Mortgage Rates in Phoenix, AZ: Today's Averages & 2026 Outlook
Phoenix 30-year fixed rates are running around 6.84% — roughly 1 bps below the national average of 6.85%. Here's how Phoenix rates stack up, what drives the metro spread, and the payment math on a typical Phoenix home.
Today's Phoenix rates by loan type
Estimates for Phoenix based on the current national 30-year average of 6.85% plus the metro's typical spread (-1 bps). Live national rate sourced daily from Freddie Mac PMMS. Your actual quote will depend on your credit, down payment, and lender.
What drives Phoenix mortgage rates
The national 30-year average sets the floor for every Phoenix lender. But the $Phoenix-Mesa-Chandler metro typically prices about 1 basis points below that national benchmark because of local dynamics.
Local market read. New-construction incentives (permanent rate buydowns) are aggressive; used-home appreciation has cooled.
Who's lending. Builder-lender partnerships lead new-construction; retail non-banks lead resale.
Median deal size. A typical Phoenix loan is around $415,000 on a $465,000 home. That sits well inside conforming loan limits, so most Phoenix buyers get standard agency pricing.
What a typical Phoenix payment looks like
| Line item | Estimate |
|---|---|
| Median home price (Phoenix-Mesa-Chandler) | $465,000 |
| Median loan amount | $415,000 |
| 30-yr rate (Phoenix avg) | 6.84% |
| Monthly principal & interest | $2,717 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$3,532 |
Directional math for Phoenix in 2026. Add property taxes, homeowners insurance, PMI (if less than 20% down), and any HOA dues for full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
More on buying in Arizona
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Phoenix mortgage rates: FAQ
What is today's mortgage rate in Phoenix, AZ?▾
The average 30-year fixed mortgage rate in Phoenix is around 6.84% — 15-year fixed near 6.09%, FHA around 6.59%, VA around 6.49%. That's roughly 1 bps below the current US 30-year average of 6.85%. Your actual rate depends on credit score, down payment, loan type, and lender competition — always compare Loan Estimates from at least three lenders.
How do Phoenix mortgage rates compare to the national average?▾
Phoenix rates typically sit slightly below (about 1 bps lower than) the US 30-year average. The metro spread reflects local lender competition, loan mix, and property-tax/insurance dynamics specific to the Phoenix-Mesa-Chandler area.
What's the median home price in Phoenix?▾
The median home price in the Phoenix-Mesa-Chandler metro is about $465,000, with a typical loan amount of $415,000 at conventional LTVs. At today's 6.84% rate, principal and interest on that loan runs about $2,717/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues.
Who are the top lenders in Phoenix?▾
Builder-lender partnerships lead new-construction; retail non-banks lead resale. You'll get the best rate by comparing at least three Loan Estimates — a mix of a national non-bank lender, a local credit union, and (for higher loan amounts) a portfolio bank tends to reveal the best pricing for your specific profile.
Should I lock my rate now or wait in Phoenix?▾
New-construction incentives (permanent rate buydowns) are aggressive; used-home appreciation has cooled. On rate timing itself, no one can call the exact peak or trough — but if the payment on your target Phoenix home works today at 6.84%, locking and refinancing later if rates fall is a well-worn playbook. Our Right-Time-to-Buy tool models the wait-vs-buy math for you.