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

62 W Melody Drive Gilbert, AZ 85233

$539,900

4 Beds

2.5 Baths

2,020 SqFt

Status Active

MLS # 6724921

Property Type Single Family Residence

Price Type --

Perfect LOCATION. Within 2 miles you'll find Sam's, Fry's, Trader Joe's, Sprouts, Walmart, restaurants, and access to Hwy 60. 3' of insulation in attic gives an average electric bill of $165/mo. Nearly everything in this home is new/newer--$40,000 kitchen with soft-close doors/drawers, pull-out shelves, slab granite, baths updated, high-quality tile/carpet, $10,000 banister to 2nd floor, new lighting, faucets, water heater, exterior paint 2019, roof restacked 2015 w/ 30-yr underlayment, AC 2013, cul-de-sac, professionally installed turf in back yard, ultra-quiet garage door opener, garage ceiling rack storage system, newer sunscreens, extended patio. No homes directly behind. HOA super low at only $95/qtr. Great, very quiet neighborhood with friendly neighbors.

View Property

14424 N 41st Court Phoenix, AZ 85032

$539,900

3 Beds

2 Baths

1,400 SqFt

Status Active

MLS # 6725145

Property Type Single Family Residence

Price Type --

Fully renovated & ready to move in property on a premium corner lot at Paradise Valley Oasis! This amazing home offers a large front yard with a no-fuss desert design and a 2-car garage. Discover an open concept with spacious living areas that merge seamlessly, promoting a greater traffic flow. This immaculate interior boasts new features throughout; recessed lighting, ceiling fans, soft paint, wood-look tile flooring, energy efficient windows, and contemporary LED fixtures. The brand-new kitchen showcases sophisticated white cabinetry, sleek quartz counters, new SS appliances, and an island with breakfast seating. The primary suite has a closet and an impeccable bathroom with a new sink vanity & a floor-to-ceiling tiled shower. Secondary bedrooms have closets w/ modern barn-style doors. In the massive backyard, you'll find endless potential to get creative & make it your own. Unbeatable location! Near schools, markets, restaurants, parks, shopping, and easy access to Fwys. What is not to like? Make an offer today!

View Property

16916 E Alamosa Avenue Fountain Hills, AZ 85268

$539,900

3 Beds

2 Baths

1,548 SqFt

Status Active

MLS # 6748638

Property Type Single Family Residence

Price Type --

Charming single level house in quiet neighborhood. No HOA, spacious lot. Vaulted ceilings, newer vinyl windows throughout, updated baths, large indoor laundry with utility sink. All tile floors, no carpet! Desert landscaping front and back. Close to schools, shopping and parks.

View Property

12432 N 142nd Court Surprise, AZ 85379

$539,900

4 Beds

3 Baths

3,300 SqFt

Status Active

MLS # 6741692

Property Type Single Family Residence

Price Type --

Gorgeous inside & out! Home features an IDEAL FLOORPLAN with formal living & dining areas, as well as a spacious separate family room, LARGE BEDROOM/DEN & 3/4 BATH DOWNSTAIRS, plus high ceilings, neutral paint & beautiful tile in all the right places. Open, exquisite kitchen & dining areas boasting GORGEOUS GRANITE counter-tops, GAS STOVE, & 2 BREAKFAST BARS. The den/guest room is separated from the family room by beautiful barn doors, & the custom granite throughout is spectacular. Upstairs boasts a LOFT, two nice sized bedrooms, & a huge primary retreat & bath. Plus, you will love the AMAZING BACK YARD, complete with a large covered patio, gazebo, & grass. All this and it is the last house on a CUL-DE-SAC with a HUGE LOT! Hurry, don't miss out on this incredible opportunity!

View Property

357 W Canyon Street Apache Junction, AZ 85120

$539,900

3 Beds

2 Baths

1,899 SqFt

Status Active

MLS # 6744802

Property Type Manufactured Home

Price Type --

This beautiful home surrounded by amazing Mountain Views and City Lights all from your very own porch. The 1.25 acres allows for the big garage/workshop big enough for the RV, toys and hobbies. Many upgrades in the inside of the home starting with the open spacious gourmet Kitchen with lots of counter space. Large Farm sink with beautiful cabinets and stainless-steel appliances. Open floor plan with tile laminate flooring through-out, a formal dining area, large bedrooms with walk-in closets. The Master bathroom has double sinks and a huge shower.

View Property

26618 S New Town Drive Sun Lakes, AZ 85248

$539,900

3 Beds

2 Baths

1,823 SqFt

Status Active

MLS # 6745036

Property Type Single Family Residence

Price Type --

What a beautiful dream home! This 3-bed, 2-bath residence nestled in the adult Community of Sun Lakes is the one! Enter through the double doors to discover an updated spacious open floor plan that promotes a modern feel. Wood-look tile flooring, fresh neutral palette, updated light fixtures, ceiling fans add to the house's charm. Upscale kitchen includes plenty of crisp white cabinetry, stainless steel appliances, quartz counters, and an island with a breakfast bar. Check out the large main retreat, boasting plush carpet, direct outdoor access, two well-sized closets, and a pristine ensuite with a step-in shower. Secondary bedrooms provide plantation shutters. Finally, the generous-sized backyard has a covered patio perfect for entertaining! Move-in ready! What are you waiting for?

View Property

11543 E Quade Avenue Mesa, AZ 85212

$539,900

4 Beds

2.5 Baths

2,385 SqFt

Status Active

MLS # 6748907

Property Type Single Family Residence

Price Type --

Beautiful home with OVERSIZED lot! Mountain VIEWS! Expansive backyard features an extended patio, fenced pebble-tec, pool w/waterfall feature, plenty of grass, additional concrete slab SPORT COURT*French doors open to a den*LARGE loft*New carpet and new paint throughout*Kitchen is a chef's delight, featuring granite counters, SS appliances, a walk-in pantry, and a breakfast bar*Spacious master bedroom, dual sinks, separate tub/shower, and two HUGE walk-in closets*The garage includes attached cabinets for extra storage*North/South exposure*Located close to schools, shopping, restaurants, golf, airport, parks, AZ Athletic Grounds, ASU Polytechnic Campus, and easy access to Highway 202, 60, 24 freeways!

View Property

1723 W Mercury Way Chandler, AZ 85224

$539,900

4 Beds

2.5 Baths

2,018 SqFt

Status Active

MLS # 6750702

Property Type Single Family Residence

Price Type --

Welcome to Rialto Hills! Walking /Biking Distance to Historic Downtown Chandler Restaurants/Entertainment! Talk About Low Energy Bills, The Solar System is OWNED!! Transfers With Sale, NO LEASE! Freshly Painted Interior 2024 & Updated Kitchen Plantation Shutters & Crown Molding Are Icing On The Cake! LOW LOW HOA Fees! Great Location, Great Home! Nestled on Interior Lot w/ the Ultimate AZ Orientation of South Facing Backyard! This 4 Bedroom/2.5 Bath Home. Splash Down in Your Swimming Pool, Outdoor Kitchen, Large Covered Patio & Updated Trane HVAC! Spacious Kitchen Opening to Great Room w/ Fireplace! Located Close to Award Winning Schools, Downtown Chandler Entertainment District, Price Corridor, Freeways, & Sky Harbor Airport!

View Property

7813 E Dallas Street Mesa, AZ 85207

$539,900

4 Beds

2 Baths

1,932 SqFt

Status Active

MLS # 6751946

Property Type Single Family Residence

Price Type --

Welcome to your next home. This home features separate living and family rooms, open kitchen with breakfast bar, newer appliances, gas range, slide out drawers and breakfast nook. Vaulted ceilings though out, large master suite w/walk-in closet and walk-in shower. 3 car garage with all new openers, cabinets and new water heater. Beautiful recently resurfaced pebble tech pool with all new equipment. RV gate, lots of parking space, excellently landscaped front yard, Great schools, parks, shopping, commuting and NO HOA! In walking distance of Red Mtn Generational Center and Red Mtn Park!

View Property

9053 E Hillview Circle Mesa, AZ 85207

$539,900

3 Beds

2 Baths

1,900 SqFt

Status Active

MLS # 6770705

Property Type Single Family Residence

Price Type --

Bright and spacious family home, neutral tones, tranquil interior design, located in the premiere community of Sierra Heights. Well maintained, pride of ownership, 3-bedroom 2 bath home, open concept architecture. Landscaped corner lot with desert flora. Updated kitchen cabinets, modern hardware, quartz countertops with farm sink, stainless appliances. Over size primary with ensuite dual sinks and walk in closet. Large bedroom 2 - renovated combining two smaller bedrooms. Great room flows into outdoor covered patio, with above ground hot tub / spa, artificial turf, low maintenance back yard. Newer AC and Water Heater. Natural light flows throughout the home, plantation shutters added. Seller relocating out of state for work early December 2024, motivated to sell home. The Sierra Heights community features green space, access to hiking trails,3 parks and mountain views. Located just 20 minutes from Sky Harbor Airport. Paddle boarding, boating and camping nearby at Canyon and Saguaro Lakes. Just 15 minutes from 4 world class golf courses, truly a limitless, outdoor experience and leisure area of Mesa in the East Phoenix Valley.

View Property

6472 S Wilson Drive Chandler, AZ 85249

$539,900

3 Beds

2 Baths

2,130 SqFt

Status Active

MLS # 6767037

Property Type Single Family Residence

Price Type --

Located at 6472 S Wilson Dr, this 2,132 sq ft home offers recent upgrades and a thoughtful layout. With 3 spacious bedrooms, a versatile den/flex space, and 2 bathrooms, this home provides plenty of room for comfort and convenience. The kitchen has been beautifully updated with new countertops and stainless steel appliances—perfect for daily use or hosting. The open floor plan allows for ample natural light, creating a welcoming atmosphere throughout. Outside, the private backyard offers a peaceful retreat, while the home is set close to schools, parks, shopping, and dining. Don't miss this opportunity to own a beautifully updated home in a desirable location.

View Property

1601 W Orchid Lane Chandler, AZ 85224

$539,900

3 Beds

2.5 Baths

1,786 SqFt

Status Active

MLS # 6764320

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the highly desirable neighborhood of Andersen Springs in Chandler. This beautifully updated 3 bedroom, 2.5 bathroom home boasts a prime location, just steps away from shopping, restaurants, and easy freeway access. Step inside and be greeted by a spacious and bright open floor plan, perfect for entertaining and family gatherings. The kitchen features modern SS appliances, newly painted cabinets & hardware, and abundant storage space. The cozy family room with a fireplace is the perfect place to relax and unwind after a long day. Upstairs, you will find three generously sized bedrooms, including a master suite with a private balcony overlooking the tranquil green belt and walking trail. But that's not all - this home has received numerous recent updates, including fresh exterior and interior paint, new flooring and carpet, a serviced A/C unit, and even a new roof underlayment. Every detail has been taken care of for you, including a thorough cleaning and fresh landscaping. Don't miss the opportunity to make this dream home yours. Schedule a showing today and experience the best of Chandler living in the beautiful Andersen Springs community.

View Property