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Mortgage rates in Phoenix, Arizona

By Mitch Strohm · Bankrate.com
Wednesday, November 25, 2015
Posted: 6 am ET

Mortgage rates in Phoenix were mixed this week. Meanwhile, sales of luxury homes are strong in the Northeast Valley.

This week's rates

The benchmark 30-year fixed-rate mortgage in Phoenix fell to 4.06% from 4.11%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.2 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07%.

The Phoenix luxury market

Sales of luxury homes -- homes over $500,000 -- in the Northeast Valley of Phoenix were up 9% in October from a year prior, according to a report from Walt Danley Realty, an affiliate of Christie's International Real Estate.

Most of that increase was concentrated in the $500,000 to $1 million range, where sales increased 30%, according to the report.

At the same time, inventory for luxury homes on the market rose 15%. On Nov. 1, there were 2,815 homes for sale in the Northeast Valley, according to the report.

More rates

The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 3.92% from 3.88%. The benchmark 15-year fixed-rate mortgage rose to 3.3% from 3.27%. The benchmark 5/1 adjustable-rate mortgage fell to 3.63% from 3.71%.

Weekly mortgage survey

Results from Bankrate's Nov. 24 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: 4.06% 3.3% 3.63% 3.92%
Change from last week: -0.05 +0.03 -0.08 +0.04
Monthly payment: $793.45 $1,163.42 $752.95 $1,971.64
Change from last week: -$4.77 +$2.41 -$7.41 +$9.58
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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


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