One thing seems certain: we aren’t likely to see average 30-year fixed mortgage rates return to the historic lows….
– Freddie Mac
There are those Boston condo buyers that hope that 30-year mortgage interest rates will head back under 3.5%. Obviously, for any prospective Boston condo purchaser that would be great news. However, there is probably a greater chance that interest rates will return to the greater than 5% rate in the next decade before they would return to the than 3.5% rate.
If your thinking of buying a Boston condo you should keep track of the interest rate. The FED has indicated it will be going up soon.