Archive for Housing Market Intelligence

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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Housing News – June 30, 2017

Friday, June 30th, 2017 azrealtycom No Comments »

Four out of five major global central banks are talking about tightening policy, including raising rates. Market reaction to the news could pressure rates higher. Comments this week by Fed members, including Fed Chair Janet Yellen, have investors speculating that another Fed rate increase is likely this year. First quarter GDP growth was revised higher […]

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Mortgage Interest Rates Update – May 26, 2017

Friday, May 26th, 2017 azrealtycom No Comments »

CONVENTIONAL 30 Yr 3.875 to 4.125 APR 4.24 15 Yr 3.25 to 3.5 APR 3.56 ARMS 5 Yr 3.125 to 3.5 APR 3.61 7 Yr 3.25 to 3.75 APR 3.78 FHA/VA 30 Yr 3.5 APR 3.6 15 Yr 3 APR 3.13

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ARMLS RENT Check™ – April, 2017

Friday, May 26th, 2017 azrealtycom No Comments »

For the month of April 2017, all RENT Check indicators showed great momentum comparing to previous month, March 2017. Median Lease: $1,350 – Healthily increased from $1,328 previous month. Average Lease: $1,546 – Aggressively increased from $1,470 just previous month. Avg. Days on Market: 27 – Decreased from 31 days of previous month. Rent Check Quotient™: 2 : 10 […]

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Housing News – May 19, 2017

Friday, May 19th, 2017 azrealtycom No Comments »

Stocks plummeted and bonds rallied after events in Washington, D.C., spooked investors. The rally in bonds has helped to improve mortgage rates. The investigations into Trump’s recent activities have occupied investors’ attention. Other factors, such as possible Fed rate hikes, have taken a back seat. The labor market appears to be near full strength as […]

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