Mortgage Rates This Week

The average 30-year fixed mortgage rate edged up again to 6.38%.
That bump reflects continued market adjustments after recent Fed and bond moves.
Rates remain far below the 7%+ levels seen most of last year, keeping refinancing options and affordability within reach for many borrowers.

National Housing Snapshot

• Refinancing remains active, especially for those who locked loans in 2022–2023.
• Purchase demand is still cautious as affordability remains tight.
• Inventory is increasing across many parts of the country — easing pressure on buyers but creating more competition among sellers.

South Florida / Local Insight (Palm Beach + Broward)

• Palm Beach and Broward Counties continue to see inventory growth, especially in mid-price segments.
• Sellers who overprice are being pushed to reduce or withdraw listings as buyers look for value.
• While Miami-Dade shows nearly 10 months of supply, Palm Beach and Broward remain more balanced, closer to 5–6 months, favoring buyers but not fully buyer-dominated yet.

What It Means for You

Buyers:

• You likely have more room to negotiate than in years past.
• Focus on what you can afford, not chasing rate drops.
• If you find a home that meets your goals, be ready to act quickly.

Sellers:

• Accurate pricing is key — buyers are selective and informed.
• Homes presented well and priced right still move quickly.
• Overpricing can lead to delays or delisting.

Bottom Line

Rates have edged slightly higher, but buyers in Palm Beach and Broward continue to gain leverage as inventory rises.
This is one of the most balanced markets South Florida has seen in years.
Whether buying or selling, strategy and timing will make all the difference.
Talk with me today at MortgageSimplified.net to plan your move.