The 30-year Treasury bond just hit about 5.35% — its highest level since June 2007. Back when the iPhone was brand new and the housing bubble hadn’t popped yet.
Something big is happening in the bond market, and almost nobody outside of Wall Street has noticed.
The 10-year Treasury note, the one that quietly sets the price of your mortgage, closed around 4.96% today. That’s the highest since October 2023, and within a hair of 5% — a line the 10-year hasn’t crossed since 2007.
The two-year note is up around 4.5%, from about 3.5% at the start of the year. A full percentage point in nine months.
I’ve been writing about money since 1991, and I’ve…
Read the full article at MONEYTALKSNEWS.COM
