We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. The offers that appear on this site are from companies from which TheSimpleDollar.com receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. The Simple Dollar does not include all card/financial services companies or all card/financial services offers available in the marketplace. The Simple Dollar has partnerships with issuers including, but not limited to, Capital One, Chase & Discover. View our full advertiser disclosure to learn more.
New York Mortgage Rates
If you’re looking for a new home in New York, you know that real estate isn’t cheap. New York has some of the most expensive real estate in the nation, but there’s good news: the interest rates aren’t nearly as high.
The COVID-19 pandemic may have caused serious economic damage nationwide, but it brought with it an upside: super low mortgage rates. Prior to the pandemic, we rarely saw mortgage rates drop below 3%. These days, we’re seeing rates well below that marker.
In New York, the average rate for a 30-year fixed rate mortgage loan was just 2.88% as of mid-December. That’s just slightly higher than the national average of 2.86%. A rate that low could save you tens of thousands of dollars in interest over the life of your loan, so if you’re thinking about buying or refinancing in New York, this is the time to make your move.
Mortgage Rates in New York
The mortgage interest rate table below is updated daily to reflect the most current mortgage rates available in the market. According to Bankrate’s latest survey of the nation’s largest mortgage lenders, these are the current average rates for a 30-year fixed, 15-year fixed, FHA and VA mortgage rates.
|Product||Rate||Rate Last Week|
|30-Year Fixed Rate||3.000%||3.020%|
|20-Year Fixed Rate||2.780%||2.840%|
|15-Year Fixed Rate||2.310%||2.370%|
|10-Year Fixed Rate||2.310%||2.360%|
|30-Year FHA Rate||2.480%||2.480%|
|30-Year VA Rate||2.750%||2.750%|
Rates data based on New York, New York as of 7/23/2021
Mortgage Rates Trends
In this graph: On , the APR was for the 30-year fixed rate, for the 15-year fixed rate, and for the 5/1 adjustable-rate mortgage rate. These rates are updated almost every day based on Bankrate’s national survey of mortgage lenders.Toggle between the three rates on the graph and compare today’s rates to what they looked like in the past days.