The 30 year fixed rate mortgage has dropped to an average of 6.35%. This is the largest weekly drop we’ve seen in a year and the lowest rates we’ve had since since October of 2024. Freddie Mac is reporting that buyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than 4 years.
What does this mean for buyers in South Florida? Simply put, this could be the best buying opportunity we’ve seen in years. It is already a buyer’s market with plenty of inventory to choose from. If you are planning on financing your purchase, then now might be the perfect time to get back into the market. Call your Realtor and loan officer. We are here to help.
