First American Data & Analytics reports that Florida ranks among the 10 states with the lowest shares of mortgage rate-locked accessible home equity, compared with a national average of 88%.
FLORIDA — Florida recorded a mortgage rate lock-in share of 82% in the second quarter of 2026, below the national average of 88%, according to First American Data & Analytics’ inaugural 2026 Accessible Home Equity & Mortgage Rate Lock-In Trends Report.
The report found that total accessible home equity across the United States reached a record $13.2 trillion during the second quarter of 2026. Of that amount, approximately $11.6 trillion, or 88%, was held by homeowners whose existing primary mortgage rates were below prevailing market rates.
Florida ranked among the 10 states with the lowest shares of accessible home equity classified as locked in, alongside Georgia and several northeastern states.
Florida Among States With Lower Mortgage Rate Lock-In Shares
According to the report, Florida’s 82% lock-in share was the fourth lowest among the states listed, following Connecticut at 74.6%, Massachusetts at 76.7% and Rhode Island at 77.7%.
Georgia followed Florida with a lock-in share of 82.6%.
Despite differences among states, First American Data & Analytics reported that locked-in equity accounted for approximately 75% or more of accessible home equity in every state.
The report also identified the North Port and Miami metropolitan areas among the Florida markets with less severe mortgage rate lock-in relative to other metropolitan areas in its comparison of high-equity markets.
U.S. Accessible Home Equity Reaches Record Level
Nationally, accessible home equity increased 1.9% from the first quarter to the second quarter of 2026 and rose 1.5% compared with the second quarter of 2025.
The $13.2 trillion total represented the highest level in the report’s historical series, which extends back to the first quarter of 2005.
Meanwhile, locked-in accessible home equity totaled $11.6 trillion, increasing 3.2% quarter over quarter but declining 2.0% year over year.
First American Data & Analytics defines accessible home equity as the estimated portion of homeowner equity that may be accessed while maintaining a total loan-to-value ratio of 80% or less.
The report classifies accessible equity as locked in when a homeowner’s existing primary mortgage rate is below the prevailing national average 30-year fixed mortgage rate, which stood at 6.49% at the end of the second quarter of 2026.
Mortgage Rate Lock-In Remains Elevated Nationwide
According to the report, approximately 87% of locked-in accessible equity nationwide was classified as severely or extremely locked in during the second quarter.
Extreme lock-in accounted for approximately $9.64 trillion, representing 83% of all locked-in accessible equity. This category includes homeowners whose mortgage rates were more than 150 basis points below the prevailing national benchmark.
“Many homeowners secured mortgages at record-low rates in 2020 and 2021 and saw their equity surge as home price appreciation soared during the pandemic-era housing boom,” said Genaro Villa, senior economist at First American Data & Analytics.
Villa noted that the share of accessible equity held by rate-locked homeowners increased from 18% in the first quarter of 2021 to 85% in the second quarter of 2022, reaching 88% in the latest report.
Report Tracks Equity and Mortgage Rates Across U.S. Markets
The Accessible Home Equity & Mortgage Rate Lock-In Trends Report combines property valuations, mortgage balances and prevailing interest rates to estimate accessible home equity and mortgage rate lock-in at the national, state and metropolitan levels.
The report includes historical quarterly estimates from the first quarter of 2005 through the second quarter of 2026.
First American Data & Analytics expects to release its third-quarter 2026 report in December.
Source: First American Data & Analytics, *2026 Accessible Home