For the first time in five weeks, mortgage rates have increased, which threatens the housing market recovery.

According to Freddie Mac, 30-year fixed mortgage rate increased to 5.01 percent, from 4.98 percent in the previous week.

A 15-year mortgage rate averaged 4.40 percent.

“The spring will probably look really good,” said George Mokrzan, senior economist at Huntington National Bank in Columbus, Ohio. “My concern is more the second half of the year. The tax benefits go away and I think the mortgage rates will probably go up.”

Buyers have until April 30 to have a signed contract on a home and until July 1 to close on it, in order to receive the government’s tax credit for home buyers. Mokrzan predicts mortgage rates will increase to 6 percent by the end of 2010.

Mortgage rates were dropped after bonds were purchased from Fannie Mae, Freddie Mac, and Ginnie Mae, which buy mortgages from lenders and package them into securities.

Last week mortgage applications increased 21 percent, the refinancing gauge rose 26 percent and the purchase measure gained 10 percent.