The yield curve plots what the US government pays to borrow for different lengths of time. Normally longer loans pay more. When short-term rates rise above long-term rates the curve is "inverted", which has come before most US recessions. Interest rates and the yield curve.
| Maturity | Yield | 1 day | 1 month ago | 1 year ago |
|---|---|---|---|---|
| 1 month | 4.01% | +2 bp | 3.79% | 4.18% |
| 3 month | 4.24% | +5 bp | 3.86% | 4.02% |
| 6 month | 4.34% | +3 bp | 3.95% | 3.82% |
| 1 year | 4.51% | +2 bp | 4.01% | 3.63% |
| 2 year | 4.87% | +2 bp | 4.17% | 3.57% |
| 3 year | 4.99% | +2 bp | 4.25% | 3.60% |
| 5 year | 5.03% | +4 bp | 4.35% | 3.70% |
| 7 year | 5.10% | +5 bp | 4.48% | 3.91% |
| 10 year | 5.18% | +7 bp | 4.64% | 4.16% |
| 20 year | 5.53% | +8 bp | 5.16% | 4.73% |
| 30 year | 5.47% | +7 bp | 5.17% | 4.76% |
| Rate | Latest | As of | 1 month ago | 1 year ago |
|---|---|---|---|---|
| Federal funds rate (effective) | 3.88% | Sep 24, 2026 | 3.63% | 4.09% |
| SOFR (overnight lending) | 3.88% | Sep 24, 2026 | 3.66% | 4.13% |
| Bank prime loan rate | 7.00% | Sep 21, 2026 | 6.75% | 7.25% |
| 30-year fixed mortgage | 7.03% | Sep 24, 2026 | 6.65% | 6.26% |
| 15-year fixed mortgage | 6.42% | Sep 24, 2026 | 5.95% | 5.41% |
| 10-year minus 2-year Treasury | 0.36 pts | Sep 25, 2026 | 0.47 pts | 0.54 pts |
| 10-year minus 3-month Treasury | 0.93 pts | Sep 25, 2026 | 0.81 pts | 0.14 pts |
| 10-year breakeven inflation | 2.34% | Sep 25, 2026 | 2.32% | 2.38% |
| 10-year real yield (TIPS) | 2.85% | Sep 24, 2026 | 2.32% | 1.78% |
| Investment-grade corporate spread | 0.79 pts | Sep 24, 2026 | 0.81 pts | 0.75 pts |
| High-yield corporate spread | 2.80 pts | Sep 24, 2026 | 2.70 pts | 2.70 pts |
A spread is the gap between two rates, in percentage points. Credit spreads show the extra yield investors want for lending to companies instead of the government; they widen when investors get nervous. Bonds and credit markets.
| Fund | Price | Change | % |
|---|---|---|---|
| Short-term Treasuries (1 to 3 years)SHY | 81.21 | +0.12 | +0.15% |
| Medium-term Treasuries (7 to 10 years)IEF | 90.00 | +0.31 | +0.35% |
| Long-term Treasuries (20+ years)TLT | 79.32 | -0.10 | -0.13% |
| Investment-grade corporate bondsLQD | 103.21 | +0.06 | +0.06% |
| High-yield corporate bondsHYG | 77.86 | -0.03 | -0.04% |
Bond prices move opposite to yields: when rates rise, existing bonds lose value, and long-term bonds lose the most. Closing price for Sep 25, 2026 from Polygon.io.
Rates from FRED, Federal Reserve Bank of St. Louis. Treasury yields are published each business day after the close.