Author: Money Mechanics

Losses from winter storms Hernando and Fern, both of which have occurred in the opening months of 2026, are expected to impact primary insurers more than reinsurance capital providers, according to ratings agency AM Best.In a new report, AM Best stated that while these losses will contribute to a meaningful decline in first-quarter underwriting profits, the impact is expected to be less severe than that of the 2025 California wildfires. “Winter Storm Hernando dropped record snowfall and blizzard conditions in the northeastern United States. The storm resulted in widespread power outages, particularly in Massachusetts, New Jersey, Delaware, and Rhode Island.…

Rocket Mortgage reportedly maintained a 97% net client retention rate, reflecting strong loyalty and lifetime value among borrowers. “2025 was where Rocket demonstrated who we are. We acquired Redfin. We acquired Mr. Cooper. We executed and delivered against our goals in every quarter,” CEO Varun Krishna said during the company’s earnings call. “We grew market share to 5.5% in Q4, up from 3.8% the year prior. This is no coincidence. It is the result of strategy and disciplined execution.” Krishna said the results capped a “transformational year” for the company, citing stronger market share and growth across Rocket’s teams. He…

Key Takeaways Salesforce shares rose Thursday after the software giant posted strong results for the fourth quarter, though its full-year revenue outlook missed estimates. The soft outlook led some analysts to lower their price targets, though most remain bullish on the shares. Is Salesforce’s stock ready for a rebound after some signs of AI-driven gains? The shares climbed 4% to close just under $200 Thursday, making Salesforce (CRM) the best-performing stock in the Dow Jones Industrial Average, on a day when the broader tech sector declined. The software giant posted fourth-quarter sales and profits after the closing bell Wednesday that topped analysts’…

(By Oil & Gas 360) – The European Union is weighing a plan to permanently ban Russian oil imports and to impose a full ban on providing shipping and related services for Russian oil, escalating its efforts to tighten pressure on Moscow. But turning that proposal into reality would likely require coordination beyond Brussels, including backing from G7 partners that play a central role in global maritime insurance and shipping finance. The move reflects Europe’s ongoing attempt to close gaps in the existing sanctions framework. While previous measures targeted Russian crude imports and price caps, service-based restrictions aim to limit the…

(Image credit: Getty Images)Medicare Advantage, the private insurance system that supplants traditional Medicare, continues to set off alarms for triggering massive overpayments costing taxpayers billions.The latest comes from the nonpartisan Committee for a Responsible Federal Budget, which projects $1.2 trillion in overpayments over the next decade, based on an estimate from the Medicare Payment Advisory Commission (MedPAC), an independent agency that provides Congress with analysis and policy advice on the Medicare program.Medicare Advantage plans will be overpaid by roughly $76 billion in 2026. “If continued, we estimate this would translate to $1.2 trillion of overpayments through 2035,” the budget committee…

KEY TAKEAWAYS The Social Security Administration has been working to improve caller wait times, even as the staff has been reduced.But SSA workers say they are already overworked, and changes coming next month could make things worse. Get personalized, AI-powered answers built on 27+ years of trusted expertise. The Social Security Administration has significantly reduced wait times for beneficiaries calling its national 800-number over the past two years. Next month, the agency is making more changes to how it handles help requests that may speed things up—or make things worse for beneficiaries. Workflow management changes coming on March 7 will…

Key Takeaways Freddie Mac’s 30-year mortgage rate average fell to 5.98%, the first reading below 6% since September 2022.At that rate, a $350,000 loan would work out to $2,094 per month in principal and interest.Rates are the lowest in more than 3 years, making this a rare opportunity—but buying when you’re ready still matters most. Mortgage Rates Haven’t Been This Low in More Than 3 Years If you’ve been watching mortgage rates and waiting for a break, this week delivered one. The average rate on a 30-year fixed home loan has fallen below 6% for the first time in almost…

Have you received your retirement tax refund yet? You may soon. The IRS is reporting the average tax refund is $2,548 as of mid-February. And that number includes retiree refunds.Tax refunds may be higher for older adults because of the new “senior bonus” deduction introduced in the 2025 Trump tax bill. This tax break allows folks age 65 and older to deduct up to $6,000 per individual from taxable income. That can translate to hundreds of dollars in tax savings, depending on your income.And if you haven’t already thought of spending that money, now’s a great time to do it,…

It sounds great, no tax on overtime. But what does it really mean? The new tax break doesn’t totally eliminate taxes on overtime earnings, but if you qualify, it could mean more money in your pocket. The One Big Beautiful Bill Act (OBBBA) became law on July 4, 2025, and included several new tax breaks. One is a new deduction for overtime pay. The deduction is temporary, effective for tax years 2025 through 2028 for overtime pay under section 7 of the Fair Labor Standards Act (FLSA), affecting about 143 million people. Taxpayers can deduct some of the pay that…

’s results released last night exceeded expectations, and the company also delivered stronger-than-expected guidance for the coming quarters.The company reported a 73% increase in revenue for the fourth fiscal quarter, reaching $68.13 billion, above analysts’ expectations of $66.21 billion.It also issued an optimistic forecast, projecting revenue of $78 billion for the first fiscal quarter, well above analysts’ expectations of $72.6 billion.Investors had been concerned that the sharp increase in AI hardware spending was unsustainable, fueling fears of a bubble in the sector, but Nvidia’s results have helped ease those concerns.However, these positive results had been partly anticipated. Nvidia gained 1.41%…