Today's Mortgage Rates

Advertised averages rarely match the rate you will actually be offered. Share your loan amount, property and credit range and we will send personalized purchase or refinance rates for your Florida home.

What Determines Your Mortgage Rate

Mortgage rates move every day with the bond market, but the rate you are quoted also depends on your own profile and the loan you choose. That is why two borrowers can get different quotes on the same morning.

  • Credit score. Higher scores generally qualify for lower rates and lower mortgage insurance costs.
  • Down payment or equity. A lower loan-to-value ratio usually means better pricing.
  • Loan type and term. Conventional, FHA, VA and jumbo loans are priced differently, and 15-year loans usually carry lower rates than 30-year loans.
  • Property and occupancy. Primary residences get better pricing than second homes and investment properties, and condos can price differently from single-family homes.
  • Discount points and lock period. Paying points lowers the rate, and longer rate locks can cost slightly more.

How to compare rate quotes

Compare offers on the same day, for the same loan amount, program, term and lock period. Look at the APR as well as the interest rate, because the APR includes points and many lender fees. Once you apply, each lender must give you a standardized Loan Estimate within three business days, which makes side-by-side comparison much easier.

Rate benchmarks

For a sense of the national market, Freddie Mac publishes its weekly Primary Mortgage Market Survey of average 30-year and 15-year fixed rates. Your personal quote may be higher or lower than the average depending on the factors above.

Ready to estimate a payment? Use our mortgage payment calculator or learn how points, APR and rate locks work.

Mortgage Rate Questions

Online rates are usually averages or best-case examples that assume excellent credit, a large down payment and sometimes paid points. Your quote reflects your credit, loan amount, property type, occupancy and lock period.

The interest rate sets your monthly principal and interest payment. The APR expresses the yearly cost of the loan including points and many lender fees, so it is useful for comparing offers that have different costs.

Most buyers lock once they have a signed purchase contract, and refinance borrowers lock once they decide to proceed. Choose a lock period long enough to cover your expected closing date to avoid extension fees.

Loan programs, rates and terms are subject to credit approval, property eligibility and change without notice. This page is general information, not a commitment to lend. Lending Warehouses of America, NMLS ID 332663.