Weekly market note · October 17, 2026
Rates hold near 7.4%, and condo buyers have more choice than house buyers
Freddie Mac's weekly rate averages, September 2026 sales for Broward, Palm Beach and Miami-Dade (houses and condos separately), and two Florida condo-safety dates from DBPR.
This week's mortgage rate averages
Freddie Mac's Primary Mortgage Market Survey for the week of October 15, 2026:
| Loan | Average rate | Week before | A year ago |
|---|---|---|---|
| 30-year fixed | 7.40% | 7.40% | 6.27% |
| 15-year fixed | 6.71% | 6.73% | 5.52% |
Source: Freddie Mac, Primary Mortgage Market Survey, results as of 10/15/2026. The survey reflects borrowers with strong credit putting 20% down on a single-family home they'll live in, so it's a benchmark, not your rate.
South Florida sales, September 2026
Houses and condos are reported separately because they behave like two different markets. Figures are for September 2026 compared with September 2025.
Single-family homes
| County | Median sale price | Change vs. Sept. 2025 | Active listings | Months of supply | Median days to contract |
|---|---|---|---|---|---|
| Broward | $641,500 | +2.4% | 4,351 | 4.2 | 39 |
| Palm Beach | $656,000 | +6.7% | 4,481 | 3.6 | 43 |
| Miami-Dade | $692,000 | +4.1% | 4,536 | 5.1 | 41 |
Condos and townhouses
| County | Median sale price | Change vs. Sept. 2025 | Active listings | Months of supply | Median days to contract |
|---|---|---|---|---|---|
| Broward | $235,000 | -14.5% | 9,582 | 10.2 | 69 |
| Palm Beach | $310,000 | +3.3% | 5,858 | 6.8 | 53 |
| Miami-Dade | $417,090 | -0.7% | 11,706 | 12.3 | 67 |
Source: MIAMI REALTORS® + RWorld, South Florida Market Stats, September 2026, from Florida Realtors data (Florida Realtors market data). "Days to contract" is the median time from listing to signed contract for homes that closed. The association describes six to nine months of supply as a balanced market (MIAMI REALTORS®, October 16, 2026).
Florida condo news
- Reserve study deadline for some buildings is December 31, 2026. Florida DBPR's timeline says associations whose milestone inspection is due by December 31, 2026 may complete their structural integrity reserve study (SIRS) at the same time, and that SIRS must be done by December 31, 2026. For most other associations the SIRS deadline was December 31, 2025. Source: DBPR, Florida's Condo Laws & Implementation: Timeline.
- Milestone-inspection reporting for 2026 is open. DBPR says its 2026 Annual Milestone Inspection Reporting Form opened to local building departments on October 1, 2026, and every jurisdiction must file by December 31, even with nothing to report. Source: DBPR, Building Code Administrators & Inspectors: Hot Topics.
What this means for buyers
- Condo buyers: with 6.8 to 12.3 months of supply across the three counties, you'll usually see more listings to compare and more room to ask questions before you commit. Ask early for the building's milestone inspection status, its reserve study and the current HOA budget. Those answers affect your monthly cost and which loans can work.
- House buyers: supply is tighter (3.6 to 5.1 months), and homes that sold went under contract in about six weeks at the median. Having your pre-approval and down payment paperwork ready before you tour helps you move when the right home comes up.
- Everyone: the weekly rate average is a national benchmark for one borrower profile. Your own rate depends on your credit, down payment, the property and the loan program, so run your numbers with a rate you've actually been quoted.
Want to see what these prices mean for a monthly payment? Try the affordability tool or ask me for a custom quote.
General information, not a commitment to lend or a rate quote. Market figures are from the sources linked above and may be revised by their publishers. Rates in the Freddie Mac survey are national averages for a specific borrower profile; your rate depends on your credit, the loan program, the property and current pricing.