Arizona's Finest Real Estate Blog

Supply Continues to Rise in the Middle

Supply Continues to Rise in the MiddleSeller Price Reductions up 46% and 61% in these Price Ranges For Buyers:Overall supply is down 9.6% compared to last September.  At first glance that’s nothing new.  However, for those of you ...

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Weekly Economic Update - 7.2.18

Good Morning,  I hope you had a great weekend.  RATE MOVEMENT (from prior week) – NO CHANGE  There were few surprises in the data released last week or in the other economic news.  It was a quiet week, and mortgage rates ...

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Weekly Economic Update 6.27.18

Good Morning, I hope you had a great weekend. RATE MOVEMENT (from prior week) – NO CHANGE After the prior week’s packed economic calendar, last week there was virtually no significant news except for some housing market data.  It ...

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Is Greater Phoenix “Overvalued”?

Is Greater Phoenix “Overvalued”? Mortgage Payments Are Lower Than They Were 13 Years Ago For Buyers: Interest rates have been increasing along with the inflation rate as of late, which has spawned a string of headlines about ...

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Weekly Economic Update 6.12.18

Good Morning, I hope you had a great weekend. RATE MOVEMENT (from prior week) - HIGHER Following the prior week's stronger than expected labor market and manufacturing data, the reports released last week continued to suggest that the economy is ...

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Weekly Economic Update - 6.5.18

Good Morning, I hope you had a great week.    RATE MOVEMENT (from prior week) - SLIGHTLY LOWER News from Italy was positive for mortgage rates last week. However, this was partially offset by stronger than expected U.S. labor market data. ...

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Weekly Economic Update - 6.1.18

Good Morning, I hope you had a great week.    RATE MOVEMENT (from prior week)  - SLIGHTLY LOWER Geopolitical events related to Italy and North Korea were the primary influences on mortgage rates last week.  The U.S. economic ...

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Weekly Economic Update - 5.21.18

Good Morning, I hope you had a great weekend.   RATE MOVEMENT (from prior week)  HIGHER!  **Rates are at a 7 Year High!** The market moving economic news last week was viewed as negative for mortgage rates.  This time the ...

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Weekly Economic Update - 5.2.18

   RATE MOVEMENT (from prior week) - UNCHANGED Mortgage rates climbed higher during the first half of last week, then reversed direction during the second half to end nearly unchanged.  The movement didn't necessarily correlate ...

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Weekly Economic Update - 4.23.18

Hello, I hope you had a nice weekend.    RATE MOVEMENT (from prior week) ~ INCREASED! Strangely, mortgage rates moved higher during the second half of the week without a clear cause.  The economic data released this week produced ...

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MLS Sales Outperform non-MLS Sales in Frenzy Market

MLS Sales Outperform non-MLS Sales in Frenzy Market Supply Supply Under $200K Down 36% Over Last YearFor Buyers: Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the ...

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Weekly Economic Update - 4.9.18

Good Afternoon, I hope you had a nice weekend.     RATE MOVEMENT (from prior week)  - UNCHANGED  Investors were focused on Friday's Employment report and the policy on tariffs last week.  Despite unexpected results ...

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Weekly Economic Update - 4.2.18

Good Morning, I hope you had a nice weekend.    RATE MOVEMENT (from prior week) UNCHANGED  It was a relatively quiet holiday-shortened week for mortgage markets.  The economic data contained no major surprises and caused ...

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Weekly Economic Update - 3.28.18

Good Afternoon,  I hope you are  having a great week so far.  RATE MOVEMENT (from prior week) UNCHANGED Although the stock market suffered large losses last week, mortgage markets were relatively quiet.  The two primary ...

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Weekly Economic Update - 3.20.18

Good Afternoon, I hope you had a great weekend.    RATE MOVEMENT (from prior week) SLIGHTLY LOWER Last week was relatively quiet for mortgage rates ahead of the Fed meeting which takes place tomorrow.  The primary surprise was a ...

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17% of Sales are Closing Over Asking Price

Median Sale Price up $20,000 over March 2017 17% of Sales are Closing Over Asking PriceFor Buyers:The percentage of seller concessions awarded to buyers has dropped down to 24% in the first quarter of 2018 after 2.5 years of consistently landing ...

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Weekly Economic Update - 3.12.18

Good Evening, I hope you had a great weekend and survived Monday.    RATE MOVEMENT (from prior week) SLIGHTLY HIGHER A wide range of events influenced mortgage rates last week, including important labor market data, a European Central ...

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