What’s Ahead For Mortgage Rates This Week – June 6, 2016

Last week’s housing related news was limited to Construction Spending and Freddie Mac’s mortgage rates survey, but labor reports suggested an economic slowdown may be in the works.

Construction Spending Slips in April, Mortgage Rates Mixed

According to the Commerce Department, overall construction spending slipped in April to -1.80 percent as compared to March’s reading of +1.50 percent and May’s expected reading of +0.70 percent. Residential construction spending was 1.50 percent lower, which doesn’t help ongoing shortages of available single-family homes. Builders have repeatedly cited labor shortages and lack of developed lots as obstacles to building more homes. Year-over-year construction spending was 4.50 percent higher.

Freddie Mac reported higher rates for fixed-rate mortgages while the average rate for a 5/1 adjustable rate mortgage was one basis point lower at 1.87 percent. Rates for a 30 year fixed rate mortgage averaged two basis points higher at 3.66 percent; rates for a 15-year fixed rate mortgages were three basis points higher at 2.92 percent. Average discount points were unchanged for all loan types at 0.50 percent.

Labor Reports Indicate Slowing Jobs Market And Economy

According to the Non-farm Payrolls report for May, U.S. jobs increased at their lowest rate in five years with 38,000 new private and public sector jobs added. Temporary hiring also hit its lowest reading in seven years, which was seen as a negative as temporary jobs often transition to permanent positions.

Analysts said that May’s extremely low reading for jobs created indicates that a revision is likely. This inconsistency was supported by the national unemployment rate of 4.70 percent, but the lower jobless rate was attributed to workers leaving the labor force.

ADP’s May reading for private sector jobs rose to 173,000 jobs against expectations of 165,000 jobs and April’s reading of 268,000. This reading was further evidence that the Non-farm Payrolls report was likely inaccurate.

Last week’s new jobless claims fell to a five-week low of 267,000 as compared to expectations of 279,000 new claims and the prior week’s reading of 268,000 new claims.

What’s Ahead This Week

Economic news scheduled for this week include a speech by Federal Reserve Chair Janet Yellen on Monday; this speech could foreshadow the Fed’s decision to raise or not raise the Fed’s target federal funds rate during its FOMC meeting later this month.

Readings on job openings and consumer sentiment will be released along with weekly reports on mortgage rates and new jobless claims.

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

19039 N 90th Lane Peoria, AZ 85382

$549,000

2 Beds

2 Baths

1,855 SqFt

Status Active

MLS # 6786641

Property Type Single Family Residence

Price Type --

This beautifully remodeled 2-bedroom, 2-bathroom home in Peoria, AZ, offers a fresh, modern living experience in a highly desirable location. With stylish upgrades throughout, the home provides a comfortable and inviting atmosphere perfect for both relaxing and entertaining. Situated in a welcoming neighborhood with easy access to local amenities, parks, and major highways, this turn-key property is ideal for anyone looking to enjoy the best of Peoria living. Don't miss the opportunity to make this stunning home your own!

View Property

16900 W Pinchot Avenue Goodyear, AZ 85395

$549,000

2 Beds

2.5 Baths

1,915 SqFt

Status Active

MLS # 6786839

Property Type Townhouse

Price Type --

Lovely, well appointed and ready for you! This lock-and-leave villa features included landscaping that is maintained by the HOA. Ease of living with all that the award winning PebbleCreek community has to offer. What an opportunity! Please come by the new homes sales office and model gallery at PebbleCreek for a tour of this home and more.

View Property

3935 N 151st Avenue Goodyear, AZ 85395

$549,000

2 Beds

2 Baths

1,759 SqFt

Status Active

MLS # 6787094

Property Type Single Family Residence

Price Type --

Beautiful, Extended Greenbriar with Golf Cart Garage plus OWNED SOLAR SYSTEM in Active Adult Golf Course Community in Pebble Creek. Living / Gas Fireplace and Dining Room overlooking Kitchen with upgraded Cabinets, Granite countertops, Breakfast Bar, and Stainless Steel Appliances. Cozy Dinette with walk-out to a Private Covered Patio, BBQ and Patio Furniture to relax plus low maintenance Landscaping, with lot big enough for a Casita. Spacious Master Bedroom and Bathroom with Double Sink, Walk-in Shower and Walk-in Closet. Den with Double Door. This Golf Course Community has so much to offer including Pools, Spas, Pickleball, Tennis Courts, Work-out Facilities, Crafts, Theatre, Banquet Hall, Restaurants, Entertainment Bars and much more. **This Beauty is waiting for you**

View Property

17217 W Young Street Surprise, AZ 85388

New

$549,000

5 Beds

3.5 Baths

3,376 SqFt

Status Active

MLS # 6787698

Property Type Single Family Residence

Price Type --

This spacious home is situated on a premium lot with no neighbors to the rear, is adjacent to a common area and across the street from the community park. The home has five bedrooms, one of the bedrooms is a downstairs office with custom built in bookcase and desk adjacent to a downstairs full bath. Upstairs are the remaining four bedrooms plus a large loft that offers flexibility as a 2nd living room or kids play area. In the backyard enjoy your private pool, synthetic grass lawn and a full length covered patio. There is plenty of room to park four cars in your double 2 car garages, each one with built in cabinets. If you're looking for space and comfort, this property is a must-see.

View Property

2427 W Hearn Road Phoenix, AZ 85023

$549,000

4 Beds

3 Baths

2,344 SqFt

Status Active Under Contract

MLS # 6739390

Property Type Single Family Residence

Price Type --

No HOA! Beautiful tri-level home in the sought after community of Thunderbird Valley. This lovely home features 4 bedrooms, 3 bathrooms. 1 of the bedrooms would be perfect for a guest suite. This home has a gorgeous backyard with a fenced in pool and a grassy area as well as a covered patio. Great home, great price. Come take a look!

View Property

36855 S Rincon Road Wickenburg, AZ 85390

$549,000

2 Beds

1.5 Baths

1,740 SqFt

Status Active Under Contract

MLS # 6762676

Property Type Single Family Residence

Price Type --

Don't miss the chance to own this exceptional home nestled at the top of the canyon, offering breathtaking views and unparalleled seclusion adjacent to BLM land. Designed to harmonize with the surrounding desert landscape, this unique Earth Home sitting on 8 acres is partially covered by earth keeping it cool during those hot summer days. Bring the horses along too. There is ample flat space for a small barn and pens with RV hookups close by. This home is perfect for those who appreciate nature and desire a serene lifestyle. With a little TLC, you can transform this gem into your dream getaway. Act fast—properties like this don't last long!

View Property

9505 E Cherrywood Drive Sun Lakes, AZ 85248

$549,000

3 Beds

2 Baths

2,123 SqFt

Status Active Under Contract

MLS # 6778738

Property Type Single Family Residence

Price Type --

GORGEOUS Palacia Plus model w/ 3 Bedroom, 2 Bath & DEN in GATED ADULT COMMUNITY of OAKWOOD featuring: 2022 ROOF, 2018 AC, vaulted ceilings, freshly painted interior, SHUTTERS, WOOD-LOOK TILE FLOORS & NEW carpet. Beautiful EAT-IN kitchen has CORIAN counters, professionally painted cabinets, GAS STOVE & is open to the FAMILY ROOM. SPACIOUS MASTER w/ a LARGE WALK-IN CLOSET, double sinks & sliding door to the patio. Two guest bedrooms, DEN & Full guest bathroom. Large, 10,000sf lot w/ expansive PAVER PATIO, ARTIFICIAL TURF & beautifully landscaped yard. EXTRA STORAGE SPACE in the laundry Room & EXTENDED 2-CAR GARAGE. COME ENJOY THE GOOD LIFE IN SUN LAKES w/ community amenities like: Golf, Tennis, Pickleball, Pools, Spas, Fitness Center, Clubs, Social Activities & Restaurants!

View Property

6109 S 68th Avenue Laveen, AZ 85339

$549,000

5 Beds

3 Baths

3,402 SqFt

Status Active Under Contract

MLS # 6781655

Property Type Single Family Residence

Price Type --

Your new home is waiting for YOU! This well maintained home offers 2 car garage, extended driveway for extra parking, RV gate, and low maintenance front yard. Incredible inside offers plank style laminate and tile, No carpet, 5 bedrooms, 3 baths, formal living & dining rooms, den/office that could easily be used as another bedroom, and large loft area can be used for a bonus room or pool table. Chef's kitchen is comprised of Stainless Steel appliances, Gas Stove, island, mosaic backsplash, walk-in pantry, and ample counter/cabinet space. Upstairs master suite includes walk-in closet, full bath, dual sinks, separate tub, and step-in shower. Huge backyard has built-in BBQ & covered patio extended with pavers. The Lot is almost 1/3 Acre! HUGE RV Gate area and plenty of space to use it! 3 Bay Garage/ 2 door entry, tone of extra space. Whole house sprinkler system. Close to Freeways, Sprouts, Home Depot and restaurants. Trailside Point community park features a fishing lake, water splash pad and covered play area. The Laveen Schools are rated A+! Don't miss this opportunity!

View Property

23079 E Stacey Road Queen Creek, AZ 85142

New

$549,000

5 Beds

3 Baths

1,950 SqFt

Status Active

MLS # 6789264

Property Type Single Family Residence

Price Type --

A pristine home with true 5 bedrooms & new (18) panels of solar that is completely paid for. The yards(front & back) is complete & has been replanted for the winter. There are many ''smart'' features in the home & the sellers own the security system, Ring camera, soft water and RO. Plenty of cabinets with stone counters give this home a near-new look. Owners suite is split from other bedrooms & is very roomy. This community is conveniently located to multiple schools, shopping, & lots of great activities. Check out this money saving home today.

View Property

20412 N Aurora Drive Sun City West, AZ 85375

New

$549,000

3 Beds

2 Baths

2,306 SqFt

Status Active

MLS # 6789376

Property Type Single Family Residence

Price Type --

Amazing home with an expansive pool oasis that just flows out from the home! Golf cart garage plus 2-car! Neutral vertical rectangular tile. 1997 Shasta gas-heated pool with newer sand filter, variable speed pump. new backwash. Master bedroom has large compartmentalized walk-in closet with frosted sliding doors, double sinks with lighted bowls, rain shower Formal dining room, surround sound interior and pool area, electric fireplace, ring cameras, skylights and solar tube, small office, Stunning kitchen/family room area overlooking pool area. Granite kitchen has instant hot water, breakfast area, two pantries. Pool area has L-shaped pool. Large outdoor kitchen, portable raised garden all under pergola roof. AZ sweet orange, pomegranate and ruby grapefruit trees. Dual HVAC Systems.

View Property

6441 S Roosevelt Street Tempe, AZ 85283

$549,000

3 Beds

2 Baths

1,797 SqFt

Status Active

MLS # 6737382

Property Type Single Family Residence

Price Type --

So many upgrades in this beautiful home located in a quiet community with no HOA and walking distance to Celaya Park! Just freshly painted. Pride of ownership. Kitchen remodelled in 2023 with tons of cabinet space, extended island and new flooring; windows and patio door replaced in 2022, newer AC, roof is 10 years old, bamboo flooring in the living room and bedrooms; electrical upgrades including subpanel; new automatic blinds, remodeled bathrooms. Newer patio roof. Pool just got a new liner (July 2024), comes with a warranty! Don't miss out on this amazing home.

View Property

16290 W Mission Cove Lane Surprise, AZ 85374

$549,000

3 Beds

2 Baths

2,282 SqFt

Status Active

MLS # 6700423

Property Type Single Family Residence

Price Type --

Experience elevated living in this exquisite 3 BR stunning Stonecrest home, gracefully set on a large, private, & well landscaped lot. Ideal for hosting with the extended patio, an entertainer's dream, showcasing a full outdoor kitchen with a Big Green Egg, stovetop, and sink. The kitchen is perfect for creating culinary experiences under the stars. Indulge in the Aria Spa, a 5-seat, 42 jet Jacuzzi designed for ultimate relaxation, featuring a refrigerated cooler for the summer or an easy ''summerizing'' option for seasonal residents. Inside you will experience an open floor plan with soaring vaulted ceilings and seamless tile flooring. The great room & kitchen combination is a centerpiece for gatherings, while split bedrooms ensure a serene retreat for you and privacy for your guests.

View Property