As of August 8, 2025, mortgage rates have ticked slightly upward, with the 30-year fixed rate now averaging 6.375%, and the 15-year fixed at 5.5%, according to data from Zillow Home Loans. While rates remain elevated compared to pre-pandemic levels, new signs of stabilization in Florida’s housing market suggest that a national crisis may be easing in key regions.
Current mortgage rates snapshot
Zillow Home Loans reports the following averages:
- 30-Year Fixed: 6.375% (APR: 6.553%)
- 15-Year Fixed: 5.5% (APR: 5.780%)
- 30-Year FHA: 6.000% (APR: 6.678%)
- 30-Year VA: 6.125% (APR: 6.419%)
- 20-Year Fixed: 6.125% (APR: 6.339%)
- 7-Year ARM: 6.75%
These rates reflect national averages and assume good credit and average loan sizes. Your personal rate may vary.
Florida housing market: From crisis to cautious optimism?
After years of price declines, overbuilding, and surging insurance costs, Florida’s housing market is showing early signs of stability, according to multiple homebuilders and Realtor.com analysts.
PulteGroup reported a 2% year-over-year rise in net new orders in Florida last quarter. Sales of move-up homes jumped 18%, and inventory has dropped for three consecutive months, from 182,600 in April to 174,600 in July.
Economists say these trends point to a market approaching balance—not a rebound, but a slowdown in the decline.
“Prices may not rebound quickly, but their current retreat may be coming to an end,” said Realtor.com economist Joel Berner.
What’s driving today’s mortgage trends?
Several factors are influencing rates this week:
- Persistent inflation continues to delay anticipated Fed rate cuts
- Bond market volatility is affecting lender pricing
- Homebuyer demand remains muted, though builder incentives are softening the impact
Borrowers with higher credit scores, larger down payments, and low debt-to-income ratios remain best positioned for below-average rates.
Tips to secure a better mortgage rate
- Improve your credit score (740+ is ideal)
- Make a larger down payment (20% or more helps)
- Consider a shorter loan term (15-year fixed loans have lower rates)
- Get quotes from multiple lenders
Should you lock in a rate now?
If you’re planning to buy this fall, locking in now could protect you from further rate hikes. Some builders are still offering buydowns and incentives to ease costs.
“Rates aren’t expected to drop significantly in the short term,” said a Lakeland, Florida agent. “Buyers are starting to accept that, especially in new construction.”
What happens next?
Florida’s modest signs of recovery may hint at broader regional stabilization. But with the Fed still cautious and affordability stretched, mortgage rates are expected to remain above 6% for the foreseeable future.