New York Mortgage Rates Today Rise by 19 Basis Points – August 13, 2025

Are you in the market to buy a home in New York? According to Zillow, as of August 13, 2025, the average 30-year fixed mortgage rate in New York is 6.62%. This represents an increase of 8 basis points from last week, and is slightly lower than the national average of 6.63%. Let's dive into what's driving these rates and what it means for you as a potential homeowner.

New York Mortgage Rates Today – August 13, 2025: What Homebuyers Need to Know

It's a dynamic market out there! Mortgage rates are constantly influenced by a multitude of factors, from broader economic conditions to Federal Reserve policy. To get the most comprehensive picture, it’s essential to understand not just the headline numbers, but also how they relate to different loan types and the overall financial climate.

A Snapshot of New York Mortgage Rates on August 13, 2025

Here's a quick rundown of the current average mortgage rates in New York, based on the latest figures:

• 30-year fixed: 6.62% (Up 8 basis points from yesterday)
• 15-year fixed: 5.75% (Stable)
• 5-year ARM: 6.75% (Stable)

Breaking Down the Numbers: Conforming, Government, and Jumbo Loans

The type of loan you choose will also impact your interest rate. Here's a deeper look at rates from Zillow for different loan categories :

New York Conforming Loans

PROGRAM	RATE	1W CHANGE	APR	1W CHANGE
30-Year Fixed Rate	6.63%	Up 0.20%	6.77%	Down 0.11%
20-Year Fixed Rate	6.00%	0.00%	6.26%	0.00%
15-Year Fixed Rate	5.75%	Up 0.18%	5.83%	Down 0.05%
10-Year Fixed Rate	5.50%	0.00%	5.69%	0.00%
7-year ARM	—	0.00%	—	0.00%
5-year ARM	6.75%	Up 0.04%	7.78%	Up 0.07%
3-year ARM	—	0.00%	—	0.00%

New York Government Loans

PROGRAM	RATE	1W CHANGE	APR	1W CHANGE
30-Year Fixed Rate FHA	5.88%	0.00%	6.88%	0.00%
30-Year Fixed Rate VA	5.75%	0.00%	5.96%	0.00%
15-Year Fixed Rate FHA	5.49%	0.00%	6.45%	0.00%
15-Year Fixed Rate VA	5.13%	0.00%	5.47%	0.00%

New York Jumbo Loans

PROGRAM	RATE	1W CHANGE	APR	1W CHANGE
30-Year Fixed Rate Jumbo	7.13%	Down 0.06%	7.76%	Up 0.02%
15-Year Fixed Rate Jumbo	6.25%	Up 0.09%	6.69%	Up 0.17%
7-year ARM Jumbo	—	0.00%	—	0.00%
5-year ARM Jumbo	6.38%	0.00%	7.44%	0.00%
3-year ARM Jumbo	—	0.00%	—	0.00%

Note: APR (Annual Percentage Rate) provides a more complete picture of the cost of the loan, including interest and lender fees.

The Federal Reserve's Influence on Mortgage Rates

The Federal Reserve plays a huge role in shaping mortgage rates. Their decisions about monetary policy, especially the federal funds rate, can have a ripple effect throughout the economy, including the housing market.

The Fed spent late 2024, reducing the federal funds rate by 1 percentage point to 4.25%-4.5 so it would not be a shock to the economy in 2025.

2025: A Balancing Act for the Fed

Throughout 2025, the Fed has held steady on interest rates, but internally there are those who disagree, citing concerns about declining growth. The current economic climate is a mix of stubborn inflation (around 2.7%) and slowing GDP growth. With unemployment gradually rising, the Fed faces a tough decision. These fluctuations impact the mortgage rates.

What the Future Might Hold

• Short-Term: If the SEPTEMBER and DECEMBER meeting goes accordingly we can assume that there would be mortgage rates decline
• Long-Term: Long term, this will ease up with rates potentially settling near 2.25-2.5 by 2027
• September 16-17 Meeting: The next critical juncture, with updated economic projections. Market odds of a cut currently stand at 47%.
• December Meeting: Likely the Fed’s last realistic 2025 cut opportunity if September passes without action.

What This Means for You

For current homebuyers: The high rates are there for now but, there may be a light since the Fed is having signals. For those wanting to refinance to a better loan: Check on September and December events.

My Final Thoughts

Feeling the mortgage market's twists and turns? Totally normal – it's been a wild ride lately. Hey, don't let today's ups and downs knock you off course. Just keep your eyes open, lean on a good mortgage pro for advice, and really tune into your own financial picture. That’s how you’ll land the right move for your dream home journey. You've got this.