After hitting a low point last month, mortgage interest rates are continuing to tick back up along with activity in the home-buying market for spring.

Rates rose to an average 4.17% on a 30-year fixed-rate mortgage for the week ending April 18, according to Freddie Mac. That’s continuing an upward trend after hitting their lowest point this year, 4.06%, in March. The average last week was 4.12%. But cash-strapped buyers should take solace in that rates are still well below their 4.47% average of this time a year ago.

While these may seem like incremental gains, even a tiny increase can add up when it comes to a buyer’s bottom line. The fact that rates are still 30 basis points below last year can save buyers about $40 a month on their mortgage payments for a $300,000 home that they put 20% down on. (A basis point is 0.01%.) 

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