It’s no secret that the nation’s mortgage rates are very low. This week, Freddie Mac’s Primary Market Survey revealed that rates sank to 3.45%, representing another three-year low in the market.

As rates continue to slide, demand has heightened, resulting in purchase and refinance volume that can only be attributed to the nation’s low-interest rate environment.

At HousingWire’s engage.talent conference, a gathering of the industry’s top leaders and talent experts, John Palmiotto, the chief retail production officer at Guaranteed Rate, sat down to explain how low mortgage rates have impacted the industry as well as his company’s business.

According to Palmiotto, America’s low rates have driven so much purchase demand, Guaranteed Rate had to expand its team and processes.