"Although interest rates are still down a bit from the highs we saw last year, they're a far cry from the historic lows during the pandemic," Chip Lupo, a WalletHub analyst, said in the report.
"Massachusetts ranks in the middle of our study primarily because of its diverse economy, which includes strong sectors such as education and health care, which helps buffer against fluctuations in mortgage interest rates," Lupo wrote.
"The changes in Connecticut and Rhode Island may be attributed to a slowdown in the housing market, which might reduce demand for mortgages," Lupo said.
"Mortgage rates are influenced by factors such as economic conditions, inflation, Federal Reserve policies, bond market yields, borrower credit risk, and the type and term of the loan," Lupo explained.
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