Why Phoenix Fixed-Rate Payments Went Up in 2026

By Monique Walker

Monique Walker has 21 years of experience successfully buying and selling homes in the Phoenix market. She knows the neighborhoods, schools, and the local economy. Monique and her team do all the leg work, keeping you up-to-date with new listings and conditions as they impact the market.

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If you have a fixed-rate mortgage, you probably expected your monthly payment to stay right where it started. For many homeowners this year, it hasn’t, and the interest rate has nothing to do with it. Homeowners insurance premiums are up sharply, and in some markets they’ve jumped.

Insurance rides inside your payment. When your homeowners insurance is collected through your mortgage, the premium is built right into what you pay each month. As that premium rises, your monthly payment rises with it, even though your rate never moved a hair.

Get the insurance quote first. Smart buyers now get an insurance quote before they make an offer, not after they’re already under contract. Having that number early means the home’s true monthly cost is part of your decision from the start.

A pricey roof cancels a bargain. A house can look like a steal on price alone, but when the roof is expensive to insure, it stops being a deal.

If you’re getting ready to buy, reach out before you fall in love with a house. I’ll be sure to get you connected early, so you know what it costs to insure before your heart is set on the wrong one. Call me at 602-413-8195, email me at Monique@MoniqueSells.com, or visitmoniquesells.com. I’d love to help you find a home that still makes sense long after closing day.