What’s Ahead For Mortgage Rates This Week – May 23, 2016

Last week’s economic news included the NAHB Housing Market Index, reports on housing starts, building reports and existing home sales. Minutes of the Federal Reserve’s last FOMC meeting were also released.

Homebuilder Confidence Unchanged, Housing Starts and Building Permits Increase

The National Association of Home Builders (NAHB) reported that builder confidence held steady with a reading of 58 in May. Analysts projected a reading of 58 and April’s reading was also 58. Builder confidence in market conditions could be slowing due to concerns over acquiring skilled labor and a shortage of developed lots. Demand for homes remains high, but a slim inventory of available properties and builder emphasis on higher-priced homes contributed to sidelining moderate income and first-time buyers.

Commerce Department reports for April Housing Starts and Building Permits issued suggest that tight housing inventories may receive some relief. April housing starts rose from a revised March reading of 1.099 million to 1.170 million starts. Housing starts increased by 6.60 percent in April. Housing starts have slowed as compared to the year-over-year period from April 2015 to 2016; housing starts increased by 10 percent for the same year-over-year period in 2015. While any increase in home construction is welcome, some analysts said that they did not expect a huge increase in home construction in coming months.

Construction of multifamily housing units rose by 10.70 percent, while single-family home construction increased by 3.30 percent. Rising rents and millennials delaying home purchases were seen as fueling multifamily home construction. As homes become less affordable, would-be buyers are continuing to rent, which places higher demand on rental units.

Pre-owned Home Sales Rise in April

Sales of previously owned homes rose by 1.70 percent in April to a seasonally-adjusted annual rate of 5.45 million sales. Sales increased by 12.10 percent in the Midwest, where homes are most affordable, and fell by 1.70 percent in the West, where homes are most costly. This development suggests that rapidly rising home prices have or will soon reach maximum levels in high-cost areas. Home prices in many areas rose rapidly in preceding months as short inventory and high demand created bidding wars and keen competition for available homes. A lack of affordable single family homes has caused some buyers to buy condos while others have put buying on hold.

Mortgage Rates Rise, New Jobless Claims Fall

Mortgage rates rose for 30-year fixed rate mortgages rose by one basis point to 3.58 percent; the average rate for a 15-year fixed rate mortgage was unchanged at 2.82 percent and the average rate for a 5/1 adjustable rate mortgage rose by two basis points to 2.80 percent. Discount points were 0.60, 0.50 and 0.50 percent respectively. Analysts are watching the Fed closely for any indication that it will raise the target federal funds rate in June, although concerns over the possibility of Great Britain leaving the European Union could cause the Fed to hold off on raising the rate. If the Fed raises the target federal funds rate, loan rates for credit cards and mortgages would also increase.

New jobless claims fell last week to 278,000 new claims against expectations of 279,000 new claims and the prior week’s reading of 294,000 new claims. Analysts said that a telecommunications strike caused the prior week’s raise in claims as striking workers who are replaced during a strike are eligible for jobless benefits.

What’s Ahead

This week’s scheduled economic releases include new and pending home sales 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

8532 W Rancho Drive Glendale, AZ 85305

$624,950

5 Beds

3 Baths

2,871 SqFt

Status Active

MLS # 6734484

Property Type Single Family Residence

Price Type --

GORGEOUS 5BDRM/3BATH HOME IN MINT CONDITION W/UPGRADES GALORE!! SOARING CEILINGS & EXTENSIVE USE OF PLANK FLOORING GREET YOU AS YOU ENTER THIS OPEN & SPACIOUS FLOORPLAN! BEAUTIFUL GOURMET KITCHEN W/42' CABINETRY & QUARTZ CNTRTOPS W/LRG WATERFALL ISLAND/BRKFAST BAR - UPGRADED SS APPL, DBL OVEN, HOODED STOVE & PENDANT LIGHTING - LRG MSTR SUITE W/GLASS WALK-IN TILED SHOWER - FIBER OPTIC INTERNET - PAVERED DRIVE & WALK-WAY, COVERED PATIO + HOME CLOSE TO THE NEW MATTEL ADVENTURE PARK, CARDINALS STADIUM, SHOPPING, RESTAURANTS, ENTERTAINMENT & MORE!! A MUST SEE!!

View Property

16213 N 9th Place Phoenix, AZ 85022

Open House

$624,950

3 Beds

2 Baths

1,910 SqFt

Status Active

MLS # 6745175

Property Type Single Family Residence

Price Type --

BLACK FRIDAY BLOW OUT PROMOTION!! Submit the Black Friday Coupon in the documents tab with your offer to receive $7,500 off the listed price!! All written offers must be submitted with the coupon by 11:59 pm on Sunday, December 1st to receive this promotion. NO EXCEPTIONS! BUYER COULD NOT PERFORM-BACK ON MARKET!!! Brand new roof!! Welcome to this beautifully remodeled 3-bedroom, 2-bathroom ranch-style home at 16213 N 9th Place! Located in a peaceful cul-de-sac, this 1,910 sq. ft. home features an open concept living space with a split floor plan, luxury vinyl plank wood-look floors, a custom kitchen with a large island, coffee bar, and white cabinets that complement sleek silver appliances. The dual shower primary bathroom with elegant double sinks add a touch of luxury. Outside, enjoy the covered patio, oversized backyard, RV parking, and desert landscaping. The community offers a private park, playground, and green belt, and it's just minutes from Lookout Mountain with easy access to the I-17 and 51 freeways. This home has it all!

View Property

31006 W 213th Lane Wittmann, AZ 85361

$624,900

3 Beds

2.5 Baths

2,100 SqFt

Status Active

MLS # 6727483

Property Type Single Family Residence

Price Type --

60 DAYS & DONE - You don't want to miss this turnkey single-level home offering a 3-car Tandum and a Full RV Garage! Get an up-close look to discover a captivating open floor design filled with bountiful natural light, high ceilings, lovely flooring, soothing palette, recessed lighting, a cozy fireplace, and sliding glass doors to the patio. Prepare gourmet meals in the impeccable kitchen boasting shaker cabinetry with crown molding, beautiful counters, a convenient pantry, and a large island w/a breakfast bar. Owner's suite is a true retreat, providing a private bathroom and a sizable walk-in closet. The secondary bedroom enjoys a walk-in closet too. Sit back & relax under the covered patio while drinking your favorite drink! Contract now and put your personal touch on your new home

View Property

2055 W Edgemont Avenue Phoenix, AZ 85009

$624,900

3 Beds

2 Baths

2,061 SqFt

Status Active

MLS # 6764540

Property Type Single Family Residence

Price Type --

Exquisitely updated 3 bedroom 2 bathroom private gated backyard and garage access corner lot. beautiful timeless finishes and well maintained property., no maintenance backyard with artificial turn and putting green

View Property

9023 S Dean Road Buckeye, AZ 85326

$624,900

4 Beds

2 Baths

2,148 SqFt

Status Active

MLS # 6762884

Property Type Single Family Residence

Price Type --

This Stunning, Custom 4BD/2BA plus office/den Home features 2,148 sq ft of Gorgeous, living space situated on a Huge lot! Enjoy the breakfast bar, ample, custom cabinetry w/lots of counter space in this Amazing, chef's kitchen, w/custom stone backsplash & under-mount cabinet lighting. Luxurious LED fixtures enhance the home's ambiance, while the Luxury, Spa-like bathroom features custom tile, a rain shower head, & water jets! Eco-friendly w/paid-off solar panels! & a sediment filtration system! this home is stylish & sustainable. The wood-like, tile flooring throughout and with no HOA, you have freedom & flexibility. Spacious 3-car, side-entry garage & dedicated, fenced-in dog run, complete this perfect modern oasis in the desert! You have to see this one to believe it!

View Property

936 N Roadrunner Road Apache Junction, AZ 85119

$624,900

3 Beds

2 Baths

1,592 SqFt

Status Active Under Contract

MLS # 6778347

Property Type Single Family Residence

Price Type --

Discover this beautifully updated and meticulously maintained home on a spacious 1.25-acre lot, featuring breathtaking views of the Superstition Mountains! As you enter, you'll be welcomed by soaring wood-beamed ceilings, creating a grand sense of space. The bright Great Room, complete with a cozy wood-burning fireplace, seamlessly flows into an open-concept kitchen - perfect for gatherings and relaxation. The kitchen is a showstopper with stunning quartz countertops, designer cabinetry, and sleek stainless steel appliances. Unwind on the serene covered patio, designed for ultimate comfort and enjoyment. Additional upgrades include smart shades, a smart thermostat, a CCTV security system, and a separate mini-split heating and cooling unit for the back room. Ideal for RV enthusiasts, the property also features a large covered parking structure. This home is truly a rare find!

View Property

12810 S 209th Lane Buckeye, AZ 85326

$624,900

4 Beds

2 Baths

1,983 SqFt

Status Active Under Contract

MLS # 6778549

Property Type Single Family Residence

Price Type --

Very well kept 2017 home on 1 ac of ready to bring the horses & toys fenced property with no HOA! Interior updates include large rooms, tile flooring, kitchen bay window, granite counters & island, R/O & water softener, ceiling fans, newer blinds & carpet in bedrooms, surround sound wiring in LR & Patio. Exterior security doors, extended back covered patio & fenced newer play pool with travertine & water feature. Back grass area with timed sprinklers, large 3 car garage with cabinets & parking slabs. Even a horse arena & open-air shade structure with 5 covered horse pens & room for hay, 3 RV gates, trailer parking & 50 amp RV plug. Back area includes large top-rail pipe fencing. Riding trails are less than 1/2 mile away, don't miss this great home!

View Property

16814 S 37th Way Phoenix, AZ 85048

$624,900

3 Beds

2.5 Baths

2,458 SqFt

Status Active Under Contract

MLS # 6777415

Property Type Single Family Residence

Price Type --

Come check out this beautiful Spanish style home, with a southwestern flare lies in the desirable LAKEWOOD area of Ahwatukee. Near highly rated schools, as well as dining/shopping and freeway close makes this a winner before you even step inside! Once inside you'll notice so many great features like high and vaulted ceilings, a rare wood burning fireplace, fireplace in spacious primary bedroom, enclosed sun room addition (permitted), tons of storage and so much more. Fun fact...this was one of the original model homes, which is why it has such a large lot! Speaking of lot, the inviting backyard has a sparkling pool, mature trees, turf and the perfect environment for entertaining. Come tour this unique beauty today!

View Property

6750 W Via Montoya Drive Glendale, AZ 85310

$624,900

4 Beds

2.5 Baths

2,539 SqFt

Status Active

MLS # 6756139

Property Type Single Family Residence

Price Type --

Spacious 4-bedroom, 2.5-bath home with over 2,500 sqft of living space! This inviting property boasts a generous floor plan featuring tile and wood flooring in high-traffic areas. The chef's kitchen is a culinary enthusiast's dream, offering abundant cabinet space, a large island with pendant lighting, high ceilings, stainless steel appliances, and large pantry int laundry room. The primary bedroom provides ample room with an en suite featuring dual sinks, a separate stand-in shower, and a walk-in closet. Vaulted ceilings and a great room add to the home's open, airy feel. Step outside to a covered patio, ample backyard space with cozy seating areas, and an outdoor fireplace perfect for entertaining. Plus, enjoy the convenience of a 3-car garage. Don't miss out on this gem!

View Property

2099 S Mountain View Road Apache Junction, AZ 85119

$624,900

3 Beds

2 Baths

1,940 SqFt

Status Active

MLS # 6787145

Property Type Single Family Residence

Price Type --

Views Views Views! This home sits at the base of the Superstition Mountains and has unobstructed views. Amazing home on over an acre. Vaulted ceilings in the main living room. Chefs kitchen with a custom built hood over the range. Master bedroom has mountain views from the windows. Updated bathrooms with new cabinets, flooring and fixtures. Master bedroom has a private exit out to the backyard to the spa. The possibilities are endless with this vast open space, providing room for all your toys, boats, trucks, and RVs. Conveniently located a mile from the freeway! Come see this one of a kind property.

View Property

23625 N Bridle Way Florence, AZ 85132

$624,900

4 Beds

2.5 Baths

2,556 SqFt

Status Active

MLS # 6715194

Property Type Single Family Residence

Price Type --

Step into this breathtaking semi-custom home situated on a sprawling 1-acre lot with horse privileges and an impressive 30'W x 48'L shop, ideally located in a sought-after NO HOA community. Boasting 4 bedrooms and 2 ½ baths, this residence exudes elegance with its vaulted ceilings, inviting fireplace, and a generous open concept living/dining area adorned with plantation shutters. The expansive gourmet kitchen is a culinary masterpiece, featuring white cabinets, stunning black blizzard granite countertops, a pantry, and a spectator bar with seating. Sleek black fingerprint-resistant stainless steel appliances and ambient under-cabinet and over-cabinet lighting complete the kitchen's allure. Two luxurious primary bedroom suites offer comfort and space, while one suite features features an oversized ceiling fan for added relaxation. A dedicated laundry room includes a front-load washer and dryer for convenience. Outdoors, indulge in the 12' x 67' covered patio and an extended 3-car garage with on-slab parking for 6+ vehicles. Enjoy year-round comfort with sunscreens, security doors, and ceiling fans throughout. For seamless outdoor entertaining, discover a detached 28' x 20' covered patio equipped with a built-in BBQ grill, sink, and refrigerator. Access to the property is secured by two sets of double gates and a walk gate from the street, with an additional walk gate along the back fence leading to a natural wash bordered by lush foliage, ensuring unparalleled privacy. This remarkable property epitomizes space, privacy, and convenience in a desirable community without HOA restrictions. Don't miss this extraordinary opportunity!

View Property

1728 N 156th Drive Goodyear, AZ 85395

$624,900

4 Beds

2.5 Baths

2,916 SqFt

Status Active

MLS # 6729548

Property Type Single Family Residence

Price Type --

Discover Your Dream Home in Palm Valley! Professional home inspection already completed!!!! Welcome to your new haven! This stunning, highly upgraded home in Palm Valley is a true gem, offering over $160k in luxurious enhancements. Perfectly situated close to all the vibrant attractions the Goodyear area has to offer, this home is designed for those who seek both comfort and sophistication. Key Features: Spacious Living: With 4 bedrooms and an additional 12x18' (approximate) flex room, this home offers ample living space. The large flex room with custom barn doors is perfect for an office, media room, or playroom. Elegant Interiors: Enjoy the beauty of 12x24'' plank tile flooring and 10' ceilings throughout the home. MORE ... Gourmet Kitchen: The heart of the home features oversized granite countertops, double ovens, a gas cooktop, abundant cabinet space, a walk-in pantry, and stainless steel appliances (including a new dishwasher, disposal, and microwave). The large dining nook with padded bench seating for 12 is perfect for entertaining or large gatherings. Luxurious Master Suite: The master retreat boasts bay windows, a master bath with a tiled shower, a double full-mirrored door to the closet, an oversized tub, granite counters with double sinks, and a custom-designed walk-in closet. Thoughtful Layout: A split floor plan ensures privacy with 2 additional bedrooms featuring walk-in closets and a connected Jack & Jill full bath. Functional Spaces: The laundry room offers ample counter space and cabinetry. Two solar skylight tubes brighten the front entry and living space. A metal security front door adds an extra layer of safety. Garage & Driveway: The garage includes a 2-foot extension, epoxy flooring, ceiling storage racks, an extended paver driveway, and custom cabinetry. Desert oasis on an Expansive Lot: Nestled on a large 10,000+ square foot fully landscaped corner lot in a cul-de-sac, across from a large park. Backyard Paradise: Ideal for entertaining, the backyard features an above-ground hot tub, a spacious covered patio, travertine decking, paver sidewalks, a raised garden area, gas stub, solar and custom lighting, an oversized gate, and a two steel cactus including a saguaro cactus that light up at night. This home is meticulously designed to pamper its new owners both inside and out. Some furnishings may be available for purchase outside of closing. Don't miss the chance to make this exquisite property your own. Step into your dream home today!

View Property