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

11304 W Ranger Drive Casa Grande, AZ 85193

$899,000

4 Beds

3.5 Baths

3,487 SqFt

Status Active

MLS # 6697265

Property Type Single Family Residence

Price Type --

Incredible to be built custom home! Great floor plan with high quality, luxurious finishes. Surrounded by other custom homes, including one by this developer. Request a copy of the 3-D virtual tour so you can see for yourself!

View Property

1501 N Miller Road Unit 1002 Scottsdale, AZ 85257

$899,000

3 Beds

2.5 Baths

2,080 SqFt

Status Active

MLS # 6646879

Property Type Townhouse

Price Type --

NEW HOMES FINISHING NOW! The Magic of Vistas of Scottsdale. A boutique Enclave of only 16 private, luxury homes in the Heart of Scottsdale - Location is Everything. Open spaces, clean lines & abundant glass create a design experience to merge the indoors and outdoors. Vistas of Scottsdale are curated with a discerning eye using warm, organic tones and natural textures focusing on the personal nature of the home as a retreat. Sweeping Mountain Vistas are captured from the 580sf roof terrace and unique floating overlook to rival a hotel/restaurant environment. The 30ft wide main living area provides unparalleled openness and light. The builder's vision from the inception was to focus on incorporating premium materials to create an innovative Scottsdale lifestyle.

View Property

16033 E Ponderosa Drive Fountain Hills, AZ 85268

$899,000

3 Beds

3.5 Baths

2,720 SqFt

Status Active

MLS # 6747344

Property Type Single Family Residence

Price Type --

PRICED UNDER MARKET - Meticulous Custom Fountain Hills home on Elevated Lot. High coffered ceilings, 2 Fireplaces, Oversized yard, 3 bedrooms 3.5 Baths. Wide long driveway convenient for yard/garage access. Temperature Controlled Storage room and an additional Temperature Controlled Tool Room to protect all your power-tools and Hobby supplies. Decorative Drapes and Rods do not convey.

View Property

5 Apache County Road 3565 Road Vernon, AZ 85940

$899,000

4 Beds

2.5 Baths

2,823 SqFt

Status Active

MLS # 6643667

Property Type Single Family Residence

Price Type --

This gorgeous custom home on 2.5 acres is nestled in an incredible location. It has privacy, yet still close to town. It's also only 750 yards away from Sponseller Lake! Perhaps the best part is the wildlife preserver bordering the west side of the property. This ensures no vehicle access to the public behind your property! The home features a gourmet kitchen with custom cabinets, wood work, and an expansive open pantry. Enjoy the beautiful, laminate vinyl plank flooring, complimented by the super cozy fireplace. It comes with a tankless hot water heater that will surely come in handy on cold winter days. Step outside to a delightful back patio, where you can enjoy meals with a fantastic view. With 2.5 acres at your disposal, this home is a prized gem!

View Property

12670 W Bajada Road Peoria, AZ 85383

$899,000

2 Beds

2.5 Baths

2,610 SqFt

Status Active

MLS # 6739574

Property Type Single Family Residence

Price Type --

HIGHLY SOUGHT AFTER LOCATION on fairway of the signature #14 hole with expansive views. Spacious backyard features HEATED POOL & SPA, kool decking, large faux grass area & view fencing. Premium features include 2 NEW 2021 TRANE HVAC UNITS, leased SOLAR, 12-FT CEILINGS, & NO CARPETING--large tile & wood flooring. Chef's kitchen w/GRANITE SLAB on countertops & front island, QUARTZ-2021-on center island, staggered cabinets w/abundant storage, built-in s/s appliances w/GAS cooktop, 2 sinks. Adjacent to the kitchen are the great room w/gas fireplace & views of backyard & golf course & a private courtyard with PERGOLA ideal for breakfast or morning coffee. HUGE PRIMARY SUITE with access to back patio has BAY WINDOW/ w/views, bath w/dual sinks, shower & soaking tub, 2 WALK-IN CLOSETS & FLEX RM. Use the versatile flex room for a private office, exercise room, craft or art room, TV watching or combination of uses. The ENSUITE guest bedroom is split from the primary suite. A den, half bath, casual or formal dining room & laundry room are also found in this 2610 SF Tuscan 'Aurora'. The two-car garage with WHOLE HOUSE WATER FILTRATION SYSTEM & 2022 gas hot water heater has additional area for a golf cart & storage. This home is located in award-winning, gated 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the neighborhood. The Mita Club has additional community amenities including a huge resort outdoor pool. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Paloma Park (Peoria's newest park) & Lake Pleasant.

View Property

3555 W Hummingbird Lane San Tan Valley, AZ 85144

$899,000

4 Beds

4.5 Baths

3,120 SqFt

Status Active

MLS # 6742481

Property Type Single Family Residence

Price Type --

*Expected to be ready to close by November 15, seller willing to contribute to closing cost/rate buy down. Updated photos 9/21* Welcome home to your luxurious retreat nestled in the San Tan Valley! Immerse yourself in the breathtaking natural beauty, picturesque sunsets, and unmatched privacy this sanctuary provides. As you enter your own private drive, this sophisticated modern home will overwhelm the senses offering the Scottsdale feel of tastefully appointed design combined with the stunning, low-maintenance, natural front landscape, at a fraction of the price. The well thought out attached casita offers a private retreat complete with its own entrance, kitchenette, laundry, and separate AC system. This additional living space ensures privacy and comfort for all residents and visitors. The casita also has a separate measurable electrical panel and the single car garage can be easily separated to provide a true multi-generational or income providing opportunity! The casita can also be modified to be fully incorporated into the main home to provide easy access to the extra bedroom or provide a flex space with countless possibilities! As you enter the main home, the gourmet kitchen will take your breath away! Featuring top-of-the-line appliances, custom cabinetry, and elegant countertops, meticulously chosen to provide both style and efficiency, making cooking and entertaining a delight. As you retreat to the lavish master suite, the spacious bedroom will offer a serene escape, with large upgraded windows framing the scenic views. The beautiful en-suite bathroom features high end finishes including large walk-in shower with custom tile work, dual vanities with exquisite countertops, large soaking tub, and ample storage, the ultimate in comfort and relaxation. This home is currently under construction with an expected completion date of December 1, 2024 (subject to change). Buyer is eligible to select finishes with deposit. Price is subject to change based on selections. Photos will continue to update progress of build.

View Property

23565 S 201st Street Queen Creek, AZ 85142

$899,000

4 Beds

2.5 Baths

2,684 SqFt

Status Active

MLS # 6738003

Property Type Single Family Residence

Price Type --

Available to see Aug 28th. Inside freshly painted. **Prime Location in Queen Creek!** This stunning custom home is located in one of Queen Creek's best neighborhoods, on a spacious corner lot. Inside, you'll find a luxurious master bedroom with walk-in closets and its own laundry room, a formal living room with a cozy fireplace, and a versatile dining area. The home also features three additional bedrooms, including a large guest suite, and a second laundry room. Outside, enjoy a large backyard with a beautiful pool, built-in barbecue, and ample space for entertaining. Situated on a .42-acre lot with 12-foot ceilings and an open floor plan, this property offers the perfect blend of comfort and style. Don't miss out on this incredible opportunity!

View Property

7601 E Indian Bend Road Unit 1046 Scottsdale, AZ 85250

$899,000

2 Beds

2 Baths

1,625 SqFt

Status Active

MLS # 6730231

Property Type Townhouse

Price Type --

With only 198 ultra-exclusive homes in Corriente, these 48 Perla models are the most coveted. Occasionally, one of the 18 exclusive waterfront views change hands. Although, only 6 are at ground-level, each becoming more desirable as you move inward. Only one offers the perfect combination of total privacy, unrivaled beauty, and absolute serenity. Welcome to the quintessential, Sonoran Desert hideout. Exquisite tile work, updated kitchen, fresh paint, high end appliances, energy efficient lighting, a cozy fireplace and views from every room that takes your breath away. Less than 10 minutes from TPC, Barrett-Jackson, Spring Training, world-class meals, dining and shopping! Or relax in pristine pools, friendly clubhouse and onsite gym - Btw hoa dues include high speed internet and dish TV

View Property

12733 S 177th Lane Goodyear, AZ 85338

$899,000

5 Beds

3 Baths

4,398 SqFt

Status Active

MLS # 6752407

Property Type Single Family Residence

Price Type --

Gorgeous TW Lewis Basement home in gated community of Emerald Greens at Estrella Mountain Ranch. Home Features 3 Bedrooms 2.5 bath on main floor, 2 Bedrooms 1 bath plus Bonus room & Great room with wet bar in finished Basement. Open kitchen overlooking the family room with lots of windows to view the sparkling pool out back. Large Laundry room with sink, cabinets & counter tops for additional storage. Soft Water Loop & RO at the kitchen sink. Surround sound and fire sprinklers throughout. Primary retreat features private exit to backyard as well as an oversized closet, 20 in tile, crown molding 2 new AC units, New cool decking, Close to shopping and restaurants, Why there's not more basements in AZ is beyond me come & see this rare basement home yourself you wont be disappointed

View Property

2223 N Beverly Place Buckeye, AZ 85396

$899,000

4 Beds

2.5 Baths

3,248 SqFt

Status Active

MLS # 6749293

Property Type Single Family Residence

Price Type --

Experience the best of Verrado living! Ideally located across from a serene park with captivating views. Enjoy sunsets from your porch or retreat to your backyard oasis with a sparkling pool, swim-up bar, and covered BBQ area. This energy-efficient home features spray foam insulation, 47 owned solar panels, Tesla batteries for off-grid capability, and no electric bills—just yearly credits! Inside, find wood-look tile floors, stainless steel appliances, new carpet, and smart features like a Rachio watering system and updated pool equipment. The garage has epoxy floors, custom cabinets, and extra storage. Plus, a den and versatile bonus room perfect for a home office, craft room, or gym. Luxury, comfort, and sustainability in one of Buckeye's most desirable communities.

View Property

17678 E Fort Verde Road Rio Verde, AZ 85263

$899,000

2 Beds

2.5 Baths

2,186 SqFt

Status Active

MLS # 6738160

Property Type Single Family Residence

Price Type --

PRICED TO SELL! A rare find at Trilogy at Verde River Golf and Social Club. Let your imagination go wild with this vacant 2 bedroom 2 1/2 bath with office,freshly painted and new carpet in bedrooms.Tile flooring, whole house vac . Gourmet kitchen with Monogram appliances, shaker style shaker custom cabinets with brushed nickel hardware., subway tile backsplash, pendant lights and much more. Large Great Room adjacent to kitchen with surround sound, a wall of glass sliding doors that open up to a spectacular view of the Tonto National Forest. Backyard features built in BBQ, firepit, and built in misters. Exterior TV hook up, outdoor lighting and speakers. Custom floor to ceiling tile in Master bath, soaking tub and separate shower. Large extended garage with shelving and epoxy flooring.

View Property

9695 N Fiorella Street Prescott Valley, AZ 86315

$899,000

4 Beds

2 Baths

2,511 SqFt

Status Active

MLS # 6754054

Property Type Single Family Residence

Price Type --

Discover your dream home in Legend Hills! This beautiful single-level home offers 3 bedrooms, 2 baths, plus a den or 4th bedroom, all within an open floorplan. With stunning views of Mingus, Granite, and Bradshaw Mountains, you'll love the spacious kitchen with granite countertops, stainless appliances, and alder cabinetry. Enjoy cozy nights by the gas fireplace in the great room, and relax in the luxurious primary suite with a walk-in shower and ample closet space. Outside, you'll find pipe rail perimeter fencing, 2 automatic gates, RV parking, a large storage shed roll up doors, and an oversized 3-car garage, new Generac generator for backup power. All this, set on 2.4 acres with city light views and privacy, makes this home a must-see!

View Property