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

Why it matters locally: The increase in borrowing costs, particularly for mortgages, will affect North Dakotans looking to purchase homes or refinance existing loans. Volatility in global oil prices could also have an impact on the state's energy sector.

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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.