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Boston Herald
Boston Herald
18 Apr 2024
Staff And Wire Reports


NextImg:Ticker: Beer back on the Greenway; Mortgage rate climbs above 7%

Somerville’s Nightshift Brewery has scored a pop-up beer garden on the Rose Kennedy Greenway with a deal to open at Dewey Square Park this spring starting May 8.

The so-called Night Shift on The Greenway will be open through October and will include programs like fitness classes, events, and festivals.

“We’re thrilled to bring Night Shift to The Greenway, offering a fun, unique spot for Bostonians and visitors to enjoy our delicious beers amidst the city’s vibrant outdoor scene,” said Michael Oxton, Co-Founder of Night Shift Brewing

Eileen Ongthe Greenway’s Director of Programs and Outreach, said, “To have Night Shift as a focal point on Dewey Square with our Greenway mural, food trucks, events, and festivals is an exciting addition to the park. We look forward to their partnership.”

In addition to Nightshift, the Trillium Garden on The Greenway opened Tuesday for its eighth season at the corner of High Street and Atlantic Avenue, across from Rowes Wharf.

Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months.

The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.39%.

“Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future,” said Sam Khater, Freddie Mac’s chief economist.

After climbing to a 23-year high of 7.79% in October, the average rate on a 30-year mortgage had remained below 7% since early December amid expectations that inflation would ease enough this year for the Federal Reserve to begin cutting its short-term interest rate.