Mortgage Rates Near Historic Lows...As Housing Market Continues Deteriorating

The Greece / Eurozone crisis has pushed mortgage rates to 4.81, as investors flee to US Treasuries, just as mortgage applications drop to a 13 year low.

While that's an attractive rate, it's an ugly picture in the wider housing market:

One in 7 US mortgage holders is late on payment or in foreclosure - Reuters 

14% of mortgage holders late or in foreclosure - Marketwatch

Mortgage