The 30-year fixed-rate average climbed to 4.47 percent last week, the biggest weekly increase of the year, which took it to the highest level since January 2014.

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Mortgage rates broke out of their rut this week, with the 30-year fixed-rate average reaching its highest level in four years.

Freddie Mac reported Thursday that the 30-year fixed-rate average climbed to 4.47 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.42 percent a week ago.

The jump of five basis points — a basis point is 0.01 percentage point — was the largest weekly increase of the year, putting the 30-year fixed rate at a level it hadn’t been at since January 2014.

On Wednesday, the Federal Reserve released its latest “beige book,” a report on regional economic conditions, which showed the U.S. economy expanding at a modest pace.

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Good economic news tends to be bad for mortgage rates because a strong economy raises fears about inflation. Inflation causes fixed-income investments such as bonds to lose value, and that causes their yields to rise.

The yield on the 10-year Treasury moved steadily higher last week, rising to 2.87 percent Wednesday. Mortgage rates generally track the same path as long-term bond yields. When yields go up, home loan rates tend to go up.