Mortgage rates in Boston fell this week. And Boston's housing inventory keeps shrinking.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston fell to 3.81 percent from 3.95 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.31 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.8 percent.
Boston's condo inventory keeps dropping
The condo inventory is shrinking in the Hub. Overall, there were about 10 percent fewer condos available on the Boston real estate market on St. Patrick's Day 2015 than on St. Patrick's Day 2014, according to Curbed.com.
For condos under $1 million, there were about 20 percent fewer.
Part of that decline in inventory was due to winter storms, notes Curbed.
The benchmark 30-year jumbo mortgage, for loans of $465,750 and up, fell to 3.9 percent from 3.99 percent. The benchmark 15-year fixed-rate mortgage fell to 3.02 percent from 3.12 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.05 percent from 3.16 percent.
Weekly mortgage survey
|Results from Bankrate's March 25 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:||3.81%||3.02%||3.05%||3.9%|
|Change from last week:||-0.14||-0.1||-0.11||-0.09|
|Change from last week:||-$13.10||-$7.93||-$9.79||-$23.95|