Mortgage rates in Boston jumped this week. Meanwhile, developers broke ground on a new residential building in Boston's North End.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston rose to 3.89 percent from 3.81 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.25 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.86 percent.
Boston's new luxury condos
There's a new residential building going up at Lovejoy Wharf in Boston's North End, according to BostInno.
The building will include 175 luxury condominiums right along the waterfront, providing pedestrian access to the Charles River Damn, notes Curbed.
But the major downside to the development is that it will have no parking spaces -- a much valued asset in the Hub, notes Curbed.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, rose to 3.89 percent from 3.85 percent. The benchmark 15-year fixed-rate mortgage rose to 3.01 percent from 2.96 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.03 percent from 3.01 percent.
Weekly mortgage survey
|Results from Bankrate's April 29 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:||3.89%||3.01%||3.03%||3.89%|
|Change from last week:||+0.08||+0.05||+0.02||+0.04|
|Change from last week:||+$7.58||+$3.97||+$1.78||+$10.68|