Mortgage rates in Boston rose this week. Meanwhile, Boston was named as the 2nd best city for millennials.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston rose to 3.75% from 3.66%, 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 3.73%.
Boston is the 2nd best city for millennials
According to a new report from apartment search site Adobo, Boston is the 2nd best city for millennials, behind Philadelphia.
It ranks high for qualities like a thriving job market, parks and hiking trails, as well as lots of local restaurants.
Of course, rent isn't exactly affordable in the city, nor are home prices -- some of the most important qualities for millennials. Yet its other qualities push it to the top of the rankings.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, rose to 3.81% from 3.78%. The benchmark 15-year fixed-rate mortgage rose to 2.90% from 2.85%. The benchmark 5/1 adjustable-rate mortgage rose to 3.21% from 3.18%.
Weekly mortgage survey
|Results from Bankrate's June 22 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:||3.75%||2.90%||3.21%||3.81%|
|Change from last week:||+0.09||+0.05||+0.03||+0.03|
|Change from last week:||+$8.45||+$3.96||+$2.71||+$7.97|