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