housing and is a concern for economic growth.
There are calls for an inheritance tax to help address the growing wealth gap.
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You can often settle credit card debt before it goes to collections, but success depends on your payment status and the lender’s policies. Credit card companies usually only negotiate if you are behind on payments and facing financial hardship, offering options like lump-sum settlements, payment plans, or hardship programs.
Key Facts
Credit card interest rates average about 21%, making debt hard to manage.
Missing payments can quickly worsen your financial situation.
Creditors rarely negotiate with borrowers who pay on time.
Lenders may settle for less if you have missed several payments and show hardship.
Settlement options include paying a reduced lump sum or structured payment plans.
Hardship programs may reduce interest rates or monthly bills temporarily.
Contact your creditor before your account is charged off or sent to collections for better options.
Debt relief companies can negotiate with creditors and manage payments for you if you have multiple debts.
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Many families are finding it harder to pay their water bills as prices rise. Water services are becoming more expensive, creating a new affordability problem for households.
Key Facts
Water service bills are increasing for many families.
Rising costs are causing financial strain on households.
The issue is creating an affordability crisis related to water.
Families are surprised and concerned about higher water charges.
This trend affects the cost of essential services in daily life.
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President Donald Trump has decided not to automatically renew the United States-Mexico-Canada Agreement (USMCA), which affects trade rules between the three countries. This decision creates uncertainty for businesses and consumers, possibly leading to higher prices on everyday items like food and cars as the countries negotiate the deal’s future.
Key Facts
The USMCA trade deal currently remains in effect but will enter an annual review process instead of an automatic long-term renewal.
The United States, Mexico, and Canada will continue negotiating to fix issues in the agreement and address trade deficits.
Canada wanted to extend the agreement for 16 more years before the current deadline in 2036, but the U.S. refused to do so.
Businesses that depend on this deal may face uncertainty, which could impact supply chains and investment plans.
Fresh produce from Mexico, such as tomatoes and avocados, might see price changes if trade rules are disrupted.
The North American auto industry, which moves many parts across borders, could face increased costs and higher prices for cars and parts.
Officials say the decision is partly motivated by concerns over Chinese-made products entering the U.S. through Mexico or Canada.
The U.S. and Mexico plan to hold talks soon, but discussions with Canada have not been scheduled yet.
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President Donald Trump has decided not to renew the US-Mexico-Canada trade deal (USMCA) as it currently stands. This trade agreement, which covers $1.6 trillion in annual trade, remains active until 2036, but the U.S. is negotiating with Canada and Mexico and has threatened to leave the deal entirely. States that rely heavily on exports to Canada and Mexico, especially those with strong manufacturing and farming industries, would be most affected if the deal ends and tariffs increase.
Key Facts
The USMCA is a trade deal between the U.S., Mexico, and Canada that started on July 1, 2020, replacing the older NAFTA agreement.
It covers about $1.6 trillion in trade every year among the three countries.
The deal must be renewed every six years, with the current term ending in 2036 if extended.
President Trump said in June 2024 that he is "not looking to renew" the deal and criticized Canada and Mexico's treatment of the U.S.
If the USMCA ends, tariffs (taxes on imports and exports) between the countries could rise, making trade more expensive.
This would hurt states that export many goods, especially cars and farm products, to Canada and Mexico.
The 10 U.S. states at highest risk of economic harm include North Dakota, South Dakota, Michigan, Missouri, Iowa, Montana, New Mexico, West Virginia, Ohio, and Idaho.
The automotive industry is closely connected across the three countries with parts and assembly spread out, so it could face major difficulties if the deal ends.
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Tesla sold 480,126 electric vehicles in the second quarter of 2026, a 25% increase compared to the same time last year. The Model 3 and Model Y made up most of the sales, while production was slightly lower than sales, helping reduce Tesla's previous overproduction issue.
Key Facts
Tesla’s Q2 2026 sales reached 480,126 electric vehicles, up 25% from Q2 2025.
The majority of sales (467,762 vehicles) were Model 3 and Model Y, increasing by 25.2%.
Sales of other models (discontinued Model S, Model X, and Cybertruck) rose 19% to 12,364 vehicles.
Tesla produced 451,758 cars in Q2 2026, which is 10% more than the previous year but fewer than the number sold.
The production of Model S and X decreased by 35% due to their cancellation.
Tesla’s energy storage deployments grew by 40% to 13.5 gigawatt-hours in Q2 2026.
Most of the sales increase came from Europe based on registration data.
The company is managing to balance production and sales better than before.
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Tesla sold 480,126 cars in the past three months, which is more than last year and higher than experts expected. This rise in sales suggests that concerns from boycotts and competition might be easing, especially as Tesla’s cheaper car models and driver assistance features gain popularity in Europe.
Key Facts
Tesla delivered 480,126 cars in the latest quarter, up from 384,122 in the same period last year.
The production volume for the quarter was 451,758 vehicles.
Analysts had estimated about 401,000 car deliveries, so Tesla exceeded expectations.
Tesla saw strong sales growth in Europe, including a 300% increase in Germany in May.
The company released cheaper versions of Model Y and Model 3 last year to boost sales.
More European countries have approved Tesla’s Full Self-Driving (Supervised) feature, including the Netherlands, Estonia, Greece, and Lithuania.
Tesla’s stock price has risen over 40% in the past year, fully recovering from a drop the previous year.
Sales had dropped last year due to protests, boycotts, and vandalism in Europe and the U.S., but have since rebounded.
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CBS Mornings Deals offers special discounts on various products to help improve daily life. Viewers can visit cbsdeals.com to find and buy these items, with CBS earning a commission on sales.
Key Facts
CBS Mornings Deals showcases products with exclusive discounts.
The deals aim to improve everyday lifestyle.
Discounts are available by visiting the website cbsdeals.com.
CBS earns commissions when customers buy products through the site.
The deals are advertised during the CBS Mornings program.
The service is promoted as part of CBS News' offerings.
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Americans are expected to spend more on food for the Fourth of July this year. Ten out of twelve popular holiday food items are pricier compared to last year.
Key Facts
The American Farm Bureau Federation tracks prices of common Fourth of July foods.
Ten of the twelve staple food items have increased in cost since last year.
These staples include typical foods people eat during the holiday.
Rising prices mean more money will likely be spent on holiday food.
The report helps show trends in food prices during summer celebrations.
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