Treasury Yields Reach Two-Decade Highs, Raising Consumer Borrowing Costs

Why it matters locally: Higher Treasury yields will likely translate into increased mortgage rates for Utah residents, impacting housing affordability across the state. The volatility in global oil prices could also affect gasoline costs for consumers and businesses.

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Treasury bond yields reached two-decade highs, a development that translates into increased borrowing costs for consumers. This rise particularly affects the mortgage market. Simultaneously, international headlines concerning Iran have influenced global oil prices, introducing volatility to the market.