10-Year Treasury Yield Climbs to 4.98%, Nearing the 5% Threshold Again
As seen on the 24/7 Wall St. homepage on November 13, 2026.
The benchmark borrowing rate for mortgages, corporate debt and equity valuations is back within a whisker of 5%, erasing the brief autumn relief rally. Long-duration growth stocks and rate-sensitive housing names feel this first.
Continue ReadingShow less
The 10-year Treasury yield has climbed back to 4.98%, all but erasing the relief that borrowers and equity investors felt during the autumn pullback. Yields have ground steadily higher in recent weeks, and the market is camped at the doorstep of 5% once more.
That 5% mark carries real weight: mortgage rates are priced off the 10-year, so a sustained hold near this level keeps monthly payments elevated for home buyers and chokes off refinancing activity. Corporate treasurers rolling over debt face meaningfully higher interest expense, which flows directly into earnings.
Sponsored
For equity markets, the pressure falls hardest on long-duration growth stocks, whose valuations depend on discounting cash flows that are years or decades away, so near a 5% discount rate those distant cash flows are worth considerably less today. Rate-sensitive housing names face a double hit: higher financing costs for their customers and weaker demand for new inventory.
The yield briefly touched 5% before pulling back to 4.86%, a sign the market found sellers at that round number. Whether that resistance holds on a fresh approach at 4.98% is the central question for rates, and by extension, for equities and housing in the sessions ahead.