A recent Primerates.com survey discovered New York City mortgage rates offered by the largest area banks & credit unions with rates as low as 3.75% on 30-year fixed -rate conforming loans in the metro area for well-qualified borrowers. JP Morgan Chase (www.chase.com) offered this rate, while Wells Fargo (www.wellsfargo.com) and Capital One (www.capitalone.com) were not far behind with rates of 3.88%. While most banks were offering rates right around 4% in the New York area, Hudson City Bank (www.hcbonline.com) still had some of the highest rates in the nation at 4.50%.
Getting the best deal on the sale price of the house is often easier than many people think. All it takes is a little time to do some homework, and then simply start negotiating. The easiest way to begin the negotiation process is to find out how long the house has been on the market, and what the original listing price was. The realtor that you work with will have access to all this information, and more, through the Multiple Listing Service. If there has been no movement in several months, then the seller will be more willing to lower their price. If the house just got on the market, it will be harder to bargain them down. In this situation it is best to look for areas of the house that need to be updated. Finding out of date appliances, rooms that need painted, carpet that needs replaced, or any other minor upkeep problems will transfer the bargaining power back to the buyer. The fact that these things need replaced will cause the seller to wonder if their house really will sell quickly, or if they are going to wait many months, and they may lower the price to make the sale now.
|
Top New York City Area Banks and Credit Unions |
As of |
30-year Fixed |
15-year Fixed |
5/1 ARM |
| JP Morgan Chase |
01/29/12 |
3.75% |
3.00% |
2.25% |
| Wells Fargo |
01/27/12 |
3.88% |
3.00% |
2.13% |
| Capital One |
01/29/12 |
3.88% |
3.25% |
2.75% |
| Sovereign Bank |
01/29/12 |
3.99% |
3.25% |
NA |
| Bank of America |
01/27/12 |
4.00% |
3.38% |
2.75% |
| Citibank |
01/27/12 |
4.13% |
3.38% |
NA |
| HSBC Bank |
01/27/12 |
4.13% |
3.50% |
3.13% |
| PNC Bank |
01/29/12 |
4.13% |
3.38% |
NA |
| Hudson City Bank |
01/29/12 |
4.50% |
3.50% |
3.13% |
Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points. Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history. Contact a specific institution for current rates.
){kind=link}