Today in Markets & Money: “Mortgages Still Brutal” 🏡

🏷️ Inflation & Rates

CPI is at 322.13 (core 328.66), PCE at 126.78. Inflation is steady around 2.7% annually. The Fed Funds Rate? Still 4.33%, which means borrowing costs aren’t coming down anytime soon.

🏡 Mortgages & Housing

The 30-year fixed mortgage is 6.56%, a painful spread above the 10-year Treasury at 4.22%. Translation: lenders are keeping mortgages pricey, and housing affordability is still in the gutter. Demand is cooling, but not enough to bring prices back to Earth.

💸 What this means for you:
If you locked in pre-2022, keep bragging. If you’re buying now, your monthly payment will feel like a Whole Foods grocery run.

💳 Debt & Credit

Credit cards and HELOCs move with the Fed — which means with rates stuck at 4.33%, you’re still paying through the nose if you’re carrying balances. “Buy now, pay later” is basically “buy now, regret forever.”

💸 What this means for you:
If you’ve got high-interest debt, it’s not getting cheaper anytime soon. Waiting for Fed cuts isn’t a strategy.

📈 Stocks (Quick Hit)

The S&P 500 is at 645.05, down -0.59% today but still up 17% year-over-year. Investors are shrugging off high mortgage rates — housing pain hasn’t hit the broader market (yet).

🧾 Bottom Line

Housing affordability is still rough, credit is expensive, and the Fed isn’t blinking. The good news? Inflation is tame. The bad news? You’re paying extra for it in every loan.

💡 Money Move of the Day

If you’ve got debt north of 7–10%, pay it down before chasing investment gains. But if your debt is lower than 5%, putting extra cash into Treasuries or the market could actually leave you ahead.

👋 This is the kind of everyday tradeoff Ask Linc — an AI investing app — was built to handle. It pulls in your real accounts + today’s market context and answers:

👉 “Should I pay off debt faster, or invest instead?” Find out at asklinc.com