What the new inflation spike could mean for mortgage interest rates

MoneyWatch: Managing Your Money What the new inflation spike 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 April 10, 2026 / 3:44 PM EDT / CBS News Add CBS News on Google With inflation surging again, the costs of homebuying and refinancing are likely to rise once more. taylanibrahim/Getty Images While monitoring the Federal Reserve and its interest rate policy is an integral part of the homebuying and refinancing process, it's not the only thing borrowers should consider. Mortgage interest rates, after all, are driven by a complex combination of factors, some of which can negate each other and others of which can cause rates to spike or decline. And one of the more significant ones was revealed on Friday morning. Unfortunately, it wasn't the news borrowers were hoping for.Inflation in March surged to 3.3%, the highest rate in around two years, a new report from the Bureau of Labor Statistics revealed. This puts the rate around a point and a half above the Federal Reserve's target 2% goal, and it could have widespread ramifications, particularly for homebuyers and owners hoping to finally refinance. And while dissecting the short and long-term impact of a single inflation report can be difficult to do with precision, there are some items borrowers should consider now. Start by seeing how low your current mortgage rate offers are here.What the new inflation spike could mean for mortgage interest ratesAn inflation rate increase like the one re...