The benchmark conforming 30-year fixed mortgage rate moved a touch higher to 4.25 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.37 discount and origination points.

The average 15-year fixed mortgage ticked up to 3.48 percent while the larger jumbo 30-year fixed rate held steady at 4.74 percent. Adjustable rate mortgages were mixed, with the average 3-year ARM sliding to 3.45 percent and the 10-year ARM climbing to 3.81 percent.  

Mortgage rates continue to jog in place, having been essentially unchanged throughout the month of November, despite almost universally improved data on the U.S. economy. What is keeping mortgage rates steady – and at near-record low levels – is the continually evolving European debt crisis. Developments in Europe – good or bad – are the likely catalyst for the next movement in mortgage rates, whenever that should come.

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 4.25 percent, the monthly payment for the same size loan would be $983.88, a difference of $258 per month for anyone refinancing now.

SURVEY RESULTS

30-year fixed: 4.25% --up from 4.23% last week (avg. points: 0.37)

15-year fixed: 3.48% -- up from 3.47% last week (avg. points: 0.37)

5/1 ARM: 3.21% -- up from 3.20% 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.