Average interest rate
Total Interest-bearing Debt
The weighted-average interest rate the U.S. Treasury pays across every interest-bearing security it has outstanding — the single best summary of the government’s cost of borrowing.
Latest (Aug 2026)
3.49%
▲ +0.043 pp MoM
Year-over-year
▲ +0.118 pp
vs. Aug 2025
13-year low
1.56%
Jan 2022
13-year high
3.49%
Aug 2026
This is an average, not today's rate. For what the Treasury is issuing at today rather than what it pays on average, see today's yield curve — 4.96% on the 10-year.
Total Interest-bearing Debt — average rate history
Monthly, Jan 2013 – Aug 2026.
Download: rates-total-interest-bearing-debt.csv · CSV · public domain
Last 24 months
| Month | Avg. rate | MoM |
|---|---|---|
| Aug 2026 | 3.490% | ▲ +0.043 pp |
| Jul 2026 | 3.447% | ▲ +0.038 pp |
| Jun 2026 | 3.409% | ▲ +0.056 pp |
| May 2026 | 3.353% | ▲ +0.013 pp |
| Apr 2026 | 3.340% | ▲ +0.013 pp |
| Mar 2026 | 3.327% | ▲ +0.007 pp |
| Feb 2026 | 3.320% | ▲ +0.004 pp |
| Jan 2026 | 3.316% | ▼ -0.008 pp |
| Dec 2025 | 3.324% | ▼ -0.024 pp |
| Nov 2025 | 3.348% | ▼ -0.007 pp |
| Oct 2025 | 3.355% | ▼ -0.008 pp |
| Sep 2025 | 3.363% | ▼ -0.009 pp |
| Aug 2025 | 3.372% | ▲ +0.020 pp |
| Jul 2025 | 3.352% | ▲ +0.048 pp |
| Jun 2025 | 3.304% | ▲ +0.010 pp |
| May 2025 | 3.294% | ▲ +0.005 pp |
| Apr 2025 | 3.289% | ▲ +0.005 pp |
| Mar 2025 | 3.284% | ▲ +0.002 pp |
| Feb 2025 | 3.282% | ■ no change |
| Jan 2025 | 3.282% | ▲ +0.002 pp |
| Dec 2024 | 3.280% | ▼ -0.018 pp |
| Nov 2024 | 3.298% | ▼ -0.004 pp |
| Oct 2024 | 3.302% | ▼ -0.022 pp |
| Sep 2024 | 3.324% | — |