Mortgage rates rise to highest level in 2 years

The rate for an average 30 year fixed mortgage rose to 4.58%, up from 4.40% a week earlier. This is the highest rate in the past 2 years. A 15 year fixed rose to 3.60% from 3.44 a week earlier. Both averages have risen more than a point since May. Speculation that the Federal Reserve may slow its bond purchases ( which help keep interest rates down), as early as September, are fueling the rise in interest rates.