(Newsroom America) -- The average rate on the benchmark 30-year fixed mortgage rate dipped just slightly to 3.61 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 mortgage rate slipped to 2.90 percent and the larger jumbo 30-year mortgage moved down to 4.17 percent. Adjustable mortgages held steady this week with the 5-year ARM inching up to 2.73 percent and the 7-year ARM remaining unchanged at 2.85 percent.
The last time mortgage rates were above 6 percent was Nov. 2008. At the time, the average 30-year fixed 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 3.61 percent, the monthly payment for the same size loan would be $910.41, a difference of $331 per month for anyone refinancing now.
30-year fixed: 3.61% -- down from 3.62% last week (avg. points: 0.44)
15-year fixed: 2.90% -- down from 2.91% last week (avg. points: 0.32)
5/1 ARM: 2.73% -- up from 2.72% last week (avg. points: 0.38)
Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.
The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days.
The majority of the panelists, 53 percent, see little change in mortgage rates over the next seven days. Twenty-seven percent expect a decrease in the coming week ant 20 percent predict an increase in rates.