Good morning. Markets are shifting, inflation worries are back and everyday Americans are feeling the pinch. The good news? There are some surprising ways to protect your wallet and make smarter money moves today.
On The Money Today:
For the first time in years, mortgage rates are 6%. Here's why it won't last
Why you should never tell anyone you're retiring with $1 million
Denver grandpa got hit with a $46 tariff on a $67 hubcap — what went wrong
Let's get into it.
For the first time in years, 30-year fixed mortgage rates dipped below 6% — and homeowners who refinanced last quarter are already saving an average $248 a month. With 5.4 million borrowers now eligible, the opportunity is real. The window is open, but it won't be for long. Find out why rates may be set to climb up.
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Hitting $1 million is a milestone worth celebrating — just not out loud. Nearly 48% of people admit they'd ask a family member for money with zero intention of paying it back. Once word gets out, the dynamics shift fast. Here's the exact script to use when people start asking about your finances.
Paul Polak just wanted to fix his granddaughter's car. What he got was a crash course in America's chaotic tariff system — a $67 hubcap that came with $46 in surprise charges. His story isn't unique. Here's what you need to know before your next international purchase.
MORE FROM MONEYWISE
REAL ESTATE: A California family says a real estate investor forged documents and seized a piece of their property — one that's been in the family since 1931
LOANS: Her parents funded her college with a 529 plan — then sent her a $114,000 bill two years later. Here's what the Ramsey Show says she should do
ECONOMY: Robert Kiyosaki is warning the biggest stock market crash in history is already underway — and boomer retirement savings could be wiped out. What he says investors should do immediately
RETIREMENT: Nearly 1 in 6 seniors are quietly bankrolling their adult children — and it's putting their own retirement at serious risk. The hidden cost even financial experts miss
That’s it for today. See you soon with another quick roundup of the financial news that matters.