Boston condo for sale mortgage rates Spring 2025

“Ask and it will be given to you, search and you will find, knock and the door will be open for you”

Boston condo for sale mortgage rates Spring

Boston condo for sale mortgage rates Spring Hello Boston Condo buyers, what a rollercoaster for economic news so far in 2025! Now that we’re in March, many Beacon Hill condo buyers are thinking, can mortgage rates dip even lower than we’ve seen since Jan. 14? Many Boston condo brokers claim that the Boston condo for sale market is stuck right now, but it will unfreeze in a few weeks before the peak of the spring market. Which begs the question: can rates go even lower for spring 2025?

Since Trump won, we have said many times that the White House economic teams want to see mortgage rates going lower. Part of the policy plan to get us there is firing government workers, reducing government spending and expanding oil production to fight inflation. For now, weakness in recent economic data has been the big driver of lower mortgages. Do we realistically have legs to go lower?

“Ask and it will be given to you,”

Boston condo for sale mortgage rates Spring

Mortgage rates are currently rising. According to Zillow, the 30-year fixed mortgage rate is up two basis points to 6.74%, and the 15-year fixed mortgage rate has increased by five basis points to 6.03%.

Boston condo for sale mortgage rates Winter

Mortgage rates rose today by about as much as the Fed lowered – just like last time!

If anyone needed any further convincing that a Fed rate cut is no guarantee of lower mortgage rates, today is a great piece of evidence. Perhaps “great” is the wrong word. There was nothing great about the mortgage rate movement following today’s Fed rate cut.

The average lender is at least 0.20% higher than earlier this morning. Lenders are still in the process of adjusting their rate sheets, so the total damage could vary slightly by the time we’re able to run the full numbers.

Either way, the top tier conventional 30yr fixed rate will easily be back over 7% for the average lender.

What gives?

Read full article here:

https://www.mortgagenewsdaily.com/markets/mortgage-rates-12182024