Mid-July Financial Flash

Rate Watch: Five-Week Decline Continues as Market Dynamics Shift

Quick Market Update by Vernice K. Bell, The Listing & Lending Strategist™

Mortgage Rate Movement: Freddie Mac reports 30-year fixed rates averaged 6.77% for the week ending June 26—marking five consecutive weeks of decline. Florida-specific rates average 7.00% for 30-year fixed mortgages, with 15-year rates at 6.25%.

Market Pulse:

• Palm Beach County inventory: 6,503 active listings (+29.6% YoY)
• West Palm Beach median: $488K (+4.4% YoY)
• Days on market: 84 days average
• Market competitiveness: 15/100 (Redfin scale)

Rate Forecast: Fannie Mae predicts rates dropping to approximately 6.3% by year-end 2025, potentially bringing sidelined buyers back to market in Q4.

Strategic Takeaway: Five-week rate decline combined with expanding inventory creates buyer-favorable conditions. Sellers must price competitively for current market realities, not historical peak performance.

Key Listings Update: Luxury waterfront properties ($1M+) continue outperforming market averages, while mid-tier inventory ($400K-$800K) faces increased competition from expanded supply.

Track real-time market opportunities with Vernice K. Bell's strategic market insights.

Sources: Freddie Mac PMMS, Redfin, BeachesMLS, Fannie Mae Economic Forecast