Florida Mortgage and Refinance Rates for September 2026

As of Monday, September 28, 2026, current interest rates in Florida are 6.98% for a 30-year fixed mortgage and 6.40% for a 15-year fixed mortgage. 

After peaking near 8% in October 2023, mortgage rates in Florida — and nationally — have decreased, but not as quickly as many homebuyers had hoped. In recent months, economic uncertainty has caused rates to fall a bit more, but they still average between 6 and 7% — a significant increase over COVID-era rates. Bankrate’s 2026 forecast calls for mortgage rates to fall below 6% for the first time in more than three years, averaging 6.1% throughout the year after dropping to a low of 5.7% and reaching a high of 6.5%. 

Refinances rates in Florida and across the country have been trending upward. In the fourth quarter of 2025, the total number of refinance loans had increased by nearly 6% compared to the previous quarter, and were up 11% versus the year prior, according to real estate data provider ATTOM

If you’re thinking about a cash-out refinance in the current market, pay close attention to your property value. Cotality (formerly CoreLogic) reports that the typical Florida homeowner lost more than $29,000 of equity in 2025.

While the Sunshine State's real estate market has been hot in recent years, the state’s homeowners insurance crisis makes owning a home there more challenging. The state's median sales price is lower than the national median. According to Florida Realtors, the median price decreased year-over-year in January, while the average price increased during the same time frame. In addition, the number of new listings in the state increased by 7% year-over-year.

Properties are also sitting on the market longer in Florida, and sellers are agreeing to accept offers well below list price.

• • Median home sales price, Jan. 2026: $405,000
  • Median home value, Feb 2026: $388,250
  • Median down payment, Feb. 2025: $61,602
  • Median days on market, February 2026: 83
  • Percentage of homes sold above list price, February 2026: 9.1%
  • Percentage of homes with price drops, February 2026: 27.6%
  • Homeownership rate, Q4 2025: 65.4%

Source: ATTOM, Redfin, Florida Realtors, U.S. Census Bureau

• Florida conventional mortgages: Considered the standard type of home loan, conventional mortgages have certain qualification requirements: a minimum FICO score of 620 and a debt-to-income (DTI) ratio of 43% or less. To get the best rate on a conventional mortgage, however, you’ll need a credit score of 740 or higher. These types of loans typically require larger down payments than government-backed mortgages. To avoid needing to pay for private mortgage insurance (PMI), which protects the lender in the event you default, you’ll need to make a 20% down payment.
• Florida FHA loans: If your credit history disqualifies you from a conventional mortgage, you might want to look into an FHA loan. Because these are insured by the government through the Federal Housing Administration (FHA), lenders who issue these loans are more comfortable extending these offers to borrowers with less than favorable credit and income. You can have a credit score as low as 580 and still qualify for an FHA loan, provided you can put down 3.5%.
• Florida VA loans: Guaranteed by the Department of Veterans Affairs, VA loans help veterans and other qualifying members of the armed services own homes. You can get one through a VA-approved lender in Florida. These types of loans don’t typically require any down payment or mortgage insurance premiums, but you usually need to pay a funding fee, which ranges from 1.25-2.15% for a first home purchase.
• Florida jumbo loans: With oceanfront properties statewide, there are many luxury homes available for sale in places like Miami and Naples. However, if you need to borrow an amount that exceeds the area’s conforming loan limits, you’ll need to compare options for jumbo loans. These typically come with a requirement for a larger down payment — at least 10% of the purchase price — and a higher credit score.