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

3102 E Agritopia Loop Gilbert, AZ 85296

Open House

New

$1,250,000

4 Beds

3.5 Baths

4,217 SqFt

Status Active

MLS # 6761495

Property Type Single Family Residence

Price Type --

Beautiful gem with a basement in the heart of Agritopia! You're greeted by a charming front porch, perfect for morning coffee. The spacious great room boasts high ceilings, a contemporary palette, classic plantation shutters, and durable tile flooring. Cook delicious meals in the gourmet kitchen, equipped with granite countertops, shaker cabinetry with crown moulding, recessed lighting, a subway tile backsplash, sleek stainless steel appliances, a pantry, and a two-tier peninsula with a breakfast bar for casual dining. You'll also find a versatile den ideal for an office and a workout room for staying active. The sizable primary bedroom offers a lavish ensuite with double vanities and a convenient walk-in closet. Venture into the finished basement with soft carpeting throughout and a... Venture into the finished basement with soft carpeting throughout and a functional kitchen, perfect for a family room or hosting memorable gatherings. The enchanting backyard showcases a covered deck, pristine artificial turf, and a refreshing pool for cooling down on hot summer days. Make this beautiful residence yours today!

View Property

2934 W Amberwood Drive Phoenix, AZ 85045

Open House

New

$1,250,000

4 Beds

3.5 Baths

4,109 SqFt

Status Active

MLS # 6760822

Property Type Single Family Residence

Price Type --

Welcome to your dream home with stunning mountain views in the exclusive gated Summit at Foothills Reserve! Nestled on a private and secluded .59 acre corner lot backing South Mountain. This property invites you to experience the pinnacle of luxurious living in Ahwatukee. This residence offers an impressive amount of communal space. Boasting 4 bedrooms, 3.5 bathrooms, plus a versatile den/office, a large loft, formal living & dining rooms, and a large family room off the kitchen. The gourmet kitchen features an extended Island, white cabinets, granite counters, butlers sink/ walk in pantry, & stainless appliances. A long list of upgrades include travertine tile, wood shutters, custom stonework, ornate Iron railings, central vac, upgraded insulation, soft water, surround sound + much more! Step outside to discover the greatest aspect of this home, the backyard oasis that awaits. Located on a one of a kind lot with South Mountain and Estrella Mountain views. The yard has been professionally landscaped with a sparkling pebble pool, spa, and waterfall, expansive pavered areas, fire pit, built in BBQ and a huge balcony with exterior spiral staircase. It's an amazing space to share with friends and family. Located within close proximity to the 202 and a quick drive to shopping, dining & entertainment. You also get highly ranked Kyrene Schools, and Desert Vista High School. Don't miss the opportunity to make this spectacular property your own.

View Property

2133 W Tanya Trail Phoenix, AZ 85086

Open House

$1,250,000

4 Beds

3.5 Baths

3,065 SqFt

Status Active

MLS # 6755847

Property Type Single Family Residence

Price Type --

Built in 2022 on a spacious acre lot with no HOA, this highly sought-after NextGen Builders Prescott floor plan offers an exceptional living experience with its thoughtfully designed layout. The residence features a great room floor plan, encompassing four bedrooms, three and a half bathrooms, and an additional office/den. The home is elegantly appointed with high-end finishes, a chefs kitchen including Wolf & Sub Zero appliances, and exhibits a refined, tasteful design. The backyard is designed for low-maintenance living, complete with a covered patio, generous artificial turf space, ramada, and a large paver pad. Additionally, half of the lot remains a blank canvas, ready for you to add your personal touch.

View Property

10555 E Thornton Avenue Mesa, AZ 85212

Open House

$1,250,000

4 Beds

3.5 Baths

3,617 SqFt

Status Active

MLS # 6758456

Property Type Single Family Residence

Price Type --

With a bright, welcoming entry and a peaceful backyard escape, this home offers a perfect balance of comfort and style — an opportunity too good to miss. Premium corner lot centrally located in the gated community Estates at Eastmark. Luxury plank flooring, 10 ft ceilings, wainscoting, upgraded lighting, plantation shutters, gourmet kitchen with butler pantry, custom fireplace and shelving, the built-in closet of your dreams, and the list goes on... Two flex rooms for entertaining or whatever your needs may be. The heated pool with over-sized spa, 48'' concrete fire bowl, custom water feature to showcase the marble pavers and artificial turf surround. Fabulous location with quick freeway access, near restaurants, gyms, shopping and groceries.

View Property

40722 N Harbour Town Court Anthem, AZ 85086

Open House

$1,250,000

4 Beds

3 Baths

2,792 SqFt

Status Active

MLS # 6746130

Property Type Single Family Residence

Price Type --

Be one of the first to view this brand-new listing!! Completely Remodeled Tacoma Floorplan with No Expense Spared. The property is nestled between mountain ranges behind the 24hr manned gates of the Award-Winning Anthem Country Club at the base of Daisy Mountain. Conveniently located, just a few minutes walk from A+++ rated schools, a private golf course, water park and the stunning 55-acre community park. The property benefits from the follow recent updates: New flooring, New cabinetry, New countertops, New sliding doors, New bathrooms, New pool, jacuzzi, travertine decking, outdoor bar, gazebo... And owed 29KW solar panel system.

View Property

6435 E Maria Drive Cave Creek, AZ 85331

Open House

$1,250,000

5 Beds

3.5 Baths

3,209 SqFt

Status Active

MLS # 6704239

Property Type Single Family Residence

Price Type --

5 bedrooms 2.5 bathrooms with a Separate 1 bedroom 1 bath guest house (income opportunity) Incredibily peaceful, quiet location. Hard to believe your minutes away from everything.Courtyard entrance with fireplace accesssible from guest house and main house-great to enjoy on chilly nights. Extended back patio provides shade. Majestic Views of Black Mountain from the pool, view deck, back yard, primary bedroom & main living areas make this a must see home! Lawn in the yard great for the pets. Souring Ceilings t/o the home. All bedrooms are generously sized. Kitchen and Laundry Room all new 2023 quartz counters, shaker cabinets, tile backsplash and stainless steel appliances. Pool remodeled in 2024. Over an acre, County Island, plenty of room for ADU, RV garage, shop, Toys, Horses, ect

View Property

22808 S 132nd Street Chandler, AZ 85249

Open House

$1,250,000

2 Beds

2 Baths

1,077 SqFt

Status Active

MLS # 6713163

Property Type Manufactured Home

Price Type --

Private horse lover's paradise located in a county island in one of the most desirable zip codes in Chandler! This 2.247 acre property boasts eight 16' x 16' fully covered mare motel stalls, a 20' x 20' fully covered Stallion/Foaling stall with attached irrigated grass turnout, two additional irrigated grass turnouts, tack up stall/cross ties, a 150' x 175' arena with premium sand footing, mature shade trees and city water. This property has enough space to build your dream home and barn, but also includes an existing modular home that can be renovated and lived in while your dream home is being built! In addition, a 1.14 acre, MLS #6713160, abuts this property that can be purchased to expand the arena to 175' x 300', or simply build your own version of an equestrian paradise!

View Property

600 E Peach Tree Street Queen Creek, AZ 85140

$1,249,900

2 Beds

2.5 Baths

2,414 SqFt

Status Active

MLS # 6716811

Property Type Single Family Residence

Price Type --

This Napoli model offers a great room floor plan, den, formal dining, nook, spacious primary suite with sitting room and plenty of space for your guests. Sparkling pool and built in BBQ grill overlooking the Encanterra golf course. The kitchen is well equipped with stainless steel appliances, tons of cabinet space and custom light fixtures. The huge rolling wall of glass creates a perfect outdoor space for Arizona living. The smart space laundry room makes a great home office and offers plenty of additional storage. Encanterra offers tons of amenities at your fingertips. Book your visit today and start living the Good Life at Encanterra now!

View Property

5046 E Redfield Road Scottsdale, AZ 85254

$1,249,900

4 Beds

2.5 Baths

3,213 SqFt

Status Active

MLS # 6759883

Property Type Single Family Residence

Price Type --

** REFRESHED PRICE, PACKED WITH VALUE, and TURN KEY - SELLER IS EXCITED TO ENTERTAIN YOUR OFFER and SAYS LET'S TALK ** This GRAND ESTATE is positioned in one of the most highly sought after areas, exquisitely designed, boasts superlative features, upgrades, and updates including, but not limited to NEWER HVAC UNITS, NEW WATER HEATER, NEWER ROOF, and NEW WINDOWS! And if all of THAT isn't enough, the FIRST FLOOR MASTER ENSUITE w/separate sitting area, exquisite tiled FIREPLACE anchored by plantation shuttered side windows, walk-in closet, barn door, large dual vanity & over sized custom walk-in shower w/dual heads, and private exit to your backyard SPA beckons rest and relaxation ... ... while upstairs the 3 oversized Guest Bdrms, 1 beautiful Guest Bath w/dual vanities, and a MASSIVE BONUS /FLEX ROOM (possible 5th Bdrm?) affords room for ALL. Are you the cook in the family? If so, you'll LOVE THE WELL APPOINTED CHEF's kitchen w/quartz counters, RO system, waterfall edge island/bar, newer SS appliances, soft close cabinets, and farmhouse sink overlooks the oversized backyard with several sitting spaces for outdoor enjoyment, a remodeled diving pool, easy care turf, and custom SPA (can you hear the music?). This true OPEN CONCEPT living enjoys easy care wood plank tile and movement flows effortlessly from Entrance to Living and Dining areas, and into the KITCHEN to FAMILY ROOM that features its FIREPLACE that exudes mediterranean style custom tile work, AND separate WET WINE BAR.

View Property

7503 N Magic Dust Way Parks, AZ 86018

$1,249,900

4 Beds

4 Baths

2,898 SqFt

Status Active Under Contract

MLS # 6740727

Property Type Single Family Residence

Price Type --

Beautiful home situated on 9.5 fenced acres. Main home offers 2/3 bedrooms, 2 baths, living room, dining room, bar area, sun room, spacious kitchen, inside laundry room, heated floors & 2 car attached garage. This special property also features separate bunkhouse & a guest house. Bunkhouse is spacious with 2 bunk beds (4 beds total), bathroom & living area. Gorgeous guest house offers bedroom area, living area, bathroom & island kitchen. Property also features 3 ponds (1 is spring fed), out buildings/sheds & heated dog run area. SqFt of 2898 is main house only, does not include the sq footage of the bunkhouse or guest house. Buyer to measure sq ft. Bunkhouse & guest house being sold furnished. Please see attached document for even more features.

View Property

458 W Rock Lane Lakeside, AZ 85929

$1,249,900

4 Beds

4 Baths

3,510 SqFt

Status Active

MLS # 6689402

Property Type Single Family Residence

Price Type --

Immerse yourself in the beauty of the White Mountains with this beautiful 4-bedroom, 4-bathroom Pinetop-Lakeside residence. Fronting Edler Lake in front and the U.S. Forest Service in back, this cedar-sided home is surrounded by nature, where wildlife abounds. At over 3500SF, 2 spacious decks, plus a patio, this is luxury mountain living at its finest. Spend your days hiking, fishing, kayaking, horseback riding, biking, skiing, and more. Providing an ''in the forest'' feeling, the property is very conveniently minutes from everything. The property currently operates as a vacation rental, with a strong history of income. Make it your own home or secondary residence, continue to operate it as a vacation rental, or do a combination of both. Furnishing may convey by separate bill of sale.

View Property

21211 N 38th Place Phoenix, AZ 85050

$1,249,900

4 Beds

3.5 Baths

3,552 SqFt

Status Active Under Contract

MLS # 6751849

Property Type Single Family Residence

Price Type --

Here is a rare opportunity to own a FULLY remodeled home in the highly sought after Fireside at Desert Ridge Community. The first floor features a kitchen to living room open concept with soaring ceilings, 1/2 bath, dining room, office and en suite guest room. The 2nd floor includes a loft, 2 guest rooms, full bath and primary bedroom. Interior upgrades include new flooring and paint throughout. Kitchen-Custom island and breakfast nook, resurfaced cabinets, backsplash, and high end ss appliances and sink. Living Room-new entertainment center with oversized fireplace and built in wine fridge. All bathrooms-upgraded floor tile, countertops, sinks, tiled showers and glass doors. Exterior upgrades-full home paint, front courtyard pavers and gas fireplace, lighting, turf, gazebo & misters.

View Property