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New Jersey

Current New Jersey Mortgage Rates

Compare New Jersey mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in New Jersey.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in New Jersey. Plus, shopping lenders is free and there is no obligation.

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New Jersey Mortgage Rates as of May 22, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's New Jersey Mortgage Rates

May 22, 2024

Current mortgage rates in New Jersey are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
New Jersey Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
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6.250%

How Affordable is Housing in New Jersey?

Below we offer valuable insights on the housing market and real estate prices in New Jersey. Understand how much you need to make to buy a house in New Jersey, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in New Jersey is affordable for you. We provide this helpful information to help you decide if living in New Jersey is right for you.

The median home value for New Jersey is $457,877

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in New Jersey is $95,520

With this income, you could qualify for a $412,089 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in New Jersey is $2,212

The median household income for New Jersey is $91,807

Based on this income, you can afford a home valued at approximately $440,077

The home price you can afford to buy based on household income in New Jersey is 96% of the median home value which means housing prices are expensive. New Jersey ranks 36 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in New Jersey is expensive

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Additional Mortgage Resources for New Jersey Residents

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