Mortgage rates surpass 5% for only the second time in the last decade

Based on the Mortgagenewsdaily.com tracker, mortgage rates are now at 5.02% for 30yr fixed rate mortgages.

This is the first time rates have surpassed 5% since they very briefly touched 5% in November of 2018 before immediately tanking for two years straight to 2.78%. Prior to that mortgage rates have not seen 5% since 2011.

With the last inflation print at 7.9% and the next print likely to be over 10% (first report to include the recent oil spike), I believe it is very likely rates remain elevated for at least a few months.

Edit: Why was this post locked and another identical post made afterwards stickied to the frontpage??