South Tampa Real Estate Report

South Tampa Real Estate Market Report | 9/14/25 - 9/20/25

Interest rates have dropped 63 basis points since July 1, but what does that drop mean in terms of dollars saved? Let's assume you took out a $500,000 30-year mortgage on July 1 @ 6.89%. Your monthly P&I payment would be $3,289.66. If you took out that same mortgage last week and secured a 6.26% interest rate, your monthly P&I payment would be $3,081.84. That's a savings of $207.82 per month, $2,493.84 per year or $29,926.08 over the course of 12 years the average person keeps a 30-year mortgage before moving or refinancing. A small drop in interest rates can add up to big savings over time. Have a great week!

Michael Palermo

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