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Mortgage rates in New York, New York

By Clare Mallen · Bankrate.com
Thursday, October 1, 2015
Posted: 6 am ET

Mortgage rates mostly fell in New York City this week. Meanwhile, the biggest buyers in the Manhattan real estate market this year were Canadian investors, Bloomberg reports.

The Canadian Broadcasting Corporation, or the CBC, reports that Canadian investors purchased $3.85 billion of U.S. property, more than any other foreign investor, according to Real Capital Analytics. That number is nearly double the amount purchased in 2014, which was $1.97 billion.

According to Bloomberg, the next 5 countries that are the most active buyers are United Arab Emirates, China, Israel, Norway and Germany.

This week's rates

The benchmark 30-year fixed-rate mortgage in the New York metro area fell to 4.02% from 4.04%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.06 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, inched down to 3.91% from 3.92%. The benchmark 15-year fixed-rate mortgage rose to 3.18% from 3.16%. The benchmark 5/1 adjustable-rate mortgage dipped to 3.05% from 3.07%.

Weekly mortgage survey

Results from Bankrate's Sept. 30 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $625,500 in New York Metro.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4.02% 3.18% 3.05% 3.91%
Change from last week: -0.02 +0.02 -0.02 -0.01
Monthly payment: $789.64 $1,153.80 $700.10 $2,953.87
Change from last week: -$1.90 +$1.60 -$1.78 -$3.58
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