Massachusetts Home Buyer Guide

The average rate for the 30-year, fixed-rate mortgage loan in the United States for the week ending July 21, 2016 increased to 3.45 percent from 3.42 percent the previous week, Freddie Mac reported July 21, 2016.

The average interest rate included an average 0.5 point. The 30-year loan had an average interest rate of 4.04 percent during the same week last year. 

"Post-Brexit volatility tapered off over the last two weeks, allowing interest rates to bounce back a bit from their record (10-year Treasury yield) and near-record (30-year mortgage rate) lows," Sean Becketti, Freddie Mac chief economist, said. "This week, the 30-year fixed mortgage rate increased 3 basis points to a still-quite-low 3.45 percent. With the Federal Reserve on hold and the UK monetary authority taking at least a one-month breather, we don't expect any significant movement in mortgage rates in the near-term. This summer remains an auspicious time to buy a home or to refinance an existing mortgage."

The average rate for a 15-year home loan was 2.75 percent compared to 2.72 percent the previous week and 3.21 percent the previous year.