Treasury yields tick up
The Hill · C · trust 51/100
The yield on the U.S. 30-year Treasury bond surpassed 5.3 percent on Tuesday before a slight downtick, foreshadowing an increase in borrowing costs across the country.
© Julia Demaree Nikhinson, The Associated Press
The 30-year bond yield is 5.284 percent as of Tuesday afternoon, after opening at 5.308 percent and peaking at 5.337 percent earlier in the day.
That marked the highest yield for 30-year Treasury bonds since April 2007 , when yields reached 5.44 percent.
After falling by two-tenths of a percentage point from the start of this year to late February, around the start of the Iran war, the 30-year bond yield has persistently increased.
Meanwhile, a poll published in early July suggested a vast majority of Americans believe they are living through an affordability crisis.
The increase in bond yields is pushing mortgage rates up even further, with the average 30-year fixed mortgage rate at 6.75 percent as of Tuesday, according to Mortgage News Daily.
Though the percentage is still below the five-year peak of 8 percent, reached in October 2023.
Increasing bond yields also create higher borrowing costs for other products, such as rates on credit cards and auto loans.
The Hill’s Max Rego has more here .
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