I was buying my first house. Dad, a veteran of 30 years of home ownership, and other RE he did all the work on and rented out, had a lot of data about lending. To my indication of some sort about the cost of borrowing, he had words to the effect of “this is still historically low” as my rate had bumped up a bit from when I was looking to when I closed.

There are a lot of headlines about the 30 year yield. It broke a 19 year record and hit a new high. No wait! Make that. 22 year high! Much hand wringing.

To that I say, it can go a whole lot higher. And has, within many of our lifetimes. Here’s all the data - St. Louis Fed (FRED): Market Yield on U.S. Treasury Securities at 30-Year Constant Maturity, Quoted on an Investment Basis (DGS30) | FRED

Could be a rough path ahead. Also, as none of us have an iota of influence over these factors, it is all a fine and ongoing test of one’s emotional detachment from financial decisions, and what we used to call in the Army, a “character building experience.”

I think I have enough character, but we might all be getting more.