What does the new inflation surge mean for mortgage interest rates?

A consistently rising inflation rate will likely have multiple impacts on the mortgage interest rate climate. sakchai vongsasiripat/Getty Images Millions of Americans hoping for a decline in inflation received unwelcome news on Wednesday when the Bureau of Labor Statistics reported another surge in the rate in April. Now at 3.8%, the inflation rate ticked up from 3.3% in March and now sits at its highest point since May 2023. …