Mortgage interest rate falls to lowest since 1971

Mortgage buyer Freddie Mac says the average rate for the 30-year fixed loan fell to 3.43 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971.

The average rate on the 15-year fixed mortgage dipped to 2.65 percent from 2.74 percent last week. That’s slightly above the record low of 2.63 percent, also reached in November.

Low mortgage rates are helping sustain a housing recovery that began last year. Home sales and residential construction are up, prices are rising and more Americans are refinancing. That’s helped the broader economy.

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New Listing at Fontenelle Lofts

This is a great listing and sure to fit the taste of many Urban Dwellers.  Check out Fontenelle Lofts at 3rd Ave and Roosevelt.  This building was built in the 1930's and restored in 2004.  This unit is all new in '04 and located above the garages and contains many of the features of a true loft.  There are 2 bedrooms and 1 bath and the whole unit has a lot of windows with high and exposed ceilings.  This unit has a 1 car garage and a 1 car covered space. 

Accross the street is the Gold Spot shopping corner with Lux Coffee and Pita Jungle.

See the full listing here.  Then contact me at Chris@RooPhoRealty.com or 602-224-0554 to see the property.

More information on Urban Real Estate is at www.AZNativeProperties.com

Regency House Condos, Phoenix AZ

When Regency House was built in 1964, it was "thee" address to have on North Central Ave.  Many of the cities elite moved in upon completion.  The architect was Geo. HS Schonberger and Regency House was the last of residential high rises to be built in the 1950's and 1960's.

Each unit has floor to ceiling windows in the living room and bedrooms providing wonderful views of the city.

Regency House also has a large club house for residence to relax or reserve for a private party.

The large pool area was recently remodeled and new land scaping is still to come.  For more information on Regency House and other communities, contact Chris Campbell at 602-224-0554 or Chris@RooPhoRealty.com .   You can also get more information on www.AZNativeProperties.com.