Massachusetts Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Massachusetts averaged
6.85%
for the week of 2025-01-16, compared to the national average of
7.04% for the same period.
The average rate for the prior week (2025-01-09) was
6.84% and
one month ago for the week of 2024-12-12, the
average rate was 6.51%.
Massachusetts's average rate one year ago was 6.57%.
For refis of the same type during the week of 2025-01-16, the average rate
was 7.07%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-01-16 | 7.04% |
| Massachusetts 30 Year Fixed Rate | 2025-01-16 | 6.85% |
| Massachusetts 30 Year Fixed Rate Refi | 2025-01-16 | 7.07% |
| Massachusetts 15 Year Fixed Rate | 2025-01-16 | 6.15% |
| Massachusetts 15 Year Fixed Rate Refi | 2025-01-16 | 6.53% |
| Massachusetts 30 Year FHA | 2025-01-16 | 6.48% |
| Massachusetts 30 Year FHA Refi | 2025-01-16 | 6.45% |
| Massachusetts 30 Year USDA | 2025-01-16 | 6.52% |
| Massachusetts 30 Year USDA Refi | 2025-01-16 | 6.62% |
| Massachusetts 30 Year VA | 2025-01-16 | 6.4% |
| Massachusetts 30 Year VA Refi | 2025-01-16 | 5.72% |
Massachusetts Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Massachusetts market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Massachusetts Average Closing Costs & Other Stats
Massachusetts's 415 lenders originated 111,168
loans during 2023. The total origination value was $44,680,110,000, with an average loan value of
$401,915.
Massachusetts's average closing costs are $5,235.
The top Massachusetts lender as defined by loan originations is GUARANTEED RATE, INC., with
2,297 loans originated. Their average total fees are
$6,103, which is $854
higher than the next largest lender,
Leader Bank.
The lowest fee Massachusetts lenders (with over 10 loans originated) are
Discover Bank ($0), Community Bank ($50), SIRVA MORTGAGE, INC. ($1,362), PREMIA MORTGAGE, LLC ($2,633) and GREATER SPRINGFIELD CREDIT UNION ($2,930).
The lowest rate Massachusetts lenders (with over 10 loans originated) are
UMASSFIVE COLLEGE Federal Credit Union (4.44%), First Republic Bank (4.73%), FALL RIVER MUNICIPAL CREDIT UNION (4.92%), RTN FEDERAL CREDIT UNION (5.13%) and NBT Bank (5.19%).
Massachusetts Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Citizens Bank | $3,406,310,000 | $2,101,970,000 | -38.3% | 4.7% |
| Leader Bank | $2,504,135,000 | $1,651,560,000 | -34.0% | 3.7% |
| GUARANTEED RATE, INC. | $2,571,800,000 | $1,633,465,000 | -36.5% | 3.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,618,130,000 | $1,402,880,000 | -13.3% | 3.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,792,955,000 | $1,340,790,000 | -25.2% | 3.0% |
| QUICKEN LOANS, LLC | $2,103,505,000 | $1,237,280,000 | -41.2% | 2.8% |
| Bank of America | $1,896,330,000 | $1,203,910,000 | -36.5% | 2.7% |
| Rockland Trust Company | $1,574,400,000 | $1,112,540,000 | -29.3% | 2.5% |
| Eastern Bank | $1,742,230,000 | $918,810,000 | -47.3% | 2.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,702,120,000 | $888,490,000 | -47.8% | 2.0% |
| MOVEMENT MORTGAGE, LLC | $550,560,000 | $858,225,000 | 55.9% | 1.9% |
| JPMorgan Chase Bank | $1,252,025,000 | $837,115,000 | -33.1% | 1.9% |
| TD Bank | $951,070,000 | $818,970,000 | -13.9% | 1.8% |
| The Cape Cod Five Cents Savings Bank | $1,502,540,000 | $809,165,000 | -46.1% | 1.8% |
| GUILD MORTGAGE COMPANY | $962,080,000 | $629,630,000 | -34.6% | 1.4% |
| Berkshire Bank | $623,245,000 | $589,335,000 | -5.4% | 1.3% |
| First Republic Bank | $3,770,565,000 | $500,670,000 | -86.7% | 1.1% |
| Needham Bank | $624,260,000 | $498,580,000 | -20.1% | 1.1% |
| U.S. Bank | $1,032,600,000 | $493,550,000 | -52.2% | 1.1% |
| WASHINGTON TRUST MORTGAGE COMPANY LLC | $796,580,000 | $492,065,000 | -38.2% | 1.1% |
| SALEM FIVE MORTGAGE COMPANY, LLC | $605,755,000 | $477,865,000 | -21.1% | 1.1% |
| Cambridge Savings Bank | $892,340,000 | $411,480,000 | -53.9% | 0.9% |
| DIGITAL Federal Credit Union | $708,180,000 | $408,230,000 | -42.4% | 0.9% |
| Citibank | $356,780,000 | $381,905,000 | 7.0% | 0.9% |
| Webster Bank | $955,280,000 | $371,460,000 | -61.1% | 0.8% |
| LOANDEPOT.COM, LLC | $950,855,000 | $361,410,000 | -62.0% | 0.8% |
| Morgan Stanley Private Bank | $550,150,000 | $359,900,000 | -34.6% | 0.8% |
| Easthampton Savings Bank | $156,085,000 | $359,440,000 | 130.3% | 0.8% |
| Institution for Savings in Newburyport and Its Vicinity | $731,600,000 | $352,865,000 | -51.8% | 0.8% |
| TOTAL MORTGAGE SERVICES, LLC | $484,980,000 | $330,060,000 | -31.9% | 0.7% |
| CMG MORTGAGE, INC. | $92,240,000 | $327,375,000 | 254.9% | 0.7% |
| M&T Bank | $191,430,000 | $323,130,000 | 68.8% | 0.7% |
| Dedham Institution for Savings | $458,425,000 | $296,275,000 | -35.4% | 0.7% |
| GUARANTEED RATE AFFINITY, LLC | $401,965,000 | $281,430,000 | -30.0% | 0.6% |
| HARBORONE MORTGAGE, LLC | $549,490,000 | $277,220,000 | -49.5% | 0.6% |
| The Village Bank | $522,005,000 | $274,230,000 | -47.5% | 0.6% |
| ROCKLAND | $267,740,000 | $250,785,000 | -6.3% | 0.6% |
| Enterprise Bank and Trust Company | $415,185,000 | $248,490,000 | -40.1% | 0.6% |
| RADIUS FINANCIAL GROUP INC. | $356,005,000 | $240,770,000 | -32.4% | 0.5% |
| Wells Fargo Bank | $935,815,000 | $233,975,000 | -75.0% | 0.5% |
| Main Street Bank | $167,315,000 | $232,660,000 | 39.1% | 0.5% |
| NEWREZ LLC | $261,040,000 | $230,315,000 | -11.8% | 0.5% |
| Hingham Institution for Savings | $481,090,000 | $204,385,000 | -57.5% | 0.5% |
| Fall River Five Cents Savings Bank | $405,125,000 | $198,095,000 | -51.1% | 0.4% |
| Mortgage Research Center, LLC | $243,630,000 | $193,265,000 | -20.7% | 0.4% |
| Salem Five Cents Savings Bank | $189,310,000 | $188,330,000 | -0.5% | 0.4% |
| First-Citizens Bank & Trust Company | $36,960,000 | $186,980,000 | 405.9% | 0.4% |
| BAYCOAST MORTGAGE COMPANY, LLC | $341,605,000 | $182,165,000 | -46.7% | 0.4% |
| RF Renovo Management Company, LLC | $212,560,000 | $180,805,000 | -14.9% | 0.4% |
| Middlesex Savings Bank | $522,125,000 | $179,840,000 | -65.6% | 0.4% |
| HANSCOM | $381,390,000 | $177,370,000 | -53.5% | 0.4% |
| Bridgewater Savings Bank | $252,665,000 | $172,385,000 | -31.8% | 0.4% |
| NAVY FEDERAL CREDIT UNION | $184,215,000 | $170,095,000 | -7.7% | 0.4% |
| Bristol County Savings Bank | $159,320,000 | $169,035,000 | 6.1% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $382,335,000 | $163,415,000 | -57.3% | 0.4% |
| NEW FED MORTGAGE, CORP. | $358,280,000 | $161,275,000 | -55.0% | 0.4% |
| METRO | $429,585,000 | $160,120,000 | -62.7% | 0.4% |
| Jeanne D'Arc Credit Union | $462,355,000 | $158,130,000 | -65.8% | 0.4% |
| Everett Co-operative Bank | $451,845,000 | $158,095,000 | -65.0% | 0.4% |
| Norwood Co-operative Bank | $130,830,000 | $154,010,000 | 17.7% | 0.3% |
| Cambridge Trust Company | $398,555,000 | $145,915,000 | -63.4% | 0.3% |
| WALKER & DUNLOP, LLC | $503,785,000 | $144,465,000 | -71.3% | 0.3% |
| Cape Cod Co-operative Bank | $290,785,000 | $141,905,000 | -51.2% | 0.3% |
| Avidia Bank | $204,255,000 | $141,640,000 | -30.7% | 0.3% |
| GREYLOCK | $211,895,000 | $140,020,000 | -33.9% | 0.3% |
| MORTGAGE EQUITY PARTNERS LLC | $150,135,000 | $139,910,000 | -6.8% | 0.3% |
| Brookline Bank | $742,085,000 | $139,560,000 | -81.2% | 0.3% |
| HARVARD UNIVERSITY EMPLOYEES | $164,905,000 | $136,735,000 | -17.1% | 0.3% |
| East West Bank | $122,150,000 | $135,775,000 | 11.2% | 0.3% |
| Winchester Co-operative Bank | $134,185,000 | $133,240,000 | -0.7% | 0.3% |
| Greenfield Savings Bank | $109,465,000 | $127,540,000 | 16.5% | 0.3% |
| DRAPER AND KRAMER MORTGAGE CORP. | $329,370,000 | $127,485,000 | -61.3% | 0.3% |
| Shamrock Home Loans, Inc. | $163,720,000 | $125,110,000 | -23.6% | 0.3% |
| Adams Community Bank | $146,660,000 | $123,970,000 | -15.5% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $306,475,000 | $120,110,000 | -60.8% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $398,175,000 | $119,825,000 | -69.9% | 0.3% |
| EMM LOANS LLC | $157,330,000 | $118,480,000 | -24.7% | 0.3% |
| UniBank for Savings | $258,930,000 | $117,330,000 | -54.7% | 0.3% |
| PeoplesBank | $190,630,000 | $116,890,000 | -38.7% | 0.3% |
| Florence Bank | $202,665,000 | $115,350,000 | -43.1% | 0.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $207,160,000 | $114,960,000 | -44.5% | 0.3% |
| BERKELEY POINT CAPITAL LLC | $122,230,000 | $114,725,000 | -6.1% | 0.3% |
| MERRIMACK VALLEY | $96,120,000 | $114,080,000 | 18.7% | 0.3% |
| Reading Co-Operative Bank | $143,155,000 | $112,890,000 | -21.1% | 0.3% |
| ACADEMY MORTGAGE CORPORATION | $199,610,000 | $111,965,000 | -43.9% | 0.3% |
| North Shore Bank, a Co-operative Bank | $193,165,000 | $109,465,000 | -43.3% | 0.2% |
| Goldman Sachs Bank USA | $156,505,000 | $107,480,000 | -31.3% | 0.2% |
| WEBSTER FIRST Federal Credit Union | $174,865,000 | $105,505,000 | -39.7% | 0.2% |
| East Cambridge Savings Bank | $302,175,000 | $105,060,000 | -65.2% | 0.2% |
| UBS Bank USA | $185,155,000 | $104,070,000 | -43.8% | 0.2% |
| EMBRACE HOME LOANS, INC. | $193,110,000 | $103,605,000 | -46.3% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $86,700,000 | $100,495,000 | 15.9% | 0.2% |
| CENTRAL ONE FEDERAL CREDIT UNION | $128,480,000 | $99,535,000 | -22.5% | 0.2% |
| Cornerstone Bank | $190,505,000 | $98,275,000 | -48.4% | 0.2% |
| LEOMINSTER CREDIT UNION | $100,050,000 | $97,660,000 | -2.4% | 0.2% |
| BROKER SOLUTIONS, INC. | $111,110,000 | $96,750,000 | -12.9% | 0.2% |
| Coastal Heritage Bank | $179,740,000 | $96,550,000 | -46.3% | 0.2% |
| PNC Bank | $297,705,000 | $95,910,000 | -67.8% | 0.2% |
| Workers Credit Union | $306,790,000 | $94,565,000 | -69.2% | 0.2% |
| Country Bank for Savings | $140,430,000 | $93,685,000 | -33.3% | 0.2% |
| NORTHPOINT MORTGAGE, INC. | $104,455,000 | $93,575,000 | -10.4% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $304,985,000 | $92,480,000 | -69.7% | 0.2% |
| The Washington Trust Company, of Westerly | $111,305,000 | $92,110,000 | -17.2% | 0.2% |
| ENVOY MORTGAGE, LTD | $212,970,000 | $91,080,000 | -57.2% | 0.2% |
| The Lowell Five Cent Savings Bank | $74,995,000 | $90,975,000 | 21.3% | 0.2% |
| The Bank of Canton | $145,440,000 | $90,900,000 | -37.5% | 0.2% |
| NFM, INC. | $119,085,000 | $89,085,000 | -25.2% | 0.2% |
| NORWICH COMMERCIAL GROUP, INC. | $103,370,000 | $88,505,000 | -14.4% | 0.2% |
| Mechanics Cooperative Bank | $59,095,000 | $87,390,000 | 47.9% | 0.2% |
| Winchester Savings Bank | $86,455,000 | $84,930,000 | -1.8% | 0.2% |
| The Camden National Bank | $170,830,000 | $84,375,000 | -50.6% | 0.2% |
| St. Anne's Credit Union of Fall River, Mass. | $116,135,000 | $84,285,000 | -27.4% | 0.2% |
| Westfield Bank | $148,800,000 | $83,355,000 | -44.0% | 0.2% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $115,650,000 | $78,735,000 | -31.9% | 0.2% |
| The Savings Bank | $75,355,000 | $77,865,000 | 3.3% | 0.2% |
| BayCoast Bank | $142,020,000 | $77,775,000 | -45.2% | 0.2% |
| Fidelity Co-operative Bank | $162,215,000 | $77,600,000 | -52.2% | 0.2% |
| DREW MORTGAGE ASSOCIATES, INC. | $126,845,000 | $77,560,000 | -38.9% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $282,030,000 | $77,450,000 | -72.5% | 0.2% |
| Eagle Bank | $63,160,000 | $77,125,000 | 22.1% | 0.2% |
| Middlesex Federal Savings, F.A. | $91,850,000 | $76,640,000 | -16.6% | 0.2% |
| FIRST MORTGAGE COMPANY, INC. | $55,025,000 | $76,020,000 | 38.2% | 0.2% |
| BAY EQUITY LLC | $128,625,000 | $75,315,000 | -41.4% | 0.2% |
| Martha's Vineyard Savings Bank | $220,525,000 | $75,115,000 | -65.9% | 0.2% |
| First National Bank of America | $75,805,000 | $73,890,000 | -2.5% | 0.2% |
| HarborOne Bank | $243,350,000 | $72,665,000 | -70.1% | 0.2% |
| North Easton Savings Bank | $142,535,000 | $72,480,000 | -49.1% | 0.2% |
| StonehamBank, A Co-operative Bank | $93,755,000 | $71,995,000 | -23.2% | 0.2% |
| Direct Federal Credit Union | $150,800,000 | $71,910,000 | -52.3% | 0.2% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $63,790,000 | $70,395,000 | 10.4% | 0.2% |
| The Cooperative Bank | $136,285,000 | $70,165,000 | -48.5% | 0.2% |
| MountainOne Bank | $85,190,000 | $70,080,000 | -17.7% | 0.2% |
| OCMBC, INC. | $67,680,000 | $70,060,000 | 3.5% | 0.2% |
| St. Mary's Credit Union | $96,705,000 | $69,720,000 | -27.9% | 0.2% |
| PGIM Real Estate Finance, LLC | $69,225,000 | n/a | 0.2% | |
| LEADERONE FINANCIAL CORPORATION | $11,120,000 | $67,840,000 | 510.1% | 0.2% |
| MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION |