Current Mortgage Rates for NYC Buyers: 7.28% (30-yr avg)
Freddie Mac national weekly averages as of 2026-10-01. Updated automatically each week.
As of the week of 2026-10-01, the average 30-year fixed mortgage rate is 7.28% and the average 15-year fixed is 6.6% (Freddie Mac Primary Mortgage Market Survey). Individual NYC quotes land above or below that depending on credit score, down payment, loan size, and property type — and on the product itself: see how the different types of mortgages compare.
This week’s average rates
| Loan type | Average rate |
|---|---|
| 30-year fixed | 7.28% |
| 15-year fixed | 6.6% |
What mortgage rate can I get with my credit score?
Lenders price loans off the national market, then adjust for you. Estimated 30-year rates by credit tier (for a conforming loan with 20%+ down):
| Credit score | Typical adjustment | Estimated rate |
|---|---|---|
| 740+ | baseline | 7.28% |
| 720–739 | +0.03% | 7.31% |
| 700–719 | +0.06% | 7.34% |
| 680–699 | +0.10% | 7.38% |
| 660–679 | +0.40% | 7.68% |
| 640–659 | +0.85% | 8.13% |
| 620–639 | +1.40% | 8.68% |
Estimates based on observed spreads in locked conforming loans; actual pricing varies by lender, loan size, and property type.
Are mortgage rates different in NYC?
- Loan size — many NYC purchases exceed conforming loan limits and price as jumbo loans, which follow their own market.
- Condos and co-ops — some lenders add small pricing adjustments for condos, and co-op share loans are a specialty product fewer banks offer.
- Points and lender credits — advertised rates often assume you pay points up front; compare APRs, not just rates. The mortgage points calculator shows the break-even month for paying points.
How to get a lower rate
- Get quotes from at least three lenders on the same day — rates move daily, and spreads between lenders are real money.
- Push your credit score over the next tier boundary before applying (the table above shows what each tier is worth).
- Compare a 15-year term if the payment fits — it prices well below the 30-year.
- Ask each lender to price the same rate with and without points.
Run the numbers with this week’s rate →
Frequently asked questions
What is the average mortgage rate right now?
The Freddie Mac national weekly average is 7.28% for a 30-year fixed and 6.6% for a 15-year fixed, as of 2026-10-01. Individual quotes vary with credit score, down payment, loan size, and lender.
Are mortgage rates higher in New York City?
The base market is national, but NYC loans are often jumbo-sized, and condo or co-op financing can carry small lender adjustments — so quotes can sit slightly above or below the national average depending on the property.
What credit score gets the best mortgage rate?
Pricing is tiered: 740 and above typically gets baseline pricing, and each tier below adds to the rate — roughly +0.1% by 680 and +1% or more below 640 on observed conforming-loan spreads.
How often do the rates on this page update?
Weekly. They are Freddie Mac Primary Mortgage Market Survey national averages, fetched automatically when Freddie Mac publishes.
Figures computed from official NYC Department of Finance and NYC Open Data records, refreshed automatically — see how BlockBook sources its data. Spot an error? Tell us.
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Informational only — not financial, legal, or tax advice. See the disclaimer.