(USA TODAY) This week’s sharp increase in mortgage rates — the biggest one-week leap in 26 years — won’t likely be repeated, but a long era of historically low rates may be over.

Mortgage giant Freddie Mac said Thursday that the average 30-year fixed rate mortgage rose to 4.46%, the highest in almost two years, and up from under 4% the week before.

In the short run, this week’s half a percentage point increase could push some home shoppers out of the market while spurring others to act before rates go higher, says John Burns, CEO of John Burns Real Estate Consulting.

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