JPMorgan Chase & Co. opens new office

Despite the turmoil in the nation's financial markets, JPMorgan Chase & Co., announced that it is opening a residential mortgage office in Boston's South End neighborhood.

John Hopkins, a South End resident, was selected to manage the office, which will be located at 1313 Washington Street, the company said. Chase operates another mortgage office on Franklin Street in the financial district.

While the housing market is in a slump, prices in the downtown market have held up: condominium prices increased 5.4 percent, to $500,000, in the second quarter, the most current data available.

“We want to provide excellent mortgage expertise for home buyers and real estate professionals in this vibrant area,” Hopkins said in a statement.