We’re kicking off our second season of Financial Cents by doing a deep dive on a topic that’s at the top of everyone’s mind: the Arizona real estate market. In this episode, special guest Greg Hague, founder of 72SOLD and Hague Partners, joins Mitch Gutierrez, residential real estate mortgage lender, and host Brent Cannon, executive vice president and director of community banking, to talk about what’s driving the market in Arizona and where things could be headed next. In its simplest form, as Greg explains, the appreciation of real estate prices can all be traced back to supply and demand.
Rising Real Estate Rates
What Rising Interest Rates Mean for the Arizona Housing Market and You.
"As interest rates have fallen over the past few years, that has obviously created huge demand for housing…these historically low rates make homes more affordable.” – Greg Hague
But things aren’t quite that simple, as there’s an added element of supply chain issues created by the pandemic, which is negatively impacting the supply of new construction just as demand is surging. And that’s where the Federal Reserve Board’s anticipated move to increase interest rates several times over the coming year comes into play, and it’s also where things get interesting.
“What most people don’t realize,” explains Mitch, “is that prime rates don’t really have a direct impact on mortgage rates. Mortgage rates are based off the 10-year treasury yield.”
So, where are things headed? Tune in to hear what Greg, Mitch and Brent have to say and what it all means for you.
Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.
Subscribe on your favorite podcasting platform
Youtube
Apple Podcasts
Spotify
iHeart Radio
Stitcher
