Massachusetts Mortgage Rates - September 2026
Brian McKay
Brian McKay
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Current 30-year fixed mortgage rates in Massachusetts include Institution for SavingsInstitution for Savings112 County Rd, Amesbury, MA, 01913A+5.0 ★Texas Ratio: 0.22% at 5.50%, Florence BankFlorence Bank1 Main St, Amherst, MA, 01002A+5.0 ★Texas Ratio: 2.70% at 5.62%, Commonwealth Co-operative BankCommonwealth Co-operative Bank1172 River St, Boston, MA, 02108A+5.0 ★Texas Ratio: 2.29% at 5.99%, First Citizens Federal Credit UnionFirst Citizens Federal Credit Union1341 COVE RD, East Wareham, MA, 02538A+5.0 ★Texas Ratio: 1.15% at 6.00%, and St Annes Credit UnionSt Annes Credit Union130 High St, Dartmouth, MA, 02719 3090A+5.0 ★Texas Ratio: 1.33% at 6.12%. Mortgage rates as of September 21, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare mortgage rates across all loan types in Massachusetts side-by-side. Massachusetts mortgage rates currently start as low as 5.50% from Institution for Savings at 112 County Rd, Amesbury, MA, 01913. Rates are continually updated, so we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to Massachusetts borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: September 21, 2026
Compare Mortgage Rates Today in Massachusetts
Massachusetts 30 Year Fixed Mortgage Rates
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Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Up to 89% financing with no mortgage insurance required.
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Term: 30-Year Fixed Rate With No LLPA's
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11% Down1; Special Offer; Composite APR includes prepaid finance charges such as, $88.00 Tax Service Fee, $80.00 Hazard Tracking Fee, $14.50 Flood Certificate Fee, and $200.00 Employment/Income Verification Fee.
20% Down; Max. Loan Amount: See note 1
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CAPS: N/A
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CAPS: N/A
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As low as
Rates, terms, and fees as of 9/18/2026 10:15 AM Eastern Daylight Time and subject to change without notice. Select a product to view important disclosures, payments, assumptions, and APR information. Please note we offer additional home loan options not displayed here.
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Caps: N/A
Owner Occupied Only
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Massachusetts 15 Year Fixed Mortgage Rates
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Add .25% for loans less than $100,000. Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Rates are effective as of September 17, 2026. ALL Rates and APR shown are starting rates for purchase or refinance of 1-4 family owner-occupied properties in Massachusetts only. Final Rates will depend on the borrower's credit, debt-to-income, loan-to-value, property type and refinance features when applicable. APR's for Home Equity Lines of Credit assume lines are fully drawn at origination. All Home Equity Lines are structured for a 15 year draw period plus a 15 year repayment period. Rate and APR information is based on the example of a $100,000 loan at 60% Loan-To-Value (LTV) with a minimum FICO of 740.
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Rates are effective September 17, 2026 and are subject to change at any time. Rates apply to Conforming mortgages and must meet secondary market guidelines. Conforming Purchase loan sizes up to $806,500.00 on one-unit properties. Conforming rates and APR based on $806,500.00 Purchase loan amount with FICO credit scores of 740 and loan to value no greater than 75%. Sample Rates are shown. Rates are based on certain factors including loan amount, creditworthiness, loan-to-value (LTV), loan purpose, etc., and your rate may be higher. Additional loan programs are available.
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Rates and APRs effective August 3, 2026 and are subject to change without notice. Rates, APR, payments, and fees are based on 25% down payment and excellent credit history. Your actual interest rate, APR, payment, and fees may be different than what is displayed here and will be based on several factors, including but not limited to: your credit history, property type, and transaction type. All mortgages and home equity loans require property insurance.
20% Down; Max. Loan Amount: See note 1
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20% Down; Max. Loan Amount: See note 1
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As low as
Get peace of mind with predictable monthly payments. Both traditional and short-term options available. As low as 6.250%
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w/ 0.750 Points; Payment: 2,057.81 *; Rate as low as
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Rates, terms, and fees as of 9/18/2026 10:15 AM Eastern Daylight Time and subject to change without notice. Select a product to view important disclosures, payments, assumptions, and APR information. Please note we offer additional home loan options not displayed here.
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Massachusetts 5/1 ARM Mortgage Rates
Months 1-60 5.490% $567.16 Months 61-120* 7.490% $682.58 Months 121-360* 7.490% $685.96 *Future interest rates and payments are estimates based on the current index plus the margin (fully indexed rate) as of the effective date. Actual future rates and payments may be higher or lower. Interest rate is fixed for the first five years. After the initial fixed-rate period, the interest rate and monthly payment may change every five years based on an index plus a margin, subject to applicable rate caps. Interest rate and APR are based on a $100,000 loan amount, 15 days prepaid interest, owner-occupied property, and financing up to 90% of the home's value with no private mortgage insurance required. Purchases and refinances are eligible, including cash-out refinances. Payments include principal and interest only. Taxes, homeowners insurance, flood insurance, private mortgage insurance (if applicable), and escrow amounts are not included. Actual monthly payment may be higher.
with closing costs
Enjoy a low initial rate that adjusts with the market. Various terms and options available. As low as 5.625%
See all adjustable Rate mortgages
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Term: 5 years fixed, then adjusts every six months; Assumes an 80% LTV, a 740 credit score, zero points paid, and a loan amount of $200,000. This rate is a discounted rate and will increase in the future. In year six it would adjust to 6.75% and remain at 6.375% for the remainder of the loan if nothing changes. A rate 6.375% of has a payment per thousand of $6.24. These payments do not include property taxes or homeowners insurance so your payment will be higher. Membership is required, and members must open and maintain a deposit account with a deposit balance of $5.00. We lend within a limited area; please consult your Loan Officer to confirm whether your loan meets membership requirements. Tremont Credit Union acts as a loan broker in some cases. Tremont Credit Union may or may not be the lender of record or loan servicer for a loan.
Fully Indexed Rate: 6.250%
Adjustable Rate Mortgage (ARM) rates may increase after 5 years and every 5 years thereafter. Rate increases are capped at 2% each adjustment period and 6% for the life of the loan. Rates are effective as of September 17, 2026. ALL Rates and APR shown are starting rates for purchase or refinance of 1-4 family owner-occupied properties in Massachusetts only. Final Rates will depend on the borrower's credit, debt-to-income, loan-to-value, property type and refinance features when applicable. APR's for Home Equity Lines of Credit assume lines are fully drawn at origination. All Home Equity Lines are structured for a 15 year draw period plus a 15 year repayment period. Rate and APR information is based on the example of a $100,000 loan at 60% Loan-To-Value (LTV) with a minimum FICO of 740.
fixed for the first 5 years then adjusts every 6 months to the 30-day average SOFR index plus 3.00%. Minimum 700 FICO score required. Maximum 45% maximum debt to income ratio. Payment does not include taxes and insurance premiums therefore payment obligation will be greater. Real Estate Taxes and Property insurance is required. Flood insurance where required by law. Borrower responsible for real estate taxes and property insurance.
The APR may increase during the life of the loan. At the time of an interest rate change, the new interest rate will be determined by adding the Index at the time (1 Year Constant Maturity Treasury weekly average rate) to the Margin (2.75%), rounded to the nearest one-eighth percentage point. Each interest rate adjustment is limited to 2% from the current interest rate, with a total adjustment over the life of the loan, limited to 6% from the original Note rate. Payment amounts shown do not include real estate taxes and insurance premiums, if applicable, and that the actual payment obligation will be greater. For investment properties, add 0.50% to the interest rate.
Months 1-60 6.000% $599.55 Months 61-360* 6.859% $665.13 *Future interest rates and payments are estimates based on the current index plus the margin (fully indexed rate) as of the effective date. Actual future rates and payments may be higher or lower. Interest rate is fixed for the first five years. After the initial fixed-rate period, the interest rate and monthly payment may change every five years based on an index plus a margin, subject to applicable rate caps. Interest rate and APR are based on a $100,000 loan amount, 15 days prepaid interest, 20% down payment/equity, and owner-occupied 1-4 family property. Owner-occupied 1-4 family properties with loan-to-value ratios over 80% require private mortgage insurance. No cash-out refinances over 80% loan-to-value are available for this product. Payments include principal and interest only. Taxes, homeowners insurance, flood insurance, private mortgage insurance (if applicable), and escrow amounts are not included. Actual monthly payment may be higher.
Months 1-60 6.000% $599.55 Months 61-360* 7.125% $665.13 *Future interest rates and payments are estimates based on the current index plus the margin (fully indexed rate) as of the effective date. Actual future rates and payments may be higher or lower. Interest rate is fixed for the first five years. After the initial fixed-rate period, the interest rate and monthly payment may change annually based on an index plus a margin, subject to applicable rate caps. Interest rate and APR are based on a $100,000 loan amount, 15 days prepaid interest, 20% down payment/equity, and owner-occupied 1-4 family property. Owner-occupied 1-4 family properties with loan-to-value ratios over 80% require private mortgage insurance. No cash-out refinances over 80% loan-to-value are available for this product. Payments include principal and interest only. Taxes, homeowners insurance, flood insurance, private mortgage insurance (if applicable), and escrow amounts are not included. Actual monthly payment may be higher.
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Fully Indexed Rate: 6.375%; Loan Amount: Up to $832,750
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Months 1 - 60
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Months 1 to 60; Margin: 2.875%; Index: 4.05%
Fully Indexed Rate: 7.000%
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30-year term/amortization; The advertised rates are for conforming loans with a loan example of $450,000 and are based on the loan characteristics noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.; Closing Fees: Yes
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Term: First 60 months, Next 300 months; Rate Change Caps: 2% / 2% / 5%; Margin/index: 2.75% / 4.24%
Rate Caps: 2%/2%/5%; Fully Indexed Rate: 6.740%
NY ONLY - APR*: 6.375%
no closing costs
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60 [email protected] %; 12 [email protected]%; 287 [email protected]%; 1 [email protected]%; Margin: 2.750%; Monthly Payments: 360; Payments Per $1,000 (Fully Indexed): 60@$5.60; 12@$6.60; 287@$6.60; 1@$6.61
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2/5 Caps
Initial Interest Rate Period: 5 Years
ARM terms available.; 5/1 ARM- Your interest rate under this ARM can change after 60 months and every 12 months thereafter. Your interest rate cannot increase or decrease more than 5 percentage points at first adjustment and 2 percentage points per subsequent adjustment from the initial interest rate excluding any buydown. Your interest rate will never be greater than 5 percentage points above the initial interest rate or lower than 2.75%.
Term: 60 monthly payments of: then 299 monthly payments of: and 1 payment of:
Fully Indexed Rate: 7.125%
caps 2/2/6 repayment schedule based on 30 years
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Caps: 1/1/5; Fully Indexed Rate: 7.125%
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Index: 1 YR Treasury; Cap: 2/6; Margin: +2.75%
Index: 1 YR Treasury; Cap: 2/6; Margin: +2.750%
Your Mortgage Journey
Massachusetts 30-Year Jumbo Mortgage Rates
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Loans up to $2Million
Fully Indexed Rate: 6.375%; Loan Amount: $832,751 to $2,000,000
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Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Fully Indexed Rate: 6.375%
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Term: 10/1 Years (30 Years); Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
caps 2/2/6 repayment schedule based on 30 years
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Term: 7/1 Adjustable CAP 2/4 Index 1 YR Treasury + 2.75% Margin + 3.00% Margin (Jumbo); Rate: Index 1 YR Treasury + 2.75% Margin + 3.00% Margin (Jumbo)
Payments per thousand do not include taxes and insurance. Your actual monthly payment will be higher.
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Fully Indexed Rate: 6.375%; Loan Amount: $832,751 to $2,000,000
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20% Down; Max. Loan Amount: See note 2
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up to $2; 30-year term/amortization; The advertised rates are for conforming loans with a loan example of $900,000 and are based on the loan characteristics noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
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Term: JUMBO 30-Year Fixed Rate
Rates Effective: 09/18/2026. Loan amounts from $832,751- $2,000,000. Minimum Loan amount listed for is single family home or condo. Minimum loan amount for 2-family home is $1,066,251; 3-family is $1,288,801; 4-family is $1,601,751.
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up to $2; 30-year term/amortization; The advertised rates are for conforming loans with a loan example of $900,000 and are based on the loan characteristics noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
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Caps 2/6 - Margin 2.875; Year 1-7, rate 6.000%, 84 payments of $6.00; Year 8-30, rate 7.125%, 276 payments of $6.61
Caps 5/2/6 - Margin 2.875; Year 1-10, rate 6.250%, 120 payments of $6.16; Year 11-30, rate 7.125%, 240 payments of $6.59
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Finance higher-priced homes without a large down payment or multiple mortgages. As low as 6.875%
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Index: 1 YR Treasury; Margin: + 3.000%; Cap: 2/6
Index: 1 YR Treasury; Margin: +3.000%; Cap: 2/6
Term: 7/1 Adjustable CAP 2/4 Index 1 YR Treasury + 2.75% Margin + 3.00% Margin (Jumbo); Rate: Index 1 YR Treasury + 2.75% Margin + 3.00% Margin (Jumbo)
Index: 1 YR Treasury; Margin: + 3.000%; Cap: 2/6
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Index: 1 YR Treasury; Margin: + 3.000%; Cap: 2/6
Term: JUMBO 30-Year Fixed Rate With No LLPA's
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Fully Indexed Rate: 6.375%
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w/ 1.000 Points; Payment: 5,298.14 **; Rate as low as
Massachusetts 15-Year Jumbo Mortgage Rates
Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Massachusetts 5/1 Jumbo ARM Mortgage Rates
Fully Indexed Rate: 6.375%; Loan Amount: $832,751 to $2,000,000
Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Fully Indexed Rate: 6.375%
caps caps 2/2/6 repayment schedule based on 30 years
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up to $2; 30-year term/amortization; The advertised rates are for conforming loans with a loan example of $900,000 and are based on the loan characteristics noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
Caps 2/6 - Margin 2.75; Year 1-5, rate 5.625%, 60 payments of $5.76; Year 6-30, rate 7.000%, 300 payments of $6.55
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Index: 1 YR Treasury; Cap: 2/6; Margin: +3.00%
up to $2; 30-year term/amortization; The advertised rates are for conforming loans with a loan example of $900,000 and are based on the loan characteristics noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
Index: 1 YR Treasury; Margin: +3.000%; Cap: 2/6
Index: 1 YR Treasury; Margin: +3.000%; Cap: 2/6
Index: 1 YR Treasury; Margin: +3.000%; Cap: 2/6
Yrs 1-5; Composite APR includes prepaid finance charges, such as points, as well as the following additional fees: $88.00 Tax Service Fee, $80.00 Hazard Tracking Fee, $600.00 Processing Fee, $14.50 Flood Certificate Fee, and $200.00 Employment/Income Verification Fee.
Yrs 1-5; Composite APR includes prepaid finance charges such as $88.00 Tax Service Fee, $80.00 Hazard Tracking Fee, $600.00 Processing Fee, $14.50 Flood Certificate Fee, and $200.00 Employment/Income Verification Fee. Rates may increase after consummation. Subject to credit and property approval. Hazard insurance is required. Flood insurance may be required. Property must be 1 to 4-family owner-occupied. Maximum loan-to-value varies based on property, number of units, and product. Loans over 80% LTV will require PMI approval. Amount of PMI varies.
Massachusetts FHA Loan Rates
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Massachusetts VA Loan Rates
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Rates, terms, and fees as of 9/18/2026 10:15 AM Eastern Daylight Time and subject to change without notice. Select a product to view important disclosures, payments, assumptions, and APR information. Please note we offer additional home loan options not displayed here.
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Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
Massachusetts Mortgage Rate Trends
Compare local Massachusetts mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
Massachusetts 30-year fixed rates fell 0.019 points over the past 7 days to 6.669%.
Massachusetts 15-year fixed rates rose 0.073 points over the past 7 days to 6.378%.
Massachusetts Mortgage Rate Forecast, Next 12 Months
Where are Massachusetts mortgage rates headed through September 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for Massachusetts Home Buyers
Monthly principal & interest payment on Massachusetts median home of $562,100 (20% down, 30-year fixed, state-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (MA avg) | 6.669% | $2,892 | — | 33.4% |
| 6-Month Forecast | 6.669% (6.32–6.97%) | $2,892 | +$0/mo | 33.4% |
| 12-Month Forecast | 6.919% (6.57–7.22%) | $2,967 | +$75/mo | 34.3% |
Income column = annual mortgage payment as % of Massachusetts median household income ($103,960). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for Massachusetts , updated every night from live mortgage rates across our monitoring network combined with U.S. Census Bureau income, home value, and cost burden data.
What This Score Means for Massachusetts Home Buyers
With a score of 77.0, Massachusetts is 21.3 points less affordable than the national average of 98.3. Massachusetts ranks #49 out of 51 states for affordability, among the more expensive states relative to income.
The index reflects the current Massachusetts 30-year mortgage rate of 6.669% combined with Census median home values, household income, property taxes, and cost burden data. A 0.25% rate change shifts the score by approximately 0.8-1.0 points, meaning today’s rate environment directly impacts how affordable homeownership is relative to local incomes across Massachusetts.
Scores update each morning, computed from rate data captured the previous night. Computed from live mortgage rates across FDIC-insured banks and NCUA-chartered credit unions, combined with U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025. Score of 100 = national average at 6.5% reference rate. Full methodology →
How Mortgage Rates Impact Home Affordability in Massachusetts
Massachusetts Housing Market Overview
According to the U.S. Census Bureau, the median owner-occupied home value in Massachusetts is approximately $562,100. The 2026 FHFA conforming loan limit for Massachusetts is $832,750.
Massachusetts Homeownership Rate
The homeownership rate in Massachusetts stands at 62.3%, near the national average of 65.7%. The homeowner vacancy rate of 0.7% signals a tight market with limited available inventory, making it critical to secure the best possible rate quickly when a suitable property becomes available.
Monthly Payment Estimates for Massachusetts Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $450,000 mortgage, based on a 20% down payment on the Massachusetts median home value.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.169% | 30-year fixed | $2,747 | $538,943 |
| 6.669% Current Avg | 30-year fixed | $2,895 | $592,021 |
| 7.169% | 30-year fixed | $3,045 | $646,239 |
| 6.378% | 15-year fixed | $3,890 | $250,176 |
A 0.500% rate increase on a $450,000 loan adds roughly $151 per month and over $54,218 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders, using the rate table above, is one of the most impactful financial decisions a Massachusetts buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only; taxes, insurance, and PMI not included.
Massachusetts Income & Housing Affordability
At a price-to-income ratio of 5.4x, Massachusetts is a moderately expensive housing market. That ratio, median home value divided by median household income, is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for Massachusetts Buyers
With a median household income of $103,960 per year in Massachusetts ($8,663/month) and a median home value of approximately $562,100, a buyer financing at 80% LTV at the current average rate would commit roughly 33.4% of gross monthly income to principal and interest alone. That places most buyers above the 30% threshold housing economists use to define "cost burdened", before taxes, insurance, HOA fees, or PMI are factored in.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in Massachusetts
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home across Massachusetts. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
Across Massachusetts, the median homeowner with a mortgage pays approximately $2,125/month in total housing costs, covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $1,762/month including utilities. The $363/month difference between owning and renting is relatively narrow, worth factoring carefully into a rent vs. buy analysis given that owners also build equity over time. Property taxes alone account for $507/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
Across Massachusetts, 30% of homeowners with mortgages are cost burdened and 49.4% of renters are cost burdened. Renters face significantly higher burden rates than owners, a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 30% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
Massachusetts Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s Massachusetts rates. The home price is prefilled with the local median home value. Adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your Massachusetts Home Loan
Rates are only part of the equation. Use these calculators to translate current Massachusetts mortgage rates into real numbers for your specific situation before you talk to a lender.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Massachusetts rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your intended time horizon in Massachusetts.
CalculateTypes of Mortgages Available in Massachusetts
Borrowers in Massachusetts have access to a wide range of mortgage programs. Rates, down payment requirements, and eligibility rules vary significantly across products. Understanding the differences before you compare lenders can save thousands of dollars over the life of your loan.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s Massachusetts rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15%–0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment, given ongoing home price trends in Massachusetts, FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% of the loan for first-time VA borrowers with no down payment, which can be financed into the loan. In Massachusetts, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
Conforming loan limits in Massachusetts vary by county. The 2026 FHFA baseline is $832,750 for most counties, with higher limits in designated high-cost areas. Any mortgage exceeding the applicable county limit is a jumbo loan and falls outside Fannie Mae and Freddie Mac guidelines.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10–20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Massachusetts mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for Massachusetts directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Massachusetts. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in MA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
How a Mortgage Works in Massachusetts
A mortgage is a loan used to buy a home in Massachusetts, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed-Rate vs. Adjustable-Rate Mortgages for Massachusetts Buyers
A fixed-rate mortgage keeps the same interest rate for the entire term, so a Massachusetts homeowner’s principal-and-interest payment never changes. For example, Institution for Savings is listing a First-Time/Affordable Homebuyer Loan - 30 Year Fixed at 5.50%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit Massachusetts borrowers who expect to move or refinance before that point. On the adjustable-rate side, Alden Credit Union is listing a No Boundary Plus 5/5 ARM at 5.49%.
How Massachusetts Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a Massachusetts borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs in Massachusetts
The interest rate is not the only cost of buying a home in Massachusetts. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps Massachusetts shoppers account for these costs when weighing lenders.
When Massachusetts Homeowners Should Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For Massachusetts homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up. Current Massachusetts refinance rates from local lenders are listed on our refinance page.
Frequently Asked Questions about Mortgage Rates in Massachusetts
How does my credit score affect my rate in Massachusetts?
What is a 30-Year Fixed Mortgage?
What are closing costs in Massachusetts?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in Massachusetts?
Do I need 20% down to buy a house in Massachusetts?
What is the difference between Interest Rate and APR?
How do I find the best lender in Massachusetts?
What is the median home value in Massachusetts?
What is the homeownership rate in Massachusetts?
What is the conforming loan limit in Massachusetts?
What is the median monthly cost of homeownership in Massachusetts?
What are the median property taxes in Massachusetts?
What is the median rent in Massachusetts?
What percentage of homeowners are cost burdened in Massachusetts?
What percentage of renters are cost burdened in Massachusetts?
What are the best Mortgage rates in Massachusetts?
- Institution for Savings: 5.50% (First-Time/Affordable Homebuyer Loan - 30 Year Fixed)
- Florence Bank: 5.62% (Welcome Home - 30-Year Fixed Rate)
- Commonwealth Co-operative Bank: 5.99% (Mortgage Rates - 30 Year Fixed)
- First Citizens Federal Credit Union: 6.00% (30-Year Fixed)
- St Annes Credit Union: 6.12% (30-Year Fixed Rate Mortgage)
Massachusetts Rates & Resources
Mortgage Rates by City in Massachusetts
