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Mortgage rates in Phoenix, Arizona

By Mitch Strohm · Bankrate.com
Thursday, May 21, 2015
Posted: 7 am ET

Mortgage rates in Phoenix mostly rose this week. And there's new residential construction on its way to Phoenix's West Valley.

This week's rates

The benchmark 30-year fixed-rate mortgage in Phoenix rose to 4.06 percent from 4.04 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.16 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.03 percent.

New subdivisions in Glendale

There are four new subdivisions being constructed in Glendale, a suburb of Phoenix, according The Glendale Star.

That construction will bring 300 new homes to the market by the end of this year, giving prospective homebuyers additional options in the area.

The news is a boon for a city plagued with low inventory and quickly rising home prices, notes KTAR News.

More rates

The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 4.29 percent from 4.08 percent. The benchmark 15-year fixed-rate mortgage remained at 3.25 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.25 percent from 3.13 percent.

Weekly mortgage survey

Results from Bankrate's May 20 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% 3.25% 3.25% 4.29%
Change from last week: +0.02 N/C +0.12 +0.21
Monthly payment: $793.45 $1,159.40 $718.09 $2,061.17
Change from last week: +$1.91 N/C +$10.91 +$51.71
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6 Comments
Jordan
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

Hi,

What is rate of Auto loan or Home loan?

Can i have a call on 8875002242

Thanks
Prem

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