Mortgage rates again sink to yearly low; 30-year at 4.78%

Mortgage rates have fallen to the lowest level of the year as European turmoil caused investors to pour money into the safe haven of U.S. government securities. The average rate on a 30-year fixed rate mortgage dipped to 4.78% this week from 4.84% a week earlier, according to a survey by Freddie Mac. Concerns over the European debt crisis have sent yields for 10-year and 30-year Treasury bonds to their lowest levels of 2010. Rates on 30-year home loans often rise and fall in line with the 10-year note. Read full article:
http://www.usatoday.com/money/economy/housing/2010-05-27-mortgage-rates_N.htm