Last Updated July 7th, 2025

Current National Mortgage Interest Rate Trends

As of Monday, July 7, 2025, average mortgage rates have declined slightly, with the 30-year fixed mortgage at 6.68% and the 30-year refinance rate at 6.76%. The 15-year refinance rate also dropped to 6.04%, continuing a downward trend over the past week. Despite staying below 7% for much of the year, mortgage rates remain elevated enough to dampen housing market activity. Broader economic factors, including Treasury yield fluctuations and geopolitical events, continue to influence financial markets and lending conditions.

Phoenix Housing Market Sees Surge in Stale Listings as Buyer Demand Softens

Nearly half of Phoenix home listings in April sat on the market for 60 days or more without going under contract, slightly higher than the 44% national rate. This reflects a growing trend of "stale" listings across the country, with national inventory reaching a record $700 billion. Despite the increase in available homes, high prices, elevated mortgage rates, and economic uncertainty continue to limit buyer activity. Experts note that while Phoenix’s market is still tight, it is gradually softening, offering buyers more negotiating power as listing durations lengthen and prices ease.

SoftBank Eyes Trillion-Dollar AI and Robotics Hub in Arizona, Seeks TSMC Partnership

SoftBank founder Masayoshi Son is exploring a partnership with TSMC to create a trillion-dollar AI and robotics industrial complex in Arizona, called "Project Crystal Land." The project aims to house production lines for AI-powered robots and attract major tech firms, potentially mirroring China’s Shenzhen economic zone. While TSMC’s involvement is still uncertain, the project's success would depend heavily on support from the Trump administration, Arizona officials, and private sector interest. SoftBank has begun talks with federal and state leaders about incentives to attract investment and manufacturing to the proposed site.

Arizona Housing Market Recalibrates in 2025 Amid Cautious Optimism and Shifting Buyer Behavior

Arizona’s housing market in 2025 is marked by cautious optimism, with experts predicting a modest increase in home sales and stable prices driven by in-migration, job growth, and strong market fundamentals. While affordability challenges, high mortgage rates, and economic uncertainty still pose hurdles, buyers are becoming more confident and prepared, and sellers are adapting to a slower, more balanced market. Development is expanding strategically around job hubs and infrastructure, though constraints like land availability and water access remain. Industry professionals agree that while the frenzied pace of past years has cooled, Phoenix’s long-term outlook remains strong, supported by steady demand, diversified economic growth, and a shift toward intentional, informed homebuying.