Mortgage rates in Boston were mixed this week. Meanwhile, a new study found that town houses are a better buy in Beacon Hill.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston rose to 3.78% from 3.76%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.16 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.76%.
Beacon Hill: Town houses vs. condos
If you're in the market to buy a town house or condo in the Beacon Hill neighborhood of Boston, you'll get a better deal with a town house.
According to real estate research site NeighborhoodX, the average asking price for a Beacon-Hill town house was $1,240 in May, while the average asking price for a condo was $1,423.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, fell to 3.81% from 3.82%. The benchmark 15-year fixed-rate mortgage remained at 2.88%. The benchmark 5/1 adjustable-rate mortgage remained at 3.28%.
Weekly mortgage survey
|Results from Bankrate's May 18 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $465,750 in Boston.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||3.78%||2.88%||3.28%||3.81%|
|Change from last week:||+0.02||N/C||N/C||-0.01|
|Change from last week:||+$1.88||N/C||N/C||-$2.65|