1. Mortgage Rates Slip to 11-Month Low

  • The average 30-year fixed mortgage rate fell to 6.50% this week—its lowest since October 2024—according to Freddie Mac.
    AP NewsFRED
  • Daily surveys align, with figures from Mortgage News Daily showing 6.45%.
    MarketWatch

2. Refinancing Gains Momentum

  • Refinancing activity is on the rise—homeowners are responding to falling rates with renewed interest.
    The Wall Street Journal
  • Refi applications rose by over 11% earlier this month, with nearly half of mortgage applications now refinancing.
    MarketWatch

3. National Purchase Demand Still Fractured

  • Despite lower rates, buyers remain cautious—full purchase activity hasn’t caught up yet.
    MarketWatchInvestopedia
  • Inventory remains elevated, giving buyers more leverage.
    Investopedia

4. South Florida: Vacation Markets Stalling

  • Seasonal and coastal markets—including Boca Raton and Miami—are cooling. Sales dropped 3% YoY in July.
    Investopedia
  • Many seasonal properties and condo units are being pulled off the short-term rental market and listed for sale, increasing supply.
    Investopedia

What This Means for Buyers & Sellers

BuyerSeller
Interest decreasing — some homeowners can refinance now and save.Pricing matters — over-listing risks stale market performance.
Inventory easing — more options, and price flexibility.Coastal and seasonal sellers may need to wait or adjust expectations.
Proceed with strategy — readiness and pre-qualification are still key.Markets vary—some segments still strong, while others are shifting.

Bottom Line:
The mortgage environment is giving buyers opportunities, especially with refi windows opening and more homes hitting the market. South Florida’s seasonal markets are shifting, offering tactical advantage to prepared buyers. If you’re thinking of making a move—on your home or your strategy—I’m here to support you.

Posted in Uncategorized