Author: Money Mechanics

Mortgage purchase application data 2026 has had the best start to purchase application data in years, with multiyear highs in this index last seen in early 2023, when rates reached 5.99% before rising to 8% later that year. However, this year, conditions differ markedly for mortgage rates: the Fed has already cut rates substantially since 2023 and mortgage spreads are roughly back to normal. I was anticipating a larger hit in this data because rates moved just a tad higher last week and the massive winter storm affected two-thirds of the country, but we didn’t see much of a hit:…

“Melania,” a documentary about First Lady Melania Trump, is exceeding box office expectations, with Sunday estimates suggesting it will make $7.04 million on its opening weekend. The documentary is coming in third overall for the weekend, behind the Sam Raimi-directed thriller “Send Help” ($20 million) and “Iron Lung” ($17.8 million), a video game adaptation from YouTuber Mark Fischbach (better known as Markiplier). Amazon paid $40 million to acquire “Melania” and is reportedly spending $35 million to promote it. So even though the documentary is outperforming pre-release estimates predicting a $3 to $5 million opening weekend, it’s unlikely to make a…

Key Takeaways Only 14% of participants contribute the annual maximum in Vanguard-run defined contribution retirement plans, such as 401(k)s.High-income earners are more likely to max out their 401(k)s, but even if you have a modest income, you can reach this goal.The power of compounding returns means you have a strong incentive to save as much as possible, as soon as possible. The reality of the U.S. retirement system is that most workers chronically under-save. Just over one-third of non-retirees said they thought their retirement savings plan was on track in 2023, according to a Federal Reserve survey.  Still, many workers…

(World Oil) –  Coterra Energy Inc. and Devon Energy Corp. are in advanced talks about a combination, according to people familiar with the matter, in what would be one of the largest oil and gas deals in years. The companies could announce a deal in the coming days, said the people, who asked to not be identified because the talks are private. No final decision has been made, and the timing could change or talks could fall through, the people added. Coterra rose 2.9% to $28.60 at 1:12 p.m. in New York trading Thursday, giving the company a market value of about $21.8…

Key Takeaways Only 3.2% of retirees have $1 million in retirement accounts vs. about 2.6% of Americans in general.The average retirement savings for households aged 65-74 is $609,000, while the median is only about $200,000.The number of “401(k) millionaires” in America reached a record of about 497,000 last year. Many Americans dream of retiring with a million-dollar nest egg —Americans in general think you need about $1.5 million to retire—but the reality is starkly different. Using figures from the U.S. Federal Reserve’s Survey of Consumer Finances (updated to 2022 but released in 2025), only about 2.5% of all Americans actually…

Key Takeaways Most retirees’ biggest regrets are not saving enough and not starting to save early; both can impact your finances and overall happiness later in life. Starting to save even small amounts early on pays off massively over time, thanks to compounding interest. With people living longer and traditional pensions becoming less prevalent, saving more than feels comfortable now can make the difference between merely getting by and truly enjoying retirement. Retirement has changed due to longer life spans, shrinking pensions and rising health care costs. What was once a quiet chapter in one’s life now demands a more…

Key Takeaways Morningstar’s new analysis suggests a 3.9% starting withdrawal rate gives retirees a high probability of not running out of money during a 30-year retirement.Delaying Social Security until age 70 can meaningfully boost lifetime retirement income, but it may require temporary spending cuts or bridge strategies. You’ve done the work of saving for retirement, but now that you’ve reached your golden years, do you have a plan for how you’ll spend down your nest egg? For future retirees, Morningstar suggests withdrawing 3.9% of your portfolio the first year and then adjusting for inflation every year after that, according to…

Key Takeaways Englewood, Florida, is an affordable small town, home to about 20,000 year-round residents.Englewood’s cost of living is about 5% more than the national average, but that’s much better than other areas that offer Florida sunshine.Historic Dearborn Street offers numerous monthly events, top-notch shopping, a playhouse, and a farmers’ market.Englewood’s public transportation options are somewhat limited, but Sarasota County Area Transit (SCAT) does offer local bus service and Dial-a-Ride Services. Images of young, frolicking beachgoers come to mind for many people at the mention of Florida, but then there’s the hidden gem of Englewood. Nestled in the southern part…

Key Takeaways Kevin Warsh’s record shows a former crisis-era Fed hawk who now appears more open to rate cuts, creating uncertainty about how he would balance inflation risks with President Trump’s push for lower interest rates.His long-standing skepticism of quantitative easing and forward guidance suggests he may favor a smaller Fed balance sheet and less predictable policy communication, with potential consequences for markets and mortgage rates. Kevin Warsh, President Donald Trump’s pick to run the Federal Reserve, left a long track record when he served as Fed governor from 2006 to 2011. Not all of that history is instructive for…

Question: My father died and left me $250k. I want to use the money for a second home, but my wife wants to earmark it for our kids’ college. Who is right?Answer: By 2048, an astounding $124 trillion is expected to pass from older generations to younger ones. It’s been called the Great Wealth Transfer, and it could have huge implications for those who will inherit wealth.It could be a source of conflict. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK…