NEWARK Mortgage Rates & Closing Costs
30yr Fixed Rate
15yr Fixed Rate
FHA
USDA
VA
5/1 ARM
30 Year Fixed Rate mortgages in Newark averaged
7%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
6.98% and
one month ago for the week of 2024-03-14, the
average rate was 6.74%.
Newark's average rate one year ago was 6.57%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.7%.
Loan Type |
Date |
Rate |
US 30 Year Fixed Rate |
2024-04-18 |
7.1% |
Newark 30 Year Fixed Rate |
2024-04-18 |
7% |
Newark 30 Year Fixed Rate Refi |
2024-04-18 |
7.7% |
Newark 15 Year Fixed Rate |
2024-04-18 |
6.39% |
Newark 15 Year Fixed Rate Refi |
2024-04-18 |
6.39% |
Newark 30 Year FHA |
2024-04-18 |
7.16% |
Newark 30 Year FHA Refi |
2024-04-18 |
6.96% |
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within NEWARK, NJ-PA.
NEWARK Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the NEWARK, NJ-PA market. This
includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
NEWARK, NJ-PA Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that
larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
Name |
2022 Loan Value |
2023 Loan Value |
% Change |
2023 Market Share |
NEWARK Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - NEWARK (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date |
Median Listing Price (YoY Change) |
Average Listing Price (YoY) |
MSA/US Median Price Ratio |
Active Listings |
2018-01-01 |
$499,000 (13.2%) |
$1,184,160 (11.5%) |
1.85 |
48,059 |
2018-02-01 |
$519,000 (14.2%) |
$1,187,602 (7.0%) |
1.88 |
50,498 |
2018-03-01 |
$529,995 (11.6%) |
$1,166,065 (4.1%) |
1.86 |
54,028 |
2018-04-01 |
$549,444 (12.1%) |
$1,162,682 (1.3%) |
1.86 |
57,178 |
2018-05-01 |
$559,000 (11.9%) |
$1,155,902 (1.3%) |
1.87 |
62,355 |
2018-06-01 |
$559,900 (12.0%) |
$1,137,861 (0.1%) |
1.87 |
65,388 |
2018-07-01 |
$552,906 (10.6%) |
$1,118,327 (-0.6%) |
1.85 |
66,067 |
2018-08-01 |
$549,000 (10.2%) |
$1,085,063 (-1.6%) |
1.84 |
65,240 |
2018-09-01 |
$549,900 (10.2%) |
$1,092,650 (-2.4%) |
1.85 |
65,820 |
2018-10-01 |
$549,999 (8.6%) |
$1,103,826 (-3.8%) |
1.86 |
66,122 |
2018-11-01 |
$549,900 (10.0%) |
$1,115,364 (-3.3%) |
1.86 |
63,702 |
2018-12-01 |
$540,000 (8.0%) |
$1,115,460 (-4.2%) |
1.86 |
57,615 |
2019-01-01 |
$535,000 (7.2%) |
$1,114,717 (-5.9%) |
1.85 |
53,016 |
2019-02-01 |
$547,000 (5.4%) |
$1,128,541 (-5.0%) |
1.85 |
55,002 |
2019-03-01 |
$560,143 (5.7%) |
$1,129,863 (-3.1%) |
1.83 |
58,572 |
2019-04-01 |
$575,000 (4.7%) |
$1,125,947 (-3.2%) |
1.83 |
62,598 |
2019-05-01 |
$589,000 (5.4%) |
$1,130,704 (-2.2%) |
1.84 |
68,043 |
2019-06-01 |
$585,000 (4.5%) |
$1,121,806 (-1.4%) |
1.83 |
69,942 |
2019-07-01 |
$575,000 (4.0%) |
$1,107,826 (-0.9%) |
1.80 |
68,901 |
2019-08-01 |
$575,818 (4.9%) |
$1,102,079 (1.6%) |
1.82 |
68,031 |
2019-09-01 |
$577,045 (4.9%) |
$1,114,839 (2.0%) |
1.85 |
67,163 |
2019-10-01 |
$577,864 (5.1%) |
$1,125,085 (1.9%) |
1.86 |
66,023 |
2019-11-01 |
$575,000 (4.6%) |
$1,138,373 (2.1%) |
1.89 |
62,133 |
2019-12-01 |
$574,500 (6.4%) |
$1,164,085 (4.4%) |
1.92 |
54,253 |
2020-01-01 |
$565,000 (5.6%) |
$1,173,101 (5.2%) |
1.89 |
49,998 |
2020-02-01 |
$575,000 (5.1%) |
$1,176,805 (4.3%) |
1.88 |
51,374 |
2020-03-01 |
$589,950 (5.3%) |
$1,181,583 (4.6%) |
1.85 |
52,870 |
2020-04-01 |
$598,900 (4.2%) |
$1,221,296 (8.5%) |
1.88 |
48,980 |
2020-05-01 |
$599,000 (1.7%) |
$1,197,316 (5.9%) |
1.82 |
48,638 |
2020-06-01 |
$599,944 (2.6%) |
$1,191,273 (6.2%) |
1.77 |
51,185 |
2020-07-01 |
$627,000 (9.0%) |
$1,207,357 (9.0%) |
1.82 |
54,352 |
2020-08-01 |
$641,617 (11.4%) |
$1,249,587 (13.4%) |
1.84 |
54,377 |
2020-09-01 |
$649,000 (12.5%) |
$1,263,476 (13.3%) |
1.86 |
54,572 |
2020-10-01 |
$649,999 (12.5%) |
$1,292,377 (14.9%) |
1.86 |
55,661 |
2020-11-01 |
$649,000 (12.9%) |
$1,307,486 (14.9%) |
1.90 |
52,172 |
2020-12-01 |
$649,000 (13.0%) |
$1,328,343 (14.1%) |
1.93 |
46,928 |
2021-01-01 |
$649,000 (14.9%) |
$1,374,981 (17.2%) |
1.94 |
40,456 |
2021-02-01 |
$649,950 (13.0%) |
$1,399,017 (18.9%) |
1.89 |
38,707 |
2021-03-01 |
$649,000 (10.0%) |
$1,383,278 (17.1%) |
1.84 |
38,458 |
2021-04-01 |
$649,946 (8.5%) |
$1,391,889 (14.0%) |
1.76 |
40,115 |
2021-05-01 |
$649,993 (8.5%) |
$1,379,846 (15.2%) |
1.73 |
42,335 |
2021-06-01 |
$645,371 (7.6%) |
$1,340,463 (12.5%) |
1.70 |
44,880 |
2021-07-01 |
$625,000 (-0.3%) |
$1,297,035 (7.4%) |
1.65 |
45,172 |
2021-08-01 |
$617,000 (-3.8%) |
$1,281,311 (2.5%) |
1.65 |
44,667 |
2021-09-01 |
$605,000 (-6.8%) |
$1,284,368 (1.7%) |
1.61 |
43,617 |
2021-10-01 |
$619,000 (-4.8%) |
$1,303,095 (0.8%) |
1.65 |
43,542 |
2021-11-01 |
$621,950 (-4.2%) |
$1,352,359 (3.4%) |
1.66 |
39,093 |
2021-12-01 |
$619,250 (-4.6%) |
$1,384,948 (4.3%) |
1.68 |
32,921 |
2022-01-01 |
$625,000 (-3.7%) |
$1,494,423 (8.7%) |
1.69 |
28,164 |
2022-02-01 |
$637,125 (-2.0%) |
$1,442,220 (3.1%) |
1.66 |
28,498 |
2022-03-01 |
$649,444 (0.1%) |
$1,450,238 (4.8%) |
1.63 |
30,421 |
2022-04-01 |
$660,000 (1.6%) |
$1,447,922 (4.0%) |
1.57 |
32,090 |
2022-05-01 |
$675,000 (3.9%) |
$1,431,626 (3.8%) |
1.54 |
36,015 |
2022-06-01 |
$675,000 (4.6%) |
$1,377,710 (2.8%) |
1.50 |
38,789 |
2022-07-01 |
$659,000 (5.4%) |
$1,336,068 (3.0%) |
1.48 |
41,010 |
2022-08-01 |
$650,000 (5.4%) |
$1,318,875 (2.9%) |
1.50 |
40,176 |
2022-09-01 |
$660,130 (9.1%) |
$1,365,889 (6.4%) |
1.54 |
39,681 |
2022-10-01 |
$674,894 (9.0%) |
$1,454,762 (11.6%) |
1.59 |
40,045 |
2022-11-01 |
$669,500 (7.7%) |
$1,497,072 (10.7%) |
1.61 |
38,648 |
2022-12-01 |
$660,000 (6.6%) |
$1,519,502 (9.7%) |
1.63 |
33,979 |
2023-01-01 |
$662,500 (6.0%) |
$1,547,512 (3.6%) |
1.64 |
30,692 |
2023-02-01 |
$679,950 (6.7%) |
$1,577,557 (9.4%) |
1.64 |
30,173 |
2023-03-01 |
$698,500 (7.6%) |
$1,590,414 (9.7%) |
1.65 |
30,144 |
2023-04-01 |
$699,999 (6.1%) |
$1,611,863 (11.3%) |
1.63 |
31,313 |
2023-05-01 |
$734,500 (8.8%) |
$1,672,672 (16.8%) |
1.67 |
32,425 |
2023-06-01 |
$749,000 (11.0%) |
$1,623,987 (17.9%) |
1.68 |
33,254 |
2023-07-01 |
$737,430 (11.9%) |
$1,591,760 (19.1%) |
1.68 |
33,111 |
2023-08-01 |
$717,000 (10.3%) |
$1,555,281 (17.9%) |
1.65 |
32,798 |
2023-09-01 |
$719,000 (8.9%) |
$1,541,683 (12.9%) |
1.67 |
34,732 |
2023-10-01 |
$729,444 (8.1%) |
$1,608,212 (10.6%) |
1.72 |
33,897 |
2023-11-01 |
$727,931 (8.7%) |
$1,667,818 (11.4%) |
1.73 |
34,211 |
2023-12-01 |
$734,142 (11.2%) |
$1,758,935 (15.8%) |
1.79 |
29,215 |
2024-01-01 |
$741,500 (11.9%) |
$1,742,252 (12.6%) |
1.81 |
26,933 |
2024-02-01 |
$749,500 (10.2%) |
$1,686,410 (6.9%) |
1.80 |
27,182 |
2024-03-01 |
$759,900 (8.8%) |
$1,681,115 (5.7%) |
1.79 |
28,856 |
NEWARK's median listing price for 2024-03-01 was $759,900, a difference of
$61,400
(8.8%) versus the prior year and
$10,400 versus the prior month.
NEWARK's median listing price comes in at 179% of the national average.
NEWARK's average listing price for 2024-03-01 was $1,681,115, a difference of
$90,701
(5.7%) versus the prior year and
$-5,295 versus the prior month.
For the 2024-03-01 period, NEWARK had 28,856 MLS listings, a difference of
1,674 listings
(6%)
versus the prior month and
-1,288 listings
(-4%)
versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - NEWARK (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date |
Median Listing Time on Market |
Median Square Footage |
2018-01-01 |
84 days |
1,842 sqft |
2018-02-01 |
72 days |
1,855 sqft |
2018-03-01 |
52 days |
1,880 sqft |
2018-04-01 |
51 days |
1,893 sqft |
2018-05-01 |
46 days |
1,907 sqft |
2018-06-01 |
50 days |
1,918 sqft |
2018-07-01 |
59 days |
1,920 sqft |
2018-08-01 |
65 days |
1,913 sqft |
2018-09-01 |
66 days |
1,900 sqft |
2018-10-01 |
64 days |
1,887 sqft |
2018-11-01 |
65 days |
1,865 sqft |
2018-12-01 |
78 days |
1,842 sqft |
2019-01-01 |
82 days |
1,823 sqft |
2019-02-01 |
73 days |
1,833 sqft |
2019-03-01 |
59 days |
1,866 sqft |
2019-04-01 |
50 days |
1,906 sqft |
2019-05-01 |
50 days |
1,921 sqft |
2019-06-01 |
55 days |
1,930 sqft |
2019-07-01 |
64 days |
1,922 sqft |
2019-08-01 |
67 days |
1,917 sqft |
2019-09-01 |
69 days |
1,908 sqft |
2019-10-01 |
70 days |
1,901 sqft |
2019-11-01 |
71 days |
1,854 sqft |
2019-12-01 |
85 days |
1,835 sqft |
2020-01-01 |
90 days |
1,821 sqft |
2020-02-01 |
75 days |
1,840 sqft |
2020-03-01 |
54 days |
1,854 sqft |
2020-04-01 |
71 days |
1,860 sqft |
2020-05-01 |
85 days |
1,870 sqft |
2020-06-01 |
86 days |
1,866 sqft |
2020-07-01 |
47 days |
1,806 sqft |
2020-08-01 |
47 days |
1,760 sqft |
2020-09-01 |
51 days |
1,705 sqft |
2020-10-01 |
51 days |
1,692 sqft |
2020-11-01 |
60 days |
1,652 sqft |
2020-12-01 |
74 days |
1,612 sqft |
2021-01-01 |
84 days |
1,574 sqft |
2021-02-01 |
78 days |
1,539 sqft |
2021-03-01 |
55 days |
1,538 sqft |
2021-04-01 |
44 days |
1,550 sqft |
2021-05-01 |
41 days |
1,571 sqft |
2021-06-01 |
44 days |
1,582 sqft |
2021-07-01 |
47 days |
1,592 sqft |
2021-08-01 |
53 days |
1,588 sqft |
2021-09-01 |
57 days |
1,566 sqft |
2021-10-01 |
57 days |
1,539 sqft |
2021-11-01 |
59 days |
1,510 sqft |
2021-12-01 |
70 days |
1,465 sqft |
2022-01-01 |
79 days |
1,436 sqft |
2022-02-01 |
60 days |
1,416 sqft |
2022-03-01 |
40 days |
1,438 sqft |
2022-04-01 |
39 days |
1,452 sqft |
2022-05-01 |
38 days |
1,508 sqft |
2022-06-01 |
39 days |
1,558 sqft |
2022-07-01 |
44 days |
1,568 sqft |
2022-08-01 |
54 days |
1,555 sqft |
2022-09-01 |
59 days |
1,550 sqft |
2022-10-01 |
59 days |
1,538 sqft |
2022-11-01 |
62 days |
1,527 sqft |
2022-12-01 |
75 days |
1,502 sqft |
2023-01-01 |
82 days |
1,489 sqft |
2023-02-01 |
75 days |
1,483 sqft |
2023-03-01 |
55 days |
1,488 sqft |
2023-04-01 |
50 days |
1,496 sqft |
2023-05-01 |
48 days |
1,503 sqft |
2023-06-01 |
51 days |
1,525 sqft |
2023-07-01 |
54 days |
1,552 sqft |
2023-08-01 |
59 days |
1,557 sqft |
2023-09-01 |
60 days |
1,560 sqft |
2023-10-01 |
56 days |
1,564 sqft |
2023-11-01 |
58 days |
1,559 sqft |
2023-12-01 |
71 days |
1,543 sqft |
2024-01-01 |
79 days |
1,509 sqft |
2024-02-01 |
69 days |
1,500 sqft |
2024-03-01 |
50 days |
1,502 sqft |
NEWARK's median listing age (time on market) for 2024-03-01 was 50 days.
This
is -9%
shorter
than the same period one year ago.
NEWARK's median square footage for active listings during the 2024-03-01 period was
1,502 sqft. One year prior, the average listing was
1,488 sqft.
NEWARK, NJ-PA Market Loan Reason
Loan Purpose |
Originations |
Total Value |
Average Loan |
Interest Rate Frequencies
Loan Rate |
Originations |
Total Value |
Average Loan |
Loan Sizing (NEWARK, NJ-PA MSA)
Loan Size |
Originations |
Total Value |
Average Loan |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |