Last Updated February 4th, 2025

Current National Mortgage Interest Rate Trends

On Tuesday, February 4, 2025, the average 30-year fixed mortgage rate is 6.99%, a slight decrease from last week. 1 Refinance rates also fell, with the 30-year averaging 6.95% and the 15-year at 6.24%. Despite recent Federal Reserve actions, mortgage rates remain above 7% and are primarily influenced by the 10-year Treasury bond yield. Experts suggest borrowers should expect higher rates and compare loan offers to find the best deal.

Maricopa's Real Estate Resurgence: From Housing Bust to One of Arizona's Hottest Zip Codes

Maricopa's 85138 zip code was the hottest real estate area in Arizona last year, ranking among the top 20 in the U.S. according to an Opendoor analysis. The city, once hit hard by the housing bubble, is seeing a resurgence thanks to new employers in Pinal County and high home prices in metro Phoenix. The exurb boom is driven by people moving farther out due to remote work and rising housing costs in urban centers. Maricopa was also the fifth fastest-growing city in the U.S. from 2022 to 2023, reflecting the broader trend of rapid growth in exurban areas.

Neighborhood Ventures Lets Arizonans Invest in West Phoenix Apartments for Just $5,000

Neighborhood Ventures, Arizona's largest real estate crowdfunding company, is offering Arizona residents the chance to invest in a west Phoenix apartment complex for just $5,000. The company recently purchased a 123-unit property near Grand Canyon University at a 30% discount and plans to renovate and lease it before selling in three years. Investors can either directly back the property, Venture on Colter, or join a new fund supporting multiple distressed properties, with expected annual returns of 12-20%. This opportunity follows the state's 2015 crowdfunding law, which opened the door for non-wealthy Arizonans to invest in real estate projects.

Phoenix Financial Center's 'Punchcard Building' to Begin Redevelopment into Mixed-Use Hub in 2026

Construction on the Phoenix Financial Center's redevelopment is set to begin next year, transforming the iconic "Punchcard Building" into a mixed-use complex with residential units, hotel rooms, and a range of amenities. The project, part of Left Lane's Recess Hotel & Club brand, will include 143 residential units, 209 guest rooms, and 33,000 square feet of event space. Left Lane plans to preserve the building's historic architecture while adding modern features like restaurants and bars. The redevelopment follows the company's takeover of the project in 2023, with construction slated to start in 2026 after the design process wraps up later this year.