Are mortgage rates lower now than a year ago?

No. For the week of August 6, 2026, Freddie Mac put the average 30-year fixed at 6.69%, an 11-month high. A year earlier it was 6.63%. Rates are slightly higher year over year, not lower, so waiting for a rate drop has not paid off in 2026.

What is the mortgage rate lock-in effect, or the golden handcuffs?

It is the reluctance to sell a home financed at a very low rate, because replacing it means borrowing at today's higher rate. The handcuff is not the low rate itself, it is the gap between your old payment and what you would pay now. That pool is shrinking nationally: the share of owners with a rate under 6% fell from 92.7% in mid-2022 to 80.3% by mid-2025.

Is now a good time to sell a home in Greater Boston?

It depends on your situation, but the market still has room. As of July 2026 Boston homes were selling near 99% of asking with under two months of supply, and tight suburbs like Arlington and Newton remained seller's markets. The froth is off the top, so pricing to today's market rather than to 2022 is what gets a home sold.

Should I wait for mortgage rates to fall before I list?

Probably not, if you have a real reason to move. Rate dips have been short and unpredictable. A brief drop to about 6% early in 2026 handed Boston-area buyers roughly $46,000 in buying power, then reversed within months. You cannot list a house fast enough to time a dip, so base the decision on your own numbers instead.

How do I know if my golden handcuffs math has flipped?

Run three lines. One, the extra monthly payment on the new mortgage at today's rate. Two, the monthly cost of the move you keep postponing. Three, the offset from selling into a strong market and, if you downsize, borrowing less. When line two plus the offset gets close to line one, staying is mostly habit.

Greater Boston home valuation

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