Mortgage rates in Boston mostly fell this week. Meanwhile, a new report ranked the Hub as one of the most walkable cities in the nation, making it a great place for those who want real estate in a convenient city.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston fell to 4.24 percent from 4.27 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.24 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.3 percent.
No need for a car in Boston
Those looking for real estate in a city where you won't need a vehicle may want to check out Boston. It's the third most walkable city in the nation, according to a new report from Smart Growth America, a research group.
The report ranked metropolitan areas based on the density of everyday destinations like restaurants, shops and office space to come up with a "walkability" score. Boston was only beat out by New York and Washington, D.C.
According to WalkScore.com, the most walkable areas of Boston are North End, Chinatown and Bay Village.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, rose to 4.27 percent from 4.26 percent. The benchmark 15-year fixed-rate mortgage fell to 3.41 percent from 3.43 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.1 percent from 3.13 percent.
Weekly mortgage survey
|Results from Bankrate's July 30 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:||4.24%||3.41%||3.10%||4.27%|
|Change from last week:||-0.03||-0.02||-0.03||+0.01|
|Change from last week:||-$2.89||-$1.61||-$2.69||+$2.73|