Rates Rise

The average 30-year fixed mortgage rate rose to 5.52% for the week ending April 2 from 5.40% the previous week, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate rose from 4.70% to 4.84%, and the average rate for one-year Treasury-indexed ARMs climbed from 3.36% to 3.46%. Fees and points averaged 0.6 of a point for all three mortgage categories. "In advance of what is hoped will be a strong jobs report [Friday], bond yields rose this week and, predictably, so did mortgage rates," said Frank Nothaft, Freddie Mac's chief economist. "The economy has been conducive to job gains for several months, but we have yet to see any significant rise in employment." A year ago, the average 30-year and 15-year fixed rates were 5.79% and 5.06%, respectively, and the average one-year ARM rate was 3.82%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.