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New Bedford

Current Mortgage Rates in New Bedford, Massachusetts

Compare mortgage rates and fees for leading lenders in New Bedford, 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 New Bedford.

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

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Mortgage Rates in New Bedford, MA as of September 22, 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 New Bedford, MA Mortgage Rates Compare?

September 22, 2019

The current average rate for a 30 year fixed rate mortgage in New Bedford 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
New Bedford, MA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in New Bedford, Massachusetts?

The median home value for New Bedford, MA (Bristol County) is $304,818

The median household income for New Bedford, MA (Bristol County) is $64,425

Based on current mortgage rates and a 10% down payment, you need to make $56,553 per year to buy the median priced home in New Bedford

The home price you can afford to buy based on household income in New Bedford is 114% of the median home value which means housing prices are average

New Bedford (Bristol County) ranks 7 out of 14 counties in Massachusetts and 2,910 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in New Bedford, MA is average

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Loan Limits for New Bedford, Massachusetts

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

Conforming loan limits for New Bedford, MA

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for New Bedford, MA

1 unit: $454,250
2 units: $581,500
3 units: $702,900
4 units: $873,550

VA loan limits for New Bedford, MA

1 unit: $484,350

Additional Mortgage Resources for New Bedford, MA Residents

Mortgage Rates for Massachusetts Cities

Amherst Mortgage Rates

Barnstable Town Mortgage Rates

Boston Mortgage Rates

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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