Article: Work and Money briefs.(FEATURES)(WORK & MONEY)

Byline: Compiled by Staff

Keeping Track: home mortgages

Rates begin to rise as the US wages war

Mortgage rates rose sharply last week after it became clear the United States would launch its now ongoing military strike against Iraq.

The average interest rate on 30-year fixed-rate mortgages for the week ending March 21 was 5.79 percent, up from the previous week's record low rate of 5.61 percent, according to the mortgage company Freddie Mac. Rates on 30-year mortgages have been falling for much of this year. The last time 30-year mortgage rates went up was in late February.

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