Compare Mortgage Rates in Massachusetts

Massachusetts Real Estate: Bottoming Out
Massachusetts' real estate market has been described as "fallen off a cliff" by at least one local blogger. Inventory piled up as sellers dug in their heels, lenders put on the brakes, and buyers held out for bargains. But September and October 2008 housing data show that the mortgage industry in Massachusetts might finally be looking up. Lower mortgage interest rates and price reductions of 10.6 percent over this time last year have spurred buyers on; sales were up 6.6 percent, and inventory has been reduced.

Refinancing in Massachusetts a Challenge
Mortgage companies in Massachusetts are offering the lowest rates seen in decades, but homeowners who bought recently with little down may not be in a position to take advantage of them. FHA refinancing in Massachusetts does allow you to refinance to very high loan-to-values and may help those with adjustable rate mortgages move into fixed rate loans. Mortgage underwriting guidelines remain fairly tight, with the best rates and terms going to borrowers with spotless credit, adequate assets, and stable income.

Massachusetts: Good for First-timers
Massachusetts real estate offers a major opportunity to those who can take advantage of it. Low but steadying home prices, historically great interest rates, federal tax credits, expanded FHA opportunities, motivated sellers, and an inventory of bank-owned properties create unprecedented prospects for home ownership and investment for those ready to take advantage of them.