Massachusetts Home Buyer Guide, First-time Homebuyer Tips, Advice MA (31)

FHA Reduces Mortgage Insurance Premiums

Jan 12, 2017 6:18:33 PM

(UPDATE: The Trump Administration on January 20, 2017 indefinitely suspended the recently announced FHA mortgage insurance premium reduction.)

Homebuyers will pay less for mortgage insurance when purchasing a home with an FHA loan starting later this month, the Federal Housing Administration (FHA) announced January 9, 2017; however, most Massachusetts homebuyers with credit scores 680 or higher still will have more appealing low down payment financing options.

Topics: Mortgages 101, Loan Programs, Mortgage Rates & News, FHA

How Much Cash Do Massachusetts First-time Homebuyers Need?

Jan 12, 2017 8:55:00 AM

One of the most difficult parts of buying a home for Massachusetts first-time homebuyers is saving for the down payment. So how much cash on hand does a homebuyer need to buy a home?

Topics: Home-buying Tips, Mortgages 101, Loan Programs

After Nine Weeks of Increases, Interest Rates Decline

Jan 11, 2017 4:56:55 PM

The average U.S. interest rate for a 30-year, fixed rate mortgage declined from 4.32 percent to 4.20 percent for the week ending January 5, 2017, according to Freddie Mac's Primary Mortgage Market Survey.

Topics: Mortgage Rates & News

Median Condo Price in North End Tops $550K

Jan 5, 2017 12:59:25 PM

The median price of a condominium in Boston's North End neighborhood reached $551,500 through the first 11 months of 2016, according to data compiled by the Greater Boston Association of Realtors. The data included the sparsely populated West End neighborhood.

Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Boston

Mortgage Interest Rates Increase Nine Straight Weeks

Jan 2, 2017 9:42:46 AM

U.S. average mortgage interest rates increased for the ninth consecutive week, according to Freddie Mac's Primary Mortgage Market Survey.

Topics: Mortgage Rates & News

Median Condo Price in Jamaica Plain More Than $500K

Dec 30, 2016 11:15:46 AM

Through the first 11 months of 2016, the median price of a condominium in Boston's Jamaica Plain neighborhood was more than $500,000, according to data compiled by the Greater Boston Association of Realtors.

Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Boston

Massachusetts November Home Sales Up By More Than 1,000

Dec 28, 2016 8:45:00 AM

There were 5,061 single-family homes sold in Massachusetts in November compared to 4,015 houses sold in November 2015, a 26 percent increase, The Warren Group, publisher of Banker & Tradesman, reported December 27, 2016.

Topics: Real Estate Market, Massachusetts Home Prices, The Warren Group

U.S. Mortgage Interest Rates Hit Two-year High

Dec 27, 2016 9:42:48 AM

Not since April 2014 have homebuyers seen average U.S. mortgage interest rates as high as the rate reached for the week ending December 22, 2016, Freddie Mac reported in its Primary Mortgage Market Survey.

Topics: Mortgage Rates & News