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

13672 W Chaparosa Way Peoria, AZ 85383

$540,000

4 Beds

2.5 Baths

2,344 SqFt

Status Active

MLS # 6776614

Property Type Single Family Residence

Price Type --

Wonderful 4-bedroom home with no neighbors behind! Exquisite curb appeal, 2-car garage + extended driveway, cozy porch, and low-care front yard w/mature trees. Immaculate interior features a carpeted living room, two-tone paint, fire sprinklers, and a powder room w/pedestal sink. Chef's kitchen showcases a center island w/breakfast bar, granite counters, wood cabinetry, stainless steel appliances, and recessed lighting. Continue upstairs to discover a large loft with endless entertainment possibilities! Beautiful owner's suite boasts a private bathroom with a separate tub/shower, dual sink vanity, and a walk-in closet. The oversized backyard sports a covered patio, lovely pavers, a view fence, and so much space for a pool, grass, etc. A move-in ready gem!

View Property

6774 S Taylor Drive Tempe, AZ 85283

$540,000

3 Beds

2 Baths

1,983 SqFt

Status Active

MLS # 6777975

Property Type Townhouse

Price Type --

It's time for the owner to downsize, so we've priced this home for a quick sale! She'll miss baking holiday cookies in the gourmet kitchen, especially since they somehow always turned out better than her sister's (don't tell her that). And those quiet evenings in the backyard, sipping coffee and thinking about how the Diamondbacks can make it to the World Series next year—priceless. Located in the highly sought-after Camelot Park Villas in Tempe, AZ, this home is close to Trader Joe's, Changing Hands Bookstore, Stroud Park, and the Sun Circle Trail. Enjoy a community pool, private backyard, front patio, and a den that could be a third bedroom (or maybe even a fan cave?). Ask your agent for the full photo package and walkthrough video—this gem won't last long!

View Property

16638 W Rincon Peak Drive Surprise, AZ 85387

$540,000

2 Beds

2 Baths

1,894 SqFt

Status Active

MLS # 6779465

Property Type Single Family Residence

Price Type --

Stunning Borgata floorplan home in Sun City Grand 2 bed 2 bath w/Den split bedroom floorplan. Private front courtyard w/kool decking. Front and back security screen doors, Shutters throughout, Tile on the diagonal, Bay at breakfast nook, rollout shelving, stainless appliances and Granite Counter tops. Built in media wall w/fireplace at great room. Carpet at bedrooms and den. Master bedroom bay window, Master bath double sinks & walk in shower. Laundry room cabinets. The extended covered patio has a east exposure, water feature, built in green egg charcoal grill and built in natural gas grill and abundant vegetation for a beautiful oasis style backyard. The garage has built in cabinets and workbench. You don't want to miss out on this beautiful home!

View Property

41115 N Eagle Trail Anthem, AZ 85086

$540,000

3 Beds

2 Baths

1,622 SqFt

Status Active

MLS # 6783658

Property Type Single Family Residence

Price Type --

*NEW AC AND NEW ROOF* Huge perk and hard to come by in Anthem! This spoiled home has the BEST location in ALL Anthem Parkside! It's located just around the corner from a pocket park and is settled in a cul-de-sac with a lush desert trailhead leading straight to the community center and K-8 school! SCORE! Location perks aside, this home has been completely and beautifully renovated and has been well-cared-for! We've got: New LVP flooring, bedroom carpet, and tall baseboards (no dingy tile anywhere!). Fresh paint throughout including all the solid wood cabinets topped with new modern granite countertops. All the appliances you see in the kitchen are brand-spanking-new, and you'll spot a darling dining chandelier accompanied by new modern black ceiling fans in all the important places. This home has an XL Primary Suite with backyard patio access and an en-suite bathroom, and plenty of space for the rest of the family to grow or visit with 2 extra bedrooms and bathroom! A big backyard that runs deep with mature landscaping and an expanding covered patio. And of course, the coveted 3-car epoxied garage with a wall lined with built-in storage! DON'T FORGET: the 2 fridges, above-ground spa, washer, and dryer are ALL INCLUDED! With too many perks to count, this listing will go fast! Come check it out before it's gone!

View Property

902 N Sailors Way Gilbert, AZ 85234

$540,000

4 Beds

3 Baths

2,002 SqFt

Status Active

MLS # 6785149

Property Type Single Family Residence

Price Type --

Beautifully updated single family split floorpan home. DOUBLE MASTER SUITES plus 2 additional bedrooms. One of the master bedrooms has separate exit to backyard. NEWER CARPET, NEWER PLANK VINYL FLOORING, NEWER INTERIOR PAINT. Large family room with real wood flooring. Kitchen with butcher block breakfast bar, white cabinets, stainless appliances including wine frig and newer dishwasher. Backyard with garden area and large storage unit. Walking distance to park. This is a super clean, move-in ready home that you do not want to miss out on.

View Property

8222 E Jan Avenue Mesa, AZ 85209

New

$540,000

4 Beds

2.5 Baths

2,562 SqFt

Status Active

MLS # 6787717

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Nestled in the desirable Heritage Crossing community, this beautifully upgraded 4 bedroom plus den/2.5 bathroom home blends modern design with thoughtful functionality. Every detail has been carefully curated to enhance your living experience. The heart of the home features an extended island with quartz countertops, sleek cabinet hardware, and custom lighting that exudes elegance. Perfect for entertaining or everyday living, the kitchen also boasts custom floating shelves, adding both style and practicality. A thoughtfully designed built-in desk area provides the perfect space for work, study, or organization, seamlessly integrated into the home's layout.Luxurious details abound in the bathrooms, with stunning designer tile, upgraded faucets with mixed metals, and an added door for privacy in the primary bathroom. The laundry room is fully equipped with a washer and dryer and is plumbed for a utility sink, making chores a breeze. Step into your beautifully landscaped backyard, complete with pavers and a lush grass area - an inviting space for outdoor relaxation, play, or entertaining. Situated in the sought-after Heritage Crossing neighborhood, this home enjoys proximity to excellent schools, shopping, dining, and entertainment options. With a welcoming community atmosphere and convenient access to local amenities and easy freeway access, this is the perfect place!

View Property

1094 W Heather Avenue Gilbert, AZ 85233

$540,000

3 Beds

2 Baths

1,627 SqFt

Status Active

MLS # 6787842

Property Type Single Family Residence

Price Type --

Totally highly upgrade immaculate and cozy home in the heart of Gilbert. Vaulted ceiling open layout, looks lot larger its actual listed square footage. All new flooring with 24'' x 48'' tiles throughout. White wood shuttle on all windows and sliding door. Granite countertop in kitchen. Both bathrooms remodeled with large standing shower room with glass door. Sophisticate light fixtures. Large backyard with covered patio. Close to all 3 main freeways in East Valley: 101, new 202, and freeway 60. Walking distance to Playa Del Rey Elementary school, McQueen Activity Center, Pickleball, Baseball, Basketball, Volleyball, and tennis practice courts. Just a mile + to Gilbert Downtown with lots of restaurants for your night life activities. Close to all major shopping centers and Gilbert hospital

View Property

4924 S Charger -- Mesa, AZ 85212

$540,000

4 Beds

3 Baths

2,242 SqFt

Status Active

MLS # 6787922

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom (3 upstairs, 1 downstairs), 3 bath (1 full bathroom downstairs), loft, & 3 car garage with full driveway. Washer, Dryer, and Fridge included! All front landscaping watered/maintained by HOA. There is a nice sized patio yard with grass area. Main floor leads you into an open great room and kitchen featuring upgraded cabinets, large island, granite counters, & stainless appliances. The multi panel glass slider brings in a lot of natural light. Upstairs is the spacious primary bedroom suite including a large shower, dual sinks, massive walk in closet! There is also a large loft that can be used as a flex space or an office, Don't miss out on this fantastic home in a highly sought after community!

View Property

1425 E Bobcat Circle Munds Park, AZ 86017

New

$540,000

3 Beds

2 Baths

1,642 SqFt

Status Active

MLS # 6788847

Property Type Single Family Residence

Price Type --

PRICED BELOW RECENT APPRAISAL! MUST SELL NOW! Three bedrooms, 2 bath, Chalet on heavily treed lot, Cul-de-sac Street, in desirable Animal Hill area and STEPS to the national forest! Enjoy beautiful panoramic views and the tranquility of this quiet street on the large deck that wraps around to the back fenced in yard. Kitchen and bathrooms have been updated (2023) as well as fixtures, lighting and showers. Ceiling fans, skylights, quartz countertops, wood fireplace, stainless appliances, pantry and walk-in closets are just a few of the features that make this home a beauty! Very large master suite and the entire layout provides plenty of living space in all the right places for your family and guests. 1 car garage and extra-large storage/workshop area next to the garage. Don't miss this rare opportunity to own a Chalet that sits on the upper end of Animal Hill! You will be walking distance to the well-known Pinewood Country Club and steps to the national forest! Very close to the lake, hiking/ biking trails, tennis and pickleball courts, park, restaurants, convenient store, and more! No HOA Munds Park is only 17 miles South of Flagstaff and a 2-hour drive from Phoenix to escape the heat! Come see your new home in our neck of the woods!

View Property

1001 W Tulane Drive Tempe, AZ 85283

$540,000

3 Beds

2 Baths

1,463 SqFt

Status Active Under Contract

MLS # 6761876

Property Type Single Family Residence

Price Type --

Don't Miss Out On This Amazing Tempe Home That Offers So Much * No HOA & On A 17,554 Sq Ft Lot * This Great 3 Bdrm & 2 Bath, Plus Bonus Den/Office is 1463 Sq Ft * This Move-In-Ready Single Level Home was JUST Freshly Painted on most of the Interior & Ext was Painted in 2020 * HUGE Master Bedroom with Bonus Sitting Room * N/S Exp * Extended Patio & Private Fenced Pebble-Tech Pool * Bonus Room/Den with 220V Outlet * Open Kitchen that's been Remodeled in 2021(Island Stay's) with SS Appliances * Whole Home Water System & RO * The Huge Back Yard has Multiple RV Parking Places & RV Gate & 30amp Service & Lots' of Mature Tree's * This Is a Tempe Treasure You Won't Want to Miss Out On * Close to Parks & Freeways

View Property

20559 N 94th Lane Peoria, AZ 85382

$540,000

3 Beds

2 Baths

2,173 SqFt

Status Active Under Contract

MLS # 6767049

Property Type Single Family Residence

Price Type --

SELLER TO CREDIT BUYER $3,000 AT THE CLOSING TOWARD EXTERIOR PAINT! Incredible opportunity to own a home on almost 1/4 acre lot in Dove Valley Ranch (NW Peoria)! For those that have motorized toys, this is a convenient location on your way to Lake Pleasant. The RV gate & large side yards are perfect for a trailer & any other storage needs that you may have. As you enter through the large 8' door, you are greeted by a large formal living / dining room. There is tile in all of the main walkways w/ newer carpet that was installed earlier this year. This home is light & bright with a wide-open kitchen that seamlessly flows to the family room. The kitchen features honey maple cabinets, tons of counter space, a pantry, SS appliances, island w/ breakfast bar, eat-in dining area & no shortage of cabinet space for extra storage. The living room is very large & can accommodate any furniture arrangement that is desired. The living room & the adjacent den / office take full advantage of the great views of the pool in the backyard. The builder created an amazing floor-plan here by allotting the square footage where it is needed most; including the large primary bedroom that is split away from the guest bedrooms. The primary bathroom features double sinks, a separate shower / tub, private toilet room, & a huge walk-in closet. The backyard is AMAZING w/ a beautiful play-pool that includes a tiled water feature, kool-decking, a covered + un-covered patio area & a grassy space w/ concrete curbing. Peoria has some of the top rated schools around, along with plenty of shopping & dining nearby - you won't want to miss this.

View Property

2944 E Avalon Drive Phoenix, AZ 85016

$540,000

4 Beds

2 Baths

1,590 SqFt

Status Active Under Contract

MLS # 6787000

Property Type Single Family Residence

Price Type --

This beautiful, remodeled home offers 4 bdrm & 2 modern baths in a convenient location. Situated on a corner lot with a north/south exposure, the property boasts a large front yard, perfect for outdoor activities & curb appeal. Inside, you'll find a remodeled kitchen with updated appliances & cabinets w/ quartz countertops, ideal for cooking & entertaining. The remodeled bathrooms offer a fresh, contemporary feel. The home also includes an inside laundry room for added convenience. Additional features include a game rm, perfect for family fun or as a versatile living space. The backyard features a ramada, offering a shaded area for outdoor dining or relaxation. With a newer roof, newer AC & newer windows, this home has been upgraded for comfort & efficiency. This home is move-in ready!

View Property