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South Florida housing market cooled by high mortgage rates

Por: WPTV Business August 24, 2023

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WEST PALM BEACH, Fla. — Mortgage rates are now hitting highs not seen in more than 20 years, and it's having an effect on housing transactions in South Florida.What’s happening though is we are at a stalemate, Jeff Lichtenstein of Echo Fine Properties in Palm Beach Gardens said. Sellers don't want to move because they're hanging on to their rates.On Wednesday, the national average rate was 7.58%, according to Bankrate.com.... + full article



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