Mortgage Rates in New York, NY: Today's Averages & 2026 Outlook
New York 30-year fixed rates are running around 6.92% — roughly 7 bps above the national average of 6.85%. Here's how New York rates stack up, what drives the metro spread, and the payment math on a typical New York home.
Today's New York rates by loan type
Estimates for New York based on the current national 30-year average of 6.85% plus the metro's typical spread (+7 bps). Live national rate sourced daily from Freddie Mac PMMS. Your actual quote will depend on your credit, down payment, and lender.
What drives New York mortgage rates
The national 30-year average sets the floor for every New York lender. But the $New York-Newark-Jersey City metro typically prices about 7 basis points above that national benchmark because of local dynamics.
Local market read. One of the tightest inventory markets in the country; jumbo loans dominate the outer boroughs and Westchester.
Who's lending. Big-bank retail lenders and jumbo specialists lead; broker share is elevated versus most metros.
Median deal size. A typical New York loan is around $610,000 on a $725,000 home. That sits at or above the conforming loan limit in higher-cost counties, where jumbo pricing kicks in.
What a typical New York payment looks like
| Line item | Estimate |
|---|---|
| Median home price (New York-Newark-Jersey City) | $725,000 |
| Median loan amount | $610,000 |
| 30-yr rate (New York avg) | 6.92% |
| Monthly principal & interest | $4,026 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$5,234 |
Directional math for New York 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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New York mortgage rates: FAQ
What is today's mortgage rate in New York, NY?▾
The average 30-year fixed mortgage rate in New York is around 6.92% — 15-year fixed near 6.17%, FHA around 6.67%, VA around 6.57%. That's roughly 7 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 New York mortgage rates compare to the national average?▾
New York rates typically sit slightly above (about 7 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 New York-Newark-Jersey City area.
What's the median home price in New York?▾
The median home price in the New York-Newark-Jersey City metro is about $725,000, with a typical loan amount of $610,000 at conventional LTVs. At today's 6.92% rate, principal and interest on that loan runs about $4,026/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues.
Who are the top lenders in New York?▾
Big-bank retail lenders and jumbo specialists lead; broker share is elevated versus most metros. 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 New York?▾
One of the tightest inventory markets in the country; jumbo loans dominate the outer boroughs and Westchester. On rate timing itself, no one can call the exact peak or trough — but if the payment on your target New York home works today at 6.92%, 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.