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...]

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...]

Can I Choose My Arizona Appraiser?

I get this question constantly.   Can I pick my appraiser for my Arizona mortgage?  In this day and age of regulated and over regulated mortgages this question has the same chance of being answered with a "yes" as "can I pick what auditor at the IRS looks at my tax returns."  The answer to both questions is an emphatic, stubborn and immovable "NO WAY JOSE." Regulators stripped Phoenix area mortgage lenders from being able to select their own appraiser long long ago.  This is true for FHA, VA, … [Read more...]