NEW YORK, Dec. 24 /PRNewswire-FirstCall/ -- The average conforming 30-year fixed mortgage increased this week to 5.24 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.

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The average 15-year fixed mortgage moved higher, to 4.62 percent while the larger jumbo 30-year fixed rate inched upward to 6.16 percent. Adjustable rate mortgages were mixed, with the average 1-year ARM falling to 5.10 percent and the 5-year ARM climbing to 4.70 percent.

Mortgage rates are lower than they were one year ago. This week last year, the average 30-year fixed mortgage rate was 5.64 percent, meaning a $200,000 loan would have carried a monthly payment of $1,153.21. With the average rate now 5.24 percent, the monthly payment for the same size loan would be $1,103.17, a savings of $50 per month for a homeowner refinancing now.

                                    SURVEY RESULTS

          30-year fixed: 5.24% -- up from 5.13% last week (avg. points: 0.45)
          15-year fixed: 4.62% -- up from 4.53% last week (avg. points: 0.45)
             5/1 ARM: 4.70% -- up from 4.60% last week (avg. points: 0.41)

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.

For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates

The survey is complemented by Bankrate's weekly forward-looking Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next 30 to 45 days. It's almost evenly split among those predicting a rise and those forecasting a fall. This week, almost half of the panelists believe mortgage rates will rise over the next 35 to 45 days. A little more than half think rates will fall. No one predicted that rates will remain relatively unchanged (plus or minus 2 basis points).

For the full mortgage Rate Trend Index, go to http://www.bankrate.com/RTI

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/

About Bankrate, Inc.

The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure, InsureMe CreditCardGuide.com and Bankaholic. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. In 2008, Bankrate.com had nearly 72 million unique visitors. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: AOL), The Wall Street Journal and The New York Times (NYSE: NYT). Bankrate.com's information is also distributed through more than 500 newspapers. Bankrate, Inc. was acquired by Apax Partners, one of the world's leading private equity investment group, in September 2009. Apax operates across the United States, Europe and Asia and has more than 30 years of investing experience. For more information on Apax, visit: www.Apax.com.

    For more information contact:
    Kayleen Yates
    Senior Director, Corporate Communications
    kyates@bankrate.com
    (917) 368-8677

www.bankrate.com

SOURCE Bankrate, Inc.

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