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

MoneyWatch: Managing Your Money Inflation just increased again. Here's what that could mean for mortgage interest rates. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson June 10, 2026 / 9:49 AM EDT / CBS News Add CBS News on Google 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. For context, the rate in February was just 2.4%. Not only does this surge underline what millions of Americans are already experiencing when food shopping or purchasing gas for their vehicles, but it will also impact borrowing costs across products and lenders. That's especially true in the mortgage interest rate environment. Borrowers looking to buy a home this spring or refinance their current one have already been contending with rates substantially higher than what was available earlier in 2026 and late in 2025. But what will this new inflation spike mean for them, and what should they do in response? That's what we'll examine below.Start by seeing which mortgage interest rate you currently qualify for here.What the inflation surge could mean for mortgage interest ratesI...