
Mortgage Rates Steady but Elevated: What Arizona Investors Need to Know in October 2023
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…