Author: Money Mechanics

Key Takeaways Middle class workers in their 50s have a median of $112,000 saved for retirement—and nearly half expect to work past 65 or never fully retire.Many savers didn’t start out with a lot—they began saving when they could, captured every employer match, and avoided cashing out. Do you ever wonder how well other middle class people are saving for retirement? That is, what they’re actually saving—and where they’re saving it? The truth is that Americans’ savings are messy, uneven, and often spread across multiple accounts built over decades. Here’s what the data says. What Middle Class Retirement Savings Actually…

Key Takeaways Among 35- to 44-year-old homeowners, the median home value was $392,030 in 2024, according to U.S. Census Bureau data.Your home’s market value matters less than ensuring you can afford your mortgage and your other bills, as well as saving for retirement. The median home value among 35- to 44-year-old owners hit $392,030 in 2024—but that figure hides a 34-to-1 gap between the priciest and cheapest markets in the country. A better comparison for where you stand requires a closer look. “Context really matters,” said Joon Um, a tax advisor at Secure Tax and Accounting, a financial planning and…

According to Citi analysts, geopolitics will continue to provide support for oil prices in the immediate term, but they may later come under pressure if President Trump’s attempts to clinch a peace deal with Russia and a nuclear deal with Iran succeed.  “It is our base case that both Iran and Russia-Ukraine deals happen by or during the summer of this year, contributing to a decline in prices to $60-62/bbl Brent and lowering diesel and gasoline cracks by $5-10 dollars,” the analysts said, as quoted by Reuters. Until that happens, however, the possibility of supply disruptions resulting from sanction enforcement…

29% of homebuyers paid with cash in December—the lowest share for that month since 2020—as a drop in mortgage rates diminished the benefits of paying in cash. Cash purchases were most common in Florida and least common on the West Coast. 14% of buyers who took out mortgages used FHA loans—the lowest December share in four years. The share of buyers using conventional loans and VA loans rose slightly. Just under 3 in 10 (29%) U.S. homebuyers paid in all cash in December, down from 30.3% a year earlier and the lowest December share since 2020. The data in this…

(BOE Report) – Separatists in Alberta are ramping up a petition campaign aimed at triggering an independence vote in the western province that has long complained its economy is being held back by the rest of Canada. Volunteer canvassers are hoping to collect by May 2 approximately 177,000 signatures, or 10% of the province’s registered voters, the threshold required to launch a citizen-led referendum on separation from Canada. While unlikely to result in an independent Alberta, the campaign poses a challenge to Prime Minister Mark Carney’s efforts to show a united Canadian front in the face of U.S. President Donald…

Today’s CD rates still hover well above the national average. The Federal Reserve reduced its target interest rate three times in 2025. This has a ripple effect on deposit account rates, which means now could be your last chance to lock in today’s high rates with a certificate of deposit (CD). Here’s a look at today’s best CD rates and where you can find the best offers. Today, the highest CD rate is 4% APY. This rate is offered by Marcus by Goldman Sachs on its 1-year CD. Here is a look at some of the best CD rates available…

Homes in Crockett, California, US, on Thursday, Jan. 22, 2026. David Paul Morris | Bloomberg | Getty ImagesMortgage rates for conventional loans didn’t budge last week, and neither did overall demand, but borrowers are actively seeking other loan products that offer bigger savings. Total mortgage application volume increased 0.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, remained unchanged at 6.21%, with points staying unchanged at 0.56, including the origination fee, for loans with a 20%…

Highwings via Amazon / Elyse Betters Picaro / ZDNETFollow ZDNET: Add us as a preferred source on Google. ZDNET’s key takeaways Quick HDMI tweaks can noticeably improve picture and sound quality.Your TV’s settings and cables play a bigger role than you probably realize.A few checks can prevent HDMI problems and boost performance.Connecting your devices to a TV with HDMI is easy enough. Plug your cable in, and you’re good to go, right? Not so fast, my friend.Also: How to disable HDMI-CEC on your TV – and why it makes such a big difference doing soIn reality, getting the best performance…

It is a pleasure to join you again this year for the American Bankers Association Community Bankers Conference. As a former community banker, I always enjoy taking time to learn from your experience to inform my work at the Federal Reserve.1 Today, I would like to discuss a concerning trend in our financial system that has significant implications for the banking industry, the stability of the mortgage market, and consumers. Whether due to a conscious decision in response to the regulatory environment or other factors, we have seen a significant migration of mortgage origination and servicing out of the banking…

The Dollar Index is trapped between cooling inflation and political uncertainty. Markets are balancing rate-cut expectations against a shifting Fed leadership narrative. This week’s FOMC minutes and PMI data may decide whether DXY breaks 96.55 or reclaims 98. The appears to have entered a consolidation and wait-and-see phase in February, with its direction shaped more by news flow than by a classic trend environment. The move that extended toward the 98 threshold at the end of January, driven by Kevin Warsh’s official candidacy narrative, subsequently lost momentum as disinflation signals came to the forefront, and the index closed just below…