10-year over 5% …

Investors pushed up the yield on the government’s benchmark note to over 5 percent on Thursday, its highest point in nearly four years and a signal that many borrowers will soon be paying more on mortgages and home equity loans.

Driven by a stronger economy and a nearly two-year money-tightening campaign by the Federal Reserve, the rising level of interest rates across the board is expected to have the biggest impact on people who took out home loans with low introductory interest rates that are set to adjust in line with market rates in the next few years.

The 10-year Treasury note, which crossed the 5 percent threshold yesterday for the first time since June 2002, serves as a touchstone for a variety of borrowers, from consumers to corporations and governments. But it is most closely tied to mortgages and is likely to play a role in slowing home price increases and curbing the home-buying frenzy in many parts of the country.

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