New Jersey Mortgage Rates Today — Compare NJ Lenders
The average 30-year fixed mortgage rate in New Jersey is currently 6.68% APR. New Jersey has the highest property taxes of any US state. Factor annual taxes carefully — they significantly impact your true monthly housing cost. Compare today’s rates from top New Jersey lenders across all major loan types below.
New Jersey Mortgage Rate Comparison Table
Rates below assume a 740+ credit score, 20% down payment, and a $550,000 loan on a single-family primary residence in New Jersey.
| Loan Type | Interest Rate | APR | Best For |
|---|---|---|---|
| 30-Year Fixed | 6.68% | 6.68% | Most Popular |
| 15-Year Fixed | 6.02% | 6.02% | Pay off faster, save interest |
| 5/1 ARM | 6.80% | 6.80% | Short-term owners |
| FHA 30-Year | 6.31% | 6.31% | Low down payment |
| VA 30-Year | 6.13% | 6.13% | Veterans & military |
| 30-Year Refinance | 6.80% | 6.80% | Existing homeowners |
Rates sourced from lender survey data and updated regularly. Actual rates vary by lender and borrower profile. See disclaimer.
Understanding Mortgage Rates in New Jersey
New Jersey is one of the most expensive housing markets in the US, driven by its proximity to New York City and Philadelphia. The state has the highest property taxes of any US state, with average effective rates exceeding 2% annually — meaning a $500,000 home could carry $10,000+ in annual property taxes.
New Jersey’s diverse markets range from ultra-high-cost NYC bedroom communities in Bergen and Hudson counties to more affordable markets in South Jersey. The Jersey Shore attracts significant vacation and retirement home demand.
What Affects Your New Jersey Mortgage Rate?
Several key factors influence the rate a New Jersey lender will offer you: your credit score (740+ gets the best rates), your down payment (20%+ eliminates PMI), your loan type (VA and FHA often beat conventional), and broader market conditions driven by the Federal Reserve and Treasury yields. Always compare at least 3–5 lenders — the spread between best and worst rate can be 0.5–1.0%.