Current Florida Mortgage Rates
Average market rates for June 18, 2026 in Florida are 6.38% for 30-year fixed purchase and 6.43% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.38% | 6.41% |
| 30-year Fixed Refinance | 6.43% | 6.46% |
Mortgage Rate Trends in Florida
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.38% | 6.41% |
| 30-year Fixed Refinance | 6.43% | 6.46% |
Florida Housing Market
The National Association of Realtors® publishes quarterly updates on Florida’s housing market. The most recently available data points toward a trend favoring buyers.
Compared to the prior year, the third quarter of 2024 showed:
- Closed sales down 2.6%
- Median sale price up just 0.2%, to $414,990
- Total dollar volume of home sales fell to $37.2B from $38.2B
- Active listings jumped 39.6%, to 95,943 homes from 68,726
These conditions could represent an opportunity for buyers, particularly first-timers. With average days on market rising to 84 days (up from 70 a year earlier), motivated sellers may be more willing to negotiate on price and other concessions.
Florida Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.58% | 5.64% |
| 15-year Fixed Jumbo Purchase | 6.01% | 6.04% |
| 30-year Fixed Purchase | 6.38% | 6.41% |
| 30-year Fixed Jumbo Purchase | 6.49% | 6.51% |
Florida First-Time Buyer Programs
Here are some of the state’s programs designed to help first-time buyers get a foothold in the housing market:
- Florida Housing Finance Corporation’s Hometown Heroes Program — Up to $35,000 (5% of purchase price) as a silent second mortgage with no interest. Repayment is only required when you sell, refinance, or finish paying off your loan.
- Miami-Dade Economic Advocacy Trust’s Homeownership Assistance Program (HAP) — Up to $28,000 as a second mortgage, forgiven after 20 years if you remain in residence the entire time.
- Hallandale Beach Community Redevelopment Agency’s First-Time HomeBuyer Program — Up to $100,000 for buyers earning between 50% and 120% of the Broward County median income, or up to $10,000 for those with higher incomes. A $5,000 bonus incentive is available for first responders, teachers, and nurses.
- HUD’s Good Neighbor Next Door Program — Law enforcement officers, teachers (pre-K through 12th grade), firefighters, and EMTs can purchase homes in designated revitalization areas at a 50% discount. A 36-month residency requirement applies.
All of these programs have conditions and eligibility requirements — click the links above to review the details. And this is just a sampling; many additional down payment assistance programs are available to Florida first-time buyers. A web search for your specific county or city will surface more options.
Florida Mortgage and Refinance Rates vs. National Averages
Mortgage rates move daily, so any snapshot is just that. But historically, Florida refinance rates have tended to run slightly below the national average. Federal data collected under the Home Mortgage Disclosure Act (HMDA) showed the average rate across all mortgage types in Florida was 6.81% in 2023, versus 6.97% nationally.
Why do rates vary by state? Several factors drive the differences:
- States with lower average credit scores tend to have higher average rates
- Larger populations and more lenders can create sharper competition and lower rates
- States where borrowers actively shop multiple lenders tend to pull average rates down
- Highly regulated states may see higher rates to offset compliance costs
Florida Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.56% | 5.62% |
| 15-year Fixed Jumbo Refinance | 5.98% | 6.01% |
| 30-year Fixed Refinance | 6.43% | 6.46% |
| 30-year Fixed Jumbo Refinance | 6.53% | 6.55% |
Florida ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.08% | 6.14% |
| 5/6 Arm (refinance) | 6.12% | 6.17% |
| 5/6 Jumbo Arm (purchase) | 5.89% | 5.92% |
| 5/6 Jumbo Arm (refinance) | 5.95% | 5.97% |
How we source rates and rate trends
Florida Mortgage Rate Projections
Mortgage rates typically fall when the economy softens and rise when it strengthens or inflation picks up. The direction of rates in 2026 remains uncertain — influenced by Federal Reserve policy, inflation data, and broader economic conditions. Monitoring these factors can help you decide whether to lock in a rate now or wait.
Is It a Good Time to Refinance in Florida?
The Consumer Financial Protection Bureau (CFPB) has found that borrowers could save $100 or more per month — $1,200 or more per year — simply by comparing lenders and choosing the most competitive offer. If your current rate is above today’s market rates, it may be worth exploring a refinance.
Here are the key steps to shopping for the best mortgage or refinance rate:
- Get your credit and finances in the best shape possible before approaching lenders
- Decide on the loan structure you want — fixed or adjustable rate, and your preferred term (10, 15, 20, or 30 years)
- Choose the loan type — conventional, FHA, or other programs you may qualify for
- If you’re unsure, ask a lender for no-obligation guidance before committing
- Get preapproval from at least three lenders — including banks, credit unions, and specialty lenders that may serve your situation
- Compare your Loan Estimates carefully, looking beyond the rate to total closing costs and APR
- Use the most competitive offer as leverage — call lenders and ask them to beat it
Ready to see what you could save? Check your refinance rate with Refi.com — it only takes a few minutes to get started.
Most Common Mortgage Types in Florida
- Conventional: 241,589 loans
- FHA: 51,561 loans
- VA: 34,969 loans
- USDA: 1,295 loans
