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Boston Home Mortgage Rates
Boston home mortgage rates remain low for refinance loan options with FHA home loans, refinancing and debt consolidation loans for Massachusetts residents. Our Boston mortgage lenders specialize in refinancing first and second mortgages. At this time we are offering Massachusetts homeowners several incentives for refinancing their home, so check with your loan officer for available incentives. Our refinance and home equity loans were designed so people who need cash can pay off debts, and finance home improvement projects.
- Competitive Mortgage Refinance Rates
- No Mortgage Insurance Required
- 2nd Mortgages for All Types of Credit
- FHA Home Loans for 1st time buyers
- Increased Home Loan Limits to $523,750
- Cash Out Refinancing to 95% LTV
- Low Rate Credit Lines
- Fixed Rate 30 Year Mortgages
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Boston homeowners take advantage of low rate incentives for home financing |
MSA Name |
County Name |
State |
One-Family |
Two-Family |
Three-Family |
Four-Family |
BOSTON-QUINCY , MA METROPOLITAN |
NORFOLK |
MA |
$523,750 |
$670,500 |
$810,450 |
$1,007,200 |
BOSTON-QUINCY , MA METROPOLITAN |
SUFFOLK |
MA |
$523,750 |
$670,500 |
$810,450 |
$1,007,200 |
BOSTON-QUINCY , MA METROPOLITAN |
PLYMOUTH |
MA |
$523,750 |
$670,500 |
$810,450 |
$1,007,200 |
Boston Not Booming: Home Buyer Friendly even as Mortgage Rates Drop
 It is now a clearly accepted "Buyer's Market" in Boston, which continues to be unpredictable, volatile & challenging," says realtor Duncan Donahue. "The Boston area has experienced a critical transition from moderate housing inventory levels to a surplus in most every neighborhood.
Home sales dropped 12.5% in Bean town from the first to second quarter of 2006. In the 1st quarter, home sales showed up at 1,407 and then dropped to 1,264 during the second quarter. Interest rates for home purchase and refinancing remained the same. Massachusetts mortgage brokers did report a slight reduction for second mortgage and home equity rates during the second quarter.
"Boston will always have a high level of inflow and out flux of Buyers & Sellers, given the strong push & pull of the University/educational oriented population as well as the Hospital / Biotech related communities around the city," says Donahue. "As a result, Boston will continue to experience a relatively high ongoing level of real estate transactions. The prices of homes in these transactions will be dictated by the market demand, current inventory levels and the property's specific attributes."
Median sales prices actually rose right alongside the rising prime interest rate. First quarter prices struck in at $39,000 then slide into the second quarter to $421,000. But some say more inventory on the market will push prices even lower. "Due to the high level of housing inventory in this quarter, prices of condos & single family homes in Boston are lower relative to previous appreciation rates and new listings are coming on the market with more "realistic" asking prices, as perceived by many buyers/brokers."
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