Author: Money Mechanics

Key Takeaways It took the typical American seven years to save for the median down payment for a house, down from the peak a few years ago but still above pre-pandemic levels.Down payments have gotten higher amid rising home prices, while a slower savings rate is also extending the time it takes to save for a house.It can take decades to save for a down payment in high-cost markets like San Francisco, while it may only take a few years in other markets. For most Americans, saving enough for a down payment takes years. But today’s buyers are reaching that…

Gold futures topped $4,636 on COMEX this week while silver breached $90 for the first time, extending a precious metals rally that shows no signs of slowing down. The twin surges come amid a perfect storm of geopolitical flashpoints, concerns over Federal Reserve independence, and a structural supply squeeze in the silver market that has fund managers increasingly confident both metals will hit milestone targets before mid-year. Gold has gained roughly 7% in 2026 alone, building on last year’s 64% advance—the best annual performance since 1979.   Silver? Even more dramatic, up 29% year-to-date after doubling in 2025. Here’s what’s…

For many residents in Kansas, debt problems don’t rise overnight. Credit cards pile up, medical bills linger, and short-term loans often stretch into long-term obligations. When monthly payments start competing with groceries, choosing the right Kansas debt relief program becomes essential. Solutions like New Era Debt Solutions, National Debt Relief, and Freedom Debt Relief offer residents options to reduce balances, reorganize repayment, or access legal guidance, helping Kansans take control of their finances before debts spiral further. Locals face numerous debt levels, with an average person carrying almost $45,300 in total debt, which includes mortgages, student loans, credit cards, and…

House hunters are getting some relief as mortgage rates dip. The median U.S. monthly housing payment dipped to $2,413 during the four weeks ending January 11, near the lowest level in two years and down 5.5% from a year earlier. That’s the biggest decline since October 2024.  Housing payments are coming down because mortgage rates are falling. The daily average mortgage rate dropped to 5.99% last week, its lowest level in nearly three years, after President Trump ordered federal agencies to buy $200 billion in mortgage bonds (the daily average rate has since ticked up to 6.07%). To look at…

If you’ve been following the billionaire exodus from California with some confusion, here’s what’s actually driving the nervousness: it’s not the 5% rate. As highlighted Friday in the New York Post, the proposed wealth tax would hit founders on their voting shares rather than the actual equity they own. Take Larry Page, who about 3% of Google but controls roughly 30% of its voting power through dual-class stock. Under this proposal, he’d owe taxes on that 30%. For a company valued in the hundreds of billions, that’s a lot more than a rounding error. The Post reports that one SpaceX…

Wells Fargo & Company (NYSE:WFC) is among the most profitable US stocks to buy. On January 7, BofA Securities increased its price target on Wells Fargo & Company (NYSE:WFC) to $107 from $100 with an unchanged ‘Buy’ rating on the stock. Ebrahim Poonawala, an analyst at the firm, pointed out that the company’s current valuation is discounted relative to its peers, offering an attractive risk/reward profile. BofA Securities suggested this valuation gap could narrow in the times ahead if the company’s management achieves superior revenue growth, backed by massive franchise investments already made, while maintaining profitability. The firm also highlighted…

Good morning and thank you for the invitation to join you today.1 It is a pleasure to be with you here in Boston at the New England Economic Forum to share my outlook on the economy and monetary policy, and I would like to thank Kathleen Murphy, the CEO of the Massachusetts Bankers Association, for inviting me to speak at your first economic forum. I am also grateful for the kind introduction from Susan Collins. I greatly value her perspective, and I appreciate the opportunity to work closely with her as president of the Federal Reserve Bank of Boston and…

Timothy Ellsberry, an Atlanta-based custom homebuilder, is impressed with Home Depot’s latest AI-infused efforts to attract professionals. Ellsberry joined Home Depot’s Pro program in late 2024. He told CNBC that he has reviewed but not yet adopted the company’s expanding digital tools suite — including AI-powered BluePrint Takeoffs , which launched back in November. The tool quickly generates takeoffs — or complete material and resource lists needed to draw up project quotes — and seamlessly allows contractors to directly buy everything from Home Depot. “As they build their program, I could see myself shifting away from the CRM [customer relationship…

(Oil Price) – U.S. President Donald Trump is taking action to protect American consumers from soaring electricity bills with plans to direct the biggest U.S. grid operator, PJM, hold an emergency power auction in which Big Tech would bid for power supply for their new data centers and effectively pay for new power plants. President Trump and governors of several U.S. states, including the data-center hotpots Virginia, Pennsylvania, and Ohio, are expected to announce the plan later on Friday, Bloomberg reports. Under the plan, PJM Interconnection will be directed to hold an emergency auction for the hyperscalers who will bid on 15-year contracts for…

From the second week of January, prices were driven more by where money was flowing than by daily headlines. staying under control in the US helped support risk-taking, but strong pushed expectations for further out, leading to a brief pullback in risk assets. That pause did not last long. Strong inflows into spot Bitcoin ETFs and renewed institutional buying, including purchases by , helped buyers regain control later in the week. Together with this, Bitcoin has been testing the same sideways price range it has traded in since November. As a result, the area around $95,000 has become the key…