Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (786) 755-7400
Apply Now

Tag: #mortgagekeywest

What a Fed Rate Cut Could Mean for Mortgage Rates

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Economy, For Buyers, Key West Florida News, Key West News, Mortgage Rates.

The Federal Reserve (the Fed) meets this week, and expectations are high that they’ll cut the Federal Funds Rate. But does that mean mortgage rates will drop? Let’s clear up the confusion.The Fed Doesn’t Directly Set Mortgage RatesRight now, all eyes are on the Fed. Most economists expect they’ll cut the Federal Funds Rate at their mid-September meeting to try to head off a potential recession.According to the CME FedWatch Tool, markets are already betting on it. There’s virtually a 100% chance of a September cut. And based on what we know now, there’s about a 92% chance it’ll be a...

Continue reading

Patience Won’t Sell Your House. Pricing Will.

Written by Key West Mortgage Syndicated User on . Posted in For Sellers, Home Prices, Key West Florida News, Key West News, Selling Tips.

Waiting for the perfect buyer to fall in love with your house? In today’s market, that’s usually not what’s holding things up. And here’s why.Let’s be real. Homes are taking a week longer to sell than they did a year ago. According to Realtor.com:“Homes are also taking longer to sell. The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on market.”Part of that is because there are more homes on the market. So, with more...

Continue reading

Mortgage Rates Just Saw Their Biggest Drop in a Year

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Economy, First-Time Buyers, For Buyers, Key West Florida News, Key West News, Mortgage Rates.

You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year.What Sparked the Drop?According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result.Basically, we’re seeing signs the economy...

Continue reading

Why 50% of Homes Are Selling for Under Asking and How To Avoid It

Written by Key West Mortgage Syndicated User on . Posted in For Sellers, Home Prices, Key West Florida News, Key West News, Selling Tips.

If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it. From Frenzy to “Normal”Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality.But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market needed a reset, and data shows that’s exactly what’s happening right now.The...

Continue reading

Thinking About Renting Your House Instead of Selling? Read This First.

Written by Key West Mortgage Syndicated User on . Posted in For Sellers, Key West Florida News, Key West News.

If your house is on the market but you haven’t gotten any offers you’re comfortable with, you may be wondering: what do I do if it doesn’t sell? And for a growing number of homeowners, that’s turning into a new dilemma: should I just rent it instead?There’s a term for this in the industry, and it’s called an accidental landlord. Here’s how Yahoo Finance defines it:“These ‘accidental landlords’ are homeowners who tried to sell but couldn’t fetch the price they wanted — and instead have decided to rent out their homes until conditions improve.”Why This Is Happening More Often Right NowAnd...

Continue reading

What Everyone’s Getting Wrong About the Rise in New Home Inventory

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, Key West Florida News, Key West News, New Construction.

You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary.But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely.Why This Isn’t Like 2008While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because...

Continue reading

History Shows the Housing Market Always Recovers

Written by Key West Mortgage Syndicated User on . Posted in Economy, For Sellers, Forecasts, Key West Florida News, Key West News, Selling Tips.

Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market.And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s hard when you feel like the market isn’t working with you. But while slowdowns...

Continue reading

Should You Still Expect a Bidding War?

Written by Key West Mortgage Syndicated User on . Posted in First-Time Buyers, For Buyers, Key West Florida News, Key West News.

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below):This trend means you should face less competition when you buy. That gives you more time to make decisions and the...

Continue reading

From Frenzy to Breathing Room: Buyers Finally Have Time Again

Written by Key West Mortgage Syndicated User on . Posted in Buying Tips, First-Time Buyers, For Buyers, Key West Florida News, Key West News.

If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.But here’s what you need to know: those days are behind us.Today’s market is moving slower, in the best possible way. And that’s creating more opportunity...

Continue reading

Condos Could Be a Win for Today’s Buyers

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Buying Tips, Downsize, First-Time Buyers, For Buyers, Home Prices, Inventory, Key West Florida News, Key West News.

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in.For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location.And right now, condos are one of the most buyer-friendly parts of the market.Condo Inventory Is Up, And That Means More ChoiceAccording to the National Association of Realtors (NAR),...

Continue reading