Mortgage rates in uncharted territory

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

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

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.