Investors and those following the movement of interest rates look at the movement of Treasury yields as an indicator of things to come. Their rates are considered an important benchmark: Because Treasury securities are backed by the full faith and credit of the U.S. Treasury, they represent the rate at which investment is considered risk-free.

Click on the links below to find a fuller explanation of the term.

Treasury securities Updated: 04/01/2020
This week Month ago Year ago
One-Year Treasury Constant Maturity 0.17 0.73 2.41
91-day T-bill auction avg disc rate 0.09 1.16 2.38
182-day T-bill auction avg disc rate 0.10 1.01 2.38
Two-Year Treasury Constant Maturity 0.23 0.71 2.30
Five-Year Treasury Constant Maturity 0.37 0.77 2.28
Ten-Year Treasury Constant Maturity 0.70 1.02 2.48
One-Year CMT (Monthly) 1.41 1.41 2.49
One-Year MTA 1.87 1.97 2.48

Ratings methodology

Since investors in riskier investments command a higher return as compensation, the yields on many bonds and money market instruments are priced at a spread over the corresponding risk-free Treasury rate. Yields on money markets and certificates of deposit are often priced relative to yields on Treasuries of a similar length. Adjustable rate mortgages can be indexed to the one-year Treasury. Fixed mortgage rates are closely linked to movements in long-term Treasury yields, as mortgages are often packaged together and sold as mortgage-backed bonds. Yields on short-term Treasuries can behave differently from yields on longer-term Treasuries.

Compare mortgage rates