Mortgage Rates Drop in Arizona

Big news!  Arizona mortgage rates drop!  For months, the mortgage market has awaited September 18, 2013 to see what the Fed would do regarding their mortgage rate policy.  After waiting and guessing, expecting and anticipating the Fed shocked the market.  They surprisingly decided to continue purchasing mortgage backed securities rather than "tapering" their purchase program as many expected.  As a result, we saw mortgage rates drop. Big Ben and the Fed felt that our economy was not quite … [Read more...]

Arizona Mortgage Rates Shift

Last week kept the lid on our shifting Arizona mortgage rates.  Thankfully, we received a nice breather from the week that increased rates for mortgage lender's nationwide.  Why the extra stress from 2 weeks ago?  2 weeks ago marked the fastest/largest rate increase in mortgage rates in one week ever (and they have been keeping mortgage rates stats since 1971).   However, let's keep this recent rate shift in perspective. Recap of record rate week (week ending 5/21) May 22nd Bernanke comments … [Read more...]

Mortgage Rates Drop – Get Off the Fence

On Friday April 5th bad news was great news if you're a fan of record low Arizona mortgage rates. If  instead, the stock market is what you have on your radar, well turn off the news and check back in next week to see if things get better.  From January 24th of this year up through the last week of March mortgage interest rates were on a slow yet steady escalator gradually lifting them to higher levels. This first week of April 2013 put a staggering halt and dramatic reversal to the … [Read more...]

AZ Mortgage Rates – Comeback Story?

Arizona mortgage rates have slowly and steadily increased over the past 4 weeks.   In fact, 30 year fixed interest rates have gone up by approximately .5%.   Is a return to lower levels in store?  Let's take a look at what is in store for mortgage rates. Now, let's keep this in perspective - a 30 year fixed mortgage interest rate under 4.0% is still an outstanding and historically low mortgage rate.  With that said, potential buyer's and homeowner's looking to refinance have grown very fond … [Read more...]

Arizona Mortgage Rates – How Low?

When I hear people complain about Arizona Mortgage rates closing in on the 4% range all I can think is "Never look a gift horse in the mouth" - a saying I can still hear my mom telling me as a little boy.  It is based on the fact that one of the ways a horse owner judges the quality of its horse is by the stallion's tooth quality.  Therefore, if someone gives you a horse, good manners would have you not judge the gift but be thankful instead.  This saying holds true with today's Phoenix mortgage … [Read more...]