Rates Blog

Finance Blogs » Rates » Mortgage rates in Boston, Massachusetts

Mortgage rates in Boston, Massachusetts

By Clare Mallen · Bankrate.com
Thursday, October 9, 2014
Posted: 12 pm ET

Mortgage rates in Boston were mixed this week. And the price of a prime parking space in the Hub is now well into six digits -- or the price of a nice home in many areas of the country.

This week's rates

The benchmark 30-year fixed-rate mortgage in Boston fell to 4.21 percent from 4.28 percent, 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 4.16 percent.

Boston parking spaces as pricey as a home

Parking spaces are prime real estate in Boston. In fact, someone just paid $560,000 for tandem parking spaces outside of 298 Commonwealth Ave., reports Curbed.

Back in 2009, a single parking spot in Boston went for a record $300,000, and that record still holds. But Curbed lists at least nine other parking spaces -- some a pair of parking spaces -- that have gone for over $100,000 in the Hub within the last five years.

More rates

The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, rose to 4.32 percent from 4.3 percent. The benchmark 15-year fixed-rate mortgage fell to 3.44 percent from 3.48 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.26 percent from 3.25 percent.

Shop mortgage rates in your area.

Weekly mortgage survey

Results from Bankrate's Oct. 8 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: 4.21% 3.44% 3.26% 4.32%
Change from last week: -0.07 -0.04 +0.01 +0.02
Monthly payment: $807.84 $1,174.70 $719.00 $2,310.34
Change from last week: -$6.73 -$3.23 +$0.91 +$5.48
«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
1 Comment
sebastien
June 16, 2014 at 4:31 pm

Dear,

Could you do a mortgage for a J1 Visa holder (status valid for the next 3y)

Regards,

Sebastien Talbot. PhD
Harvard Medical School
300 Longwood Ave, Boston, Ma, 02119

Add a comment

(Comments may take 5-10 minutes to appear)