The 10-year Treasury note yield reached 4.14%. It has been rising as the Federal Reserve interest rate has been rising too.
The 10-year Treasury note yield is an important marker for the economy performance. In usual circumstances, if the economy is strong, investors tend to be more aggressive in other "less safe" investments. As a consequence of that, the demand for the Treasury notes decreases, its price decreases and the yield increases. On the other hand, if the economy softens, investors look for safe investment vehicles, the demand of the Treasury notes increases, its price increases and its yield decreases.
However, the interest rates also have an impact on the Treasury note yields. If the Federal Reserve rises its rate, the Treasury note yields will increase too.
The interest rate of the Treasury note impacts loans, specially mortgages.
Source of graph
For further information, read this article
It is still far less than the official inflation rate and much much less than real inflation rate
Mortgages rates are about 7% now