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

19545 E Domingo Road Queen Creek, AZ 85142

$899,995

4 Beds

3 Baths

2,180 SqFt

Status Active

MLS # 6729005

Property Type Single Family Residence

Price Type --

MUST SEE! This beautiful home is located on a corner lot in the community of West Park Estates. Inside you will find; 4 oversized bedrooms, 3 full bathrooms, an oversized chef's kitchen and a spacious layout boasting with 10' ceilings! Front yard landscape is included as well as paver walkway/driveways. The backyard is a clean slate for the buyer to install a pool or whatever they choose

View Property

35234 N Barley Street San Tan Valley, AZ 85144

$899,995

6 Beds

5.5 Baths

3,704 SqFt

Status Active

MLS # 6723814

Property Type Single Family Residence

Price Type --

Deluxe contemporary lifestyle. The Monetta's covered entry and two-story foyer flow past the formal dining room toward the great room and large covered patio beyond. The well-designed kitchen is complete with a large center island, plenty of counter and cabinet space, butler pantry, and walk-in pantry. The primary bedroom suite is enhanced by a spacious walk-in closet and primary bath with dual-sink vanity, soaking tub, shower, and private water closet. Central to the loft, secondary bedrooms feature ample closets, one with private bath, two with shared hall bath and separate dual-sink vanity area. Additional highlights include a first-floor bedroom suite with walk-in closet and private bath, a powder room and drop zone, and centrally located laundry. Casita option added.

View Property

1037 W Ridge Road Apache Junction, AZ 85120

$899,990

4 Beds

3.5 Baths

3,251 SqFt

Status Active

MLS # 6726565

Property Type Single Family Residence

Price Type --

BR, 3.5 baths, enclosed office and enclosed tv room. 14-foot ceiling in family room with 16-ft multistacking SDG in family room leading to patio. Kitchen with 54-inch stacked cabinets with morel and white cabinets in kitchen. Stainless steel appliances with chimney hood. Tile backsplash to top of chimney hood. Dining room cabinets with floating shelves. All bathrooms with upgraded tile tub and tile showers. All bathrooms with upgraded quartz tops. The owners' bedroom with 14-foot ceilings and wall of windows. Includes super shower with upgraded tile work and rain can. Door leading to utility room. Full cabinets with sink. 4-car garage.

View Property

388 E Catalina Lane San Tan Valley, AZ 85140

$899,990

2 Beds

2.5 Baths

2,449 SqFt

Status Active

MLS # 6737092

Property Type Single Family Residence

Price Type --

Stunning sought after Terragona plan with 3 car garage, on large 8400+ sq ft corner lot! Enjoy the spacious back yard with your own private pool w/gorgeous water feature and fire pit! Over $250k in upgrades incl. granite, stone, SS appliances, Elec car charger in garage with tons of storage! Custom shutters, window coverings. 2 islands in the kitchen with granite counters and custom back splash and range hood makes this home ideal for the chef in your family and entertaining! Separate office w/ dbl doors to easily convert the room to guest room. Lg primary suite w/ dbl walk in closets, elec shades and slider to bk yrd. pool area. Interior patio w/fountain adds light and allows for indoor/outdoor dining, or your morning coffee/afternoon cocktails! Enjoy the Good Life in Encanterra CC

View Property

13022 W Solano Drive Litchfield Park, AZ 85340

$899,990

4 Beds

3.5 Baths

3,272 SqFt

Status Active

MLS # 6741980

Property Type Single Family Residence

Price Type --

You will LOVE this CUSTOM estate on over 1 Acre, with NO HOA in the Heart of Litchfield Park! Exquisite basement home with full guest suite, bar and entertaining area downstairs - perfect for multi-gen families or entertaining in general. Home features 4-bedroom, 3.5-baths with many custom touches. Built by well known local builder with no expense spared or detail overlooked. Gated home with circular driveway & large fountain creates grand entrance - and lots of parking. Huge balcony on back of home overlooks stunning HEATED pool, sweeping landscape and Koi pond area. - Complete with built in BBQ area, firepit and lots of seating areas. Property also features large 200 sq ft shed & OWNED Solar system. Ideal location, close to shopping, restaurants & Golf courses at renowned Wigwam Resort

View Property

1208 Highlander Place Prescott, AZ 86305

$899,950

4 Beds

4 Baths

4,119 SqFt

Status Active

MLS # 6710429

Property Type Single Family Residence

Price Type --

Here is the REO/Lender Owned property you have been waiting for. A 2.26 acres custom home that needs to be completed as it is unfinished. Architectural plans available. Property has unbelievable views right from your own porch! This hilltop lot is splittable, leaving many options! Split the land, build a guest home, or second home! You have options. Prime location in the heart of Prescott. Could work as a AirBNB as well! As stated, this is a Lender owned property. The property will be sold as-is, the seller will make no repairs. No SPDS, no CLUE to be provided.

View Property

32527 N 135th Drive Peoria, AZ 85383

$899,942

3 Beds

2.5 Baths

2,462 SqFt

Status Active

MLS # 6705957

Property Type Single Family Residence

Price Type --

3 bedrooms + study, 2.5 baths, a gorgeous interior courtyard and 3 car garage, this great room design is flush with natural light...perfectly capturing those Arizona sunsets. With large picturesque, energy-efficient windows, 10' flat ceilings and 8' tall doors, this home offers tremendous sight lines and just feels like 'home.' Perfect for entertaining, the Gourmet kitchen boasts an oversized island, stainless GE appliances, and designer-appointed backsplash - be the envy of your family and friends. Inside the owner's retreat, personal relaxation is achievable with a spa-like bath boasting a tiled walk-in shower with secondary rain can showerhead and gorgeous quartz countertops. 2x6 construction and Extensive NEW HOME WARRANTY = peace of mind. Welcome home.

View Property

40508 N Kearny Way Anthem, AZ 85086

$899,900

4 Beds

2.5 Baths

3,337 SqFt

Status Active

MLS # 6744790

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This beautifully upgraded property features wood flooring throughout and newly installed showers that add a touch of comfort. The exterior is equally impressive, with installed turf and an extended driveway. The backyard is an entertainers paradise, boasting a stunning built in grill perfect for hosting gatherings. Inside, you will find a spacious master bedroom that serves as a serene retreat. The open family space is ideal for both relaxation and socializing, while the comfortable dining room sets the stage for delicious family meals. The kitchen is equipped with gas stoves and a large island that provides ample space for meal prep and casual dining. Inside the garage you will find large installed cabinetry for more storage. Come see today! Motivated seller!

View Property

32312 N 142nd Street Scottsdale, AZ 85262

$899,900

4 Beds

3 Baths

3,025 SqFt

Status Active

MLS # 6591221

Property Type Single Family Residence

Price Type --

**3.3 ACRE LOT** COMPLETED SPEC AS OF APRIL 7, 2024** THIS HOME IS HIGHLY UPGRADED INSIDE AND OUT. THE SPACIOUS 4 BDROOM, 3 BATHS HAVE 3025 SQUAREFEET. UPGRADED CHERRY CABINETS, LARGE ISLAND, 4 CAR GARAGE ON 2.35 ACRE LOT,AND INCREDIBLE VIEWS!. WE ALSO HAVE 3 OTHER LOTS READY TO BUILD YOUR DREAM HOME ON OR WE CAN BUILD ONE OF OUR CURRENT MODELS.

View Property

14067 E Aloe Vera Drive Scottsdale, AZ 85262

$899,900

4 Beds

3 Baths

3,025 SqFt

Status Active

MLS # 6591218

Property Type Single Family Residence

Price Type --

**COMPLETED SPEC AS OF APRIL 7, 2024**. THIS HOME IS HIGHLY UPGRADED INSIDE AND OUT. THE SPACIOUS 4 BDROOM, 3 BATHS HAVE 3025 SQUAREFEET. UPGRADED WHITE CABINETS, LARGE ISLAND, 4 CAR GARAGE ON 2.35 ACRE LOT,AND INCREDIBLE VIEWS!. WE ALSO HAVE 3 OTHER LOTS READY TO BUILD YOUR DREAM HOME ON OR WE CAN BUILD ONE OF OUR CURRENT MODELS. PICTURES ARE OF A PREVIOUSLY BUILT 3025 PLAN AND MAY CONTAIN FEATURES OR UPGRADES NOT INCLUDED IN THIS SPEC.

View Property

W Hooper Trail Unit 2 Queen Creek, AZ 85144

$899,900

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6134536

Property Type Single Family Residence

Price Type --

CHECK OUT THE VIEWS!!! BREAKING GROUND SOON! Double bonus: Beautiful new home on a beautiful property backing up to the San Tan Mountain Regional Park! Our most popular floor plan 4 bed 3 bath (could be 3 +Den), Great Room, split Master. Standard features include granite throughout, stainless, tile surrounds, covered patio, 4-car garage, and more! NO HOA! Plenty of time for Buyer to make selections for flooring, cabinets, colors, etc. Estimated completion 9-10 months from ground-breaking. Photos are of a completed version of this plan.

View Property

13407 W Thomas Street Casa Grande, AZ 85122

$899,900

3 Beds

2 Baths

1,760 SqFt

Status Active

MLS # 6733402

Property Type Manufactured Home

Price Type --

The Ultimate Horse Property! Situated on over 6 acres with irrigation rights in the heart of Casa Grande, this place was made to impress. Let's kick it off with over a million lumens lighting the 180'X300' Roping Arena, automatic Priefert roping chute under the 30'x50' covered boxes. 100'X80' Custom 8 stall horse barn with breezeways, automatic waters, fans, leading out to the 4 stall automatic horse jogger. 20'x16' tack room that's wired and has a split unit. 50'X60' Shade that covered on 3 sides, concrete parking, RV Hook Up, and 3 wired containers. 45'x52' Hay barn with concrete, 110 power, and a full RV hook up. 36'x48' small animal shades, 12 total pens,show ring, wash area. House features custom cabinets, granite countertops, stainless steel appliances, and full covered porches.

View Property