Applications for U.S. home mortgages ticked higher last week, while demand for refinancing rose for the third week in a row, an industry group said Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 2.7 percent in the week ended March 18.

The MBA's seasonally adjusted index of refinancing applications and the gauge of loan requests for home purchases both rose 2.7 percent.

Fixed 30-year mortgage rates averaged 4.80 percent, edging up from 4.79 percent the week before.