Irma Garcia - Realtor

10/24/2026

Great opportunity to buy at great price at the Vue.

10/22/2026

10/22/2026

The U.S. mortgage market is mired in its biggest recession in history.
Today, the Mortgage Bankers Association reported a purchase index of 129.2.
Down 60% from the pandemic peak and down 18% YoY.
This indicates just how few Americans are going out and buying homes with mortgages today.
Today’s levels are near the lowest ever (only a handful of weeks in 2023/24 were lower).
And demand today is even worse than during the 2008-2012 housing bust.
Shockingly, 70% of home sales are still financed with a mortgage. Showing you just how poor the demand environment is today.
The upshot is that this is a great time to get out there and make below market offers. As many sellers are desparate (inventory just hit 1.2 million nationally).”
- Nick Gerli from Reventure
https://realty411.com/how-2026s-economy-echoes-the.../
How 2026’s Economy Echoes The Summer of 2008
https://realloans.com/ See less
—

10/22/2026

Higher mortgage rates weighed on homebuying activity in September. Pending home sales declined 7.3% from August and 11.3% from a year ago, with all four regions posting declines.
https://www.nar.realtor/.../pending-home-sales-decreased...

10/21/2026

Property taxes are another cost that we need to consider when talking about housing affordability.
In Florida, median annual property taxes increased 47% between 2019 and 2024, from $2,035 to $2,993, according to Census data.
For homeowners with a mortgage, the median reached $3,353 in 2024. That’s about $280 per month just for property taxes, on top of mortgage payments and insurance.
Reducing property taxes can help lower monthly housing costs, especially in a market like Florida, where buyers now have more options. As a result, Florida’s Amendment 3 would be a driver in reducing the ongoing total cost of homeownership. Read more about how property taxes and insurance affect the cost of homeownership.

10/21/2026

Existing-home sales rose 1.5% from August but were down 2.2% from a year ago. More inventory is giving buyers greater negotiating power, while higher mortgage rates continue to limit affordability and slow sales activity. https://bit.ly/4ijxUOs

10/21/2026

Fast-rising mortgage rates in September took a harsh toll on the housing market, according to new monthly data released today.
Read more: cnb.cx/4eGf6qs

10/19/2026

While 40% of potential Gen Z homebuyers are waiting for a 4.9% mortgage rate, one of our senior economists says rates are not expected to fall below 5% for years.

10/19/2026

Fannie Mae raises 2027 mortgage rate forecast

The agency now expects mortgage rates to average 7.5% next year, up from its September forecast of 6.7%, while lowering its projections for home sales.
Fannie Mae raised its mortgage rate forecast for 2027, projecting borrowing costs will remain higher than previously estimated and home sales will recover more slowly.

In its October housing forecast, released last week, Fannie Mae’s Economic and Strategic Research Group projected that 30-year fixed mortgage rates will average 7.5% in 2027. That’s up from the 6.7% projected in its September outlook.

The revised forecast calls for rates to remain at 7.5% throughout all four quarters of 2027. It also anticipates weaker home sales and slower price growth than previously expected.

A closer look at the numbers

Fannie Mae’s latest projections show several changes to its 2027 housing outlook:

Nationlwide existing-home sales are expected to reach 4.06 million, down from the previous forecast of 4.22 million.
Total home sales, including new construction, are projected at 4.71 million, compared with 4.88 million in September.
National home price growth is expected to slow to 0.6%, down from the earlier projection of 1%.
Mortgage refinancing volume is projected at $430 billion, compared with $802 billion previously.
The revised outlook follows a recent rise in mortgage rates. This week, the average 30-year fixed mortgage rate held steady at 7.40%, ending seven consecutive weekly increases while remaining at its highest level since November 2023.

Other housing economists also anticipate elevated rates. Mortgage Bankers Association Chief Economist Mike Fratantoni told Realtor.com that persistent inflation and federal debt concerns are contributing to higher borrowing costs.

“Inflation is too high,” Fratantoni said, pointing to pressure on both short- and long-term interest rates.