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Scottsdale Mortgage Rates Climb According to Freddie Mac Survey

May 24, 2013 by Carmen Brodeur

Scottsdale mortgage rates have recently been kept low to encourage home sales and boost the economy. Now that sales are up, household debt is down and the real estate market is gaining speed every day, we are beginning to see a scottsdale mortgage ratescontinued increase in the average mortgage rates. Though the rise is small, Scottsdale mortgage rates are expected to climb higher over the year, and the chance to buy Scottsdale homes with record-low interest rates may not last much longer.

Survey results released last week by Freddie Mac show increases in the average 15-year and 30-year fixed-rate mortgage rates (FRMs). The average 15-year FRM rate was up to 2.69 percent from 2.61 percent the previous week, while the 30-year FRM rate went from 3.42 percent to 3.51 percent. Adjustable rate mortgages (ARMs) have seen similar increases, with 5-year ARM rates climbing from 2.58 percent to 2.62 percent and 1-year ARM rates moving from 2.53 percent to 2.55 percent.

Frank Novak, chief economist at Freddie Mac, has attested these rising rates to a large amount of retail sales and consumer activity, as well as the recent decline of mortgage delinquencies.

Keep up with Scottsdale real estate trends by visiting our website, or contact me by phone or email. I can be reached at (602) 791-0536 or at Carmen@TopScottsdaleHomes.com.

Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
(602) 791-0536
Carmen@TopScottsdaleHomes.com
www.TopScottsdaleHomes.com

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Carmen Brodeur Scottsdale RealtorVoted in the Top 3 Real Estate Agents in Arizona by the readers of Ranking Arizona Magazine, 2015-2022. Her background as an Attorney gives her special expertise with contracts and negotiations. Carmen has a proven track record of success with buyers and sellers in Scottsdale.

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Your Scottsdale Real Estate Connection

Whether you are buying or selling, we are committed to providing you with exceptional service. Put our experience to work for you. Contact Carmen Brodeur today at Carmen@TopScottsdaleHomes.com

Our Office

We are conveniently located in North Scottsdale.

Trillium Properties, LLC
20715 N. Pima Road, Suite 108
Scottsdale AZ 85255
(602) 791-0536
Carmen@TopScottsdaleHomes.com
 
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