Mortgage rates in uncharted territory

Despite record low rates, demand for purchase loans down from last year

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

Mortgage rates continued their descent into uncharted territory this week as investors seeking a sake haven from the European debt crisis snatched up bonds backed by mortgages, and the Federal Reserve continued programs intended to keep a lid on long-term interest rates.