30-Year Treasury Yield Briefly Surpasses 5% for First Time Since Late 2023

The 30-year Treasury yield briefly surged above 5% for the first time since late 2023, driven by a combination of strong economic data, persistent inflation concerns, political uncertainty, and global bond market selloffs. This temporary spike in yields had significant implications for mortgage rates and the housing market, as well as potential long-term implications for the economy.