Don’t expect the quarter-point Federal Reserve rate cut to bring any significant mortgage rate reductions for aspiring homebuyers, a new analysis from Realtor.com shows.

In fact, mortgage rates may even move higher due to other macro-economic factors. 

“Prospective homebuyers who are holding off in anticipation that mortgage rates will automatically fall further after the Fed decision may face disappointment, housing economists warn,” according to Realtor.com.

“There are still risks of a reversal in mortgage rates, despite the Fed’s rate cut today and even if they cut rates two more times this year,” BrightMLS Chief Economist Lisa Sturtevant told the publication. “Inflation heated up in August, and if the September inflation report shows another bump in consumer prices, it’s possible we could see rates rise.”

Renting is going to continue to be the sensible choice, especially in the Miami market, which recently ranked No. 1 on the wrong kind of list: the nation’s most expensive mortgage rates. Fortunately for renters, there are incredible available apartments at Douglas Enclave in the city’s coveted Little Havana neighborhood.

Available Units For Rent At Douglas Enclave

Douglas Enclave is an 11-story, 199-unit building with brand-new Little Havana apartments available for rent. It includes a thoughtful mix of studio apartments, one-bedrooms, two-bedrooms and townhomes for rent. Individual apartments feature vinyl-wood flooring, open-concept kitchens, stackable washer/dryer units and efficient appliances.

Additional building amenities include a club lounge, bike racks, gated parking garage and a package delivery room. Douglas Enclave is extremely transit-friendly and located next to a Coral Gables Trolley stop.

Little Havana is one of Miami’s most popular neighborhoods to live in because of its convenient location, rich history, culture and many things to do. The neighborhood is perfectly positioned near the world-class shopping and dining of downtown Coral Gables, and a short drive from Miami’s bustling Brickell financial district.

For more information about Douglas Enclave, call (786) 610-4811 or visit the leasing office located at 61 NW 37 Ave. between 9:30 a.m. and 6 p.m. from Monday to Friday, and between 10 a.m. and 5 p.m. on Saturday. Douglas Enclave is part of Miami-Dade County’s Workforce Housing Program – contact the leasing team for more details and qualification requirements.