Average Interest Rate on the National Debt Climbs to 3.35% in May

The average rate on U.S. interest-bearing debt rose to 3.353% in May, the highest since October 2025, as low-coupon debt refinances into higher market yields.

The average rate on U.S. interest-bearing debt rose to 3.353% in May, the highest since October 2025, as low-coupon debt refinances into higher market yields.