New York Mortgage Rates Today — Compare NY Lenders
The average 30-year fixed mortgage rate in New York is currently 6.72% APR. New York City boroughs and Westchester have conforming loan limits up to $1,149,825. Upstate markets are dramatically more affordable. Compare today’s rates from top New York lenders across all major loan types below.
New York Mortgage Rate Comparison Table
Rates below assume a 740+ credit score, 20% down payment, and a $600,000 loan on a single-family primary residence in New York.
| Loan Type | Interest Rate | APR | Best For |
|---|---|---|---|
| 30-Year Fixed | 6.72% | 6.72% | Most Popular |
| 15-Year Fixed | 6.05% | 6.05% | Pay off faster, save interest |
| 5/1 ARM | 6.85% | 6.85% | Short-term owners |
| FHA 30-Year | 6.35% | 6.35% | Low down payment |
| VA 30-Year | 6.18% | 6.18% | Veterans & military |
| 30-Year Refinance | 6.84% | 6.84% | 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 York
New York has one of the most diverse mortgage markets in the US, spanning from ultra-high-cost Manhattan and the NYC metro to very affordable upstate markets in Buffalo and Rochester. The state’s high property taxes — among the highest in the US — add significantly to total housing costs.
Buffalo and Rochester offer some of the most affordable large-city housing in the Northeast. Albany’s government employment provides stability. The Hudson Valley attracts New York City transplants seeking more space and natural beauty.
What Affects Your New York Mortgage Rate?
Several key factors influence the rate a New York 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%.