The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since late November, reflecting a recent uptick in the bond yields that lenders use as a guide to price home loan

In September, 30-year mortgage rates hit a two-year low, bringing "shoppers to the market, and the late September surge in rates created a sense of urgency that likely contributed to the uptick,” said Danielle Hale, chief economist for Realtor.com.

The housing market will end the year with its highest 30-year mortgage rate since July at 6.85%, according to data from Freddie Mac.