New Jersey Mortgage Rates

Here are some points to keep in mind when you are ready to call a lender or broker to get a quote on their current mortgage rates.
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  • Ask each lender and broker for a list of its current mortgage interest rates and whether the mortgage interest rates being quoted are the lowest for that day or week.

  • Ask whether the mortgage interest rate is fixed or adjustable. Keep in mind that when mortgage interest rates for adjustable-rate loans go up, generally so does the monthly payment.

  • If the mortgage interest rate quoted is for an adjustable-rate loan, ask how your mortgage interest rate and loan payment will vary, including whether your loan payment will be reduced when mortgage interest rates go down.

  • Ask about the loan's annual percentage rate (APR). The APR takes into account not only the mortgage interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate.