Mortgage rates in Massachusetts
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Greater Boston is one of the most expensive metros outside the West Coast.
Mortgage rates today by loan type
These are national averages. Lenders in Massachusetts price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Calculate your Massachusetts mortgage payment
The calculator starts from Massachusetts's median list price, 20% down, the state's 1.08% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the full amortization schedule. To see how Massachusetts's property tax and insurance compare with every other state, try the mortgage calculator with taxes and insurance.
Massachusetts vs. the U.S.
Massachusetts's median list price is 69% above the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan runs $1,544 a month more. Five-year price growth here was the 23rd-slowest of 51 jurisdictions.
| Measure | Massachusetts | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $699,900 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $3,793 | $2,249 |
| Average home-purchase loanHMDA 2025 | $604,412 | $404,828 |
| Average closing costsincl. transfer taxes | $5,112 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.50% | 6.50% |
| Mortgage approval rateHMDA 2025 | 79.4% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +3.2% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +41.9% | +41.3% |
What Massachusetts borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every Massachusetts home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, Massachusetts borrowers paid 0.05 percentage points below the market benchmark at lock, the 10th-lowest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateMA · U.S. | Over benchmarkMA · U.S. | Closing costsMA · U.S. | Paid pointsshare of loans | Median downequity on refis · MA |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)14,818 loans | 6.50%6.50% | −0.05+0.02 | $4,969$5,476 | 31.2%53.2% | 25.8% |
| Jumbo 30-yr fixed (20%+ down)1,412 loans | 6.45%6.63% | −0.17+0.00 | $7,123$10,251 | 19.9%38.4% | 20% |
| FHA 30-yr fixed3,903 loans | 6.38%6.25% | +0.55+0.42 | $14,747$11,291 | 57.0%59.3% | 3.5% |
| VA 30-yr fixed1,753 loans | 6.25%6.13% | −0.32−0.36 | $7,549$6,554 | 43.1%59.3% | 0% |
| Conventional rate-and-term refinance4,050 loans | 6.25%6.38% | −0.10−0.06 | $3,884$4,390 | 29.6%45.4% | 31.3% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in Massachusetts and what their borrowers paid.
Massachusetts's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in Massachusetts by 2025 purchase loans, out of 581 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in MA | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| Leader Bank, National Association | 3,4106.6% | 6.49% | −0.21 | $1,499 | 8%$1,500 | 26% |
| Guaranteed Rate (Rate) | 2,7485.3% | 6.60% | −0.01 | $1,640 | 21%$1,500 | 25% |
| CrossCountry Mortgage | 2,4224.7% | 6.75% | +0.10 | $1,690 | 34%$2,399 | 26% |
| United Wholesale Mortgage | 1,7753.4% | 6.60% | +0.04 | $2,294 | 48%$1,597 | 26.9% |
| Rocket Mortgage | 1,4552.8% | 6.50% | ±0.00 | $2,120 | 55%$3,349 | 27% |
| Fairway Independent Mortgage | 1,2522.4% | 6.63% | +0.09 | $1,715 | 33%$2,244 | 26.4% |
| Guild Mortgage | 1,1982.3% | 6.63% | −0.03 | $1,783 | 28%$2,069 | 25.6% |
| CMG Home Loans | 1,1932.3% | 6.63% | +0.05 | $1,870 | 36%$1,675 | 25% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in Massachusetts. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: Massachusetts lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in Massachusetts
On a home at Massachusetts's median list price of $699,900 with 20% down, the loan works out to $559,920, or about $3,793 a month in principal and interest at the 7.18% 30-year average.
What makes Massachusetts different is the cost around the loan. Its 1.08% effective property-tax rate adds roughly $630 a month, and homeowners insurance — at the state's median 0.28% of home value — about $163 more, bringing the all-in estimate to $4,586. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the affordability estimator.
Payment at the $699,900 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $4,586P&I $3,793 | — | $145,092 | $197,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $5,428P&I $4,267 | $367 | $75,102 | $233,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $5,685P&I $4,504 | $388 | $40,107 | $244,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $5,788P&I $4,599 | $396 | $26,109 | $248,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $5,624P&I $4,521 | $310 | $29,609 | $241,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $5,411P&I $4,618 | — | $5,112 | $232,000 |
Monthly = principal and interest + property tax (1.08% effective) + homeowners insurance (about $163/mo — Massachusetts's median premium, 0.28% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + Massachusetts's average closing costs ($5,112). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in Massachusetts's biggest counties
Home prices, and so the loan you need, vary more inside Massachusetts than rates do. The table covers the largest county markets and the high-cost counties where the conforming limit is higher. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Middlesex County2,676 homes for sale · Sep 2026 | $839,750-6.9% | $736,49913,646 loans | $962,550$1,203,187 | Conforming$671,800 loan | $5,503at 7.18% | |
| Suffolk County1,836 homes for sale · Sep 2026 | $799,450-4.7% | $749,8395,447 loans | $962,550$1,203,187 | Conforming$639,560 loan | $5,239at 7.18% | |
| Worcester County1,615 homes for sale · Sep 2026 | $549,946-0.6% | $479,1728,895 loans | $832,750$1,040,937 | Conforming$439,957 loan | $3,604at 7.18% | |
| Barnstable County1,247 homes for sale · Sep 2026 | $899,000-2.5% | $633,0442,971 loans | $832,750$1,040,937 | Conforming$719,200 loan | $5,891at 7.18% | |
| Essex County1,238 homes for sale · Sep 2026 | $740,723+1.6% | $605,2946,899 loans | $962,550$1,203,187 | Conforming$592,578 loan | $4,854at 7.18% | |
| Norfolk County1,232 homes for sale · Sep 2026 | $786,950-12.3% | $748,5346,392 loans | $962,550$1,203,187 | Conforming$629,560 loan | $5,157at 7.18% | |
| Plymouth County1,135 homes for sale · Sep 2026 | $729,950-3.9% | $597,5085,335 loans | $962,550$1,203,187 | Conforming$583,960 loan | $4,783at 7.18% | |
| Bristol County876 homes for sale · Sep 2026 | $569,475-5.1% | $476,7444,938 loans | $832,750$1,040,937 | Conforming$455,580 loan | $3,732at 7.18% | |
| Hampden County641 homes for sale · Sep 2026 | $377,450+2% | $300,0164,563 loans | $832,750$1,040,937 | Conforming$301,960 loan | $2,473at 7.18% | |
| Berkshire County608 homes for sale · Sep 2026 | $549,975+3.8% | $309,8681,438 loans | $832,750$1,040,937 | Conforming$439,980 loan | $3,604at 7.18% | |
| Hampshire County324 homes for sale · Sep 2026 | $554,500+6.7% | $364,7981,139 loans | $832,750$1,040,937 | Conforming$443,600 loan | $3,634at 7.18% | |
| Dukes County260 homes for sale · Sep 2026 | $2,495,000+1.4% | $1,263,374203 loans | $1,249,125$1,561,406 | Jumbo$1,996,000 loan | $16,444at 7.25% | |
| Nantucket County145 homes for sale · Sep 2026 | $5,873,250+6.6% | $2,411,129186 loans | $1,249,125$1,561,406 | Jumbo$4,698,600 loan | $38,709at 7.25% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), Massachusetts's 1.08% effective property tax and its median insurance premium (0.28% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in Massachusetts
Rates are national, but the rules around the loan are not. These Massachusetts specifics can change your payment, your closing or your protections as a borrower.
Prop 2½ caps town levies, not your bill
Proposition 2½ limits what a Massachusetts city or town can raise in total property taxes: its levy limit grows 2.5% a year, plus new growth and any voter-approved overrides. The cap applies to the community's total, not each bill, so your own taxes can still rise with your assessment or the local rate.
Source: malegislature.govFAIR Plan is the insurer of last resort
The Massachusetts FAIR Plan (MPIUA) offers basic property coverage to residential owners that private insurers have declined, canceled or non-renewed, and flooding is not covered. Lenders generally require homeowners coverage, so a home that private insurers will not write may depend on this plan to close.
Source: mass.govHomestead protection: $125,000 automatic, $1 million recorded
Massachusetts gives an owner-occupied home an automatic homestead exemption of $125,000, and a written declaration recorded at the registry of deeds raises it to $1,000,000. Joint owners generally share one amount. Because the exemption shields home equity from many creditors, it matters more as your equity grows.
Source: malegislature.govLender's attorney certifies title on owner-occupied purchases
For a purchase-money first mortgage on a home of up to four units that the buyer will occupy, Massachusetts requires an attorney acting for the lender to certify title. The certification covers at least a 50-year title examination and goes to the borrower as well as the lender.
Source: malegislature.govSeptic homes need Title 5 inspection at sale
When a Massachusetts home with a septic system is sold, Title 5 requires an inspection by a MassDEP-approved inspector within two years before the sale, and the buyer must receive the report. A failed system must be upgraded within two years unless regulators allow another schedule, so read the report before committing.
Source: mass.govChecked against official sources on October 19, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How Massachusetts buyers finance their homes
Massachusetts leans conventional: 89.9% of 2025 originations were conventional loans (U.S. 78.0%), while FHA made up 7.2% and VA 2.8% — below the national 13.2% and 8.2%. Government-backed loans are still widely available; they are simply a smaller slice of what borrowers here choose.
| Loan type | Share in MA | U.S. share | Approval in MA | Avg loan in MA |
|---|---|---|---|---|
| Conventional | 89.9% | 78.0% | 79.5% | $473,217 |
| FHA | 7.2% | 13.2% | 76.7% | $471,140 |
| VA | 2.8% | 8.2% | 83.3% | $528,958 |
| USDA | 0.2% | 0.6% | 87.7% | $80,586 |
The average Massachusetts home loan in 2025 was $473,997 — 34% above the U.S. average of $352,861, the 5th-largest of 51 jurisdictions. Home purchases accounted for 59.5% of those loans (U.S. 64.2%); cash-out refinances for 15.9% (U.S. 17.1%).
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
Massachusetts loan limits for 2026
7 of Massachusetts's 14 counties are high-cost areas for 2026, with one-unit conforming limits above the $832,750 baseline — highest in Dukes County ($1,249,125), Nantucket County ($1,249,125), Essex County ($962,550). Everywhere else in the state the cap is $832,750, so the same loan amount can be conforming in one county and jumbo in the next. See the full national grid in our conforming loan limit reference, and if you are over the line, what changes with jumbo rates.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in Massachusetts
Average closing costs in Massachusetts are about $5,112 including transfer taxes (No. 14 of 51, highest first). On a home at the median list price of $699,900:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $139,980 | $20,997 |
| Average closing costs | $5,112 | $5,112 |
| Cash to close (estimate) | $145,092 | $26,109 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in Massachusetts
Massachusetts charges a deeds excise of $2.28 per $500 of the price (0.456%), less any mortgage the buyer assumes; Barnstable County (Cape Cod) adds a county surcharge on top. Source: mass.gov
Getting approved in Massachusetts
Federal HMDA lending records show Massachusetts lenders originated 135,614 home loans in 2025 and denied 35,105 applications — an approval rate near 79.4% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our mortgage approval report, and how Massachusetts ranks for lender complaints (9,465 on record).
Shopping for a loan? See the most active mortgage lenders in Massachusetts, ranked by federal HMDA volume.
Down-payment help in Massachusetts
You rarely need 20% down. These are the main programs from MassHousing, Massachusetts's housing finance agency; they are offered through participating lenders, usually alongside the agency's own first mortgage.
MassHousing Down Payment Assistance
Up to $30,000 for first-time buyers using a MassHousing first mortgage, available in every city and town, with the rate and repayment terms set by household income. MassHousing discontinued its expanded 0% deferred option in June 2026, so confirm current terms with a participating lender.
Source: masshousing.comChecked against official sources on October 9, 2026. Assistance amounts, income limits and funding change during the year — confirm current terms with MassHousing or a participating lender.
No state mortgage credit certificate in Massachusetts
MassHousing's homebuying programs include no MCC. MCC status in all 50 states and DC.
Check current terms at MassHousing, see how a smaller down payment changes your number with the down-payment estimator, or compare assistance in every state.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (Massachusetts vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in Massachusetts reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our editorial team. Full sources and formulas: our methodology.
Massachusetts mortgage FAQ
What is a good mortgage rate in Massachusetts right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, Massachusetts's conventional buyers paid a median 6.50%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in Massachusetts than in other states?
No, if anything slightly lower, once timing and fees are counted. In 2025 HMDA records, Massachusetts's median conventional 30-year rate was 6.50%, against 6.50% nationally.
Against the benchmark for each loan's lock week, which counts points and fees, Massachusetts loans priced 0.05 percentage points below it (the 10th-lowest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in Massachusetts?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, Massachusetts's jumbo buyers paid a median 6.45%. A loan is jumbo above the $832,750 conforming limit, or above $1,249,125 in Massachusetts's highest-cost counties.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $559,920 loan (20% down on Massachusetts's median list price), a 30-year at 7.18% costs $3,793 a month and a 15-year at 6.57% costs $4,899.
The 15-year saves about $483,680 in interest but needs $1,106 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $559,920 loan (20% down on Massachusetts's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $3,793 to $4,179, or $386 a month.
Over 30 years that is about $138,916 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, Massachusetts's conventional rate-and-term refinances closed at a median 6.25% and purchases at 6.50%, partly because refinances bunch up when rates dip. Refinances priced 0.10 percentage points below the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a $400,000 mortgage at 7.18% interest?
About $2,710 a month in principal and interest over 30 years. In Massachusetts, a $500,000 home with that loan adds roughly $450 a month in property tax at the 1.08% effective rate, plus homeowners insurance. Over 30 years the loan costs about $575,506 in interest.
How much income do I need to buy a home in Massachusetts?
About $197,000 a year for a home at the $699,900 median list price with 20% down, if the full $4,586 monthly payment, including tax and insurance, stays within 28% of gross income.
Smaller down payments add mortgage insurance and raise that figure; existing debts lower what lenders approve.
What down payment assistance is available in Massachusetts?
MassHousing, the state housing finance agency, runs MassHousing Down Payment Assistance, offered through participating lenders. Help usually comes as a grant or a deferred or forgivable second loan paired with the agency's first mortgage.
Amounts, income limits and funding change during the year, so confirm current terms with MassHousing or a participating lender before you apply.
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.