New York Banking Rates

New York 5-Year Adjustable Rate Mortgage Rates – June 9, 2011

If you’re on the market for a new home and want to take advantage of the dropping mortgage rates, you could take on a 5-year ARM mortgage, which gives you a mix of fixed interest for five years of your loan followed by an adjustable rate that fluctuates through the remainder of your term.

This is a good time in the New York metro area to take advantage of lower home prices and interest rates. If this is a good time for you to buy, consider some of the top 5-year ARM loans in New York.

5/1 Adjustable Rate Mortgage Rates in New York, NY

North American Savings Bank offers 5/1 ARM at 2.994% APR with an estimated monthly payment of $1,040.00
M.T.G. Capital offers 5/1 ARM at 3.125% APR with an estimated monthly payment of $1,071.00
Quicken Loans offers 5/1 ARM at 3.250% APR with an estimated monthly payment of $1,088.00
CapWest Mortgage offers 5/1 ARM at 3.250% APR with an estimated monthly payment of $1,101.00
Flagstar Direct offers 5/1 ARM at 3.345% APR with an estimated monthly payment of $1,088.00

Mortgage rates accurate as of publishing date and based on a loan amount of $250,000 and a down payment of 20%. Please see the financial institution about any changes and additional fees.