Rates Blog

Finance Blogs » Rates Blog » Mortgage rates in Phoenix, Arizona

Mortgage rates in Phoenix, Arizona

By Mitch Strohm · Bankrate.com
Thursday, September 3, 2015
Posted: 6 am ET

Mortgage rates in Phoenix mostly rose this week. And Phoenix could be seeing an influx of boomerang buyers within the next few years.

This week's rates

The benchmark 30-year fixed-rate mortgage in Phoenix remained at 4.04%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.15 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.05%.

Boomerang buyers in Phoenix

Hit hard by the real estate crash, Phoenix is finally starting to see an influx of return buyers, notes KTAR News.

Indeed, as people get their credit back in order from the foreclosure crisis, Phoenix is finding more boomerang buyers in the market, as Tina Tamboer of The Cromford Report told KTAR.

Of course, Phoenix has a lack of supply of homes under $250,000, which means it may not see as much of an influx as other cities, notes KTAR.

More rates

The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 3.92% from 3.83%. The benchmark 15-year fixed-rate mortgage fell to 3.21% from 3.23%. The benchmark 5/1 adjustable-rate mortgage remained at 3.25%.

Weekly mortgage survey

Results from Bankrate's Sept. 2 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: 4.04% 3.21% 3.25% 3.92%
Change from last week: N/C -0.02 N/C +0.09
Monthly payment: $791.54 $1,156.20 $718.09 $1,971.64
Change from last week: N/C -$1.60 N/C +$21.59
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)