Massachusetts Mortgage Rates as low as 4.625% 30 Years Fixed – Local Markets are Stabilizing.
By: Ed Ferrara
FreeRateUpdate.com research of wholesale mortgage lender’s Massachusetts mortgage rates shows an improvement on Tuesday. The current 30 year fixed par rate in Massachusetts is 4.625%, in line with most other states. Current 15 year fixed Massachusetts mortgage rates are as low as 4.125%. Current 5/1 ARM rates in MA are as low as 3.75%. Though near record lows, across the board Massachusetts mortgage rates are higher than last week.
The Massachusetts real estate market seems to be stabilizing. Foreclosures are down almost 30% from this time last year. The local market has gotten a big boost from FHA which makes up a large percentage of new home loans being originated.
The Boston condo market isn’t moving much. Like many jumbo mortgage markets across the U.S., Massachusetts jumbo mortgage rates are excellent. Massachusetts jumbo mortgage rates are as low as 5.75% 30 years fixed and under 5% for a 5/1 ARM.
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