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AZ Real Estate Financing, Phoenix, AZ (2026)

08/20/2026

Highest Mortgage Rates in Just Over a WeekWhile Freddie Mac's weekly mortgage rate survey may show rates moving slightly lower this week, today's rates are actually higher than they were at the same time last week (6.76% vs 6.69%). Financial news continued to focus on yesterday's announcement of Treasury buybacks after Secretary Bessent spoke on CNBC this morning, but today's bump in rates had more to do with fuel prices. Treasury yields serve as an almost perfect proxy for intraday rate movement with 10yr yields often seen as the most common at-a-glance benchmark for mortgage rate movement (i.e. they tend to move in the same direction by roughly similar amounts). 10yr yields and oil prices were at the lows of the day at 1am. Oil rose fairly quickly through 8am ET and Treasury yields followed. Both peaked at exactly the same time and then remained broadly sideways all day. This isn't as scandalous or interesting as pretending today's rising rates had something to do with market backlash over the Treasury announcement, but it's the more accurate way to make sense of the day-over-day movement.

While Freddie Mac's weekly mortgage rate survey may show rates moving slightly lower this week, today's rates are actually higher than they were at the same time last week (6.76% vs 6.69%). Financial news continued to focus on yesterday's announcement of Treasury buybacks after Secretary...

08/17/2026

Mortgage Rates Start Week HigherAfter ending last week near the lowest level since July 17th, mortgage rates are moving up to start the new week. Motivations are familiar. Escalation in U.S./Iran tensions is pushing fuel prices higher and bond yields continue to correlate. Bond yields correlate with consumer interest rates with near perfection. In mortgage-specific terms, the average top-tier 30yr fixed rate moved up 0.02% today to 6.73%. This is still much lower than the most recent high of 6.85%, but not quite as low as last Thursday's 6.69%.

After ending last week near the lowest level since July 17th, mortgage rates are moving up to start the new week. Motivations are familiar. Escalation in U.S./Iran tensions is pushing fuel prices higher and bond yields continue to correlate. Bond yields correlate with consumer interest rates with ne...

08/12/2026

Mortgage Rates Back at 3 Week LowsMortgage lenders set rates around 10am ET every day, but the bond market dictates the day to day changes, and bonds were on the move throughout the overnight trading hours. Granted, the movement wasn't extreme, but much like yesterday, it suggested a bit of optimism heading into this morning's main event: the release of July's Consumer Price Index (CPI). CPI is one of the two big inflation reports on any given month (the other being PCE) and it has more potential to cause a reaction because it comes out 2 weeks before PCE. Given that last month's CPI showed a sharp drop in inflation and that July's fuel prices had bounced back up, the market was very focused on what the data would actually reflect. As it happened, forecasters nailed it. All the top-line numbers were right in line with consensus estimates. This is apparently the result that the bond market had been positioning for. There was no additional improvement in bonds after the data, but arguably a fair amount of improvement in anticipation of just such a result. The net effect is that the average top-tier 30yr fixed rate returned precisely in line with the 3-week lows seen last Friday. [thirtyyearmortgagerates]

Mortgage lenders set rates around 10am ET every day, but the bond market dictates the day to day changes, and bonds were on the move throughout the overnight trading hours. Granted, the movement wasn't extreme, but much like yesterday, it suggested a bit of optimism heading into this morning& #39...

08/10/2026

Mortgage Rates Rise Modestly From 3 Week LowsAs of last Friday, average top-tier mortgage rates hit their lowest levels since July 20th. If they'd managed to drop even 0.01% today, it would have been a new 3-week low. As it stands, rates moved modestly higher in response to higher oil prices. Throughout the Iran war, oil and rates have had a broadly strong correlation because oil informs inflation expectations and inflation is a key input for the rate market. Even after today's rise, rates remain much closer to the lower end of the range over the past 3 weeks. Logically, any positive developments in the war or diplomacy should result in lower rates. Beyond that, there's separate volatility potential related to inflation reports that come out later this week, but as always, that could be for better or worse depending on the outcome of the reports.

As of last Friday, average top-tier mortgage rates hit their lowest levels since July 20th. If they'd managed to drop even 0.01% today, it would have been a new 3-week low. As it stands, rates moved modestly higher in response to higher oil prices. Throughout the Iran war, oil and rate...

08/07/2026

Mortgage Rates End Week at LowsMortgage rates dropped moderately today after the latest jobs report showed much lower jobs created than expected. The monthly jobs report is one of the most--if not THE most--important pieces of economic data to the rate market on any given month. If the numbers are close to forecasts, there isn't always a big reaction. Today's numbers were quite far from forecasts for some parts of the report, but slightly offset by others. The net effect was a decent improvement in the underlying bond market. Because mortgage rates are based on bonds, rates dropped accordingly. The average top-tier 30yr fixed rate moved down from 6.77 to 6.74--the lowest since July 20th.

Mortgage rates dropped moderately today after the latest jobs report showed much lower jobs created than expected. The monthly jobs report is one of the most--if not THE most--important pieces of economic data to the rate market on any given month. If the numbers are close to forecasts, there isn& #3...

08/06/2026

Mortgage Rates Slightly Higher Ahead of Jobs ReportMortgage rates rose modestly on Thursday, with multiple lenders making mid-day adjustments in response to bond market volatility. Bonds remain highly attuned to war-related developments and the impact on oil prices which, in turn, have a bearing on inflation implications. Higher inflation begets higher interest rates, all else equal. In addition to the oil/inflation narrative, bonds also came under some pressure as Alphabet announced a large corporate bond offering. Like anything in the market, bond prices change in response to supply and demand. If a big corporate bond competes for investor demand, it can indirectly lower the demand for the bonds that underlie mortgage rates. When bond prices fall, rates rise. The good news is that the adjustment is very small in the bigger picture. Additionally, yesterday's rates were the best in more than 2 weeks. In other words, today's rates are modestly higher than the 2-week lows. There's potential for volatility tomorrow, for better or worse, in response to the monthly jobs report. And of course, war-related headlines create ongoing risk/opportunity for movement in either direction.

Mortgage rates rose modestly on Thursday, with multiple lenders making mid-day adjustments in response to bond market volatility. Bonds remain highly attuned to war-related developments and the impact on oil prices which, in turn, have a bearing on inflation implications. Higher inflation...

08/03/2026

Mortgage Rates Roughly Unchanged Despite Bond Market ImprovementMortgage rates had a tough day on Friday, largely in response to bond market volatility surrounding heavy forex trading as a part of US/Japan efforts to prop up Japanese currency (not a common source of inspiration for rates). Higher oil prices didn't help. As we begin the new week, de-escalation in the Iran war pushed oil prices much lower. As has been the case frequently during the war, bond yields followed oil prices in relative lock-step. While it's almost universally true that lower bond yields beget lower mortgage rates, there are occasionally days where the correlation isn't as strong as normal. Today was one of them. Whether or not any given lender was lower than Friday depends largely on whether they raised rates in the middle of the day on Friday. The average lender is still fairly close to the rates seen on Friday morning. Lenders who raised rates on Friday afternoon are generally a bit lower today.

Mortgage rates had a tough day on Friday, largely in response to bond market volatility surrounding heavy forex trading as a part of US/Japan efforts to prop up Japanese currency (not a common source of inspiration for rates). Higher oil prices didn't help. As we begin the new week, de...

07/31/2026

Mortgage Rates Back Near Long-Term HighsTo be fair, mortgage rates haven't been far from their long-term highs in over a week, but today's 30yr fixed index level of 6.83% is functionally equivalent to the actual long-term high of 6.85% seen on July 23rd. Higher rates are driven by weakness in the bond market. The latter can happen for many reasons. Sometimes those reasons are as simple as an economic report showing stronger job growth or higher inflation. Other times, the reasons are more esoteric. Today's bond market weakness may have been modestly influenced by this morning's Employment Cost Index, but the bigger issue was definitely in the esoteric category. It involved behind the scenes intervention in forex on the part of the Treasury Department and its Japanese counterpart (Japan's Ministry of Finance). In not so many words, Japan occasionally sells dollar-denominated bonds in order to buy Yen-denominated bonds in order to make its own currency more valuable. Today, the U.S. did the same in order to take some control of that narrative and have a say in the bonds that were being sold. Either way, bond selling = higher rates, all else equal. [thirtyyearmortgagerates]

To be fair, mortgage rates haven't been far from their long-term highs in over a week, but today's 30yr fixed index level of 6.83% is functionally equivalent to the actual long-term high of 6.85% seen on July 23rd. Higher rates are driven by weakness in the bond market. T...

07/30/2026

Mortgage Rates Sideways to Slightly LowerIt's not at all uncommon for mortgage rates to experience microscopic movement in either direction on any given day. In fact, it's probably the most common eventuality over time. In that sense, today was unremarkable with the average lender moving just a hair lower versus yesterday's latest levels. But in another sense, it's very good news. After yesterday's market reaction to the Fed press conference, there was a risk that bonds (which dictate rates) would continue their protest. The absence of additional drama suggests the reaction was "one and done." This morning's economic data had a small chance to cause a reaction in rates, but it turned out to be uneventful and possibly even helpful. [thirtyyearmortgagerates]

It's not at all uncommon for mortgage rates to experience microscopic movement in either direction on any given day. In fact, it's probably the most common eventuality over time. In that sense, today was unremarkable with the average lender moving just a hair lower versus yesterday's lat...

07/29/2026

Mortgage Rates Slightly Higher Despite No Fed Rate HikeHeading into today's Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there's a catch. Rates exist on a spectrum defined by "duration." Specifically, there are different rates for different lengths of loans. The Fed Funds Rate is relevant to loans of the shortest duration (mostly overnight lending between the largest financial institutions). Mortgage rates, meanwhile, are more closely linked to longer term loans--bonds with durations that average 5-7 years. When a Fed decision or the Fed outlook is actively being traded, we often see big divergences between the shortest-term rates and the longest. Today's reaction is a prime example. 2-year Treasuries (short enough to get some benefit from the Fed holding rates steady) fell noticeably. But longer term rates launched higher. Why? Warsh basically told the market that he doesn't need to hike if the market is going to do it for him. And because short-term bonds have to stay more closely linked to the Fed Funds Rate, it's longer-term bonds that can actually accommodate Warsh's request. Mortgages are long enough to see a bit of damage from this trading dynamic, thus the moderate increase in today's average 30yr fixed rates. It's also worth mentioning that the day got off to a challenging start for rates due to overnight increases in oil prices (which have been closely linked to rate movement during the Iran war).

Heading into today's Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there's a catch. Rates exist on a spectrum defined by "duration." Specifically, there a...

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