Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power.

There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.

The Greater Boston Association of Realtors has released the local market updates for the first quarter of 2016 and aside from some high condominium pricing; the real estate market in Wellesley is not looking too bad!?
While prices saw a small increase of 6 percent over last year, that did not affect sales negatively.

The Greater Boston Association of Realtors has released the local market updates for March 2016 and seeing how single-home and condominium sales increased despite an increase in pricing, it is safe to say its a sellers market.
The supply of homes for sale in March was significantly higher than February, indicating that more sellers are deciding to list their homes. However, while prices were way up over last year, the sales have not suffered.

This 17,306 sq .ft. Tuscan residence is perfectly positioned on 3.32 acres of land. The unsurpassed attention to detail, materials, and craftsmanship is evident immediately upon entering the gates. Comfortable living areas are carefully positioned within home while multiple verandas overlook the lawns, tennis court, and a diving pool equipped with spa and slide. 

If you are a college student looking for off-campus housing for the coming semester and are planning to live within a 1 mile radius from your school, brace yourself!

RadPad, a startup specializing in apartment searches, compiled a list of?50 universities that have the most expensive off-campus apartments.?Boston area schools took up a full fifth of the chart. The rankings are based on the average rent for a 2 bedroom apartment within 1 mile from the campus.

Good morning and happy Wednesday!

Here’s a summary of recent transactions and personnel news within Greater Boston’s real estate community.

1.    Chevron Partners has acquired the historic Sears Crescent building in Boston’s Government Center neighborhood from Copley Investments for $23.8 million. The 50,300-square-foot brick-and-beam building is fully leased to 14 tenants and is the third acquisition for Chevron Partners in Boston since [...]

Westbrook Partners has arrangements to construct a 17 story, 250 suite hotel in Chinatown, and will be filing its proposal to the city officials.

The hotel project would be 181 ft. high at 79 Essex St., a 8,095 sq. ft. corner space at the cross-section of Essex and Oxford boulevards that right now is home to a warehouse and office building.

The people of Boston are genuinely grateful for the recent reopening of an amazingly renovated Government Center T station in the heart of downtown Boston. Well, it finally happened!

But what about the other transportation projects that have been in the planning stage for a prolonged period of time? There are 5 of those that the area could urgently utilize.

An exceptional city-wide celebration and showcase of Newton's talented citizens and organizations.

The city of Boston is providing $28 million in federal and local money to fund the development and preservation of hundreds of affordable housing units across six city neighborhoods.

A new report from real estate search engine Zillow found that 7.7 percent of Cambridge households earning $350,000 or more annually are headed by someone at least 55 years old. That means that the People?s Republic has the second-highest concentration of affluent baby boomers in the U.S., behind only the Washington, D.C., suburb of Arlington, Va.

Jamaica Plain’s Old Goddard House to Become Part of Bigger Apartment Complex

Plans have been afoot for a while to remake the old Goddard House nursing home at 201 South Huntington Avenue in Jamaica Plain into a residential.

Cambridge and Somerville House Prices: How They've Changed Since 2006

Kendall Square saw the biggest price jump