The average conforming 30-year fixed mortgage rate notched higher to 5.34 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.36 discount and origination points.

The average 15-year fixed mortgage was also up modestly to 4.72 percent while the larger jumbo 30-year fixed rate was unchanged at 6.52 percent. Adjustable rate mortgages were mostly lower, with the average 3-year ARM dipping to 4.84 percent and the 5-year ARM falling to 4.69 percent.

Fixed mortgage rates increased for the second consecutive week, posting only slight increases this week. Mortgage rates have been held in check by mixed economic news. Also, quarterly earnings announcements have drawn investors' attention, with middling data on housing starts and building permits not having their typical effect on interest rates. However, the economic calendar heats up again as month-end approaches with releases on consumer confidence and third quarter economic growth potentially impactful to mortgage rates.

Mortgage rates are approximately one full percentage point lower than one year ago. This time last year, the average 30-year fixed mortgage rate was 6.32 percent, meaning a $200,000 loan would have carried a monthly payment of $1,240.55. With the average rate now 5.34 percent, the monthly payment for the same size loan would be $1,115.58, a savings of $125 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 5.34% - up from 5.32% last week (avg. points: 0.36)

15-year fixed: 4.72% - up from 4.70% last week (avg. points: 0.29)

5/1 ARM: 4.69% - down from 4.76% last week (avg. points: 0.33)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.