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Fort Lauderdale

Current Mortgage Rates in Fort Lauderdale, Florida

Compare mortgage rates and fees for leading lenders in Fort Lauderdale, FL. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Fort Lauderdale.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fort Lauderdale. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Fort Lauderdale, FL as of October 22, 2019
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Get Personalized Mortgage Quotes for Fort Lauderdale, FL

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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Fort Lauderdale, FL Mortgage Rates Compare?

October 22, 2019

The current average rate for a 30 year fixed rate mortgage in Fort Lauderdale is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Fort Lauderdale, FL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Fort Lauderdale, Florida?

The median home value for Fort Lauderdale, FL (Broward County) is $289,377

The median household income for Fort Lauderdale, FL (Broward County) is $56,573

Based on current mortgage rates and a 10% down payment, you need to make $53,689 per year to buy the median priced home in Fort Lauderdale

The home price you can afford to buy based on household income in Fort Lauderdale is 105% of the median home value which means housing prices are average

Fort Lauderdale (Broward County) ranks 62 out of 67 counties in Florida and 2,972 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Fort Lauderdale, FL is average

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Loan Limits for Fort Lauderdale, Florida

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fort Lauderdale (Broward County) below.

Conforming loan limits for Fort Lauderdale, FL

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Fort Lauderdale, FL

1 unit: $356,500
2 units: $456,350
3 units: $551,650
4 units: $685,550

VA loan limits for Fort Lauderdale, FL

1 unit: $484,350

Additional Mortgage Resources for Fort Lauderdale, FL Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index