This week, however, the verdict is in: over the last two weeks the 30-year mortgage rate jumped by a whopping 40 basis points to 3.94 percent, almost identical to the 39 basis point increase in the 10-year Treasury yield, and sending the average 30 year mortgage to levels last seen at the start of the year.

Some details:

30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending November 17, 2016, up from last week when it averaged 3.57 percent. A year ago at this time, the 30-year FRM averaged 3.97 percent.

15-year FRM this week averaged 3.14 percent with an average 0.5 point, up from last week when it averaged 2.88 percent. A year ago at this time, the 15-year FRM averaged 3.18 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.4 point, up from last week when it averaged 2.88 percent. A year ago, the 5-year ARM averaged 2.98 percent.