Mortgage Rates & Refinancing Trends

Mortgage rates fell to 6.26% as Treasury yields eased in anticipation of a Fed Funds rate cut. After the Fed delivered a 0.25% cut, stocks rallied, Treasury yields rose, and mortgage rates edged slightly higher

Refinancing applications jumped significantly as homeowners seized the chance to lower costs or restructure debt. Adjustable-rate mortgages are also seeing more interest as borrowers explore all options.

National Housing Market Signals

  • Mortgage demand is rising, but mostly from refinancers.
  • Purchase demand is slowly improving but hasn’t fully rebounded yet.
  • Affordability remains a challenge—home prices are still elevated compared to income growth.

South Florida Snapshot

  • Inventory up: Redfin reports Florida homes for sale rose ~5.1% YoY in August.
  • Fort Lauderdale: ~560 active homes, 120 new listings in September, 2.9 months supply—healthy balance with room for negotiation.
  • Hollywood, FL: ~345 active listings, more than just a few months ago. Sellers need to price smart as buyers become more selective.

What This Means for You

Buyers

  • Falling rates + more inventory = more leverage.
  • Get pre-qualified now to act quickly when the right property comes up.

Sellers

  • Overpricing risks sitting on the market or delisting.
  • Price realistically and present your property well to stand out.

Bottom Line:
With rates at hovering around 6.26% and South Florida inventory climbing, this may be the most balanced market we’ve seen in a year. Strategy—whether buying or selling—matters more than ever.

Schedule a call today to put a plan in motion.

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