Mortgage rates in Phoenix fell this week. Meanwhile, the Phoenix commercial real estate market is set to move up in 2016.
This week's rates
The benchmark 30-year fixed-rate mortgage in Phoenix fell to 3.76% from 3.88%, 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 3.78%.
The 2016 Phoenix commercial real estate market
The commercial real estate market in Phoenix is set to rise this year, according to a report from AZBigMedia.
And certain sectors will see a bigger boost than others. The combined healthcare and medical sector, for instance, could see a big bump. It has projects like the North Phoenix KUD Biomedical corridor that's in conjunction with the Mayo Clinic, notes the report.
The industrial and multifamily sectors could also see big gains, according to AZBigMedia.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, fell to 3.54% from 3.75%. The benchmark 15-year fixed-rate mortgage fell to 3.02% from 3.06%. The benchmark 5/1 adjustable-rate mortgage fell to 3.21% from 3.38%.
Weekly mortgage survey
|Results from Bankrate's Feb. 10 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:||3.76%||3.02%||3.21%||3.54%|
|Change from last week:||-0.12||-0.04||-0.17||-0.21|
|Change from last week:||-$11.20||-$3.17||-$15.26||-$48.67|