New Jersey Mortgage Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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New Jersey mortgage rates range from 5.50% to 8.12%, verified by MonitorBankRates as of October 12, 2026. Current 30-year fixed mortgage rates in New Jersey include Spencer Savings BankSpencer Savings Bank1 Towne Ctr, Cliffside Park, NJ, 07006A+5.0 ★Texas Ratio: 3.96% at 6.25%, Ascendia BankAscendia Bank175 Rock Rd, Glen Rock, NJ, 07052A+5.0 ★Texas Ratio: 1.20% at 6.24%, First Financial Federal Credit UnionFirst Financial Federal Credit Union1360 Route 9, Freehold, NJ, 07728B+4.8 ★Texas Ratio: 17.97% at 6.50%, Lusitania Savings BankLusitania Savings Bank107 Pulaski St, Harrison, NJ, 07029A+5.0 ★Texas Ratio: 0.71% at 6.625%, and First Atlantic Federal Credit UnionFirst Atlantic Federal Credit Union1580 Lakewood Road, EATONTOWN, NJ, 07724 2210A+5.0 ★Texas Ratio: 3.26% at 6.725%. Mortgage rates as of October 12, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare mortgage rates across all loan types in New Jersey side-by-side. New Jersey mortgage rates currently start as low as 6.25% from Spencer Savings Bank at 1 Towne Ctr, Cliffside Park, NJ, 07006. Rates are continually updated, so we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to New Jersey borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: October 12, 2026
Compare Mortgage Rates Today in New Jersey
New Jersey 30 Year Fixed Mortgage Rates
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- Oct 1, 20266.63%▲ from 6.46%
- Sep 24, 20266.46%first recorded
No additional details available.
- Oct 12, 20266.63%▼ from 6.96%
- Sep 25, 20266.96%first recorded
Owner Occupied
- Oct 12, 20266.67%▲ from 6.42%
- Oct 1, 20266.42%▲ from 6.17%
- Sep 20, 20266.17%▲ from 6.04%
- Sep 14, 20266.04%first recorded
As low as
- Oct 12, 20266.73%▼ from 7.99%
- Oct 8, 20267.99%▲ from 7.74%
- Oct 2, 20267.74%▲ from 7.11%
- Sep 25, 20267.11%▲ from 7.10%
No additional details available.
- Oct 1, 20266.78%▲ from 6.62%
- Sep 24, 20266.62%first recorded
No additional details available.
- Sep 24, 20266.79%▲ from 6.41%
- Sep 16, 20266.41%first recorded
No additional details available.
No additional details available.
- Oct 2, 20266.88%▲ from 6.50%
- Sep 29, 20266.50%first recorded
Fixed-rate mortgage; savings example based on $250,000 loan; excellent credit profile
No additional details available.
Loan Amounts: Up To $832,750
- Oct 7, 20266.91%▲ from 6.54%
- Sep 15, 20266.54%first recorded
No additional details available.
- Oct 1, 20266.99%▲ from 6.77%
- Sep 24, 20266.77%first recorded
No additional details available.
- Oct 1, 20267.09%▲ from 6.92%
- Sep 24, 20266.92%first recorded
No additional details available.
- Oct 1, 20267.11%▲ from 6.88%
- Sep 19, 20266.88%▲ from 6.73%
- Sep 14, 20266.73%first recorded
Term: 5/1 ARM / 15 Yr Balloon (30 Yr Amortization); Up to 1.0 points**
Owner Occupied
Loan Amounts: $832,751-$1,000,000
- Oct 7, 20267.16%▲ from 6.79%
- Sep 15, 20266.79%first recorded
No additional details available.
- Oct 1, 20267.19%▲ from 6.94%
- Sep 19, 20266.94%first recorded
Term: 7/1 ARM (30 Yr Amortization); Up to 1.0 points**
No additional details available.
- Oct 1, 20267.27%▲ from 7.01%
- Sep 19, 20267.01%▲ from 6.88%
- Sep 14, 20266.88%first recorded
Loan Amount: Up to $749,999
No additional details available.
Owner Occupied Up to 3MM, Investment Up To 2MM
- Oct 7, 20267.32%▲ from 6.94%
- Sep 15, 20266.94%first recorded
Max Loan: $832,750; Cost/Thousand: $6.85
- Oct 7, 20267.35%▲ from 7.22%
- Oct 1, 20267.22%▲ from 6.97%
- Sep 18, 20266.97%▲ from 6.60%
- Sep 15, 20266.60%first recorded
No additional details available.
Discounted Mortgage Rates! Rates shown are based on 80% loan-to-value (LTV).
- Oct 9, 20267.38%▲ from 6.88%
- Sep 25, 20266.88%▲ from 6.63%
- Sep 18, 20266.63%first recorded
Rates as low as
- Oct 10, 20267.38%▼ from 7.50%
- Oct 2, 20267.50%▲ from 7.38%
- Oct 1, 20267.38%▲ from 7.25%
- Sep 27, 20267.25%▲ from 7.00%
No additional details available.
- Oct 10, 20267.41%▼ from 7.53%
- Oct 2, 20267.53%▲ from 7.41%
- Oct 1, 20267.41%▲ from 7.28%
- Sep 27, 20267.28%▲ from 7.03%
Loan Amounts: $1,000,001-$1,500,000
- Oct 7, 20267.41%▲ from 7.04%
- Sep 15, 20267.04%first recorded
No additional details available.
- Oct 10, 20267.53%▼ from 7.66%
- Oct 2, 20267.66%▲ from 7.53%
- Sep 27, 20267.53%▲ from 7.16%
- Sep 18, 20267.16%first recorded
No additional details available.
- Oct 7, 20267.54%▲ from 6.91%
- Sep 15, 20266.91%first recorded
No additional details available.
- Oct 9, 20267.57%▲ from 7.32%
- Oct 2, 20267.32%▲ from 7.07%
- Sep 25, 20267.07%▲ from 6.82%
- Sep 17, 20266.82%▲ from 6.56%
Rates assume a NY property
- Oct 1, 20267.60%▲ from 7.47%
- Sep 27, 20267.47%▲ from 7.22%
- Sep 24, 20267.22%▲ from 7.10%
- Sep 18, 20267.10%▲ from 6.97%
No additional details available.
- Oct 5, 20267.61%▲ from 7.02%
- Sep 17, 20267.02%first recorded
Loan Amounts: $1,500,001-$2,000,000
- Oct 7, 20267.66%▲ from 7.29%
- Sep 15, 20267.29%first recorded
Conventional Fannie Mae Mortgage; Origination Fee or Lender Credit: -0.393%
- Oct 12, 20267.67%▼ from 7.80%
- Oct 4, 20267.80%▲ from 7.54%
- Oct 2, 20267.54%▲ from 7.41%
- Sep 25, 20267.41%▲ from 7.16%
No additional details available.
- Oct 8, 20267.72%▲ from 7.59%
- Oct 1, 20267.59%▲ from 7.47%
- Sep 28, 20267.47%▲ from 7.21%
- Sep 16, 20267.21%first recorded
No additional details available.
- Oct 8, 20267.72%▲ from 7.59%
- Oct 1, 20267.59%▲ from 7.47%
- Sep 24, 20267.47%first recorded
Rates shown include 0.125% autopay and paperless discount.
No additional details available.
- Oct 7, 20267.88%▲ from 7.20%
- Sep 18, 20267.20%first recorded
No additional details available.
No additional details available.
- Oct 8, 20267.95%▲ from 7.70%
- Oct 4, 20267.70%▼ from 7.82%
- Oct 2, 20267.82%▲ from 7.45%
- Sep 25, 20267.45%▲ from 7.32%
No additional details available.
- Oct 7, 20267.96%▲ from 7.91%
- Oct 1, 20267.91%▲ from 7.77%
- Sep 27, 20267.77%▲ from 7.74%
- Sep 24, 20267.74%▲ from 7.60%
No additional details available.
No additional details available.
- Oct 7, 20267.97%▲ from 7.91%
- Oct 1, 20267.91%▲ from 7.77%
- Sep 27, 20267.77%▲ from 7.74%
- Sep 24, 20267.74%▲ from 7.60%
No additional details available.
Conventional Fannie Mae Mortgage; Origination Fee or Lender Credit: -0.391%
- Oct 12, 20268.17%▲ from 8.05%
- Oct 8, 20268.05%▼ from 8.31%
- Oct 4, 20268.31%▲ from 8.30%
- Oct 2, 20268.30%▲ from 7.67%
No additional details available.
- Oct 1, 20268.56%▲ from 8.43%
- Sep 27, 20268.43%▲ from 8.06%
- Sep 24, 20268.06%▲ from 7.68%
- Sep 18, 20267.68%▲ from 7.56%
New Jersey 15 Year Fixed Mortgage Rates
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No additional details available.
- Sep 24, 20266.06%▲ from 5.68%
- Sep 16, 20265.68%first recorded
Loan Amounts: Up To $832,750
- Oct 7, 20266.18%▲ from 5.80%
- Sep 15, 20265.80%first recorded
No additional details available.
- Oct 1, 20266.31%▲ from 6.05%
- Sep 24, 20266.05%first recorded
No additional details available.
No additional details available.
- Oct 1, 20266.40%▲ from 6.15%
- Sep 24, 20266.15%first recorded
Loan Amounts: $832,751-$1,000,000
- Oct 7, 20266.43%▲ from 6.05%
- Sep 15, 20266.05%first recorded
No additional details available.
- Oct 1, 20266.49%▲ from 6.24%
- Sep 24, 20266.24%first recorded
As low as
- Oct 12, 20266.49%▼ from 7.50%
- Oct 8, 20267.50%▲ from 7.38%
- Oct 2, 20267.38%▲ from 7.12%
- Sep 25, 20267.12%▲ from 6.99%
No additional details available.
- Oct 2, 20266.50%▲ from 6.13%
- Sep 29, 20266.13%first recorded
No additional details available.
- Oct 1, 20266.58%▲ from 6.33%
- Sep 24, 20266.33%first recorded
Max Loan: $832,750; Cost/Thousand: $8.77
- Oct 1, 20266.67%▲ from 6.41%
- Sep 18, 20266.41%▲ from 6.15%
- Sep 15, 20266.15%first recorded
Loan Amounts: $1,000,001-$1,500,000
- Oct 7, 20266.68%▲ from 6.30%
- Sep 15, 20266.30%first recorded
No additional details available.
- Oct 1, 20266.72%▲ from 6.46%
- Sep 19, 20266.46%▲ from 6.33%
- Sep 14, 20266.33%first recorded
Loan Amount: Up to $749,999
No additional details available.
- Oct 1, 20266.75%▲ from 6.49%
- Sep 19, 20266.49%▲ from 6.37%
- Sep 14, 20266.37%first recorded
Owner Occupied
- Oct 7, 20266.75%▼ from 7.13%
- Sep 15, 20267.13%first recorded
No additional details available.
- Oct 12, 20266.76%▲ from 6.63%
- Sep 25, 20266.63%first recorded
No additional details available.
- Oct 10, 20266.80%▼ from 6.93%
- Oct 2, 20266.93%▲ from 6.80%
- Oct 1, 20266.80%▼ from 6.93%
- Sep 27, 20266.93%▲ from 6.55%
No additional details available.
Conventional Fannie Mae Mortgage; Origination Fee or Lender Credit: 0.000%
- Sep 25, 20266.81%▲ from 6.44%
- Sep 16, 20266.44%first recorded
Origination Fee or Lender Credit: 0.000%
- Oct 12, 20266.83%▲ from 6.70%
- Oct 8, 20266.70%first recorded
No additional details available.
- Oct 7, 20266.88%▲ from 6.42%
- Sep 15, 20266.42%first recorded
Loan Amounts: $1,500,001-$2,000,000
- Oct 7, 20266.93%▲ from 6.55%
- Sep 15, 20266.55%first recorded
No additional details available.
- Oct 9, 20266.94%▲ from 6.81%
- Oct 2, 20266.81%▲ from 6.56%
- Sep 25, 20266.56%▲ from 6.31%
- Sep 17, 20266.31%▲ from 6.05%
No additional details available.
No additional details available.
- Oct 5, 20266.94%▲ from 6.04%
- Sep 17, 20266.04%first recorded
Rates shown include 0.125% autopay and paperless discount.
- Oct 7, 20266.99%▲ from 6.49%
- Sep 15, 20266.49%first recorded
No additional details available.
Term: 5/1 ARM / 15 Yr Balloon (30 Yr Amortization); Up to 1.0 points**
No additional details available.
No additional details available.
- Oct 8, 20267.14%▲ from 7.01%
- Oct 3, 20267.01%▲ from 6.89%
- Sep 24, 20266.89%▲ from 6.63%
- Sep 16, 20266.63%first recorded
Owner Occupied Up to 3MM, Investment Up To 2MM
No additional details available.
No additional details available.
- Oct 7, 20267.26%▲ from 6.87%
- Sep 18, 20266.87%first recorded
No additional details available.
- Oct 8, 20267.27%▲ from 7.14%
- Oct 1, 20267.14%▲ from 7.01%
- Sep 24, 20267.01%first recorded
No additional details available.
- Oct 7, 20267.28%▲ from 7.15%
- Oct 1, 20267.15%▼ from 7.28%
- Sep 27, 20267.28%▲ from 6.90%
- Sep 18, 20266.90%▲ from 6.65%
No additional details available.
- Oct 8, 20267.37%▲ from 7.11%
- Oct 4, 20267.11%▼ from 7.24%
- Oct 2, 20267.24%▲ from 6.99%
- Sep 25, 20266.99%▲ from 6.86%
No additional details available.
- Oct 7, 20267.50%▲ from 7.39%
- Oct 1, 20267.39%▲ from 7.11%
- Sep 24, 20267.11%▲ from 7.01%
- Sep 18, 20267.01%▲ from 6.52%
Conventional Fannie Mae Mortgage; Origination Fee or Lender Credit: 0.310%
- Oct 12, 20267.75%▲ from 7.72%
- Oct 8, 20267.72%▲ from 7.68%
- Oct 4, 20267.68%▼ from 7.69%
- Oct 2, 20267.69%▼ from 7.72%
No additional details available.
- Sep 27, 20268.09%▲ from 7.97%
- Sep 18, 20267.97%▲ from 7.60%
- Sep 15, 20267.60%first recorded
New Jersey 5/1 ARM Mortgage Rates
Term: 5/1 year ARM (30 year payout)
No additional details available.
No additional details available.
Up to $970,800
No additional details available.
No additional details available.
Up to $970,800
No additional details available.
Introductory APR determined at time of loan approval based on FICO score. Introductory rate expires after 60 months. After introductory period, APR is determined by adding a margin of 2.75% to the weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of one year, but with a floor of the introductory rate. Floor for a recent Rate as of November 17, 2025, was 6.250%, for applicants with FICO scores of at least 700. APR is subject to change after consummation and may change annually after the first five years. Add .500% to Rate to arrive at a Floor of 6.750% for investment properties, for applicants with FICO scores of at least 700.
No additional details available.
- Oct 1, 20266.45%▲ from 6.35%
- Sep 24, 20266.35%▲ from 6.20%
- Sep 19, 20266.20%first recorded
No additional details available.
- Oct 2, 20266.45%▲ from 6.23%
- Sep 29, 20266.23%first recorded
No additional details available.
Fully Indexed Rate: 6.750%
Owner Occupied
- Oct 12, 20266.55%▲ from 6.45%
- Oct 8, 20266.45%▲ from 6.37%
- Oct 1, 20266.37%▲ from 6.18%
- Sep 24, 20266.18%▲ from 6.03%
Monthly Payment per $1000: $5.76 (first 60 monthly payments); Monthly Principal & Interest Payments Based on a $100,000 Loan: 60 payments of $575.66 then 300 payments at $661.97 at a rate of 7.125% based on current index and margin
Introductory rate
Max Loan: $832,750; Cost/Thousand: $6.02; Adjustable Rate Mortgage (ARM) interest rates and payments are subject to increase after the initial fixed-rate period (60 months fixed; after the fixed period, the interest rate will adjust once every six months).
- Oct 1, 20266.64%▲ from 6.51%
- Sep 18, 20266.51%▲ from 6.44%
- Sep 15, 20266.44%first recorded
Primary Residence/Second Home - held in a personal name; Rate fixed for 5 years; Fully indexed rate: 6.500% for 25 years; Maximum LTV 75%; Maximum rate increase 5% over the life of the loan
Loan Amounts: Up To $832,750
- Oct 1, 20266.71%▲ from 6.63%
- Sep 27, 20266.63%▲ from 6.56%
- Sep 19, 20266.56%first recorded
No additional details available.
- Oct 8, 20266.71%▲ from 6.14%
- Sep 16, 20266.14%first recorded
No additional details available.
No additional details available.
Up to $970,800
No additional details available.
- Oct 7, 20266.76%▲ from 6.75%
- Oct 1, 20266.75%first recorded
299 payments at 7.250%; 1 payment at 7.250%
Loan Amounts: Up To $832,750
- Oct 1, 20266.81%▲ from 6.73%
- Sep 27, 20266.73%▲ from 6.66%
- Sep 19, 20266.66%first recorded
No additional details available.
No additional details available.
Up to $970,800
No additional details available.
Loan Amounts: Up To $832,750
- Oct 7, 20266.88%▲ from 6.81%
- Sep 27, 20266.81%▲ from 6.66%
- Sep 19, 20266.66%first recorded
Loan Amounts: Between $832,751 - $1,000,000
- Oct 1, 20266.90%▲ from 6.83%
- Sep 27, 20266.83%▲ from 6.76%
- Sep 19, 20266.76%first recorded
Rates Effective October 5, 2026.
- Oct 9, 20266.91%▲ from 6.66%
- Sep 29, 20266.66%first recorded
Loan Amounts: Between $832,751-$1,000,000
- Oct 7, 20266.98%▲ from 6.90%
- Sep 27, 20266.90%▲ from 6.76%
- Sep 19, 20266.76%first recorded
Pay just Plus enjoy local decision-making and free mortgage counseling.
Loan Amount: Up to $749,999
Loan Amounts: Between $1,000,001-$1,500,000
- Oct 1, 20267.00%▲ from 6.93%
- Sep 27, 20266.93%▲ from 6.86%
- Sep 19, 20266.86%first recorded
See payment example
- Oct 7, 20267.00%▲ from 6.98%
- Oct 1, 20266.98%▲ from 6.89%
- Sep 27, 20266.89%▲ from 6.84%
- Sep 24, 20266.84%▲ from 6.69%
Price per Thousand: $6.65
Loan Amounts: Between $1,000,001-$1,500,000
- Oct 7, 20267.08%▲ from 7.00%
- Sep 27, 20267.00%▲ from 6.86%
- Sep 19, 20266.86%first recorded
Loan Amounts: Between $1,500,001 - $2,000,000
- Oct 1, 20267.10%▲ from 7.03%
- Sep 27, 20267.03%▲ from 6.96%
- Sep 19, 20266.96%first recorded
Term: 5/1 ARM / 15 Yr Balloon (30 Yr Amortization); Up to 1.0 points**
Interest Rate 6.500%; APR 7.159%
Adjustable rate mortgage
Loan Amounts: Between $1,500,001 -$2,000,000
- Oct 7, 20267.18%▲ from 7.10%
- Sep 27, 20267.10%▲ from 6.96%
- Sep 19, 20266.96%first recorded
No additional details available.
Owner Occupied Up to 3MM, Investment Up To 2MM
New Jersey 30-Year Jumbo Mortgage Rates
No additional details available.
- Oct 9, 20266.38%▲ from 6.13%
- Sep 14, 20266.13%first recorded
Introductory rate
No additional details available.
Origination Fee or Lender Credit: 0.000%; Conventional Fannie Mae
- Oct 12, 20266.71%▲ from 6.65%
- Oct 2, 20266.65%▲ from 6.56%
- Sep 25, 20266.56%▲ from 6.42%
- Sep 16, 20266.42%first recorded
Origination Fee or Lender Credit: 0.000%
Rates and terms described are for owner-occupied properties only. Low down payment programs are also available. Rates are subject to change without notice. Variable and Adjustable rates may increase during the term of the loan. When the initial fixed interest rate expires, the interest rate will change to an adjustable interest rate on the change date. The adjustable interest rate may change on the change date and every 6 month thereafter. The rate will be calculated based on an index, which is the 30-day average SOFR index rate, as made available by the Federal Reserve Board of New York. The most recent index figure available as of the date 45 days before each change date will be used. This will be called the current index. Before each change date, the new interest rate will be calculated by adding the margin, which is 3.000%, to the current index, resulting in the fully indexed rate. The fully indexed rate is rounded to the nearest one-eighth of one percentage point. The fully indexed rate is 6.750%. All mortgages with less than 20% down payment may require PMI (Private Mortgage Insurance). The rate and point structure will be the same as mortgages with a 20% down payment. Interest rates are subject to credit and property approval based upon secondary market guidelines. Interest rates and APRs may vary depending on loan details, such as points, loan amount, your credit and property occupancy. The rates shown are available to borrowers with a satisfactory credit history. Your rate may vary based upon your credit history and other loan details. All information provided assumes an owner-occupied purchase mortgage loan in the amount of $100,000 with 25% down and credit score >/= 780. Payments do not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater. Restricted to properties located in the following communities in Connecticut and New Jersey: Capital, Naugatuck Valley, and South Central regions; Bergen, Morris, and Passaic counties. Restricted to low-to-moderate census tracts in the following Connecticut cities: Ansonia, Bristol, East Hartford, Hartford, Manchester, Meriden, New Britain, New Haven, and Waterbury. New Jersey boroughs and cities: Bergenfield, Cliffside Park, Clifton, Dover, Elmwood Park, Englewood, Fairview, Garfield, Hackensack, Lodi, Morristown, Mount Olive, Passaic, Paterson, Prospect Park, Wharton, and Woodland Park. Rate reflects subject property in low-to-moderate census tract in Ion Bank's assessment areas. Rate reflects household income at or below 80% AMI (Area Median Income). The United States Department of Housing and Urban Development (HUD) calculates AMI for each geographic in the country by using data from the US Census-based American Community Survey. A household's income is calculated by its gross income, which is the total income received before taxes and other payroll deductions.
Payment Example: 3/5 Jumbo ARM Payment Example
- Oct 6, 20266.87%▲ from 6.77%
- Sep 30, 20266.77%first recorded
Introductory rate
Jumbo
- Oct 12, 20268.01%▲ from 7.76%
- Sep 25, 20267.76%first recorded
No additional details available.
- Oct 8, 20268.12%▲ from 7.87%
- Sep 28, 20267.87%▲ from 7.61%
- Sep 16, 20267.61%first recorded
No additional details available.
- Oct 8, 20268.19%▲ from 7.91%
- Sep 28, 20267.91%▲ from 7.81%
- Sep 16, 20267.81%first recorded
New Jersey 15-Year Jumbo Mortgage Rates
No additional details available.
- Oct 9, 20265.88%▲ from 5.63%
- Sep 14, 20265.63%first recorded
Conventional Fannie Mae Mortgage; Origination Fee or Lender Credit: 0.000%
- Sep 25, 20266.77%▲ from 6.39%
- Sep 16, 20266.39%first recorded
Origination Fee or Lender Credit: 0.000%
- Oct 12, 20266.77%▲ from 6.65%
- Oct 8, 20266.65%first recorded
Jumbo
- Oct 12, 20267.25%▲ from 7.00%
- Sep 25, 20267.00%first recorded
No additional details available.
- Oct 8, 20267.80%▲ from 7.54%
- Sep 28, 20267.54%▲ from 7.29%
- Sep 16, 20267.29%first recorded
No additional details available.
New Jersey 5/1 Jumbo ARM Mortgage Rates
Payment Example: 5/5 Jumbo ARM Payment Example
- Oct 6, 20266.83%▲ from 6.75%
- Sep 30, 20266.75%first recorded
Introductory rate
New Jersey FHA Loan Rates
As of October 1, 2026; Subject to credit approval. Rates, terms, and information are subject to change at any time. Rates offered are dependent on credit score at application. Rates are locked for 60 days. Loans with less than 20% down payment will require private mortgage insurance. NMLS 595144
- Oct 2, 20267.39%▲ from 6.88%
- Sep 21, 20266.88%first recorded
FHA
- Oct 12, 20267.66%▲ from 7.50%
- Sep 25, 20267.50%first recorded
FHA
- Oct 12, 20267.81%▲ from 7.76%
- Oct 2, 20267.76%▲ from 7.63%
- Sep 25, 20267.63%first recorded
No additional details available.
- Sep 27, 20268.09%▲ from 7.97%
- Sep 18, 20267.97%▲ from 7.60%
- Sep 15, 20267.60%first recorded
No additional details available.
No additional details available.
- Oct 1, 20268.56%▲ from 8.43%
- Sep 27, 20268.43%▲ from 8.06%
- Sep 24, 20268.06%▲ from 7.68%
- Sep 18, 20267.68%▲ from 7.56%
New Jersey VA Loan Rates
No additional details available.
- Oct 12, 20267.89%▲ from 7.86%
- Oct 2, 20267.86%▲ from 7.73%
- Sep 25, 20267.73%first recorded
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
New Jersey Mortgage Rate Trends
Compare local New Jersey mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
New Jersey 30-year fixed rates fell 0.033 points over the past 7 days to 7.315%.
New Jersey 15-year fixed rates fell 0.008 points over the past 7 days to 6.861%.
New Jersey Mortgage Rate Forecast, Next 12 Months
Where are New Jersey mortgage rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for New Jersey Home Buyers
Monthly principal & interest payment on New Jersey median home of $454,400 (20% down, 30-year fixed, state-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (NJ avg) | 7.315% | $2,496 | 28.9% | |
| 6-Month Forecast | 7.315% (6.97, 7.62%) | $2,496 | +$0/mo | 28.9% |
| 12-Month Forecast | 7.565% (7.22, 7.87%) | $2,558 | +$62/mo | 29.6% |
Income column = annual mortgage payment as % of New Jersey median household income ($103,556). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for New Jersey , updated every night from live mortgage rates across our monitoring network combined with U.S. Census Bureau income, home value, and cost burden data.
What This Score Means for New Jersey Home Buyers
With a score of 83.4, New Jersey is 13.7 points less affordable than the national average of 97.1. New Jersey ranks #42 out of 51 states for affordability, among the more expensive states relative to income.
The index reflects the current New Jersey 30-year mortgage rate of 7.287% combined with Census median home values, household income, property taxes, and cost burden data. A 0.25% rate change shifts the score by approximately 0.8-1.0 points, meaning today’s rate environment directly impacts how affordable homeownership is relative to local incomes across New Jersey.
Scores update each morning, computed from rate data captured the previous night. Computed from live mortgage rates across FDIC-insured banks and NCUA-chartered credit unions, combined with U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025. Score of 100 = national average at 6.5% reference rate. Full methodology
How Mortgage Rates Impact Home Affordability in New Jersey
New Jersey Housing Market Overview
According to the U.S. Census Bureau, the median owner-occupied home value in New Jersey is approximately $454,400. The 2026 FHFA conforming loan limit for New Jersey is $832,750.
New Jersey Homeownership Rate
The homeownership rate in New Jersey stands at 65.3%, near the national average of 65.7%. The homeowner vacancy rate of 1.1% signals a tight market with limited available inventory, making it critical to secure the best possible rate quickly when a suitable property becomes available.
Monthly Payment Estimates for New Jersey Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $360,000 mortgage, based on a 20% down payment on the New Jersey median home value.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.815% | 30-year fixed | $2,351 | $486,190 |
| 7.315% Current Avg | 30-year fixed | $2,472 | $529,821 |
| 7.815% | 30-year fixed | $2,595 | $574,298 |
| 6.861% | 15-year fixed | $3,208 | $217,417 |
A 0.500% rate increase on a $360,000 loan adds roughly $124 per month and over $44,477 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders, using the rate table above, is one of the most impactful financial decisions a New Jersey buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only; taxes, insurance, and PMI not included.
New Jersey Income & Housing Affordability
At a price-to-income ratio of 4.4x, New Jersey is a relatively affordable housing market compared to national averages. That ratio, median home value divided by median household income, is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for New Jersey Buyers
With a median household income of $103,556 per year in New Jersey ($8,630/month) and a median home value of approximately $454,400, a buyer financing at 80% LTV at the current average rate would commit roughly 28.6% of gross monthly income to principal and interest alone. that falls within a manageable range relative to income, though taxes, insurance, HOA fees, and PMI will add to the true monthly cost of ownership.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in New Jersey
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home across New Jersey. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
Across New Jersey, the median homeowner with a mortgage pays approximately $2,173/month in total housing costs, covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $1,720/month including utilities. The $453/month difference between owning and renting is relatively narrow, worth factoring carefully into a rent vs. buy analysis given that owners also build equity over time. Property taxes alone account for $812/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
Across New Jersey, 32.2% of homeowners with mortgages are cost burdened and 49.7% of renters are cost burdened. Renters face significantly higher burden rates than owners, a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 32.2% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
New Jersey Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s New Jersey rates. The home price is prefilled with the local median home value. Adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your New Jersey Home Loan
Rates are only part of the equation. Use these calculators to translate current New Jersey mortgage rates and home loan rates into real numbers for your specific situation before you request quotes from mortgage lenders.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current New Jersey rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your intended time horizon in New Jersey.
CalculateTypes of Mortgages Available in New Jersey
Borrowers in New Jersey have access to a wide range of mortgage programs. Rates, down payment requirements, and eligibility rules vary significantly across products. Understanding the differences before you compare lenders can save thousands of dollars over the life of your loan.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s New Jersey rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15% to 0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment, given ongoing home price trends in New Jersey, FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% of the loan for first-time VA borrowers with no down payment, which can be financed into the loan. In New Jersey, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
Conforming loan limits in New Jersey vary by county. The 2026 FHFA baseline is $832,750 for most counties, with higher limits in designated high-cost areas. Any mortgage exceeding the applicable county limit is a jumbo loan and falls outside Fannie Mae and Freddie Mac guidelines.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10 to 20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our New Jersey mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for New Jersey directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in New Jersey. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in NJ.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
How a Mortgage Works in New Jersey
A mortgage is a loan used to buy a home in New Jersey, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed-Rate vs. Adjustable-Rate Mortgages for New Jersey Buyers
A fixed-rate mortgage keeps the same interest rate for the entire term, so a New Jersey homeowner’s principal-and-interest payment never changes. For example, Spencer Savings Bank is listing a 30 Year Fixed First Lien at 6.25%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit New Jersey borrowers who expect to move or refinance before that point. On the adjustable-rate side, Ukrainian National Federal Credit Union is listing a 5/1 year ARM (30 year payout) at 5.875%.
How New Jersey Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a New Jersey borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs in New Jersey
The interest rate is not the only cost of buying a home in New Jersey. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps New Jersey shoppers account for these costs when weighing lenders.
When New Jersey Homeowners Should Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For New Jersey homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up. Current New Jersey refinance rates from local lenders are listed on our refinance page.
Frequently Asked Questions about Mortgage Rates in New Jersey
What are home loan rates in New Jersey (NJ) today?
How does my credit score affect my rate in New Jersey?
What is a 30-Year Fixed Mortgage?
What are closing costs in New Jersey?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in New Jersey?
Do I need 20% down to buy a house in New Jersey?
What is the difference between Interest Rate and APR?
How do I compare mortgage lenders in New Jersey?
How do I get mortgage quotes in New Jersey?
What is the median home value in New Jersey?
What is the homeownership rate in New Jersey?
What is the conforming loan limit in New Jersey?
What is the median monthly cost of homeownership in New Jersey?
What are the median property taxes in New Jersey?
What is the median rent in New Jersey?
What percentage of homeowners are cost burdened in New Jersey?
What percentage of renters are cost burdened in New Jersey?
What are the best Mortgage rates in New Jersey?
- Spencer Savings Bank: 6.25% (30 Year Fixed First Lien)
- Ascendia Bank: 6.24% (Residential Mortgage Loan - 30 Year Fixed)
- First Financial Federal Credit Union: 6.50% (Current Mortgage - 30 Year Fixed Conforming)
- Lusitania Savings Bank: 6.625% (Community First Loan 30 Year Fixed Owner Occupied)
- First Atlantic Federal Credit Union: 6.725% (30-Year Fixed)
New Jersey Rates & Resources
Mortgage Rates & Home Loan Rates by City in New Jersey (NJ)
