Mortgage rates are holding steady near 7%, and it looks like we’ll be seeing these levels stick around as we head toward the end of the year. For anyone considering a move in Volusia or Flagler Counties—whether you’re buying for the first time, looking to upgrade, or exploring investment options—this means affordability is still under pressure, unless inflation finally eases enough to shift the Fed’s approach.
With inflation proving stubborn and another possible Fed hike on the table, we could even see rates edge higher. Plus, wider spreads in the mortgage-backed securities market are adding more weight to borrowing costs. A real drop in rates will likely take a combination of steady progress on inflation, calmer long-term yields, positive signals from the Fed, and stronger mortgage-backed securities performance.
Right now, buyers, investors, and refinancers should plan based on today’s rates—and treat any improvement down the line as a nice bonus. Having worked through many market cycles here, I know how important it is to stay informed and flexible, so you’re ready to make the most of any opportunity that comes your way.
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