Mortgage Rates Hit a New Low

The average U.S. 30-year fixed mortgage rate dropped to 6.35% this week, the lowest level since last fall. According to the Mortgage Bankers Association, overall mortgage applications are up 9.2% week-over-week, with refinancing driving most of the surge.

National Housing Market Signals

  • Refinancing activity is rising as borrowers seize the dip in rates.
  • Purchase applications are also climbing, though affordability challenges remain.
  • Housing inventory nationwide continues to expand, softening the seller advantage.
  • Rising costs like insurance, taxes, and upkeep continue to push overall ownership costs higher, despite falling rates.

South Florida Market Snapshot

  • Active listings are up ~33.5% year-over-year (as of July).
  • Median Florida home price: $410,000, slipping slightly month-to-month.
  • Buyers are gaining leverage as more homes stay on the market for longer periods.
  • Sellers who overprice are more likely to see delistings or extended time on market.

What This Means for You

  • Buyers: Better rates + more choices = leverage. Pre-qualification is still key.
  • Sellers: Accurate pricing and strong presentation matter more than ever. Homes in prime locations (schools, amenities, commute) still sell quickly.

Bottom Line:
With rates at 6.35% and inventory rising, buyers and sellers both have opportunities — but strategy matters. At MortgageSimplified.net, We help clients and partners navigate the shifting market with confidence.

Schedule a call today to explore your options.

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