What’s Ahead For Mortgage Rates This Week – December 5, 2016

Last week’s economic news was plentiful with releases on Case-Shiller Home Price Indices and pending home sales. Readings on government and private sector jobs created, the national unemployment rate and weekly readings on new jobless claims and Freddie Mac’s mortgage rates survey were also released.

Case–Shiller: Western Cities Dominate Home Price Growth

Case-Shiller’s 20-City Home Price Index reported that Seattle Washington topped year-over-year home price growth with an increase of 11.00 percent. Portland, Oregon followed closely with a reading of 10.90 percent, and Denver Colorado held third place with year-over-year home price gains of 8.70 percent.

San Francisco, California, which had posted high home price gains in recent years, posted a month-to-month reading of -0.40 percent and a year-over-year gain of 5.70 percent. Analysts said that this reading was evidence that home prices in high cost areas were topping out. Affordability, strict mortgage requirements and low inventories of available homes continued to present obstacles to home buyers.

Mortgage Rates Rise, Pending Home Sales Dip

According to the U.S. Commerce Department, pending home sales dipped in October to 0.10 percent as compared to a growth rate of 1.50 percent in September. Winter weather and holidays can cause would-be home buyers to postpone their home searches until spring.

Freddie Mac reported higher mortgage rates last week, although the 10-year treasury rate, which is tied to mortgage rates, was unchanged from the prior week. The average rate for a 30-year fixed rate mortgage was five basis points higher at 4.08 percent; the average rate for a 15-year fixed rate mortgage rose by nine basis points to 3.34 percent and the average rate for a 5/1 adjustable rate mortgage rose by three basis points to 3.15 percent. Mortgage rates have risen by 51 basis points in three weeks. This trend, coupled with high home prices, doesn’t bode well for first-time and modest income home buyers.

Consumer spending for October increased by 0.30 percent as compared to predictions for a reading of 0.50 percent and September’s 0.70 percent reading. The core inflation reading for October was unchanged and in line with analyst expectations at 0.10 percent. The core reading excludes volatile food and fuel sectors.

Labor Reports: Job Creation Grows, Unemployment Rate Lower

According to the Labor Department’s Non-Farm Payrolls report for November, 178,000 government and private sector jobs were created as compared to expectations of 200,000 jobs created and October’s reading of 142,000 jobs created in October. According to the Commerce Department, the national unemployment rate for November was 4.60 percent as compared to the expected reading of 4.90 percent and October’s reading of 4.90 percent. Analysts noted that while a lower reading could indicate good news, it was also the result of fewer workers in the work force. The unemployment rate is based on unemployment claims filed by those actively seeking work; it does not include those underemployed or those who have stopped seeking work.

First-time jobless claims rose to 268,000 as compared to expectations of 250,000 new claims and the prior week’s reading of 251,000 new claims filed.

In spite of higher mortgage rates and dubious labor reports, the Consumer Confidence Index rose to 107.1 in November from October’s reading of 100.8; Analysts had expected an index reading of 102.5.

What‘s Ahead

Next week’s economic reports include releases on job openings and consumer sentiment along with weekly readings on mortgage rates and new jobless claims.

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

40105 N 2nd Way Phoenix, AZ 85086

$1,579,000

5 Beds

4.5 Baths

5,082 SqFt

Status Active

MLS # 6738408

Property Type Single Family Residence

Price Type --

Discover unparalleled luxury & adventure with this Desert Hills estate, offering unrivaled mountain & desert views & direct access to hiking & riding trails. This expansive 5,082 sq ft residence, on a 1-acre lot, features 5 spacious bdrms & 4.5 baths, including well-appointed jack & jill suite. On a private NS facing lot backing onto pristine State Trust Land. The property is an entertainer's dream, with a massive 6-car garage, room for toys & an attached 900 sq ft ADU/multi gen apartment complete with its own kitchen, living, & ensuite. Indulge in outdoor living with a sparkling negative edge pool & captivating waterfall, beautifully designed BBQ area & outdoor fireplace, & 3 covered patios. Full RV hookups & RV gates, three 50-amp service, & a huge upstairs living space with wet bar. Extensive updates with quart countertops in kitchen, stainless GE Profile appliances & new bathrooms, fresh interior & exterior paint, new carpet, & modernized lighting throughout. Bring your animals and toys for this exquisite desert oasis. The location is convenient and the views are amazing.

View Property

21715 N 61st Way Phoenix, AZ 85054

$1,575,000

3 Beds

3 Baths

2,770 SqFt

Status Active

MLS # 6786281

Property Type Single Family Residence

Price Type --

Welcome to the community of Talinn brought to you by Shea Homes. This single level gated home has been gently lived in. It has all the upgrades you could want and still is under the builders 1 year warranty. Terrific gorgeous great room layout has natural wood looking tiled floors throughout. The chef in the family will love the oversized gas cook top, numerous cabinets and expansive island cooking area with quartz counter tops and beautiful waterfall sides. The Master Br is split and there are 2 bedrooms in front, a movie/game room + a flex room. Check out the upgraded bathrooms complete with curb less entry showers. Electric shades in the living area. Custom front door and the center opens up to allow the cool breezes to pass through. . Spectacular gas fireplace in the living area The back yard has endless private views and you will never need to go on vacation again. Enjoy your heated pool & spa. Lots of artificial grass and a custom pergola which adds lots of shade. Built in BBQ and the outdoor TV is installed and ready to watch your favorite events while sipping your favorite drink.

View Property

21062 N 76th Avenue Glendale, AZ 85308

$1,575,000

4 Beds

4.5 Baths

4,042 SqFt

Status Active

MLS # 6734454

Property Type Single Family Residence

Price Type --

SINGLE STORY WATERFRONT luxury property in the beautiful EAGLE HEIGHTS subdivision is now for sale! This stunning, move-in ready property features all the upgrades and amenities you could desire, including private entry courtyard with stone fireplace, 3-car garage, dream kitchen with upgraded cabinets with crown molding, granite countertops, large island with center sink and breakfast bar, stainless steel appliances. All bedrooms very large & each has their own WALK -IN-CLOSET and OWN FULL BATHROOM, spacious master bedroom and master bath with granite counters and his and hers sinks. The great room also includes a triple sliding glass door which allows for indoor/outdoor living and dining. Ideally located, this home is situated in a very desirable area, with quick access to the 101freeway Bulldog(metal) security screens through out the house. Surround sound through the house .A lot of upgrade through the house, such a Venire stone all around house .Extra insulation inside the walls through out the house. Solid wood planks all interior doors. Extra window sills on all windows. This property having two APN's ;APN 200-19-350 also included as part of this sale.

View Property

604 N Grapevine Drive Payson, AZ 85541

$1,575,000

3 Beds

3 Baths

3,844 SqFt

Status Active

MLS # 6781693

Property Type Single Family Residence

Price Type --

Perched on a hillside, nestled in a private cul-de-sac, and within the gates of Chaparral Pines private golf country club, this home boasts spectacular mountain views. The large upper and lower-covered decks provide a perfect backdrop for both relaxation and entertaining. The inviting family room features oak flooring and a cozy pellet stove, adding warmth and charm to this beautiful living space. Conveniently located on the main floor, the primary bedroom has two walk-in closets and a large bathroom with a walk-in shower with tile and stone surrounds, a separate tub, and dual vanities. The walk-out basement includes two additional bedrooms, and a room currently used as an office (not included in the livable square footage), offering versatile space for guests or work. The kitchen is equipped with a gas cooktop, a built-in Subzero refrigerator, and stainless-steel appliances. Recently installed granite countertops add elegance and durability, making this kitchen as functional as it is beautiful. The owners have made a few nice upgrades by adding a golf cart garage that adds extra storage and convenience for golf enthusiasts. Also, the bathrooms have been updated with new granite countertops, adding a modern touch to the home's timeless design. Additional features include Knotty alder interior doors and wood-framed windows throughout that provide a rustic, upscale feel to the home.

View Property

27101 N Palo Fiero Road Rio Verde, AZ 85263

$1,575,000

3 Beds

3 Baths

3,949 SqFt

Status Active Under Contract

MLS # 6757927

Property Type Single Family Residence

Price Type --

Welcome to your dream home, nestled in the highly sought-after Tonto Verde community. GOLF COURSE MEMBERSHIP available for purchase. This bright and energetic 3,949 sq. ft. residence offers breathtaking views of the fairway and Four Peaks from its expansive large windows, allowing natural light to fill every corner. The oversized primary suite offers comfort & space to unwind, while the other two spacious bedrooms provide ample room for family or guests. With 3 full bathrooms, this home is perfect for both everyday living and entertaining. The heart of the home is the open kitchen, featuring a large island ideal for meal prep or gathering with friends. The kitchen flows seamlessly into the living areas, where you'll find a wet bar—perfect for hosting and making memories. Situated on a large lot, the backyard is a true resort style living space, featuring a beautiful pool overlooking the stunning landscape, providing a tranquil escape after a day on the course. Don't miss out on this incredible opportunity to live in a community that combines luxury living with an active lifestyle!

View Property

7151 E Rancho Vista Drive Unit 2006 Scottsdale, AZ 85251

$1,575,000

3 Beds

2 Baths

2,222 SqFt

Status Active

MLS # 6656387

Property Type Apartment

Price Type --

Step into this newly remodeled luxury 3 bedroom, 2 bathroom condo, spanning an impressive 2,222 square feet. Meticulously redesigned and upgraded, this condo offers a blend of sophistication, comfort, and contemporary style. As you enter, you are greeted by a spacious open-concept living area, featuring high ceilings and an abundance of natural light. The living room provides a welcoming space to relax and entertain, with ample room for plush seating arrangements and stylish decor. The kitchen is a chef's dream, meticulously designed with top-of-the-line appliances, sleek cabinetry, and luxurious finishes. It offers a perfect balance of functionality and elegance, making it a delightful space for culinary creations. The adjacent dining area provides a seamless transition for enjoying meals with family and friends. The condo boasts three well-appointed bedrooms, each offering ample space and comfort. The master bedroom is a tranquil retreat, featuring a walk-in closet and a luxurious ensuite bathroom. The additional bedrooms are generously sized and can be utilized as guest rooms, home offices, or a combination of both. The bathrooms have been remodeled to reflect a spa-like ambiance, with modern fixtures, elegant vanities, and beautiful tilework. With 2,222 square feet of living space, this condo also one of the largest patios in the entire community. Amenities include concierge, indoor & outdoor heated pool and spa with women and men's locker room, fitness center, racquetball & basketball court. Walking distance from Scottsdale Fashion Square Mall, Old Town, restaurants, & so much more

View Property

21151 E Mewes Road Queen Creek, AZ 85142

$1,575,000

5 Beds

5 Baths

4,559 SqFt

Status Active

MLS # 6755707

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning property features a main residence (3,525) with 4 bedrooms, 4 bathrooms, great room, a versatile bonus room, a cozy den/office, and a 4-car garage. Enjoy the outdoor oasis with a sparkling pool, garden areas, and views of the San Tan Mountains. Guests will love the 1,034 sqft casita, complete with a modern kitchen, great room, and bedroom w/ walk-in closet w/ stackable washer and dryer and 2 bathrooms. This private retreat is perfect for hosting visitors with their own space. Bring your horses to this charming neighborhood with ample space to add a sports court or other additions. It's the perfect blend of country charm and modern convenience. Close to Queen Creek shopping/dining. Freshly painted, come see!

View Property

3011 Avienda Del Sol -- Lake Havasu City, AZ 86406

$1,575,000

4 Beds

3 Baths

2,418 SqFt

Status Active

MLS # 6747825

Property Type Single Family Residence

Price Type --

Experience luxury living in Lake Havasu City with this exquisite home offering stunning lake and mountain views. The residence boasts vaulted ceilings, enhancing its open and airy ambiance. Enjoy a tranquil backyard oasis featuring a sparkling pool and fire pit—perfect for relaxation and entertaining. A charming casita with a kitchenette adds convenience and flexibility for guests. The property also includes a 65-foot deep RV garage with a 14-foot door, ideal for storing large vehicles. Embrace the ultimate in lakeside living with this exceptional home.

View Property

7638 E Shooting Star Way Scottsdale, AZ 85266

$1,575,000

4 Beds

2.5 Baths

3,284 SqFt

Status Active

MLS # 6771131

Property Type Single Family Residence

Price Type --

Experience luxurious living in this stunningly remodeled home located in the guard-gated Winfield community, nestled between Whisper Rock and The Boulders. This elegant residence features an open-concept design with designer finishes, soaring ceilings, and large windows that fill the space with natural light. The gourmet kitchen, equipped with a spacious island and prep kitchen, is ideal for entertaining. The primary suite serves as a tranquil retreat, complete with a spa-like bath and generous walk-in closet. This home exemplifies sophisticated design. Enjoy easy access to golf, dining, and shopping in one of North Scottsdale's premier communities. Welcome to your serene sanctuary!

View Property

17738 E Ord Court Rio Verde, AZ 85263

Open House

$1,575,000

3 Beds

3.5 Baths

2,681 SqFt

Status Active

MLS # 6785621

Property Type Single Family Residence

Price Type --

Rarely does an opportunity come available such as this: Highly upgraded Latigo plan with a Guest Casita and a JAW DROPPING UNOBSTRUCTED VIEWS OF TONTO NATIONAL FOREST! Spectacular beyond all expectations this stunning home is perfectly located in the prestigious Trilogy at Verde River on one of the most coveted homesites in the community backing directly to Tonto National Forest with MAJESTIC VIEWS that WILL TAKE YOUR BREATH AWAY! As you step through the front courtyard, you are greeted by a beautiful fireplace and a stunning water feature, setting the tone for the elegance that awaits. Beautifully designed with luxurious upgrades: chic hardwood-style tile floors throughout, upgraded kitchen cabinets; GE Monogram appliances, GE beverage cooler, custom granite counter tops, decorative tile backsplash, freshly painted interior and exterior and a lot more... Professional photos are coming soon!

View Property

22421 N 34th Street Phoenix, AZ 85050

Open House

$1,575,000

3 Beds

3.5 Baths

2,978 SqFt

Status Active

MLS # 6749997

Property Type Single Family Residence

Price Type --

Welcome to this stunning 3 bedroom, 3.5 bathroom home located in the prestigious Sky Crossing subdivision. Built in 2020, step into this exquisite Plute home, where natural light floods the open floor plan. Whether you're whipping up a gourmet meal or simply enjoying your morning coffee, this kitchen is sure to impress even the most discerning buyer with its dual ovens, stainless steel appliance, oversized kitchen island and pantry. The primary suite is spacious with an attached en-suite that includes tiled, walk-in shower, dual vanities, and large walk-in closet. Your family and company will also enjoy their own spaces in the oversized bedrooms. This smart house features a state-of-the-art system with keyless entry and an app-controlled garage, a hardwired Sonos Sound System, as well as a Vivant security system that is added for peace of mind. The radiant barrier will also help with those electric bills and keep you cooler in the summer and warmer in the winter! Step outside through your wall of slider doors into the luxurious backyard that is an entertainer's dream! The pool and spa contain so many upgrades which include marble pavers and decking, glass waterline tile, and a pebble brilliance interior, and these are just a few of the oasis-like setting upgrades! Enjoy all the Sky Crossing amenities has to offer along with its location, which is just a short distance away from schools, parks and shopping!

View Property

10609 N Mountain Vista Court Fountain Hills, AZ 85268

Open House

$1,574,000

4 Beds

3.5 Baths

4,046 SqFt

Status Active

MLS # 6783968

Property Type Single Family Residence

Price Type --

Brand New Construction on probably the best zero premium view lot in Fountain Hills! This stunning home offers the ease of single-level living with the added luxury of a walk-out basement. The main floor features a giant great room with expansive picture windows that capture the stunning views, alongside a gourmet kitchen that opens to a spacious covered terrace overlooking Red Rock, Four Peaks, and the surrounding landscape. Conveniently located near the Scottsdale border, this home provides easy access to everything the area has to offer. The main level also includes the primary bedroom, a dedicated office, and an inviting living area, while the walk-out basement surprises with a generous media room and two additional bedrooms. Come see this beautiful community today!

View Property