Thursday, December 11, 2008


Interest Rates For Last 6 Weeks
December 18, 2008 - The current mortgage interest rates have just fell to under 5.0%! Mortgage rates have never been lower, with the good news that the trend will probably hold or fall a little more in the next couple of weeks, but who knows how long that will continue. The fact is that we have historically extremely low interest rates. You would be crazy not to take advantage of this situation, with home prices that are at 2002 prices in many cases, and still a great supply of homes to choose from like you haven't seen in 2 decades.

Well this combination has been spurring Home Buyers to start making offers left & right. The number of homes going under agreement has been steady in eastern Massachusetts. We have been getting our Buyers some really great deals on real estate. We even have out-of-state clients who are buying up multiple properties as investments - sight unseen! (except for photos from MLS)

Click Here to Apply for a Pre-Approval from Eastern Bank Mortgage

Thursday, December 04, 2008

Home Sales up for the Second Straight Month as Affordability Drives Activity

On Tuesday, November 25, 2008, the Massachusetts Association of REALTORS reported that single-family home sales were up 6.6 percent in October 2008 compared to the same time last year. This is the second straight month of year-over-year increases in monthly home sales in 2008. Condominium sales were only down 1.0 percent in October compared to the same time last year. The median price for a single-family home in October was $294,950, while the median price for a condominium was $250,000.