Boston Area Mortgage Rates Spike

Boston area mortgage rates have topped 4 percent for the first time in over a year, while at the same time, mortgage applications fell more than 11 percent. Diana Olick reports on how rising Boston area mortgage rates may impact the housing recovery.

Economists are still cautiously bullish on real estate for two main reasons. First is the fact that near-record low Boston area mortgage rates have made home buying more affordable, even with the recent run-up in rates. The second is all the pent-up demand in the housing market after years of sluggish sales.

As was noted in the interview, even rates at 4 percent or so are still near historic lows, and seeing rates go up may be a temporary thing.

3 Percent Boston Area Mortgage Rates Gone Forever?

We will ever see 3 percent mortgage rates again? It’s anyone’s guess, but most experts think not. So now may be the cheapest time to think about getting a Boston area mortgage as opposed to sitting on the fence and waiting for rates to go back down, which they may or may not ever do.

For more on Boston area mortgage information, check out the other articles we have under “Boston Mortgage Info” under Boston Real Estate Categories in the column to your right, and stay tuned to this website as we constantly keep you up to date on Boston area mortgage news and real estate information.

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Also of Interest  Boston Area Real Estate News - February 2015