This is catching the MOAM's attention today….. the 30-year mortgage rate held at 7.40% for a second week, still the highest Freddie Mac weekly average since mid-November 2023. Here's this week's short video with the real numbers for Marblehead and Lynnfield, plus one practical tip from a guy who sells houses and builds things. No hype, no made-up stats. If I can't source a number, you won't see it.
This week's numbers
Mortgage rates (Freddie Mac PMMS®, U.S. weekly averages as of Thursday, Oct. 15, 2026)
- 30-year fixed: 7.40%, unchanged from last week. A year ago it was 6.27%.
- 15-year fixed: 6.71%, down from 6.73%. A year ago it was 5.52%.
That's the highest 30-year PMMS reading since November 16, 2023 (when it was 7.44%), per Freddie Mac's historical data — and now two weeks in a row at 7.40%.
Source: Freddie Mac Primary Mortgage Market Survey · PMMS history CSV
A quick reality check: on a $600,000 30-year loan, principal and interest runs about $3,702 a month at 6.27% and about $4,154 at 7.40%. That's roughly $452 more a month than a year ago, before taxes and insurance. (That's my own arithmetic at the Freddie Mac average rates. Your actual rate depends on your lender and your loan.)
Marblehead, single-family, September 2026 (Massachusetts Association of REALTORS®)
- Median sale price: $1,127,500, up 15.6% from $975,000 in September 2025
- Closed sales: 14 (20 a year ago). Small sample, so one month can look extreme.
- Homes for sale: 28 (down 15.2% from a year ago)
- Months of supply: 2.0
- Cumulative days on market: 53 (36 a year ago)
- Sellers received 93.0% of original list price (99.3% a year ago)
Source: MAR Local Market Update, Marblehead, September 2026 (MLS PIN data, provided by MAR)
Lynnfield, single-family, September 2026 (MAR): this week's rotating town spotlight
- Median sale price: $1,307,000, up 18.3% from $1,105,000
- Closed sales: 9 (13 a year ago). Tiny sample.
- Homes for sale: 21
- Months of supply: 2.3
- Cumulative days on market: 32 (24 a year ago)
- Sellers received 102.7% of original list price (101.3% a year ago)
Source: MAR Local Market Update, Lynnfield, September 2026
So what does it mean? Both towns are still tight at about two months of supply. Marblehead homes are taking longer to sell than a year ago, and sellers there are giving up more off their original asking price. Lynnfield's nine closings are too few to hang a trend on, but sellers there were still getting over list. With rates stuck at 7.40%, buyers have a little more room to negotiate than they did last fall — especially on homes that have been sitting.
The broker-who-builds tip: read the roof
Before you buy — or list — take a hard look at the roof. Check the shingle age and granule loss, peek at the flashing around chimneys and valleys, and look for ice-dam stains on the fascia in winter. A worn roof isn't a deal-killer, but it should be priced in.
This tip is general information, not a substitute for a home inspection, and it doesn't replace advice from your listing agent or a licensed home inspector. If you're planning repairs before a sale, I hold MA Construction Supervisor License CS-047636 and can talk through what's worth fixing.
Buying, selling, or fixing up?
- Search North Shore homes
- Thinking of selling? Get a free estimate
- Renovations and pre-sale fix-ups
- The 29 North Shore towns we serve
Or call or text me at 781-727-6516. I'm available seven days a week.
John Nestor, Nanepashemet Real Estate Services, MA Broker Lic. #136995-RE-B · 328 West Shore Drive, Marblehead, MA 01945 · 781-727-6516 · nanepashemet.com. Renovations: John Nestor, MA Construction Supervisor License CS-047636. Equal Housing Opportunity.
MOAM Out.
No comments:
Post a Comment