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Massachusetts

Current Massachusetts Mortgage Rates

Compare Massachusetts mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Massachusetts.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Massachusetts. Plus, shopping lenders is free and there is no obligation.

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Massachusetts Mortgage Rates as of May 17, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Massachusetts Mortgage Rates

May 17, 2024

Current mortgage rates in Massachusetts are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Massachusetts Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
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6.250%

How Affordable is Housing in Massachusetts?

Below we offer valuable insights on the housing market and real estate prices in Massachusetts. Understand how much you need to make to buy a house in Massachusetts, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Massachusetts is affordable for you. We provide this helpful information to help you decide if living in Massachusetts is right for you.

The median home value for Massachusetts is $564,412

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Massachusetts is $117,745

With this income, you could qualify for a $507,971 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Massachusetts is $2,727

The median household income for Massachusetts is $93,270

Based on this income, you can afford a home valued at approximately $447,088

The home price you can afford to buy based on household income in Massachusetts is 79% of the median home value which means housing prices are very expensive. Massachusetts ranks 43 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Massachusetts is very expensive

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Additional Mortgage Resources for Massachusetts Residents

Mortgage Rates for Massachusetts Cities

Amherst Mortgage Rates

Barnstable Town Mortgage Rates

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Cambridge Mortgage Rates

Essex Mortgage Rates

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Springfield Mortgage Rates

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