By Ruth Mantell
WASHINGTON (MarketWatch) -- The average rate on the 30-year fixed-rate mortgage rose to 3.63% in the week ending March 14, reaching the highest reading level since August, from 3.52% in the prior week, Freddie Mac said Thursday in its weekly report. A year earlier, the 30-year rate was at 3.92%. "Fixed mortgage rates rose this week on stronger signs of jobs growth and consumer spending," said Frank Nothaft, chief economist at Freddie Mac. The 15-year fixed-rate mortgage rose to 2.79% in the latest week from 2.76% in the prior week. Meanwhile, the average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage declined to 2.61%, matching a record low set in recent weeks, from 2.63% in the prior week. The 1-year Treasury-indexed ARM ticked up to 2.64% from 2.63%.
