Misleading Mortgage Panic: Why Rising Delinquency Fears Don’t Match the Data
Recent discussions on social media have sparked concern about rising homeowner delinquency rates, citing a chart showing a noticeable increase. However, the chart in question represents Freddie Mac's serious delinquency rates on multifamily loans, not single-family home loans. These multifamily loans are for commercial properties with five or more units and should not be confused with typical homeowner mortgages like 30-year fixed-rate loans. While the chart shows an increase, the multifamily delinquency rate is still under 1%—although slightly above 2008 recession levels—and not indicative of a broader housing crisis among individual homeowners.
Data from ICE reinforces that homeowner delinquency rates are still low by historical standards and have not returned to pre-2020 levels. In February 2025, the national delinquency rate rose slightly to 3.53%, which is still 32 basis points below where it was entering the pandemic. Notably, 90% of the 131,000 year-over-year rise in delinquencies came from FHA loans, even though they represent less than 15% of all active mortgages. Additionally, regional issues, such as wildfires in Los Angeles, have caused localized increases in past-due loans. Overall, the narrative that homeowners are facing significant financial stress is misleading and not supported by the broader data.
Important Changes to Condo Sale Contracts Starting in 2025
Starting January 1, 2025, contracts for the sale of a condominium in Florida now require the inclusion of specific statements regarding the milestone inspection (Milestone), turnover inspection report (Turnover), and structural integrity reserve study (SIRS). Sellers must disclose the status of these documents, depending on three scenarios: whether the Association is required to complete them, whether the Association has completed them, or if they are not required at all. These disclosures are mandatory and must be clearly stated in the contract. Failure to include the necessary information could make the contract voidable at the buyer’s discretion before closing, so accuracy is crucial for the seller.
To ensure compliance, the Florida Realtors®/Florida Bar (FR/BAR) Condo Rider and Condo Addendum forms have been updated to include these new requirements. Sellers must check the appropriate boxes on these forms to indicate the status of the Milestone, Turnover, and SIRS documents. To properly complete the forms, sellers should contact their condo association for the necessary information or seek legal advice if they are uncertain about how to proceed.
Faith, Strength, and the Grand Canyon - A Hike for Hope
One of our staff members recently had the pleasure of speaking with a true civil servant, Gidgett Vici, who is currently training for a Grand Canyon hike to raise awareness about human trafficking. Her deeply personal journey toward healing and purpose has led her to take on this 24-mile challenge. A longtime resident of Cocoa Beach, she has recently taken on a second job to help fund the hike, which she’s dedicating to the victims of trafficking. Despite the challenges of health issues and the pressure of balancing multiple responsibilities, she’s finding strength in the cause and in the community of women walking alongside her.
Her story is a testament to perseverance, faith, and the transformative power of stepping outside one’s comfort zone. Through early morning walks, gym sessions, and humble fundraising efforts, she’s determined to make a difference. For her, this hike isn’t just about awareness—it’s about reclaiming her worth, celebrating survival, and spreading a message of love and hope. As she says, "Sometimes my mind tells me I can't do this. But I know I can because I’m hiking for something real."
If you feel led to donate to Gidgett's hike fundraiser you can do so here:
https://support.
Florida’s 2024 Economic Surge and Its Impact on Real Estate and Migration Trends
Florida’s economy is booming, ranking as the fourth-largest in the United States with a gross state product (GSP) of $1.695 trillion in 2024. If Florida were its own country, it would have the 15th-largest economy globally. The state also saw $7.1 billion in international sales, with 45% of foreign buyers coming from Latin America and the Caribbean, and Canada, Argentina, Colombia, Brazil, and the UK leading the charge. While Florida continues to attract both domestic and international migrants—636,933 new residents in 2023—it also experienced a decrease in net migration compared to the previous year. The real estate market plays a significant role in driving Florida's economy, with over 361,000 sales totaling $198.5 billion in 2024. As Florida’s economy thrives, Realtors® remain at the forefront, advocating for legislative changes to support growth and continuing to help people find homes and businesses in this dynamic state.