NEW YORK, Jan. 14 /PRNewswire-FirstCall/ -- The average conforming 30-year fixed mortgage decreased this week to 5.23 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.47 discount and origination points. (Logo: http://www.newscom.com/cgi-bin/prnh/20040122/FLTHLOGO ) To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/ The average 15-year fixed mortgage fell to 4.62 percent while the larger jumbo 30-year fixed rate retreated to 5.97 percent. Adjustable rate mortgages were lower as well, with the average 3-year ARM sinking to 4.71 percent and the 5-year ARM dropping to 4.68 percent. Mortgage rates declined for the second week in a row. A disappointing December jobs report helped bring investors back into the safety of bonds, to which mortgage rates are closely related, pulling mortgage rates lower. The average 30-year fixed rate is at the lowest level in the past month. A wider than normal spread between 30-year and 15-year mortgage rates makes the shorter loan appealing to homeowners capable of swinging the higher payments. 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 5.23 percent, the monthly payment for the same size loan would be $1,101.93, a savings of $140 per month for a homeowner refinancing now. SURVEY RESULTS 30-year fixed: 5.23% -- down from 5.26% last week (avg. points: 0.47) 15-year fixed: 4.62% -- down from 4.67% last week (avg. points: 0.42) 5/1 ARM: 4.68% -- down from 4.74% last week (avg. points: 0.36) Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets. For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates The survey is complemented by Bankrate's weekly forward-looking Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next 30 to 45 days. Mortgage rates don't appear to be headed much of anywhere, with 46 percent of respondents expecting mortgage rates to remain more or less unchanged in the next 30 to 45 days. A bit more than one-third of the panelists, 36 percent, predict rates will rise and just 18 percent forecast further declines in rates during that period of time. For the full mortgage Rate Trend Index, go to http://www.bankrate.com/RTI About Bankrate, Inc. The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure, InsureMe CreditCardGuide.com and Bankaholic. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (NASDAQ:YHOO), America Online (NYSE:TWX), The Wall Street Journal and The New York Times (NYSE: NYT). Bankrate.com's information is also distributed through more than 500 newspapers. Bankrate, Inc. was acquired by Apax Partners, one of the world's leading private equity investment groups, in September 2009. Apax operates across the United States, Europe and Asia and has more than 30 years of investing experience. For more information on Apax, visit: http://www.apax.com/. NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to Bankrate.com For more information contact: Kayleen Yates Senior Director, Corporate Communications (917) 368-8677 http://www.newscom.com/cgi-bin/prnh/20040122/FLTHLOGO http://photoarchive.ap.org/ DATASOURCE: Bankrate, Inc. CONTACT: Kayleen Yates, Senior Director, Corporate Communications, +1-917-368-8677, Web Site: http://www.bankrate.com/

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