Latest Market Trends
Current Interest Rates
- Looking at central Florida (Volusia County / New Smyrna Beach region), expect purchase 30-yr fixed rates in the ~6.1% to 6.5% range for well-qualified borrowers, with the state average slightly higher (~6.3%).
- Your actual personal rate will depend heavily on your credit score, down-payment/LTV, property type, points paid, etc.
- A local Florida credit union lists a 30-year FHA purchase rate as “5.625%” with an APR of ~6.419%. CCU Florida
- A large national lender shows for FHA 30-year fixed: “5.99%” rate with APR ~6.818%. Rocket Mortgage
New Construction
Builder incentives / rate buydowns
- In Florida, new‐construction houses have seen a larger share of mortgage‐rate buydowns (builder or affiliated lender funds subsidizing lower rate) — about 4% of new-builds versus ~1% of existing homes. Axios
- Such buydowns can shave 1–3 percentage points off the initial rate (or effectively reduce monthly payment) and thus significantly improve affordability.
- Builders are also offering money towards closing costs - decreasing out-of-pocket expenses.
Lower maintenance & repair risk
- New homes tend to have newer systems, warranties, fewer unknown deferred maintenance issues — reducing surprise costs and giving more predictable cash‐flow/operating cost if you hold as investment or live in.
Energy efficiency / newer building codes
- Potentially lower utilities/insurance/maintenance burden, again improving overall cost profile (though this is more incremental).