Mortgage rates in Boston mostly rose this week. And a new study revealed the neighborhoods where Bostonians go when they move away from the city lights.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston rose to 4.07% from 4.02%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.19 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.05%.
Where do Bostonians move?
According to an analysis of new data from the U.S. Census Bureau by BostInno, between 2009 and 2013, those who moved out of Boston's own Suffolk County mostly went to the surrounding Greater Boston counties -- Middlesex, Norfolk, Essex and Plymouth.
Close behind, however, were New York County and Los Angeles County. It seems that some Bostonians are leaving Boston for bigger cities, notes BostInno.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, fell to 4.02% from 4.03%. The benchmark 15-year fixed-rate mortgage rose to 3.16% from 3.11%. The benchmark 5/1 adjustable-rate mortgage rose to 3.14% from 3.03%.
Weekly mortgage survey
|Results from Bankrate's Sept. 2 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:||4.07%||3.16%||3.14%||4.02%|
|Change from last week:||+0.05||+0.05||+0.11||-0.01|
|Change from last week:||+$4.78||+$4||+$9.92||-$2.69|