Category: Affordability

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Want a More Affordable Home? Don’t Overlook Condos.

Written by Fidelity Home Group Syndicated User on October 19, 2026. Posted in Affordability, Buying Tips, First-Time Buyers, Florida Mortgage, Florida Mortgage Rates, For Buyers, Mortgage Florida, Rent vs. Buy.

When you picture buying your first home, chances are you’re imagining a traditional single-family house with its own yard, maybe a garage, and little extra room to grow. But with affordability still tight, getting everything on that list right away may come with a higher price tag than you’re comfortable with right now.

So, if you’re running the numbers and buying a house like that feels like a stretch, there may be another way in. A condo.

Because in a lot of markets, condos come with a significantly lower price tag. And that could make them a smart way to get your foot in the door.

Condos Can Cost Less Than You Think

According to a recent study by Zillow:

“Condos are the most commonly affordable home type in virtually every metro. At the starter level, the savings can be pretty significant. Nationally, starter condos average $197,468 — that’s about 6% less than the typical starter home.”

And depending on where you live, the difference can be much bigger.

Zillow identified metro areas where typical starter condos are priced significantly below the estimated home price a median-income household could afford. Here are the top 10 according to that research (see chart below).

In Houston, the gap is at its widest. There, a typical starter condo was valued at about $85,600 – 72% below the price considered affordable based on the area’s median household income.

a blue and white chart with white text

Of course, every market is different. But the bigger point is this: if you’ve only been searching for traditional single-family houses, you may be overlooking some of the more affordable options on the market.

And even if your city didn’t make this list, that’s okay. The trend holds true in many places across the country. Here’s why.

A Condo Could Give You a Different Way In

Part of the reason condos can cost less is pretty straightforward. They’re typically smaller. And less square footage can mean a lower purchase price.

So, if you can make do with a bit less space or you’re coming from a smaller apartment now, this can be a great way in. Plus, on the upside, you won’t have to buy a ton of furniture to fill out a bigger house. You can get a potentially lower price up front and spend less once you move in because you’ll need less new stuff to fill that empty space.

And more buyers are making that trade off on space to offset the current affordability challenges. Ali Wolf, Chief Economist for New Home Source, explains:

“In addition to favoring smaller floor plans, more consumers are showing a willingness to live in an attached home. This shift is not driven by a preference for shared walls, but by a pursuit of value.”

That’s really the heart of it. Looking at condos isn’t necessarily about wanting less. It’s about finding another way to make your move happen with the budget you have.

Don’t Rule Out an Option That Could Work

If you’ve been struggling to find a house you like at a price you can comfortably afford, talk to your agent about adding condos to your search.

You may find something in a neighborhood you thought was outside your budget. You could get access to amenities you wouldn’t otherwise have. And you may be able to become a homeowner sooner rather than waiting for the numbers on a single-family house to work.

While there are trade-offs like shared walls, less outdoor space, and an HOA fee to factor into your monthly budget, maybe that’s worth it if you finally get your own set of keys.

Plus, a lot of the times, a condo community comes with great amenities like pools, gyms, and the condo association handles at least some of the maintenance. Which is closer to what you’re used to from your apartment – it could make the transition to homeowner not just more affordable, but that much easier too.

Bottom Line

The first home you buy doesn’t have to be a single-family house. If affordability has been holding you back, talk to a local agent about expanding your search and see whether a condo could fit the price point you’re looking for.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

Why Most People Are Still Glad They Bought a Home

Written by Fidelity Home Group Syndicated User on October 15, 2026. Posted in Affordability, Equity, First-Time Buyers, Florida Mortgage, Florida Mortgage Rates, For Buyers, Home Prices, Mortgage Florida, Rent vs. Buy.

With everything going on, it’s understandable if you’re wondering if you’d regret buying right now.

Everyday expenses cost more. Mortgage rates are higher than you’d like. And when the economy feels uncertain, taking on a mortgage can feel like a much bigger leap. But here’s some perspective that may help…

Most people who already made that leap would do it again.

According to a recent survey from NerdWallet, the vast majority of recent buyers (74%) were glad they bought their current home. Only a very small 3% of people regret it:

a graph with text on it

And here’s a big reason why so many people feel it was worth it, even now.

Homeownership Is a Long-Term Play

When you’re deciding whether to buy, it’s easy to focus on what’s happening right now. What’s today’s mortgage rate? Are prices going up or down? Those things matter. But don’t get so caught up in buying in the perfect moment that you miss the bigger picture.

A home isn’t typically something you buy for just a year or two. It’s a longer-term play. And when you zoom out, it all starts to fall into perspective – especially if you look at home prices and equity.

According to data from the Federal Housing Finance Agency (FHFA), home prices nationally have risen 33.4% over just the past five years (see map below):

a map of the united states

And that appreciation has helped current homeowners build some serious wealth. Research from Bankrate shows homeowners gained an average of nearly $150,000 in wealth over the past five years as equity steadily rose across 90% of major metro areas.

That’s one of the biggest benefits of homeownership. As you pay down your mortgage and your home appreciates over time, your ownership stake – your equity – can grow.

Now, Zoom Out Even Further

The five-year numbers are impressive. But the numbers get even more dramatic when you look at decades instead of individual market cycles.

FHFA data shows home prices nationally have risen 336% since 1991. Sit with that for a second. Three hundred percent (see map below):

a map of the united states with numbers and a number of states

That doesn’t mean prices go up every single year. And it doesn’t mean buying is automatically the right decision for everyone today. You should only buy when the numbers (and the payment) work for you.

What it does show is why trying to perfectly time the market can make you miss the bigger picture.

Over time, homeowners gain a lot of equity. And that equity can eventually become a powerful financial resource. As Freddie Mac explains:

“Your home’s equity is part of your total wealth as a homeowner. If you decide to sell your home, the equity you have built over time will come back to you in the sale. . .
If it’s time to upsize or downsize, you can use that cash for the down payment on your next home.”

Basically, if you can afford to do it, buying a home now could set you up for future moves.

And just in case you’re someone who’s worried about what happens if prices do fall, after you buy, remember: you’re not buying for one year.

Prices can dip. They have before. But historically, they’ve risen far more over the long run. And the longer you own your home, the more time you have to ride out those ups and downs and keep building equity.

Bottom Line

Don’t let today’s uncertainty make you lose sight of what homeownership can do over time. Most homeowners say they’d make the same choice again. And decades of home-price growth help explain why.

If you’re wondering whether buying makes sense for you right now, connect with an agent to look at the numbers together – and what owning a home could mean for you in the years ahead.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

The Mortgage Rate You See Online Isn’t Necessarily the One You’d Get.

Written by Fidelity Home Group Syndicated User on September 29, 2026. Posted in Affordability, Buying Tips, First-Time Buyers, Florida Mortgage, Florida Mortgage Rates, For Buyers, Mortgage Florida, Mortgage Rates.

You may have seen the headlines saying mortgage rates have climbed to the highest point since January 2025. And if that’s left you reluctant to buy a home, here’s what you need to remember…

That’s not necessarily the number you’d get.

It’s a common misconception that the rate you see in the headlines is the same one you’d get when you buy. The truth is, mortgage rates shift often, and the rate you actually end up with can vary a lot from what you may see or hear about.

What Determines Your Real Rate?

Advertised rates and “real rates” aren’t always the same. That’s because real rates are based on your specific situation, which includes your overall finances and goals. The rates you see in the headlines can’t possibly reflect that.

That’s why only a lender can tell you what your real rate will be. To figure out your unique number, they’ll look at:

Your credit score: Your credit score includes your payment history (if you’ve made late payments – and how often), credit utilization (are your accounts maxed out, or do you have available credit?), and the length of your credit history (how long have your accounts been open?). For example, someone with an exceptional credit score may qualify for a better rate.
Your debt-to-income ratio (DTI): This is calculated by dividing your monthly debt payments by your monthly income before taxes to come up with a percentage. The higher your DTI, the higher your rate could be.
The down payment size and Loan-to-Value (LTV): Your down payment is the percentage of the home’s price you will put down. The LTV is the percentage of a home’s sales price that equals your mortgage.
The type and term of loan program options: Your loan officer will walk you through different loan options based on what you qualify for. Mortgage rates can vary between different loan products and programs.

Even after you find a home you love, other things can have an impact too. For example:

A mortgage rate buydown: This helps you get a lower mortgage rate, and by extension, a lower monthly payment, by paying an upfront cost. Sometimes a seller, builder, or another party may even offer to cover that cost themselves as an incentive for you to buy.
Seller concessions: Sellers are allowed to pay buyer closing costs according to most loan program guidelines. Seller-paid closing costs can add up to thousands of dollars, which can free up some cash for you to increase your down payment, pay down debt, or make other financial adjustments to try to get a better rate.

There’s a lot that can ultimately have an impact on your actual rate.

Your First Step? Getting Pre-Approved.

If you want to know if your number could be higher or lower than the headlines on social, you need to talk to an expert. A simple conversation with a loan officer can help you determine when you’ll be ready to buy, how much you can borrow, and of course, what your real rate will be.

Your lender may recommend a pre-qualification and pre-approval:

Pre-qualification is a general estimate of what you might be able to borrow based on self-reported information.
On the flip side, pre-approval is actually a conditional commitment from a lender based on verified information.

Just know that, of the two, the pre-approval process gives you a more accurate picture of your options than pre-qualification. Bankrate gives a quick comparison so you can see why:

a blue and white chart with white text

How To Get Ready for the Conversation

Ask your lender what documents you’ll need to gather for that conversation. And keep these questions in your pocket too. They’re good things to go over when you talk:

What will I gain or lose by waiting to buy a home for 3, 6, or 12 months?
Will I get any tax advantages by buying a home – and what are they?
What’s the benefit of buying a home and starting to build equity now versus waiting? And how does that impact my finances in the long run?
How will rate changes in either direction affect me?

Once you find out your rate, maybe you can buy now. Or maybe you still need to wait. But at least you’d know your options and can make an informed decision.

Bottom Line

Headlines and social media make today’s rates sound high. But you have to remember, the rate you’re seeing online and your actual rate could be different. The only way to know what your rate could be is to talk to a trusted lender.

With the right help, you can find out what your real rate is – and where it can take you.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

Why So Many Sellers Are Cutting Their Price Right Now

Written by Fidelity Home Group Syndicated User on September 24, 2026. Posted in Affordability, Agent Value, Buying Tips, Florida Mortgage, Florida Mortgage Rates, For Buyers, For Sellers, Home Prices, Mortgage Florida, Price It Right/Overpricing, Selling Tips.

Price cuts are turning up everywhere right now, and they read very differently depending on which side of the deal you’re on.

Sellers tend to worry a cut means walking away with less than they hoped. Sometimes that’s true, but more often it just means the market moved faster than the listing did.

Buyers, for their part, often assume a cut means something’s wrong with the house. Most of the time, that’s not it.

This is what’s actually driving all those price cuts, and why it matters no matter which side of the deal you’re on.

42% of Homes for Sale Are Now Carrying a Price Cut

According to HousingWire Data, the share of sellers cutting their asking price has climbed every month for 7 straight months (see chart below):

a graph showing the growth of a straight month

Today, more than 4 in 10 active listings have had at least 1 price cut, and the typical seller is cutting about $17,560 off their original number.

Here’s why that’s happening. With rates still elevated and more homes to choose from, buyers can afford to wait for the right number. So, sellers who don’t start there often end up adjusting anyway.

What does that mean for you?

If you’re selling, this isn’t a red flag. But it is a sign that pricing it right from day 1 is your best bet. Just know that the market’s been shifting fast enough this year that sometimes even a well-priced house can fall behind within a matter of weeks. If that happens to you, dropping your price to catch up to where pricing actually stands today tends to bring in more buyers and helps you sell closer to true market value.
If you’re buying, it’s easy to assume a price cut means something’s wrong with the house. But with cuts happening on more than 4 in 10 homes right now, the reality is sellers are just catching up to where the market already is. And with affordability still tight, that’s exactly the kind of opening you need to get a better deal.

Why Sellers Are Adjusting Faster than Before

HousingWire Data also shows list prices are trending down nationally. That’s often a sign sellers are pricing more realistically from the start instead of listing high and getting stuck cutting later. List prices have fallen about $26,000 from last year’s peak.

Some of that decline is seasonal, since list prices typically soften each winter before rebounding in the spring. So, expect asking prices to keep drifting a little lower before turning back around (see chart below):

a graph of a number of people

Jake Krimmel, Senior Economist at Realtor.com, explains:

“That is good news for buyers, who are seeing lower asking prices and more room to negotiate, but it is also good news for sellers: Pricing to today’s demand is helping homes move and keeping more transactions alive in a high-rate environment.”

Translation – with rates still elevated, buyers can only stretch so far. Sellers who meet them where they are instead of holding out for unrealistic prices are the ones actually getting to closing. And doing that up front is always better than chasing the market later.

Buyers, You’ve Got Room To Negotiate Again

At the same time, Redfin data shows sellers now outnumber buyers by about 58%, the widest gap on record (see chart below):

a graph of sales

That changes the power dynamics of the market – and impacts how homeowners should price their house. Nationally, about 7 in 10 markets now favor buyers or are trending that way.

For sellers, that means standing out matters as much as pricing. With more homes to choose from, buyers are comparing you directly against the competition. So, a little flexibility, like covering closing costs or being open on timing, can be what gets your house picked over another.
For buyers, it means more room to ask for a lower price, help with closing costs, repairs after inspection, or some combination of all 3. That’s especially true for homes that have already sat for weeks, where sellers are often the most willing to talk.

Bottom Line

Price cuts are a normal part of today’s housing market, and both buyers and sellers can use them to their advantage. Connect with a local real estate agent to look at what’s actually happening with prices in your neighborhood, so you know exactly where you stand before you list or make an offer.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

3 Things You Can Actually Control About Your Mortgage Rate Right Now

Written by Fidelity Home Group Syndicated User on September 23, 2026. Posted in Affordability, Buying Tips, Florida Mortgage, Florida Mortgage Rates, For Buyers, Mortgage Florida, Mortgage Rates, New Construction.

If you’re trying to buy a home, affordability is probably what keeps you up at night. And as you watch mortgage rates tick up again lately, it’s fair to wonder if you should just hit pause and wait for them to go down.

For now, though, they’re headed the other way. Mortgage News Daily data shows how rates have risen this year (see graph below):

a graph of a moving rate

And if you’re wondering why? There are actually a number of reasons.

Mortgage rates are impacted by the situation overseas, economic data, inflation numbers, oil prices, and even decisions from the Federal Reserve (who recently decided to hike their Fed Funds Rate – which often affects mortgage rates too). As Danielle Hale, Chief Economist at Realtor.com, explains:

“The pressure on mortgage rates was here even before the Fed rate hike, and it doesn’t show signs of relenting. . .”

Now, that’s probably not what you wanted to hear. But, it doesn’t mean there’s nothing you can do. While you can’t control where rates go from here, you absolutely can control several things that shape the rate you actually get.

So where should you focus? Let’s walk through it.

Work on Your Credit Score

Your credit score plays a big role in the rate you qualify for, and even a small improvement can make a real difference in your monthly payment. As Freddie Mac puts it:

“Generally, the higher your credit score the more options will be available to you, including better loan terms and a lower interest rate.“

So, make sure you do what you can to keep your credit score up. If you’re not sure where your score stands right now, or how to improve it, talk to a trusted loan officer.

Explore Your Loan Options

The type and term of your loan both affect your rate. Conventional, FHA, VA, and USDA loans each come with their own requirements and rates, and your term (15, 20, or 30 years) changes both your payment and the total interest you’ll pay. The structure matters, too. A fixed-rate loan holds the same rate over time, while an adjustable-rate loan usually starts lower and can move later on. Bankrate explains it this way:

“. . . rates on fixed-rate loans are typically higher than introductory rates on adjustable-rate loans because the fixed-rate lender takes on the risk that rates could increase during the loan’s term. Likewise, government-backed FHA, VA and USDA loans sometimes have lower rates because they have a government guarantee or insurance that cuts the lender’s risk.“

It’s important to explore your options with a lender to see what makes the most sense for you. Just be sure to balance your goals, your possible rate, and any potential tradeoffs before making any decision. You may even want to talk to multiple lenders to see how the options vary.

Consider a Newly Built Home

Another path to a lower rate comes down to the kind of home you buy. Many builders are buying down mortgage rates, which lowers your monthly payment. It’s just one way they’re trying to attract buyers and get their homes sold.

According to Realtor.com, buyers of newly built homes landed a lower average rate last quarter than buyers of existing homes (see graph below):

a graph of a graph showing a number of houses

If a lower rate is your goal, it may be worth asking your agent to show you some new build communities that are offering this type of incentive locally.

Bottom Line

You can’t control where mortgage rates go, but you can control your credit, your loan, and the kind of home you buy. Working with a trusted lender can help you lock in the best rate you qualify for. And when you’re ready to make a move that fits your budget, connect with a local real estate agent.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

The Best Time To Buy a Home in 2026 Is Almost Here

Written by Fidelity Home Group Syndicated User on September 16, 2026. Posted in Affordability, Buying Tips, First-Time Buyers, Florida Mortgage, Florida Mortgage Rates, For Buyers, Mortgage Florida, Mortgage Rates.

Want to buy a house this year, but not sure if the timing’s right? Seasonally, it may actually be a better time to buy than you expect.

Yes, mortgage rates have been ticking up lately – and that’s creating some real challenges with affordability. No one’s arguing that. But there are also predictable trends that happen this time every year that can put some wind back in your sails.

According to research coming out of Realtor.com, nationally, the week of September 27 – October 3 will be the best time to buy this year for this very reason:

“The week of September 27–October 3 brings together the market conditions buyers value most—elevated inventory, less competition and prices that have eased from their seasonal high—giving prepared buyers a way to offset high rates with savings on price and room to negotiate with confidence.”

But that’s the national best week. Depending on where you live, your local sweet spot may come a little earlier or later (see map below):

a map of the united states with pins

It all depends on local trends and how inventory and buyer demand ebbs and flows seasonally where you want to live. But no matter when your market hits its peak, here are some of the perks you can expect this time of year.

More Choices, Better Prices, and Less Competition

For starters, there are more homes to choose from. In fact, data from the National Association of Realtors (NAR) shows the number of homes for sale recently reached its highest level in more than 10 years:

“NAR’s data does show a strong uptick in for-sale inventory at the end of the summer, reaching the highest level in more than 10 years.”

That means you may have a better shot at finding something you love and can afford without making as many compromises. And that’s not the only advantage.

Realtor.com says buyers during this window could see home prices about $14,000 lower than the summer peak, along with 30% less competition from other buyers. Plus, homes tend to stay on the market almost 2 weeks longer (13 days), giving you a little more breathing room to make a decision.

More choices.
Better pricing.
Less competition.

That combination could be enough to ease some of the pressure higher mortgage rates are putting on your budget.

The Window Doesn’t Close After This One Week

But you certainly don’t have to buy during that very specific window. This isn’t a one-week-only opportunity. History tells us conditions should be tipped in your favor for the entire month of October:

a graph on a dark background

In fact, Realtor.com says 42 of the 50 largest metros see their best week to buy fall sometime during October. So, don’t feel like you have to rush to hit one specific date. Use the time now to get things lined up, then jump in when the timing is right for you. As Guaranteed Rate explains:

“The best time to buy a home depends on your needs. Certain seasons can give you an advantage when starting your homebuying journey.”

Bottom Line

If you want to buy a house this year, there’s still a way to make it happen, even with today’s rates. This fall gives you the chance to get some of the best seasonal perks the market has to offer.

Want help figuring out when those advantages typically show up in your market?

Have a quick conversation with a lender and a local agent about how your market works and the steps you’ll need to take to get ready.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

Why Buyers Shouldn’t Overlook a Fall Move

Written by Fidelity Home Group Syndicated User on September 4, 2026. Posted in Affordability, First-Time Buyers, Florida Mortgage, Florida Mortgage Rates, For Buyers, Home Prices, Inventory, Mortgage Florida, Mortgage Rates.

You’ve been waiting for something to change before you buy. It just might not be the thing you expected…

While everyone’s paying attention to mortgage rates, only the savviest buyers know that the changing season can start tipping things in their favor.

Because every fall, buyers tend to get more to choose from, better prices, and more room to negotiate. And that’s why Hannah Jones, Senior Economist at Realtor.com, says:

“We always see that the best time to buy window usually falls in the early fall around October.”

And that’s exactly why, if you’ve been waiting for a better moment to buy, this season may be worth a closer look – even with rates where they are.

1. There Are More Homes To Choose From

One of the biggest frustrations buyers have had over the past few years has been a lack of choices. Fall tends to help with that.

Based on seasonal trends, Realtor.com data shows there are typically more homes available for sale in September through November than during any other season of the year (see graph below):

a graph of a number of homes Why does this happen? Homes that hit the market in spring and summer don’t all close right away. Some sit. New listings keep coming. And inventory builds as the year goes on.

By fall, you’re looking at the largest pool of available homes all year. That makes it easier to find one that works for your needs and your budget. And if anything, this should be more true this year. Rates that are higher for longer tend to help inventory grow even more.

More choices can mean fewer compromises. You’re more likely to find the right home, not just the one that happens to be available.

2. Asking Prices Start To Drop

Having more choices is great. But if every home is still priced too high, that only gets you so far. That’s where fall’s second advantage kicks in: asking prices start their seasonal decline.

HousingWire data shows this trend over time (see graph below):

a graph of a number of blue and green bars It works like this. Spring and early summer are when sellers feel the most confident because that’s when demand is typically strongest. So, many homeowners price their homes higher during those periods because of the uptick in demand.

But every year, like clockwork, that dynamic starts to change by fall. Buyer activity slows down as the weather cools off. So, sellers have to price a bit lower to try to draw buyers in. And that’s good for your bottom line.

3. More Sellers Are Willing To Negotiate

But fall doesn’t just bring more choices and lower asking prices. It also brings more sellers who are increasingly motivated to get a deal done.

You can see it in the data. Most years, fall is when price cuts peak according to Realtor.com data (see graph below):

a graph of sales with numbers and text

While it’s not a big difference from summer, this fall you’ll have more negotiation power than you’d have if you wait until the first half of 2027. Here’s why.

If a home is on the market in the fall, many sellers are eager to get it sold before the holidays. And since there are usually fewer buyers active in the fall, that often leads to another opportunity to snag a better deal. As the National Association of Realtors (NAR) explains:

“Less competition can lead to better deals. While homes are not selling as fast as during the summer, sellers may be more willing to negotiate.”

Even a small seller compromise here can make a meaningful difference for you.

As an example, a 5% price drop on a $500,000 home is $25,000. That could mean you end up borrowing less, keeping more money in savings, having room in the budget for updates after you move in, or simply making the monthly payment feel more manageable.

Bottom Line

Of course, every market moves a little differently. But here’s what doesn’t change: Fall consistently buyers. More homes. Lower asking prices. Motivated sellers.

If you’ve been waiting for your search to feel a little more doable, this season may be worth another look.

Have a quick conversation with a local agent about what’s happening in your market. That way you can find out whether this fall gives you opportunities you may not have had a few months ago.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

Think New Homes Cost More? Not Right Now.

Written by Fidelity Home Group Syndicated User on September 4, 2026. Posted in Affordability, Agent Value, Buying Tips, Florida Mortgage, Florida Mortgage Rates, For Buyers, Home Prices, Mortgage Florida, New Construction.

Most people think a newly built home costs more than an existing one. But right now, that’s actually backwards. Newly built homes are more affordable than existing ones in a lot of markets. And that’s because builders are cutting prices and stacking on incentives to try to keep their inventory moving.

Here’s why that’s really important for any would-be homebuyer to know.

Newly Built Homes Are the Better Deal Right Now

According to the latest data from the Census and the National Association of Realtors (NAR), a newly built home now typically costs about $40,000 less than an existing one (see graph below):

a graph of a house cost Builders aren’t like homeowners who can wait for the right offer. Unsold homes cost them money as long as they sit empty. So, builders cut prices and add incentives to keep them moving. That trend has carried into August. NAHB’s latest numbers:

35% of builders cut prices, with an average reduction of 6%.
63% offered incentives like covering closing costs or buying down your mortgage rate.

And those incentives can make a real dent in what you pay upfront and every month after. Plus, since everything is new and many builders offer warranties, you could save on home maintenance costs too. And with affordability where it is, every dollar counts.

So, don’t cross new builds off your list just yet. Yes, you may think they cost more, but that’s not always the case.

If you can get brand-new everything for less than buying an existing home, isn’t that at least worth looking into?

Don’t Let the Builder Pick Your Teammate

But before you tour a single model home, there’s one thing worth figuring out first – who’s actually working for you once you walk through that door.

That friendly rep in the builder’s sales office works for the builder, not you. Their job is to protect the builder’s bottom line, not yours. Your own agent flips that.

They know the local market, so they can tell you if the builder’s price and upgrades stack up against other options nearby. They’ll negotiate on your behalf, whether that’s a lower price, free upgrades, or a rate buydown.

A good agent will also push for a home inspection. Builders won’t always bring it up, but it’s a step you shouldn’t skip, even on a new build. And your agent will be in your corner, so you know what you’re buying and get the best deal possible.

Bottom Line

New homes may actually cost less than an existing home right now. And that’s opening up a window for you to get brand-new for less.

If you want a list of new home communities near you that are currently offering incentives or doing price cuts, reach out to a local agent. When you have your own agent, you’ll have someone in your corner helping you get the best deal possible.

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

Thinking About Tapping into Your 401(k) To Buy a Home? Read This First.

Written by Fidelity Home Group Syndicated User on September 4, 2026. Posted in Affordability, Buying Tips, First-Time Buyers, Florida Mortgage, Florida Mortgage Rates, For Buyers, Mortgage Florida.

Lately, headlines have floated an eye-catching idea about tapping into your 401(k) to cover a down payment on a home. Maybe you’ve caught the buzz and wondered whether that money could get you into a home faster, especially with affordability as tough as it is.

Here’s what you need to remember. Pulling from your retirement savings is a big decision, so take time to weigh all your options first and be sure to talk with a financial expert before you do anything.

Why Dipping into a 401(k) Can Be Tempting

Data from Empower shows many Americans have built up considerable retirement savings. The median 401(k) amount for anyone in their 40s-60s is six figures (see graph below):

a graph of green bars And when you’ve got a good chunk saved and your dream home is right there, reaching for it can feel like an easy call.

But dipping into your retirement savings to buy a home could cost you a penalty and set back your finances later on. That’s why it’s a good idea to explore other options for your down payment first. As Redfin says:

“If you’re struggling to save enough for a down payment, you may be wondering if tapping into your 401(k) is the right option. While it’s possible, doing so comes with significant risks, like early withdrawal penalties and lost investment growth.“

Before you decide, have a financial advisor help you compare the upsides to the risks. Bankrate points to a few of each (see visual):

Other Options Worth Exploring First

Your 401(k) isn’t the only way to finance a home purchase. Redfin outlines a few other options to look into before you decide what to do:

Low and No-Down Payment Loans: FHA loans, for example, allow qualified buyers to put down as little as 3.5% of the home’s price, depending on their credit scores.
Down Payment Assistance Programs: Many national and local programs can help reduce what you pay toward your down payment or closing costs.

Make a Plan Before You Make a Move

No matter which route you take, talk with a financial expert first. The buyers who come out ahead build a solid plan with the right professionals before starting their journey to homeownership. As NerdWallet puts it:

“Even if you’re convinced a 401(k) loan is the way to go, it’s important to understand the risks at the outset.“

Bottom Line

Affordability is definitely a challenge, but that doesn’t mean tapping your 401(k) is your only way in if you want to buy.

If you’re considering using your 401(k) savings for a down payment, weigh all your options and talk with a trusted financial advisor before you make any decisions. They’ll help you make a plan to fit your goals and your budget.

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Here’s Why Mortgage Rates Are What They Are Right Now

Written by Fidelity Home Group Syndicated User on August 13, 2026. Posted in Affordability, Economy, Florida Mortgage, Florida Mortgage Rates, For Buyers, For Sellers, Mortgage Florida, Mortgage Rates.

If you’re waiting for mortgage rates to fall a lot before you buy, you may be waiting a while. But before you get discouraged, there’s a number working behind the scenes that’s actually good for you right now. It’s called the spread, and once you understand it, you may see today’s rates in a whole new light.

The Pattern That’s Held for 50+ Years

For starters, mortgage rates don’t move on their own. They tend to follow the 10-year treasury yield, a number tied to how investors feel about the economy.

It’s not an exact science, since plenty of other factors can move it day to day, but broadly speaking, when the economy looks strong, that yield tends to climb over time. When the outlook gets shaky, it tends to ease. For over 50 years, the 10-year treasury yield and mortgage rates have moved almost in lockstep (see graph below):

a graph of a graph showing the number of mortgage rates

The gap between them is called the “spread.” On average, that gap runs about 1.76 percentage points. And that spread impacts your mortgage rate. A wider spread tends to push mortgage rates higher than the treasury yield alone would suggest, while a narrower spread keeps rates closer to the treasury yield.

One of the Big Reasons Rates Likely Won’t Drop Dramatically Anytime Soon

If you’re hoping mortgage rates will drop a lot, here’s the reality – they probably won’t, at least not anytime soon. One of the big reasons why comes down to that spread between the 10-year treasury yield and mortgage rates.

A few years ago, that gap got a lot wider as uncertainty in the economy pushed it as high as 3.19 points in 2023.

Now here’s the part worth noting – that gap has been narrowing lately. It’s down to about 2.01, just above the long-term average of 1.76 (see graph below):

a graph of a graph of a graph of a graph of a graph of a graph of a graph of a graph of a graph of a graph of a graph of a graph of a graph of

When the gap is wide, there’s more room for rates to fall. But when it’s relatively normal, like it is now, there’s less wiggle room for rates to fall.

Why Mortgage Rates Aren’t Higher Right Now

Today’s mortgage rate is basically the treasury yield plus the spread. So, when either one moves, your rate moves with it. Here are 3 different rates, all built off today’s 10-year treasury yield of 4.68% to show you just how much the spread matters for your bottom line (see graph below):

a graph of a graph showing a rate of interest

If the spread were still stretched out like it was in 2023, rates would be pushing close to 8% right now. That’s because the spread was over a full point wider than it is today.

But now, thanks to the spread narrowing recently, today’s rate sits around 6.69%. That’s the middle scenario in that visual. That’s a big difference in your monthly payment compared what we could see if the spread was as big as it was 2023. As Logan Mohtashami, Lead Analyst at HousingWire, put it:

“Of course, mortgage spreads being better in 2026 is the housing hero story of the year . . .”

Now compare that middle bar to the 3rd one. If the spread were sitting at its exact long-term average, rates would be around 6.5%. That’s only about a quarter of a point away from where rates actually are today. That means most of the improvement in mortgage rates we should realistically expect from a shrinking spread has already happened.

In other words, the same narrowing spread that’s the reason rates aren’t close to 8% today is also a big reason why they’re not likely to fall a lot further.

Bottom Line

That’s the trade-off with a narrowing spread. Rates may not be where you want them, but they’re better than they could’ve been. If you want help figuring out what that means for your monthly payment, reach out to a local lender

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida