What’s Ahead For Mortgage Rates This Week – January 30, 2017

Last week’s economic news included readings on new and existing home sales and mortgage rates. Also released were reports on new jobless claims and consumer sentiment.

New and Existing Home Sales Lower in December

According to the U.S. Commerce Department, sales of new homes fell to 536,000 sales on a seasonally-adjusted annual basis. This reading was markedly lower than the expected rate of 595,000 sales and November’s reading of 598,000 sales. Analysts said that the drop in new home sales indicated that the housing sector is still experiencing a rocky recovery. December’s reading for new home sales was 10.4 percent lower than December’s adjusted reading of 598,000 sales. December’s reading was 0.40 percent lower year-over-year.

The median sale price of new homes was $322,500 in December, which was 4.30 percent higher than in November and 7.90 percent higher than in December 2015. The dip in sales has increased inventory of available homes to a reading of 5.80 months needed to sell all new homes presently available. Real estate pros typically consider a six-month supply of homes for sale a normal inventory.

In related news, sales of pre-owned homes were also lower in December. The National Association of Realtors® reported December sales at 5.49 million on a seasonally-adjusted annual basis; this reading was lower than expectations of 5.51 million sales and November’s reading of 5.65 million sales. The slower rate of sales may signal that home prices have topped out; there is also a very low inventory of available pre-owned homes for sale as compared to demand. Sales of pre-owned homes were 2.80 percent lower than November’s reading, which was the highest rate of existing home sales since 2007. Sales of pre-owned homes were 0.70 percent higher year-over-year.

Winter weather and holidays may have contributed to lower home sales in December, but higher prices, tough mortgage requirements and a low supply of available pre-owned homes were seen as obstacles to completed home sales for December.

Mortgage Rates Mixed, New Jobless Claims Rise

Freddie Mac reported higher fixed rates for mortgages last week. The average rate for a 30-year fixed rate mortgage rose 10 basis points to 4.19 percent; the average rate for a 15-year fixed rate mortgage rose six basis points to 3.40 percent. The average rate for 5/1 adjustable rate mortgage fell by one basis point to 3.20 percent. Discount points for fixed rate and 5/1 mortgages averaged 0.40 percent.

New jobless claims exceeded expectations of 250,000 new claims with a reading of 259,000 new claims and the prior week’s reading of 237,000 new claims. Analysts said that volatility is common with new jobless claims in January. There were few layoffs reported and good news that the new jobless claims rate remained below the benchmark reading of 300,000 new claims for the 99^th consecutive week. This milestone was last seen in 1970.

The four-week rolling average of new jobless claims fell by 2000 to an average of 245,900 new claims filed; this was the lowest reading since 1973.

Consumer sentiment rose to 98.5 which surpassed the expected reading of 98.2 percent and December’s reading of 98.1 percent.

What‘s Ahead

Multiple readings on housing and labor related data will be released this week. Scheduled releases include pending home sales, Case-Shiller Housing Market Indices and construction spending. Reports on inflation and core inflation are due along with readings on non-farm payrolls, ADP payrolls and the national unemployment rate.

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 HomeOtherSingle 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

19980 E El Nido Lane Litchfield Park, AZ 85340

$1,299,371

4 Beds

3.5 Baths

3,261 SqFt

Status Active

MLS # 6752334

Property Type Single Family Residence

Price Type --

FORMER MODEL HOME; Fully furnished 4 bed, 3.5 bath, study, tv room and 6 car garage; fully landscaped front and backyard including backyard furniture, purgula, outdoor kitchen and gas firepit; vaulted ceiling & 16' sliding glass door in family room; tray ceiling in study & owner's retreat, custom celing and wall treatments; waterfall island, GE Monogram appliances w/refrigerator & wine/bev refrig; GE W/Dryer; upgraded plank tile flooring, custom tile in both kitchen and baths, multiple shower heads in owner's bath; clean, modern and ready to move in with all furniture and accessories.

View Property

2526 W Fernwood Drive Phoenix, AZ 85086

$1,299,000

4 Beds

3.5 Baths

2,810 SqFt

Status Active

MLS # 6758171

Property Type Single Family Residence

Price Type --

This stunning new construction spec house offers modern luxury and spacious living on a sprawling flat acre lot. Boasting 2810 square feet of carefully crafted open-concept living space, this home features a desirable split floor plan with 4 bedrooms and 3.5 bathrooms, providing ample space and privacy for the entire family. The heart of the home is the beautifully designed kitchen, perfect for entertaining and everyday living. The expansive living area seamlessly flows from the kitchen, creating a warm and inviting atmosphere for gatherings. In addition to the generous living space, this property comes with a rare and highly sought-after feature - a 4-car garage with an attached RV garage. Whether you're a car enthusiast or an avid traveler, this space offers the flexibility... and convenience you need. Outside, the vast acre lot provides plenty of room for outdoor activities, gardening, or even the possibility of adding a pool or guest house in the future. Located in a desirable area, this home offers the perfect combination of tranquility and convenience. Don't miss the opportunity to make this exceptional property your own. This home is ready for occupancy, come experience the luxury and comfort this home has to offer! Note, Photos are of same model home, previously completed.

View Property

37-39 Ok Street Bisbee, AZ 85603

$1,299,000

3 Beds

5 Baths

2,987 SqFt

Status Active

MLS # 6737148

Property Type Single Family Residence

Price Type --

Truly Unique Old Bisbee Property- 3 Bedroom/5 Bath, 3,712 sq ft (including heated/cooled finished basement) with dedicated 2,000 sq ft PARKING LOT. Formerly Copper City Saloon and Hot Licks Saloon, now zoned Residential, with fully intact bar, fully furnished (complete with pool table), retrofitted to serve as a residential kitchen. Finished Basement serves as a Primary Bedroom with Jacuzzi, and 2 additional bathrooms, and separate Laundry Room. Second Floor currently rented as Airbnb- with two separate units, vast Great Room with full Kitchen, 14' ceilings, hardwood floors, Covered Deck with great views of Downtown Old Bisbee and surrounding hillsides. Includes 2 Parcels: 103-62-312 and 103-62-313.

View Property

3865 S Mingus Drive Chandler, AZ 85286

$1,299,000

5 Beds

4.5 Baths

3,424 SqFt

Status Active Under Contract

MLS # 6750721

Property Type Single Family Residence

Price Type --

Bring your most discerning buyers - this one shows like a brand-new model home! Luxury, privacy, and modern living all in one! Located on a quiet corner lot that backs to greenbelt in the gated community of Cantabria, this stunning home features 5 beds + 4.5 baths + office. Though it was already a showstopper, an additional $160k+ of recent upgrades have taken it to the next level! Enjoy cooking and gathering in the gorgeous chef's kitchen that boasts white shaker soft-close cabinets, designer wood hood, grand island with quartz counter tops, upgraded stainless steel appliances, new farmhouse sink and new refrigerator. The spacious primary suite is a luxurious haven featuring elegant coffered ceilings and a bathroom that looks like you stepped into a high-end resort spa! Huge sliding arcadia doors lead you to your private oasis in this sleek, newly re-designed backyard that has it all: sparkling pool, custom shade pergola, outdoor kitchen, misters to keep you cool on a hot Arizona day, cozy outdoor fireplace, mountain views and low-maintenance turf. It's the perfect setting for entertaining or unwinding in style! Located in top-rated Chandler school district and just 15 min to vibrant Downtown Chandler & Downtown Gilbert restaurants, shopping & amenities. Enjoy effortless access to major highways including Loop 202, Loop 101, & I-10 and located within 20 minutes of the thriving Price corridor, home to renowned companies such as Intel, Orbital, Northrup Grumman, Wells Fargo, GM and more!

View Property

6803 E Main Street Unit 2210 Scottsdale, AZ 85251

$1,299,000

2 Beds

2 Baths

1,684 SqFt

Status Active

MLS # 6751253

Property Type Apartment

Price Type --

ABSOLUTELY GORGEOUS remodeled beauty with designer touches at every turn as well as the largest balcony of any unit at The Mark!Unit boasts so many upgrades including top of the line lighting throughout, the Entertainers Kitchen has been totally renovated to include marble countertops, 2 built in wine cooler's, new sink and fixtures as well as brand new appliances. TVs and Fire feature framed in by WI Appliance along with stunning custom chandeliers , motorized shades/plantation shutters, California Closet upgrades and so much more. The Mark features top of the line amenities which includes the STUNNING BRAND NEW roof top pool area, fitness center underground parking and Concierge. Room service delivered from the Valley Ho!! Extra storage cabinets installed in the parking spots. MUST SEE

View Property

10731 N Sonora Vista Fountain Hills, AZ 85268

$1,299,000

4 Beds

3.5 Baths

3,637 SqFt

Status Active

MLS # 6743623

Property Type Single Family Residence

Price Type --

Prepare to enjoy breathtaking, unobstructed views from almost every room in your home. Step inside, passing through the entryway to the great room, where high ceilings and large windows capture the breathtaking views, from Red Mountain to the north, Four Peaks and Mazatzal Mountains, all the way to Superstition Mountains beyond the east valley. The great room comfortably connects the living room with the dining room and flows to the open kitchen, with abundant cabinet and counter space, large pantry, gas range, double-ovens, and Sub-Zero fridge. Just beyond the living room is the primary suite, with the ensuite bathroom and spacious walkin closet you would want in a home of this caliber. Also on the main level you'll find a guest bedroom with ensuite bathroom, laundry room, and a half bathroom. Don't miss the garage, with extra depth and 12' ceilings on the main 2-car garage, plus a separate third bay garage. Downstairs you'll find another ensuite guest bedroom and a huge office which could easily be an additional bedroom (currently no closet). These rooms are split by a family/game room with an impressive 4k LED projector and screen. The double-sliding doors to the back yard make this another great space for indoor/outdoor entertaining. Outside offers multiple areas to relax, with a balcony off the main living space, both covered and uncovered patios in the back yard, as well as a putting green, all of these of course with the idyllic panoramic Arizona views as your backdrop. Homes with these amazing features and stunning views don't come around often, come see it today!

View Property

8731 E Columbus Avenue Scottsdale, AZ 85251

$1,299,000

6 Beds

3 Baths

2,852 SqFt

Status Active

MLS # 6756747

Property Type Single Family Residence

Price Type --

Remodeled 6 bedroom home that shows like a model near Old Town Scottsdale, a seasoned perfect investment property. 6 bedrooms, open layout, heated pool resort yard w/putting green & fire pit. 12' accordion folding glass door connects the kitchen to large covered patio, with festive string lighting, couch and table seating in full view of BBQ, heated pool, patio TV. White bright kitchen overlooks patio and features granite sit-up island, stainless steel appliances. Solar for energy efficiency. Designer turf and pavers. Renovated in 2023 with wood-tile floors throughout, smooth walls, updated hardware, lighting fixtures & contemporary easy to maintain furnishings, wall mount TVs and sleeping quarters that provide five-star reviews. Sleeps 16. Upcoming rental income conveys. N Near Old Town Scottsdale a few minutes from the 101 Loop for quick access to everything in the Phoenix Valley. Minutes to Scottsdale's top evening entertainment, ASU, Golf, Casino and music venues, Kierland/Scottsdale Quarter, Princess TPC Open, West World Equestrian events and the Collector Car Auctions, and the new Ritz-Carlton Paradise Valley and Scottsdale Palmeraie, expected to be one of the top shopping, dining and entertainment districts in North America. See video walk-thru. Rent rolls/financials available upon request

View Property

39028 N Fernwood Lane Scottsdale, AZ 85262

New

$1,299,000

3 Beds

3 Baths

2,869 SqFt

Status Active Under Contract

MLS # 6760466

Property Type Single Family Residence

Price Type --

Welcome to this stunning Santa Fe Custom Home, perched at a refreshing 3100 ft. elevation where it's cooler and the views are even more breathtaking. Nestled above a quiet cul-de-sac, you'll fall in love with the privacy, majestic mountain views, and the beauty of mature trees and vibrant blooming plants. Renovated by talented decorators, this home radiates warmth and charm with its Spanish Terracotta tile floors, carved corbels, twisted vigas, and clavos-accented doors, all centered around a striking two-sided cantera fireplace. The designer kitchen, open to the living areas, is equipped with high-end appliances and ample storage, perfect for both everyday living and entertaining. Step into your own private oasis in the backyard, where a 35' lap pool and lush landscaping create a tranquil, vacation-like escape, all with serene mountain views as your backdrop. This home is a true retreat, offering luxury, style, and a warm invitation to enjoy the beauty of every detail.

View Property

11776 N 81st Street Scottsdale, AZ 85260

$1,299,000

4 Beds

3 Baths

2,472 SqFt

Status Active

MLS # 6736662

Property Type Single Family Residence

Price Type --

Easily one of the BEST INTERIOR LOTS in the subdivision. Home has elevated views of the water and Golf Course. Super quiet and private interior optimal lot with only one home sharing lot line! This is a stunner complete with private pool and spa. Home also boasts a detached casita with full bath that is 399 SF not included in the 2472 SF Count. Better hurry as these properties sell fast!! Priced to SELL!!

View Property

7521 E Camino Salida Del Sol -- Scottsdale, AZ 85266

$1,299,000

3 Beds

2.5 Baths

3,210 SqFt

Status Active

MLS # 6720520

Property Type Single Family Residence

Price Type --

Welcome to this peaceful, light and bright home in the hidden gem gated community of Las Piedras at Sevano Village. Located just seconds from the site of the new Ashler Hills Park and the convenience of shopping and restaurants, this home boasts many upgrades in a neutral palette including a beautifully renovated kitchen all in an open, great room concept. A gated courtyard entry with a babbling water feature make a welcoming entrance and comfortable outdoor living space. A well thought out floor plan separates the two guest bedrooms from the grand primary suite with its dual walk-in closets in a spa-like bathroom. A large den located off the great room through double doors makes a great office, library or media room. The rear outdoor living space has a wonderful fire pit, artificial turf area, covered patio, pavers and Southerly down valley mountain views to round out this fabulous home.

View Property

28021 N 156th Street Scottsdale, AZ 85262

$1,299,000

3 Beds

2.5 Baths

2,704 SqFt

Status Active

MLS # 6760088

Property Type Single Family Residence

Price Type --

Welcome to this stunning new home, offering 2700+ SF of modern living with breathtaking area views. This beautifully designed residence features three spacious bedrooms, versatile den, 2-1/2 baths, oversized 2 car garage w/ attached RV garage. The open-concept floor plan showcases a gourmet kitchen with high end appliances, an inviting living room with a cozy fireplace, and large windows that fill the space with natural light. The primary suite is a tranquil retreat, complete with an ensuite bathroom and walk in closet. Step outside onto a covered patio perfect for outdoor entertaining while enjoying some area mountain views. With beautiful landscaping and energy efficient features, this home perfectly blends comfort, style, and functionality for your dream lifestyle.

View Property

16401 W Monterey Way Goodyear, AZ 85395

$1,299,000

3 Beds

3.5 Baths

3,134 SqFt

Status Active

MLS # 6720218

Property Type Single Family Residence

Price Type --

Experience the pinnacle of resort living at PebbleCreek, an exquisite master-planned community designed for active adults. This luxury golf front property is nestled in a guarded and gated country club setting, offering spectacular views of the golf course and surrounding mountains. PebbleCreek is a vibrant lifestyle community rich in unique and abundant activities for seniors. With its many views, updates and upgrades, this home is your perfect ''Escape to Paradise'' in a community that offers an unparalleled resort lifestyle. Step into elegance through a gated courtyard entry with a separate casita. Inside, discover the newly remodeled living room, a true centerpiece, showcasing a stunning stone fireplace and an open floor plan perfect for entertaining. This home boasts an impressive chef's kitchen featuring a butler's station, large walk-in pantry, new stone island, upgraded appliances, custom wood cabinetry and granite countertops. Three generously sized bedrooms, each featuring walk-in closets and private baths. A versatile den that can also serve as a fourth bedroom with its own walk-in closet. 3.5 beautifully appointed bathrooms. Oversize laundry room. Spacious 3.5 garage. Energy efficiency is maximized with fully owned solar panels, and the property has been updated with fresh interior and exterior paint, new flooring, modern lighting, and durable epoxy-coated garage floors.

View Property