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

3281 N Eagles Creek Drive Show Low, AZ 85901

$595,000

3 Beds

2 Baths

1,737 SqFt

Status Active

MLS # 6751334

Property Type Single Family Residence

Price Type --

Nestled in a tranquil neighborhood, this beautiful home offers a perfect blend of comfort, style, and convenience. As you step inside, you are greeted by a spacious and open floor plan that seamlessly combines modern design with a warm and welcoming ambiance. The well-appointed kitchen is a chef's dream, featuring sleek countertops, ample cabinet space, and state-of-the-art appliances. Whether you're hosting a family gathering or enjoying a quiet meal, this kitchen is sure to impress. The living area is thoughtfully designed with a focus on both relaxation and entertainment. The generous windows fill the space with natural light, creating an inviting atmosphere for both residents and guests. Spend cozy evenings by the fireplace, creating cherished memories or unwind on lazy afternoons while enjoying your favorite book. The bedrooms are generously sized, providing a peaceful sanctuary for rest and relaxation. The master suite is a true retreat, boasting a private ensuite bathroom and ample closet space. Wake up rejuvenated and ready to take on the day in this luxurious haven. Step outside to discover a covered deck, perfect for hosting outdoor gatherings or simply enjoying the fresh air. Whether you're entertaining guests or savoring a quiet moment, the spacious deck offers a delightful space for relaxation and enjoyment. Create lasting memories as you gather around the fire pit, roast marshmallows, and share stories under the starry night sky. Located in the desirable city of Show Low, this home provides convenient access to a wealth of amenities. Explore the nearby parks, indulge in local dining, or take advantage of the recreational opportunities available in the area. With its picturesque surroundings and welcoming community, Show Low offers a quality of life that is second to none. Don't miss out on the opportunity to make 3281 N Eagles Creek Drive your forever home. Embrace a lifestyle of comfort, elegance, and convenience in this remarkable property.

View Property

540 Atchison Lane Wickenburg, AZ 85390

$595,000

3 Beds

2 Baths

1,780 SqFt

Status Active

MLS # 6756245

Property Type Single Family Residence

Price Type --

NEW LOWER PRICE! What a gorgeous, beautifully remodeled home in desirable Mariposa Heights. Shasta lap pool, fantastic! The kitchen has a soft muted granite, soft close cabinets throughout, LG smokey gray appliances, The flooring is a dream in this home w/ wood look tile planks in all the right places & soft neutral carpet in bedrooms. Primary BD is spacious with slider to the covered patio, large walk-in closet, & fully upgraded bathroom. Guest BA custom vanity & re-glazed large garden tub/shower. Bright Great RM w/ fireplace, perfect for entertaining! Inside laundry rm with storage. Garage is extra deep for large vehicles too! Metal RV/5th wheel cover added. Shasta custom pool was completed in 2021 and you will love it! Fully fenced backyard & Solar too Current seller has added the metal covered RV/5th wheel cover. Garage has one extra deep bay to accommodate a long bed truck. Plenty of room for 2 cars + work area. Backyard also features faux boulders for landscape appeal outside the back west facing fence. Solar lease terms and condition along with SPDS are in the document section of the listing.

View Property

8314 W Berridge Lane Glendale, AZ 85305

$595,000

4 Beds

2 Baths

2,696 SqFt

Status Active Under Contract

MLS # 6752281

Property Type Single Family Residence

Price Type --

This home is spacious with 4 bedrooms, office and an extra flex space. The open concept is light and bright, and the home has recently had some nice cosmetic updates with new quartz countertops throughout, new light fixtures, new plumbing fixtures, freshy painted inside and out, new carpet in the bedrooms, new door hardware, new slider, and nice backyard. This open floor plan has a large, updated kitchen with all new stainless-steel appliances, island that seats 4, and opens to an inviting family room. The home has a split floorplan, and the primary bedroom is large with ample space and a walk in closet. Home is in a great location less than a mile from all the amenities at Westgate Mall. Seller willing to offer a rate buy down. The home has a split floorplan, and the primary bedroom has a beautiful new shower and walk in closet. Landscaping has been updated and there is a large, covered patio and 3 car garage with new openers. See documents tab for all upgrades.

View Property

1109 W Georgia Avenue Phoenix, AZ 85013

$595,000

3 Beds

2 Baths

1,532 SqFt

Status Active Under Contract

MLS # 6751808

Property Type Single Family Residence

Price Type --

REMODELED with Incredible Curb Appeal! NO HOA - RV Gate! No expense was spared on this uptown remodel opnly 3 years ago. Exterior features 3 yeras new on all..new stucco, new artifcial turf, new pavers, new roof, new ac unit, new windows, new garage door, new tankless water heater. As you enter, the living area has been opened up to the kitchen w/ white shaker cabinets, quartz countertops, Bedrosians backsplash, and high end stainless appliances. Off the kitchen is a nice sized laundry room and garage access. Out the back door is a huge covered patio that spans the width of the house. Down the hallway is guest bathroom with tiled shower and a dual vanity for both bedrooms to share. Master features an oversized shower with dual shower heads. Your AZ Uptown living is available to you N

View Property

3002 E Pinchot Avenue Phoenix, AZ 85016

$595,000

4 Beds

2 Baths

1,676 SqFt

Status Active

MLS # 6761490

Property Type Single Family Residence

Price Type --

CORNER LOT 4 BEDROOM POOL NO HOA NEW roof (2024), HVAC (2023), Bosch refrigerator (2024). This beautifully updated Phoenix single-story home sits in a prime location near Arcadia and Biltmore. The front yard features real grass and mature trees, while the spacious backyard includes a pool, covered patio, and artificial turf, all completed in 2018. Step inside to find a split floor plan with modern updates throughout. Enjoy the convenience of no HOA and an unbeatable location near some of Phoenix's best amenities and easy access to the airport.

View Property

14121 W St Moritz Lane Surprise, AZ 85379

$595,000

5 Beds

3.5 Baths

3,675 SqFt

Status Active

MLS # 6700187

Property Type Single Family Residence

Price Type --

MASSIVE $65K PRICE ADJUSTMENT!!! This gorgeous home was completely remodeled! 5-bedroom, 3.5-bath home boasts a 3-car garage, RV gate, and elegant stone accents.The living/dining room showcases high ceilings, recessed lighting, a soothing palette, and stylish wood-look flooring. The great room is a warm space for intimate moments with loved ones. Cook delicious meals in the kitchen, equipped with quartz counters, chic shaker cabinetry, trendy pendant lighting, a tile backsplash, SS appliances, a pantry, and an island with a breakfast bar. The den is perfect for an office. You'll also find a quaint loft that adds versatility. Huge primary bedroom with custom walk-in shower. See it today!

View Property

1651 E Tremaine Avenue Gilbert, AZ 85234

$595,000

4 Beds

3 Baths

2,085 SqFt

Status Active

MLS # 6764834

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning 4-bedroom, 3-bath two-story residence features soaring vaulted ceilings & a bright, open layout. 1 bedroom and bath downstairs. Owned solar system to minimize electric bills with no monthly lease payment. The modern updated kitchen boasts stainless steel appliances, granite countertops & gas stove. Retreat to the luxurious primary suite with a walk-in shower & elegant soaking tub surrounded by chic subway tile. Additional second floor bedrooms share a convenient Jack & Jill bathroom. Relax in your pool with privacy in this well laid out backyard. Located near great schools, shopping, & the freeway!

View Property

13113 W Citrus Way Litchfield Park, AZ 85340

$595,000

4 Beds

3 Baths

2,614 SqFt

Status Active

MLS # 6762010

Property Type Single Family Residence

Price Type --

Beautiful Corner house , 3 car garage , in a perfect location close to freeways and shopping centers. Come take a look at spectacular house with a great open floor plan. All appliances will convey ,except washer and dryer

View Property

2034 N Dayton Street Phoenix, AZ 85006

$595,000

2 Beds

2 Baths

1,150 SqFt

Status Active

MLS # 6756121

Property Type Single Family Residence

Price Type --

Masterfully restored and preserved craftsman in the centrally located Historic Coronado Neighborhood. Half the house is new construction 2009. Ample space to convert into a 3 bedroom with room to add a garage, guest house, and/or pool. Classic details include claw-foot bathtub, moulding, preserved original windows, fireplace. Oversized primary bedroom includes a sitting area, two spacious closets, en-suite bathroom, and large windows overlooking an ornamental orange tree and bougainvillea. Upgrades have been made to the house sewer line and electrical as well as tasteful updates including re-plastered walls, new water heater, paint, light fixtures, and hardware to name a few. Enjoy the outdoor patio, edible fruit trees and shrubs on the property. Blocks to all Downtown Phx has to offer.

View Property

17605 W Blue Sky Drive Surprise, AZ 85387

$594,995

4 Beds

3.5 Baths

2,840 SqFt

Status Active

MLS # 6772324

Property Type Single Family Residence

Price Type --

This stunning 2,840 sq. ft. Darius floorplan is a single-level home offers luxurious living with 10-ft ceilings, an open-concept floor plan, and a separate guest suite. The gourmet kitchen features quartz countertops, high-end finishes, and a spacious island—perfect for entertaining. With a 3-car garage, neutral color palette, and November completion.

View Property

20144 W San Juan Avenue Litchfield Park, AZ 85340

$594,990

4 Beds

3 Baths

2,693 SqFt

Status Active

MLS # 6786755

Property Type Single Family Residence

Price Type --

Topaz sitting on a large lot with an 8' gate. Multi slide door that leads out to the extended covered patio. Owner's bath has separate tub and shower & dual vanity sinks Stainless steel gas appliance package with a 36'' cooktop, wall oven, built in microwave, and T-shape hood. Sonoma Linen-off white cabinets with pull out trash drawer and 42'' kitchen uppers. AZT Tawny quartz countertops at kitchen and all baths. Kitchen backsplash 2x5 linear hex tile. Upgrade flooring includes Beaumont Olmo 7x22 plank tile in all areas of the home except for bedrooms and closets. Dual sinks at bath 2, soft water loop, gas stub for future BBQ, 8' tall garage door for those high profile vehicles and garage service door and so much more. Estimated to be complete in February. Please verify all information with onsite agent . Thank you!

View Property

4359 N 203rd Avenue Buckeye, AZ 85396

$594,990

3 Beds

2 Baths

1,674 SqFt

Status Active

MLS # 6736229

Property Type Single Family Residence

Price Type --

This Gorgeous Altena floorplan curated with Classic 'Looks' interiors selections offering a gorgeous cohesive design. Your spacious kitchen is designed with a large island, pendant lighting, quartz counters, stunning stacking cabinets and GE profile stainless steel appliances. Feel the openness of your great room and dining room with coffered ceiling and crown molding. Enjoy indoor-outdoor living with your 12 ft sliding glass door. The Primary Suite includes an Upgraded no step rain shower. Wood look tile throughout most rooms and plush carpet in bedrooms, plus window coverings included! ^^Short/long term interest rate buydowns available when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

View Property