The average conforming 30-year fixed mortgage rate fell for the fourth consecutive week, settling at 5.13 percent according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.49 discount and origination points.

The average 15-year fixed mortgage dropped to 4.54 percent but the larger jumbo 30-year fixed rate moved higher to 5.99 percent. Adjustable rate mortgages were lower as well, with the average 3-year ARM dipping to 4.65 percent and the 5-year ARM sliding to 4.54 percent.

2010 has been kind to mortgage shoppers thus far, with rates having fallen each week of the new year. Recent market jitters traceable to uncertainty over Bernanke's reconfirmation as Federal Reserve Chairman and President Obama's proposal on the separation of trading from banking activity helped keep mortgage rates moving lower. Mortgage rates are closely related to yields on long-term government and mortgage-backed bonds. The Fed seems intent on wrapping up mortgage bond purchases at the end of the first quarter. Economic worries notwithstanding, this will eventually push mortgage rates higher.

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 5.13 percent, the monthly payment for the same size loan would be $1,089.59, a savings of more than $150 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 5.13% - down from 5.15% last week (avg. points: 0.49)

15-year fixed: 4.54% - down from 4.56% last week (avg. points: 0.43)

5/1 ARM: 4.54% - down from 4.63% last week (avg. points: 0.38)