NYC First-Time Homebuyers Face 7% Mortgage Rates — Affordability Crisis Deepens
New York City’s housing market presents formidable challenges for first-time homebuyers. As of September 2026, mortgage rates for a 30-year fixed loan hover around 7.17%, exacerbating an already difficult affordability landscape. This environment, characterized by escalating home values and rental costs, continues to squeeze prospective homeowners.
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