After improving through 11 straight weeks, mortgage rates finally ticked higher last week. This, according to Freddie Mac's weekly mortgage rate survey. The Freddie Mac survey showed that mandatory mortgage fees rose last week, too.

Unfortunately, the bad news for rate shoppers doesn't stop there.

Because Freddie Mac's rate survey is conducted on Tuesday but its reports aren't released until Thursday, the published data doesn't even account for the previous 48 hours of activity in which rates and fees have risen further.

Versus last week, 30-year fixed, conforming mortgage rates are up 0.16% on average nationwide. On a $200,000 home loan, this equates to a roughly $20 extra per month, or $7,055 over the life of a 30-year loan.

The Era of Low Rates may not be over, but it may be time to get off the fence.

(Image courtesy: Freddie Mac)