Mortgage rates in Phoenix rose this week. Meanwhile, the Phoenix real estate market seems to be heating up.
This week's rates
The benchmark 30-year fixed-rate mortgage in Phoenix rose to 3.83 percent from 3.75 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.01 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.79 percent.
Home sales jump up in Phoenix
The Phoenix real estate market seems to be rebounding. In the first quarter of this year, home sales jumped up by 10.5 percent from the year prior, notes KTAR News.
And in March, home sales saw a 17.7 percent improvement from March 2014.
That's a boon for sellers in the area, notes KTAR.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 3.92 percent from 3.83 percent. The benchmark 15-year fixed-rate mortgage rose to 3.05 percent from 3.03 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.08 percent from 3.04 percent.
Weekly mortgage survey
|Results from Bankrate's April 22 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:||3.83%||3.05%||3.08%||3.92%|
|Change from last week:||+0.08||+0.02||+0.04||+0.09|
|Change from last week:||+$7.55||+$1.59||+$3.58||+$21.59|