News Article From: 09-05-2014
Phoenix-area home sales, prices cool in July
In Metro Phoenix, both sales and prices dipped in July. Home sales fell 4.5% and the median home sales price inched down to $210,000 compared with June, according to the W.P. Carey School of Business at Arizona State University. The housing market's moderate slowing is proof another housing bubble isn't about to pop anytime soon in the Phoenix area, said Mike Orr, director of the Center for Real Estate Theory and Practice at W.P. Carey.
Read article - azcentral.com
Average US 30-year mortgage rate holds steady
The average 30-year U.S. mortgage rate this week remained at a 52-week low of 4.10% for the third straight week. The average for a 15-year mortgage slipped to 3.24% from 3.25%. The rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end in October.
Read article - ABC News