MoneyWatch

Well-heeled home shoppers are increasingly paying cash, helping turbocharge price gains for the most expensive U.S. homes. The median sale price of luxury homes — valued in the top 5% of the market nationally — hit an all-time high $1.23 million in the first quarter, an increase of 8.7% from the same period last year, according to an analysis by …

Debt is often stressful. After all, life comes with plenty of expenses. And when you use credit to address those expenses, they typically become larger as a result of interest and finance charges. If left unchecked, growing debt can lead to financial hardship. That’s especially true in today’s economic environment, in which high interest rates have become the norm. But, …

Gold prices have been on a rollercoaster ride in recent weeks, reflecting the economic uncertainties and inflationary pressures that have been gripping the nation. The precious metal saw its value surge to record highs, skyrocketing from about $1,990 per ounce in mid-February to a then-record high of $2,160 per ounce in late March. That uptick in gold prices continued, with …

Donald Trump is about to see his fortune grow by $1.2 billion. The former U.S. president is set to receive a so-called earnout bonus of 36 million shares in his newly public company, Trump Media & Technology Group, as part of an incentive that was created for the company’s public market debut in March, according to a regulatory filing. For …

American Airlines is relaxing part of its pet policy to let owners bring their animal companion and a full-size carry-on bag into the cabin. Until this week, people who carried a pet into the cabin, which involves paying a $150 fee, could only have one other small item that fit under the seat. Anything bigger, like a carry-on bag with …

The recall of red yeast products linked to at least five deaths in Japan may have Americans questioning the safety of a range of dietary supplements containing the ingredient and readily found online and in stores. Billed as a natural means of lowering cholesterol, the products recalled by Kobayashi Pharmaceutical Co. contain benikoji, an ingredient derived from a species of …

Most California fast-food workers are now earning at least $20 an hour — the highest minimum wage across the U.S. restaurant industry. Yet the pay hike, which went into effect on April 1, is sparking furious debate, with some restaurant owners warning of job losses and higher prices for customers, while labor advocates tout the benefits of higher wages. The …

Credit card debt can be expensive. Depending on how high your credit card debt is, you could end up paying thousands of dollars in interest on what you owe — and thepay-off process could take decades. And, right now, your credit card debt could be costing you more than it has in the past. The federal funds rate is currentlypaused …

March is drawing to an end and spring is in full swing. While the season change may provide a breath of fresh air, it may also come with new expenses. If you need to make home repairs, cover the cost of a wedding or pay for a wide range of potential expenses, you may be looking for the most affordable …

With the Federal Reserve once again holding rates steady following its March meeting, savers have a continued opportunity to benefit from high interest rates on certificates of deposit (CD) accounts. In today’s environment, savers can find CDs paying above a 5% annual percentage yield (APY). However, the Fed still foresees three rate cuts happening later this year, and that could …