New York Banking Rates

Best New York ARM Rates – April 11, 2011

New York home loan rates are looking great this month, so this may be the month you move into a new home. Tough economic times and growing foreclosures has forced the Federal Reserve to keep interest rates historically low.

Now is a perfect time to purchase a home in New York if you have the means. Prime borrowers with great credit scores and a large down payment should not have any trouble obtaining the best mortgage rates for the week – browse them below.

A combination of low interest rates and discounted home prices have kept home affordability high this year. See the best New York mortgage rates for the week from the list below on a loan of $300,000, $400,000 and $500,000.

New York Option ARM Rate: $300,000

Quicken 5/1 Year ARM rate at 3.250% with an estimated monthly payment of $1,306
CapWest Mortgage 5/1 Year ARM rate at 3.250% with an estimated monthly payment of $1,306
EverBank 5/1 Year ARM rate at 3.000% with an estimated monthly payment of $1,265

New York Option ARM Rate: $400,000

Quicken 5/1 Year ARM rate at 3.250% with an estimated monthly payment of $1,741
EverBank 5/1 Year ARM rate at 3.000%  with an estimated monthly payment of $1,686
CapWest 5/1 Year ARM rate at 3.250% with an estimated monthly payment of $1,741

New York Option ARM Rate: $500,000

EverBank 5/1 Year ARM rate at 3.125% with an estimated monthly payment of $2,142
Quicken 5/1 Year ARM rate at 3.125% with an estimated monthly payment of $2,142
ING Direct 5/1 Year ARM rate at 4.000% with an estimated monthly payment of $2,387

Mortgage rates accurate as of publishing date and based on  loan amounts of $300,000, $400,000 and $500,000. Please see the financial institution about any changes and additional fees.