See the latest Massachusetts mortgage rates for fixed rates: 30 year, 20, 15, 10 FHA, VA, Jumbo, plus variable rates: 10, 7, 5, 3 year. Also see how local rates compare nationally and main lending options available across the state.
Buying a home in Massachusetts could be easier with today’s mortgage rates.
Mortgage Rates in Massachusetts –
The table below shows today’s home purchase mortgage rates for Massachusetts, organized by credit score and lender type:
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.31% | 6.36% | 6.41% | |
| Massachusetts | 6.22% | 6.27% | 6.32% | |
| Credit Unions | 5.82% | 5.87% | 6.02% | 8.4/10 |
| Online lenders | 5.92% | 5.97% | 6.12% | 7.8/10 |
| Banks | 6.22% | 6.27% | 6.32% | 8.0/10 |
| 30 year fixed | 6.22% | 6.27% | 6.32% | |
| 30 year fixed FHA | 6.37% | 6.42% | 6.47% | |
| 30 year fixed VA | 5.97% | 6.02% | 6.07% | |
| 30 year fixed Jumbo | 6.45% | 6.83% | 7.02% | |
| 20 year fixed | 6.13% | 6.18% | 6.23% | |
| 15 year fixed | 5.72% | 5.77% | 5.82% | |
| 10 year fixed | 5.54% | 5.59% | 5.64% | |
| 3 year ARM | 3.99% | 4.04% | 4.09% | |
| 5 year ARM | 6.30% | 6.35% | 6.40% | |
| 7 year ARM | 6.21% | 6.26% | 6.31% | |
| 10 year ARM | 6.22% | 6.27% | 6.32% | |
| Satisfaction | 8.3/10 | 8.4/10 | 7.2/10 |
Source: MFP’s Community Home Purchase Rates Survey from Massachusetts members in the last 30 days.
How Massachusetts Compares to National Averages
- Massachusetts mortgage rates (6.22% for best credit scores) are slightly below national averages (national average: 6.31%).
- Credit unions are more competitive: In Massachusetts, credit unions offer 5.82%, banks 6.22%, online lenders 5.92%.
Mortgage Options in Massachusetts
- 30 year fixed: 6.22% - most popular long-term option for predictable payments
- 20 year fixed: 6.13% - balance between payment size and interest savings
- 15 year fixed: 5.72% - lower total interest cost for borrowers building equity faster
- 10 year fixed: 5.54% - shortest fixed-term option with competitive rates
- 10 year variable: 3.99% - Offers a longer initial period with a variable rate...
- 7 year variable: 6.30% - A mid-term variable option...
- 5 year variable: 6.21% - Shorter-term variable mortgage...
- 3 year variable: 6.22% - Quick-adjusting mortgage...
- FHA mortgage: government-backed with flexible credit requirements
- VA mortgage: exclusive to veterans and military members with competitive rates
Massachusetts Metro Mortgage Rates*
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Boston | 6.22% | 5.83% |
| Worcester | 6.17% | 5.78% |
| Springfield | 6.15% | 5.76% |
| Cambridge | 6.24% | 5.85% |
| Lowell | 6.18% | 5.79% |
* APR rates shown are for borrowers with excellent credit. Click city names to view recommended lenders and ratings.
Compare Lenders Rated by Massachusetts Homeowners
Massachusetts homeowners rated their mortgage lenders on:
- Ease of application
- Rates and terms offered
- Customer support and advice
- Overall recommendation %
See the Best Mortgage Lenders in Massachusetts
FAQs Massachusetts Mortgage Rates
Are home purchase rates higher in Massachusetts than the U.S. average?
Massachusetts rates typically run slightly below national averages due to competitive lending markets and strong financial infrastructure.
What credit score is best for buying a home in Massachusetts?
A credit score of 720 or higher generally secures the most favorable mortgage rates from Massachusetts lenders.
Is it better to choose a fixed-rate or ARM in Massachusetts?
Fixed-rate mortgages offer payment stability for long-term residents, while ARMs can provide initial savings for those with shorter-term housing plans.
More Massachusetts Home Information:
Massachusetts Best Mortgage Lenders
Massachusetts Best Home Insurance from Community Recommendations & Insurance Costs
More Resources for Massachusetts Homeowners.