If you're searching for the current state of the Miami real estate market or South Florida mortgage rates this week, here's the honest read. Despite everything rates did this summer, homebuyer demand didn't leave the building. Freddie Mac's own chief economist put it plainly this week: purchase demand has remained relatively stable, with buyers adapting to conditions rather than abandoning the market.
And across Miami-Dade and Broward County, the single-family housing market is holding its ground: metro single-family inventory has tightened sharply year-over-year while median list prices have climbed roughly 6.5%. Translation for your listings: serious buyers are competing for a thinner shelf. Correctly-priced single-family product is still moving.
The national average 30-year fixed interest rate hit 6.71% this week per Freddie Mac's survey — up from 6.66% and the highest reading in 13 months. (That figure is an average interest rate, not an APR; APRs run higher and vary by loan.)
You're feeling the result at the kitchen table: payment sticker shock. Buyers who fell in love at 6.2% math are hesitating at 6.7% math, and deals that should close are stalling on the monthly number.
When the objection is the payment, don't fight about the price — restructure the payment. This week's move for stalled deals: instead of a price reduction, negotiate a seller-paid 2-1 buydown.
How it works: the seller credits funds at closing that lower the buyer's payment rate by 2 points in year one and 1 point in year two, then the note rate applies from year three on. The buyer gets breathing room in the exact years the sticker shock lives; the seller often spends less than the price cut they were about to give; and the deal closes.
It's the conversation that turns "we need to think about it" into "we can make that work." If you've got a buyer stuck on the payment, this is the structure to bring up this weekend — and I'll run the exact numbers for them, no pressure, in both English y Español.
What is the average 30-year mortgage rate right now (September 2026)?
The national average 30-year fixed interest rate is 6.71% for the week of September 3, 2026, per Freddie Mac's Primary Mortgage Market Survey — the highest in 13 months. The 15-year average is 6.04%. These are national average interest rates, not APRs; your rate and APR depend on credit, program and fees.
Is the Miami housing market slowing down in 2026?
It's split. Single-family inventory in the Miami–Fort Lauderdale metro has tightened sharply year-over-year with median list prices up about 6.5%, while the condo market carries roughly 12+ months of supply — a buyer's market with real negotiating leverage.
How does a 2-1 buydown work in Florida?
A seller-paid 2-1 buydown is a closing credit that funds a lower payment rate: 2 percentage points below the note rate in year one, 1 point below in year two, then the full note rate from year three on. It often costs the seller less than a price cut while solving the buyer's monthly-payment objection. Availability depends on loan program and underwriting approval.
Who writes this market update?
Ronald Cepeda is a bilingual (English/Español) mortgage loan officer in South Florida — NMLS #407464, FL License LO35864 — with Pioneer Mortgage Funding (NMLS #1980), serving Miami, Fort Lauderdale, Hollywood, Aventura, Miami-Dade, Broward and Palm Beach counties. He specializes in Non-QM lending: bank statement loans for self-employed buyers, DSCR investor loans, foreign national loans, jumbo, new construction and zero-down doctor loans. Reach him at (305) 785-3915 or applywithronald.com.
Send it to me. I'll find the structure that closes it.
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