See the latest New York mortgage rates for fixed rates: 30 year, 20, 15, 10 FHA, VA, Jumbo, plus variable rates: 10, 7, 5, 3 years. Also see how local rates compare nationally and main lending options available across the state.
Buying a home in New York could be easier with today’s mortgage rates.
New York Mortgage Rates –
The table below shows today’s home purchase mortgage rates for New York, organized by credit score and lender type:
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.31% | 6.36% | 6.41% | |
| New York | 6.12% | 6.17% | 6.22% | |
| Credit Unions | 5.72% | 5.77% | 5.92% | 8.3/10 |
| Online lenders | 5.82% | 5.87% | 6.02% | 7.8/10 |
| Banks | 6.12% | 6.17% | 6.22% | 8.5/10 |
| 30 year fixed | 6.12% | 6.17% | 6.22% | |
| 30 year fixed FHA | 6.56% | 6.61% | 6.66% | |
| 30 year fixed VA | 6.10% | 6.15% | 6.20% | |
| 30 year fixed Jumbo | 6.35% | 6.73% | 6.92% | |
| 20 year fixed | 6.39% | 6.44% | 6.49% | |
| 15 year fixed | 5.76% | 5.81% | 5.86% | |
| 10 year fixed | 5.32% | 5.37% | 5.42% | |
| 3 year ARM | 4.21% | 4.26% | 4.31% | |
| 5 year ARM | 6.32% | 6.37% | 6.42% | |
| 7 year ARM | 6.51% | 6.56% | 6.61% | |
| 10 year ARM | 6.14% | 6.19% | 6.24% | |
| Satisfaction | 9.2/10 | 8.4/10 | 7.7/10 |
Source: MFP’s Community Home Purchase Rates Survey from New York members in the last 30 days.
How New York Compares to National Averages
- New York mortgage rates (6.12% for best credit scores) are slightly below national averages (national average: 6.31%).
- Credit unions are more competitive: In New York, credit unions offer 5.72%, banks 6.12%, online lenders 5.82%.
Mortgage Options in New York
- 30 year fixed: 6.12% - most popular long-term option for predictable payments
- 20 year fixed: 6.39% - balance between payment size and interest savings
- 15 year fixed: 5.76% - lower total interest cost for borrowers building equity faster
- 10 year fixed: 5.32% - shortest fixed-term option with competitive rates
- 10 year variable: 4.21% - Offers a longer initial period with a variable rate...
- 7 year variable: 6.32% - A mid-term variable option...
- 5 year variable: 6.51% - Shorter-term variable mortgage...
- 3 year variable: 6.14% - Quick-adjusting mortgage...
- FHA mortgage: government-backed with flexible credit requirements
- VA mortgage: exclusive to veterans and military members with competitive rates
New York Metro Mortgage Rates*
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Brooklyn | 6.52% | 5.79% |
| Buffalo | 6.47% | 5.74% |
| Rochester | 6.48% | 5.75% |
| Albany | 6.49% | 5.76% |
| Syracuse | 6.48% | 5.75% |
* APR rates shown are for borrowers with excellent credit. Click city names to view recommended lenders and ratings.
Compare Lenders Rated by New York Homeowners
New York homeowners rated their mortgage lenders on:
- Ease of application
- Rates and terms offered
- Customer support and advice
- Overall recommendation %
See the Best Mortgage Lenders in New York
FAQs New York Mortgage Rates
Are home purchase rates higher in New York than the U.S. average?
Yes, New York rates typically run slightly above the national average due to regional economic factors and housing demand.
What credit score is best for buying a home in New York?
A credit score of 720 or higher will generally secure the most competitive mortgage rates in New York’s market.
Is it better to choose a fixed-rate or ARM in New York?
Fixed-rate mortgages provide payment stability for long-term homeowners, while ARMs may offer lower initial rates for those planning to move sooner.
More New York Home Information:
New York Best Mortgage Lenders
New York Best Home Insurance from Community Recommendations & Insurance Costs
More Resources for New York Homeowners.