Financial Cents | Arizona's Financial Podcast
Brent Cannon, executive vice president, director of community banking at National Bank of Arizona® is your host of Financial Cents, Arizona’s Financial Podcast. Each episode, Brent invites fellow banking colleagues with decades of experience in the financial industry to provide both financial and business insights that you could only get if you had a friend in the industry.National Bank of Arizona was founded on the mission to build local relationships, deliver financial literacy and exceptional customer service. More than 30 years later this approach has not changed, serving almost all the communities throughout the state of Arizona. By seizing technology opportunities in the 21st-century, National Bank of Arizona continues this approach with the foundation in which this organization was built upon. This financial podcast was created in efforts to continue to connect with consumers and business owners, building relationships with new listeners and currents clients alike. To learn more, check out nbaz.com/financial-cents.
Financial Cents | Arizona's Financial Podcast
Real Estate in Arizona: What to Expect with Prices and Rates in 2022
What does the upcoming interest rate increases by the Federal Reserve mean for the Arizona housing market? How is inflation impacting housing trends? What can we anticipate for residential real estate in the coming months and years as we continue to navigate through the economic impacts of the pandemic? And, perhaps most importantly of all, what does this mean for you?
We’re kicking off our second season of Financial Cents by doing a deep dive on a topic that’s at the top of everyone’s mind: the real estate market. In this episode, special guest Greg Hague, founder of 72SOLD and Hague Partners, joins Mitch Gutierrez, residential real estate mortgage lender, and host Brent Cannon, executive vice president and director of community banking, to talk about what’s driving the Arizona market and where things could be headed next.
In its simplest form, as Greg explains, the appreciation of real estate prices can all be traced back to supply and demand. “As interest rates have fallen over the past few years,” explains Greg, “that has obviously created a huge demand for housing…these historically low rates make homes more affordable, which has driven up demand.”
But things aren’t quite that simple, as there’s an added element of supply chain issues created by the pandemic, which is negatively impacting the supply of new construction just as demand is surging. And that’s where the Federal Reserve Board’s anticipated move to increase interest rates several times over the coming year comes into play, and it’s also where things get interesting.
“What most people don’t realize,” explains Mitch, “is that prime rates don’t really have a direct impact on mortgage rates. Mortgage rates are based off the 10-year treasury yield.”
So, where are things headed? Tune in to hear what Greg, Mitch and Brent have to say and what it all means for you.
Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.
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