Massachusetts Mortgage Rates Today — Compare MA Lenders
The average 30-year fixed mortgage rate in Massachusetts is currently 6.70% APR. Greater Boston is one of the most expensive housing markets in the US. Many Boston-area counties have conforming loan limits up to $1,149,825. Compare today’s rates from top Massachusetts lenders across all major loan types below.
Massachusetts Mortgage Rate Comparison Table
Rates below assume a 740+ credit score, 20% down payment, and a $650,000 loan on a single-family primary residence in Massachusetts.
| Loan Type | Interest Rate | APR | Best For |
|---|---|---|---|
| 30-Year Fixed | 6.70% | 6.70% | Most Popular |
| 15-Year Fixed | 6.04% | 6.04% | Pay off faster, save interest |
| 5/1 ARM | 6.82% | 6.82% | Short-term owners |
| FHA 30-Year | 6.33% | 6.33% | Low down payment |
| VA 30-Year | 6.16% | 6.16% | Veterans & military |
| 30-Year Refinance | 6.82% | 6.82% | Existing homeowners |
Rates sourced from lender survey data and updated regularly. Actual rates vary by lender and borrower profile. See disclaimer.
Understanding Mortgage Rates in Massachusetts
Massachusetts housing is dominated by the Boston metro, one of the most expensive markets in the US. Boston’s concentration of universities, hospitals, and tech companies drives intense housing demand. MassHousing offers competitive first-time buyer programs for qualifying borrowers.
Western Massachusetts offers dramatically more affordable options. Springfield and Worcester offer large-city amenities at prices far below the Boston market.
What Affects Your Massachusetts Mortgage Rate?
Several key factors influence the rate a Massachusetts lender will offer you: your credit score (740+ gets the best rates), your down payment (20%+ eliminates PMI), your loan type (VA and FHA often beat conventional), and broader market conditions driven by the Federal Reserve and Treasury yields. Always compare at least 3–5 lenders — the spread between best and worst rate can be 0.5–1.0%.