Mortgage Rates Massachusetts for June 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: 0.11% at 4.99%, First Citizens Federal Credit UnionFirst Citizens Federal Credit Union1341 COVE RD, East Wareham, MA, 02538A+5.0 ★Texas Ratio: 2.19% at 5.00%, Florence BankFlorence Bank1 Main St, Amherst, MA, 01002A+5.0 ★Texas Ratio: 4.08% at 5.62%, Marblehead BankMarblehead Bank1 Humphrey St, Beverly, MA, 01915A+5.0 ★Texas Ratio: 1.28% at 5.99%, and Savings Bank Wakefield, MASavings Bank Wakefield, MA1105 Summer St, Andover, MA, 01810A+5.0 ★Texas Ratio: 2.32% at 5.88%. Mortgage rates as of June 16, 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 4.99% from Institution for Savings at 112 County Rd, Amesbury, MA, 01913. Rates are continually updated — 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: June 16, 2026
Compare Mortgage Rates Today in Massachusetts
Massachusetts 30 Year Fixed Mortgage Rates
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20% Down; Maximum Loan Amount: See note 1
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20% Down; Maximum Loan Amount: See note 1
11% Down1; Reduced closing costs.
20% Down; Maximum Loan Amount: See note 1
Fully Indexed Rate: N/A; Monthly Principal and Interest Payment per $1,000 Borrowed*: $6.00; Monthly Principal and Interest Payment per $1,000 After First Adjustment*: N/A
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Effective 6/16/2026; Annual Percentage Rate is based on a $150,000 loan amount; Rates are subject to increase after consummation/first adjustment; Down Payment Requirements: 20% down payment is required; less than a 20% down payment will require PMI Insurance; less than a 30% down payment will require real estate tax escrow; APR will vary depending on term.
20% Down; Maximum Loan Amount: See note 2; Property must be located in TSB's CRA area: Andover, Lawrence, Lynnfield, Melrose, Methuen, Middleton, North Reading, Reading, Saugus, Stoneham, Wakefield, and Wilmington. Jumbo Loan minimum FICO score of 700.
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Rate Lock Guarantee; 120 calendar day rate lock guarantee; Subject property must be located within Hampden, Hampshire or Franklin County of Massachusetts; maximum loan amount $766,550, loan to value ratio (LTV) of 95% or less, Private Mortgage Insurance (PMI) required if the LTV is more than 80%, and a minimum credit score of 680. Rates and fees may vary based upon your credit profile, property type, and/or LTV. Account subject to credit approval. Rates current as of 06/15/2026 and are subject to change. Homeowners' (and flood if applicable) insurance is required. Repayment example: $5.92 per $1,000 borrowed for 360 months. Payments do not include amounts for taxes and insurance, the actual payment will be greater. To guarantee 120 calendar day rate lock, a qualifying property must be identified and mortgage application submitted by the 75th calendar day from the date of the rate lock agreement. Only available on certain mortgage products.
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As Low As; Whether you're in the market for your first home, trading up to a new one, or getting ready to downsize, we have a mortgage to match.
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Massachusetts 15 Year Fixed Mortgage Rates
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20% Down; Maximum Loan Amount: See note 1
20% Down; Maximum Loan Amount: See note 1
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As Low As
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Rates include 0.125% autopay and paperless discount. Estimated Monthly Payment: $2,511.36. The information provided assumes the purpose of the loan is to refinance the existing mortgage, with a loan amount of $300,000 and an estimated property value of $400,000. The property is located in Columbus, OH and is within Franklin county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740. At a 5.875% interest rate, the APR for this loan type is 6.013%. The monthly payment schedule would be: 179 payments of $2,511.36 at an interest rate of 5.875%, 1 payment of $2,510.53 at an interest rate of 5.875%. Rates listed above are for conforming refinance loans, are effective as of 06/15/2026 9:08 AM CT and subject to change at anytime. Rates include a 0.125 percentage point reduction which requires a Citizens consumer checking account set up at time of loan origination with automatic monthly payment deduction. One offer per property. Not applicable to Bond or CRA loans. Other restrictions may apply.
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Jumbo
Assumptions apply. Rate may differ based on unique circumstances. Ask about additional loan programs and rates.
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Massachusetts 5/1 ARM Mortgage Rates
with closing costs
2/5 Caps
Fully Indexed Rate: 6.625%; Monthly Principal and Interest Payment per $1,000 Borrowed*: $5.22 (60 payments); Monthly Principal and Interest Payment per $1,000 After First Adjustment*: $6.25 (300 payments)
Rates and APRs effective October 3, 2025 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. Adjustable Rate Mortgages (ARM): rates may be subject to increase after consummation. ARM terms available. 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%.
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60 monthly payments of $5.60, 300 monthly payments of $6.91
Fully Indexed Rate: 6.625%
Fully Indexed Rate: 6.375%
Rate may adjust every year. Lifetime rate cap of 6.00% above intro rate. Advertised rate is discounted 0.125% for automatic payments from your Trustco Bank deposit account. The initial 60 monthly payments will be $5.68 per $1,000 borrowed. After initial five year period, Trustco may adjust its mortgage rate every 12 months thereafter based on variable 1-Year Constant Maturity Treasury reported weekly (currently 3.750%) + 3.00% margin over the life of the loan rounded to the nearest .125%, with a maximum increase of 2.00% per period. Rate current as of 6/4/2026. Based on the current fully indexed rate, the rate will be 6.750% the monthly payments will be $6.39 per $1,000 borrowed. Payments do not include amounts for taxes and insurance premiums. Actual payment will be greater. Rate applies to new purchases and refinances only. The APR and payments may be increased after consummation.
Adjustable-Rate Mortgages
First 60 Months
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Rate Caps: 2%/2%/5%; Fully Indexed Rate: 6.340%
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no closing costs
Fully Indexed Rate: 6.625%
Months 1 - 60; Months 61 - 360
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Initial Fixed Term: 60 months; Remaining Adjustable Term: 300 months; Fully Indexed Rate: 6.875%
Fully Indexed Rate %: 7.000%
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Massachusetts 30-Year Jumbo Mortgage Rates
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$832,751 to $2,000,000; Fully Indexed Rate: 6.375%
20% Down; Maximum Loan Amount: See note 2; Property must be located in TSB's CRA area: Andover, Lawrence, Lynnfield, Melrose, Methuen, Middleton, North Reading, Reading, Saugus, Stoneham, Wakefield, and Wilmington. Jumbo Loan minimum FICO score of 700.
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$832,751 to $2,000,000; Fully Indexed Rate: 6.375%
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Massachusetts 15-Year Jumbo Mortgage Rates
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Massachusetts 5/1 Jumbo ARM Mortgage Rates
Up to $2,000,000; Fully Indexed Rate: 6.375%
Jumbo
Massachusetts FHA Loan Rates
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Assumptions apply. Rate may differ based on unique circumstances. Ask about additional loan programs and rates.
Massachusetts VA Loan Rates
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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 rose 0.046 points over the past 7 days to 6.379%.
Massachusetts 15-year fixed rates fell 0.023 points over the past 7 days to 5.945%.
Massachusetts Mortgage Rate Forecast — Next 12 Months
Where are Massachusetts mortgage rates headed through June 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) | 6.379% | $2,807 | — | 32.4% |
| 6-Month Forecast | 6.379% (6.03–6.68%) | $2,807 | +$0/mo | 32.4% |
| 12-Month Forecast | 5.979% (5.63–6.28%) | $2,690 | -$117/mo | 31.1% |
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 77.7, Massachusetts is 22.5 points less affordable than the national average of 100.3. 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 6.379% 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 |
|---|---|---|---|
| 5.879% | 30-year fixed | $2,663 | $508,705 |
| 6.379% Current Avg | 30-year fixed | $2,809 | $561,093 |
| 6.879% | 30-year fixed | $2,957 | $614,658 |
| 5.945% | 15-year fixed | $3,784 | $231,120 |
A 0.500% rate increase on a $450,000 loan adds roughly $149 per month and over $53,565 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 32.4% 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.
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 4.99%. 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, Taupa Lithuanian Federal Credit Union is listing a 5/1 Year ARM at 5.25%.
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.
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: 4.99% (First-Time/Affordable Homebuyer Loan* 30 Year Fixed)
- First Citizens Federal Credit Union: 5.00% (30-Year Fixed)
- Florence Bank: 5.62% (Welcome Home - 30-Year Fixed Rate)
- Marblehead Bank: 5.99% (30-Year Fixed Rate Mortgage)
- Savings Bank Wakefield, MA: 5.88% (30-Year Fixed)
Mortgage Rates by City in Massachusetts
