Story perspectives

Bessent Announces Market Intervention as Yields Hit 4.80%

9/3/2026

Summary

Bessent Intervenes

Treasury Secretary Scott Bessent announced an unusual market intervention to curb rising yields.
U.S. Treasury yields climbed to 4.80%, the highest level since early 2025.
Five-year Treasury yields reached 4.55%, the highest since October 2025.
Fed Chair Kevin Warsh warned a short-term rate hike may be needed if inflation stays high.
Japan, Australia, Germany and the UK saw 10-year bond yields break multi-decade records.

Summary

Price Mortgage Cuts Fees

Price Mortgage, LLC introduced a Zero Lender Fees policy that eliminates underwriting, processing, and application charges.
The policy saves homebuyers an average of $1,500 in upfront cash at closing.
Price Mortgage leverages over 125 wholesale lenders to pass wholesale interest rates directly to consumers.
The firm offers FHA, VA, and ITIN mortgage programs, expanding options for diverse borrowers.

History

Historical Context

In September 2008, the U.S. Treasury and Federal Reserve launched the $700 billion Troubled Asset Relief Program (TARP) to stabilize soaring bond yields. Treasury Secretary Henry Paulson, alongside Fed Chair Ben Bernanke, injected $250 billion into the market, pulling the 10-year Treasury yield from 5.2% to 3.8% within weeks. Today, Treasury Secretary Scott Bessent’s yield-curbing intervention and Price Mortgage’s zero-fee model echo 2008’s emergency measures aimed at easing credit costs for borrowers. These actions suggest policymakers will continue deploying large-scale fiscal tools and fee-waiver strategies to temper borrowing expenses and sustain housing demand.

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Bessent Intervenes

Treasury Secretary Scott Bessent announced an unusual market intervention to curb rising yields.
U.S. Treasury yields climbed to 4.80%, the highest level since early 2025.
Five-year Treasury yields reached 4.55%, the highest since October 2025.
Fed Chair Kevin Warsh warned a short-term rate hike may be needed if inflation stays high.
Japan, Australia, Germany and the UK saw 10-year bond yields break multi-decade records.

1 / 3