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New York Current Mortgage Rates

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Rates were collected by Bankrate.com on the dates specified. Rates are subject to change without notice and may vary from branch to branch. APR and Payment examples shown do not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included.

These quotes are from banks, thrifts, and brokers, some of whom have paid for a link to their own Web site, where you can find additional information. Many lenders have different rates on their own Websites than those posted on Bankrate.com. Please identify yourself as a Bankrate consumer to lenders to ensure you get the Bankrate.com rate. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please click here.

Despite our crazy economic downturn, not every homeowner in New York has negative equity right now. And with refinancing interest rates still hovering near record lows, those with equity are likely asking themselves whether it's a good time to refinance.

If you took advantage of low rates last fall or in 2009, you probably won't see much savings by refinancing now. But if you haven't yet refinanced since 2008, you might want to check in and see what kind of savings refinancing might afford you.

Refinancing used to almost always mean the owner was taking some cash out in the process. That's because values had climbed pretty steadily (and steeply in many areas) for several years in a row. But today, the story is much different. Even if you have equity, it may not have climbed enough for cashing out to make sense.

With rates this low, it's a good time to sit down and discuss whether refinancing would improve your loan situation. We all know that rates are fleeting and what's here today may be gone tomorrow.

Market: Albany, Binghamton, Bronxville, Buffalo, Elmira, Glens Falls, Irondequoit, Ithaca, Long Island, New York Metro, Oneonta, Plattsburgh, Poughkeepsie, Rochester, Syracuse, Utica, Watertown, Yonkers

Updated

July 16, 2018

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