Fannie Mae will allow mortgage companies to notify borrowers who may qualify to cancel private mortgage insurance, potentially lowering their monthly payments.

Florida Realtors members heard how Amendment 3 could provide meaningful property-tax relief and improve affordability if approved by voters in November.

The average 30-year mortgage rate climbed to 7.28%, its sixth straight weekly increase and highest level since November 2023. The 15-year rate rose to 6.60%.

A new survey found 77% of recent buyers exceeded their initial budgets, while some accepted fewer bedrooms, smaller yards or different locations.