Mortgage rates up on positive jobs report

Fannie Mae sees rates on 30-year loans headed back above 4 percent this year

Mortgage rates rose this week after mostly holding steady through February and early March. Economists are likely to partly attribute the increase in rates to continued signs that the economy is improving, including last week’s jobs report, which showed that the unemployment rate dropped to its lowest level since December 2008 in February.

Rates on 30-year fixed-rate mortgages averaged 3.63 percent for the week ending March 14, up from 3.52 percent a week earlier, but still down from 3.92 percent a year earlier, according to Freddie Mac’s Primary Mortgage Market Survey.