What’s Ahead For Mortgage Rates This Week – December 19, 2016

Housing news was boosted by the National Association of Home Builders Housing Market Index, which posted its highest readings since July of 2002. In other news, the Federal Reserve’s Federal Open Market Committee voted to raise the federal funds rate and Fed Chair Janet Yellen gave a press conference. Mortgage rates rose and weekly jobless claims fell.

Home Builder Confidence Highest in 14 Years, Home Construction Lags

According to the National Association of Home Builders, builder confidence in housing market conditions reached its highest rate since 2002 in December. The NAHB Housing Market Index reading topped out at 70 as compared to November’s reading of 63. Analysts said that December’s high reading resulted from a post-election bump in builder confidence. While high builder confidence could bode well for supplies of new homes, construction rates continued to lag strong economic indicators such as low unemployment and high demand for homes. While builders gained confidence in current and projected housing market conditions, they continued to face shortages of labor and buildable lots.

Fed Raises Rate

The Federal Open Market Committee of the Federal Reserve announced it would raise the federal funds range by 0.25 percent to 0.50 to 0.75 percent. FOMC said strengthening job markets, lower unemployment and rising household spending supported the decision to raise the federal funds rate. Inflation, while below the Fed’s target of 2.00 percent, is gradually moving toward the Fed’s medium term goal. FOMC’s statement indicated that the Fed’s monetary policy would remain accommodative.

Fed Chair Janet Yellen held a press conference and cited “considerable progress” toward the Fed’s dual mandate of maximum employment and price stability as factors supporting the decision to raise the target federal funds range. Labor markets continue to improve; Chair Yellen said that the economy has added 180,000 jobs per month over the last three months. 15 million jobs have been added in the past seven years. Inflation is growing gradually, and the Fed expects to achieve its target inflation rate of 2.00 percent over the next two years.

Month-to-month consumer spending readings held steady at 0.20 percent growth. Core consumer price index data, which excludes volatile food and energy sectors, rose from 0.10 percent to 0.20 percent in November.

Mortgage Rates, Weekly Jobless Claims

Mortgage rates were higher last week, but Freddie Mac said that its survey data was collected before FOMC raised the federal funds rate. Analysts at Freddie Mac suggested a wait-and see position on rate forecasts due to the changing political climate. The average rate for a 30-year fixed rate mortgage was three basis points higher at 4.16 percent; the average rate for a 15-year fixed rate mortgage rose one basis point to 2.37 percent and the average rate for a 5/1 adjustable rate mortgage was two basis points higher at 3.19 percent. Average discount points for fixed rate mortgages held steady at 0.50 percent and dipped to 0.40 percent for a 5/1 adjustable rate mortgage.

New jobless claims were lower last week at 254,000 claims filed. Analysts had expected a reading of 250,000 new claims based on the prior week’s reading of 258,000 new claims filed. Volatility in weekly readings for new jobless claims can be expected due to seasonal hiring and layoffs.

What‘s Ahead

Next week’s economic releases include readings on new and previously-owned home sales, inflation and consumer sentiment. Readings for mortgage rates and new jobless claims will also be released.

Click Here to See What Your Home is Worth

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

19797 S 231st Way Queen Creek, AZ 85142

$651,441

3 Beds

2.5 Baths

2,195 SqFt

Status Active

MLS # 6583797

Property Type Single Family Residence

Price Type --

GORGEOUS GREAT ROOM PLAN, GOURMET KITCHEN LAYOUT, SPA SHOWER IN THE PRIMARY, WHITE CABINETS WITH CONTRASTING BLACK HARDWARE, PLANK TILE FLOORS EVERYWHERE, EXCEPT THE BEDROOMS,UPGRADED GRANITE TOPS AND TILE BACKSPLASH., FANS BLINDS INCLUDED,PAVER DRIVE AND WALKWAY AND MORE.. TASTEFUL TOUCHES THROUGHUT THIS HOME!! ALL THIS IN BEAUTIFUL BARNEY FARMS, WHICH OFFERS A 22 ACRE LAKE THAT IS THE CENTERPEICE OF THIS COMMUNITY SURROUNDED BY GREEN PARKS, WALKING TRAILS AROUND THE LAKE WITH BENCHES AND RAMADAS TO ENJOY THE VIEW. PICKLE BALL, BOCCE BALL, LARGE BARN CLUBHOUSE WITH OUTDOOR SEATING OVERLOOKING THE LAKE. 16 SEER RATING ENERGY STAR HOME! ''KMB K-6 School. THIS HOME AND COMMUNITY IS WORTH A VISIT!!

View Property

17147 W Hackmore Drive Surprise, AZ 85387

$651,223

4 Beds

3 Baths

2,665 SqFt

Status Active

MLS # 6771831

Property Type Single Family Residence

Price Type --

MLS#6771831 January Completion! Welcome to the Everglade at Asanta Passage. Step through the porch into the welcoming foyer. On one side, you'll find three bedrooms and a shared bathroom, while across the foyer lies a laundry room, an additional bedroom with its own bathroom, and access to the two-car garage. Continue through the home to discover stunning open-concept living, where the great room effortlessly flows into the casual dining area, kitchen with an island, and covered outdoor living—ideal for entertaining. The tucked-away primary suite offers a peaceful retreat, featuring a spa-inspired bathroom and a spacious walk-in closet. Structural options include: super shower, gourmet kitchen, paver front porch, 12'x8' sliding glass door, garage service door & study in lieu of bed 2.

View Property

5745 S 129th Avenue Tolleson, AZ 85353

$650,000

3 Beds

2 Baths

1,563 SqFt

Status Active

MLS # 6624504

Property Type Single Family Residence

Price Type --

Beautiful horse property with 6 horse stalls available, 3/4 of an acre of land, square shaped lot, and irrigation rights. The home also features tile throughout the home (no carpet) and granite countertops in the kitchen and bathrooms! A new AC was installed in 2022 and a new roof was installed in 2021. The property also features multiple entrances for vehicles, a storage shed, and mature trees. The home has been recently painted, interior and exterior. The kitchen also has a gas hook up for a gas range. Come check out this amazing opportunity and see all the potential this property has!

View Property

14125 W Vía Tercero -- Sun City West, AZ 85375

$650,000

2 Beds

2 Baths

2,179 SqFt

Status Active Under Contract

MLS # 6699712

Property Type Single Family Residence

Price Type --

Welcome to this remodeled Sedona on the 3 hole of Deer Valley Golf Course in the Del Webb community of Sun City West. The evening and morning views are stunning. 2179 sq ft. Home is offering someone a very tastefully remodel with all the latest and greatest touches. Tile floors 50 by 24 inches large 5 inch baseboards, Freshly Painted - New Kitchen Aid Appliances. Shutters through out. Updated Patios both front and Back. Updated bathrooms with counter tops and new high toilets. Home has been painted through out inside. All new drapes all new carpets. New screen doors on front and back patios. This home offers the purchaser a chance to arrive with their belongings and enjoy the Views and the great remodel with just personalizing it for themselves.

View Property

3795 E Latham Court Gilbert, AZ 85297

$650,000

4 Beds

3 Baths

2,934 SqFt

Status Active

MLS # 6783589

Property Type Single Family Residence

Price Type --

This Gilbert 4 / 5 bedroom and 3 bathroom home with a loft, 3 car garage, and RV gate, is truly unique to Coronado Ranch. With custom rounded doors and attention added to the architecture, you will not want to miss making this your home. There is one bedroom and full bath downstairs as well as a front room and dining room. Upstairs you will find a large loft and 3 bedrooms, with a den built off the oversized master bedroom. The den can be enclosed to make this home a 5 bedroom home plus a loft and the added space downstairs. With an open kitchen and oversized wide lot that backs to a green belt, you have plenty of physical and visual space. Great community and location in Gilbert with fantastic amenities including a splash pad, parks, and more! amenities!

View Property

36655 N 25th Street Cave Creek, AZ 85331

$650,000

4 Beds

3 Baths

2,350 SqFt

Status Active

MLS # 6702523

Property Type Single Family Residence

Price Type --

Spacious Home/ Great views on private Street on 1.6 acres, 4 beds/3baths, huge room, stunning rock fireplace in wood, big room with sitting rooms views in all directions.

View Property

21425 N 142nd Drive Sun City West, AZ 85375

$650,000

2 Beds

2.5 Baths

2,580 SqFt

Status Active

MLS # 6702403

Property Type Single Family Residence

Price Type --

Fabulous Montecito model with 2 bedrooms, 2.5 bath & den w double doors, situated on a prime location on the 3rd hole of the Trail Ridge Golf Course, showcasing 2 separate lakes, mountain & fountain views! Enter through a private, front courtyard that opens to a spacious great room w plantation shutters, overlooking gorgeous greens & several patio areas. Open kitchen with Corian countertops, plenty of cabinets, Bosch cooktop, GE Profile appliances & separate built-in ice maker. Primary bedroom bay window, large walk-in closet, double vanity & separate shower & tub. Inside laundry w sink & updated GE washer & dryer. Half-bath for convenience. Large 2 car garage w extra golf cart garage, newer garage door opener. Water heater 2019, Two Trane units 2010. Roof underlayment #30 LB in 2010.

View Property

3510 S Verbena Road Casa Grande, AZ 85193

$650,000

2 Beds

2 Baths

1,240 SqFt

Status Active

MLS # 6711471

Property Type Single Family Residence

Price Type --

Unique opportunity! Check out this one-of-a-kind property less than a quarter mile from the Lucid Motors complex. 9.85 acres with a 2 bedroom 2 bath home, detached three car garage, two registered wells, a mobile home pad and a barn. Lots of possibilities for this property, what could you do with it?

View Property

14829 W Pershing Street Surprise, AZ 85379

$650,000

5 Beds

4.5 Baths

3,505 SqFt

Status Active

MLS # 6772071

Property Type Single Family Residence

Price Type --

This Gorgeous Home has a Casita with it's own exterior access and a Full Bathroom. The main House has a Huge Master Bedroom upstairs along with 3 additional Bedrooms. The formal living room/den/playroom is right off the entry, there's a formal dining room, Huge Kitchen with an attached Family Room! The Fabulous Kitchen has upgraded cabinets, a HUGE Island, Gas 5 burner cooktop and separate oven, microwave. There's a large walk-in pantry and a butler's pantry with sink and space for a wine/beverage refrigerator. The 3 car tandem garage has plenty of cabinets for storage and it's own A/C system, just in case you want to use the 3rd car portion as a workout area. Backyard has a covered patio, paver firepit area and a pergola paver patio. There is a solar system to.. help with the electric bill. These homes are so well insulated - I have the same floor plan and with smart thermostats and energy management (we keep the house at 70 degrees except for 4pm-7pm) our August bill was $380 and we don't have solar. HOA amenities include 3 pools, a splash pad, recreation center, firepit and 2 fireplaces, 20+ parks (each with it's own theme) and beautiful tree lined streets. Veranda Park with a half Basketball Court and Playground is just 1 block South!

View Property

1208 W Random Way Payson, AZ 85541

$650,000

2 Beds

2 Baths

2,282 SqFt

Status Active

MLS # 6724003

Property Type Single Family Residence

Price Type --

For a quiet retreat with space to spread out on close to an acre. Need a place to park your RV? This home has plenty of room with the 2 car garage attached to the house and an additional 2 car garage/shop in the out building. Add to that a set up for covered RV parking. We have you covered...Don't forget the park and golfing down the street. Newly painted throughout with new flooring in kitchen, great room and hallway and new carpeting in bedrooms. New chain link fence as well. Green Valley Park and Payson Golf down the street. Take a peek in the utility room and see another storage area.....

View Property

21545 S Camas Way Florence, AZ 85132

$650,000

2 Beds

2 Baths

1,971 SqFt

Status Active

MLS # 6737943

Property Type Single Family Residence

Price Type --

Magical Property! This beautiful rustic home is built with burnt adobe and is set on 10 acres adorned with majestic saguaros. There are views for miles, a wrap-around porch that you can sit and observe the local wildlife, and marvel at breathtaking views and spectacular sunsets. This home has stunning floors, gorgeous architecture features such as arched windows and doorways. The cozy the living room has a wood plank ceiling, exposed wood beams, a wood burning fireplace as well as a wood burning stove. The bathrooms even have lots of details you don't want to miss right down to the bronze faucets and designer towel bars. Come and explore the beauty of your next home.

View Property

2600 E Summer Loop Forest Lakes, AZ 85931

$650,000

2 Beds

1.5 Baths

1,725 SqFt

Status Active

MLS # 6778410

Property Type Single Family Residence

Price Type --

Nestled atop the majestic Mogollon Rim, this exquisite A-frame cabin in Forest Lakes Estates beckons those seeking an escape from the quotidian.This gem will be coming soon to the market and is a mere two-hour scenic drive from Phoenix, offers a tranquil retreat where temperatures graciously dip 30-50 degrees below the valley's swelter. The property's 1,726 square feet of tastefully updated living space unfolds like a carefully curated narrative. Expansive picture windows frame nature's ever-changing landscape, while the eat-in kitchen features stylish upgraded granite counters and endless pantry/storage options. The main floor houses two spacious bedrooms and a bathroom, while the upper level reveals a sleeping loft complete with a playful nook and generous storage. Outside, the grounds are a testament to thoughtful landscaping. Verdant grass intermingles with ferns, while carefully cultivated bulbs and lilacs perfume the air. Majestic lilies stand sentinel along the home's façade, their regal presence complemented by nature's own sculpture garden of boulders. Entertainment options abound with dual fire pits, a pergola, and a whimsical tree fort. The extra depth two-car garage conceals a surprise - a game room/bunkhouse, perfect for hosting soirées or accommodating overflow guests. The garage also has laundry area and could also be converted a tandem 4 car garage. Storage Shed conveys too for additional storage. Seller has done updates from, flooring to lighting and done all the important updates: electrical, plumbing (PEX), and added forced air heating system. Forest Lakes, an idyllic community free from HOA constraints, boasts several trout-stocked lakes and a vibrant, welcoming atmosphere. The voluntary FLOA fosters a sense of camaraderie through community events and a shared gathering space. This exceptional property, priced at market value, promises not just a home, but a legacy of cherished memories amidst the towering Ponderosa pines. Seize this opportunity to elevate your lifestyle and immerse yourself in the lap of nature's luxury.

View Property