Mortgage rates were little changed over the past week, with the benchmark 30-year fixed mortgage rate ticking lower to 4.13 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.27 discount and origination points. 

The average 15-year fixed mortgage rate dipped to 3.32 percent, while the larger jumbo 30-year fixed mortgage rate nosed higher to 4.15 percent. Adjustable rate mortgages were mixed, with the 5-year ARM rising to 3.22 percent and the 7-year ARM stepping back to 3.50 percent.       

Mortgage rates have entered a period of tranquility following the volatility seen in the first half of October. The monthly employment report showed continued solid job creation, underscoring the strength of the U.S. economic recovery. But meager wage growth is a counterbalance that could prompt the Federal Reserve to keep interest rates low, despite improving economic fundamentals. As this tug of war plays out, mortgage rates and bond yields remain in a holding pattern. Mortgage rates are closely related to yields on long-term government bonds. 

As 2013 came to a close, the average 30-year fixed mortgage rate was 4.69 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,036.07. Mortgage rates have moved lower thus far in 2014, and with the average rate now 4.13 percent, the monthly payment for the same size loan would be $969.88, a savings of $66 per month for anyone that waited. 

SURVEY RESULTS 

30-year fixed: 4.13% -- down from 4.14% last week (avg. points: 0.27)

15-year fixed: 3.32% -- down from 3.34% last week (avg. points: 0.18)

5/1 ARM: 3.22% -- up from 3.18% last week (avg. points: 0.15)

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.