Low mortgage rates luring home buyers to Tampa Bay
By Beth Rousseaun
New Chanel 8
Published:

TAMPA, Fla. (WFLA) — Historically low mortage rates are on the rise, sending more buyers out of the woodwork and keeping things competitive in Tampa Bay. According to Tampa Bay realtor Darlene Davenport, mortgage rates have climbed from 2.75% in Dec. 2020 to 3.12% at the start of March. “It’s keeping it affordable which is so important. It allows the first time home buyers, the young individuals just getting started to get into the market. So, we’ve got to keep the rates affordable,” she said. But Davenport has concerns about the fast-moving market. “You look at that inventory it’s concerning, and we don’t have supply to meet the demand,” Davenport said. Davenport said there are 1,100 single family homes, 205 condominiums for sale in Hillsborough County, as of Wednesday. Davenport told 8 On Your Side she doesn’t expect things to change in the near future. She predicts the low rates, pandemic and job growth will bring more buyers to the Bay Area. Optical illusion? Hillsborough Sheriff’s Office asks for theories on height difference photo Can marijuana help athletes? Doctor explains how cannabis affects athletic performance Future of masks uncertain as health experts warn of 4th COVID-19 wave “People understand where Tampa is today. Before, it was Orlando or Miami when they looked at Florida. They’re looking at Greater Tampa Bay, today. The demand is there and we have to figure out how to deal with it,” she said.