Bond yields have been rising this week, which could lead to an increase in fixed mortgage rates if the trend continues. The 5-year Government of Canada bond yield rose to 3.92% on Tuesday, and could reach the 4% mark if it continues to rise. If the 5-year yield breaks the 4% mark, mortgage rates could increase, and currently the lowest 5-year fixed rate is already above 5%. Despite the current high levels, more increases could be on the way should bond yields continue to push higher.