Mortgage rates in Boston mostly fell this week. Meanwhile, a new report ranked Boston's cheapest and most expensive areas to rent residential real estate this summer.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston fell to 4.16 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 0.28 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.12 percent.
The most expensive and cheapest areas to rent
Boston is the third most expensive city in the country to rent real estate, according to a new report from rental site Zumper. The median rent for a one-bedroom in the city was $2,230 in June.
The most expensive area to rent was D Street-West Broadway, at $3,120 for a one-bedroom. The MIT area ($3,090) and Downtown ($3,065) ranked second and third on the list.
More affordable areas were Allston, at a median $1,750 per month, and the Columbus Park/Andrew Square area ($1,670), notes the report.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, fell to 4.21 percent from 4.23 percent. The benchmark 15-year fixed-rate mortgage fell to 3.26 percent from 3.3 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.24 percent.
Weekly mortgage survey
|Results from Bankrate's July 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:||4.16%||3.26%||3.24%||4.21%|
|Change from last week:||-0.07||-0.04||N/C||-0.02|
|Change from last week:||-$6.71||-$3.21||N/C||-$5.44|