Live Federal Reserve rates, FOMC decisions, speeches, and Treasury data, with every figure copied from the agency that published it.
Treasury data
Average Interest Rates on Treasury Securities
The average interest rate on all marketable Treasury securities was 3.518% for the month ended Sep 30, 2026, with bills at 3.870%, notes at 3.383%, and bonds at 3.466%, according to the U.S. Treasury (Fiscal Data).
What the Treasury is paying, on average, on the bills, notes, and bonds it has outstanding, copied from Fiscal Data, with the monthly history and a plain-English guide.
All marketable3.518%Month ended Sep 30, 2026 ▲ Higher than the previous print
Treasury bills3.870%▲ Higher than the previous print
Treasury notes3.383%▲ Higher than the previous print
Treasury bonds3.466%▲ Higher than the previous print
Average Treasury interest rates over time
Average interest rate on Treasury securities
Monthly, percent, as Treasury publishes it. Each line is the average rate on all securities of that type still outstanding, not the rate on a new auction.
Average interest rate in percent, the last month-end record of each calendar year (a sample of the plotted lines)
As of
Bills
Notes
Bonds
All marketable
Dec 31, 2001
2.397%
5.610%
8.283%
5.283%
Dec 31, 2002
1.470%
4.556%
8.255%
4.373%
Dec 31, 2003
0.987%
3.755%
8.154%
3.729%
Dec 31, 2004
2.050%
3.510%
8.001%
3.703%
Dec 31, 2005
3.946%
3.814%
7.854%
4.397%
Dec 31, 2006
5.085%
4.265%
7.602%
4.917%
Dec 31, 2007
3.917%
4.392%
7.361%
4.685%
Dec 31, 2008
1.082%
3.802%
7.038%
3.207%
Dec 31, 2009
0.237%
2.892%
6.395%
2.559%
Dec 31, 2010
0.192%
2.473%
5.992%
2.365%
Dec 31, 2011
0.069%
2.234%
5.654%
2.274%
Dec 31, 2012
0.127%
1.920%
5.275%
2.043%
Dec 31, 2013
0.083%
1.805%
5.063%
1.975%
Dec 31, 2014
0.063%
1.808%
4.883%
2.013%
Dec 31, 2015
0.235%
1.840%
4.615%
2.041%
Dec 31, 2016
0.504%
1.788%
4.362%
1.986%
Dec 31, 2017
1.248%
1.854%
4.180%
2.126%
Dec 31, 2018
2.368%
2.103%
4.055%
2.455%
Dec 31, 2019
1.761%
2.148%
3.852%
2.360%
Dec 31, 2020
0.121%
1.728%
3.377%
1.552%
Dec 31, 2021
0.071%
1.401%
3.028%
1.432%
Dec 31, 2022
3.891%
1.697%
3.014%
2.320%
Dec 31, 2023
5.437%
2.272%
3.092%
3.174%
Dec 31, 2024
4.586%
2.851%
3.222%
3.336%
Dec 31, 2025
3.860%
3.157%
3.360%
3.362%
Sep 30, 2026
3.870%
3.383%
3.466%
3.518%
Average Treasury interest rates: what changed since last month
The latest average rate on bills print is 3.870% on Sep 30, 2026, higher than the month before it, 3.788% on Aug 31, 2026.
The latest average rate on notes print is 3.383% on Sep 30, 2026, higher than the month before it, 3.345% on Aug 31, 2026.
The latest average rate on bonds print is 3.466% on Sep 30, 2026, higher than the month before it, 3.453% on Aug 31, 2026.
The latest average rate on all marketable securities print is 3.518% on Sep 30, 2026, higher than the month before it, 3.475% on Aug 31, 2026.
Average interest rate on each type of Treasury security for the latest record date
Type
Security
Average interest rate
Marketable
Treasury Bills
3.870%
Marketable
Treasury Notes
3.383%
Marketable
Treasury Bonds
3.466%
Marketable
Treasury Inflation-Protected Securities (TIPS)
1.149%
Marketable
Treasury Floating Rate Notes (FRN)
4.141%
Marketable
Federal Financing Bank
2.383%
Marketable
Total Marketable
3.518%
Non-marketable
Domestic Series
7.577%
Non-marketable
Special Purpose Vehicle
3.189%
Non-marketable
State and Local Government Series
3.459%
Non-marketable
United States Savings Securities
3.138%
Non-marketable
United States Savings Inflation Securities
4.527%
Non-marketable
Government Account Series
3.590%
Non-marketable
Government Account Series Inflation Securities
1.392%
Non-marketable
Total Non-marketable
3.592%
Interest-bearing Debt
Total Interest-bearing Debt
3.531%
As of Sep 30, 2026 · Percent, as published, shown to three decimal places · U.S. Department of the Treasury · Fiscal Data, average interest rates on Treasury securities · Retrieved
What the average interest rate is, in plain English
Each month the Treasury publishes the average interest rate it is paying on the securities it has outstanding, split by type: bills, notes, bonds, inflation-protected securities, and floating rate notes. It is an average over securities issued at many different times.
Average interest rate
The average rate across all outstanding securities of one type. It is not the rate on a new auction.
Treasury bills
Short-term securities that mature in one year or less.
Treasury notes and bonds
Longer-term securities. Notes mature in 2 to 10 years, bonds in 20 or 30 years.
Marketable and non-marketable
Marketable securities trade among investors. Non-marketable securities, such as savings bonds and government account series, do not.
Average Treasury interest rate questions answered
What is the average interest rate on Treasury debt?
The average interest rate on all marketable Treasury securities was 3.518% for the month ended Sep 30, 2026, with bills at 3.870%, notes at 3.383%, and bonds at 3.466%, according to the U.S. Treasury (Fiscal Data).
Why is the average different from today’s auction rate?
The average blends securities sold years ago with ones sold recently. When market rates change, the average moves only as older securities mature and are replaced.
Is this the interest rate on the national debt?
It is the average rate on each type of security outstanding, as the Treasury reports it. See Debt to the Penny for the total owed.
