BIG trouble ahead if this doesn't stop...
US 10 yr yield rose to as high as 4.506pc overnight before falling to 4.471pc, still higher despite CPI coming in below estimates https://x.com/NorthstarCharts/status/1922297389546676469
Higher US 10 yr yields significantly influence US mortgage rate because mortgage-backed securities (MBS) need to keep pace with US Treasury yields to remain competitive for investors. MBS are bundles of home loans sold to investors.
And you see why keeping the lit on the US 10yr yield is all important.
Trump 2.0 tariffs are crippling the US housing market without its domestic audience understanding.