Essential Real Estate News to Start 2025

ORLANDO, Fla. – The past two weeks have brought some changes to the state and national real estate market, setting the stage for a pivotal start to 2025. Key developments include fluctuating mortgage rates and inflation adjustments for homestead exemptions.

More specifically, here’s a closer look at events that have unfolded since Dec. 23, when Florida Realtors® News started its holiday break:

• Mortgage rates up

In the past two weeks, mortgage rates have inched closer to 7%, according to Freddie Mac:

Dec. 26: The average rate on a 30-year mortgage rose to 6.85% from 6.72% the previous week. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan at a lower rate, increased to 6% from 5.92%.

Jan. 2: The rate on 30-year loans rose to 6.91% while 15-year loans increased to 6.13%.

• New condo rules

Beginning Jan. 1, condo sale contracts must include conspicuous statements about the milestone inspection, turnover report and structural integrity reserve study. To ensure that the parties are complying with the law, new and revised forms can be found on Form Simplicity. Read the whole story here.

• Annual inflation adjustment to homestead exemption begins

Beginning Jan. 1, homeowners with homestead exemptions will receive an annual inflation adjustment on their property taxes. The new exemption, known as Amendment 5, was approved by voters in November.

• Small Business Administration (SBA) loan program funded

The SBA received new funding for its Disaster Loan Program, which provides low-interest loans to homeowners, renters, businesses and nonprofit organizations to rebuild, repair and replace disaster-damaged property. Click here to apply. The deadline is Tuesday, Jan. 7.

• New Consumer Guide released

The latest Consumer Guide by the National Association of Realtors® focuses on home inspections, explaining what buyers and sellers should know about the process. Like the other Consumer Guides, the newest one — along with other resources — can be viewed at the NAR website facts.Realtor. The Consumer Guides can also be printed as handouts. Most are available in English and Spanish.

• Corporate Transparency Act reporting requirement deadline approaches

Some companies created or registered before Jan. 1, 2024, have until Jan. 13, 2025, to file their initial Beneficial Ownership Information reports with the Financial Crimes Enforcement Network (FinCEN). The law may require brokerages, team owners and agents with a PA, LLC or PLLC to disclose ownership details to the federal government. 

© 2025 Florida Realtors®