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 | 7.42% | 7.47% | 7.52% | |
| New York | 7.24% | 7.29% | 7.34% | |
| Credit Unions | 6.84% | 6.89% | 7.04% | 9.4/10 |
| Online lenders | 6.94% | 6.99% | 7.14% | 8.1/10 |
| Banks | 7.24% | 7.29% | 7.34% | 7.3/10 |
| 30 year fixed | 7.24% | 7.29% | 7.34% | |
| 30 year fixed FHA | 6.56% | 6.61% | 6.66% | |
| 30 year fixed VA | 6.96% | 7.01% | 7.06% | |
| 30 year fixed Jumbo | 7.47% | 7.85% | 8.04% | |
| 20 year fixed | 6.99% | 7.04% | 7.09% | |
| 15 year fixed | 6.62% | 6.67% | 6.72% | |
| 10 year fixed | 5.32% | 5.37% | 5.42% | |
| 3 year ARM | 4.21% | 4.26% | 4.31% | |
| 5 year ARM | 7.13% | 7.18% | 7.23% | |
| 7 year ARM | 6.83% | 6.88% | 6.93% | |
| 10 year ARM | 7.26% | 7.31% | 7.36% | |
| Satisfaction | 9.0/10 | 8.3/10 | 8.1/10 |
Source: MFP’s Community Home Purchase Rates Survey from New York members in the last 30 days.
Condos and co-ops make up a large share of New York’s housing market, and both come with financing steps a single-family home doesn’t. See our condo and HOA buying guide before you make an offer.
How New York Compares to National Averages
- New York mortgage rates (7.24% for best credit scores) are slightly below national averages (national average: 7.42%).
- Credit unions are more competitive: In New York, credit unions offer 6.84%, banks 7.24%, online lenders 6.94%.
Mortgage Options in New York
- 30 year fixed: 7.24% - most popular long-term option for predictable payments
- 20 year fixed: 6.99% - balance between payment size and interest savings
- 15 year fixed: 6.64% - 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: 7.15% - A mid-term variable option...
- 5 year variable: 6.85% - Shorter-term variable mortgage...
- 3 year variable: 7.26% - 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.
New York Best Mortgage Lenders
See which NY lenders are most recommended for a home mortgage by community members surveys accross the State and in its main metro areas.
Brooklyn, Queens, Manhattan, Bronx, Staten Island, Buffalo, Rochester, Yonkers, Syracuse, Albany, New Rochelle, Mount Vernon, Schenectady, Utica, Online lenders, Brokers & Consultants
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 Info for New York Home Buyers:
Mortgage Rates & Tools
Home Purchase Calculator: Estimate your monthly payment.
NY First-Time Home Buyer: Guide for first home buyers.
Home Affordability Calculator: See what price range fits your budget.
FHA Mortgage Rates: Current rates for FHA buyers.
30 Year Fixed Home Mortgage: Today’s rate for the most common term.
15 Year Fixed Home Mortgage: Today’s rate for faster payoff.
Loan Programs & Assistance
FHA Loans: How FHA mortgages work and who qualifies.
Mortgage Documents Checklist: What you’ll need to apply, including special cases like self-employed and condo buyers.
Down Payment Assistance: Programs that help cover your down payment.
Lenders & Homeowner Resources
Best Mortgage Lenders in New York: Community rated lenders by city.
New York Home Insurance Cost: Average premiums and top rated local insurers.
Homeowner Resources & Grants: Grants and assistance programs nationwide.