Mortgage rates rose to eight-week highs this week, but remain at historically low levels thanks to the government’s efforts to prop up the depressed housing market.

According to Freddie Mac’s (FRE) weekly mortgage survey, the average 30-year fixed rate mortgage rose to 5.25% last week, up from 5.10% the week before. A year ago, a 30-year mortgage carried an average rate of 5.67%.

“Interest rates for fixed-rate mortgages rose this week amid economic reports that were somewhat better than consensus forecasts had anticipated,” said Frank Nothaft, Freddie Mac vice president and chief economist, citing a better-than-expected GDP report that showed the U.S. economy shrank at a 3.8% rate at the end of 2008.

The Freddie Mac survey also showed 15-year fixed rate mortgages averaged 4.92% this week, up slightly from 4.8% the week before.

“I don’t think it changes a whole lot” for the housing market, said Greg McBride, senior financial analyst at Bankrate.com “You are still talking about rates that are historically low.”

McBride attributed the jump in mortgage rates to the Federal Reserve’s “noncommittal” statement about buying long-term Treasury securities after its meeting on Jan. 28. He also said investor concerns about the amount of debt the government will need to issue to pay for a stimulus package that is approaching $1 trillion helped push Treasury yields and mortgage rates higher.

The government's efforts to stabilize the housing market and spur economic growth have helped push mortgage rates to multi-year lows. The Federal Reserve recently slashed interest rates to the lowest level on record and has signaled a willingness to buy more mortgage-backed securities.

Bankrate.com’s mortgage rate report, also released Thursday, echoed the government data. The group’s weekly national survey showed 30-year fixed mortgages rose to 5.7%, up from 5.48% the week before. Bankrate.com said 15-year fixed rates jumped to 5.31% from 5.10%.

The higher mortgage rates will have a modest impact on monthly costs as last week a $200,000 loan would have carried a monthly payment of $1,133.07, according to BankRate.com. That payment jumped $28 to $1,160.80 per month with the group's average mortgage rate of 5.7% this week. 

The higher mortgage rate data come two days after the National Association of Realtors said its pending home sales index unexpectedly jumped by 6.3% in December. Still, new reports released this week show the U.S. labor market deteriorated at the beginning of 2009, potentially putting more pressure on housing sales. The government said initial jobless claims surged by 35,000 last week to the highest level since October 1982 last week.

The Freddie Mac report shows mortgage rates were the highest in the Southwest, where a 30-year fixed mortgage rate averaged 5.36%. The Western region saw the lowest rates, averaging 5.19%.