NEWARK Mortgage Rates & Closing Costs

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    • 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