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Current Mortgage Rates

New York Mortgage Rates are giving home buyers incentive to seek new properties. Since home prices are lower than they were a year ago in the New York City area and other parts of the state, residents are willing to avail themselves of local mortgage rates.

The New York City metropolitan area is one of the nation’s largest cities. This is reflected in the average list price of homes here, currently at $347,100. This amount is higher than the state’s average of just $245,300. Buyers in New York City can find 30-year fixed mortgages with rates of 4.05 to 4.66 percent APR. Nearby, Long Island features a 30-year fixed mortgage with rates of 4.05 to 4.53 percent APR.

Albany, the state capital, has homes with an average list price of $155,900. Like Long Island, the low for a 30-year fixed mortgage is 4.05 percent. A 15-year fixed mortgage is also available with rates of 3.34 to 3.95 percent APR.

The state’s second largest city is Buffalo, where homes in the metropolitan area have recently had an average list price of $140,000. The rates for a 15-year fixed mortgage here match those of Albany, while the national average is 3.48 percent.

Rochester is the state’s third largest city. New York Mortgage Rates are attractive for both fixed and variable mortgages here. A 5/1 adjustable rate mortgage can be found with rates of 3.07 to 3.35 percent APR. Homes in the Rochester area have an average list price of $139,900.

Over in Yonkers, local mortgage rates resemble those of Rochester. A 7/1 ARM is available as well, with rates of 3.12 to 3.33 percent APR. The national average for this type of variable mortgage is 3.23 percent, giving rate hunters in Yonkers an advantage.

Syracuse features the same rates as Rochester and Yonkers for its variable mortgages. Homes in the Syracuse metropolitan area have an average list price of $149,900. In addition, the 30-year fixed mortgage is available for 4.41 to 4.49 percent APR.

The state’s tenth largest city is Utica, where homes have increased in value. $137,000 is the average list price of homes in the Utica area. A 15-year fixed mortgage ranges from 3.68 to 3.95 percent APR here.

Whether buyers are looking for homes in New York City, Long Island or other regions, local mortgage rates are accessible in many areas of the Empire State.

4.25% 30 Year Fixed Rate
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