Bond yields haven't been this high since 2019, sending your loan rates higher
CNN
The 10-year US Treasury bond yield touched 2% for the first time since the summer of 2019 Thursday, after a key inflation figure rose to its highest level in nearly 40 years.
Although bond rates remain historically low, rising yields have sent loan interest rates, including mortgages, credit cards and other personal rates, higher in recent months. Mortgage rates jumped last week -- the 30-year fixed rate mortgage averaged 3.69%, the highest level since January 2020.
As inflation rises, expect bond rates to continue. The bond market often tracks expectations for the Fed funds rate, which is forecast to rise several times in 2022. The Federal Reserve — which is tasked with keeping prices stable — already signaled last month that it wants to raise interest rates to counteract high inflation.
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