What’s Ahead For Mortgage Rates This Week – June 27, 2016

Last week’s economic news was dominated by Great Britain’s vote to withdraw from the European Union. New and Existing Home Sales were released along with weekly reports on mortgage rates and new jobless claims.

“Brexit” Vote Tanks Stocks, Could Cause Lower Mortgage Rates

US stocks plunged in reaction to the news of Britain’s decision to leave the EU and the resignation of its Prime Minister. While investors don’t want to see their 401(k) values crash, mortgage rates may also fall as a result of “Brexit”. Fallout caused by economic uncertainty connected with Great Britain’s move to regain independence is expected to have lingering influence on global financial and economic developments in coming months and years.

Fed Chair Janet Yellen said in testimony before the Senate Banking Committee that Great Britain’s decision to leave the EU could have significant consequences. Chair Yellen’s comments were made prior to Friday’s announcement of Great Britain’s decision.

Existing Home Sales Highest Since 2007, Home Prices Continue Rising

According to the National Association of Realtors® May sales of pre-owned homes hit their highest level since February 2007. May’s seasonally-adjusted annual reading of 5.53 million sales fell just shy of analysts ‘expectation of 5.55 million sales, but exceeded April’s reading of 5.43 million sales. May’s reading represented a 1.80 percent increase in sales and a year-over-year increase of 4.50 percent.

Short supplies of available homes continued to drive up home prices according to NAR chief economist Lawrence Yun, who expressed concerns about affordability as home prices continued to outstrip wages and inflation. The national median home price was $239,700 in May, which was 4.70 percent higher year-over-year. Although first-time buyers typically represent about 40 percent of homebuyers, they currently account for 30 percent of homebuyers.

New Home Sales Fall in May

Sales of new homes slowed in May after jumping in April. According to the Commerce Department, sales of new homes fell by 6.00 percent on a seasonally adjusted annual basis. 551,000 new homes were sold against the expected reading of 560,000 new homes sold and April’s downwardly revised reading of 586,000 new homes sold. New home sales were 8.70 percent higher year-over-year in May.

Mortgage Rates Rise, Weekly Jobless Claims Fall

Last week’s mortgage rates don’t reflect the Brexit decision and rose slightly on Thursday. The average rate for a 30-year fixed rate mortgage was two basis points higher at 3.56 percent; the average rate for a 15.year fixed rate mortgage was also two basis points higher at 2.83 percent. The average rate for a 5/1 adjustable rate mortgage was unchanged at 2.74 percent. Discount points rose to 0.60 percent for a 30-year fixed rate mortgage but were unchanged at 0.50 percent for 15-year fixed rate mortgages and 5/1 adjustable rate mortgages.

What’s Ahead

Next week’s economic events include Case-Shiller Housing Market Indices, Pending Home Sales, Consumer Spending and Construction Spending

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

7326 W Villa Hermosa -- Glendale, AZ 85310

$639,900

3 Beds

2 Baths

2,057 SqFt

Status Active

MLS # 6766305

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 3 bedroom, 2 bathroom home, perfectly located in a cul-de-sac in North Glendale. This home boasts vaulted ceilings, creating an open and airy feel, and a spacious floor plan ideal for comfortable living. With a 3-car garage and an RV gate, there's plenty of room for parking and storage. The backyard is an oasis, featuring a sparkling pool and plenty of space for outdoor entertaining and relaxation. Whether you're hosting summer gatherings or enjoying a quiet evening by the pool, this backyard offers endless possibilities. Conveniently located near shopping, dining, entertainment, and with easy access to the freeway, this home provides both tranquility and convenience. *BONUS Pre-paid Tesla Solar Lease*

View Property

445 W Grant Avenue Williams, AZ 86046

$639,900

3 Beds

2.5 Baths

2,332 SqFt

Status Active

MLS # 6770424

Property Type Single Family Residence

Price Type --

*Owner willing to carry!* Welcome to 445 W Grant Ave. One of the largest, custom homes you'll find this close to downtown Williams! Situated perfectly on a corner lot, the grand entrance ushers you in to 9ft ceilings, a grand, great room with an open kitchen and dining room. The kitchen features a gas range, an oversized island, and an abundance of custom cabinets. Step into the capacious Primary bedroom with an en-suite bath. Primary room features grand, walk-in closets and private access to the back patio. Attached bath include dual sinks, a soaking tub and a custom, oversized shower. The home also presents two additional large bedrooms, a full bath and a partial bath for all your guest needs. This house does not lack in space or storage! With multiple, oversized storage closets, abundance in cabinets and the two separate, attached, oversized garages gives you all the storage you could need. The backyard is poised perfectly for low maintenance with space to enjoy the cool mountain county. This home would make an excellent short term rental with close access to downtown Williams, or a second home for easy lock and leave!

View Property

9237 E Sector Drive Mesa, AZ 85212

$639,900

4 Beds

3 Baths

2,224 SqFt

Status Active

MLS # 6774308

Property Type Single Family Residence

Price Type --

FORMER MODEL HOME! Ready for Quick Move-In. 4 BR + Loft / 3 BA. The home features a gourmet kitchen with white cabinets, black pulls throughout, quartz counter tops in the kitchen and a 'Mosaic Ripple' 2x8 brickwork stacked backsplash. This home features upgraded wood tile flooring throughout the downstairs and carpet flooring in the bedrooms. This home comes included with a Tankless Water Heater, REME Halo Whole House Air Purifying System and a Apple Pod Smart Home Kit.

View Property

5909 E Crocus Drive Scottsdale, AZ 85254

$639,900

3 Beds

2 Baths

1,416 SqFt

Status Active Under Contract

MLS # 6702362

Property Type Single Family Residence

Price Type --

Location location location in the MAGIC 85254 zip code. This single story popular Monterey model, block constructed Crane home is located within minutes of the Kierland corridor. Features include: light/bright ceramic tile, newer roof(2023), newer AC(2020), N/S facing, low maintenance landscape, stainless steel appliances, granite countertops, partially updated baths and lighting, oversized laundry, plenty of storage, private patios and no HOA. Opportunity is knocking...welcome home!

View Property

1415 E Monterey Street Chandler, AZ 85225

$639,900

4 Beds

3 Baths

2,321 SqFt

Status Active Under Contract

MLS # 6763096

Property Type Single Family Residence

Price Type --

This great 4 BR/3 Bath home is located in Superstition Ranch/AshleyPark community. It is surrounded by single level homes for privacy and has the desirable N/S exposure. The newly remodeled backyard & heated pool has artificial turf and a fun mural on the wall! New roof in 2024. New AC in 2022. Interior special features of this home are; crown molding, gas fireplace, surround sound, shutters, ceiling fans, skylight, 3 remodeled baths in 2019, water softener, RO, and stainless steel appliances.

View Property

318 N Washington Street Chandler, AZ 85225

$639,900

4 Beds

2 Baths

1,675 SqFt

Status Active Under Contract

MLS # 6759421

Property Type Single Family Residence

Price Type --

Walking Distance to Thriving Downtown Chandler In Silk Stocking Historic Neighborhood, Many opportunities for this Updated Duplex on a 7,449 Sqft Lot Across AZ Ave from Historic Chandler High School and Chandler Center of the Arts. Currently One Unit is MTM at $1950. The other is Ready For either Long Term Market Rents, Owner/User With Income. Both Units are 2 Bed 1 Bath/Tubs with Laundry, The back Unit has An Extra 450 sf Room with Its Own Outside Entry Door That Can Be Used for a Third Bedroom, Office Or Workshop with Air. Laminated Flooring in all living and Bedrooms with Tile in Kitchens and Baths. Security on All Doors and Keyless entry pads on Front Doors. All Facts and Figures are Approximate, Buyer to Verify to their own Satisfaction

View Property

2604 E Joan D Arc Avenue Phoenix, AZ 85032

$639,900

3 Beds

2 Baths

2,015 SqFt

Status Active Under Contract

MLS # 6760734

Property Type Single Family Residence

Price Type --

Welcome to your mountainside retreat! This beautifully designed 3-bedroom, 2-bathroom home boasts 2,015 sq. ft. of stylish living space, nestled on nearly half an acre. Enjoy breathtaking mountain/valley views from every angle, offering a serene backdrop to your daily life. Step inside to discover tastefully done finishes that seamlessly blend comfort and elegance. The heart of the home features a cozy flagstone fireplace, perfect for those chilly evenings. The open-concept layout flows effortlessly from the living area to the kitchen, ideal for entertaining family and friends. PVUSD schools. Seller Financing Available. Buyer to verify all facts and figures

View Property

23081 E Camina Buena Vista Queen Creek, AZ 85142

$639,900

4 Beds

3 Baths

2,308 SqFt

Status Active Under Contract

MLS # 6765773

Property Type Single Family Residence

Price Type --

SEE THE BEST HOME ON TOUR! Over $100k in today's value for upgrades w/ pool, spa, turf, corner lot, fireplace, wine bar, & much more! This 4-BR, 3 Bath SS popular floor plan has easy access to Meridian Rd & the 24. Wainscoting accent walls take you to the immediate views of the pool with rock waterfall located through the huge multi-slide door! Great room & Kitchen features custom built ins, wine bar, huge island w/ front storage, back splash, & upgraded 42'' upper cabinets with lighting. gas stove, & all stainless appliances. Large owner suite includes a barn door, large walk-in shower, double sinks, and huge closet. Split floor plan has 1 BR near full bath and 2 other BRs separated by den and full bath. RO, H2O Softener, driveway extension, tankless H2O heater. Highly desired community!

View Property

3817 E Irma Lane Phoenix, AZ 85050

$639,900

4 Beds

2 Baths

1,782 SqFt

Status Active

MLS # 6743565

Property Type Single Family Residence

Price Type --

Explore your dream home in Wildcat Ridge with this 4-bedroom gem that backs onto an open, unobstructed area. This property features vaulted ceilings, wood and tile floors, and plantation shutters. The spacious living room and bright great room offer perfect spaces for relaxation and entertainment. The kitchen is a chef's delight with white cabinetry, built-in appliances, a pantry, sleek granite counters, and a center island with a breakfast bar. The main suite provides a serene retreat with a private bathroom boasting dual sinks, a soothing tub, and a walk-in closet. Added convenience comes from a laundry room with extra storage. Outdoors, enjoy a covered patio, paver patio, and ample space for gatherings. It won't disappoint! Experience this captivating abode yourself! Easy access to Desert Ridge Marketplace, High Street, Marriott, Golf, American Express, Mayo Hospital and ASU medical campus. Then jump on the 101 for easy access to Scottsdale, Spring training, airport and more.

View Property

17667 N 54th Avenue Glendale, AZ 85308

$639,900

4 Beds

2.5 Baths

3,596 SqFt

Status Active

MLS # 6783835

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the highly sought-after Touchstone Community! This inviting 4-bedroom residence w/a 3-car garage is perfect for entertaining & creating lasting memories. Discover the bright & airy living room, raised formal dining room, & a sizable family room. A blend of tile & wood-look flooring, soaring vaulted ceilings, & ceiling fans are worth mentioning. Well-appointed kitchen offers recessed lighting, built-in appliances, a handy pantry, granite counters, a center island w/a breakfast bar, abundant cabinetry topped w/crown moulding, & a breakfast nook. You'll LOVE the carpeted primary retreat, featuring an ensuite w/dual sinks, make-up desk, & a walk-in closet. Additionally, this haven includes a den/office & bonus room ideal for an extra bedroom or recreation center. Serene backyard will impress you w/a covered patio, exterior fireplace, play area, & a refreshing pool. This gem is sure to sell fast!

View Property

11256 E Ulysses Avenue Mesa, AZ 85212

Open House

$639,900

5 Beds

4.5 Baths

3,063 SqFt

Status Active

MLS # 6786059

Property Type Single Family Residence

Price Type --

Welcome to this Gorgeous 5BRs/4.5 Baths, plus Loft, 3058 Sq. feet Gem. There is a Full BR/with an Attached Bathroom downstairs for your convenience along with a Powder Bath. The Flooring consists of the Upgraded Tile in all the Right areas. Stunning Kitchen comes with Granite Countertops, White Shaker Cabinets, Stainless Steel Appliances, and a Spacious Island. Going Upstairs, you are immediately greeted with the Can't miss-Oversized Loft. All the Rooms upstairs have Walk-In Closets. The Laundry provides plenty of space for all of your Use. The Larger than Life Backyard has been given a Makeover with the addition of Artificial Turf with Plenty of Room for more Ideas. Front Drive way Pavers have been extended all the way out to the Side gate for extra comfort. Home has been extremely well cared for. Why Buy Brand New when you can have a Gently used one with all the Added Updates Minus the Extra expense.

View Property

18321 E Spring Valley Court Rio Verde, AZ 85263

$639,854

2 Beds

2 Baths

1,678 SqFt

Status Active

MLS # 6765037

Property Type Single Family Residence

Price Type --

Welcome to this beautiful home in the Resort Collection at Trilogy at Verde River. The Valletta offers a well-thought-out layout with 2 bedrooms, 2 bathrooms, and an open office. The great room has a multi-slide glass door. You will love the Gourmet Chef kitchen with stainless steel wall appliances. The back patio is expansive with pavers and an extended patio. The primary suite has a lavish ensuite with a huge tiled shower and walk-in closet. Do not miss out on this home The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

View Property