Interest rate
The rate used to calculate interest on your loan balance. It does not include the fees associated with obtaining the mortgage.
Miami homebuyers, homeowners & investorsMiami Mortgage Rates
Miami Mortgage Rates
Compare your options.
Follow mortgage rate trends, compare monthly payments and explore financing for your Miami purchase or refinance.
Mortgage market dashboard
Explore my payment The market. Your mortgage.
See where national mortgage rates stand, follow the trend and explore what a rate change could mean for your monthly payment.
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National benchmarks, not Miami-specific rates, APRs or a Bennett Capital Partners offer. Mortgage observations are weekly; Treasury observations are daily. Each source has its own reporting date.
Historical perspective
30-year fixed mortgage
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Freddie Mac's weekly Primary Mortgage Market Survey covers conventional, conforming purchase mortgages. Data is distributed through FRED.
| Observation date | Rate |
|---|---|
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One basis point (bp) equals 0.01 percentage point. The benchmark gap pairs the weekly mortgage observation with the Treasury yield on the same date. It is not an MBS spread or a lender's margin.
Make the numbers personal
Illustrative comparisonWhat would a rate change do to your payment?
Compare principal and interest at your selected rate and 0.50 percentage point below or above it.
The selected rate will start with the latest 30-year benchmark when available. You can enter your own rate.
Lower-rate scenario—Principal & interest / monthEnter a rate to compare
Your selected rate—Principal & interest / monthMonthly principal & interest
Higher-rate scenario—Principal & interest / monthEnter a rate to compare
Illustrations assume a fully amortizing fixed-rate loan. Payments exclude property taxes, homeowners and flood insurance, mortgage insurance, HOA dues, fees and points. These are not loan offers or APRs. Actual costs and eligibility require a personalized quote.
Daily mortgage rates by loan type30-year, 15-year, FHA, VA, jumbo and adjustable-rate averages from Mortgage News Daily
The publisher's daily index uses a different methodology from Freddie Mac's weekly survey. Check its displayed update time when comparing figures.
Mortgage News DailyDaily national averages · Interactive history
Sources: Freddie Mac PMMS for weekly 30-year and 15-year mortgage benchmarks; Federal Reserve H.15 via FRED for the daily 10-year Treasury constant maturity yield. Mortgage data is retrieved through FRED with attribution to Freddie Mac. Figures may be revised by their publishers. No forecast is implied.
A lower rate is only part of the decision.
Compare offers for the same loan amount, term, property, occupancy and lock period. Then review the interest rate, annual percentage rate, upfront costs and monthly payment together.
APR
Annual percentage rate includes the interest rate and certain loan charges. Compare similar loan structures; an ARM's APR does not show its maximum possible rate.
Points & lender credits
Discount points trade a higher upfront cost for a lower rate. Rate-related lender credits generally trade a higher rate for help with closing costs. Ask to see both options.
Learn more from the CFPB's interest rate and APR explanation and guide to points and lender credits.
Mortgage options for Miami properties
A standard market index cannot price every borrower or building. Use these distinctions when requesting a purchase or refinance quote.
| Mortgage option | What to compare | Key consideration |
|---|---|---|
| 30-Year Fixed | Rate, APR, points and total interest. | Predictable principal and interest payments; taxes and insurance can change. |
| 15-Year Fixed | Monthly payment and interest over the shorter term. | For the same loan amount at similar rates, payments are higher than a 30-year term. |
| FHA / VA | Program eligibility, mortgage insurance or applicable funding fees, and cash needed. | A lower note rate alone does not establish the lowest total cost. |
| Jumbo | Loan size, down payment, reserves and documentation. | Pricing and eligibility vary by lender above conforming loan limits. |
| Adjustable-Rate | Initial fixed period, index, margin and adjustment caps. | Evaluate the payment after adjustments; future refinancing is not assured. |
| Condo Financing | Project eligibility alongside credit and loan-to-value ratio. | Non-warrantable projects and condotels may require specialty financing. |
| DSCR Investor | Rental cash flow, leverage, fees and any prepayment penalty. | Business-purpose investment pricing differs from primary-home financing. |
Self-employed or using alternative income documentation? Explore bank statement loans. For a statewide overview, see Florida mortgage rates.
What can change your Miami mortgage quote?
Credit score and loan-to-value ratio matter, but the property and the way you use it also shape available financing.
The condominium project
For a Brickell, Downtown Miami or Edgewater condo, review project insurance, reserves, assessments, condition and rental restrictions early. These can affect which programs are available.
Review non-warrantable condo options →The full housing expense
Budget for property taxes, homeowners and any required flood insurance, mortgage insurance and HOA dues. Assessments may add another expense. A principal-and-interest figure leaves these out.
Estimate your housing payment →Loan size & intended use
A primary home, second home and rental property can receive different pricing. Jumbo balances, cash-out requests, alternative documentation and condotel operations require their own review.
Explore mortgage programs →Make your quotes comparable
Get pricing built around your transaction.
- Share your property and plans.
Provide the address or ZIP code, property type, purchase or refinance purpose, occupancy, price or value, loan amount and target closing date.
- Confirm your borrower profile.
Discuss your credit range, income documentation, down payment or equity, and reserves. For a condo, identify the building and known project issues.
- Compare the written costs.
Review available programs, rate, APR, points or credits, lender charges, mortgage insurance and cash to close. Compare Loan Estimates when available.
- Review lock terms.
Confirm the lock period, expiration date, conditions and extension costs in writing before relying on a rate.
Miami mortgage rate FAQs
What are mortgage rates in Miami today?
There is no single rate for every Miami borrower. The Freddie Mac benchmarks and daily Mortgage News Daily feed above provide national market context. A personal quote depends on your loan program, credit, loan-to-value ratio, occupancy, property eligibility, points and lock period. Request pricing for your specific property before making a financing decision.
Are the index rates a Bennett Capital Partners offer?
No. The mortgage benchmarks are third-party national averages, not Miami-specific quotes, APRs or a commitment to lend. Treasury yields and the calculated benchmark gap provide additional context. Check each source date and methodology. If data is unavailable or not current, request a fresh quote rather than relying on an older figure.
Are refinance rates different from purchase rates?
They can be. Purchase, rate-and-term refinance and cash-out refinance transactions can have different pricing and eligibility. Compare the same loan amount, loan term, occupancy, points and lock period. For a refinance, also compare closing costs and the remaining term on your existing mortgage.
Why can a Miami condo receive different pricing from a house?
The lender reviews the condominium project as well as the borrower. Insurance, reserves, assessments, building condition, litigation and rental restrictions can affect program eligibility. A project that does not meet conventional requirements may need a different financing option, which can change the available rate, down payment and costs.
Should I pay points for a lower interest rate?
Compare the additional upfront cost with the expected monthly savings and how long you expect to keep the loan. A simple break-even estimate divides the extra cost by the monthly savings, but does not capture every cost or the time value of money. Request options with and without points using the same loan assumptions.
When should I lock my mortgage rate?
Discuss the closing date, underwriting progress, lock expiration and extension terms with your mortgage professional. A rate lock is subject to its written conditions and may change if material loan details change. A lower rate after locking is not automatic; any float-down option must be confirmed in writing.
Sources & helpful resources
Market sources: Freddie Mac PMMS, Federal Reserve H.15 via FRED and Mortgage News Daily. Compare written offers with the CFPB's Loan Estimate guidance. Explore our mortgage rates guide and mortgage glossary.
Page guidance updated September 8, 2026. This is an editorial date, not a market observation date. Market data is supplied and updated by its publisher; check the source date before using it.
Bennett Capital Partners Mortgage Brokers arranges financing as a mortgage broker. Programs, terms and eligibility are subject to change and borrower and property qualification. Not a commitment to lend. All loans are subject to credit and property approval.