Summary Box: Rates on 30-year mortgages hit 4.93 pct., lowest level in 2010

Summary Box: Mortgage rates hit lowest 2010 level

BIG DIP: Mortgage rates fell this week to the lowest level of the year, dipping to an average of 4.93 percent for 30-year fixed rate home loans.

MARKET TURMOIL: Fears about Greece’s precarious financial situation have benefited American consumers. That’s because U.S. mortgage rates are closely tied to interest rates paid for long-term Treasury bonds. Investors have shifted money from risky European debt to safer U.S. securities.

FED EXIT: The Federal Reserve ended a program to push down mortgage rates this spring, but rates have remained low.