Will Falling Mortgage Rates Boost the Market?
Rates just dropped to their lowest point in more than a year.
Mortgage rates have dropped to their lowest levels in more than a year. This could give the Phoenix-area housing market a fresh spark by motivating buyers who’ve been on the sidelines.
Highlights from this week’s report:
Mortgage rates recently dropped to their lowest level in over a year.
30-year mortgage rates are averaging 6.19%, down from 7.02% in January.
Falling rates appear to be giving the housing market new momentum.
Even so, affordability remains a challenge for a lot of buyers in The Valley.
Overall, easing rates are helping shift the market toward a more balanced environment between buyers and sellers. This could set the stage for 2026 as well.
