Mortgage interest rates remained relatively stable this week as financial markets awaited new economic data that could influence future rate changes. The average 30-year fixed mortgage rate now sits at 6.99%, just below the 7% threshold that has become the norm in recent months. Factors such as inflation, Federal Reserve policies, and employment figures are expected to guide any future movements in mortgage rates heading into summer.
Meanwhile, the current rate environment continues to affect homebuyer demand, limiting affordability and slowing overall housing market activity in many parts of the country. While refinancing is less attractive at these rates, buyers who plan to stay in their homes long-term may still consider locking in before rates potentially climb higher amid ongoing economic uncertainty.
For those considering Arizona real estate investing, current market conditions present both challenges and opportunities. While higher borrowing costs can narrow profit margins, slower home price growth and increasing rental demand in popular Arizona markets like Phoenix and Tucson offer potential for long-term gains. Learn more about emerging trends and insights at the Arizona Investor News website on [Arizona real estate investing](https://arizonainvestor.news/).
Read the original Mortgage Interest Rates article.