Mortgage Rates Florida for May 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current 30-year fixed mortgage rates in Florida include Partners Federal Credit UnionPartners Federal Credit Union1180 Seven Seas Drive, Lake Buena Vista, FL, 32821A5.0 ★Texas Ratio: 6.02% at 5.65%, Publix Employees Federal Credit UnionPublix Employees Federal Credit Union11112 San Jose Blvd, Altamonte Springs, FL, 32221A+5.0 ★Texas Ratio: 1.29% at 5.67%, SUMA Federal Credit UnionSUMA Federal Credit Union5400 S Biscayne Dr Ste A, North Port, FL, 33702 3000A5.0 ★Texas Ratio: 11.57% at 5.88%, ConnectOne BankConnectOne Bank625 N Flagler Dr, West Palm Beach, FL, 33401A+5.0 ★Texas Ratio: 4.57% at 5.88%, and Florida Central Credit UnionFlorida Central Credit Union10175 State Road 54, Bradenton, FL, 33511 5706A+5.0 ★Texas Ratio: 4.09% at 5.85%. Mortgage rates as of May 22, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare mortgage rates across all loan types in Florida side-by-side. Florida mortgage rates currently start as low as 5.65% from Partners Federal Credit Union at 1180 Seven Seas Drive, Lake Buena Vista, FL, 32821. Rates are continually updated — we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to Florida borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: May 22, 2026
Compare Mortgage Rates Today in Florida
Florida 30 Year Fixed Mortgage Rates
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Florida 15 Year Fixed Mortgage Rates
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Florida 5/1 ARM Mortgage Rates
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Florida 30-Year Jumbo Mortgage Rates
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Florida 15-Year Jumbo Mortgage Rates
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Florida 5/1 Jumbo ARM Mortgage Rates
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Florida FHA Loan Rates
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Florida VA Loan Rates
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Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
How a Mortgage Works
A mortgage is a loan used to buy a home, secured by the property itself as collateral. The borrower repays the amount over a set term — most commonly 30 or 15 years — in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed-Rate vs. Adjustable-Rate Mortgages
A fixed-rate mortgage keeps the same interest rate for the entire term, so the principal-and-interest payment never changes. An adjustable-rate mortgage (ARM) starts with a fixed period — often five, seven, or ten years — and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they suit borrowers who expect to move or refinance before that point.
How Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that market baseline, the rate a borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why advertised rates are a starting point and the final rate is set once an application is underwritten.
Points and Closing Costs
The interest rate is not the only cost of a mortgage. Discount points are an optional upfront fee — one point equals one percent of the loan amount — paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps account for these costs when shopping lenders.
When to Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. The general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home — the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate or to remove mortgage insurance once enough equity has built up.
Florida Mortgage Rate Trends
Compare local Florida mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes — updated every evening.
Florida 30-year fixed mortgage rates currently average 6.499% based on data from institutions in our monitoring network.
Florida 15-year fixed rates fell 0.001 points over the past 7 days to 6.059%.
Florida Mortgage Rate Forecast — Next 12 Months
Where are Florida mortgage rates headed through May 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for Florida Home Buyers
Monthly principal & interest payment on Florida median home of $359,000 (20% down, 30-year fixed, state-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (FL avg) | 6.499% | $1,815 | — | 29.2% |
| 6-Month Forecast | 6.499% (6.15–6.80%) | $1,815 | +$0/mo | 29.2% |
| 12-Month Forecast | 6.099% (5.75–6.40%) | $1,740 | -$75/mo | 28% |
Income column = annual mortgage payment as % of Florida median household income ($74,568). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for Florida — updated every night from live mortgage rates across our monitoring network combined with U.S. Census Bureau income, home value, and cost burden data.
What This Score Means for Florida Home Buyers
With a score of 94.2, Florida is 5.8 points less affordable than the national average of 100.0. Florida ranks #35 out of 51 states for affordability — near the middle of the national affordability range.
The index reflects the current Florida 30-year mortgage rate of 6.499% combined with Census median home values, household income, property taxes, and cost burden data. A 0.25% rate change shifts the score by approximately 0.8-1.0 points — meaning today’s rate environment directly impacts how affordable homeownership is relative to local incomes across Florida.
Scores update each morning, computed from rate data captured the previous night. Computed from live mortgage rates across FDIC-insured banks and NCUA-chartered credit unions, combined with U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025. Score of 100 = national average at 6.5% reference rate. Full methodology →
How Mortgage Rates Impact Home Affordability in Florida
Florida Housing Market Overview
According to the U.S. Census Bureau, the median owner-occupied home value in Florida is approximately $359,000. The 2026 FHFA conforming loan limit for Florida is $832,750.
Florida Homeownership Rate
The homeownership rate in Florida stands at 65.4%, near the national average of 65.7%. The homeowner vacancy rate is 2.1%.
Monthly Payment Estimates for Florida Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $290,000 mortgage — based on a 20% down payment on the Florida median home value.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 5.999% | 30-year fixed | $1,739 | $335,864 |
| 6.499% Current Avg | 30-year fixed | $1,833 | $369,810 |
| 6.999% | 30-year fixed | $1,929 | $404,506 |
| 6.059% | 15-year fixed | $2,456 | $152,159 |
A 0.500% rate increase on a $290,000 loan adds roughly $96 per month and over $34,695 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders — using the rate table above — is one of the most impactful financial decisions a Florida buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only — taxes, insurance, and PMI not included.
Florida Income & Housing Affordability
At a price-to-income ratio of 4.8x, Florida is a relatively affordable housing market compared to national averages. That ratio — median home value divided by median household income — is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for Florida Buyers
With a median household income of $74,568 per year in Florida ($6,214/month) and a median home value of approximately $359,000, a buyer financing at 80% LTV at the current average rate would commit roughly 29.5% of gross monthly income to principal and interest alone. that falls within a manageable range relative to income, though taxes, insurance, HOA fees, and PMI will add to the true monthly cost of ownership.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in Florida
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home across Florida. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
Across Florida, the median homeowner with a mortgage pays approximately $1,346/month in total housing costs — covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $1,669/month including utilities. In this market, owning costs less per month than renting — a compelling financial case for buyers who can qualify for financing. Property taxes alone account for $249/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
Across Florida, 35% of homeowners with mortgages are cost burdened and 58.1% of renters are cost burdened. Renters face significantly higher burden rates than owners — a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 35% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
Run the Numbers on Your Florida Home Loan
Rates are only part of the equation. Use these calculators to translate current Florida mortgage rates into real numbers for your specific situation — before you talk to a lender.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios — a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Florida rates — so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point — the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path — mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment — to show which option builds more wealth over your intended time horizon in Florida.
CalculateTypes of Mortgages Available in Florida
Borrowers in Florida have access to a wide range of mortgage programs. Rates, down payment requirements, and eligibility rules vary significantly across products — understanding the differences before you compare lenders can save thousands of dollars over the life of your loan.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term — your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s Florida rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period — commonly 5, 7, or 10 years — after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down — and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15%–0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment — given ongoing home price trends in Florida — FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with — and often better than — conventional loan rates.
A one-time funding fee applies — 2.15% of the loan for first-time VA borrowers with no down payment — which can be financed into the loan. In Florida, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
Conforming loan limits in Florida vary by county. The 2026 FHFA baseline is $832,750 for most counties, with higher limits in designated high-cost areas. Any mortgage exceeding the applicable county limit is a jumbo loan and falls outside Fannie Mae and Freddie Mac guidelines.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10–20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Florida mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for Florida directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Florida. We feature a comprehensive mix of licensed NMLS financial institutions — from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in FL.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data — including the Texas Ratio — ensuring you compare rates from secure, reliable lenders.
Frequently Asked Questions about Mortgage Rates in Florida
How does my credit score affect my rate in Florida?
What is a 30-Year Fixed Mortgage?
What are closing costs in Florida?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in Florida?
Do I need 20% down to buy a house in Florida?
What is the difference between Interest Rate and APR?
How do I find the best lender in Florida?
What is the median home value in Florida?
What is the homeownership rate in Florida?
What is the conforming loan limit in Florida?
What is the median monthly cost of homeownership in Florida?
What are the median property taxes in Florida?
What is the median rent in Florida?
What percentage of homeowners are cost burdened in Florida?
What percentage of renters are cost burdened in Florida?
What are the best Mortgage rates in Florida?
- Partners Federal Credit Union: 5.65% (30-year fixed-rate mortgage loan)
- Publix Employees Federal Credit Union: 5.67% (Jumbo Mortgage 30YR FIXED)
- SUMA Federal Credit Union: 5.88% (30 Year Fixed Mortgage)
- ConnectOne Bank: 5.88% (30 Year Fixed)
- Florida Central Credit Union: 5.85% (30 Year Fixed)
Mortgage Rates by City in Florida
