New York Mortgage Rates Today

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This week, the Freddie Mac national average for a 30-year fixed mortgage rose slightly to 6.69%, moving toward the upper end of the 5.98% to 6.69% range we have seen over the past year. Meanwhile, the 15-year fixed mortgage average currently sits at 6.01%. While these national benchmarks provide a helpful pulse on the broader market, we are pleased to offer more competitive options for our local clients, with our featured New York 30-year fixed pricing currently available at 6.250% with an APR of 6.316%.

For those looking to buy a home or refinance in New York, these rate fluctuations underscore the importance of staying informed and monitoring how specific local pricing compares to the national averages. A slightly lower rate can make a meaningful difference in your monthly budget and long-term interest costs, so it is a great time to review your financial goals and see how current terms align with your plans. We encourage you to reach out if you would like to discuss what these numbers mean for your personal homeownership journey.

How often do New York mortgage rates change?

Mortgage rates can move several times a day as the bond market moves. The rates on this page are refreshed daily from live lender pricing, and the national averages come from Freddie Mac’s weekly survey. For a rate you can actually lock, request a personalized quote.

What credit score do I need to get the best rate in New York?

Pricing generally improves at each credit tier, with the strongest pricing at 780 and above. Loans are available at lower scores, and FHA programs are often the most flexible, though the rate and mortgage insurance costs will differ.

Are these rates the same as my APR?

No. The interest rate determines your monthly principal and interest payment. The APR is a broader measure that folds in lender fees and points, which is why it is usually slightly higher than the rate.

What is a discount point, and should I pay points?

One point equals 1% of your loan amount, paid at closing to lower your rate. Paying points can make sense when you plan to keep the loan long enough for the monthly savings to exceed the upfront cost. Some options instead offer a lender credit, which raises the rate but reduces your closing costs.

What is a CEMA and why does it matter in New York?

New York charges a mortgage recording tax. On a refinance, a Consolidation, Extension and Modification Agreement (CEMA) can let you carry over your existing mortgage rather than record a brand-new one, which can meaningfully reduce that tax. Ask your loan officer whether your refinance qualifies.