The average weekly rate for a 30-year fixed-rate mortgage jumped to a two-year high, Freddie Mac said on Thursday.
The rate is now 4.58%, up from 4.4% the prior week.
That is the highest level for the 30-year in more thantwo years, since it hit 4.6% on July 7, 2011, according to Freddie Mac spokesman Chad Wandler.
He attributed the increase to an improving housing market. He also cited investor concerns about when the Federal Reserve will taper its government bond-buying program, which could affect interest rates.
The 30-year rate hit an all-time low of 3.31% on Nov. 21, 2012. Since then, the 30-year has bounced around, sinking back down to 3.35% on May 2, 2013. The runup to the current two-year high has all occurred in the last three months.(Click here to shop for a mortgage)