The 30-year fixed mortgage rate fell to a new record low of 4.19 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.32 discount and origination points.

The average 15-year fixed mortgage tied a record low at 3.42 percent, while the jumbo 30-year fixed mortgage nosed up to 4.69 percent. Adjustable rate mortgages were mixed, with the average 3-year ARM holding at 3.49 percent and the 5-year ARM rising to 3.21 percent.  

Mortgage rates haven't moved much since the beginning of November, but this week's move was enough to push fixed mortgage rates back into record-low territory. Continued uneasiness about the European debt crisis, ongoing political wrangling about the payroll tax cut extension, and no indication of forthcoming stimulus from the Federal Open Market Committee collectively brought mortgage rates lower. Mortgage rates are at record low levels despite notably improved economic data in recent months. But with Europe's crisis still holding sway, the better economic picture has gone largely unnoticed in financial markets.

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 4.19 percent, the monthly payment for the same size loan would be $976.87, a difference of $265 per month for anyone refinancing now.

SURVEY RESULTS

30-year fixed: 4.19% --down from 4.24% last week (avg. points: 0.32)

15-year fixed: 3.42% -- down from 3.48% last week (avg. points: 0.33)

5/1 ARM: 3.21% -- up from 3.18% last week (avg. points: 0.34)