Mortgage Rate Surge Sparks Concerns for Crypto Markets

The average 30-year fixed US mortgage rate has jumped to 7.45%, its highest point in nearly two years, according to Mortgage News Daily.

This increase is part of a broader selloff in US government bonds, with the Treasury yield playing a key role.

The jump from 5.99% in late February to 7.45% on Thursday is significant, and it's not just because of the Fed's rate hikes or oil prices.

Mortgage News Daily Chief Operating Officer Matthew Graham couldn't find a clear catalyst for the bond selloff, saying 'No obvious catalyst. Explanations require concocting narratives and then defending them.'