REAL ESTATE NEWS:

DeSantis Proposes Florida-First Property Tax Relief

Today, Governor Ron DeSantis announced a proposal to deliver immediate property tax relief to Florida homeowners: a rebate averaging $1,000 for each homesteaded property in the state. The rebates, to be issued in December 2025, would cover state-mandated school property taxes—ensuring full school district funding while easing the burden on Florida families.

This proposal would benefit over 5.1 million homesteaded properties across Florida and marks a major step toward the Governor’s long-term goal of eliminating property taxes through a future constitutional amendment.

"Property taxes effectively require homeowners to pay rent to the government," said Governor Ron DeSantis. "Constitutional protections for Florida homeowners require approval of the voters in 2026. In the meantime, Floridians need relief. I am today proposing a plan that will result in—on average—$1,000 rebate checks for each homestead as a discount on their property taxes. If the Legislature acts on this plan now, we can get this done this year. Let’s get this done for the people of Florida this session." 

Mortgage Rates Rise to Nearly 6-Month High

Mortgage rates remain near 7%, frustrating some buyers who expected lower costs. Experts say waiting for a big drop may not pay off, as small declines are likely. 

What’s up with mortgage rates?

When mortgage rates rise they can add hundreds of dollars a month in costs for borrowers. The housing market has been in a sales slump since 2022 as elevated mortgage rates discouraged many would-be homebuyers. 

Weren't mortgage rates supposed to be lower by now? The Federal Reserve slashed the federal funds rate three times at the end of 2024, which raised expectations that the cost of borrowing would drop, too.

Instead, 30-year mortgage rates did what no one wanted them to do: They went up. Today, they're still hovering close to the 7% mark, which is significantly higher than most prospective buyers are willing to pay: In fact, nearly a third of non-homeowners (31%) said they would need a mortgage rate of less than 5% to feel comfortable buying a home

There still may be some slight relief in the future. Fannie Mae forecasts 30-year mortgage rates will close this year at 6.83% and will end 2026 at 6.03% 

Is it wise to try to time the market?

Even a small rate drop can make a difference in how much house you can afford. So, if you've been holding off on a home purchase, should you hang tight and keep a laser focus on watching rate movements? Not a great idea,

There's no guarantee that rates are going to be that much less in three or six months. Buying now decisions? There isn't much value in waiting. You could be building up equity in your home. The longer you wait the longer it will take to earn. There's less competition, if you buy now and are less likely to have bidding wars or multiple offers. 

Bottom line

While some housing market experts believe that mortgage rates may tick down toward the end of the year, it's no sure bet. Whether you're a first-time homebuyer or a seller who wants to move but has been scared off by higher rates, get used to the current 6.55% to 7% range. "Shop around for the best mortgage that you can get and do the deal," Ostrowski says. "If mortgage rates really do plunge, you can always refinance later."

The rate rose to 6.83% from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.79%.

This is the first decline in the average rate after rising two weeks in a row. The average rate has been mostly trending lower since mid-January, when it climbed to just over 7% — a welcome trend for aspiring homebuyers struggling to afford a home after years of soaring home prices.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, rose this week, however, pushing the average rate to 5.89% from 5.83% last week. A year ago, it averaged 6.11%, Freddie Mac said.

Mortgage rates are influenced by several factors, including bond market investors’ expectations for future inflation, global demand for U.S. Treasurys and the Federal Reserve’s interest rate policy decisions.