The financial news that actually matters
Homeowners sitting on record equity face a steep price to access it: a home equity line of credit now carries an annual percentage rate near 8.5%, driven by a bank prime loan rate that stands at 6.75% as of June 16, 2026. For a borrower with a 700 FICO score, an 80% loan-to-value ratio, and…
Roughly 73 million Americans who collect Social Security could receive a 4.7 percent cost-of-living adjustment for 2027, a figure that would rank as the fourth-largest increase in 36 years. The projected bump traces directly to a sharp run-up in gasoline and energy prices recorded through May 2026, which feeds into the Consumer Price Index for…
Scammers posing as federal employees are calling Americans, claiming their bank accounts are compromised, and directing them to wire money to so-called safe accounts held at the Federal Reserve or other government entities. Every major federal agency involved in consumer protection has now issued the same warning: no legitimate government office will ever phone someone…
Americans born in 1951 who hold traditional IRAs or workplace retirement plans face a 25% excise tax on any required minimum distribution they fail to withdraw on time. That penalty, set by Section 302 of the SECURE 2.0 Act, replaced the old 50% rate but still represents a steep hit to savings that can run…
American households are paying sharply more for everyday essentials after consumer prices rose 4.2% over the year ending in May 2026, the fastest annual pace in three years. Gasoline prices drove the bulk of that acceleration, climbing more than 40% compared with a year earlier. The monthly increase alone was 0.5%, with fuel and shelter…
Savers planning for retirement just got a modest but meaningful boost. The IRS set the 2026 individual retirement account contribution limit at $7,500, up from $7,000 in 2025. Workers aged 50 and older can contribute an additional $1,100 in catch-up funds, a $100 increase over the prior year’s $1,000 allowance. The changes, driven by the…
Medicare beneficiaries across the country face a standard Part B premium of $202.90 per month in 2026, a $17.90 jump from the prior year’s $185.00. For higher earners, the bill climbs sharply: those in the top income bracket owe up to $689.90 each month. The gap between what most enrollees pay and what wealthier retirees…
Federal student-loan borrowers earning the least will soon owe as little as $10 a month under the Repayment Assistance Plan, a new income-driven repayment option that takes effect July 1, 2026. RAP, created by the FY2025 reconciliation law signed on July 4, 2025, replaces all prior income-driven repayment plans for anyone taking out new Direct…
Millions of Medicare Part D enrollees will face a new financial ceiling in 2026: once their out-of-pocket spending on covered prescription drugs reaches $2,100 for the year, they owe nothing more. The cap, created through the Inflation Reduction Act’s redesign of the Part D benefit structure, eliminates cost-sharing in the catastrophic coverage phase for the…
Home buyers across the United States are gaining ground this spring as the number of properties available for sale climbs sharply compared with a year ago. Active listings have jumped 23% year over year, according to Realtor.com data, while homes are taking longer to sell in many metro areas. The shift is giving buyers room…