South Tampa Real Estate Report

South Tampa Real Estate Market Report | 5/15/22 - 5/21/22

This time last year 30-year fixed interest rates were near historic lows (around 3.0%). Today, rates have increased off those lows due to various economic factors, but at 5.25%, the 30-year fixed rate is still historically low. The historical average 30-yr fixed rate is just under 8.0%. While the recent increase may affect buying power to a certain degree, look at the bright side, rates aren't in the mid-to high teens as they were in the '80's. Have a great week!

Michael Palermo

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