Mortgage rates in Boston fell this week. Meanwhile, home sales and home prices in the area are staying strong.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston fell to 3.8% from 3.86%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.21 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.88%.
The December 2015 real estate market in Boston
According to a new report from The Warren Group, home sales are up throughout Massachusetts, and especially in the Boston area.
Home sales in Suffolk County, which is largely made up of Boston, saw a 7% bump in home sales year-over-year in December 2015.
And to the north of Boston, in Essex County, home sales skyrocketed by 14%, according to the report.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, fell to 3.78% from 3.87%. The benchmark 15-year fixed-rate mortgage fell to 2.99% from 3.08%. The benchmark 5/1 adjustable-rate mortgage fell to 3.35% from 3.42%.
Weekly mortgage survey
|Results from Bankrate's Feb. 3 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:||3.8%||2.99%||3.35%||3.78%|
|Change from last week:||-0.06||-0.09||-0.07||-0.09|
|Change from last week:||-$5.62||-$7.13||-$6.37||-$23.76|