The twin impetus pushing the interest rate rise — stronger economic numbers and borrowing by the Treasury — have at last blown long-term rates to the next levels. The all-defining 10-year Treasury note was trading at 3.66 percent this morning (prior range: 3.28 percent to 3.51 percent, which held since early December), and there is nothing to stop it short of 4 percent, the April top in 2010.
The mortgage damage is similar, low-fee 30-year loans pushing 5.25 percent.
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