Today's Mortgage Rates in Massachusetts

Enter your ZIP code to get started


Free. Simple. Secure.

fact checked icon

Updated: July 16, 2024

Advertising & Editorial Disclosure

Today's 30-year mortgage rate in Massachusetts stands at 6.78%, reflecting the national average rate of 6.90% for the same mortgage category. In Massachusetts, homebuyers have access to supportive programs such as Down Payment Assistance and MI Plus that might help ease their mortgage costs.

With a grasp on the current average rate for a 30-year fixed-rate mortgage in Massachusetts, you're equipped to dive deeper into specifics. We'll help you explore how rates may vary based on loan type and your credit score, break down the differences between interest rate and APR and give insights into different mortgage structures. You'll find information on lenders and mortgage programs tailored to the Massachusetts market, all aimed at supporting you in making an educated home financing decision.

MoneyGeek uses publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for Massachusetts. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources.

Unless specifically noted otherwise, rates featured in content are annual percentage rates (APRs).

recency icon

This data was last updated on July 2, 2024.

Current Mortgage Rates in Massachusetts

In July 2024, the average APR for a 30-year fixed-rate mortgage in Massachusetts is 6.78%, up from 6.46% just a month earlier. With a $250,000 home loan and a 20% down payment, the latest current mortgage rate could influence your budget, with an uptick leading to an additional $15,229 in interest compared with the previous month's total interest, not accounting for other expenses like property taxes or HOA fees.

Current Mortgage Rates in Massachusetts (Jan to May)

Understanding the current mortgage rate in Massachusetts can help you budget as rates often adjust due to market conditions and economic announcements. Our line chart indicates the trend of these rates in recent months, directly affecting your monthly payments.

Who Needs to Know Today's Mortgage Rates in Massachusetts?

Prospective homeowners and those looking to refinance will find today's mortgage interest rates in Massachusetts particularly useful in navigating the housing market:

    coupleG icon

    First-time homebuyers

    First-time homebuyers in Massachusetts can understand what mortgage rates to expect and determine if the rates they receive are competitive.

    homeowner icon

    Homeowners with mortgages

    Homeowners can compare current Massachusetts mortgage rates with their own, potentially prompting a mortgage refinance for savings.

Purchase rates often differ from refinance rates — this impacts the cost of your loan. In Massachusetts, the current mortgage rate for a 30-year fixed mortgage if you're buying a home is 6.78%, while the refinance APR for the same kind of loan sits higher at 8.15%. This difference can affect your monthly payments and the total cost over the life of the loan.

Current Mortgage Rates in Massachusetts by Loan Type

A 30-year fixed-rate mortgage in Massachusetts comes with a higher interest rate than a 15-year fixed-rate mortgage. This difference exists because a lender faces more risk lending money for a longer term. A lot can change in 30 years — interest rates can go up or down, and the risk of not getting paid back is higher.

You might want to explore mortgage loan types in Massachusetts to find a fit for your financial needs. When you're ready to crunch numbers, a mortgage calculator is a handy tool that can help you understand your monthly payments and the impact of interest rates on your loan.

Data filtered by:Results filtered by:
Loan Type:
Loan Type:10-Year Fixed
mglogo icon

In a mortgage, the interest rate reflects how much you'll pay each year to borrow money — expressed as a percentage of the loan amount. If you're looking into a 30-year fixed-rate mortgage in Massachusetts, the average mortgage interest rate is currently 6.70%.

Understanding the APR, or annual percentage rate, is key — it represents the yearly cost of your loan including mortgage points and other fees, not just the mortgage interest rate. The average APR for a 30-year fixed-rate mortgage in Massachusetts is 6.78%, helping you understand the total cost per year.

Current Mortgage Rates in Massachusetts by Credit Score

In Massachusetts, if your credit score is 740 or above and you're putting down between 5% and 20%, the average APR for a 30-year fixed mortgage is 7.41%. Drop below a 680 credit score, and that rate goes up to an average APR of 8.10%.

Your credit score directly impacts the mortgage rates you can get in Massachusetts. Our interactive table lets you see the rates you might get based on your credit score and down payment amount:

Data filtered by:Results filtered by:
Credit Score Range:
Credit Score Range:680 - 740
Down Payment:
Down Payment:20% or higher
10-year FixedAPR6.08%
15-year FixedAPR6.24%
20-year FixedAPR6.91%
30-year FixedAPR7.16%
5-year ARMAPR7.83%
7-year ARMAPR7.66%

Mortgage Types in Massachusetts

In July 2024, 30-year fixed-rate VA loans have the lowest average APR for 30-year fixed rate mortgages in Massachusetts at 6.37%. Knowing the rates for different mortgage options can help you make an informed decision and possibly save money over the life of your loan. Check out the table below for a clear comparison of the mortgage loan types available in Massachusetts:

Mortgage Type
Impact on Rates
30-Year Rates in Massachusetts

Conventional Loans

A conventional loan is not insured or guaranteed by the government and is the standard mortgage.

The rate on a conventional loan can vary based on credit score and down payment amounts.


FHA Loans

An FHA loan is insured by the Federal Housing Administration, making it less risky for lenders.

Typically, FHA loans offer lower rates for buyers with lower credit scores or smaller down payments.


VA Loans

A VA loan is guaranteed by the Department of Veterans Affairs and is available to qualifying military members.

VA loans often come with competitive rates due to government backing, which reduces lender risk.


USDA Loans

USDA loans are offered to rural property buyers and are guaranteed by the United States Department of Agriculture.

USDA loans frequently offer below-market rates as they're designed to help stimulate rural development.

currently unavailable

Jumbo Loans

A jumbo loan exceeds the conforming loan limits set by the FHFA, suitable for more expensive properties.

Jumbo loans usually have higher rates as they involve larger sums and increased lender risk.


mglogo icon

Mortgage rates in Massachusetts come in two types: fixed and adjustable.

  • Fixed-rate mortgages lock you into a rate that won't change, offering a stable monthly mortgage payment.
  • Adjustable-rate mortgages often start lower and adjust with the market, providing the possibility of decreased payments.

As of July 2024, Massachusetts averages at 6.78% for a 30-year fixed and 7.48% for a seven-year ARM.

Mortgage Lenders in Massachusetts

Rocket, Bank of America and Lower are solid options if you're looking to secure a mortgage in Massachusetts. Each lender meets our criteria — they're all operational in the state, have Better Business Bureau ratings and offer programs to assist homeowners. This list isn't exhaustive; other lenders might fit your needs just as well or better.

The mortgage rate you secure in Massachusetts can vary based on the lender you choose. Different lenders will offer you distinct mortgage rates and loan terms. By comparing options from various lenders, you position yourself to snag the best deal available, ensuring you don’t miss out on a more favorable rate.

  • Rocket

    • 4Number of Mortgage Options
    • YesOnline Application
    • A+BBB Rating
    • Monday to Friday, 8:30 am to 9:00 pm ET Saturday, 9:00 am to 4:00 pm ETCustomer Service Hours

    Rocket is a mortgage lender offering products in Massachusetts, with options to fit different needs. Customers can choose from FHA and \conventional loans. The FHA loan requires a minimum credit score of 580 and a down payment of 3.5%. If a conventional loan fits better, expect the credit score requirement to be 620 with a minimum down payment of 3%. It provides support over the phone and chat to help answer questions. Customer service hours are Monday to Friday from 8:30 am to 9:00 pm ET, and Saturday from 9:00 am to 4:00 pm ET.

    It also participates in homeowners assistance programs including ONE+, HomeReady and HomePossible, with offerings like Freddie Mac BorrowSmart Access. These programs can be a pathway to homeownership for many, especially those seeking to put down less upfront or those who meet certain income qualifications. As a lender, it is committed to providing multiple entry points into the housing market, paired with support designed to guide borrowers through the process of choosing and applying for the right mortgage product.


    • Online prequalification enabled
    • Homebuyer programs with Fannie Mae, Freddie Mac
    • ONE+ program covers 2% downpayment




    • 5Number of Mortgage Options
    • YesOnline Application
    • A+BBB Rating
    • Monday to Friday, 9 am to 5 pm ETCustomer Service Hours

    Lower offers online mortgage services exclusively for Massachusetts residents. Available mortgage options include conventional and FHA loans, catering to a broad spectrum of borrowing needs. A 580 minimum credit score is required for these mortgages with the down payment details left undisclosed. Lower supports its customers with business hours from 9 am to 5 pm ET, Monday to Friday, and assists through phone and text channels.

    If you're looking to partner with Lower for your mortgage needs, you may also be interested to know they stand out as a top HELOC lender for most states. Additionally, Lower provides a homeowners assistance program named Buy Before You Sell, designed to support homeowners during their transition to a new property. This comprehensive suite of services and options makes it a noteworthy option for Massachusetts borrowers seeking to finance their home purchase.


    • Online prequalification available
    • Excellent BBB rating
    • Buy Before You Sell program offered


    • Limited mortgage product uniqueness
    • In-person support unavailable
    • Online application not fully virtual

  • Bank of America

    • 6Number of Mortgage Options
    • YesOnline Application
    • ABBB Rating
    • Monday to Friday, 8 am to 10 pm ET Saturday 8 am to 6:30 pm ETCustomer Service Hours

    Bank of America operates both online and in-person, making it easy for Massachusetts borrowers to find a mortgage that fits their needs. The lender offers a variety of mortgage options including fixed- and adjustable-rate mortgages. For those looking at more specialized programs, it also provides jumbo, FHA, VA, and Affordable Loan Solution mortgages as well as specific financing for doctors.

    Credit score and down payment requirements are not a one-size-fits-all at Bank of America. for example, VA loans don't require a down payment while the Affordable Loan Solution mortgage asks for as little as 3%. Customer service is available Monday to Friday from 8 am to 10 pm ET, and on Saturday from 8 am to 6:30 pm ET. You can reach out via virtual channels, phone or in person. Additionally, it offers programs such as America’s Home Grant® and Down Payment Grant to help homeowners with funds towards their purchase.


    • Unique mortgage options available
    • Client Assistance Program for payment flexibility
    • Online financial calculators for planning


    • Can't prequalify without online profile setup
    • Minimum credit score not disclosed
    Bank of America

Mortgage Programs in Massachusetts

Owning a home means dealing with hidden costs that can affect your budget. In Massachusetts, Mass Housing offers mortgage programs to support you in buying a home.


Down Payment Assistance

The Down Payment Assistance program offers funds to help with buying a home in Massachusetts. Eligible buyers can get 10% of their home’s purchase price, up to $50,000 or $30,000, based on location. There are two options: an interest-free loan due upon selling, refinancing or paying off your mortgage, or a 15-year loan at 2% interest to help manage your finances.

MI Plus

MI Plus is a unique mortgage insurance option providing an extra layer of security. Should unexpected job loss occur, it covers up to six months of mortgage payments, maxing out at $2,000 per month. It’s a feature of all MassHousing-insured loans and comes with no additional costs, ensuring you stay in your home while seeking employment.

FAQ: Mortgage Rates in Massachusetts

We’ve covered your pressing questions about today’s mortgage rates in Massachusetts. Understanding these rates is important for anyone buying a home in the Bay State.

What are the current mortgage rates in Massachusetts?
How do mortgage rates in Massachusetts compare to national rates?
How does my credit score impact the mortgage rates I get in Massachusetts?
Are there any special mortgage programs in Massachusetts to help homebuyers?
How can I get the best possible mortgage rate in Massachusetts?
What are today's mortgage refinance rates in Massachusetts?
How do I calculate my mortgage payments?

About Zachary Romeo

Zachary Romeo headshot

Zachary Romeo is the Head of Loans and Banking at MoneyGeek, with over 10 years of experience and forthcoming certification as a Commercial Banking and Credit Analyst (CBCA). Previously, he led production teams for some of the largest online informational resources in higher education.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt through people-first content.