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

917 W Desert Hills Estate Drive Phoenix, AZ 85086

$614,000

3 Beds

2 Baths

1,600 SqFt

Status Active

MLS # 6750600

Property Type Single Family Residence

Price Type --

Looking for trail options to ride your horse from home? This horse property has three desert trailhead options within a mile of the home. This well-maintained, single-owner 3-bedroom, 2-bathroom home spans 1,600 SF on a spacious 1.125-acre lot, offering the perfect blend of rural charm, and modern conveniences. The property features a horse corral, a one-horse mare motel, and a detached 24x14 Tuff Shed/tack room, ideal for a tack room or storage. Situated on a private road with only two other residences, you'll enjoy unparalleled seclusion with an untouched natural desert lot to the north. Breathtaking mountain views and a serene country lifestyle. This move-in-ready home includes a two-car garage and an outdoor water feature that adds a soothing touch to your outdoor space. The open floor plan seamlessly connects the kitchen, dining, and living areas, while the split layout ensures privacy for the master suite. The master bedroom boasts dual sinks, a private toilet, and a tiled walk-in shower. Recent upgrades include a new roof in 2022, a new AC unit in 2017, exterior paint in 2021, and a new septic system in 2023. The home also features all-new windows (except the garage) installed in 2021, New kitchen counter tops, kitchen sink and faucet 2021, and newer appliances including a 2021 refrigerator, built-in microwave, a 2022 dishwasher, and a 2018 washer. The well is a 4 share well. This North Phoenix rural horse property offers the tranquility of country living while being conveniently close to the Carefree Highway, I-17, restaurants, shopping, and other amenities. Horse riding trails into the vast desert is a short 4,000 feet away. Don't miss out on this exceptional opportunity!

View Property

7437 W Bloomfield Road Peoria, AZ 85381

$614,000

3 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6765758

Property Type Single Family Residence

Price Type --

Rare Opportunity to own a 17,942 sq foot lot size, No HOA,RV Parking,Separate additional 2 car garage(detached) with guest room and that is Move in Ready. Home boast nice tile flooring, updated kitchen with white quartz countertops, stainless Steel Appliances. and plenty of cabinet space with beautiful white plantation shutters. Ceiling fans in all bedrooms and living room. Great Sized backyard with pool that was recently resurfaced.There can be 6 Additional parking spaces in the backyard that can fit RVs and trailers. High concrete wall offers more privacy.Exterior of home has fresh new paint, newer water heater and master bathroom has been recently updated. Come view now before it's too late!

View Property

22647 E Avenida Del Valle -- Queen Creek, AZ 85142

$614,000

5 Beds

3 Baths

2,799 SqFt

Status Active

MLS # 6773273

Property Type Single Family Residence

Price Type --

This beautifully designed 5-bed, 3-bath home in the Meridian community offers 2,799 sqft of modern living space, built in 2018. Featuring tile throughout the main areas, with carpet in the bedrooms, a massive family room, and a 3-car garage, this home blends style and functionality. Plus, the paid-off solar provides excellent energy savings! Enjoy Meridian's 5,000 sqft pool, parks, and scenic trails, along with the nearby Frontier Family Park offering playgrounds and picnic areas. This stylish, move-in ready home is a must-see in one of Queen Creek's most desirable communities!

View Property

25742 N 103rd Drive Peoria, AZ 85383

$614,000

3 Beds

2 Baths

2,172 SqFt

Status Active

MLS # 6760450

Property Type Single Family Residence

Price Type --

Amazing View lot with all the incredible features you dream of! To start, you enter into this home with soaring 10-foot ceilings, then into the large open kitchen with an entertainers Granite countertop, stainless appliances, 16 Inch tile throughout, gas fireplace, large family room, extended covered back patio looking out over the horizon and awesome mountain views! Split floorplan with very private master Suite with exit onto the patio, Garage is extended with a service door leading to an RV parking area and RV gates. This is a well sought after community in the Peoria public school district, and only a few miles of Several National Acclaimed Charter Schools. Easy access to loop 303-I-10 AND the 101. This home is a MUST SEE!! Don't miss your opportunity 2 Own this one!

View Property

537 W Mountain Vista Drive Phoenix, AZ 85045

$614,000

4 Beds

2 Baths

2,050 SqFt

Status Active

MLS # 6751364

Property Type Single Family Residence

Price Type --

INTERIOR HAS BEEN FRESLY PAINTED Home has perfect floor plan w/ large open living area w/ slate & hard wood floors, double door office/fourth bedroom. Kitchen features large granite breakfast bar, newer raised panel dove tail drawer cabinets & glass tile back splash & stainless steel appliances. All open to family room w/ fireplace & views of oversized covered patio & diving pool, built In spa. Entire home has natural slate tile flooring and vaulted ceilings through out. Three car garage has Incredible Built In Cabinets And Plenty Of space for vehicles & toys. Roof is three years old & HVAC is also newer for ease of future comfort. home Is Incredible & quietly located In the Foothills Club West w/ easy access to freeway travel. Home backs to old Club West Golf Course on double fairway.

View Property

17728 N Deer Trail Maricopa, AZ 85139

$613,000

4 Beds

3 Baths

1,940 SqFt

Status Active

MLS # 6735874

Property Type Manufactured Home

Price Type --

This 2.49 acre property in Hidden Valley has it all! This gorgeous MOVE-IN READY home is just over 1900 sq ft. Western style property inside and out! The home features 4 bedrooms and 3 full bathrooms, and formal dining. Split floor plan with the main bedroom opening to an en-suite bathroom. Full length parking stalls along the side of the home. The property has a fully finished workshop & chicken coop equipped with a misting system. No HOA, shared well, fully fenced with GORGEOUS MOUNTAIN VIEWS and only minutes from city amenities! Bring your horses & make this home yours today. Truly a must see!

View Property

30009 W Latham Street Buckeye, AZ 85396

$612,999

3 Beds

2 Baths

1,512 SqFt

Status Active

MLS # 6784437

Property Type Single Family Residence

Price Type --

NO APS BILL SINCE MAY 2023 due to Paid In Full 50 Solar Panels generating energy & energy credits. If power goes out, SolarEdge Inverter automatically switches on the backup Liquid Cooled 22kw Generac Generator, powered by a 500 gallon propane tank. Energy Efficiency Complimented by: Renewal by Andersen Windows, Renewal by Andersen Sliding Arcadia Door, Detached Steel Building 27' x 30' x 10' low to 13'9'' high - Door 16' wide x 10' tall great for Tractor, RV or Horse Trailer, Horse property, Livestock, Miniature Horse Paddock, Enclosures, chickens, ducks, goats, rabbits, pigs, dogs, feral cat, Two 16' back property entry gate, openings, RV Gate, RV Parking, Adjusted And Replaced Tension Spring On Attached To House Garage Door, New Roof & Bath Skylight, Lennox 4 Ton 16 SEER AC Heat Pump, Lennox AC surge protector, 40/50 Gallon Hot Water Heater, Hot Water Heater Timer, Attic Of Home & Garage Filled With Maximum Allowed Insulation, Kitchen 24.9 cu' Refrigerator, (5) 52 9 Blade Ceiling Fans, New Kitchen Bath Quartz Countertops, New Sinks, Faucets And Towel Bars, New Dishwasher, New Electric Oven Range, Replaced All Interior Outlets, Covers, Switches & 3 Exhaust Fans, 20 Amp Dedicated Circuits-Outlets Inside Home-One Exterior By Breaker Box, Replaced All Interior Outlets, Covers, Switches & 3 Exhaust Fans, Security Front Entry Door, New Paint Interior and Exterior Of Home, Wheelchair Ramp to Front Door

View Property

28266 N 134th Drive Peoria, AZ 85383

$612,817

3 Beds

2 Baths

2,105 SqFt

Status Active

MLS # 6786771

Property Type Single Family Residence

Price Type --

A soon to be complete single-story Dove with a Ranch exterior elevation style. This 3-bedroom home plus a flex room offers 2 baths and a 3 car tandem garage. The kitchen features stainless steel appliances and stylish cream-tone cabinetry with matte black hardware and beautiful white quartz countertops. Throughout the home, find upgraded baseboards and wood-like tile. The home and community are at the base of a mountain and are near Vistancia. Home warranty included.

View Property

948 N 87th Street Scottsdale, AZ 85257

$612,546

3 Beds

2 Baths

1,484 SqFt

Status Active

MLS # 6776414

Property Type Single Family Residence

Price Type --

Prime Scottsdale Cul-de-Sac Home Near Old Town & Fashion Square Discover this stunning Scottsdale home, perfectly located near Old Town Scottsdale, Fashion Square, and top-rated restaurants. Enjoy elegant engineered hardwood floors and a spacious, open kitchen with scenic views, perfect for entertaining. The master bedroom features a private garden view and a luxurious walk-in tiled shower. The central courtyard enhances indoor-outdoor living, while the yard offers beautiful sunrise views. Additional features include a removable pool fence, energy-efficient windows (2016), and 220-volt outlets. Close to community trails and the Scottsdale wash trails, parks, and the vibrant Scottsdale lifestyle—don't miss this exceptional home!

View Property

8133 E Sunwing Ridge Drive Hereford, AZ 85615

$612,000

4 Beds

4 Baths

3,268 SqFt

Status Active

MLS # 6781824

Property Type Single Family Residence

Price Type --

View Property

10864 E Texas Avenue Mesa, AZ 85212

$611,888

4 Beds

3 Baths

2,358 SqFt

Status Active

MLS # 6761150

Property Type Single Family Residence

Price Type --

MLS#6761150 February Completion! Introducing the exquisite Paisley floor plan at La Mira Discovery, featuring 4 bedrooms, 3 bathrooms, a loft, and an attached 2-car garage. Step through the welcoming front porch and down the extended foyer to find a private bedroom and bath—ideal for guests or family. Beyond the staircase lies the expansive gathering room, a spacious kitchen with an island, and a connected dining area, perfect for everyday living and entertaining. Upstairs, you'll discover two additional bedrooms, a versatile loft, a convenient laundry room, and an impressive owner's suite. Structural options include: soft water loop, extended covered outdoor living, garden tub at primary, shower in lieu of tub at secondary bath, and paver front porch.

View Property

4321 Sawbuck Way Wickenburg, AZ 85390

$611,595

3 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6770394

Property Type Single Family Residence

Price Type --

Flourish, Homestead, 2 bed 2 bath, Design materials and selections made personally by the talented Shea interior design team, Induction builtin appliance package, matte black accents throughout, heavy glass enclosure at primary bath, upgraded quartz counters at kitchen and both bath, custom designed mosaic tile at kitchen and both bath, cabinet pull outs and recycling with pull out drawers under cooktop, service door at garage, 15ft sliding wall of glass at living room, upgraded electrical throughout, over $23,000 in upgraded tile flooring throughout the house, 4ft garage extension, custom landscape and irrigation at front and back, under cabinet lighting at kitchen. Discover current incentives at Shea sales office.

View Property