Buckle up for a sustained rise in interest rates: analysis

10-year Treasury note has nearly doubled in 18 months. If it breaks 3%, expect mortgages to hit 5%.

The question now is when will the 10-year break through 3.00% going higher, putting that number “five” back into the mortgage vocabulary for the first sustained time since the Great Recession. Market consensus (of course, often wrong): “when,” not whether.