Mortgage Rates Drop Again: 30 Year Mortgage Rates at 4.72%, 15 Year Mortgage Rates at 4.14%

Mortgage rates continue to drop making new lows this week. For the past several weeks, mortgage rates and bond yields have headed down on news about the European financial crisis and a slowing of the global economic recovery. Mortgage rates and interest rates have gone down further this past week on the June 23 Federal Open Market Committee (FOMC) statement.