Author: Money Mechanics

According to Home Depot executives this week, many Americans are delaying expensive home improvement projects as the war with Iran drags on, elevating prices on just about everything. But if you’re borrowing from your home equity with plans to move forward with a home renovation, you can take solace in the fact that equity rates are at or near their 2026 lows. Find out how HELOC and home equity loan interest rates work and what you can expect to pay. HELOC and home equity loan rates: Friday, May 22, 2026 The average HELOC rate is 7.21%, according to real estate…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 22, 2026 Kevin Warsh takes oath of office as chairman and a member of the Board of Governors of the Federal Reserve System, and the Federal Open Market Committee unanimously selects Warsh as its chairman For release at 4:15 p.m. EDT Kevin Warsh on Friday took the oath of office as chairman and a member of the Board of Governors of the Federal Reserve System. Also on Friday, the Federal Open Market…

In-brief analysis May 22, 2026 Against the backdrop of a nationwide increase in gasoline prices, regional dynamics including local supply and demand conditions, state fuel specifications, and state taxes influence the different prices drivers see at the pump. Gasoline prices are higher than in February because of increasing crude oil prices related to the de facto closure of the Strait of Hormuz. The cost of crude oil typically accounts for about half of the retail gasoline price. Retail gasoline prices and crude oil prices remain below those in May 2022. In recent weeks, temporary refinery…

Spot gold is changing hands at $4,521.16 per troy ounce in mid-session U.S. trade on Friday, May 22, 2026, with the June COMEX contract () marked at $4,520.70, down 0.48% on the session. The metal opened at $4,544.20 before the European bid faded, and intraday prints have walked through $4,520.30 at the early U.S. read and $4,505.60 in the WSJ snapshot taken later in the day. The decline from Thursday’s reference of $4,544.36 works out to roughly $23.20 in absolute terms. That number undersells what is actually happening on the chart, because every opening tick this week has landed inside…

(Oil Price) – TotalEnergies is considering selling 50% of some of its solar and wind assets in Europe as part of its strategy to partner with other companies in operating and monetizing its clean energy portfolio, Bloomberg reported on Friday, quoting anonymous sources with knowledge of the plans. The France-based oil and gas supermajor, which has been developing a global renewable energy portfolio for years, is now working with advisers to potentially market 50% in a combined 1.2 gigawatts (GW) of solar and wind power assets in France, Germany, Spain, and Poland, according to Bloomberg’s sources. A deal could be worth several…

Social Security’s solvency problems combined with advice by online financial commentators could cause Americans to accelerate their benefit claims.Many members of Generation X and Baby Boomers who are not yet eligible for Social Security said they will claim benefits as soon as they are eligible, according to a study by Northwestern Mutual.In addition, because of inflation and Social Security’s precarious position pre-retirees have increased by 15% the amount of money they believe is needed for a comfortable retirement to $1.46 million in the latest survey from $1.25 million four years ago. About 25% of Generation X and 40% of Boomers…

A Pennsylvania broker is suing to end the state’s century-old requirement that real estate professionals must have a dedicated office separate from their home.Kevin Gaughen says he spent $35,000 a year on rent, taxes, utilities, and insurance to maintain the 1,000-square-foot converted Lemoyne office he’s had since 2017. A Pennsylvania state law requires that brokers maintain a physical office, where they hold licenses and records.But Gaughen says he, like many brokers, spends most of his time at properties, in showings and with clients in other places. So he says he’s seen more state inspectors there than clients. “To be quite…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Put yourself in US President Donald Trump’s shoes. Your voters are wrestling with petrol prices that have soared above $4.50 per gallon. You know your country makes more oil than it consumes. And you just returned from a trip to China, a country that appears to outsiders to have turned central planning into economic abundance. What would you do?If the answer is “stop exporting”, not so fast. While the US did have a crude oil export ban in place until 2015, officials…

Each week in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter editor, answers questions on topics submitted by readers. This week, she’s looking at four questions on Roth IRAs and the five-year rule, including contributions and conversions. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. What is the Roth IRA five-year rule?Question: I understand that to withdraw money from a Roth IRA without paying tax or a penalty on the earnings, the account owner must have had the money in the Roth IRA for at least five years and be age 59½ or older.…

The trade deal between the U.K. and Gulf states is a “monumental achievement,” Bahrain’s industry minister told CNBC. Abdulla bin Adel Fakhro, Bahrain’s minister of industry and commerce, said the free trade agreement, announced on Wednesday, was a win-win for the U.K. and Gulf Cooperation Council, and “very significant.””The size of this FTA [free trade agreement] is very big, the bilateral trade between the countries is very big and the investment between the countries is also very large,” he told CNBC’s Dan Murphy, saying he expected those areas of cooperation to grow thanks to the deal. “We really consider it…