What’s Ahead For Mortgage Rates This Week – August 22, 2016

Last week’s economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were also released.

Shortages of available single-family homes have driven up home prices and increased competition among homebuyers; short inventories of homes for sale are affecting affordability in many areas, although buyers seem motivated by lower mortgage rates and some easing of mortgage requirements. Analysts have repeatedly said that the only solution to the shortage of homes is building more homes.

Fortunately, the National Association of Home Builders reported that builder sentiment concerning U.S. housing markets increased in August. The HMI moved up to a reading of 60 in August as compared to July’s reading of 58. Readings over 50 indicate that a majority of builders surveyed are confident about housing market conditions.

According to NAHB, home builders continued to face obstacles including shortages of buildable lots and skilled labor. Regulatory issues were also cited by some builders, but overall, builders remain optimistic about housing market conditions.

Housing Starts Up, Building Permits Issued Slip in July

Commerce Department reading s on housing starts and building permits issued were mixed; housing starts rose from July’s reading of 1.186 million permits issued to 1.211 million permits issued in August. July’s reading was the second highest since the recession but was driven by multi-family construction. Building permits were lower in August with a reading of 1.152 million permits issued against July’s reading of 1.153 million permits issued.

Analysts said that under present market conditions, there is little reason for homebuilders to increase single-family home production as current pricing has put many would-be buyers on the sidelines.

Mortgage Rates Mixed, New Jobless Claims Lower

Freddie Mac reported that average rates for 30-year and 15-year fixed rate mortgages dropped last week while the average rate for 5/1 adjustable rate mortgages rose. The average rate for a 30 year fixed rate mortgage was 3.43 percent and the average rate for a 15-year fixed rate mortgage was 2.74 percent; both readings were two basis points lower than for the prior week. The average rate for a 5/1 adjustable-rate mortgage was two basis points higher at 2.76 percent. Average discount points held steady for fixed rate mortgages at 0.50 percent; average discount points for 5/1 adjustable rate mortgages were lower at 0.40 percent.

New Jobless claims fell by 4000 claims to 262,000 new claims, which was lower than analyst expectations of 265,000 new claims and the prior week’s reading of 266,000 new claims. Job security is important to home buyers and signs of strong labor markets can help propel would-be buyers into the market,

What‘s Ahead

This week’s scheduled economic news includes releases on new and existing home sales and consumer sentiment. Weekly reports on mortgage rates and new jobless claims will be released on schedule.

Click Here to See What Your Home is Worth

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

Location Search Nearby

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

School District

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

8821 S 47th Place Phoenix, AZ 85044

$569,000

4 Beds

3 Baths

2,195 SqFt

Status Active

MLS # 6745563

Property Type Townhouse

Price Type --

A rare opportunity for totally updated residence w/ views in mountainside resort, gated community! Amazing 4 bed, 3 bath residence in Pointe South Mtn/ AZ Grande in Ahwatukee haven! Two master bedrooms/ two large bedrooms perfect for large family or multi generational living. Upstairs bedrooms have balconies. Downstairs master with outdoor access. Updates from 2024 include modern interior color palette (2023 colors of the year), ext paint, two luxurious tiled rain showers, SS appliances, granite counters in kitchen/ downstairs baths, new light fixtures, new plumbing fixtures, all new flooring (wood plank tile and carpet), feature wall, roof updated, new landscape design featuring artificial grass and nightscape. The joy of your own piece of resort living, totally updated!

View Property

18370 W College Drive Goodyear, AZ 85395

$569,000

3 Beds

2 Baths

2,099 SqFt

Status Active

MLS # 6750583

Property Type Single Family Residence

Price Type --

SPARKLING BACKYARD POOL!! Welcome home to a stunning Meritage 3 bedroom, 2 bath home plus huge den, located in the highly-sought after Sedella community in Goodyear. Home is situated on a large lot with a beautiful landscaped backyard boasting a large sparkling pool, a large ramada with pavers, a beautiful gas fire pit for those cool desert nights, synthetic turf, large covered patio and dwarf fruit trees. Home also has a large RV Gate with generous paved parking, and RV parking IS allowed. From the moment you walk through the front entry, the spacious floor plan opens up to a great room with vaulted ceilings and a beautiful modern kitchen with a large island and a walk-in pantry, made for entertaining. Primary bedroom suite is split from other bedrooms for private tranquility..... All bedrooms have ample walk-in closets. This home shows pride of ownership and is move-in ready, and shopping and other conveniences are close by.

View Property

3150 N Eagle Landing Road Show Low, AZ 85901

$569,000

2 Beds

2 Baths

1,679 SqFt

Status Active

MLS # 6752586

Property Type Single Family Residence

Price Type --

We may say this often - but it is true - Escape to the Pines! This perfect lot that backs to State land in Creekside at Eagle Mountain Estates is a beautiful gated community in Show Low. This very spacious 2 bedroom, 2 bath home with a separate little office area off the kitchen (which has a large walk in pantry and gas range) is perfect for relaxation retreat away or living here permanently . Enjoy the warmth of the living room fireplace during those cooler mountain evenings or step outside into your enclosed pavered yard—perfect for peaceful mornings with a book or safe playtime for your pets. This home also features a generously sized two-car garage that provides extra space for larger vehicles or additional storage (think UTVs!). Residents appreciate the community's strict no short-term rental policy, which preserves the neighborhood's quiet charm. Whether you're seeking a permanent residence or a seasonal retreat, this home offers an ideal setting for a tranquil lifestyle surrounded by natural beauty. Explore the opportunity to call this serene dwelling your own!

View Property

7901 W Missouri Avenue Glendale, AZ 85303

$569,000

4 Beds

2.5 Baths

2,961 SqFt

Status Active

MLS # 6771300

Property Type Single Family Residence

Price Type --

View Property

2015 W Wescott Drive Phoenix, AZ 85027

$569,000

5 Beds

3 Baths

2,779 SqFt

Status Active

MLS # 6774277

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated 5-bedroom, 3-bathroom home in desirable North Phoenix! Featuring fresh interior paint, brand new carpeting, and upgraded kitchen countertops, this home is move-in ready. With two master bedrooms, there's plenty of space for everyone. The second floor offers a versatile space that can be used as a master suite, private apartment, perfect for guests or additional living quarters. Step outside to a lush, grassy backyard with a raised garden bed, perfect for cultivating your own vegetables, and relax in the hot tub under the shaded gazebo. With easy freeway access, this home combines convenience with comfort, making it an ideal North Phoenix retreat! 2 ACs new in 2019.

View Property

27015 N 55th Lane Phoenix, AZ 85083

$569,000

3 Beds

2 Baths

2,234 SqFt

Status Active

MLS # 6784325

Property Type Single Family Residence

Price Type --

EXQUISITE HOME WITH 3 CAR GARAGE ON A LARGE LOT. The attractive curb appeal greets you upon arrival. Once inside, you might be dazzled with the beauty of this elegant home. Pass through the Formal Dining Room (or use as a den) to an open Great Room featuring a huge Family Room, spacious dining area & kitchen with eating counter. There is all hard-surfaced flooring with gorgeous tile and wood throughout. PLANTATION SHUTTERS THROUGHOUT THE HOME. Bedrooms are very generous in size...all bedrooms have walk-in closets. ALL APPLIANCES ARE INCLUDED. (FURNITURE IS AVAILABLE TOO.) The yard has a large covered patio with plenty of room for a future pool if desired. Double-gates to the wide side yard. Mature landscaping adorns the front & back yard of this wonderful home in desirable Stetson Valley.

View Property

10441 W Los Gatos Drive Peoria, AZ 85383

$569,000

4 Beds

3 Baths

2,698 SqFt

Status Active

MLS # 6779637

Property Type Single Family Residence

Price Type --

Amazing 4-bedroom and Den Residence in Casa Del Rey! You're greeted by 3-car garage, welcoming porch**Impressive entryway leads you to a charming living/dining room w/ Earth-tone palette**Spacious Family Room boasts Soaring Ceilings, Clerestory Windows for ample natural light**Gorgeous Kitchen comes w/Granite Counters, Custom Wood Cabinetry w/Crown Molding, SS appliances, a large Pantry, and a two-tier peninsula with Breakfast Bar**Convenient Downstairs Bedroom & full Bath** Upstairs, the Loft provides additional Living Space**Large Master Suite with Spacious Master Ensuite with Separate Tub/Shower and Large Walk-In Closet**Large Secondary Bedrooms**Double Sinks at Hall Bath**Ceiling Fans throughout**Step Outside to Eye Appealing Backyard with Extended Covered Patio & Large BBQ Island The cozy primary bedroom offers a sitting nook, an ensuite with double sinks, and a walk-in closet.Unwind in the enchanting backyard, complete with a full-length covered patio, stylish pavers, pristine artificial turf, and a built-in BBQ with a dry bar for outdoor get-togethers. Make this gem yours now!

View Property

683 W Princeton Avenue Gilbert, AZ 85233

$569,000

4 Beds

3 Baths

2,416 SqFt

Status Active

MLS # 6779854

Property Type Single Family Residence

Price Type --

REDUCED PRICE! Prepare to be amazed by this magnificent two-story gem in the desirable Community of Silverhawke! This beauty displays lush greenery, a mature shade tree, a 3-car garage, & an inviting courtyard. You'll love the immaculate interior, boasting spacious living areas perfect for welcoming & entertaining. The home exudes charm with its vaulted ceilings, chic light fixtures, & tile flooring. The impeccable kitchen is fully equipped with granite counters, a mosaic tile backsplash, recessed lighting, a pantry, & white cabinetry w/crown molding. Main suite is located upstairs & adorned with soft carpeting, a full ensuite w/a sliding barn door, & a generous walk-in closet. Downstairs bedroom with adjacent full bath. The home's elegance extends outdoors to the private backyard with a covered patio, fragrant citrus trees, & pavers.Vacant and easy to show. Appliances included. Act Now!

View Property

2409 W Acoma Drive Phoenix, AZ 85023

$569,000

4 Beds

3 Baths

2,557 SqFt

Status Active Under Contract

MLS # 6746657

Property Type Single Family Residence

Price Type --

Beautifully maintained, energy-efficient home features owned solar panels, RV gate + parking, a charming front yard & inviting entry to start. Step inside to travertine & wood floors stretching across an open layout w/ vaulted ceilings. Additional upgrades include plantation shutters throughout, an open & spacious kitchen equipped w/ stainless steel appliances, granite counters, tile backsplash, breakfast bar & a whole house water filtration system. The spacious main suite boasts its own fireplace, sitting/office area, direct backyard access, & a private bathroom featuring dual sinks + a walk-in closet. The large laundry room has built-in cabinets & a utility sink. This is one of the largest single stories in the neighborhood that has 2 en suites. Pool has motorized safety cover. Outside, the sizable backyard boasts a covered patio, two sheds, a spa, refreshing pool, and ample space for lively barbecues. Don't miss this delightful haven!

View Property

20442 E Rosa Road Queen Creek, AZ 85142

$569,000

4 Beds

2.5 Baths

1,959 SqFt

Status Active

MLS # 6754354

Property Type Single Family Residence

Price Type --

A definition gem on a spacious corner lot, perfectly nestled quite-nearly in the very center of the Queen Creek Marketplace itself! It's a deceptive-charmer that just keeps giving more and more as you tour it. Four bedrooms within a functional layout including a flex-space ideal for a home office, second living space/game room- or even could easily serve as a fifth/guest bedroom if ever desired! The finishes are totally up to 2024 standards with a modern-boho feel throughout stemming from the wood-look tile flooring to the generous and gorgeous kitchen. Best surprise might just be the backyard, it astounds in use of space- and all this is positioned ever-so-cosily next to a pathway to the shopping and dining just steps away! Don't miss this one.

View Property

8609 N 89th Drive Peoria, AZ 85345

Open House

$569,000

3 Beds

2 Baths

1,893 SqFt

Status Active

MLS # 6787852

Property Type Single Family Residence

Price Type --

Located within the gated Crosspointe community, this turnkey, extensively upgraded residence boasts 3 bedrooms plus a den and 2 bathrooms across 1893 square feet, featuring a spacious great room design. The gourmet kitchen is equipped with ample cabinetry, granite countertops, a gas cooktop, stainless steel appliances, a walk-in pantry, and an island complete with a breakfast bar and pendant lighting. Dual sliding glass doors from the great room open to a covered patio and a backyard surrounded by single story homes that includes a private pool, generous paver work, and a storage shed. The master bedroom offers backyard access through its own sliders and features an en-suite bathroom with dual sinks, a separate bathtub and shower, and a large walk-in closet. Additional amenities include tile and vinyl plank flooring, plantation shutters, neutral paint, ceiling fans, a side yard with a double gate, a stone-accented facade, and a 3-car garage complemented by an expansive paver-lined driveway.

View Property

2475 N 163rd Drive Goodyear, AZ 85395

Open House

$569,000

2 Beds

2 Baths

2,088 SqFt

Status Active

MLS # 6759367

Property Type Single Family Residence

Price Type --

This fabulous 2 bed/2 bath residence now on the market is for you! Featuring great curb appeal, a low-care landscape with mature shade tree, and a 2 car + golf cart garage. A spacious open floor plan w/elegant wood plank flooring, formal dining area, a 2-way fireplace, and neutral palette throughout. The gorgeous kitchen is comprised of wood cabinetry w/granite counters, a pantry, brand new SS dish-washer/gas stove top-oven. Newer ''Samsung Bespoke ''refrigerator, new pen lighting & recessed lighting, completes the breakfast bar. You'll love the primary bedroom, with a walk-in closet and an esuite w/dual sinks. You'll also find a cozy open den/sitting room! Finally, the lovely backyard includes a covered patio, extended paver seating area, a built-in BBQ, gas fire pit and fountain.

View Property