WASHINGTON - The average U.S. rate on a 15-year fixed mortgage rose above 3 percent this week for the first time in a year, while the rate on the 30-year fixed loan approached 4 percent.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan jumped to 3.91 percent from 3.81 percent last week. That's the highest since March 2012.

The rate on the 15-year loan rose to 3.03 percent from 2.98 percent. That's the highest since last May.

Concerns that the Federal Reserve may scale back its bond purchases have pushed rates higher over the last month. Still, mortgage rates remain low by historical standards. The 30-year loan hit a record 3.31 percent rate in November. The 15-year loan fell to its low of 2.56 percent a month ago.

Mortgage rates are rising because they tend to follow the yield on the 10-year Treasury note. The yield on the 10-year note climbed as high as 2.2 percent last week, its highest level in more than two years. It has since slipped to 2.1 percent in early trading Thursday. That compares with 1.63 percent at the beginning of May.

The Fed's $85-billion-a-month in Treasury and mortgage bond purchases have pushed down long-term interest rates. As speculation has grown that the Fed will slow those purchases, investors have driven rates up. That has decreased the value of bonds with lower yields.

The rise in mortgage rates has slowed mortgages applications. They dropped 11.5 percent in the week ended May 31 from the previous week, the Mortgage Bankers Association said Wednesday.

Still, cheaper mortgages have helped boost home sales and prices this year, strengthening a housing recovery that began in 2012.

Both home prices and sales increased throughout the country from April through late May, according to a Fed survey released Wednesday, and several regional districts noted that sellers were receiving multiple offers.

Data provider CoreLogic said Tuesday that home prices soared 12.1 percent in April from a year earlier, the biggest gain since February 2006.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for 30-year mortgages dipped to 0.7 point from 0.8 point last week. The fee for 15-year loans was unchanged at 0.7 point.

The average rate on a one-year adjustable-rate mortgage rose to 2.58 percent from 2.54 percent. The fee for one-year adjustable-rate loans declined to 0.4 point from 0.5.

The average rate on a five-year adjustable-rate mortgage jumped to 2.74 percent from 2.66 percent. The fee held steady at 0.5.

No doubt attributed, in part to the huge amount of money the EPA will spend there this year, the real estate recovery has landed in Idaho's Silver Valley. After taking longer than many areas reported by the Coeur d'Alene Multiple Listing Service, the Silver Valley seems to have built a head of steam and is now chugging back into a better market with rising residential prices and an increase in their number of sales.

Our year to date reporting shows a strong 5 percent increase in the number of sales in Shoshone County with an average price increase that is a remarkable 37 percent higher than at this same time last year. This is a welcome sign that earlier months were no anomaly and that the market has gained footing.

Post Falls continued its growth too, although as reported last week in this paper, the loss of the USDA Rural Development loan could slow things should Congress not extend this program. For now at least, they continue to show strong gains both in number of sales and price appreciation. As of the end of May, Post Falls posted a very strong 28 percent increase in sales with an average price of a single family residence at 16 percent higher than last year.

Housing activity is at a near frantic pace in Coeur d'Alene and Dalton too, with 37 percent more homes sold in 2013 than in 2012 so far this year. The average prices though, pale by comparison to the two geographical areas addressed above. The 83814 and 83815 zip codes still appear strong although with a modest 4 percent average price increase over 2012.

Rathdrum continues its long awaited recovery too. That area includes Hauser and Twin Lakes and has enjoyed an average price increase of 8 percent although they posted 9 percent fewer sales. Other rural areas reported similar results with North Kootenai County, which includes Athol, showing the same 9 percent gain in average price but a 9 percent increase in units sold. In South Kootenai County activity increased by 120 percent, from 5 to 11 sales of single family homes although a lack of high end homes distorts their average price to show a statistical decline of 61 percent. This average could easily be bolstered by the sale of a couple waterfront homes which may already be pending.

Interestingly enough, the county that borders South Kootenai; Benewah, shows an increase in average price of 31 percent with a 43 percent increase in sales activity. They too are pleased to get on board the housing recovery. To the north, Bonner and Boundary counties are still seeking traction. With a guesstimated 80 percent of the agents there reporting to the Coeur d'Alene MLS, we see a net loss of sales activity to the tune of 12 percent and an average price drop of 7 percent. Perhaps their new offerings of vacation homes under construction will provide them the inventory to boost those numbers.

For Kootenai County as a whole, the figures are strong. Kootenai County shows a 25 percent in number of sales of single family homes; up from 629 last year to 788 this year. Our county-wide average sale price is now at $188,908 compared to $178,824 at then end of May 2012.

Sales of lender owned properties continue to decline. Only 154 have been sold this year-to-date. Last year we had sold 250. This represents a decline of more than 38 percent. Short sales are occurring with less frequency too with 82 so far this year compared to 98 at May's end in 2012.

Our MLS shows 794 total sales in 2012 and in 2013, 960. It looks more and more like we are in recovery and that that recovery is spreading out to strengthen our rural markets.

Trust an expert...call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.

Kim Cooper is a real estate broker and the spokesman for the Coeur d'Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d'Alene Association of Realtors, 409 W. Neider, Coeur d'Alene, ID 83815 or by calling (208) 667-0664.