09/25/2026
Rates went up. The cranes didn't stop.
Last week the Fed raised rates for the first time in about three years, and mortgage rates are now near 7%. On a $400K loan, that's about $180 more a month than a year ago. It's real money, but it doesn't make a good home a bad buy.
Here's what higher rates haven't done: knock prices down. There are 13% fewer homes for sale across Florida than a year ago, so prices are holding.
And Pinellas kept building while everyone watched the Fed. Clearwater poured the first concrete on The Bluffs, a 28-story tower overlooking Coachman Park. In St. Pete, the historic Manhattan Casino reopened after 56 years, and demand to build affordable homes nearby is outpacing the funding.
My take? Waiting for rates to drop isn't a plan. Pinellas is out of land, and a county that stops building only gets more expensive. If you're buying, buy the home and refinance later. Be a participant, not a spectator.
Curious what this means for your home? DM me your street and I'll run the real numbers for you. No pitch, no pressure.
Full breakdown in this week's Fridays with Regi. Link in bio.