Mortgage Rates in Miami, FL: Today's Averages & 2026 Outlook
Miami 30-year fixed rates are running around 6.91% — roughly 6 bps above the national average of 6.85%. Here's how Miami rates stack up, what drives the metro spread, and the payment math on a typical Miami home.
Today's Miami rates by loan type
Estimates for Miami based on the current national 30-year average of 6.85% plus the metro's typical spread (+6 bps). Live national rate sourced daily from Freddie Mac PMMS. Your actual quote will depend on your credit, down payment, and lender.
What drives Miami mortgage rates
The national 30-year average sets the floor for every Miami lender. But the $Miami-Fort Lauderdale-Pompano Beach metro typically prices about 6 basis points above that national benchmark because of local dynamics.
Local market read. Insurance costs are a bigger driver of affordability than rates; foreign-buyer share is elevated.
Who's lending. Portfolio and non-QM lenders serve heavy foreign-buyer flow.
Median deal size. A typical Miami loan is around $470,000 on a $555,000 home. That sits well inside conforming loan limits, so most Miami buyers get standard agency pricing.
What a typical Miami payment looks like
| Line item | Estimate |
|---|---|
| Median home price (Miami-Fort Lauderdale-Pompano Beach) | $555,000 |
| Median loan amount | $470,000 |
| 30-yr rate (Miami avg) | 6.91% |
| Monthly principal & interest | $3,099 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$4,029 |
Directional math for Miami in 2026. Add property taxes, homeowners insurance, PMI (if less than 20% down), and any HOA dues for full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
More on buying in Florida
Get matched with a Miami lender — free
We'll match you with vetted Miami-area lenders competing for your loan. Compare real Loan Estimates side-by-side — the same Miami buyer can save $2,000–$5,000+ over the life of the loan by shopping three quotes.
Miami mortgage rates: FAQ
What is today's mortgage rate in Miami, FL?▾
The average 30-year fixed mortgage rate in Miami is around 6.91% — 15-year fixed near 6.16%, FHA around 6.66%, VA around 6.56%. That's roughly 6 bps above the current US 30-year average of 6.85%. Your actual rate depends on credit score, down payment, loan type, and lender competition — always compare Loan Estimates from at least three lenders.
How do Miami mortgage rates compare to the national average?▾
Miami rates typically sit slightly above (about 6 bps higher than) the US 30-year average. The metro spread reflects local lender competition, loan mix, and property-tax/insurance dynamics specific to the Miami-Fort Lauderdale-Pompano Beach area.
What's the median home price in Miami?▾
The median home price in the Miami-Fort Lauderdale-Pompano Beach metro is about $555,000, with a typical loan amount of $470,000 at conventional LTVs. At today's 6.91% rate, principal and interest on that loan runs about $3,099/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues.
Who are the top lenders in Miami?▾
Portfolio and non-QM lenders serve heavy foreign-buyer flow. You'll get the best rate by comparing at least three Loan Estimates — a mix of a national non-bank lender, a local credit union, and (for higher loan amounts) a portfolio bank tends to reveal the best pricing for your specific profile.
Should I lock my rate now or wait in Miami?▾
Insurance costs are a bigger driver of affordability than rates; foreign-buyer share is elevated. On rate timing itself, no one can call the exact peak or trough — but if the payment on your target Miami home works today at 6.91%, locking and refinancing later if rates fall is a well-worn playbook. Our Right-Time-to-Buy tool models the wait-vs-buy math for you.