Florida a national leader in second mortgages

If a having a second home is a sure sign of success, then consider Florida a Grade A student.

The state placed seven regions in a new report, from data firm SmartAsset, on the hottest spots nationwide for mortgages on secondary properties. The list compared data for 400 metro areas across two metrics: number of mortgages for secondary residences and total number of mortgages approved in 2018. The top 25 on the list all posted secondary mortgage rates of at least 14% — well above the national mark of 3.8%