This rate drop is welcome news for Georgia buyers who have been priced out by higher rates. In metro Atlanta, where median home prices have climbed past $400,000, even a 0.25% rate reduction can save buyers over $50/month. Buyers in Augusta, Macon, and Columbusâwhere affordability is already betterânow have even more purchasing power. This could be an opportune time for Georgia buyers who have been waiting on the sidelines.
News
Mortgage Rates See Best Levels in Weeks After Jobs Report
Summary
Mortgage rates dropped significantly following a weaker-than-expected jobs report, posting the best levels in several weeks. The average 30-year fixed rate fell to around 6.15%, the lowest since early January. Bond markets rallied on the softer employment data, which suggests the Fed may have more room to cut rates in the future.
đ Georgia Impact
Source: Mortgage News Daily