Mortgage refinance interest rates are seeing notable fluctuations this October, with the average 30-year fixed refinance rate hovering around 7.72%, according to data from Bankrate. While this is slightly lower than the highs seen earlier in the year, it’s still considerably above the historically low rates of recent years. Experts suggest comparing multiple loan offers…
Recent proptech advances are transforming Arizona real estate, boosting search, management, financing, and investment insights statewide.
**Bureau of Labor Statistics Recalls Workers to Prepare Key Inflation Data** The Bureau of Labor Statistics (BLS) has requested that some employees return to work, despite ongoing government funding uncertainties, in order to finish gathering and analyzing data for the upcoming September inflation report. This crucial inflation data is watched closely by policymakers and economists,…
Mortgage rates have seen slight fluctuations, with the average 30-year fixed mortgage rate currently sitting at 7.37%, up slightly from the previous day’s average. At the same time, 15-year fixed mortgage rates are averaging 6.67%. Homebuyers continue to face challenges from both high interest rates and elevated home prices, making affordability a key issue in…
**Devaluation vs Inflation** Devaluation and inflation are two key economic concepts that can impact the value of a country’s currency and the purchasing power of its residents. Devaluation refers to a deliberate downward adjustment of a country’s currency value relative to other currencies, often executed by the nation’s government or central bank. This is typically…
A Florida-based real estate developer has been ordered by a court to pay $300 million in lost profits after backing out of a major development deal in Arizona. The decision comes after the developer withdrew from the agreement, a move the court found to be a breach of contract, resulting in significant financial losses for…
The Arizona Supreme Court has ruled that the state’s self-defense laws apply inside the bedroom, setting a precedent for future cases involving claims of personal protection within the home. The decision came in response to a case where a woman fatally shot her partner during a domestic dispute and claimed self-defense. The court emphasized that…
Arizona’s real estate surges with major residential projects, transit upgrades, and sustainable planning driving growth and fresh investment opportunities.
Mortgage interest rates held relatively steady as of Friday, October 6, 2023, with the 30-year fixed-rate mortgage averaging 7.61%, up slightly from the day prior. In comparison, the 15-year fixed rate hovered around 6.87%, while the 5/1 adjustable-rate mortgage (ARM) landed at approximately 6.37%. Although rates remain elevated compared to recent years, they are still…
After a homebuyer in Arizona missed the inspection window specified in their purchase contract, questions arose about whether the seller is still obligated to pay for repairs identified later. Generally, real estate agreements include an inspection period during which buyers can inspect the property and request repairs or negotiate credits for any issues found. If…