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Massachusetts Mortgage Rates
Are you thinking about buying a home in Massachusetts but aren’t sure where to start? One of the best places to begin is with interest rates on home loans. If you buy a home with a mortgage that has a low interest rate, you’ll save tons of money on interest over the life of your loan.
There hasn’t been a time more prime for buying at a low rate. Right now, rates in Massachusetts are extremely low due to the economic hit the nation sustained from the COVID-19 pandemic. As of mid-December, the average 30-year fixed rate mortgage loan in Massachusetts had an interest rate of 2.85%, nearly the same as the national average of 2.86%. Prior to the pandemic, we rarely saw mortgage rates below 3%.
Given the rock-bottom interest rates, there has never been a better time to take advantage of the best mortgage rates in Massachusetts. Both the purchase and refinance rates on loans in this state are at extremely low points — making this a great time to refinance or buy a home in Massachusetts. Here’s what you need to know.
Mortgage Rates in Massachusetts
The mortgage interest rate table below is updated daily to reflect the most current mortgage rates available in the market. According to Bankrate’s latest survey of the nation’s largest mortgage lenders, these are the current average rates for a 30-year fixed, 15-year fixed, FHA and VA mortgage rates.
|Product||Rate||Rate Last Week|
|30-Year Fixed Rate||2.870%||2.880%|
|20-Year Fixed Rate||2.800%||2.780%|
|15-Year Fixed Rate||2.420%||2.400%|
|10-Year Fixed Rate||2.370%||2.310%|
|30-Year FHA Rate||2.670%||2.630%|
|30-Year VA Rate||3.500%||0.000%|
Rates data based on Boston, Massachusetts as of 1/13/2021
Mortgage Rates Trends
In this graph: On , the APR was for the 30-year fixed rate, for the 15-year fixed rate, and for the 5/1 adjustable-rate mortgage rate. These rates are updated almost every day based on Bankrate’s national survey of mortgage lenders.Toggle between the three rates on the graph and compare today’s rates to what they looked like in the past days.