The Daily Money 08-10-20

Welcome to Monday, Daily Money readers. Hope you had a restful weekend. It's Brett Molina back with Money and Tech headlines to start your week.

The COVID-19 pandemic and economic anxiety that comes with it has prompted Americans to save more money. In April, the portion of monthly income that went to savings hit a record 33.5%, Commerce Department figures show. Although it's declined since then, the savings rate hit 19% in June. That's still significant considering the savings rate before the pandemic was 7.5% of income.

College students aren't typically known to have lots of money under normal circumstances. But as the pandemic rages, students face an even greater strain on their finances.

Finally, mortgage rates remain at historic lows. Here's how to tell whether you are ready to refinance.

Want more Money and Tech headlines? Keep scrolling.

Brett Molina, Money/Tech editor