Average rates on mortgages rose this week to their highest level in more than two years, but analysts remain optimistic about the implications for the housing market and the economy in general.

According to Freddie Mac's primary mortgage market survey, 30-year, fixed-rate mortgages rose 8 basis points to an average of 7.71%. This was the highest rate since 7.72% in the week that ended June 13, 1997.

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