Data Analysis

The 30-year fixed slipped two basis points last week and still sits above where it was last August.

Freddie Mac's survey for the week ending August 20 put the 30-year fixed mortgage rate at 6.65 percent, down from 6.67 percent the week before and up from 6.58 percent a year ago. On a median-priced Florida single-family home with 20 percent down, that year of drift adds about $16 a month.

The 30-year fixed averaged 6.65 percent in the week ending August 20, and the 15-year averaged 5.95 percent (Freddie Mac Primary Mortgage Market Survey, week ending 2026-08-20; also FRED MORTGAGE30US and MORTGAGE15US). Both moved less than a basis point and a half off the prior week's 6.67 and 5.96.

A two basis point move is inside the noise of a weekly survey. What matters is the level it is drifting around, and that level has barely changed since spring.

What this means for a mortgage

Take the July statewide median single-family price of $425,000 (Florida Realtors, July 2026 data, as reported here August 17) with 20 percent down. That is a $340,000 loan.

At 6.65 percent, principal and interest run $2,182.68 a month. At last week's 6.67 percent it was $2,187.18. The week bought a Florida buyer $4.50.

Against a year ago the arithmetic runs the other way. At 6.58 percent that same loan cost $2,166.95, so today's rate adds $15.73 a month, about $189 over a year. Twelve months of headlines about rates easing have left a buyer paying slightly more.

The 15-year has drifted further. At 5.95 percent the payment is $2,859.94 against $2,812.48 at last year's 5.69 percent, a difference of $47.45. The 30-year is 7 basis points above its year-ago level and the 15-year is 26 above, so the shorter term has given up more ground.

The Florida translation

Rates that sit still put the weight on everything else, and everything else in Florida has been soft. Pending home sales slipped in the July data (NAR Pending Home Sales Index, released August 18). Florida building permits slid in the same week's construction release (Census New Residential Construction, released August 18). State payroll detail landed August 21 (BLS State Employment and Unemployment, with county and metro detail from FloridaCommerce).

For a buyer choosing between terms right now, the 15-year costs $677.26 more a month on the same $340,000 loan. That gap is the real decision on the table this week, and it is a larger number than anything the rate itself did.

The July FOMC minutes, released August 19 at 2 p.m. ET, showed the committee holding at 3.50 to 3.75 percent with many participants assessing that tightening would likely be necessary if inflation did not decline. A mortgage rate flat at 6.65 percent is consistent with a policy path that has stopped promising relief.

Limitations

Payment figures are principal and interest only, calculated by Momentum Research on a $340,000 loan at the quoted survey averages. They exclude property taxes, homeowners insurance, flood insurance, HOA and condo fees, and mortgage insurance, all of which carry unusual weight in Florida.

PMMS is a survey of lender offerings for borrowers with strong credit and 20 percent down. An individual quote will differ by credit profile, loan size, points paid, property type and county.

The $425,000 median is a statewide single-family figure for July and is not the price of any specific home or market.

Sources and links

• Freddie Mac Primary Mortgage Market Survey, week ending August 20, 2026: freddiemac.com/pmms
• FRED MORTGAGE30US and MORTGAGE15US: fred.stlouisfed.org
• Florida Realtors monthly market data, July 2026: floridarealtors.org
• Federal Reserve FOMC calendars and minutes: federalreserve.gov

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.