It hasn’t been this expensive to take out a mortgage in 14 years. A market survey released by Freddie Mac last week showed that the average 30-year fixed mortgage rate has hit a 14-year high of 5.81%.

Since the beginning of this year, fixed mortgage rates have increased by more than two full percentage points. Only a year ago, the 30-year fixed mortgage rate was 3.02%. 15-year fixed mortgage rates are rising just as quickly, coming in at an average of 4.92% compared with 2.34% a year ago.

This increase in mortgage rates is a natural byproduct of the Federal Reserve’s aggressive rate hikes intended to curb inflation. As long as the Fed keeps increasing rates, mortgage rates will also continue to grow.