· Freddie Mac PMMS
Informational only. 30YearMortgageRates.com is not a lender. Rates shown are national/regional averages sourced from Freddie Mac PMMS. Actual terms vary by borrower, lender, and market conditions. Full disclosures.
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New York City, NY MORTGAGE RATES • UPDATED

30-Year Mortgage Rates in New York City, NY

Compare current 30-year fixed mortgage rates in New York City, NY. Find the best local lenders, understand New York City market trends, and secure competitive rates for your home purchase or refinance.

$745,000
Median Home Price
6.65%
Avg 30-Yr Rate
Northeast
Market Region
Quick Answer

As of April 2026, the average 30-year fixed mortgage rate in New York City, NY is approximately 6.65%, based on national survey data from Freddie Mac. Rates in New York City generally track the Northeast average, influenced by local housing demand, lender competition, and economic conditions. The median home price in New York City is approximately $745,000. Global financial capital.

Expert Answer · Data-Verified

How do I get a 30-year fixed mortgage in New York City, NY?

Mortgage rates are set by individual lenders and vary by borrower, loan type and day. This page does not publish a measured average rate for New York City, NY. For a sourced national benchmark and its observation date, see today's rates. Freddie Mac's Primary Mortgage Market Survey reports a national average only, not city or state figures.

Borrowers in New York City, NY can choose among conventional 30-year fixed, FHA, VA, USDA, and jumbo loans. For 2026, HUD's FHA one-unit loan limit is $541,287 in most counties and up to $1,249,125 in high-cost areas; the limit that applies depends on the county, so check HUD's lookup for New York. FHA financing can require as little as 3.5% down with a credit score of 580 or higher, subject to lender and program rules. VA loans offer zero down payment for eligible veterans and active-duty service members. Jumbo loans apply above the conforming and FHA limits and generally require credit scores above 700 and 10–20% down.

To secure the best available rate in New York City, NY, compare APRs (not just rates) from at least three NY-licensed lenders within a 14-day window so credit inquiries score as a single event. Credit scores of 740 or higher typically receive the lowest rates; scores below 680 pay 0.25%–0.75% more. Your state housing finance agency may offer down payment assistance (for example, SONYMA Achieving the Dream program); repayment terms, eligibility and income limits vary by program, so confirm them with the agency. Rate locks in New York typically run 30–60 days from pre-approval to closing.

Sources: HUD 2026 FHA loan limits; Freddie Mac PMMS (national benchmark only). Nothing on this page is a lender offer or a rate quote. 30YearMortgageRates.com is not a lender. Actual terms vary by borrower qualifications, lender, and market conditions.

Current Mortgage Rates in New York City, NY

Compare average mortgage rates available to New York City borrowers. Rates are based on national averages from Freddie Mac and may vary by lender, credit score, and loan amount.

Loan TypeRateAPREst. Payment
30-Year Fixed6.65%6.82%$1,925/mo
15-Year Fixed5.90%6.12%$2,585/mo
FHA 30-Year6.25%7.15%$1,845/mo
VA 30-Year6.15%6.38%$1,815/mo
Jumbo 30-Year6.85%7.02%$2,125/mo

Top Mortgage Lenders in New York City, NY

Compare mortgage lenders serving New York City borrowers. All lenders shown are licensed to operate in New York.

Full-Service Mortgage Bank
  • Competitive 30-year fixed rates
  • Local New York City branch offices
  • Same-day pre-approval available
  • Dedicated NY loan officers
View Lender Details

Licensed NY Mortgage Broker
  • Low rate guarantee programs
  • Online application portal
  • First-time buyer specialists
  • Down payment assistance guidance
View Lender Details

Regional Mortgage Company
  • Serving New York since 2005
  • FHA/VA/USDA loan options
  • Free rate lock for 60 days
  • Local market expertise
View Lender Details

New York City Housing Market Overview

Understanding the New York City real estate market helps borrowers make informed mortgage decisions in New York.

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New York City Home Prices

The median home price in New York City is approximately $745,000. Local prices reflect the Northeast market dynamics and New York City's specific economic conditions and housing supply.

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New York City Market Trends

New York City's housing market reflects broader New York trends. Local inventory levels, days on market, and price appreciation help determine the best timing for mortgage applications.

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Cost of Living in New York City

New York City's cost of living, including property taxes and insurance rates, affects the total homeownership cost beyond the mortgage payment for NY residents.

Factors Affecting Mortgage Rates in New York City

Several local and national factors influence the mortgage rates available to New York City homebuyers.

Credit Score in New York City

Your credit score is the biggest factor in your New York City mortgage rate. Aim for 740+ for the best rates. Borrowers with excellent credit save thousands over the life of a 30-year loan.

Down Payment & LTV

A 20% down payment on a $745,000 home in New York City avoids PMI. FHA loans allow 3.5% down, making homeownership more accessible in New York City's market.

Local Lender Competition

Shopping 3-4 New York City-area lenders can save 0.25-0.5% on your rate. Compare banks, credit unions, and mortgage brokers serving the New York City market.

Rate Lock Strategy

When you find a competitive rate in New York City, lock it. Rate locks of 30-60 days protect you from market volatility during the closing process in NY.

Frequently Asked Questions: New York City Mortgage Rates

What is the current 30-year mortgage rate in New York City, NY?+

The average 30-year fixed rate in New York City is approximately 6.65% as of April 2026, based on Freddie Mac data. Your actual rate depends on credit score, down payment, loan amount, and lender. Shopping multiple New York City lenders typically saves 0.25-0.5%.

How much is a down payment on a home in New York City?+

With a median home price of $745,000 in New York City, a 20% down payment would be about $149,000. FHA loans require just 3.5% down, and VA loans offer zero down for eligible veterans in NY.

What credit score do I need for the best rates in New York City?+

For the best mortgage rates in New York City, aim for a credit score of 740+. Scores of 760+ get the absolute best rates. FHA loans in NY accept scores as low as 580 with 3.5% down.

Are there first-time homebuyer programs in New York City?+

Yes. The New York Housing Finance Authority offers down payment assistance and below-market rate programs. Federal programs including FHA, VA, and USDA loans are also available to New York City buyers. Contact local lenders for current program availability.

Should I choose a 30-year or 15-year mortgage in New York City?+

A 30-year fixed offers lower monthly payments, ideal for New York City buyers wanting payment flexibility. A 15-year saves on total interest but requires higher payments. With New York City's median price of $745,000, most buyers choose the 30-year for affordability.

Back to New York Rates

Compare Nearby Mortgage Markets

Explore mortgage rates and housing data in nearby cities to find the best market for your home purchase.

More Cities in New York

Buffalo, NY$225,000Median Home PriceAlbany, NY$265,000Median Home PriceRochester, NY$195,000Median Home PriceSyracuse, NY$185,000Median Home Price

Nearby State Markets

Newark, NJ$385,000Median Home PriceJersey City, NJ$545,000Median Home PricePhiladelphia, PA$265,000Median Home PricePittsburgh, PA$215,000Median Home PriceHartford, CT$275,000Median Home PriceNew Haven, CT$285,000Median Home PriceBoston, MA$750,000Median Home PriceCambridge, MA$875,000Median Home Price
View All New York Mortgage Rates →

Top Mortgage Lenders in New York City, New York

Compare featured mortgage lenders serving the New York City area

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