Mortgage rates showed mixed movement as of September 22, with 30-year fixed-rate mortgages holding steady at 7.60%, marking no change from the previous day. However, 15-year fixed-rate mortgages rose slightly to 6.81%, up by 7 basis points. These increases come as the Federal Reserve signaled a more prolonged period of elevated interest rates to combat inflation, which continues to shape the housing market’s trajectory. Homebuyers are facing higher borrowing costs, amplifying affordability concerns across the country.
Financial experts advise buyers and refinancers to stay alert to rate fluctuations as the economic outlook remains uncertain. With inflation still above the Fed’s 2% target and no imminent rate cuts in sight, mortgage rates may continue to hover at high levels or even increase. As a result, locking in a rate soon might benefit borrowers planning to purchase or refinance in the near term.
For those involved in Arizona real estate investing, the rate environment underscores the importance of careful planning and strategic decision-making. Elevated rates may dampen short-term buying activity, but they can also create favorable opportunities for cash investors or those targeting long-term rental properties in growing Arizona markets. Explore trends, strategies, and insights for smart investing at the [Arizona real estate investing](https://arizonainvestor.news/) resource site.
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