Updated: Boston Real Estate Blog 2023

Byline – John Ford Beacon Hill Condo Broker

What was the lowest Boston condo mortgage rates were? What are they now?

Boston Condos for Sale and Apartments for Rent

What was the lowest Boston condo mortgage rates were? What are they now?

Inflation needs to cool further before mortgage rates can drop. Average 30-year mortgage rates are hovering around 7% this week, the highest they’ve been in five months, according to Zillow data.

Data showing that the economy is still running hot has driven mortgage rates higher. This includes the latest Consumer Price Index report, which showed that prices rose 3.5% year over year in March. This is a slight uptick from the previous month’s reading, and higher than what many economists expected.

Because inflation has been somewhat sticky so far this year, we’ll likely need to wait longer for the Federal Reserve to start cutting rates. 

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The lowest Boston condo mortgage rates were was 2.65%, in January 2021.

In October of 2023 mortgage rates are at 7.56%