Good morning! As you start your day, 10 News is here to break down the biggest financial stories in CNN’s Money Matters. From mortgage rate increases and Kool-Aid’s new electrolyte drink mix to soccer balls that can hold beers (yes, you read that right), we’ll cover what’s impacting your wallet and what you need to know to stay informed.
How is inflation impacting mortgage rates?
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Mortgage rates have jumped to their highest level since March, with the average rate on the popular 30-year fixed mortgage rising to 6.46%. However, this isn’t stopping homebuyers, as new mortgage applications continue to increase.
Data show that purchase applications spiked 4% on an adjusted basis, while refinance activity again declined 1% week over week compared with the prior week. Refinance applications are also 28% higher right now than they were this time a year ago.
This mortgage rate increase comes on the heels of an inflation surge of 3.8% from April 2025, the biggest jump in three years, according to the Labor Department’s consumer price index.
Kool-Aid has a new sugar-free mix
Kool-Aid is getting a healthier makeover.
Food & Wine reports the brand is launching electrolyte drink packets with no artificial dyes or sugar.
The move is part of Kraft Heinz’s broader push to phase out synthetic colors by the end of next year.
Food companies increasingly are reworking products as shoppers pay closer attention to labels.
Miller Lite takes soccer fandom to the next level
Miller Lite is giving fans a cool way to bring their beer to World Cup viewing parties.
It’s launching an MVP soccer ball large enough to fit 12 cans and an ice pack or two.
The promo celebrates the coming kickoff of FIFA World Cup action next month.
The U.S., Canada, and Mexico will share host country duties for the games.
The ball costs $19.75 and will be available on shop.millerlite.com/collections/matchball for a limited time starting May 20.
The price is a nod to the beer’s founding in 1975.