Current Arizona Mortgage Rates
Average market rates for December 04, 2025 in Arizona are 6.26% for 30-year fixed purchase and 6.35% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.26% | 6.29% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
Mortgage Rate Trends in Arizona
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.26% | 6.29% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
Arizona Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.39% | 5.43% |
| 15-year Fixed Jumbo Purchase | 6.14% | 6.17% |
| 30-year Fixed Purchase | 6.26% | 6.29% |
| 30-year Fixed Jumbo Purchase | 6.85% | 6.86% |
Arizona Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.37% | 5.41% |
| 15-year Fixed Jumbo Refinance | 6.11% | 6.14% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
| 30-year Fixed Jumbo Refinance | 6.85% | 6.86% |
Arizona ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.06% | 6.10% |
| 5/6 Arm (refinance) | 6.04% | 6.07% |
| 5/6 Jumbo Arm (purchase) | 5.87% | 5.88% |
| 5/6 Jumbo Arm (refinance) | 5.91% | 5.92% |
How we source rates and rate trends
Arizona mortgage rates compared to the national average
According to federal data, the median mortgage and refinance rate in Arizona in 2023 was 6.75%. That compares with a national average that year of 6.97%.
So, residents of the Grand Canyon State enjoy access to lower mortgage rates than most Americans, which can only help homebuyers, homeowners and those wishing to refinance.
Why might that rate be low? Well, four reasons often explain why a state has a higher or lower-than-average mortgage rate. These include:
- A high average credit score — At 703, Arizona’s is certainly better than some. However, the average score nationwide in March 2024 was 705, according to Experian, one of the Big 3 credit bureaus. Generally, the higher your credit score, the lower your mortgage rate, everything else being equal
- Mortgage regulation — A state with light-touch regulation of its mortgage industry tends to save lenders compliance costs. And they often pass those on to customers through lower mortgage rates or closing costs. However, Arizona’s framework doesn’t appear unusually lax
- Mortgage lender competition and history — If a state’s mortgage lenders are especially competitive, they tend to offer lower mortgage rates. This could be because rates started low and nobody’s managed to push them higher. Or because there are a lot of lenders chasing business
- Residents’ willingness to comparison shop — A surprising number of those buying or refinancing a home get a quote from only one lender. But shopping around for the lowest rate can save you tens of thousands of dollars over the life of a 30-year mortgage. A state where more residents shop around for their lowest mortgage rates is likely to have a lower-than-average rate. See more, below
Given that Arizona’s first two bullet points are close to average, we suspect that one or both of the last two give the state its low mortgage rates.
Note that mortgage rates fluctuate constantly. Those movements mean that there may be times when Arizona’s rates are less competitive than normal.
Most Common Mortgage Types in Arizona
- Conventional: 83,073 loans
- FHA: 15,543 loans
- VA: 11,206 loans
- USDA: 615 loans
Arizona’s real estate market
Unsurprisingly, home prices in the Grand Canyon State are a little higher than the national average. You can see why: It’s a great place to live.
Redfin reckons that, in October 2024, the median sale price for a home in Arizona was $445,300. The Federal Reserve Bank of St. Louis put the median sale price nationwide at $427,300 in July of that year.
It’s unlikely that the three-month gap between those two figures would account for the difference. Redfin says that, by October, the year-over-year increase in Arizona home prices was only 1.7%.
This is good news for Arizonans looking to buy their first home. Most people’s salaries rose more than that over the year ending October 2024.
However, there’s a sting in the tail: Nationwide, “real” (after inflation) hourly wages increased only 1.4% to that October. Still, that’s a fairly small gap, and way better than when home prices were rocketing higher.
And there’s more good news for first-time buyers. Redfin says the number of homes sold in the state jumped 12.4% year-over-year in October 2024 while the median days that a home remained on the market increased to 55 from 44 a year earlier.
So, it’s looking as if first-time buyers have a wider choice and decent homeownership affordability levels.
The news is far from bad for existing homeowners wishing to refinance. Any increase in home prices likely means you have more equity to play with.
Top Purchase Lenders in Arizona by Volume
- Fairway Independent Mortgage Corporation: 7,776 loans
- Nova Financial & Investment Corporation: 5,166 loans
- Rocket Mortgage, LLC: 4,325 loans
- Loandepot.com, LLC: 3,716 loans
- Desert Financial Credit Union: 2,805 loans
- V.i.p. Mortgage, Inc.: 2,701 loans
- Guild Mortgage Company LLC: 2,369 loans
- Crosscountry Mortgage, LLC: 2,326 loans
- DHI Mortgage Company, Ltd.: 2,201 loans
- Lennar Mortgage, LLC: 1,869 loans
How to find the best lender in Arizona
- First, get to know all the various loan types so you can choose the right one for your needs. These are conventional, FHA, VA and USDA loans
- Explore different mortgage lenders including, credit unions, banks, brokers and online lenders, to get a clearer picture of all their offerings
- Consult online reviews and even your own social circle so you can identify lenders that offer strong customer service and great value for money
- Acquire quotes from at least three or four different lenders, and even more if you are not totally happy with those
- Remember that interest rates are not the only criterion to consider. You also need to compare fees, closing costs, and other details using standardized Loan Estimates
Always remember that comparison shopping for your mortgage is essential. Federal regulator, the Consumer Financial Protection Bureau (CFPB), says that borrowers could save $100 a month (or more) by choosing the lowest mortgage rate.
Top Refinance Lenders in Arizona by Volume
- Rocket Mortgage, LLC: 1,262 loans
- American Advisors Group: 927 loans
- U.S. Bank: 625 loans
- Wells Fargo Bank: 576 loans
- Finance Of America Reverse LLC: 566 loans
- JPMorgan Chase Bank: 554 loans
- Nova Financial & Investment Corporation: 524 loans
- Bank Of America: 497 loans
- Freedom Mortgage Corporation: 489 loans
- Pennymac Loan Services, LLC: 487 loans
Top Cash-Out Refinance Lenders in Arizona by Volume
- Rocket Mortgage, LLC: 9,524 loans
- Loandepot.com, LLC: 2,694 loans
- Freedom Mortgage Corporation: 1,965 loans
- Nova Financial & Investment Corporation: 1,917 loans
- Nationstar Mortgage LLC: 1,776 loans
- Pennymac Loan Services, LLC: 1,588 loans
- Fairway Independent Mortgage Corporation: 1,528 loans
- Wells Fargo Bank: 1,388 loans
- JPMorgan Chase Bank: 1,299 loans
- Flagstar Bank, Fsb: 1,140 loans
First-Time Home Buyer Programs in Arizona
The Arizona state government has multiple down payment and closing costs assistance programs that it operates with private-sector partners.
The relevant websites are short on details. But, reading between the lines, these are likely to be second mortgages that must be repaid in parallel with your main home loan.
One official statewide program aimed at first-time homebuyers is called Arizona is Home:
- To qualify, a prospective buyer must not have owned a property in the last three years
- Once funds are available they can be used for a down payment, closing costs, and interest rate buydown
- Eligible homebuyers whose incomes are between 81% -120% of the area median income (AMI), can receive up to $20,000. Those who are at 80% or below AIM are eligible for up to $30,000. Check the AMI where you want to buy using this look-up tool
- The prospective homebuyer must meet one-on-one with a HUD-certified Home Ownership Advisor and attend an 8-hour homebuyer education class
Other state-backed programs include HOME Plus, which is “the only statewide and state-run home buyer down payment assistance program in Arizona.”
Don’t automatically pick the state-backed programs. There will be others offered by cities, counties and non-profits that might suit you better. Do a web search for your city or county and “down payment assistance.”
