Today’s Refinance Rates in New York

Updated: January 18, 2024

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Current Refinance Rates in New York

MoneyGeek gathered New York refinancing rates to help you select the loan type that most closely meets your needs. Explore the most current average rates for various mortgage types and terms in New York below.

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Mortgage Refinance Rates From Top Lenders

What Is a Good Refinance Rate in New York?

The average interest rate for a 15-year fixed-rate mortgage (FRM) in the state is 4.43%, which is lower than the 4.92% national average, according to FRED's economic statistics. The state's interest rate on a 30-year FRM is 5.17% — also less than the 5.81% national average. And while the average interest rate for a 5/1 adjustable-rate mortgage (ARM) in New York is presently 4.10%, the national average is still higher at 4.4%.

However, keep in mind that "good" is a relative term based on multiple variables, including loan conditions, loan amount, debt, income, credit score and more. It's crucial to compare quotes from several lenders to make sure you're getting the best rate possible. Additionally, refinance rates in New York fluctuate almost daily. The estimate you receive from one lender one day may be different a week later.

Estimate Your New Monthly Mortgage Payment

Use the MoneyGeek mortgage calculator below to estimate your new monthly mortgage payment. To calculate your approximate monthly payment, enter the details of your mortgage and the current refinance rates in New York. Keep in mind that rates change each day and that your real rate also fluctuates due to your credit rating and debt-to-income ratio.

Mortgage Refinance Calculator in New York
Make sure refinancing your existing home loan will save you money.
Updated։ Jul 12, 2024
Fact Checked

By Mandy Sleight, Licensed Insurance Agent

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Frequently Asked Questions About Refinance Rates in New York

Mortgage refinancing requires significant consideration and research. MoneyGeek has answered the most common inquiries about mortgage refinancing rates in New York below.

What is a good refinance rate in New York?
What is a bad refinance rate in New York?
What is a good refinance interest rate on a 30-year fixed-rate mortgage in New York?
What is a good refinance interest rate on a 15-year fixed-rate mortgage in New York?
What is a good refinance interest rate on a 5/1 adjustable-rate mortgage in New York?
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