The 10-year Treasury yield has risen steadily, pushing mortgage rates higher and sending stock prices into occasional tailspins. The current yield on the 10-term Treasury note is around 4.4 percent, a level that feels elevated compared to the near-zero rates investors enjoyed a few years ago. This volatility reflects uncertainty about where inflation and interest rates are heading in the economy. Investors are trying to price in everything from Federal Reserve policy decisions to government deficit spending to global economic growth. The Federal Reserve raised its benchmark interest rate eleven times between 2022 and 2023, marking the fastest tightening cycle in decades. The rise in Treasury yields has pushed mortgage rates above 7 percent, contributing to higher monthly payments and increased borrowing costs for homebuyers. The housing market has responded to these challenges, with rising interest rates creating a shortage of available inventory.