Massachusetts Home Affordability Improves | Lower Mortgage Rates & Rising Buying Power

If you’ve been waiting to buy a home in Massachusetts because of high mortgage rates or rising prices, here’s some good news — affordability is finally improving.

According to First American, affordability is getting better in 39 of the top 50 markets nationwide — marking five straight months of improvement. And yes, Massachusetts is part of that positive trend.

📉 Monthly Payments Are Easing

New data from Redfin shows that mortgage payments on a median-priced home are now about $283 lower per month than they were just a few months ago.

That’s roughly $3,400 in annual savings — real money that can make a big difference in your homebuying comfort zone.

To put it in perspective:

A borrower with a $3,000 monthly budget can now afford a $468,000 home — about $22,000 more than in June.

That extra buying power could be what helps you find the home you’ve been waiting for — whether it’s a condo in Cambridge, a family home in Worcester, or a starter home in the South Shore.

🏠 What’s Behind the Shift in Massachusetts

Two key factors are improving affordability right now:

✅ Mortgage rates have eased from their peak earlier this year
✅ Home price growth has moderated in many local areas

Here’s what that means locally:

In Greater Boston, prices have leveled slightly, giving buyers a bit more breathing room.

In Central and Western MA, inventory is rising slowly, offering more options.

And across the state, lenders are seeing more qualified buyers re-enter the market as rates dip.

As Andy Walden of ICE Mortgage Technology explains:

“The recent pullback in rates has created a tailwind for homebuyers. We’re seeing affordability at a 2.5-year high.”

💡 The Bottom Line

Affordability is improving — and that resets the math on your next move.

If you hit pause earlier this year, this is your cue to take another look. A few hundred dollars less each month could be the difference between “not yet” and “let’s go.”

📞 Let’s connect to run the latest Massachusetts numbers so you can see just how much more buying power you have today.



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