Real estate investors worry that interest rates may stay 'higher for longer'

Real estate (and other) investors have focused on the seemingly unusual run-up in U.S. Treasury bond yields over the past few months. The benchmark 10-year Treasury bond yield, for example, increased from 3.68% in September to nearly 4.8% at the beginning of January. What makes this especially unusual is that the increase in bond yields occurred during a period when the Federal Reserve cut its key policy rate twice.