The average 30-year rate fell to 7.18% from 7.24% last week, while the 15-year rate dipped to 6.57% from 6.60%.

Gov. Ron DeSantis plans to convene lawmakers before leaving office in January to implement Amendment 3. Approved by 62% of voters, the Florida Realtors-backed measure raises the homestead property tax exemption to $150,000 in 2027 and $250,000 in 2028, excluding school district taxes.

Seven additional counties are under Florida’s flooding emergency declaration. Florida Realtors’ Disaster Relief Fund is accepting applications from eligible members in the original seven counties.

Florida voters approved Amendment 3, backed by Florida Realtors, increasing the homestead exemption and lowering the assessment increase cap for non-homestead properties beginning in 2027. State and local officials will address implementation details.

Floridians grew more optimistic about the economy’s future in October, but weaker views of current finances suggest affordability remains central to customer conversations.

Florida Realtors opened its Disaster Relief Fund to assist eligible members with home or office damage after heavy rain and flooding prompted a state of emergency in seven counties.