The average 30-year fixed mortgage rate ended the week a hair lower at 5.58 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 was unchanged at 4.93 percent, while the average jumbo 30-year fixed rate retreated to 6.65 percent. Adjustable rate mortgages continue to post mixed results, with the average 1-year ARM moving higher to 5.22 percent and the 5-year ARM sinking to 4.98 percent.

It was an active week for mortgage rates. After first declining on continued economic weakness, mortgage rates reversed ground following corporate earnings that weren't as bad as feared. With investors moving out of bonds and into stocks, it pushed bond prices down and bond yields higher. Mortgage rates are closely related to yields on long-term government bonds. The up-and-down, yo-yo movement of mortgage rates is likely to persist as the economic sentiment waxes and wanes, with good economic news leading to higher rates and dour news producing a pullback.

Mortgage rates remain much lower than one year ago. This time last year, the average 30-year fixed mortgage rate was 6.42 percent, meaning a $200,000 loan would have carried a monthly payment of $1,253.63. With the average rate now 5.58 percent, the monthly payment for the same size loan would be $1,145.63, a savings of $108 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 5.58% - down from 5.59% last week (avg. points: 0.41)

15-year fixed: 4.93% - unchanged from last week (avg. points: 0.42)

5/1 ARM: 4.98% - down from 5.05% last week (avg. points: 0.43)