Today, the Fed made a somewhat suprise move and made a .75 rate cut ahead of their scheduled meeting on January 30th. 

So what does this mean?  Well, as a home buyer you won’t see the effects right away.  It sometimes takes a few months before this rate cut lowers your mortgage interest rate.  But, with rates already at two year lows and more rate cuts to come this should at least pump some blood back into the real estate market.

This definitely doesn’t mean that the banks will begin giving out bad loans again.  They have learned from their mistakes.  However, it does mean that if you are a qualified buyer with a good credit score and some cash to put down, you will get a very, very good rate.

The Quiet Man Pub, a Southie watering whole since Whitey was running the streets, is being bought on February 6th by Paul Mustone, a South Boston developer.  His plan is to “build a 100,000-square-foot residential complex on the site. The Residences at 11 West Broadway will house 64 condominiums and will have 5,000 square feet of street-level retail space,” he said.

Many local residents who have been patrons of the Quiet Man Pub for years say it’s the end of an era. 

“It’s too bad,” said David Converse, a 37-year-old electrician from South Boston.  “It’s the end of the neighborhood,” he said.

Others do not see it this way.  With the recent development of the MaCallen and Court Square Press lofts by Pappas Properties and the current construction next door of the Allele, this neighborhood is being re-born, not destroyed.

Article Source: The Boston Herald’s Christine McConville

Picture Source: Patrick Whittemore