This week's pricing
Pricing is national and set by the file, not by the state line. What varies by state is everything around it — taxes, assistance, loan limits — which is the rest of this page.
These are survey averages, not offers. Source: Freddie Mac Primary Mortgage Market Survey, retrieved from FRED (Federal Reserve Bank of St. Louis), series MORTGAGE30US. Survey week ending July 30, 2026; retrieved by us on August 1, 2026. Not a quote, not a commitment to lend, and not a rate available to any particular borrower.
No APR is stated with these figures because none exists to state. The Primary Mortgage Market Survey reports note rates only; an annual percentage rate depends on the finance charges of a specific transaction, which a national survey does not collect. These are third-party market observations, not rates offered by BankPricer, and no credit is offered on their terms.
Both series, with their 52-week context
| Product | Survey average | Prior week | 52-week low | 52-week high |
|---|---|---|---|---|
| 30-year fixed | 6.66% | 6.58% | 5.98% | 6.66% |
| 15-year fixed | 6.04% | 5.96% | 5.35% | 6.04% |
Survey averages for the week ending July 30, 2026 (Freddie Mac Primary Mortgage Market Survey via FRED, retrieved August 1, 2026). These are weekly national averages from a survey of lenders, not quotes and not offers of credit. The published survey basis is a conventional, conforming, owner-occupied purchase loan with an 80% loan-to-value ratio and a borrower with strong credit; it is an average across lenders and regions, so no individual borrower was offered it. Your own rate depends on your credit profile, loan amount, loan-to-value ratio, occupancy, property type, lock period and program, and your annual percentage rate will be higher than any note rate once costs are included. Rates change without notice. This is not a commitment to lend.
Any payment figure elsewhere on this site reflects principal and interest only and does not include property taxes, homeowners insurance, mortgage insurance, or HOA dues — your actual monthly obligation will be greater.
We archive every retrieval, so the figures shown on any given day can be shown to be the figures that were published on that day.
What actually shapes the New Jersey market
The highest effective property tax rate in the country
New Jersey's effective property tax rate averages 2.23%. On a $480,000 home that is roughly $10,700 a year, or about $892 a month, added on top of principal, interest, and insurance. Lenders count the full amount in the debt-to-income ratio. A borrower who qualifies for a $550,000 home in a low-tax state may qualify for closer to $430,000 in New Jersey on identical income.
Heavy jumbo demand
With a statewide median near $480,000 and much of Bergen, Morris, and Essex counties running well above $600,000, a substantial share of New Jersey purchases need jumbo financing. Jumbo pricing varies more widely between lenders than conforming does — spreads of half a point between investors are ordinary — which makes access to multiple jumbo investors the practical issue.
The NYC commuter corridor
Northern New Jersey pricing is heavily shaped by New York City. Towns along the NJ Transit corridor — Summit, Montclair, Hoboken, Jersey City, Maplewood — carry a premium tied to commuter demand and the employment base across the Hudson. Entry prices are higher and bidding is more competitive as a result. Jersey City's condominium development creates a distinct set of financing questions around project approval.
In New Jersey the loan amounts are larger, so a structural mistake costs more. A quarter-point difference on a $600,000 loan is over $50,000 in interest across a 30-year term.
Loan programs in New Jersey
- Conventional (Fannie/Freddie): 3% to 20% down, up to the conforming limit for the county. The standard structure outside the high-price North Jersey markets.
- FHA: 3.5% down at 580+ credit. Usable in Trenton, Paterson, and Camden County; FHA limits in most New Jersey counties cover the local median.
- VA: Zero down, no monthly mortgage insurance. New Jersey hosts Joint Base McGuire-Dix-Lakehurst. The zero-down benefit carries unusual weight in a high-cost state.
- Jumbo: For loan amounts above the conforming limit for the county. Central to Bergen, Morris, Essex, Hunterdon, and Somerset. Typically 700+ credit, 10% to 20% down, and six to twelve months of reserves.
- DSCR (investor): Qualifies on rental income. Active in Jersey City, Newark, Paterson, and Edison for multi-family. See DSCR loans in Jersey City and Edison.
- HELOC: A second lien against equity that leaves an existing first-mortgage rate in place.
New Jersey markets we publish
Transit hub; multi-family stock.
Commuter and investor market; condominium project review matters.
Central New Jersey anchor; established housing stock.
Dense multi-family investor market.
State capital; lower entry pricing.
How to compare offers in New Jersey
- Compare on the Loan Estimate, not on the rate. Page 2 carries the fees; page 3 carries the five-year cost and the APR. A lower rate with higher fees frequently loses.
- Compare on the same day. Pricing moves intraday, so a quote from Tuesday and a quote from Friday are not a comparison of lenders.
- Compare on the same lock period. A 30-day lock prices better than a 60-day lock; matching that up is a common way people compare two different things.
- Count the property tax line. In New Jersey it moves your debt-to-income ratio, which moves what you qualify for — not just what you pay.
- Check assistance eligibility before you apply. Several programs must be in place at application and cannot be added afterwards.
Questions we get about New Jersey
- Will I need a jumbo loan in New Jersey?
- It depends on the county and the purchase price. Conforming limits are set annually by FHFA and are higher in designated high-cost counties, several of which are near New York City. If your loan amount exceeds the limit for your county you need jumbo financing, which typically requires 700+ credit, 10% to 20% down, and substantial reserves. Because jumbo pricing varies more between lenders than conforming does, access to multiple jumbo investors is the practical advantage.
- Why are New Jersey property taxes the highest in the country?
- New Jersey funds a large share of education, municipal services, and county government through property taxes rather than other revenue sources. The effective rate averages approximately 2.23% — roughly $892 a month on a $480,000 home. It affects your debt-to-income ratio and therefore how much home you qualify for, not just your monthly cost.
- What first-time buyer programs exist in New Jersey?
- The New Jersey Housing and Mortgage Finance Agency runs a First-Time Homebuyer Mortgage Program on 30-year fixed loans, a Down Payment Assistance Program offering up to $15,000 as a forgivable second mortgage in eligible areas, and Homeward Bound, which provides up to $10,000 toward down payment and closing costs. These combine with FHA or conventional first mortgages, and each carries its own eligibility and forgiveness terms.
Already have a Loan Estimate for a New Jersey property?
Send it over. You get where the rate, the points, and the fees sit against the current wholesale panel — including the case where the offer you have is already good and the answer is to take it.
Other states
Figures on this page
Every figure below was migrated from the production New Jersey page. None was generated. Each still needs a citation and a retrieved-on date before this page is published:
- Effective property tax rate (2.23%) and statewide median ($480,000): migrated from the production state page without citations. Verify against the NJ Division of Taxation and current MLS medians.
- NJHMFA assistance amounts change by program year. Verify against njhousing.gov.
- Conforming loan limit omitted: production states $766,550, preview city data states $806,500. Resolve against the FHFA notice before publication.