Government Borrowing Costs Rise as Oil Hits $100 a Barrel

The 10-year Treasury yield — a key rate that influences mortgages — broke above 4.7% on July 23, 2026, its highest since January (CNBC). Brent crude oil settled at $100.69 per barrel (Washington Post) after Houthi attacks on two Saudi tankers in the Red Sea (Reuters). When oil spikes, inflation fears rise, pushing borrowing costs — and mortgage rates — higher.