Boston Real Estate Blog

Sponsored by John Ford Realty
137 Charles Street, Boston
151 Tremont Street

The Big Climb

Mortgage rates are really starting to climb.

Granted, in the big picture of things, they’re still at historically low levels at 4.5 percent for a 30-year mortgage. But the numbers are all pointing upward these days — and few expect them to fall back to their previously lower levels.

One Response to The Big Climb

  • I got the following rates from BAC earlier this year, actually all the way back in March, 2013:

    Rental property (in Metropolitan Condos) is 3.125% and primary residence (Chestnut Hills) is 2.875%

    Both loans are a 10 year fixed product with zero points– closing costs being somewhat standard, seem not relevant.

    Are these good rates?

    The 2.875% refi closed recently (the other has not).

    It seemed strange that I received a check for $1293.32 from the title company.

    They called it “Loan proceeds from your transaction”.

    What does the bank gain from taking so long? Are they hoping that I’ll ‘drop’ out?