30-Year Fixed Rate Approaches 6%
Rates continue their downward trend with the 30-year fixed rate averaging 6.13% this week and the 15-year fixed rate averaging just 5.17%. This should help keep demand strong as inventory increases and winter buyers enter the marketplace in South Florida. Rates are down about 1% since they peaked in November 2022. With median sales prices still on the rise this is welcome news for many buyers looking to finance their home and condo purchases in South Florida.