PHOENIX — The recent Federal Reserve rate cut is bringing more buyers to the table , but many are waiting for the Goldilocks window to open — the "just right" timeframe considered ideal for buying a home. The 30-year fixed-rate mortgage averages 6.08%, according to Freddie Mac 's Primary Mortgage Market Survey released Sept.
26 — the lowest level in two years . The fourth quarter tends to be the best time to buy a home in metro Phoenix — that's usually when there's a boost in supply without a corresponding boost in demand, said Tina Tamboer, senior housing analyst for Scottsdale-based The Cromford Report. "This year is similar in that we are seeing a boost in demand, but since mortgage rates dropped below 6.
5% and have been hovering between 6.1% and 6.2% since Sept 11, buyer demand has picked up 11.
5% from just three weeks ago, most notably between $300,000 and $800,000, where mortgage rates are more influential," Tamboer said. Read more of this story from the Business Journal. Latest from ABC15: Honeywell Aerospace opens innovation hub at ASU's Tempe campus Amy Edelen, Phoenix Business Journal Biden sending up to 1,000 soldiers to help with storm relief efforts in NC Tomas Hoppough Arizona Humane Society reopening Sunnyslope campus due to 'chronic' overcrowding Ashley Loose People flock to Scottsdale for a blend of Old West history and high-end luxury Cameron Polom.
