Data posted Thursday put the 10-year Treasury yield at 5.18%, up 7 basis points from Wednesday and the largest move in this reading, while the 2-year yield added 2 basis points to reach 4.87% and mortgage rates held at last week's level.

This reading's Sept. 23-24 window contains two sets of confirmed calendar items, documented by the issuing agencies without any claim about their effect on yields. Treasury's official auction schedule shows a 5-year note and a reopened 2-year floating-rate note sold Wednesday, Sept. 23, plus a 7-year note sold Thursday, Sept. 24, overlapping the same two-day span as the yield levels below. BLS's release calendar shows only two items landed in that span, both on Sept. 24: the biennial Employee Tenure survey and the Job Flexibilities and Work Schedules supplement, neither of which is among the monthly inflation or employment reports markets typically react to (BLS data retrieved Sept. 25, 2026; BLS does not warrant analysis performed on its data after release). The Fed's own meeting calendar confirms no FOMC meeting fell in the window either -- the Committee's Sept. 15-16 decision is a week behind, minutes from that meeting are due Oct. 7, and the next meeting is Oct. 27-28. None of this is offered as a reason for the yield move; it only documents that the dates overlap.

Both Treasury readings come from the Fed's H.15 series: the 10-year yield closed Thursday, Sept. 24, at 5.18%, seven basis points above Wednesday's 5.11%, and the 2-year yield closed at 4.87%, two basis points above 4.85%. The mortgage figures shown alongside them are unchanged from the prior reading -- Freddie Mac's Primary Mortgage Market Survey still shows 7.03% for the 30-year fixed average and 6.42% for the 15-year fixed average, both dated to the survey week ended Sept. 24; Freddie Mac's next weekly update is due Oct. 1. What a given borrower is actually offered still depends on credit profile, loan term and lender.

Subtracting the 2-year Treasury yield from the 10-year -- a rough read on the yield curve's slope -- leaves a spread of 0.31 percentage points, 5 basis points wider than the prior session, the mechanical result of Thursday's larger move in the 10-year. The distance between the 30-year mortgage average and the 10-year Treasury yield -- one way of sizing how much extra homebuyers currently pay relative to what the government pays to borrow long-term -- came in at 1.85 percentage points; because the mortgage figure did not move this week, that change also traces back to the Treasury side rather than any new mortgage-market development. Neither figure is presented here as evidence of a specific cause.

What to watch next: The next scheduled items likely to move these figures are Freddie Mac's weekly survey release on Thursday, Oct. 1; the Fed's daily H.15 update, posted each business day; minutes from the Fed's Sept. 15-16 meeting, due Oct. 7; and the FOMC's next meeting, set for Oct. 27-28.