Massachusetts Home Buyer Guide

Massachusetts homebuyers preparing to enter the Greater Boston real estate market now that spring has arrived will be faced not only with scarce inventory and competition from other buyers but higher interest rates too. 

Average U.S. mortgage loan interest rates increased to the highest average rate since the start of the year, according to Freddie Mac's weekly Primary Mortgage Market Survey for the week ending March 9, 2017. 

After initially declining a little at the start of the year and then remaining flat for about a month, average U.S. mortgage interest rates declined for the week ending March 2, 2017, according to Freddie Mac's weekly Primary Mortgage Market Survey. 

U.S. mortgage interest rates have changed by only two basis points or less over a four-week period, according to Freddie Mac's Primary Mortgage Market Survey. 

Average U.S. mortgage interest rates declined for the second consecutive week, Freddie Mac reported February 16, 2017, through its weekly Primary Mortgage Market Survey; however, interest rates averaged a half-point more than last year. 

Average U.S. mortgage interest rates slightly declined for the week ending February 9, 2017, and remained within a two-basis-point range over the past three weeks, according to Freddie Mac's weekly Primary Mortgage Market Survey.

The average mortgage interest rate in the United Stated increased for the first time in 2017 after three weeks on declines, according to Freddie Mac's Primary Mortgage Market Survey released January 26, 2017. 

Average U.S. mortgage interest rates declined for the third straight week for the week ending January 19, 2017, according to Freddie Mac's Primary Mortgage Market Survey. 

Average U.S. mortgage interest rates declined for the second consecutive week, according to Freddie Mac's Primary Mortgage Market Survey released January 12, 2017. 

(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.

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. 

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