Compare today’s Massachusetts mortgage rates |

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Mortgage rates in Massachusetts

They tend to be lower than the national average.

Editor's choice: Beeline(NMLS #1799947)

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Mortgage rates during the coronavirus

As mortgage rates fall to record lows in the wake of COVID-19, our partners are seeing an increase in demand for loans and refinancing. As they work through this influx of applications, you may see rates that are higher than expected — or no rates at all. We recommend comparing offers from multiple lenders to ensure you're getting the best deal possible.

Compare mortgage lenders in Massachusetts

30-year mortgage rates average 4.589% in the Bay State and should trend just below 4% into 2020.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

How much do Massachusetts rates vary?

30-year mortgage rates averaged from 4.545% to 4.678% in 2018. Several considerations, such as loan term, go into calculating your rate. For instance, 15-year mortgages typically have a lower rate than a 30-year loan.

2018 average rates in Massachusetts by loan type

Loan type15-year average rate30-year average rate

Based on data from

Say you borrow $275,000 with a 30-year conventional loan, with monthly payments of $1,403, excluding taxes and other charges specific to your mortgage. On the other hand, if you selected a 15-year mortgage, your monthly payment might be around $1,953.

While a 15-year mortgage has higher monthly payments, you could save $153,505 in interest over the life of the loan compared to the 30-year option.

That’s a huge savings if you’re able to pay a bit more on your mortgage monthly.

Mortgage rates in Massachusetts will likely hover below the 4% mark in 2020.

Generally, mortgage rates in Massachusetts trend below the national average. In 2018, rates in Massachusetts were 0.23% lower than the national average, and 0.17% lower in 2017.

US housing authorities are predicting mortgage rates to range between 3.55% and 3.90% in 2020. Rates in Massachusetts will likely trend at or below those levels.

Compare mortgage rates throughout Massachusetts

Each geographic area of Massachusetts may have slightly different average rates and loan amounts.

We gathered data from the Home Mortgage Disclosure Act and calculated the estimated monthly payment of the average 30-year fixed rate throughout Massachusetts.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Barnstable Town4.514%$315,000$1,600
Boston MSA (Norfolk, Plymouth and Suffolk Counties, MA)4.533%$385,000$2,000
Boston MSA (Essex and Middlesex Counties, MA)4.545%$395,000$2,010
Providence MSA (Bristol County, MA)4.696%$275,000$1,430
Worcester MSA (Worcester County, MA)4.706%$245,000$1,270

The estimated amounts don’t include taxes or fees specific to your mortgage.
Based on data from

How to get the best mortgage rate in Massachusetts

Implement these strategies to get the best rate possible for your next loan.

  1. Research loan products. Different loan programs may come with different rates. Look at all available options to see which one best fits your needs.
  2. Hone in on your credit. Lenders usually give the best rates to borrowers with good to excellent credit. Take a few months to pay off any debt, which can increase your credit score and might qualify you for a better rate.
  3. Include closing costs. Sometimes lenders will charge a low rate, then pile on the fees at closing. Massachusetts closing costs average about 0.77% to 0.97% of the final purchase price. Have a clear picture of the total cost of the loan by calculating lender fees.

Historical mortgage interest rates in Massachusetts

Bottom line

Even though rates in The Bay State usually come in lower than the national average, lenders set their own rates. Keep an eye on the national averages and compare home loans and lenders to find the right mortgage for you.

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