Inflation just increased again. Here's what that could mean for mortgage interest rates.

A consistently rising inflation rate is likely to adversely impact mortgage interest rates. rawintanpin/Getty Images Another month, another report showing inflation surging . The inflation rate moved to 4.2% in May, the Bureau of Labor Statistics reported on Wednesday. That's up from the 3.8% it sat at in May and is now more than two full percentage points above the Federal Reserve's target 2% goal. It's also the highest the rate has been in more than three years, or since April 2023. …