Mortgage Rates Near Record Low

From AP News via The Boston Globe

The average 30-year, fixed-rate loan sank to 4.78 percent this week, the lowest this year and barely above the record of 4.71 percent set in December. And 15-year loans are at their lowest rates in two decades.

The European debt crisis has forced down Treasury yields which has contributed to these low mortgage rates, and it's yet another thing keeping deposit rates low.