The average 30-year fixed mortgage rate nosed higher to 5.56 percent this week, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points.

The average 15-year fixed rate mortgage inched lower to 4.88 percent, while the average jumbo 30-year fixed rate climbed to 6.62 percent. Adjustable rate mortgages continue to post mixed results, with the average 1-year ARM sinking to 5.08 percent and the 5-year ARM rising to 4.95 percent.

Mortgage rates remain range-bound as investors sort out uncertainty about the economy, corporate earnings, and the future path of interest rates. With the Treasury issuing large blocks of debt, investors are now seeking clarification on whether the Federal Reserve will extend the program of government debt buybacks to keep a lid on long-term interest rates including fixed mortgage rates. In the meantime, a big move in mortgage rates - either up or down - seems unlikely.

Mortgage rates remain much lower than one year ago. This time last year, the average 30-year fixed mortgage rate was 6.7 percent, meaning a $200,000 loan would have carried a monthly payment of $1,290.56. With the average rate now 5.56 percent, the monthly payment for the same size loan would be $1,143.12, a savings of $147 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 5.56% - up from 5.55% last week (avg. points: 0.44)
15-year fixed: 4.88% - down from 4.89% last week (avg. points: 0.42)
5/1 ARM: 4.95% - up from 4.93% last week (avg. points: 0.41)