Mortgage rates in Boston mostly rose this week. And home prices moved up in the area.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston fell to 4.22 percent from 4.23 percent, 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 4.23 percent.
Home prices rise in Boston
Boston home prices jumped 7 percent in June from a year prior, according to the latest S&P/Case-Shiller Home Price Index. But prices slowed month-over-month.
From May to June, prices only rose 0.5 percent. That's less than the 1.1 percent rise in home prices the area saw from April to May, notes the report.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, rose to 4.24 percent from 4.23 percent. The benchmark 15-year fixed-rate mortgage remained at 3.41 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.11 percent from 3.05 percent.
Weekly mortgage survey
|Results from Bankrate's Aug. 27 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:||4.22%||3.41%||3.11%||4.24%|
|Change from last week:||-0.01||N/C||+0.06||+0.01|
|Change from last week:||-$0.96||N/C||+$5.39||+$2.73|