Over the last few years, historically low mortgage rates have enticed millions of Americans to purchase homes.

But pandemic-era mortgage deals are over and rates have been stuck on a proverbial see-saw for weeks.

The average US fixed rate for a 30-year mortgage came in at 5.22% this week, Freddie Mac reported in its weekly mortgage market survey. The rate soared from last week’s reading of 4.99% and is a tremendous increase from a pandemic low of 2.68% in December 2020.

“The 30-year fixed-rate went back up to well over five percent this week, a reminder that recent volatility remains persistent,” Sam Khater, the chief economist at Freddie Mac, told Insider.

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