Rates Blog

Finance Blogs » Rates » Mortgage rates in Phoenix, Arizona

Mortgage rates in Phoenix, Arizona

By Mitch Strohm · Bankrate.com
Thursday, July 24, 2014
Posted: 12 pm ET

Mortgage rates in Phoenix mostly fell this week. Meanwhile, the area's real estate market is facing some tough times.

This week's rates

The benchmark 30-year fixed-rate mortgage in Phoenix fell to 4.19 percent from 4.27 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.11 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.26 percent.

Home sales slip in Phoenix

Many prospective buyers in Phoenix are on the fence about purchasing a home right now. They're waiting to see what happens with the real estate market, according to CNBC 25. That's because the market is pretty weak.

Demand for homes is down, and the number of active listings is up 69 percent. Some would-be buyers are still repairing their credit from the foreclosure crisis, while others don't have enough equity in their homes to sell.

People simply aren't buying in Phoenix right now, notes CNBC.

More rates

The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, fell to 4.17 percent from 4.21 percent. The benchmark 15-year fixed-rate mortgage fell to 3.42 percent from 3.48 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.75 percent from 3.63 percent.

Weekly mortgage survey

Results from Bankrate's July 23 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in Phoenix.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4.19% 3.42% 3.75% 4.17%
Change from last week: -0.08 -0.06 +0.12 -0.04
Monthly payment: $805.92 $1,173.08 $764.14 $2,031.91
Change from last week: -$7.68 -$4.84 +$11.28 -$9.71
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
June 24, 2014 at 6:30 pm

If the demand for home purchases is down, and it continues that way for the rest of the year, what does that mean for Mortgage rates? Will they go up, down, or hover around the current rates?

Prem Sagar
March 04, 2014 at 6:05 am


What is rate of Auto loan or Home loan?

Can i have a call on 8875002242


Add a comment

(Comments may take 5-10 minutes to appear)