Compare mortgage rates in Boston.

Introduction to Mortgage Rates

Mortgage rates in Boston should be a key consideration if you’re looking to buy a home. Rates can greatly affect how much home you can afford and what your long-term financial planning needs to look like — especially since Boston rates tend to skew higher than the national average. This guide was created to help you understand how mortgage rates are determined and how you can get the best rate for your needs.

It may be especially helpful if you are looking into buying your first home. You’ll want to make understanding where Boston rates come from step one on your mortgage journey.

Where Mortgage Rates Come From

The rates homebuyers obtain when negotiating a home loan are influenced by a combination of factors, from the economy to the borrower’s financial situation and credit history. Let’s take a closer look:

The type of home mortgage loan you choose and the term will impact your interest rate, too. We’ll get into that in more detail below.

See what factors impact your mortgage.

See how different loan amounts, down payments, and other factors impact your home mortgage with our mortgage calculator.

How Interest Rates Affect Home Affordability

In Boston and other Massachusetts cities, even small mortgage rate changes can have a big impact on your home-buying ability. Here’s an example: If you negotiate a $400,000 home loan at a 6.95% interest rate, your monthly payment will be $2,648. But if the rate goes up to 7.45%, your monthly payment will jump to $2,783. Over the life of a 30-year mortgage, that 0.50% difference will add up to almost $48,000 in interest payments. This is essential to keep in mind if you’re looking at mortgage rates in Boston, where the housing market is competitive and prices are consistently high.

This is why it is so important to get the best possible mortgage rate when buying a home in Massachusetts. By shopping around and comparing rates, you may save yourself big money in the long run.

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Boston Mortgage Rate Trends

Looking at historical mortgage rates in Massachusetts and throughout the country can help you get an idea of what the future might hold for Boston’s rates.

Types of Mortgages Available in Boston

In Boston, you have a lot of options when looking for the type of mortgage loan that will best help you secure the funds to purchase your home. Understand your options and you can make informed decisions to suit your situation.

Should You Wait for Interest Rates to Drop?

If you’re in Boston or elsewhere in Massachusetts and are considering a home purchase, you could be wondering whether to wait and see if interest rates begin to fall. Current economic uncertainties make it hard to say. In April 2025, forecasters said that 2025 would end with the average interest rate for a 30-year fixed-rate mortgage at 6.50%.

Consider that if you buy right now and mortgage rates fall in the future, you can always think about a mortgage refinance to take advantage of dropping rates. It’s also important to think about your personal needs: Is the lease on your rental soon to expire? Is your apartment rental costing you about the same as what you pay for your mortgage every month? Are you anxious to build equity? It’s a good idea to weigh all of these factors.

Recommended: Average Monthly Expenses for One Person

See How Boston’s Costs Stack Up

The overall cost of living in Boston impacts the city’s home prices — and also the challenges of fitting mortgage payments into your budget. Boston’s cost of living comes in at about 27.5% higher than the national average.

Here’s how Boston stacks up against other Massachusetts cities. The chart uses data from two indices comparing local costs of living to the average cost of living in the U.S.

Get Your Best Possible Rate in Boston

To secure the best mortgage rate possible in Boston, work on upping your credit score and getting your debt-to-income (DTI) ratio down. Conventional loans are the most common and typically require a credit score of 620 or higher; the average credit score of approved applicants in 2024 was 758, according to Experian®, which tracks consumer credit scores.

If you can increase your down payment and therefore lower your loan amount, you may be able to eliminate a need for private mortgage insurance (PMI), which is required for a conventional loan when you make a down payment of less than 20%. You’ll find different types of loans to consider, including ARMs, which tend to have lower initial rates than fixed-rate mortgages. Spending time monitoring Boston mortgage rates can help you make the most informed decision when you are ready to buy.

Helpful Tools & Calculators

Using a mortgage calculator is a great first step as you develop an understanding of different interest rates in Boston. Calculators can help you see how different rates will affect your monthly payments as you pay off your loan. These calculators are easy to use and effective for prospective homebuyers, especially if you are new to the process. They take into account loan amount, term length of the loan you select, and interest rate, and provide a clear and accurate financial picture of your future obligations.

Here are three mortgage calculators we like:

How to Evaluate Loan Offers in Boston

When you secure a competitive mortgage rate, it can save you a substantial amount of money over the life of your loan. Pay attention to the annual percentage rate (APR), which encompasses fees, closing costs, and discount points.

When you find a loan offer that feels right for you, navigate the mortgage preapproval process so you’re ready to make an offer. You can also consider locking in the rate for up to 90 days, for a small fee, if you’re concerned about potential rate hikes.

Boston Mortgage Resources

Massachusetts offers all kinds of resources and programs to support homebuyers, especially if you’re buying your first home or working with a limited budget. Look at the state’s offerings, such as My Mass Mortgage: ONE Mortgage and MassHousing Loan, which provides low-interest, fixed-rate loans with down payments as low as 3% or 5%. Remember, Federal programs, including FHA loans and VA loans, also support first-time homebuyers with low down payments and flexible credit requirements.

You may also find down payment assistance programs or help with closing costs. These types of assistance can significantly reduce the financial burden of buying a home, and is worth researching to make more strategic and financially sound decisions. For many first-time homebuyer programs, anyone who has not purchased a primary residence in the last three years can be eligible.

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Closing Costs in Boston

If you’re looking to buy a home in Boston, you also need to think about closing costs. Typically, you’ll pay 2% to 5% of the home’s final purchase price. Costs can vary, depending on the property’s value and where it is located in the city. Overall, the median sale price of a home in Boston is well above the Massachusetts statewide median at $770,000 — and a home selling for that price would cost more than $10,000 to close.

Closing costs tend to cover the following:

•   Abstract and recording fees: These costs are for summarizing the title search.

•   Application fee: A lender may charge for processing your loan application.

•   Appraisal and survey fees: Usually in the $300 to $600 range, these costs could also be considerably higher, depending on the home’s location, value, and other factors.

•   Credit reporting, underwriting, and origination fees: A lender may charge $10 to $100 per applicant to check your credit score, and underwriting fees (perhaps in the $300 to $750 range) might also be added to your closing costs. Origination fees may be about 0.5% to 1% of loan value, and are there to cover the costs of the lender creating your loan documents.

•   Flood certification fee: Lenders may require flood certification, which states the property’s flood zone status.

•   Title search and title insurance fees: A title search is performed to see if there are any other claims on the property in question, and the buyer typically pays the fee for this — usually in the $75 to $200 range. Lenders also often require title insurance protection, likely a one-time fee costing between 0.1% and 2% of the home’s sale price.

As you figure out your budget for closing expenses, you may also want to think about reserving funds for mortgage points. (Each mortgage point you choose to buy costs 1% of the mortgage amount and generally lowers your mortgage interest rate by 0.25% per point.)

The Takeaway

Boston’s mortgage landscape is as diverse as the city itself, offering a wealth of options for those looking to become homebuyers. Staying informed about current mortgage rates in Boston and exploring available assistance programs are important strategies for prospective buyers, and the time spent will be well-invested. Whether you’re a first-time buyer or a seasoned homeowner, take advantage of all available resources and the process will be smoother and more affordable.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

Compare mortgage rates in Williamsville.

Introduction to Williamsville Mortgage Interest Rates

Where Mortgage Rates Come From

Mortgage interest rates might be different for every person, and in every place. They’re influenced by the bond market, and the 10-year U.S. Treasury Note is their primary benchmark. When the note’s interest rates change, mortgage rates often head in the same direction. The housing market also plays a role in the fluctuation of rates. A strong housing market, mixed with rising inflation, can push mortgage rates higher.

Mortgage rates are personalized to the borrower, too. Your credit score significantly affects the rate you’ll be offered by lenders. The higher your score, the lower the rate you’re likely to obtain. Making a larger down payment might result in a lower interest rate, since borrowers with higher amounts of equity are perceived as a lower default risk by lenders.

Finally, your debt-to-income (DTI) ratio is important. In general, mortgage lenders like to see your DTI ratio at no more than 36%, though that is not necessarily the maximum for this metric.

See how your debt level may affect your mortgage

Use SoFi’s debt-to-income calculator to determine your personal DTI number..

How Interest Rates Affect Home Affordability

In Williamsville, small mortgage rate changes can have a big effect on your ability to buy a home. Here’s one example: Negotiate a $400,000 home loan at a 6.95% interest rate, and your payment will be $2,648 per month. If the rate goes up to 7.45%, though, your monthly payment will jump up too, to $2,783. Over a 30-year mortgage term, that 0.50% difference will add up to some $48,000 in extra interest. Keep this in mind if you are looking at mortgage rates in Williamsville and anywhere else you are considering to buy a home.

The following chart shows you the difference you’ll pay in interest when the rate differs by one percentage point over a 15- or 30-year term.

This is why it’s essential to get the best possible mortgage rate if you buy a home in Williamsville. Shopping around and comparing rates may save you big money down the road.

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Williamsville, Missouri Mortgage Rate Trends

Take a look at historical mortgage rates in Missouri and throughout the country. This will give you a perspective that can help you see what the future might hold for Williamsville’s rates.

Types of Mortgages Available in Williamsville, Missouri

In Williamsville, you have a lot of options when you begin looking for the type of mortgage loan you want. Understanding them will help you secure the funds to purchase your home and make informed decisions to secure a good rate.

Should You Wait for Interest Rates to Drop?

If you’re in Williamsville or elsewhere in Missouri, you might wonder whether to give interest rates some time to go down. Right now, a hazy economic horizon makes it hard to say. In the spring of 2025, forecasters said it was unlikely that the year would end with the average interest rate for a 30-year fixed-rate mortgage dropping below 6.50%. What 2026 will bring is hard to predict.

You may not have endless time to wait for an interest rate drop, but if you buy right now and mortgage rates fall in the future, you can think about a mortgage refinance to take advantage of the change.

In the meantime, think about your personal needs: Is the lease on your rental about to expire? Does your apartment rental cost about what you pay for your mortgage each month? Do you feel anxious about building equity? All of these factors may influence your plan. Be sure to assess your savings and your credit score, and spend some time evaluating overall market conditions before you decide if buying now is the right choice.

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See How Williamsville’s Costs Stack Up

The cost of living in Williamsville is relatively affordable, especially compared to big Missouri cities like Kansas City, Springfield, and St. Louis. Missouri boasts the 11th lowest living costs in the U.S., and Williamsville’s cost of living is about 27% lower than the national average, making it an attractive choice for stretching your budget without sacrificing quality of life. The median household income in Missouri is $68,920. With mortgage rates in the Williamsville area being low, owning a home here is well within reach.

This chart shows you how Williamsville compares to other cities, using data from two indices comparing local cost of living to the average cost of living in the U.S. Moving to a lower-cost city can save you a lot of money, and is one strategy for buying property if you have a limited budget.

How to Get Your Best Possible Rate in Williamsville

In the second quarter of 2025, the average 30-year fixed mortgage rate in Missouri was 7.07%. The average 15-year fixed mortgage rate was 6.22%. To secure the best rate possible in Williamsville, you could make an effort to up your credit score and reduce your debt-to-income (DTI) ratio. Conventional loans are a common choice — they typically require a credit score of 620 or higher. In 2024, the average credit score of approved applicants was 758, according to Experian®, one company that tracks consumer credit scoring.

•   To improve your credit score, pay off balances on your credit cards and make payments on time.

•   Lower your DTI ratio by working to pay down your debts — don’t carry balances.

•   A higher down payment really pays off in the long run, and can help you secure a lower interest rate.

•   Lenders may ask to look at your employment history to confirm a steady source of income.

•   You may want to gather your information and emabrk on the mortgage preapproval process. It will give you an idea of what you can afford.

•   Look into government-backed loan programs, which carry lower interest rates than conventional loans.

Tools & Calculators

Mortgage calculators are simple and useful tools to help you understand different interest rates’ impact when you buy a home in Williamsville. They can tell you how they’ll affect monthly payments over your loan’s life, taking into account the loan amount you’re requesting, the term length of your loan, and the interest rate. They may be able to give you a clear and accurate financial picture that will allow you to make informed decisions.

Check out these three helpful mortgage calculators:

How to Evaluate Loan Offers in Williamsville

It’s a smart move financially to grab a competitive mortgage rate. Just a fraction of a percentage point can turn into substantial overall savings over the term of your loan. You’ll want to compare interest rates and fees from different lenders to ensure you get the best deal possible. Pay attention to annual percentage rate, or APR, which encompasses fees, closing costs, and discount points.

Once you find a loan with an interest rate that suits you, think about locking in that rate for up to 90 days, to head off potential rate hikes. Lenders usually charge a small fee for this option.

Williamsville Mortgage Resources

Missouri is home to lots of resources and programs that offer assistance to homebuyers. If you’re buying your first home or have limited financial means, you may find the needed support to buy a starter home in Williamsville at a great interest rate. Good news: You could be considered a first-time buyer even if you’ve owned a primary residence, as long as it hasn’t been in the last three years.

The Missouri Housing Development Commission (MHDC) is behind the First Place Program, offering lower interest rates and down payment assistance, as well as closing costs. The Next Step Program has more generous income and purchase price limits, plus a 10-year forgivable loan to ease the burden of down payments and closing costs.

Closing Costs in Williamsville

If you’re buying a home in Williamsville, you can expect to pay between 2% and 5% of your loan amount in closing costs. For a $258,766 home — the average home value in Missouri in early 2025 — that’s between $5,000 and $13,000.

The amount you’ll pay will most likely depend on a range of factors, including the home price and its location in the city. Common closing costs in Williamsville include credit report fees, loan origination fees, appraisal fees, title insurance premiums, and property taxes. Understanding costs and shopping for the best mortgage rates will help you save money when purchasing your home. You may also find help with your closing costs from local or state programs, like those offered by the MHDC.

As you figure out your budget for closing expenses, you may also want to think about reserving funds for mortgage points. (Each mortgage point you choose to buy costs 1% of the mortgage amount and generally lowers your mortgage interest rate by 0.25% per point.)

The Takeaway

Williamsville’s mortgage landscape offers options for those looking to be homeowners. Staying informed about current mortgage rates and exploring available assistance programs are important tasks for prospective buyers. Whether you’re a first-time buyer or an experienced homeowner, take advantage of available resources to make the process easier and more affordable.

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FAQ

Will mortgage rates drop in Williamsville, MO?

Many economists predict that Williamsville mortgage rates will remain stable into 2026, but no one knows for sure. Watching economic factors such as inflation and Treasury bond prices can help homebuyers anticipate where mortgage rates are going. What’s more important, however, is weighing your financial readiness and satisfaction with the homes you find in your price range.

Will mortgage rates ever return to normal?

Rates have increased in recent years, but they are still below the peaks the U.S. has seen in previous decades. Today’s rates may actually seem “normal” to older buyers who recall when they were way higher. Waiting for rates to drop is typically less helpful than examining your financial ability to purchase a home, and whether the timing is the right to do so. This will be based not only on the home’s cost but also on your personal situation — if you are relocating, for example, your family size is growing, or your rental lease is ending.

How can you lock in a mortgage rate?

Do your research and compare mortgage offers from multiple lenders. Try to zero in on the best available rates. Once you select a lender, ask them about a rate lock: They typically last 30 to 60 days and are sometimes free, but more often cost between 0.25% and 0.50% of your loan amount.

How do mortgage interest rates function?

Mortgage interest rates are usually presented as a percentage, and amount to your cost to borrow money when purchasing a home. These loan rates are influenced by your personal financial history as well as economic conditions. Fixed-rate mortgages will have rates that stay stable, while adjustable-rate loans, called ARMs, have changeable rates. Homebuyers need to understand mortgage rate basics, and know that even small rate changes may translate to thousands of dollars over the life of a 30-year loan term.

Compare mortgage rates in Atlanta, CA.

Introduction to Mortgage Refinance Rates

Where Mortgage Rates Come From

The interest rate you’ll be offered on your home loan is a product of many factors, from the health of the economy to your personal financial situation. But one of the biggest influences on the rate you’ll get is the bond market. The 10-year U.S. Treasury note is a key benchmark for the bond market, and its yield helps set the interest rate for mortgages. Generally, when the yield on the Treasury note goes up, mortgage rates go up, too. And when it falls, mortgage rates tend to fall as well. The state of the housing market in Georgia can also affect the rates lenders are willing to offer, as can the overall state of the economy.

The lender will also weigh your personal financial stats, scrutinizing the following:

•   Credit score Most conventional lenders will look for a score of 620 or better, but generally speaking higher is better.

•   Down payment Making a larger down payment can result in a lower interest rate because lenders perceive a lower default risk.

•   Debt-to-income (DTI) ratio In general, mortgage lenders like to see a DTI ratio of no more than 36%, though that is not necessarily the maximum.

Discover how your debt level may impact your mortgage.

Try SoFi’s debt-to-income calculator to calculate your DTI number.

How Interest Rates Affect Home Affordability

The impact of mortgage rates on home affordability is significant, and in today’s market, with home prices high across the U.S., it’s more important than ever to shop around for the best rate. To illustrate this point, review the chart below for a $400,000 loan. As you can see, securing the lower rate of 6.00% on a 30-year term can save a borrower more than $250 per month and almost $100,000 over the life of the loan. Going with a shorter loan term is another way to save on interest payments, although it does make monthly payments higher.

Atlanta Mortgage Rate Trends

Historical U.S. Mortgage Rates

When you view the current mortgage rates in Georgia retrospectively, today’s rates actually look somewhat competitive. While rates have risen in recent years, moving away from record lows seen in 2021, they are still below historical highs observed over the last half-century (as shown in the graphic).

The table shows how average mortgage rates in Atlanta tend to compare to those for the U.S. as a whole. (The Federal Housing Finance Agency stopped tracking state averages after 2018.)

Types of Mortgages Available in Atlanta, California

Atlanta offers pretty much any type of mortgage loan a homebuyer might need. The key is to understand the difference between them so you can make an educated decision, as the type of loan you choose will affect how much you spend. Here are some terms to know, particularly if you are buying your first home and all this is new territory.

Should You Wait for Interest Rates to Fall?

If you’re mulling over a home purchase in Atlanta, you might be pondering this question. Here’s the scoop: The experts don’t foresee a significant drop in mortgage rates in the near future. In fact, Fannie Mae is expecting rates to hover around the 6.30% mark by the end of 2025.

So, what does this mean for you? It probably signals that your decision on when to enter the housing market will need to depend more on your personal financial situation and life goals than on current rates. If you find a place you want to buy and can afford to do so, you can make your move. And if rates do take a dip down the line, you can always explore the option of a mortgage refinance.

Cost of Living in Atlanta

Atlanta made SoFi’s list of best affordable places in the U.S. for a reason. The cost of living here is below the national average and even below that of its popular nearby neighbor, Athens. The median home sale price in Atlanta is $380,000 and has dropped in the last year, according to Redfin. Here’s how Atlanta compares to some other Georgia areas on a scale where 100 is the average cost of living in the U.S.

Get Your Best Possible Rate in Atlanta

Before you enter the home and mortgage market in Atlanta, there are a few things you can do to help you land the most favorable mortgage rates in Atlanta. First, tend to your credit score. Check your credit report, seek corrections should you find any inaccuracies, and of course pay your bills on time. Aiming for a lower debt-to-income (DTI) ratio, ideally under 36%, can also work in your favor so do your best to reduce debt. And if you can manage a larger down payment, you’ll not only reduce your interest rate but trim the overall amount you borrow. Getting preapproved for a home loan is a smart move, too, as it allows you to lock in a budget before the house hunt heats up.

Recommended: The Mortgage Preapproval Process

Helpful Tools & Calculators

The calculators below will be useful throughout your search for a home and a home loan. Playing with different interest rate and loan term scenarios can help you get a sense of how they will affect your monthly budget and overall costs.

How to Evaluate Loan Offers in Atlanta

Once you have loan offers from multiple lenders in hand, you’ll want to look at them closely to determine which one is the best deal. Don’t only compare interest rates. Take into account the annual percentage rate (APR) on each loan, which encompasses fees, closing costs, and discount points. If you’re concerned about potential rate hikes, some lenders offer the option to lock in your rate for up to 90 days for a fee. Congratulations — you’re in the homestretch. By diligently shopping around for the best mortgage rates in Atlanta, you’re taking a giant step toward financial well-being.

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Atlanta Mortgage Resources

Georgia has your back, offering down payment assistance programs and other resources to help homebuyers, especially those who qualify as a first-time homebuyer or who have limited financial means. The Georgia Dream program is a prime example, providing loans at competitive interest rates to first-time buyers who meet maximum home price and maximum income qualifications. The Peach Plus program targets homebuyers not served by the Georgia Dream program. Local programs in cities like Atlanta sweeten the deal with additional down payment assistance, making the path to homeownership more accessible than ever.

Closing Costs in Atlanta

Those of you ready to make your home in Atlanta will need to set aside 2% to 5% of your loan value for closing costs. The final tally will depend on a few things, like the value of the property and where it’s located. These costs can cover a range of things, from loan origination fees to title insurance. It’s a good idea to keep these in mind as you plan your budget for your new home.

The Takeaway

Atlanta’s mortgage landscape is as diverse as the city itself, offering myriad options for homebuyers. By keeping your finger on the pulse of current mortgage rates in Atlanta and exploring assistance programs, you can achieve successful homeownership in Atlanta. Whether you’re a first-time buyer or a seasoned homeowner, understanding the various mortgage types and resources available can help you navigate the market and secure the best possible terms.

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FAQ

Will mortgage rates drop in Atlanta, Georgia?

Predicting mortgage rates in Atlanta is like trying to predict the weather. Keeping an eye on economic trends and market conditions is the best way to know what will happen to mortgage rates in the area. If the 10-year Treasury Bond rate is falling, mortgage interest rates may fall as well. However, the forecast for interest rates through 2025 is one of relative stability, with the national average rate ending the year at 6.30%.

Will Atlanta home prices ever drop?

A steady influx of people moving to Atlanta means that home prices may not give much ground. They have dropped in the last year, however, and the market is only somewhat competitive at the moment. The extent to which new developments on the horizon could help mitigate the population gains remains to be seen.

How do I secure a mortgage rate?

To secure a great mortgage rate in Atlanta, you want to ask your chosen lender for a “rate lock” agreement. You can usually request one fairly easily, although it may involve paying a fee. But if forecasts are for rising rates, the decision may be well worth it.