See current Massachusetts Refinance fixed rates (30 Year, 20, 15, 10, FHA, VA and Jumbo), variable rates (10 year, 7, 5, 3), Cash Out rates, plus comparisons with national averages and lender types. Refinancing in Massachusetts can help lower your monthly payment, shorten your loan term, or tap into equity with a cash-out refinance.
Massachusetts Refinance Rates –
Community-reported rates in Massachusetts (shown are average APRs):
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.64% | 6.69% | 6.74% | |
| Massachusetts | 6.62% | 6.67% | 6.71% | |
| Credit Unions | 6.21% | 6.26% | 6.42% | 8.8/10 |
| Online lenders | 6.32% | 6.37% | 6.51% | 8.3/10 |
| Banks | 6.62% | 6.67% | 6.71% | 7.5/10 |
| 30 year fixed | 6.62% | 6.67% | 6.71% | |
| 30 year fixed FHA | 6.52% | 6.57% | 6.62% | |
| 30 year fixed VA | 6.10% | 6.15% | 6.20% | |
| 30 year fixed Jumbo | 6.73% | 6.97% | 7.16% | |
| 20 year fixed | 6.32% | 6.37% | 6.42% | |
| 15 year fixed | 6.12% | 6.17% | 6.22% | |
| 10 year fixed | 5.64% | 5.69% | 5.74% | |
| 3 year ARM | 4.07% | 4.12% | 4.17% | |
| 5 year ARM | 6.64% | 6.69% | 6.74% | |
| 7 year ARM | 6.63% | 6.68% | 6.73% | |
| 10 year ARM | 6.49% | 6.54% | 6.59% | |
| Satisfaction | 8.6/10 | 7.7/10 | 8.0/10 |
Source: MFP’s Community Home Refinance Rates Survey of Massachusetts homeowners members in the last 30 days.
Cash Out Refinance Rates in Massachusetts –
Find community reported cash-out refinance rates by Massachusetts homeowners (rates are average APR).
| Credit Score | |||
|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | |
| Nationally | 6.76% | 6.89% | 7.01% |
| Massachusetts | 6.74% | 6.87% | 6.99% |
| Credit Unions | 6.34% | 6.46% | 6.69% |
| Online lenders | 6.44% | 6.57% | 6.79% |
| Banks | 6.74% | 6.87% | 6.99% |
| 30 year fixed | 6.74% | 6.87% | 6.99% |
| 30 year fixed FHA | 6.65% | 6.77% | 6.90% |
| 30 year fixed VA | 6.22% | 6.35% | 6.48% |
| 30 year fixed Jumbo | 6.85% | 6.98% | 7.10% |
| 20 year fixed | 6.44% | 6.57% | 6.69% |
| 15 year fixed | 6.24% | 6.37% | 6.49% |
| 10 year fixed | 5.76% | 5.89% | 6.01% |
| 3 year ARM | 4.20% | 4.32% | 4.45% |
| 5 year ARM | 6.77% | 6.89% | 7.02% |
| 7 year ARM | 6.75% | 6.88% | 7.00% |
| 10 year ARM | 6.62% | 6.74% | 6.87% |
Source: MFP’s Community Home Refinance Rates Survey of Massachusetts members in the last 30 days.
How Massachusetts Compares to National Averages
- Massachusetts refinance rates (6.62% for best credit scores) are in line with national averages (national average: 6.64%).
- Credit unions are more competitive: In Massachusetts, credit unions offer 6.46%, banks 6.71%, online lenders 6.57%.
- Borrower satisfaction: Credit unions 8.7/10, Online lenders 8.4/10, Banks 8.1/10.
Refinance Options in Massachusetts
- 30-year Fixed: At 6.62% APR for excellent credit, Massachusetts's most popular choice for stable long-term payments with predictable monthly costs
- 30-year Fixed FHA: At 6.52% APR for excellent credit, government-backed programs with competitive terms and flexible qualification requirements
- 30-year Fixed VA: At 6.10% APR for excellent credit, exclusive to eligible veterans and military members, featuring Massachusetts's most competitive rates
- 30-year Fixed Jumbo: At 6.73% APR for excellent credit, for high-value homes with competitive jumbo mortgage terms
- 20-year Fixed: At 6.32% APR for excellent credit, a balanced option between shorter and longer terms with moderate payments
- 15-year Fixed: At 6.12% APR for excellent credit, lower interest rates but higher monthly payments, ideal for building equity faster
- 10-year Fixed: At 5.64% APR for excellent credit, the shortest fixed-term option with competitive rates for rapid equity building
- Adjustable-rate mortgages (ARMs): Various terms including 3-year (4.07% APR), 5-year (6.64% APR), 7-year (6.63% APR), and 10-year (6.49% APR) options that start lower but may adjust upward after initial fixed period
Metro Area Rates
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Boston | 6.44% | 5.94% |
| Cambridge | 6.43% | 5.94% |
| Springfield | 6.42% | 5.93% |
| Worcester | 6.41% | 5.93% |
| Lowell | 6.41% | 5.92% |
* APR Rates shown are for borrowers with the best credit scores. Click the city name to see community recommended lenders and ratings.
Compare Lenders Rated by Massachusetts Homeowners
Credit unions offer the most competitive rates and highest borrower satisfaction in Massachusetts, followed by online lenders. Banks lag slightly behind on both rates and satisfaction.
See the Best Mortgage Refinance Lenders in Massachusetts
FAQs – Massachusetts Refinance Rates
Are refinance rates lower in Massachusetts than the U.S. average?
Massachusetts rates are slightly lower 6.42% vs. 6.60% nationally for top credit borrowers.
What’s the best credit score for refinancing in Massachusetts?
Borrowers with 720+ credit scores typically secure the best rates, averaging 6.42% for 30-year fixed loans.
Which lenders have the highest satisfaction in Massachusetts?
Credit unions lead at 8.7/10, online lenders follow at 8.4/10, and banks trail at 8.1/10.
More Info for Massachusetts Homeowners:
Massachusetts Best Refinance Lenders from Community recommendations
Massachusetts Home Equity Loan & Massachusetts HELOC Rates
Loans Comparison Calculator: Heloc, Cash-Out, Home Equity, Renovation.
Massachusetts Best Home Insurance from Community recommendations & Costs