UPDATE1-U.S. 30-, 15-year mortgage rates rise in latest week

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WASHINGTON, March 13 (Reuters) - U.S. 30- and 15-year mortgage rates rose in the latest week, home funding giant Freddie Mac (FRE.N) said on Thursday.

U.S. 30-year mortgage rates averaged 6.13 percent compared with 6.03 percent a week earlier, while 15-year mortgages rose to an average of 5.60 percent from 5.47 percent.

One-year adjustable rate mortgages (ARM) also jumped to 5.14 percent in the week from 4.94 percent a week earlier.

Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 5.58 percent, also up from 5.34 percent the prior week.

Orawin Velz, senior director, Mortgage Bankers Association in Washington, said that so far the housing sector has not benefited from interest rate cuts by the Federal Reserve.

"The rates are coming down slower because of the increase in the spread between the 10-year Treasury yield and conforming mortgage rates," Velz told Reuters.

"Average mortgage rates were up for all loan products reported," said Frank Nothaft, Freddie Mac vice president and chief economist.

"However, for the first 11 weeks so far this year, the average 30-year fixed rate is still below 5.9 percent, and the average 30-year rate in January was the lowest since July 2005," Nothaft said.

A year ago, 30-year mortgages averaged 6.14 percent, 15-year mortgages 5.88 percent and the one-year ARM 5.42 percent. The 5/1 ARM averaged 5.90 percent.

Lenders charged an average of 0.5 percent in fees and points on 30- and 15-year mortgages, both unchanged from last week. They charged 0.6 percent on the 5/1 ARM and 0.7 percent on the one-year ARM, both up from 0.5 percent.

Freddie Mac is a mortgage finance company chartered by Congress that buys mortgages from lenders and packages them into securities to sell to investors or to hold in its own portfolio. (Reporting by Melissa Bland)