Cost of U.S. borrowing hits 5.34%, highest since 2002

America’s 10-year borrowing rate hit 5.34%, its highest since spring 2002, Reuters reported, then slipped to 5.237%, down 5.65 hundredths of a percentage point. Think of it as the price tag for long-term loans like mortgages and company borrowing. When it rises, loans cost more, but new savers lending to the government earn more.