After years of surging borrowing costs, mortgage rates are finally inching down, and the savings are meaningful for Massachusetts homebuyers.

A new analysis from LendingTree found that Bay State borrowers saw the second-largest decrease in monthly mortgage payments in the country between July 2024 and July 2025, trailing only Washington. D.C.

The average annual percentage rate for a 30-year, fixed-rate mortgage in Massachusetts dropped by roughly three-quarters of a percentage point during that period, from 7.31 percent to 6.59 percent, according to the report. That decline translates to a $210.42 drop in the typical monthly payment and about $75,752.61 in savings over the life of a 30-year loan.

This can be the kind of relief that can make or break a home purchase in one of the nat

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