CBS News
SpaceX to launch Super Heavy-Starship today in 6th test flight. Here’s what to know.
With President-elect Donald Trump and SpaceX CEO/newly-minted efficiency czar Elon Musk expected to be looking on, SpaceX plans to launch the world’s most powerful rocket today on its sixth test flight — a ground-shaking sub-orbital launch of a gargantuan Super Heavy-Starship to evaluate critical upgrades.
What time will the SpaceX Starship launch take place?
Liftoff of the 30-foot-wide, 397-foot-tall rocket from Musk’s sprawling Boca Chica, Texas, manufacturing and test facility on the Gulf Coast near Brownsville is targeted for 5 p.m. EST, the opening of a 30-minute launch window.
As with the rocket’s fifth test flight last month, the primary goals of Tuesday’s flight remained the same: to boost the Starship out of the lower atmosphere on a sub-orbital flight to re-entry over the Indian Ocean while the Super Heavy booster flies itself back to the launch pad where giant mechanical arms will pluck it out of mid air.
Will Trump attend the SpaceX Starship launch?
Trump planned to fly to south Texas to witness the launch, sources familiar with the plans told CBS News. Trump mentioned the new rocket in a Sept. 21 campaign speech in Wilmington, North Carolina, urging Musk to “get those rocket ships going because we want to reach Mars before the end of my term. We want to do it.”
What’s different about launch 6 than the previous 5 launches?
This time around, one of the Starship’s methane-burning Raptor engines will be re-started in space to demonstrate the propulsion system’s ability to perform critical maneuvers and future de-orbit burns.
Engineers also are testing “a suite of heatshield experiments and maneuvering changes for ship reentry and descent over the Indian Ocean,” SpaceX said on its web page, along with software and booster hardware upgrades intended to add additional propulsion system redundancy and increase the rocket’s structural strength.
The October test flight was the first featuring a successful launch pad “catch” and the first with a Starship that reached the Indian Ocean essentially intact.
For Tuesday’s flight, launch was moved to the late afternoon in Texas to ensure a daylight splashdown for video documentation.
Plans for the Super Heavy-Starship
The Super Heavy-Starship is the centerpiece of Musk’s drive to develop a fully reusable heavy-lift rocket, which he says is the key to making humanity “multi-planetary.” And now, with Trump’s support, he may be able to kick start that effort.
Shortly after winning the presidential election, Trump announced that Musk and one-time presidential contender Vivek Ramaswamy would lead a new agency known as the Department of Government Efficiency. The goal, Trump said in a statement, is to “dismantle government bureaucracy, slash excess regulation, cut wasteful expenditures and restructure federal agencies.”
Musk said in the same statement: “This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people.”
SpaceX already holds billions in government contracts and is building a variant of the Starship to serve as the initial lunar lander in NASA’s Artemis moon program. It remains to be seen how Musk’s role in the new administration might advance SpaceX’s plans or how questions about conflicts of interest might be resolved.
Politics aside, “we are looking at a serious effort to return to the moon, and maybe a serious effort … to send, if not humans to Mars in the next four years, a lot of stuff and a lot of infrastructure that will enable humans to get to Mars,” said Casey Drier, director of space policy for the Planetary Society.
“Maybe not in four years, but maybe in the next 10.”
The key to those plans is the Super Heavy-Starship.
How does the Super Heavy-Starship work?
The Super Heavy booster is powered by 33 Raptor engines burning liquid methane and oxygen to generate more than 16 million pounds of thrust at full throttle, more than twice the liftoff power of NASA’s legendary Saturn 5 moon rocket. The Starship is powered by six Raptors and will be capable of carrying astronauts, satellites and science probes.
Like the company’s workhorse Falcon 9 rocket, the 230-foot-tall first stage is designed to be fully reusable, flying itself back to the launch pad where giant “chopsticks” mounted on the pad gantry can catch the booster as it descends, enabling rapid servicing, re-fueling and launch.
Unlike the Falcon 9, which uses a throw-away second stage, the 160-foot-tall Starship also is reusable, capable of safely returning to Earth after launching satellites or carrying astronauts to the moon and eventually, Musk says, to Mars.
SpaceX already ferries astronauts and cosmonauts to and from the International Space Station using Falcon 9s carrying the company’s Crew Dragon spacecraft and is building a variant of the Starship for NASA to carry astronauts back to the moon’s surface in the 2026-27 timeframe.
The company also launches commercial and military satellites, is building a powerful space tug for NASA to help drive the International Space Station safely out of orbit when the program is retired in 2030 and is launching thousands of its own Starlink satellites to provide global access to the internet.
“SpaceX functionally has the monopoly on access to space,” said Drier. “Pretty much any asset that you want to launch into space, whether you’re the U.S. government or commercial provider, a satellite company, even the European Space Agency, they are all using SpaceX rockets.”
CBS News
Manhattan DA says he’s against dismissing Trump’s “hush money” conviction
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
CBS News
Nov 19: CBS News 24/7, 1pm ET
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
CBS News
Why home equity loans are better than refinancing right now
Homeowners looking to access a large sum of money in today’s economic climate don’t have to look too far to find it. By turning to their accumulated home equity, owners can potentially finance a major expense (or multiple major expenses) simply by using the money they already have via their home’s value.
While there are multiple ways to do this, many may be considering a traditional mortgage refinance or cash-out refinance. But in today’s unique and constantly changing interest rate climate, that could prove to be a costly mistake. Instead, right now, both home equity loans and home equity lines of credit (HELOCs) are arguably better than refinancing. Below, we’ll explain why.
Start by seeing what home equity loan interest rate you could qualify for here.
Why home equity loans are better than refinancing right now
Here are three reasons why a home equity loan may be more beneficial than a refinance now:
You’ll maintain your existing mortgage rate
The average home equity loan interest rate is 8.41% as of November 19, 2024, but the average mortgage refinance rate for a 30-year loan is 6.93%. So, on the surface, it appears that refinancing is cheaper. But that refinance rate will require you to exchange your current mortgage rate to get the new one.
That could be a costly mistake if you have a rate under 6.93%, as millions of Americans do right now. By applying for a home equity loan, however, you’ll still gain access to your equity, but you won’t need to bump your mortgage rate to get it. And if home equity loan rates drop in the future, as they have for most of 2024, you can simply refinance your loan to the better rate then.
Get started with a home equity loan online today.
You may qualify for a tax deduction
When you use a cash-out refinance, you apply for a loan larger than what you currently owe to your lender. You then use the former to pay off the latter and keep the difference as cash for yourself. Interest paid on mortgage loans is tax-deductible, but so is the interest on home equity loans if used for qualifying purposes. At that higher interest rate, you may qualify for a larger deduction (while still maintaining your current lower mortgage rate).
The average home equity amount is high right now
A combination of low mortgage interest rates during the pandemic, a drop in available inventory and a hesitation to sell now that rates are high again (amid other complex but interrelated factors) has caused the average home equity amount to soar to just under $330,000 right now. If you want to access that with a refinance, as noted, you’ll need to give up your current mortgage rate to do so. And if you want to access it via a credit card or personal loan, the restrictions will be significant. It makes sense, then, to take advantage by using a home equity loan or HELOC instead of taking a gamble with a refinance right now.
The bottom line
With mortgage refinance rates elevated, the unique feature of a potential tax deduction tied to home equity borrowing and a six-figure average equity sum available now, for many homeowners in need of financing it makes sense to skip a refinance for a home equity loan now. That said, this type of financing is tied to your most important financial asset so the decision to withdraw it from it should be carefully weighed against the risks. Consider speaking to a financial advisor or home equity lender who can answer any questions you may have before getting started.
Speak to a home equity loan lender now.