Is Refinancing Worth It in 2025? Florida Market Insights & Mortgage Rates June 2025

Chris Lai
Jun 21
2 min read

Palm trees sway against a clear blue sky with scattered clouds, creating a tropical and tranquil atmosphere.

🌴 Florida Mortgage Rates in 2025: Where We Stand

As of mid‑June 2025, the average 30‑year fixed mortgage rate in Florida hovers around 6.78%–6.87%

Refinance-specific rates are slightly lower—about 6.83% nationally, with Florida’s closely aligned.

Analysts expect stability or slight improvement—in the 6.5% range by year-end, aligning with national forecasts.

Why You Might Refinance in FL

You locked in a rate above today’s average
If your current mortgage sits near 8 %+, refinancing now at ~6.8% could shave hundreds off your monthly P&I payments.
Break-even math is essential.
Closing costs typically range from 2–6% of your loan. Experts say the rate drop needs to be at least half a percentage point to generate meaningful savings over time.
Strategies Matter
- Rate‑and‑term refinance: Lower the rate and/or shorten the loan.
- Cash‑out refinance: Access equity for renovations or debt consolidation—but this increases your loan balance

Florida-Specific Angle: Trends & Tips

Refinance volume is up—early 2025 saw a significant increase compared to last year.
More inventory in FL gives homeowners flexibility to act when the numbers align.

Is It Worth It? Checklist

Factor	Why It Matters
Difference in rates ≥ .5%	Critical for savings
You plan to stay ≥ 5 years	Helps you recoup closing costs
No hefty prepayment penalty	Ensure your current loan allows a refinance
Solid credit profile	620+ score generally needed; 740+ gets best rates

Looking Ahead

Mortgage rates remain high by historical standards and are likely to stay in the 6–7% bracket through 2025.
The Fed’s decisions, inflation trends, and broader economic conditions will be big drivers.
If rates dip into the mid‑6% range, some may consider refinancing again for added savings.

Final Take for Florida Homeowners

Mortgage Rates and Refinancing in 2025 could make sense if you’re currently paying over ~7% and can lock in at least a 0.5–1% lower rate—but only if you're sticking around long enough to recover closing costs. Florida’s rising inventory, buydown incentives, and steady refinance activity suggest it’s a smart time to evaluate your options.

Pro tip: Run the numbers! If your monthly savings × number of months you’ll stay is greater than the closing costs, refinancing could be a win.

A man in a dark suit and white shirt smiles against a plain black background. He's positioned in the center, conveying a formal yet friendly mood. — Chris Lai Mortgage Loan Originator

Chris Lai is a Licensed Mortgage Professional of Shupe Lending Group NMLS ID# 2478065. Many of the borrowers of Shupe Lending Group are individuals who did not qualify at other lenders due to those lenders' overlays on government and conventional loans. We have a reputation of being able to work with over 270 different lenders to be able to offer out clients dozens of non-QM and alternative financing loan programs. Any non-QM mortgage loan program available in the market will be offered by our team at Shupe Lending Group. Our team is available 7 days a week, evenings, weekends, and holidays.