Phoenix-area foreclosures are down again - There was more good news for the Phoenix-area housing market in June, according to a recent ASU report. The rate of foreclosures continued to drop for the fourth consecutive month. Foreclosures represented 31% of the existing-home transactions in the Phoenix-area market in June, according to ASU, down from 35% in May, 36% in April, 38% in March, and 43% in January and February. Read article:
http://www.azcentral.com/business/realestate/articles/2011/07/13/20110713phoenix-foreclosures-down-again.html
Mortgage Rates: Lingering Low Mortgage Rates Remain a Great Deal - A survey of wholesale and direct lenders shows that, except for jumbo 30-year fixed mortgage rates, all other mortgage rates have remained stable for the past week. Current 30-year fixed mortgage rates are at 4.250% and 15 year fixed mortgage rates are at 3.500%. FHA continues to be the leader for lending these days with its low down payment requirements and easier credit qualifying. Jumbo 30-year fixed mortgage rates fluctuated this past week and currently are at 5.000%. Read article:
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