Archive for July, 2018

ARMLS Rent Check™ – June, 2018

Wednesday, July 25th, 2018 azrealtycom No Comments »

Once again, all RENT Check indicators for June 2018 showed sustaining momentum comparing to the previous month, May 2018. Median Lease: $1,485 – Increased from $1,450 previous month. Average Lease: $1,670 – Increased from $1,616 the previous month. Avg. Days on Market: 24 – Decreased from 25 days of the previous month. Closed Rental: 2,228 – Increased from […]

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Benchmark rate increased

Monday, July 9th, 2018 azrealtycom No Comments »

Surprising no one, the Federal Reserve lifted its benchmark rate by a quarter point last week, the second hike this year. With unemployment at 3.8 percent, the lowest since 2000, and inflation creeping higher, the Fed says raising rates gradually will keep the economy from overheating. – Reuters

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Mortgage Getting Some Difficulties

Monday, July 9th, 2018 azrealtycom No Comments »

Lenders face an increasingly difficult market. With mortgage rates up about 80 basis points since last September, refinancing is falling sharply; Purchase applications were also down 2.9 percent from April to May. Lenders may turn to cost cutting as a means of managing their bottom lines.  – Reuters

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