Mortgage rates in Boston were mixed this week. Meanwhile, Boston was the only major eastern city to see positive home price gains in July.
This week's rates
The benchmark 30-year fixed-rate mortgage in Boston rose to 4.01% from 4%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.26 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01%.
Boston home prices
Home prices in Boston are on the rise. In July, home prices in the Hub rose 4.3% year over year, according to the latest Standard & Poor's/Case-Shiller home-price index.
Out of the 20 major cities that the index measures, Boston was the only eastern city to see a positive gain during July, notes the report.
From June to July, the Hub saw a 1.1% increase in home prices.
The benchmark 30-year jumbo mortgages, for loans of $465,750 and up, fell to 3.98% from 3.99%. The benchmark 15-year fixed-rate mortgage remained at 3.12%. The benchmark 5/1 adjustable-rate mortgage remained at 3.11%.
Weekly mortgage survey
|Results from Bankrate's Sept. 30 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:||4.01%||3.12%||3.11%||3.98%|
|Change from last week:||+0.01||N/C||N/C||-0.01|
|Change from last week:||+$0.95||N/C||N/C||-$2.68|