Mortgage rates have ticked upward for a third consecutive week, reflecting recent reports that show a gradually improving economy.
Those reports moved long-term Treasury yields higher, which in turn, affected mortgage rates.
The average rate for a 30-year, fixed-rate conforming mortgage was 3.62 percent this week, compared with 3.59 percent, Freddie Mac said Thursday in its weekly survey. The lowest point for the 30-year fixed was July 26, when it dipped to 3.49 percent.
Still, rates remain a bargain compared to their year-ago counterparts. A year ago this week, the average rate on a 30-year, fixed-rate mortgage was 4.15 percent.
Meanwhile, average rates on 15-year, fixed-rate mortgages also are on the rise, to 2.88 percent, from 2.84 percent last week and 3.36 percent a year ago.
Among the latest reports on the economy was a small increase in industrial production in July and a jump in retail sales last month after a decline in June.
