Mortgage rates were largely unchanged from one week ago, with the average 30-year fixed mortgage rate remaining at 5.41 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.41 discount and origination points.

The average 15-year fixed rate mortgage inched up to 4.94 percent and the average jumbo 30-year fixed rate dipped to 6.77 percent. Adjustable rate mortgages were mixed, with the average 1-year ARM pulling back to 5.43 percent and the 7/1 ARM rising to 5.83 percent.

On a week of little movement in mortgage rates, the average rate for the jumbo 30-year fixed fell 10 basis points, reaching the lowest level in nearly two years. A basis point is one hundredth of one percentage point. This week's movement in jumbo rates is a testament to the disparity in rates that exists between various lenders in the market. Despite the number of lenders raising rates outnumbering those cutting rates by more than 2-to-1, the magnitude of the decreases held sway, and is further evidence of the need for jumbo mortgage borrowers to shop around for the best terms.

In the last six months, economic activity and stock prices have dropped significantly. On a brighter note, so too have mortgage rates. In early September, the average 30-year fixed mortgage rate was 6.55 percent, meaning a $200,000 loan would have carried a monthly payment of $1,270.72. With the average rate now at 5.41 percent, the monthly payment for the same size loan would be $1,124.31, a savings of $146 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 5.41% - unchanged from last week (avg. points: 0.41)

15-year fixed: 4.94% - up from 4.93% last week (avg. points: 0.43)

5/1 ARM: 5.39% - down from 5.40% last week (avg. points: 0.44)