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Mortgage rates in New York, New York

By Clare Mallen · Bankrate.com
Thursday, April 24, 2014
Posted: 12 pm ET


While mortgage rates increased this week in New York City, The Wall Street Journal reported that an investor recently purchased the Mobil Building on East 42nd Street for more than $900 million.

The 42-story stainless steel structure boasting 1.8 million square feet was constructed in the 1950s as the headquarters for Mobil Oil Co. and occupies the blocks between Lexington and Third avenues.

The benchmark 30-year fixed-rate mortgage in the New York metro area rose to 4.54 percent from 4.48 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.18 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.48 percent.

Located across the street from the Chrysler Building, the tower is home to the New York headquarters of Wells Fargo & Co. And the Mount Sinai Health System will move into about 450,000 square feet in the tower, according to the Journal.

The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, jumped to 4.57 percent from 4.5 percent. The benchmark 15-year fixed-rate mortgage grew to 3.61 percent from 3.56 percent. The benchmark 5/1 adjustable-rate mortgage climbed to 3.35 percent from 3.31 percent.

Weekly mortgage survey

Results from Bankrate's April 23 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: 4.54% 3.61% 3.35% 4.57%
Change from last week: +0.06 +0.05 +0.04 +0.07
Monthly payment: $839.96 $1,188.49 $727.18 $3,195.39
Change from last week: +$5.91 +$4.07 +$3.65 +$26.17
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