Peter Schiff, chief economist at Euro Pacific Asset Management, posted on X today, September 28, 2026, that rising Treasury yields are poised to significantly impact mortgage rates. Schiff observed, "The yield on the 10-year Treasury just hit 5.27%. It first hit 5% exactly two weeks ago. At this rate, the yield will hit 6% by Nov. 5, just two days after the midterm elections. By then the interest rate on a 30-year mortgage will be over 8%. That'll be a major issue for voters."
The 10-year Treasury yield has been a key focus for investors, with a recent post from Bloomberg journalist Joe Weisenthal confirming the yield rose 10 basis points on the day to 5.27%. This follows earlier reporting on the UK bond yields hitting 2007 peaks and a general rise in global bond yields, which has been flagged by digital asset voices as a key macro concern. The Kobeissi Letter also noted today that the US 10-Year Note Yield is now at a 19-year high.
Schiff's projection implies a substantial increase in borrowing costs for homeowners just ahead of the midterm elections, potentially making housing affordability a central issue for voters. His view highlights the direct link between government bond yields and consumer lending rates, suggesting that the Federal Reserve's stance on inflation and interest rates will continue to exert pressure on the broader economy.
