Mortgage rates were a touch higher this week, with the average conforming 30-year fixed mortgage rate at 4.95 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.45 discount and origination points.

The average 15-year fixed mortgage stepped up to 4.36 percent while the larger jumbo 30-year fixed rate inched lower to 5.74 percent. Adjustable rate mortgages were mixed, with the average 1-year ARM rising to 4.91 percent while the average 5-year ARM backpedalled to 4.21 percent.

Nervous investors and tenuous financial markets kept a lid on mortgage rates. Mortgage shoppers - whether home buyers that are aiming to close by June 30 and capture the tax credit or current homeowners refinancing - have been direct beneficiaries of the global uncertainty. Although the Federal Reserve is expected to leave short-term interest rates low for the time being, evidence of continued improvement in the U.S. economy will eventually lead to higher mortgage rates as the year progresses.

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 4.95 percent, the monthly payment for the same size loan would be $1,067.54, a savings of $174 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 4.95% - up from 4.92% last week (avg. points: 0.45)

15-year fixed: 4.36% - up from 4.34% last week (avg. points: 0.49)

5/1 ARM: 4.21% - down from 4.26% last week (avg. points: 0.42)