Archive for Housing Market Intelligence

Mortgage News – Sept 29, 2017

Friday, September 29th, 2017 azrealtycom No Comments »

The Federal Open Market Committee (FOMC)chose to maintain the target range of federal fund rates at 1% to 1.25%. Although we are still in a competitive market, we may finally see a decline in bidding wars. For the first time in 7 weeks, the average 30-year fixed mortgage rates increased from an average of 3.78% […]

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Mortgage Rates – 9/21/2017

Thursday, September 21st, 2017 azrealtycom No Comments »

CONVENTIONAL 30 Yr 3.875 to 4 APR 4.12 15 Yr 3.125 to 3.375 APR 3.425 ARMS 5 Yr 3.125 to 3.375 APR 3.61 7 Yr 3.25 to 3.75 APR 3.78 FHA/VA 30 Yr 3.5 APR 3.62 15 Yr 3.125 APR 3.12

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ARMLS Rent Check™ – July, 2017

Wednesday, August 30th, 2017 azrealtycom No Comments »

For the month of July 2017, all RENT Check indicators showed sustaining momentum comparing to previous month, June 2017 except closed rental decreased slightly. Median Lease: $1,400 – Increased from $1,395 previous month. Average Lease: $1,582 – Increased from $1,577 previous month. Avg. Days on Market: 28 – Remained the same 28 days of previous […]

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Mortgage Rates – 8/29/2017

Tuesday, August 29th, 2017 azrealtycom No Comments »

CONVENTIONAL 30 Yr 3.875 to 4.125 APR 4.25 15 Yr 3.125 to 3.25 APR 3.3 ARMS 5 Yr 3.125 to 3.375 APR 3.61 7 Yr 3.25 to 3.75 APR 3.78 FHA/VA 30 Yr 3.5 APR 3.62 15 Yr 3.125 APR 3.23

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ARMLS Rent Check™ – June, 2017

Friday, July 21st, 2017 azrealtycom No Comments »

For the month of June 2017, all RENT Check indicators showed great momentum comparing to previous month, May 2017 except DOM increased slightly by 1 day. Median Lease: $1,395 – Increased from $1,383 previous month. Average Lease: $1,577 – Increased from $1,553 just previous month. Avg. Days on Market: 28 – Increased from 27 days of previous month. […]

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Mortgage News – July 21, 2017

Friday, July 21st, 2017 azrealtycom No Comments »

Jobless claims hit a near 5-month low this week, supporting economic growth. Sustained labor market strength could contribute to higher rates. The failure to pass a new health care reform bill has traders questioning possible tax cuts and infrastructure spending, and is supportive of lower mortgage rates. Recent economic data has cast doubt on whether […]

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Arizona Enjoys 6.9% YOY Housing Price Growth

Wednesday, July 19th, 2017 azrealtycom No Comments »

Arizona’s 6.9% trails California (7.1%) and Texas (7.8%) per Freddie Mac House Price Index published on July 6, 2017. It is a value-weighted average of the state indexes where the value weights are based on Freddie Mac’s single-family credit guaranteed portfolio. Giving the much higher property taxes levied by both Texas and California every year, […]

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National Average FICO Score hit 700!

Monday, July 17th, 2017 azrealtycom No Comments »

Credit scores are rising, as the national average FICO score hit 700 for the first time in history. FICO’s VP for scores and analytics said a 700 score is considered “very good credit.” Better credit scores can get buyers more favorable mortgage terms. The chief economist at property information firm CoreLogic says “the market continues […]

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Housing News – July 14, 2017

Friday, July 14th, 2017 azrealtycom No Comments »

Job growth surged to 222,000 in June, and jobless claims were also down this week. Strong employment keeps the Fed on track to raise rates again this year. The producer price index, a key gauge of inflation, was up 0.1% last month. Fed officials are closely watching inflation, which pressures mortgage rates higher. In testimony […]

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Mortgage Interest Rates Update – July 8, 2017

Saturday, July 8th, 2017 azrealtycom No Comments »

CONVENTIONAL 30 Yr 3.875 to 4.125 APR 4.26 15 Yr 3.25 to 3.5 APR 3.61 ARMS 5 Yr 3.125 to 3.375 APR 3.61 7 Yr 3.25 to 3.75 APR 3.78 FHA/VA 30 Yr 3.625 APR 3.71 15 Yr 3.25 APR 3.37

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