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

Why it matters locally: South Dakotans considering purchasing homes or refinancing existing mortgages will likely face higher interest rates as a direct result of the rise in Treasury bond yields, impacting housing affordability across the state. Farmers and small business owners in key industries may also experience increased costs for operating loans.

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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.