Mortgage rates continue to increase with no end in sight according to the latest survey from the Mortgage Bankers Association.

The conforming 30 year fixed mortgage rate increased 10 basis points to an average of 4.68 percent while the 30 year fixed Jumbo mortgage rate increased 18 basis points to an average of 4.86 percent. This is the highest reading for both programs since July of 2011.

The FHA 30 year fixed mortgage rate increased 10 basis points to an average of 4.37 percent and is at its highest level since September of 2011.

With the Federal Reserve announcing a scale back on the $85 Billion dollar purchase of monthly mortgage backed securities, with a possible end to the program in mid 2014, mortgage rates have only one way to go and that is up.