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Construction loan rate

I came very close to building what was my dream first home in the Tampa Bay Area recently, however I backed out when I saw the rate on the construction loan: 7%! It basically resulted in an all in payment just short of 5k a month, a 700 or so increase over what it would have been at the average. I have a credit score over 800, are there lenders out there that reasonable rates for that type of loan or is it just the worst time possibly ever to build (not just rates but material costs too, gotta go block in Florida).

submitted by /u/PandemicP3
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source https://www.reddit.com/r/RealEstate/comments/w4cptj/construction_loan_rate/
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