Mortgage Rates in Buffalo, NY: Today's Averages & 2026 Outlook
Buffalo 30-year fixed rates are running around 6.89% — roughly 4 bps above the national average of 6.85%. Here's how Buffalo rates stack up, what drives the metro spread, and the payment math on a typical Buffalo home.
Today's Buffalo rates by loan type
Estimates for Buffalo based on the current national 30-year average of 6.85% plus the metro's typical spread (+4 bps). Live national rate sourced daily from Freddie Mac PMMS. Your actual quote will depend on your credit, down payment, and lender.
What drives Buffalo mortgage rates
The national 30-year average sets the floor for every Buffalo lender. But the $Buffalo-Cheektowaga metro typically prices about 4 basis points above that national benchmark because of local dynamics.
Local market read. One of the most affordable large metros; multi-offer inventory persists.
Who's lending. Regional banks (M&T) hold outsized share.
Median deal size. A typical Buffalo loan is around $220,000 on a $245,000 home. That sits well inside conforming loan limits, so most Buffalo buyers get standard agency pricing.
What a typical Buffalo payment looks like
| Line item | Estimate |
|---|---|
| Median home price (Buffalo-Cheektowaga) | $245,000 |
| Median loan amount | $220,000 |
| 30-yr rate (Buffalo avg) | 6.89% |
| Monthly principal & interest | $1,447 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$1,881 |
Directional math for Buffalo in 2026. Add property taxes, homeowners insurance, PMI (if less than 20% down), and any HOA dues for full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
More on buying in New York
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Buffalo mortgage rates: FAQ
What is today's mortgage rate in Buffalo, NY?▾
The average 30-year fixed mortgage rate in Buffalo is around 6.89% — 15-year fixed near 6.14%, FHA around 6.64%, VA around 6.54%. That's roughly 4 bps above the current US 30-year average of 6.85%. Your actual rate depends on credit score, down payment, loan type, and lender competition — always compare Loan Estimates from at least three lenders.
How do Buffalo mortgage rates compare to the national average?▾
Buffalo rates typically sit slightly above (about 4 bps higher than) the US 30-year average. The metro spread reflects local lender competition, loan mix, and property-tax/insurance dynamics specific to the Buffalo-Cheektowaga area.
What's the median home price in Buffalo?▾
The median home price in the Buffalo-Cheektowaga metro is about $245,000, with a typical loan amount of $220,000 at conventional LTVs. At today's 6.89% rate, principal and interest on that loan runs about $1,447/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues.
Who are the top lenders in Buffalo?▾
Regional banks (M&T) hold outsized share. You'll get the best rate by comparing at least three Loan Estimates — a mix of a national non-bank lender, a local credit union, and (for higher loan amounts) a portfolio bank tends to reveal the best pricing for your specific profile.
Should I lock my rate now or wait in Buffalo?▾
One of the most affordable large metros; multi-offer inventory persists. On rate timing itself, no one can call the exact peak or trough — but if the payment on your target Buffalo home works today at 6.89%, locking and refinancing later if rates fall is a well-worn playbook. Our Right-Time-to-Buy tool models the wait-vs-buy math for you.