Mortgage rates showed little movement again this week, with the benchmark conforming 30-year fixed mortgage rate nosing higher to 4.97 percent according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points.

The average 15-year fixed mortgage inched lower to 4.28 percent, while the larger jumbo 30-year fixed rate increased to 5.53 percent. Adjustable rate mortgages were mixed, with the average 5-year ARM slipping to 3.84 percent and the 7-year ARM rising to 4.21 percent.

Fixed mortgage rates have shown very little movement over the past month and are essentially unchanged since the first of the year. This comes after a significant increase in mortgage rates from early November through mid-December. But with mortgage rates stabilized, the Federal Reserve is unwilling to rock the boat. The Fed's post-meeting statement on Jan. 26 was little changed from the previous meeting in December and gave no indication that changes to interest rates or the bond purchase program are likely. The Fed would be perfectly happy to see mortgage rates stay right where they are, so expect their bond buying and principal reinvestments to continue at a pace necessary to do so.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.97 percent, the monthly payment for the same size loan would be $1,069.98, a savings of $171 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 4.97% - up from 4.95% last week (avg. points: 0.44)

15-year fixed: 4.28% - down from 4.29% last week (avg. points: 0.41)

5/1 ARM: 3.84% - down from 3.86% last week (avg. points: 0.38)