On Wednesday, June 12th, rates dropped!

As of June 14, 2024 our 30 Yr fixed rate is 6.5%, 0 Points, payment $1,896 *(please view below assumptions)

At Methuen Credit Union, we monitor rate fluctuations on daily bases. Given the lack of inventory on the housing market, paired with high mortgage rates, it is difficult times for new home buyers. However, these levels of rates are here to stay for the foreseeable future and every time there is a meaningful rate drop, we get excited.

30-year mortgage rates have dropped to a 2-month low! Triggered by positive inflation news, Wednesday saw a significant plunge in 30-year mortgage rates, dropping nearly two-tenths of a percentage point. Rates for nearly all mortgage types have also fallen, many by double-digit basis points.

We advise our credit union members to keep in mind:

  • Recent Drops: Recent drops in mortgage rates, like the one mentioned, are often influenced by positive economic news, such as favorable inflation reports.
  • Volatility: Mortgage rates can be volatile in the short term, responding to daily economic data releases and market sentiment.

Learn more about our Mortgage Programs and Apply!

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*Rates and/or Payments are based on the following assumptions:
Conventional Loans: $300,000 loan amount and 20% down payment (net equity).
Note that Rates, Payments and/or Fees may be higher based upon your credit score.