Mortgage Rates in New York — June 2026
Compare mortgage rate benchmarks across 163 cities in New York. Amortio's estimated state average for a 30-year fixed loan is 6.71%, which is 0.23% above the Freddie Mac national benchmark of 6.48% from June 4, 2026. These figures are informational estimates, not lender quotes or APR offers.
What is the current New York mortgage-rate benchmark?
Amortio's New York state table shows an estimated 6.71% 30-year benchmark across 163 cities, versus Freddie Mac's 6.48% national 30-year PMMS benchmark from June 4, 2026. Use it to compare city payments, then request same-day lender Loan Estimates for APR, points, fees, lock period, and cash-to-close.
How to Read New York Mortgage Rates
New York is not one uniform mortgage market. The rate table below covers 163 cities, but the real payment difference comes from home price, income, property taxes, loan size, and whether a borrower fits conventional, FHA, VA, or jumbo pricing. Use this page to compare cities first, then use lender quotes for final APR and fee decisions.
- At the state-average payment of $1,936 per month and median income of $66,426, New York looks stretched relative to the standard 28% housing-cost guideline.
- The observed city-level 30-year benchmark spread is 0.89 percentage points, from 6.01% to 6.9%. Even small rate differences matter more in expensive cities because they apply to larger loan balances.
- Property taxes are a bigger part of the payment conversation here, so compare principal-and-interest estimates with escrow included before choosing a lender.
- For buyers comparing down payment choices, pair this state page with the PMI calculator, affordability calculator, and closing cost estimator before assuming the lowest advertised rate creates the lowest total cost.
Payment-Efficient New York Cities
| City | P&I / Income | Monthly P&I | Median Income | 30-Year Rate |
|---|---|---|---|---|
| Hornell | 16.3% | $408 | $30,000 | 6.01% |
| North Bellmore | 18.3% | $1,091 | $71,500 | 6.76% |
| Elmira | 18.5% | $463 | $30,000 | 6.14% |
| Highland Falls | 18.7% | $1,309 | $84,000 | 6.84% |
| Avoca | 19.4% | $1,284 | $79,500 | 6.65% |
Highest-Priced New York Markets to Stress-Test
New York Mortgage Quote Comparison Worksheet
Use this checklist before choosing between lender quotes, state assistance, builder credits, or a temporary buydown. It is built to catch the costs that do not show up in a simple rate table.
| Line Item | What to Compare |
|---|---|
| Rate vs APR | APR exposes points, lender fees, and credits that can hide inside a lower advertised rate. |
| Cash to close | Compare down payment, closing costs, prepaid taxes, insurance escrow, and any assistance or seller credit. |
| Payment after escrow | New York buyers should compare principal, interest, property tax, insurance, HOA or condo dues, and mortgage insurance together. |
| Assistance terms | Down payment assistance can be a grant, forgivable second, deferred second, or repayable loan; the repayment rule changes the real cost. |
| Rate lock and buydown | Temporary buydowns and lender credits can improve the first-year payment while leaving a higher long-run payment. |
A strong New York mortgage comparison should include at least two lender Loan Estimates plus one program or assistance check where available. Pair this worksheet with the affordability calculator, PMI calculator, and closing cost estimator.
New York SONYMA, County Price & Tax Notes
New York borrowers should compare mortgage-rate benchmarks with SONYMA programs, down payment assistance, county loan limits, co-op or condo rules, property taxes, and whether NYC-area pricing pushes the loan into a different bucket.
- SONYMA offers New York State mortgage programs through participating lenders for eligible borrowers; product rules should be verified before applying.
- SONYMA down payment assistance can change cash-to-close, but the full decision should compare APR, assistance repayment terms, mortgage insurance, and lender fees.
- New York City, Long Island, Hudson Valley, upstate, and Western New York markets can have radically different price, tax, co-op, and loan-limit assumptions.
- Co-op, condo, mansion-tax, transfer-tax, and board-approval issues can change New York mortgage planning beyond the rate itself.
New York Loan Limit & Assistance Checks
| Area | Conforming | FHA | Why It Matters |
|---|---|---|---|
| New York conventional loans | Use FHFA lookup | Use HUD lookup | County high-cost limits can matter in NYC, Long Island, Westchester, and other expensive markets. |
| SONYMA-assisted purchase | Program-specific | Program-specific | Eligibility, purchase-price limits, participating lenders, and assistance rules should be verified. |
| Co-op or condo purchase | Project-specific | Project-specific | Board approval, reserves, project eligibility, and closing costs can change financing options. |
Official New York Mortgage Sources
New York Housing Highlights
All 163 Cities in New York
| City | 30-Yr Rate | Home Price | Monthly P&I | Population |
|---|---|---|---|---|
| New York | 6.6% | $680,000 | $3,474 | 8,336,817 |
| Oyster Bay | 6.68% | $540,000 | $2,782 | 293,214 |
| Buffalo | 6.6% | $175,000 | $894 | 278,349 |
| North Hempstead | 6.82% | $550,000 | $2,874 | 237,610 |
| Babylon | 6.77% | $474,000 | $2,465 | 213,234 |
| Yonkers | 6.6% | $545,000 | $2,785 | 211,569 |
| Rochester | 6.6% | $135,000 | $690 | 211,328 |
| Huntington | 6.8% | $567,000 | $2,957 | 203,264 |
| Syracuse | 6.6% | $135,000 | $690 | 148,620 |
| Ramapo | 6.85% | $510,000 | $2,673 | 142,368 |
| Amherst | 6.66% | $460,000 | $2,365 | 126,082 |
| Smithtown | 6.78% | $454,000 | $2,363 | 117,801 |
| Albany | 6.6% | $215,000 | $1,098 | 99,224 |
| Greece | 6.79% | $442,000 | $2,303 | 96,095 |
| Clarkstown | 6.89% | $469,000 | $2,469 | 86,855 |
| Colonie | 6.67% | $404,000 | $2,079 | 81,591 |
| New Rochelle | 6.6% | $625,000 | $3,193 | 79,726 |
| Mount Vernon | 6.61% | $422,000 | $2,158 | 73,893 |
| Cheektowaga | 6.75% | $427,000 | $2,216 | 73,536 |
| Tonawanda | 6.85% | $455,000 | $2,385 | 72,795 |
| Schenectady | 6.6% | $175,000 | $894 | 67,878 |
| Bay Ridge | 6.85% | $490,000 | $2,569 | 64,000 |
| Brentwood | 6.67% | $438,000 | $2,254 | 62,376 |
| Utica | 6.64% | $453,000 | $2,324 | 62,235 |
| Clay | 6.86% | $452,000 | $2,372 | 58,805 |
| White Plains | 6.86% | $497,000 | $2,608 | 58,327 |
| Hamburg | 6.7% | $425,000 | $2,194 | 56,936 |
| Hempstead | 6.82% | $400,000 | $2,090 | 55,361 |
| Levittown | 6.61% | $426,000 | $2,179 | 51,881 |
| Troy | 6.9% | $474,000 | $2,497 | 51,401 |
| Irondequoit | 6.66% | $485,000 | $2,493 | 50,450 |
| Lansing | 6.73% | $245,000 | $1,269 | 49,498 |
| Amsterdam | 6.6% | $305,000 | $1,558 | 49,486 |
| Niagara Falls | 6.66% | $395,000 | $2,031 | 48,671 |
| Binghamton | 6.61% | $441,000 | $2,256 | 47,969 |
| West Seneca | 6.74% | $419,000 | $2,172 | 44,711 |
| Pelham | 6.63% | $335,000 | $1,717 | 44,042 |
| Hicksville | 6.87% | $374,000 | $1,965 | 43,719 |
| Freeport | 6.78% | $377,000 | $1,962 | 43,713 |
| West Babylon | 6.89% | $448,000 | $2,358 | 43,213 |
| 123 more New York city mortgage-rate pages are available as individual pages and in the XML sitemap. | ||||
New York Mortgage Rates Guide — 2026
New York homebuyers can use an estimated 30-year fixed benchmark of 6.71%, with median home prices around $374,074. At these rates, the typical monthly mortgage payment (principal and interest with 20% down) is $1,936.
The most affordable city for homebuyers in New York is Hornell, where the median home price is $85,000. On the other end, New York has the highest prices at $680,000. Property tax rates across the state average 1.71%.
To comfortably afford a home at the state average price, a household income of approximately $82,971 is recommended, following the standard guideline that housing costs should not exceed 28% of gross income.
For New York mortgage-rate searches, compare the city table with county loan limits and SONYMA eligibility before choosing a loan type. A borrower in Buffalo, Albany, Rochester, or Syracuse may face a different decision than a buyer in NYC, Long Island, or Westchester even at the same rate.
Use our free loan calculator to see your estimated monthly payments and amortization schedule, or browse individual city pages below for localized rate data and market insights.
Methodology & Mortgage Rate Data Sources
How we calculate New York mortgage rates: Our rate estimates start with weekly mortgage-rate benchmarks and then compare city-level housing assumptions. They are designed for planning and comparison, not as a guarantee of lender pricing.
- Benchmark mortgage rates from Freddie Mac Primary Mortgage Market Survey (PMMS) — the most-cited weekly survey of 30-year and 15-year fixed conforming rates.
- Federal Reserve rate policy tracked via FRED — Federal Reserve Economic Data — the St. Louis Fed's authoritative database of interest rate series.
- Conforming loan limits set annually by the FHFA Conforming Loan Limit announcements (New York 2026: $832,750 baseline, with higher one-unit limits in high-cost counties).
- State lending regulation context from HUD State Information pages covering FHA, down payment assistance, and housing finance agency programs in New York.
- Mortgage market trends tracked via Mortgage Bankers Association (MBA) Weekly Applications Survey — the industry benchmark for mortgage demand and rate sensitivity.
Authoritative mortgage rate data sources:
- Freddie Mac PMMS — weekly 30yr and 15yr fixed rate benchmark
- FRED — Federal Reserve Economic Data — interest rate and housing series
- FHFA — Federal Housing Finance Agency — conforming loan limits and HPI
- HUD — Housing and Urban Development — FHA programs and state assistance
- SONYMA programs — official State of New York Mortgage Agency programs
- CFPB Mortgage Rate Checker — personalized rate comparison tool
- VA Home Loan Program — zero down payment loan for eligible veterans
Rate Disclaimer: Rates shown are estimates based on current market surveys and may not reflect actual lender quotes. Your rate depends on credit score, loan-to-value ratio, down payment, property type, and lender. Always obtain personalized rate quotes from multiple lenders. Rates change daily.
Reviewed by Brazora Monk · Last updated May 2026 · Freddie Mac PMMS data current as of June 4, 2026
Frequently Asked Questions — New York Mortgages
What are current mortgage rates in New York?
As of June 4, 2026, Freddie Mac's national benchmark was 6.48% for the 30-year fixed and 5.79% for the 15-year fixed. Amortio's New York city comparison shows an estimated 30-year benchmark average of 6.71% and 15-year average of 5.96%. Rates vary by city, lender, lock date, fees, and borrower qualification.
What is the average home price in New York?
The median home price across 163 cities in New York is $374,074. Prices range from $85,000 in Hornell to $680,000 in New York.
How much income do I need to buy a house in New York?
Based on the 28% debt-to-income guideline, you would need a household income of approximately $82,971 to comfortably afford the average home in New York. The median household income in the state is approximately $66,426.
Should New York buyers compare SONYMA with normal mortgage quotes?
Yes. SONYMA can be useful for eligible buyers, but compare program rate, APR, lender fees, mortgage insurance, down payment assistance terms, co-op or condo rules, and closing taxes against regular quotes.
New York Mortgage Rates by ZIP Code
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