SE Florida:What's Really Happening with Mortgage Rates

by Yeiry (JD) Sanchez, REALTOR® & Loan Officer in SE Florida & N Georgia (The Coastal Realm )

If you've been watching mortgage rates, you know they've felt like a rollercoaster all spring. Let me cut through the noise with what actually matters right now, especially here in South Florida.-Where Rates StandThe 30-year fixed is sitting around **6.30%** — down nearly 0.70 points from a year ago, but not the sub-6% environment many expected. The Middle East conflict pushed rates to 6.64% in late March before they pulled back. Fannie Mae's April forecast now puts the 30-year at **6.3% for Q2** and **6.1% through year-end**.Don't hold your breath for a dramatic drop. Waiting for perfect rates could cost you more than acting in today's market.-Why South Florida Is a Different StoryNational headlines don't reflect what's happening here. The local data tells a much stronger story:- Palm Beach County single-family sales **up 14.3% year-over-year**- Pending sales growth for **8 consecutive months**- Out-of-state migration into South Florida **up 24% in Q1 2026**- Palm Beach County ranked **#1 in the nation** for net income inflow from domestic migrationA significant share of our buyers are cash purchasers or high earners relocating from New York, California, and New Jersey. For them, a 6.3% rate is a footnote, not a dealbreaker.-What This Means for YouBuyers: Stop waiting for 5% rates. Affordability has improved nearly 10% over the past year when you factor in modest price softening and wage growth. Come in pre-approved, and ask your lender about 2-1 rate buydowns — many sellers and builders are offering them right now to close the affordability gap.Sellers: Palm Beach County single-family is firmly a seller's market. In Broward, single-family is solid, but condo owners need to pay attention. Prices have slipped for 12+ consecutive months and Florida's SB 4-D reserve law is creating special assessment exposure in older buildings. If you're thinking about selling a condo, sooner is better.What this means?The buyers and sellers who win right now are the ones working with the market as it exists and not waiting for the one they wish they had.Questions about your specific situation? I'm happy to talk it through.By Yeiry (JD) Sanchez | eXp Luxury | Broward & Palm Beach Countyhttps://jdsanchezrealestate.com