Florida Realtors members heard how Amendment 3 could provide meaningful property-tax relief and improve affordability if approved by voters in November.

The average 30-year mortgage rate climbed to 7.28%, its sixth straight weekly increase and highest level since November 2023. The 15-year rate rose to 6.60%.

A new survey found 77% of recent buyers exceeded their initial budgets, while some accepted fewer bedrooms, smaller yards or different locations.

Agents and buyers may see both old and new appraisal formats during the transition. An Oct. 16 Florida Realtors webinar will explain the changes.