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Mortgage rates slammed into a 50-plus-year low Thursday, reflecting continuing concerns over European sovereign debt crises, the potential for defaults overseas, and an overall economic slowdown. Mortgage giant Freddie Mac posted a 4.15-percent average for 30-year fixed-rate loans, racing past the record 4.17-percent drop it registered in 2010. Citing the same reasons for new lows, Bankrate followed suit by revealing declines in fixed-rate mortgages for a third straight week. The rates continue on fears of a recession.

Mortgage applications jumped by 4.1 percent this week, up from one week earlier, reflecting rock bottom for 15-year fixed-rate loans and unsure homebuyers still eager to refinance. Meanwhile, home purchases fell, according to a weekly survey made public by the Mortgage Bankers Association. Good for mortgage rates, the low numbers persist in driving few homebuyers back to a jumpy and uncertain market. Contract rates for 15-year loans fell hit rock bottom for the first time in the history of the survey.

MortgageFlex Systems, Inc. has added a new client to its admirable roster, recently signing Guardian Mortgage Company, Inc. to enhance its origination processing requirements and streamline communications.

Van Eck Global is enhancing its product offerings, recently debuting its Market Vectors Mortgage REIT Income exchange-traded fund, dubbed MORT in company lingo. The new program will give users play exposure to REITs.

Once the star of the American Dream, homeownership has fallen on hard times, a victim of the financial crisis and wary homeowners. With home sales at record lows despite rock-bottom mortgage rates and home prices, some say a country once beholden to the mortgage note is now a nation at the behest of landlords. The story sets up a classic whodunit, begging the question: Who set up homeownership to take the fall? Apartment vacancies continue to plummet alongside home prices around the country.

Mortgage giant Freddie Mac released an economic outlook Tuesday that portrays the housing economy as one cramped by recent turmoil, with less-than-favorable signs for a recovery despite historically low interest rates and home prices. Comparing the economy to a roller coaster, the outlook forecasts a long ride ahead for a gasping recovery, with interest rates and home prices sure to remain low. The outlook cites employment numbers, economic growth, mortgage rates, and home prices.

Volatile markets and low home sales are colluding to force mortgage rates to historic lows and sellers to mark off home prices, making actual home purchases less expensive than renting in cities across the United States. Buying a home fell below renting costs in 74 percent of the country's 50 largest cities over July, with 12 percent of cities seeing higher price tags for apartments than for houses, according to real estate Web site Trulia. Bottom line: Peak numbers for home affordability make closing on rates a better deal.

Ellie Mae. is growing its customer base and mortgage origination facilitation through the acquisition of Del Mar DataTrac, Inc. The recently announced transaction is projected to increase Ellie Mae's market share, putting them on track to originate nearly 30 percent of all residential mortgages in the U.S. this year.

WFG National Title Insurance Company has a new vice president of sales and marketing, with the hiring of Wendy Lunt. Lunt├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós appointment is WFG├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós most recent step in growing its newly acquired Puget Sound division.

The market remains a dim one for new single-family homes, according to an index jointly released by Wells Fargo and the National Association of Home Builders. The index registered confidence at 15 on a 0-to-100 scale, staying largely the same since July. The low confidence follows a hit taken by homebuilding companies in the stock market last week. Analysts and economists weighed in with MReport about how slowing momentum in home construction and sales, as reflected by homebuilder confidence, impacts job creation and consumer confidence.