Mortgage rates on a 30-year fixed rate mortgage jumped again for the second consecutive week, according to mortgage giant, Freddie Mac.

Rising to 4.80% from 4.74% the week before, the rates are expected to continue the upward trend. Although, even with the remarkable low mortgage rates, sales fell 4.8% last year due to the high rate of foreclosures, unemployment and the expectations that home prices will continue to drop, according to the National Association of Realtors (NAR).

Freddie Mac collects rates from lenders across the nation weekly Monday through Wednesday. As mortgage rates are closely tied in with long-term treasury bonds, they can change significantly even on a given day.