Author: Money Mechanics

KEY TAKEAWAYS The Department of Education has temporarily paused student loan forgiveness under the Income-Based Repayment plan to comply with a court injunction.Some borrowers have finished the required payments to qualify, but must wait until forgiveness is reinstated.Borrowers are frustrated as they wait in limbo, unaware if they will receive forgiveness before the end of the year, after which they will have to pay taxes on it. Federal student loan borrowers who qualify to have their loans discharged are waiting in the dark for their promised loan forgiveness. Earlier this year, the Department of Education temporarily paused time-based student loan…

Key Takeaways The Federal Reserve’s interest rate moves directly impact the APYs savers earn.Rate cuts can erode consumer purchasing power.Pay close attention to Fed-related headlines for any clues regarding the direction of interest rates.Online banks may respond more aggressively to Fed policy changes.Consider ladders of long-term CDs or T-bills that may offer better rates or stability. The actions taken by the Federal Reserve impact the entire economy, and this includes savings account rates. When the Fed cuts the federal funds rate, banks typically follow suit by reducing their own interest rates. At the Federal Reserve’s recent meeting, Chair Jerome Powell…

August HighlightsCanadian volumes remain strong at 1.18 billion Average Daily Volume (ADV), down 0.15% month-over-month but up 27% year-over-yearCboe Canada market share is stable at 12.6%NEO-D market share increased to approximately 0.2% overall market share and 2.8% of all dark poolsNEO-D is the only dark marketplace in Canada that provides an active rebate to retail with price improvement.NEO-D has a strict price-time priority model with no broker preferencing.NEO-D active volume is over 56% retail.Source: TMX Information ProcessorUpcoming ChangesSeptember 30, 2025: Cboe Canada plans to roll out visible Primary Peg order type October 27, 2025: Cboe Canada plans to update hours…

KEY TAKEAWAYS Although millions of student loan borrowers are behind on their payments, a quarter of borrowers are confident they will pay off their loans this year.Older borrowers are more pessimistic about their student loans, and more of them say they will never be free from their student debt.Since the Department of Education has resumed collections on defaulted loans in May, many borrowers say they are feeling the affects of that. Millions of student loan borrowers have been making headlines lately as they struggle to keep up with their payments, but a surprising number of them say they expect to…

Adobe (ADBE) just reported record quarterly revenue driven by artificial intelligence gains. Will it revive confidence in the stock? The creative software giant late Thursday posted adjusted earnings per share of $5.31 on revenue that jumped 11% year-over-year to a record $5.99 billion in the fiscal third quarter, above analysts’ estimates compiled by Visible Alpha, as AI revenues topped company targets. CEO Shantanu Narayen said that with the third-quarter’s revenue driven by AI, Adobe has already surpassed its “AI-first” revenue goals for the year, leading the company to boost its outlook. The company said it now anticipates full-year adjusted earnings…

Key Takeaways Mortgage rates slid this week to their lowest level since October, trimming monthly costs for homebuyers nationwide.Boston had the steepest percentage decline, with payments down more than 8%, while Los Angeles buyers saw the biggest dollar drop, at almost $450 per month.Among the 16 metro areas with the sharpest monthly declines, Buffalo was the most affordable at $1,439, with Birmingham close behind at $1,510.Every one of the 50 largest metros saw monthly payments ease compared with a month ago. See our full list to find your city. The full article continues below these offers from our partners. Mortgage…

Buying a million-dollar home on a $250,000 salary might sound like a reasonable goal. After all, with a six-figure income, many assume they can comfortably manage the mortgage. But the reality looks different once you add in taxes, insurance and other costs.As mortgage interest rates edge lower, buyers may feel encouraged to shop for bigger or more expensive homes. Before you stretch your budget, it’s worth running the numbers to see what a $1 million home really costs each month and over the long term.From steep closing costs to jumbo loan requirements, the expenses quickly add up. Here’s a closer…

Stocks rose out of the gate Thursday and kept climbing into the close as the latest inflation data all but guaranteed the Federal Reserve will resume rate cuts at its meeting next week.Ahead of the open, data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) was up 0.4% month over month in August, higher than the 0.2% rise seen in July and the 0.3% increase economists expected.The CPI was 2.9% higher year over year, a quicker pace than the month prior and the largest annual increase since January. Still, the results arrived in line with…

Retirement doesn’t mean the end of bringing home a paycheck. Countless people are working in retirement, whether they are consulting, working part-time, or starting a new career.For some, they’re working because they need the money. But for others, money isn’t the issue. They are working for other reasons.“There are people who didn’t save enough and need the money or need the benefits, and there are people who enjoy work. It gives them something,” says Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute. “There are many positive reasons people work in retirement.” From just $107.88 $24.99…

Starting September 30, the cost of entering the U.S. under the Visa Waiver Program is going up, nearly doubling from $21 to $40.Visitors to the U.S. from some of the nation’s closest allies will soon be required to pay these higher fees, which were outlined in the Trump administration’s “One Big Beautiful Bill.” The measure bundles several initiatives into a single piece of legislation, directing a portion of the new Electronic System for Travel Authorization (ESTA) revenue toward U.S. travel promotion while also helping to fund the Treasury.If you’re traveling to the U.S. from one of 40 Visa Waiver countries,…