Mortgage rates today remain steady with the average 30-year fixed at 6%, according to Zillow. But as rates level out, housing markets—especially in Florida—are shifting rapidly. For buyers, that means more negotiating power and more listings to choose from.
Current mortgage rates from Zillow
As of September 22, 2025, here’s where rates stand for the most common loan types:
- 30-year fixed: 6.000% (APR: 6.179%)
- 15-year fixed: 5.375% (APR: 5.668%)
- 30-year FHA: 5.875% (APR: 6.530%)
- 30-year VA: 6.000% (APR: 6.277%)
- 20-year fixed: 5.875% (APR: 6.126%)
For buyers with strong credit and a solid down payment, personalized rates could come in lower.
Florida housing market shifts to buyers
In a dramatic reversal from its pandemic-era boom, Florida has officially entered buyer-friendly territory. Major metros like Miami, Orlando, Jacksonville, and Tampa now offer:
- More inventory: Florida leads the nation with 167,000 active listings
- Longer market times: Homes are sitting 16+ days longer in some cities
- Price cuts: Nearly a quarter of listings in places like Orlando and Tampa have seen reductions
Months of supply—a key metric—has jumped:
- Miami: 9.7 months
- Orlando: 7.0 months
- Jacksonville & Tampa: 6.3 months
(Above 6 months typically indicates a buyer’s market.)
Why rates are holding steady—for now
While the Fed has recently made moves suggesting a softer monetary stance, mortgage rates haven’t dropped significantly yet. Lenders remain cautious, balancing inflation concerns with a cooling housing market.
Adjustable-rate options like a 7-year ARM currently sit at 6.125%, but most borrowers still lean toward fixed rates for long-term predictability.
Tips to get the best mortgage rate
To lower your rate, focus on these key factors:
- Boost your credit score: A higher score = better offers
- Make a larger down payment: Reduces lender risk
- Lower your debt-to-income ratio: Shows you can handle monthly payments
- Get pre-approved: Especially important in competitive or fast-moving markets
Zillow’s BuyAbility tool can provide a custom estimate based on your income, location, and credit.
Should you lock in your rate now?
If you’re shopping for a home in a market like Florida—where prices are cooling and supply is rising—locking in a rate now can provide stability. Rates aren’t skyrocketing, but they’re not plummeting either.
For most buyers, especially first-timers, locking now avoids the risk of future hikes while giving time to explore better housing deals.