Rates on 30-year fixed-rate mortgages, the most popular type of home loan, jumped over the past week, according to two separate surveys. 30-year fixed-rate mortgage (FRM) averaged 3.87 percent with an average 0.6 point for the week ending November 5, 2015, up from last week when it averaged 3.76 percent.

Average fixed rates for two, three and five year mortgages are now at their lowest level since 2012, despite the prospect of a rise in interest rates next year.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.24 percent from 3.22 percent, with points decreasing to 0.37 from 0.44 (including the origination fee) for 80 percent LTV loans.

Fed Chair Janet Yellen on Wednesday echoed the statement in comments she made before Congress, calling a hike in December “a live possibility”.”We had expected to see a slight lift in demand for fixed rate products last month, after all of the majors decided to increase the interest rates on their suite of variable owner occupied and investor products”, he said.

“Our figures show that more and more of our customers are taking advantage of record low interest rates”. But consider if the borrower was able to instead invest that $12.53 in monthly savings in the S&P 500 for the next 30 years.

Interest rates are set to rise in February after six years at 0.5%, according to a think-tank.

The one-year ARM average increased to 2.62 percent with an average 0.2 point.

On an unadjusted basis, the composite index decreased by 1% week over week.

The FHA share of total applications decreased to 13.2 percent from 13.7 percent the week prior. Hybrid adjustable rate mortgages also rose.

Homebuyers, who haven’t yet locked in their rates can console themselves knowing that whatever they’ll be paying is still historically low – and well below Freddie Mac’s average of 8.46 percent dating back to 1971. At this time past year, the 1-year ARM averaged 2.45 percent.

“Treasury yields climbed around 20 basis points over the past week, capturing the market movement following last week’s Federal Open Market Committee [FOMC] meeting”, says Sean Becketti, chief economist for Freddie Mac, in a release. One point equals 1 percent of the loan amount.