South Florida Mortgage Report

Craig Garcia and Bill Mei
  • 5.0 (1)
  • Business News
  • Updated Weekly

South Florida's only dedicated weekly mortgage podcast. Hosted by Craig Garcia, President of Capital Partners Mortgage Services, LLC, and co-host Bill Mei. Weekly mortgage rate updates, loan program breakdowns, Florida condo market news, and real estate trends across Miami-Dade, Broward, and Palm Beach counties. Straight talk for homebuyers, investors, and real estate professionals. 🌐 cp-mtg.com 📺 youtube.com/@craiggarciamortgage Craig Garcia | NMLS #653593 | Coral Springs, FL | Equal Housing Lender

  1. 2d ago

    Buyer's Market? Not So Fast.

    Everybody's saying "it's a buyer's market" — but is there even a definition, and does South Florida actually qualify? Craig and Bill break down the one metric that decides it (months of supply), why the local line isn't the national one, and the reveal that settles it: in May 2026, Miami-Dade single-family sat at 5.2 months — a *seller's* market with prices up — while condos hit 12.9 months, a genuine *buyer's* market with prices down. Same county, same month, opposite leverage. The pattern holds tri-county (Broward and Palm Beach houses are even tighter; their condos are looser too). Plus: why buyers don't *feel* the leverage even where it's real, how to actually use it, and how to tell a real condo discount from a warning label. **Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠ Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  2. Jul 8

    Florida Hometown Heroes 2026: Who Qualifies — and Who's Left Out

    Florida's Hometown Heroes down payment assistance program is back for 2026 — and it's narrower than a lot of people realize. Plenty who assume they qualify won't. In this episode of the South Florida Mortgage Report, we break down where the program stands now, who's most often left out, and how agents and buyers can avoid a painful surprise at underwriting. If you work with clients in healthcare, education, public safety, or anyone who's self-employed, this is the one to hear before they make an offer. **In this episode:** - How the program narrowed — wide open two years ago, back to frontline heroes last year, and tighter still for 2026 - The four-part test that now decides eligibility — and why it's not about the job title - Who's often surprised they don't qualify now: self-employed, multi-site, and fully remote workers - The hospital-cafeteria-vs-pharmacy-cashier rule that captures the whole logic in one example - The good news most people miss — including the fact that only one borrower has to qualify - The two questions to ask every buyer before you write an offer The assistance itself: a minimum of $10,000 and up to $35,000 (5% of the loan) toward down payment and closing costs — a 0% second mortgage with no monthly payment. Real help, but not forgivable. Not sure whether your buyer qualifies? Capital Partners Mortgage Services will check them against the actual 2026 guidelines — reach out before you make a move. 📍 cp-mtg.com *Subject to eligibility, income limits, and available program funds. Not a commitment to lend. Equal Housing Lender.* **Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠ Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  3. Jun 26

    Hometown Heroes is Back! $35,000 for Teachers, Nurses, Police, Firefighters, And More

    The Florida Hometown Heroes Program is officially returning, and if you're a teacher, nurse, law enforcement officer, firefighter, military member, childcare worker, or another eligible public servant, this could be one of the best homebuying opportunities of the year.In this special breaking news episode of the South Florida Mortgage Report, Craig Garcia and Bill Mei explain what we know so far, who is expected to qualify, and why you don't necessarily have to wait until July 13th to begin the home buying process.In this episode we discuss:✅ Florida Hometown Heroes returns with $50 million in funding✅ Up to $35,000 in down payment and closing cost assistance✅ Zero interest and no monthly payments✅ Expected eligibility requirements✅ Why now is the time to get pre-approved✅ Important program dates✅ How the funds are likely to be reservedIf you've been waiting because you didn't have enough money for a down payment, this program could help make homeownership possible.📅 Important Dates• July 7 – Expected mortgage rates announced for the program• July 13 – Reservations open and funds become availableFunding is limited and has historically been exhausted quickly, so preparation is key.**Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  4. Jun 23

    The New Sheriff and the Hidden Lever — What Kevin Warsh's Fed Means for Your Mortgage

    Kevin Warsh held his first FOMC meeting as Fed Chair on June 17th — and the story wasn't what happened to rates (nothing). It was everything else: forward guidance eliminated, the dot plot he refused to submit, five task forces launched to overhaul the Fed's entire operating model — and the one tool that connects directly to your mortgage rate. Craig Garcia and Bill Mei break down who Warsh actually is, why the Fed cutting rates can *raise* mortgage rates, the 1990s Greenspan-AI parallel, and the three documented balance-sheet tools that could move 30-year rates by 40 to 115 basis points without a single change to the Fed funds rate. Plus why the sequence — inflation credibility first, balance sheet second — is everything.Chapters:00:00 The Fed's New Leadership and Market Reactions02:26 Understanding Kevin Warsh's Approach to Inflation04:49 The Shift in Forward Guidance and Its Implications07:09 Market Volatility and Communication Changes09:51 The Role of AI in Economic Reporting12:32 The Relationship Between Fed Rates and Mortgage Rates15:14 Trends Over Numbers: A New Perspective on Inflation16:51 AI and Economic Productivity Gains18:37 The Housing Market Dynamics20:32 Understanding the Fed's Balance Sheet23:49 Quantitative Tightening and Its Impact25:59 Potential Fed Strategies for Housing28:27 Exploring Operation Twist31:11 The Importance of Fed Credibility32:16 Advice for Home Buyers34:07 Looking Ahead: Future Implications for Housing**Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  5. Jun 15

    We Closed a Condo With 5% Down — Even Though It Failed the Reserve Test

    We just closed a 5% down Fannie Mae conventional loan on a condo where the building's reserve budget was under 10% — the number every lender in the country uses as the cutoff. Most lenders said no. Here's how we got it done.In this episode, Craig Garcia and Billy Mei do a deep dive on condo reserves: what they actually are, why they matter, how the rules have changed since the Surfside collapse, and where the real opportunities are hiding in South Florida's condo market right now.**What we cover:**- What condo reserves actually are — and the single-family home analogy that makes it click- How Fannie Mae and Freddie Mac set the 10% rule — and what happens when a building doesn't hit it- How the Champlain Towers collapse changed condo lending forever- Florida's SB4D and SB154 — milestone inspections, SERS reports, and no more reserve waivers- The case study: how a reserve study (SERS report) proved a condo was fully funded — even though the budget percentage said otherwise- **The August 3 deadline** — why applications need to be in NOW if your condo has under 10% reserves- What changes in January: the threshold goes from 10% to 15%- Why there are 13 months of condo inventory in Miami-Dade — and where the opportunity isIf you're a buyer, seller, listing agent, or buyer's agent dealing with condos in South Florida, this one is required listening.**Have a condo deal that's been turned down? Contact us:**👉 https://www.cp-mtg.com/condo-loans/*This episode also marks one year and 53 episodes of the South Florida Mortgage Report. Thanks for listening.***Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  6. Jun 13

    Appraisal Came in Low? Do This BEFORE You Panic

    What happens when your appraisal comes in low — and the deal is on the line?Most people assume it means somebody has to come up with a big check. A $50,000 appraisal gap means $50,000 out of pocket, right? Not always.In this episode, Craig Garcia and Billy Mei break down what a low appraisal actually means for your transaction — and reveal a tool that can close a $50,000 appraisal gap for as little as $3,000, with the seller, buyer, or agent able to cover it.What we cover:- The big down payment scenario — why most people panic when they don't need to- The 20% down scenario — where the real challenge lives, and the little-known solution that keeps the deal intact- The minimum down / FHA scenario — what options you still have when the cards are stacked against you- Single premium mortgage insurance — what it is, how it works, and why almost nobody talks about it this way- The free appraisal gap calculator — live on our website so you can run your own numbers before you call usTry the calculator: https://www.cp-mtg.com/low-appraisal-calculator/**Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  7. May 30

    Confessions of a Serial Appraiser | Phil Biber, Watermark Valuation Services

    Phil Biber has been appraising South Florida real estate since 1990. In that time, he's watched agents make the same mistakes over and over again. In this episode of the South Florida Mortgage Report, Craig Garcia sits down with Phil Biber — founder of Watermark Valuation Services, former Chief Review Appraiser overseeing a national panel of 6,000 certified appraisers, and one of South Florida's most experienced appraisers with 36 years in the market. Phil has been featured on PBS's Nightly Business Report and has taught real estate professionals across the country how to actually work with appraisers — not fight them. In what turns out to be a genuine myth-busting conversation, Phil and Craig tear apart five things most agents, buyers, and mortgage professionals get completely wrong: MYTH: Give the appraiser all your comps. Three on one page with a map beats a 25-page packet every time — here's whyMYTH: Price per square foot is your best argument. Phil says this is the #1 mistake agents make — and why appraisers ignore itMYTH: The 6-month comp rule is absolute. It's a guideline, not gospel — and lazy appraisers use it as an excuse not to do the workMYTH: A strong ChatGPT ROV will change the appraiser's mind. The appraiser just runs it back through ChatGPT — Phil has seen it happenMYTH: The best data wins. Phil's 36-year confession: connection trumps competence every timePlus — a warning about Form 3.6, the new appraisal reporting format coming from the agencies that Phil calls a potential "train wreck" for the market, and why it could drive appraisal costs significantly higher. Whether you're a real estate agent protecting your commission, a buyer navigating a tight market, or a mortgage professional working a complex file — this one is worth your time. Phil Biber / Watermark Valuation ServicesServing Broward, Palm Beach, and Miami-Dade Counties📞 (561) 571-1405🌐 www.watermarkvalue.com **Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

  8. May 27

    The Honest Number That Isn't: Why APR Misleads Borrowers — and What to Look At Instead

    APR is supposed to be the number that protects you. The single honest comparison point that mortgage lenders can't manipulate. The reason you can shop rates without getting deceived.Here's the problem: it doesn't work the way people think it does — and two lenders with identical loans, identical rates, and identical fees can legally show you different APRs without changing a single line item. We're going to walk through exactly how that happens and what to look at instead.This week also gave us one of the more volatile rate environments of the year. The 30-year fixed hit 6.51% on Wednesday — the highest level since August 2025 — on a combination of a hotter-than-expected CPI print and oil prices spiking because of the Iran conflict. Then on Friday, news of US-Iran peace talks moved oil down nearly two dollars and pulled rates back with it.That's a 15-basis-point swing in a single week. And the story of that swing connects directly to the APR conversation — because when rates move that fast, the number you should be watching is not APR.Craig Garcia and Bill Mei break down both.**Topics covered:**- What APR actually includes — and the long list of costs it deliberately excludes- Why the same loan can produce two different APRs depending on assumed closing date- How lenders can show a lower APR by routing costs to title fees — without lying- The only number that gives you an honest apples-to-apples comparison between lenders- April CPI came in at 3.8% — highest since May 2023 — and what it did to rates- Oil at $105 Brent as the inflation lever nobody in mortgage talks about- The 10-year Treasury hitting a 16-month high of 4.7%- What the Iran peace talks did to rates on Friday- The rate lock timing conversation you should be having with every buyer right now **Subscribe for weekly market updates** on rates, inflation, jobs reports, and what actually moves mortgage pricing. 📍South Florida focus — national relevance. #MortgageRates #HousingMarket #RealEstate #Fed #FannieMae #FreddieMac #MBS #Refinance #HomeBuying #SouthFloridaRealEstate 🎧 LISTEN & SUBSCRIBE TO THE SOUTH FLORIDA MORTGAGE REPORT 🔁 YouTube playlist (all episodes): https://www.youtube.com/playlist?list=PLCOa_zSrotiecbiomGKhTzASCBToYQUea 📱 Subscribe & follow on your favorite platform: • Apple Podcasts: https://podcasts.apple.com/us/podcast/south-florida-mortgage-report/id1834181574 • Spotify: https://open.spotify.com/show/5QxG2PzPd3W9pJFqQnLAPS?si=5a667fbd60a44ce9 📌 HELPFUL LINKS 📩 Housing Newsletter: Stay informed with curated mortgage and housing insights delivered straight to your inbox: https://housingnewsletters.com/craiggarcia ✅ Pre-Approvals 24/7: Get started anytime: ⁠ Option 1⁠ https://loancenter.cp-mtg.com/dr/c/rhx8h ⁠ Option 2⁠ https://loancenter.cp-mtg.com/dr/c/w2o7v

See All (52)

About

South Florida's only dedicated weekly mortgage podcast. Hosted by Craig Garcia, President of Capital Partners Mortgage Services, LLC, and co-host Bill Mei. Weekly mortgage rate updates, loan program breakdowns, Florida condo market news, and real estate trends across Miami-Dade, Broward, and Palm Beach counties. Straight talk for homebuyers, investors, and real estate professionals. 🌐 cp-mtg.com 📺 youtube.com/@craiggarciamortgage Craig Garcia | NMLS #653593 | Coral Springs, FL | Equal Housing Lender

Information

  • Creator
    Craig Garcia and Bill Mei
  • Years Active
    2025 - 2026
  • Episodes
    52
  • Rating
    Explicit
  • Copyright
    © Craig Garcia and Bill Mei
  • Show Website
    South Florida Mortgage Report

You Might Also Like