By Adam Smith

The days of cheap money for home buyers could be coming to an end: The average rate on the 30-year fixed mortgage just bumped past 5 percent on this week, reports Mortgage News Daily.

While the increase may not be huge historically or even compared with the recent 4-plus range, Tuesday's rate is the highest since 2011. Wednesday's rate was 5 percent even and Tuesday's was 5.02, according to Mortgage Daily News. 

And the rise in the cost of borrowing money for a house could cause buyers to hold off, as indicated in Fannie Mae's Home Purchase Sentiment Index for September. That survey found that slightly more Americans felt now's a good time to buy a home, but slightly more were also worried about an increase in the mortgage rate.

"The net share who expect mortgage rates to go down over the next 12 months fell 4 percentage points," states the report, adding a slight uptick in fears around household income failing to keep pace.

On Tuesday, reported the average 15-year fixed-mortgage rate was at 4.08 percent, up from the same time last week.

Earlier this month, a Bankrate survey of mortgage experts found nearly half of those asked believe mortgage rates will rise by about this time.  

The 52-week low for the 30-year fixed rate mortgage is 3.93 percent.