10-Year Treasury Yield Hits Highest Level Since 2007

Source Summary

The 10-year U.S. Treasury bond yield reached 5.041 percent on Tuesday morning, its highest intraday level since July 2007, before the 2008 financial crisis. The note closed above 5 percent, signaling increased borrowing costs for millions of Americans.

Why it matters

Higher Treasury yields increase borrowing costs across the economy, affecting mortgage rates, credit card rates, and other consumer and business financing.