At the January FOMC meeting, the Federal Reserve held its key interest rate steady in a range between 3.5% and 3.75%. That comes after the Fed lowered the federal funds rate 3 times in 2025, pushing down short-term rates. Meanwhile, longer-term rates have been moving in the other direction. Since mid-October, yields for the benchmark 10-year US Treasury note and 30-year US Treasury bond have climbed. Among other effects, rising longer-term yields can increase borrowing costs on mortgages, corporate debt, and a range of other loans.
Source: FactSet, as of January 28, 2026.