Author: Money Mechanics

Japan is embarking on an ambitious effort to retrieve rare earth elements from the ocean floor as it seeks to loosen China’s grip over the metals vital to missiles, radar systems and drones.A Japanese state-backed expedition announced this month that it had successfully retrieved mud rich with rare earths from a remote Pacific seabed 6,000m deep — deeper than Mount Fuji is tall.Japan in 2011 discovered resources near Minamitorishima, an atoll 1,900km south-east of Tokyo that is part of the country’s exclusive economic zone. But efforts to extract the elements have gained newfound urgency after China last month announced tighter…

Morsa Images | Digitalvision | Getty ImagesThere’s a line item in homebuyers’ closing costs that’s causing a clash in the mortgage industry: the fee for lenders to check borrowers’ credit.While the charges — typically in the tens or hundreds of dollars — represent a tiny slice of the amount that buyers pay when a home purchase is finalized, the cost has risen sharply in recent years. Costs in 2026 could rise an average 40% to 50%, according to a Dec. 12 letter from the Mortgage Bankers Association to Federal Housing Finance Authority Director Bill Pulte.The trade association asked the FHFA…

Key Takeaways Nearly 6 in 10 retirees carry debt, with a median balance of $32,050, according to Federal Reserve data.Credit cards are the most common type of debt in retirement, while mortgages tend to carry the largest balancesWith income often fixed, cutting expenses may help retirees manage debt, while some may turn to part-time work to bring in extra cash. Get personalized, AI-powered answers built on 27+ years of trusted expertise. Nearly 6 in 10 Retirees Still Have Debt Retirement doesn’t mean the bills disappear. In fact, nearly 6 in 10 retirees carry some kind of debt, according to the…

(World Oil) – The Texas Independent Producers & Royalty Owners Association (TIPRO) has launched a new electricity procurement initiative aimed at helping oil and gas operators manage rising power demand and costs across Texas. The TIPRO Power Texas program, developed in partnership with Arise Energy, provides member companies with access to competitive electricity sourcing options through a digital procurement platform that connects users with multiple power suppliers. The offering is designed to support operators as electrification of oil and gas operations and broader industrial growth drive higher power consumption across the state. Electricity demand in the Electric Reliability Council of Texas (ERCOT) market…

Interest rates on home equity lines of credit (HELOCs) and home equity loans are the lowest in years. And that means your monthly payment is more affordable. The example at the bottom of this page illustrates a HELOC payment of $302 a month on a $50,000 equity draw. It’s a valid estimate, but of course, your repayment terms may vary. The average HELOC rate is 7.23%, according to real estate data firm Curinos. The 52-week HELOC low was 7.19%. The national average rate on a home equity loan is 7.44%. The low was 7.38% in early December 2025. Rates are…

U.S. PPI inflation, Nvidia earnings will be in focus in the week ahead. Nvidia is poised to deliver yet another landmark quarter. Intuit faces a storm of fundamental and technical headwinds as it prepares to report. U.S. stocks ended higher on Friday after the Supreme Court struck down President Donald Trump’s tariffs. In response, Trump called the ruling a “disgrace” and announced that he would impose a new global tariff rate of 15% in a Truth Social post on Saturday, a day after setting a 10% duty.  Source: Investing.com With Friday’s move, the 30-stock Dow Jones Industrial Average tacked on…

Weekly pending sales Pending home sales data provides a week-to-week perspective, though results can be affected by holidays and short-term fluctuations, such as the giant winter storm in January. We were showing year-over-year growth to start the year and that snowstorm did slow things down. Two weeks ago, we had a nice week-to-week data print. This week, we are back to year-over-year growth again too. Over the past few years, our weekly pending home sales data tends to be mostly positive with mortgage rates near 6%.  Weekly pending sales last week over the last two years: 2026: 59,283 2025: 56,693 …

Orico / Elyse Betters Picaro / ZDNETFollow ZDNET: Add us as a preferred source on Google.ZDNET’s key takeawaysYour iPhone’s USB-C port does far more than charge devices.USB-C turns your iPhone into a hub for work, media, and storage.Wired USB-C accessories deliver faster, more reliable performance.For years, the iPhone was stuck with the Lightning port, even as Apple moved its other devices to USB-C. That meant keeping one cable for my iPhone and another for my iPad and Mac. However, starting with the iPhone 15 lineup, Apple finally made the switch.Every current iPhone model, including the iPhone 15, iPhone 16, and…

Key Takeaways Median bank account balances in the U.S. range from $5,400 for those under 35 to $13,400 for ages 65–74, according to Federal Reserve data. Couples report higher median savings than single households. College-educated households have the highest bank balances. The data reflects median—not average—savings, offering a more accurate snapshot of what typical Americans hold in their bank accounts. To boost your savings faster, consider a top high-yield savings account, money market account, or CD. Get personalized, AI-powered answers built on 27+ years of trusted expertise. How Much Cash Americans Keep in the Bank—And Where You Stand Ever wondered…

Just a few minutes back, while I was evaluating possibilities of a military strike by the U.S. on Iran, if it really occurs on Saturday as expected after repeated threats by President Trump after Oman’s meeting between the diplomats from the U.S. and Iran, it remains inconclusive, leading to a final threat from President Trump.But suddenly, a shift in Trump’s stance, as he said on Friday, the maximum he would give Iran to make a deal is 10-15 days, while Iran’s foreign minister says a draft nuclear agreement could be ready in the next few days.I tried to dig more…