New York Mortgage Rates

Check Current Mortgage Rates

NEW YORK CONFORMING 30 YEAR FIXED RATES

Today's Average: 4.00% What does this mean?

About Mortgage Rates in New York

Home buyers all over New York, from Manhattan to Rochester, are searching for the best deal on a mortgage rate. In recent years, New York’s real estate market has become saturated with over 7 million housing units that are 53% owner occupied. Prices have come down from historic peaks. Competing banks and endless borrowing opportunities greatly benefit buyers searching for an ideal mortgage package featuring: the lowest interest rate, lowest payment, lowest interest expenses, or lowest closing costs.

We are confident in our access to New York’s best mortgage deals and tools to secure packages for all cases such as new home buyers, refinancing or a second mortgage. Allow Mortgage 101 to help you today.

Mortgage Refinancing in New York

In some instances, refinancing your current mortgage loan can help you lower your mortgage payment. Borrowers can borrow against the equity built up in their home at a lower cost than they can from other sources. Like most mortgage interest, another benefit to mortgage refinancing is that if you pay off credit cards, the interest you pay will now be tax deductible.

The 5/5 & 5/1 Adjustable Rate Mortgage

This mortgage type offers a stable payment and interest rate for the first five years. In the sixth year the interest rates, and therefore the payments, are adjusted every five years for the 5/5 arm and every year for the 5/1 arm.
Fixed Rate Mortgage

Fixed Rate Mortgages in New York

This is your parent's mortgage loan. The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower.

Other Mortgage Terms

Origination Fee - The fee charged by a lender to prepare loan documents make credit checks inspect and sometimes appraise a property; usually computed as a percentage of the face value of the loan.

Closing Costs - Expenses over and above the price of the property that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee property taxes charges for title insurance and escrow costs appraisal fees etc. Closing costs will vary according to the area country and the lenders used.