Mortgages are going to cost more in 2014. After six years of steadily dropping, the home lending market finally hit an historic price floor in late 2012, with rates for 30-year fixed mortgages leveling off at about 3.38 percent. Rates remained in the 3’s through the first half of 2013 before finally popping up above 4 percent in June. The Mortgage Bankers Association is expecting mortgage rates to increase above 5 percent in 2014, and then increase to 5.5 percent by the end of 2015.
After a remarkable rebound, the Phoenix housing market is cooling down. The latest figures show Phoenix is off to a less than promising 2014. The number of homes for sale in January stood 29 percent above their levels of a year earlier, according to the Arizona Regional Multiple Listing Service Inc. A new report from Arizona State University’s W. P. Carey School of Business has found a 4 percent drop in home prices in January.
With the new year now in full swing, the Gilbert Chamber of Commerce continues to work to identify the programs and services that can best serve our business community. Like most businesses, we move steadily forward in pursuit of our goals.
“Revitalization” has become a buzzword for cities plagued with malnourished downtowns, a classification that fit Chandler more than a decade ago. Now, a little more than three years after it finished several construction projects and recruited businesses, the city is starting to see its efforts come to fruition.
Saying it will make the state more competitive, the Senate Finance Committee voted unanimously Wednesday to exempt manufacturers and smelters from having to pay tax on the electricity they buy and use.
Shirley was born May 14, 1936 at Good Samaritan Hospital in Phoenix. Her father was Ralph Simmons (deceased) and mother is Lillian Stonescipher Simmons (97). Shirley was a true Phoenician and lived almost all her life in the Valley. Shirley met Hiley in orchestra at Phoenix Union High School in her junior year and they became high school sweethearts. They went on to Arizona State College, where they were music majors, and were married on June 24, 1955 after her freshman year. Her parents insisted that she complete one year of college, first. After her two sons were born, Ralph on April 26, 1956, and Tom on November 21, 1957, she resumed her studies at ASU with a career change to business, majoring in accounting. She also attended Gregg Business College.
Ahwatukee Foothills resident Lori Cairns knows what it’s like to receive a disappointing diagnosis about the mental health of her toddler. She also knows it’s possible to overcome that diagnosis. Now, through a new documentary, she’s sharing her story of hope and success.
Like the old saying goes, “timing is everything,” and unfortunately here is a vivid example that impacts all of us who live in Arizona. This deals with ADOT and their lack of stewardship on the monies earmarked for the proposed SMF on Pecos Road.
With baby boomers approaching retirement age in record numbers, and home values returning to a point where their owners are finally comfortable enough to sell, it’s easy to understand why builders are optimistic about the 55-plus housing market these days.