Mortgage Rates in Canandaigua, New York — March 2026
Updated March 2026 | Based on Canandaigua market data and regional lending conditions
Canandaigua is a growing city in New York with a population of 10,857. The current 30-year fixed mortgage rate in Canandaigua is 6.78%, which is 0.13% above the national average. With a median home price of $245,000 and a 20% down payment of $49,000, homebuyers can expect a monthly principal and interest payment of approximately $1,275.
Current Mortgage Rates in Canandaigua, NY
Below are the current average mortgage rates available in the Canandaigua area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.78% | 6.65% | +0.13% |
| 15-Year Fixed | 6.02% | 5.89% | +0.13% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.38% | 6.25% | +0.13% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.98% | 6.85% | +0.13% |
Canandaigua Housing Market Overview
The Canandaigua housing market offers relatively affordable housing compared to many major cities. The median household income in Canandaigua is $48,000, and the cost of living index is 92 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $69,600 to comfortably afford the median-priced home in Canandaigua, which exceeds the current median household income.
Monthly Payment Breakdown for Canandaigua
Based on the median home price of $245,000 with 20% down ($49,000), here is what you can expect to pay monthly in Canandaigua:
15-Year vs. 30-Year Mortgage in Canandaigua
Choosing a 15-year mortgage in Canandaigua at 6.02% instead of a 30-year at 6.78% would save you $160,920 in total interest over the life of the loan. However, your monthly payment would be $1,656 instead of $1,275 — an increase of $381 per month.
Calculate Your Canandaigua Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Canandaigua
What are the current mortgage rates in Canandaigua, NY?
As of March 2026, the average 30-year fixed mortgage rate in Canandaigua, New York is 6.78%, while the 15-year fixed rate is 6.02%. FHA loans average 6.38% and VA loans 6.18%. These rates are 0.13% above the national average of 6.65%.
How much is a monthly mortgage payment in Canandaigua?
Based on the median home price of $245,000 with 20% down, the estimated monthly mortgage payment in Canandaigua is $1,275 for principal and interest. Including property taxes of $349/month, the total monthly housing cost is approximately $1,624.
What income do I need to buy a home in Canandaigua?
Using the 28% rule, you would need an annual income of approximately $69,600 to afford the median-priced home in Canandaigua at $245,000. The median household income in Canandaigua is $48,000. This means most households would need to either earn above the median or consider homes below $245,000.
Is Canandaigua a good place to buy a home in 2026?
Canandaigua offers a below-average cost of living with a cost of living index of 92 (national average = 100). The property tax rate in New York is 1.71%, which is above the national average. Canandaigua has a population of 10,857 and offers a very affordable lifestyle.
Mortgage Rates in Other New York Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Canandaigua, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.