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Mortgage rates in Phoenix, Arizona

By Mitch Strohm · Bankrate.com
Thursday, March 26, 2015
Posted: 7 am ET

Mortgage rates in Phoenix dropped this week. Meanwhile, home prices and demand are both up in the area.

This week's rates

The benchmark 30-year fixed-rate mortgage in Phoenix fell to 3.75 percent from 3.82 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.03 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.8 percent.

The Phoenix real estate market picks up

The median sales price of a single-family home increased by 5.6 percent in January 2015 from a year prior, according to the latest report from the W.P. Carey School of Business at Arizona State University.

In addition, there are indications that the spring real estate season could be stronger this year than last for Phoenix.

That's because buyers were fairly active in February and March. And demand for homes is up in the area, according to the report.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and up, fell to 3.83 percent from 3.92 percent. The benchmark 15-year fixed-rate mortgage fell to 2.95 percent from 3.15 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.21 percent from 3.38 percent.

Weekly mortgage survey

Results from Bankrate's March 25 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: 3.75% 2.95% 3.21% 3.83%
Change from last week: -0.07 -0.2 -0.17 -0.09
Monthly payment: $764.14 $1,135.50 $714.47 $1,950.17
Change from last week: -$6.54 -$15.77 -$15.26 -$21.34
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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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