Average mortgage rates have ticked up slightly week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.

OnOctober 18, averagehome loan ratesoffered by LendingTree network lenders were 4.56% (4.74% APR) for 30-year fixed mortgages, 3.93% (4.20% APR) for 15-year fixed mortgages and 3.39% (3.56% APR) for 5/1 adjustable rate mortgages (ARM).

On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 3.875 percent (4.00% APR) for a 30-year fixed mortgage, 3.13 percent (3.36% APR) for a 15-year fixed mortgage and 2.50 percent (3.03% APR) for a 5/1 ARM.

"In the most recent LendingTree Lender Marketplace Survey, 64% of lenders surveyed said they've experienced increased closing times for refinance loans due to the rush of refinancers," says LendingTree Chairman and CEODoug Lebda. "If borrowers have been trying to 'time the market', today's rising rates may be a signal that it's time to act. With increasing rates and longer closing timeframes, continued hesitation could mean missed savings opportunities for borrowers. Although rates are beginning to rise, it's likely that you can still take advantage of real savings."