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Mortgage rates in New York, New York

By Clare Mallen · Bankrate.com
Thursday, January 22, 2015
Posted: 6 am ET


Mortgage rates increased this week in New York City. Meanwhile, the New York Post reported that a new record has been set for the most expensive residence ever sold in the city, at more than $100 million.

The buyer paid $100,471,452.77 for a duplex on the top floors at One57, one of the tallest residential buildings in Manhattan. One57 stands more than 1,000 feet tall and has garnered criticism for casting a giant shadow across Central Park, the Post noted.

According to the Gothamist, the residence is located on the 89th and 90th floors and contains seven bathrooms, two powder rooms and six bedrooms in 11,000 square feet while boasting views of Central Park. The price reflects about $9,000 per square foot, whereas the average price for a unit in the building is $6,000 a square foot.

The previous record sale price was in 2012 when a penthouse at 15 Central Park West sold for $88 million, according to the Post.

The benchmark 30-year fixed-rate mortgage in the New York metro area inched up to 3.94 percent from 3.93 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average of 0.04 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.81 percent.

The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, climbed to 4.12 percent from 4.07 percent. The benchmark 15-year fixed-rate mortgage grew to 3.14 percent from 3.09 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.06 percent from 3.01 percent.

Weekly mortgage survey

Results from Bankrate's Jan. 21 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: 3.94% 3.14% 3.06% 4.12%
Change from last week: +0.01 +0.05 +0.05 +0.05
Monthly payment: $782.04 $1,150.6 $701.0 $3,029.67
Change from last week: +$0.95 +$4 +$4.48 +$18.19
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