U.S. mortgage rates tick up after hitting record low

U.S. mortgage rates ticked up slightly, after hitting their lowest rate in nearly 50 years, according to Freddie Mac. The 30-year fixed mortgage rate averaged 3.36 percent for the week ending March 12 — an increase from last week’s rate of 3.29 percent. A year ago, mortgage rates stood at 4.31 percent. Low mortgage rates help propel U.S. home sales and the refinance market. "As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked…