Phoenix-area homebuyers scramble as mortgage rates climb

rising-mortgage-ratesBy Russ Wiles | The Arizona Republic

Mortgage interest rates have jumped over the past two months from levels that now look like once-in-a-lifetime lows.

The spike hasn’t choked off the housing recovery, but it has left plenty of would-be homebuyers, already with a wary eye on rising prices, on edge.

“We almost panicked that prices have gone up so much since November,” said Riannon Bradshaw, who with her husband, Rob, has been looking for a larger home for their Queen Creek family of five. “With interest rates going up, too, it has created a sense of urgency.”

Mortgage rates have bumped up by more than a percentage point in the past two months, with 30-year rates now around 4.6 percent or so.


Related: Mortgage assistance still in demand

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Subdivision in Paradise Valley completed

COURTESY BEDBROCK DEVELOPERS By MacKenzie Brower | YourValley BedBrock Developers, a custom home builder in Paradise Valley, recently completed the last two homes in Cameldale Estates, which is now fully occupied. Cameldale Estates,

Read More »

Maricopa youth center in the works

By Monica D. Spencer | InMaricopa Teens could have a new hangout next year. Plans to create a youth recreation center are in the works thanks to the Maricopa Community Coalition, an organization of local community

Read More »