The average 30-year fixed US mortgage rate rose 19 basis points to 7.45% on Thursday, according to Mortgage News Daily’s survey of brokers and lenders. The increase followed a broader selloff in US government bonds, with the 10-year Treasury yield closing at 5.18%, up from 4.96% on Tuesday. Mortgage rates generally track longer-dated Treasury yields, making the bond market a key transmission channel for crypto assets. Higher government bond yields increase the opportunity cost of holding Bitcoin, which fell below $84,000 on Wednesday after strong US business activity data pushed the 10-year yield above 5%. By Friday, Bitcoin traded at $84,590, up modestly over the previous 24 hours, while Solana gained 2.2% and XRP rose 3.4%, according to BeInCrypto Markets data. The mortgage rate had fallen to 5.99% in late February before rising after the Iran war started and accelerating after the Federal Reserve raised rates in September. Mortgage News Daily Chief Operating Officer Matthew Graham attributed the rise since September 10 to Federal Reserve commentary, higher oil prices and stronger economic data, but said there was no clear catalyst for Thursday afternoon’s bond selloff. The Kobeissi Letter linked the bond rout to inflation concerns, citing Brent crude above $105 a barrel, record diesel prices and consumer expectations for 4.6% inflation over the next year. The report leaves open whether crypto buyers can continue absorbing pressure from Treasury yields above 5%.