The 10 Year Treasury Yield Just Hit 5%-Here's Why It Matters To You
I want to talk about a number today that probably doesn't mean much to the average American:
5%.
Today, the yield on the 10-year U.S. Treasury crossed 5%, reaching its highest level since 2007.
At the same time, according to Mortgage News Daily, the average top-tier 30-year fixed mortgage climbed to 7.22%.
And tomorrow afternoon, the Federal Reserve concludes its two-day meeting, with financial markets overwhelmingly expecting another quarter-point increase in the federal funds rate.
Those may sound like three separate stories.
They're not.
They're all connected.
Something has changed in the…
The skinny
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