Consumer News: Mortgage rates climb once again, key measure of inflation reaches level not seen in 40 years

Consumer News with ABC Columbia is brought to you by Grow Financial.

CNN– Mortgage rates are on the rise, just ahead of the busy spring real estate market. Mortgage company Freddie Mac says the 30-year-fixed rate average is 3.85% this week. That’s up from 3.76% just last week. Analysts say the war in Ukraine is causing percentages to climb because of market instability and the the threat of supply shortages.

CNN– A key measure of inflation reached a level not seen in 40 years last month. That’s according to new data from the Bureau of Labor Statistics. Isabel Rosales has a closer look at what this means for American households already struggling with the high cost of living.