Economic worries pushed mortgage rates down again, with the average conforming 30-year fixed mortgage rate falling to 6.55 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.41 discount and origination points.

The average 15-year fixed rate mortgage popular for refinancing dropped to 6.09 percent, while the average jumbo 30-year fixed rate retreated to 7.52 percent. Adjustable mortgage rates were mostly higher, with the average 1-year ARM jumping to 6.43 percent and the average 5/1 ARM inching up to 6.29 percent.

Mortgage rates moved lower amid mounting economic worries, and not just worries about the U.S. economy. A global economic slowdown has investors favoring the safe haven of Treasury securities, with yields falling as bond prices rise. The appeal of Treasuries has been enhanced by the retreat in oil prices, which eases the inflation angst of bond investors. The movements in mortgage rates are often closely related to yields on long-term government bonds. Mortgage rates continue to hover at an abnormally wide margin above Treasuries, reflecting the record delinquencies and ongoing credit crunch.

Although mortgage rates have been relatively calm in recent weeks, it has been a wild ride for much of 2008. Seven months ago, the average 30-year fixed mortgage rate was 5.78 percent, meaning that a $200,000 loan would have carried a monthly payment of $1,170.96. But at today's rate of 6.55 percent, a $200,000 loan would mean a monthly payment that is $100 higher, at $1,270.72.

SURVEY RESULTS

30-year fixed: 6.55% - down from 6.60% last week (avg. points: 0.41)

15-year fixed: 6.09% - down from 6.14% last week (avg. points: 0.41)

5/1 ARM: 6.29% - up from 6.27% last week (avg. points: 0.35)