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Boston

Current Mortgage Rates in Boston, Massachusetts

Compare mortgage rates and fees for leading lenders in Boston, MA. 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 lender offering the best mortgage rates in Boston.

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

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Mortgage Rates in Boston, MA as of October 23, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Boston, MA Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Boston is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Boston, MA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Boston, Massachusetts?

The median home value for Boston, MA (Suffolk County) is $540,736

The median household income for Boston, MA (Suffolk County) is $63,114

Based on current mortgage rates and a 10% down payment, you need to make $100,324 per year to buy the median priced home in Boston

The home price you can afford to buy based on household income in Boston is 63% of the median home value which means housing prices are very expensive

Boston (Suffolk County) ranks 12 out of 14 counties in Massachusetts and 3,117 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Boston, MA is very expensive

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Loan Limits for Boston, Massachusetts

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Boston (Suffolk County) below.

Conforming loan limits for Boston, MA

1 unit: $688,850
2 units: $881,850
3 units: $1,065,950
4 units: $1,324,750

FHA loan limits for Boston, MA

1 unit: $688,850
2 units: $881,850
3 units: $1,065,950
4 units: $1,324,750

VA loan limits for Boston, MA

1 unit: $688,850

Additional Mortgage Resources for Boston, MA Residents

Mortgage Rates for Massachusetts Cities

Amherst Mortgage Rates

Barnstable Town Mortgage Rates

Boston Mortgage Rates

Cambridge Mortgage Rates

Essex Mortgage Rates

New Bedford Mortgage Rates

Norfolk Mortgage Rates

Pittsfield Mortgage Rates

Plymouth Mortgage Rates

Springfield Mortgage Rates

Worcester Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index