What’s Ahead For Mortgage Rates This Week – February 6, 2017

Last week’s economic news included several good signs for U.S. Labor Markets with higher than expected readings for private and public sector job creation. The Federal Reserve announced its decision not to raise the target federal funds range, and inflation rose. Mortgage rates held steady and pending home sales rose.

Private and Public Sector Jobs Post Unexpected Gains

ADP, which tracks private-sector job growth, showed a gain of 246,000 jobs in January against expectations of 168,000 new jobs and December’s reading of 151,000 private sector jobs created. Analysts said 208,000 of jobs added were service-related jobs. January’s Non-Farm Payrolls, which is issued by the Labor Department and includes private and public sector jobs, also posted higher than expected job gains with 227,000 new jobs in January as compared to 197,000 new jobs expected and December’s reading of 157,000 new jobs. Retail, construction, financial and restaurant industries led job growth. The jump in construction hiring could indicate that home builders will expand construction in an effort to ease short inventories of homes for sale.

The national unemployment rate rose to 4.70 percent in January and matched analysts’ expectations based on December’s reading of 4.60 percent. New jobless claims were lower than expected with a reading of 246,000 new claims against expectations of 254,000 new claims and the prior week’s reading of 260,000 initial jobless claims.

Mortgage Rates Little Changed; Pending Home Sales Up

Freddie Mac reported little change in mortgage rates last week. Interest rates for 30-year fixed rate mortgages averaged 4.19 percent and were unchanged from the prior week. Rates for 15-year fixed rate mortgages rose by one basis point to 3.41 percent and the average rate for a 5/1 adjustable rate mortgage rose three basis points to 3.23 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

In related news, the Federal Reserve’s Federal Open Market Committee decided not to rate the Fed’s target rate that is currently 0.50 to 0.75 percent. Fed benchmarks for the economy include an unemployment rate of 5.00 percent or lower, but the annual growth inflation benchmark of 2.00 percent has not been met. January’s inflation rate rose by 0.10 percent above December’s reading of 0.0 percent.

Pending home sales increased in January with an increase of 1.60 percent; this exceeded December’s negative reading of -2.50 percent in December. Analysts said that the growth in pending home sales, which represents sales under contract that have not closed, reflects ongoing high demand for homes. Pending sales also suggest future volume for completed sales and mortgages.

Consumer confidence lagged in January to an index reading of 111.80 as compared to an expected reading of 112.90 and December’s reading of 113.30. December’s reading was the highest in 15 years. Analysts cited post-election uncertainty as contributing to consumer concerns.

What‘s Ahead

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

What’s Your Home Worth?

Search for Your New Home

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

5966 W Aurora Drive Glendale, AZ 85308

$630,000

4 Beds

3 Baths

2,676 SqFt

Status Active

MLS # 6679878

Property Type Single Family Residence

Price Type --

Freshly Painted!! Amazing 4-bed, 3-bath home in the highly sought-after Arrowhead Ranch New Legends Community! Come inside to a graceful entryway, a dramatic spiral staircase, & elegant chandeliers. Hardwood floors, high ceilings & plantation shutters. accentuate the formal dining/living room. Gas fireplaces in the family room & loft for make those cozy memories with the family magical. Kitchen has built-in appliances, a center island, and a breakfast bar with granite counters . The spacious master bedroom boasts high vaulted ceilings, & the master bath w/dual sinks, seperate tub and shower & walk-in closet. Bedroom & bathroom downstairs convienience for the guests! Peaceful backyard offers a covered patio, and shade trees.

View Property

6565 E Thomas Road Unit 1119 Scottsdale, AZ 85251

$630,000

3 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6720107

Property Type Townhouse

Price Type --

Modernly remodeled, newer built townhome IN the HEART of it all AND has it all! 3 beds, 2 baths, an open, split floorplan, elegant white marble-tile throughout, it has an entertainers delight kind-of-feel w/ a grand kitchen, extra wide island & sink, stunning white/gray/black granite countertops, classic gray tiled backsplash & flat white wood cabinetry. Light & bright with updated lighting, crystal chandeliers & ceiling fans in every room. Chill outside on your 2 private balconies, keep 2 cars cool in your garage. Diamante is a gated community with a huge sparkling pool- heated in the wintertime & always hot jacuzzi. Close to Old Town Scottsdale restaurants, bars & shopping, airport, 3 major freeways, golf, hiking mountains, Spring Training, Phx Open, Barrett Jackson & other AZ events.

View Property

2677 E Ficus Way Gilbert, AZ 85298

$630,000

3 Beds

2 Baths

2,249 SqFt

Status Active

MLS # 6742444

Property Type Single Family Residence

Price Type --

. Welcome to your new oasis in Gilbert! This delightful 3-bedroom, 2-bathroom home is perfectly situated near the serene Gilbert Regional Park, offering both tranquility and convenience. As you step inside, you're greeted by light-filled, spacious rooms featuring plantation shutters.The perfect floor plan includes a formal living room, dining room, and a separate den. You'll love entertaining in the open-concept island kitchen, a gas stove, and an inviting family room that overlooks a serene patio. The patio, with pavers and mature professional landscaping, includes a built-in gas BBQ, making it ideal for summer barbecues and outdoor gatherings.The spacious master suite is a peaceful retreat. some photos are virtually staged!

View Property

6565 E Thomas Road Unit 1041 Scottsdale, AZ 85251

$630,000

3 Beds

2 Baths

1,548 SqFt

Status Active

MLS # 6754945

Property Type Townhouse

Price Type --

Discover your dream condo with both luxury and convenience in the sought-after gated Diamante Community in Scottsdale! This spacious 3-bed, 2-bath home offers 1,548 square feet of open living space with a desirable split floor plan. The living room provides stunning, unobstructed views of Camelback Mountain, perfect for enjoying Arizona's beautiful sunsets. The updated kitchen features stainless steel appliances and granite countertops while the primary suite includes a walk-in closet for ample storage. This unit includes a 2-car attached garage and access to community amenities, including a pool and BBQ areas. Ideally located in between Old Town Scottsdale (2 mi), Camelback Mountain (3 mi), Arcadia (1 mi), the Arizona Biltmore (6 mi), ASU (4 mi), & Sky Harbor International Airport (5 mi)

View Property

26207 N 47th Place Phoenix, AZ 85050

$630,000

4 Beds

2.5 Baths

2,359 SqFt

Status Active

MLS # 6773215

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION!! Seller has drastically reduced the price for an exceptional deal!!! Welcome home to gorgeous Tatum Highlands, located about 4 miles north of Desert Ridge Marketplace! Paradise Valley School District! This home has been maintained and cared for impeccably. Enjoy the views from the walk out balcony off the extra large primary bedroom. Beautiful bamboo wood and tile floors throughout! Laundry room is conveniently located upstairs on same level as the bedrooms! Beautiful double French Doors lead out to the backyard. No home behind you! This cul-de-sac home is ready to be YOUR HOME! A must see!

View Property

10489 E Topaz Circle Scottsdale, AZ 85258

$630,000

2 Beds

2 Baths

2,041 SqFt

Status Active Under Contract

MLS # 6754335

Property Type Single Family Residence

Price Type --

Fantastic location for 55+ adult community patio home in Scottsdale Ranch. Great corner lot, all 1 level, great bones, wonderful opportunity to customize to your preferences for this spacious 2 bedroom plus den home. Community amenities include heated pools, tennis courts and close proximity to Scottsdale Senior Center.

View Property

2583 S Quaintance Street Gilbert, AZ 85295

$630,000

3 Beds

2.5 Baths

1,862 SqFt

Status Active

MLS # 6774352

Property Type Single Family Residence

Price Type --

Gorgeous home in the sought-after Cooley Ranch community! This light & bright home with soaring ceilings offers an open concept floor plan, neutral pallet, wood-look tile flooring, recessed lighting, & sleek modern finishes throughout. The gourmet kitchen boasts granite counters, a gas stovetop, top-notch stainless steel appliances, RO System, & a walk-in pantry. Unwind in your primary retreat boasting an impressive bath with dual vanities & a walk-in shower. Enjoy AZ living in your updated backyard with a covered patio, pavers & synthetic grass. 2-car garage & tankless water heater. You'll love this private community with amenities like biking paths, pool, rec center, sports courts, & more. Prime Gilbert location with quick access to highways, schools, shopping & dining!

View Property

1458 E Black Diamond Drive Gilbert, AZ 85296

$629,999

3 Beds

2.5 Baths

2,185 SqFt

Status Active

MLS # 6780772

Property Type Single Family Residence

Price Type --

Seller Concessions Available! Welcome to 1458 E Black Diamond! This spacious 3 Bed, 3 Bath home includes a 2-car GARAGE and a high VAULTED ceiling in the main living area. Tile and luxury vinyl plank flooring throughout, new carpet upstairs, granite countertops, ceiling fans, NEWER appliances, Washer/Dryer Hookups, and more! Huge master bedroom, bonus room, and FRESH PAINT. Outside - a larger than usual CORNER LOT with a HUGE backyard, fruit trees, and desert landscaping. PAID-OFF SOLAR at close! Nearby - you're within walking distance to multiple parks, Fry's, and Home Depot (3 mins); Gilbert Riparian Reserve, Cosmo Dog Park, Costco (7 mins); Downtown Chandler and San Tan Village (12 mins); golf courses; and have easy access to Loop 202.

View Property

17375 N 10th Street Phoenix, AZ 85022

$629,999

3 Beds

2.5 Baths

2,610 SqFt

Status Active Under Contract

MLS # 6766700

Property Type Single Family Residence

Price Type --

Take pride in residing in this highly upgraded home in Villas at Trellis! Appealing interior boasts clean lines that promote a modern feel! Abundant natural light graces the open floor plan paired w/hardwood flooring, crown moulding, surround sound, & wide sliding glass doors to the back patio. Lovely kitchen provides recessed & pendant lighting, SS appliances, ample cabinetry, subway tile backsplash, a pantry, & a butcher block prep island w/a breakfast bar. Make the flexible den & loft a study or TV area. HUGE main retreat offers plush carpet & an ensuite comprised of two vanities, make-up desk, large shower w/a drying area, & a walk-in closet. Fabulous backyard comes w/a covered patio perfect for relaxing or throwing a barbecue and enough space for fun get-togethers. Don't miss it!

View Property

7833 E Obispo Avenue Mesa, AZ 85212

$629,998

4 Beds

2 Baths

2,532 SqFt

Status Active Under Contract

MLS # 6775630

Property Type Single Family Residence

Price Type --

NEWLY RENOVATED ON A MASSIVE CORNER LOT! Home features 4 beds + a dedicated office space perfect for working from home and 2 full baths. A newly renovated kitchen with modern finishes! Oversized primary bedroom with completely remodeled bathroom! 12,000+ square foot lot with beautiful surrounding views and a sparkling pool! New interior and exterior paint! So many recent upgrades, come see it today because it won't last long!

View Property

21711 E Roundup Way Queen Creek, AZ 85142

$629,995

3 Beds

2.5 Baths

2,510 SqFt

Status Active

MLS # 6702803

Property Type Single Family Residence

Price Type --

Welcome to Light Sky Ranch and the Dominic plan. This single level, 2510 square foot home boasts an open, inviting layout for entertaining. At the heart of the home is a spacious great room that flows into a sunny kitchen with a center island, dual walk-in pantries and an inviting breakfast nook, opening to the covered patio. A luxurious primary suite features an immense walk-in closet and attached bath with double sinks, and a luxurious separate tub and shower. With two additional bedrooms and a teen room, two and a half baths, and a dedicated study, the home offer plenty of space for privacy as well. Outside, a single-car garage and a 2-car garage offer ample storage for vehicles, outdoor gear, and more. With amenities such as a tankless water heater for efficiency and a charming paver driveway, this home seamlessly blends convenience with sophistication.

View Property

21724 E Roundup Way Queen Creek, AZ 85142

$629,995

3 Beds

2.5 Baths

2,510 SqFt

Status Active

MLS # 6708033

Property Type Single Family Residence

Price Type --

Step into Light Sky Ranch and experience the allure of the Dominic plan. This single-level residence spans 2510 square feet and presents an inviting layout ideal for entertaining. The focal point of the home is its expansive great room, seamlessly connected to a sunlit kitchen featuring a central island, dual walk-in pantries, and a welcoming breakfast nook that extends to the covered patio. Retreat to the luxurious primary suite boasting a generous walk-in closet and an attached bath with double sinks and an elegant shower. With two additional bedrooms, a teen room, two and a half baths, and a dedicated study, this home offers ample space for privacy and relaxation. Outside, a single-car garage and a 2-car garage provide abundant storage for vehicles and outdoor equipment. Enhanced with amenities such as a tankless water heater for efficiency and a charming paver driveway, this residence effortlessly blends convenience with sophistication.

View Property