The yield on the 10-year U.S. Treasury note closed at 4.283% on Friday, March 13, 2026, a slight increase from the previous day’s close of 4.273%, according to data from CNBC. The yield had fluctuated throughout the day, reaching a high of 4.29% and a low of 4.234%.
The 10-year Treasury yield serves as a crucial benchmark for a wide range of interest rates, influencing borrowing costs for mortgages, corporate bonds and other loans. Recent volatility in the yield has been linked to ongoing concerns surrounding the war in Iran and its potential impact on global inflation, as well as revisions to fourth-quarter GDP figures.
Mortgage rates are particularly sensitive to movements in the 10-year Treasury yield. As of January 23, 2026, the average rate on a 30-year mortgage stood at 6.09%, according to Freddie Mac. Experts note that while the Federal Reserve’s decisions influence short-term lending rates, mortgage rates more closely track the 10-year Treasury yield.
The relationship between the 10-year Treasury yield and mortgage rates is not always direct, but a general correlation exists. When the 10-year Treasury yield rises, mortgage rates typically follow suit, and vice versa. This is because investors demand a higher return on long-term bonds, like the 10-year Treasury, when they anticipate higher inflation or economic growth. Mortgage lenders then pass these increased costs on to borrowers in the form of higher interest rates.
Recent economic data, including a weaker-than-expected jobs report and the disruption of oil prices due to the conflict in Iran, have contributed to the fluctuations in the 10-year Treasury yield. The impact of the war in Iran on affordability is a growing concern, particularly as the Federal Reserve prepares for its March meeting. JPMorgan’s head of global fixed income is reportedly adjusting investment strategies in response to these developments.
As of mid-March 2026, the price of the 10-year Treasury note was 98.7344, down from a previous close of 98.8125. The coupon rate for the bond is 4.125%, with a maturity date of February 15, 2036.
