Realtor.com highlights how mortgage rates have dropped to the lowest level in almost 50 years, with the average 30-year fixed-rate mortgage at 3.29%. This rate even falls below levels seen during the Great Recession and housing crisis of 2008. Atlas CEO, Tony Julianelle comments:
A 50-basis-point cut in interest rates is very substantial. The Fed hasn’t cut rates like this since 2008… this is a fantastic time to look at refinancing or purchasing property.