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

401 N Whitetail Knob Drive Payson, AZ 85541

$895,000

3 Beds

3 Baths

1,882 SqFt

Status Active

MLS # 6694079

Property Type Single Family Residence

Price Type --

Rare picturesque mountain home in a very private peaceful location right under the Mogollon Rim near the headwaters of the East Verde River, with amazing views of the Rim. The House has two bedrooms & a loft plus a guest house. Abundant decks and serene landscaping invites refreshing relaxation. The lush greenery is fed by irrigation water pumped to the house from the ditch, fed by the East Verde River. Private access is afforded by a private driveway on US Forest Service land by permit. The adjoining lots 55 and 54, can be purchased for an additional price of $550,000. Also the property is ajacent to the national forest sevice on its entire eastern property boundary line, giving the property the feel of its own privite canyon retreat. See document tap Survey & REA Property Flyer

View Property

1909 W Yearling Road Phoenix, AZ 85085

$895,000

3 Beds

2 Baths

2,391 SqFt

Status Active

MLS # 6735712

Property Type Single Family Residence

Price Type --

The Chatman Charm awaits! This beautiful one-story Desert Craftsman meticulously built by David Weekley in the prestigious Union Park community exudes modern elegance. The fabulous interior features warm tones and dramatic entry rotunda, leading to an open great room, abundant natural light, gorgeous flooring, sizable bedrooms, and ample living spaces for entertainment. The kitchen is equipped for the family chef, boasting an elongated kitchen island, wall oven, stainless steel GE appliances, pantry and an abundance of cabinets. The spacious primary suite offers a luxurious walk-in closet and bath complete with an oversized double vanity, a walk-in shower and private water closet. Gorgeous 3 panel sliding glass doors create an indoor/outdoor entertaining dream and lead to your backyard... paradise! Host fun gatherings with a sparkling pool, lush matured trees and a covered patio. Low-maintenance landscaping combines rock, pavers, and artificial turf. Additional features include a tandem garage, 10ft flat ceilings, updated paint 2024, updated flooring in 2024. The house itself is only 5 years old being built in 2019. Don't miss out on this fantastic opportunity!

View Property

5712 N Scottsdale Road Paradise Valley, AZ 85253

$895,000

3 Beds

2 Baths

1,922 SqFt

Status Active

MLS # 6714346

Property Type Townhouse

Price Type --

Prime location Paradise Valley home in a quite GATED community. New Roof replacement with 10 year warranty for new owner. This fully remodeled 3-bedroom gem offers the ultimate blend of luxury and comfort; spacious living area, featuring soaring vaulted ceilings with beautiful wood beams and a unique bar under staircase. The open concept kitchen with brand new stainless steel appliances and waterfall countertops with over hang. Bathrooms have been remodeled to offer modern convenience and style with led mirrors and freestanding tub. Upstairs' master is spacious offering a view of Camelback mountain and also has a private outdoor patio. The community features a heated pool, spa, work out facility and club house for your enjoyment. Close to 5-star dining, shopping & entertainment.

View Property

7800 S Big Bug Mesa Road Prescott, AZ 86303

$895,000

4 Beds

3 Baths

3,635 SqFt

Status Active

MLS # 6722671

Property Type Single Family Residence

Price Type --

Enjoy the cool mountain breeze while sitting on the deck of this large 3,635SF, 4 bed, 3 bath home. Upgraded and elegant. Views for miles. Located in the forest, on 2 acres in the Upper Big Bug area, on Big Bug Mesa Road, with a keypad locked gate. Appraised at $1,075,000. Top floor has the primary bedroom, bath, sitting room, & private office. Main floor has kitchen, large dining area, guest bed & bath, & laundry room, with a large living room and a fireplace. Lower floor is 2 more bedrooms, a game room, bathroom, & more storage. Plenty of room for guests. Plenty of storage. A garage for toys, and a work shed for tools. Perfect for a weekend retreat. Feels like you're a million miles away, but only 23 minutes to Costco. Watch the video. Search YouTube for the address

View Property

28631 N 66th Avenue Phoenix, AZ 85083

$895,000

5 Beds

4 Baths

3,173 SqFt

Status Active Under Contract

MLS # 6716622

Property Type Single Family Residence

Price Type --

Imagine the perfect home for all stages of life! This sprawling single-level retreat offers 4 beds & 3 baths in main home AND 1 full bed and bath in the separate guest suite. Great room & large kitchen island for gathering. Multi gen suite with kitchen, living, bed/bath, laundry, private shaded patio & garage.Enjoy extremely low energy costs w/ OWNED Tesla solar with 3 battery backups! Solar shades and wood shutters enhance energy efficiency, and 3 EV outlets. Retreat to your Sparkling pool w/ mountain views, travertine deck & gas fire feature. Inside, find luxury living w/upgraded kitchen & baths featuring stainless appliances, wood shutters, cool tile floors throughout and primary super shower.This is a Lennar Smart home with MyQ garage openers, smart locks at entry, Wifi access points.

View Property

4760 W Mountain Hollow Loop Show Low, AZ 85901

$895,000

3 Beds

2 Baths

2,552 SqFt

Status Active

MLS # 6748773

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This beautiful 3-bedroom property with massive bonus room above garage offers a perfect blend of comfort and convenience. Here are some of its standout features! Spacious open concept cathedral main living area. Real stone hearth with programmable thermostat pellet stove. Don't like the pellet stove then swap out for a natural gas fireplace as gas line is already there. Custom soft close cabinets throughout entire house (even the laundry room) with quartz counters and all lower kitchen cabinets with pull out shelves. Laundry room also include a full-sized upright freezer. With three generously sized bedrooms, there's plenty of room for family, guests, or even a home office. Large master on sweet with massive full ceramic double shower, double sinks, heated ceramic floors with programmable thermostat, very large soaking tub and huge custom designed walk-in closet. Guest bathroom is also a well-appointed designed with modern fixtures and finishes for your comfort and convenience including ceramic shower around the tub. Huge bonus room above garage could have many uses: home office, arts and crafts room, extra sleeping quarters, movie room, near endless possibilities). Expansive 3-Car Garage with space for work shop area and two large heavy duty storage racks. The garage ceiling is over 11ft permitting room for a car lift. Whether you have multiple vehicles, boat, UTV or need extra storage space, the extra-large three-car garage has you covered. Outside paver RV parking with full hook-ups and 50 Amp receptacle. Traveling enthusiasts will love the dedicated RV parking space making it easy to hit the road at a moment's notice. This home is perfect for those who value comfort, space and functionality. Then step outside to the front or back porch and enjoy your wine or coffee while watching the sun rise and sun set. Out back is a gas grill converted to natural gas (no more lugging propane bottles) and a natural gas fire ring perfect for those cool or winter evenings. Just off the back porch is a paver patio with power cabling under the house waiting for you to add your hot tub. For your safety and security along with a fire hydrant in the front yard, this house also has a complete automatic security system with motion sensors, live and recorded video, and smoke, fire, CO2 and crawl space freeze warning sensors. HVAC is a split system so you can control both floors to your comfort. Also remember that most of the furniture is also available outside of escrow. Just look at those powered recliners!!!! Be warned if you see it you will want to buy it. Home is nestled on TWO lots that have been combined offering additional privacy between neighbors and creates more of an estate feel

View Property

7725 E Portland Street Scottsdale, AZ 85257

$895,000

5 Beds

3 Baths

2,910 SqFt

Status Active

MLS # 6741279

Property Type Single Family Residence

Price Type --

Experience the epitome of comfort and functionality in this true 5-bedroom, 3-bathroom home with new roof, paint, AC and pool and boasting a spacious remodeled kitchen that is perfect for culinary enthusiasts. Situated on a tranquil cul-de-sac, the property features a pool for refreshing dips and two separate air-conditioned buildings that can serve as offices, studios, or serene yoga spaces. Enjoy ultimate privacy with a backyard that overlooks a peaceful greenbelt park with direct access, ideal for cozy evenings around the fire pit after a swim. Wired for security and equipped with cutting-edge technology, this home offers an open floor plan that exudes brightness and airiness throughout. Discover your new oasis today!

View Property

17380 W Carlisle Drive Surprise, AZ 85388

$894,995

2 Beds

3.5 Baths

2,730 SqFt

Status Active

MLS # 6647058

Property Type Single Family Residence

Price Type --

If your looking for that special home with a Casita this Calistoga has it. Located in Active Adult neighborhood, a separate entry has a bedroom, bath with tile throughout and walk-in closet to give your guest that private space they can enjoy. The main home has vaulted ceilings with a contrasting beam and two tone paint to give added warmest with the 20' multi slider going to the oversized patio for entertaining. The kitchen is expansive with gourmet stainless steel gas appliances and a customize backsplash which accentuates the elegance of this space. Primary bedroom has soffit ceilings and primary bath modern concrete tile that gives a spa like environment. Den has French doors for use as an office, crafting room , or hobby room. The possibilities are with this extraordinary home.

View Property

26421 N 19th Drive Phoenix, AZ 85085

$894,990

3 Beds

2.5 Baths

2,392 SqFt

Status Active

MLS # 6680538

Property Type Single Family Residence

Price Type --

Reap the luxury & convenience of this incredible location in this gorgeous, BRAND NEW, single level home in amenity-rich Union Park. With 3 full beds, 2.5 baths, study and 3 car garage, this home provides the space needed to entertain family and friends as well as the perfect place for a cozy night alone with a good book. Designer appointed plank tile flooring, accent lighting, GE stainless appliances, 2-tone shaker cabinets & upgraded quartz countertops shine in both the chef's kitchen while the owner's bath also includes upgraded surfaces from floor to ceiling...WOW! Abundant natural light thru large, picturesque windows highlight 10' flat ceilings & open sightlines throughout. Like to shop? Tremendous closet space & storage. 2x6 construction; extensive new home warranty

View Property

1930 W Holden Drive Phoenix, AZ 85085

$894,990

4 Beds

3 Baths

2,576 SqFt

Status Active

MLS # 6681780

Property Type Single Family Residence

Price Type --

With 4 beds, 3 baths, retreat, study and 2 car garage, this home provides the space needed to entertain family and friends as well as the perfect place for a cozy night alone with a good book. Designer appointed 6''x 36'' plank tile flooring, accent lighting, GE stainless appliances w/built in refrigerator, white shaker cabinets & upgraded quartz countertops shine in the chef's kitchen while the owner's bath also includes quartz tops & upgraded surfaces from floor to ceiling...WOW! Large, picturesque windows, 8' doors, 12' sliding glass door 10-12'' flat ceilings & open sightlines. Like to shop? Tremendous closet space & storage; 2X6 CONSTRUCTION; Extensive new home warranty.

View Property

24340 W Morning Vista Lane Wittmann, AZ 85361

$894,500

4 Beds

2 Baths

2,140 SqFt

Status Active

MLS # 6725301

Property Type Single Family Residence

Price Type --

Country living in this exquisite Equestrian Custom Home at Patton Place. Mountain views for miles & incredible desert sunsets as the backdrop. This is a single level 4 bedroom, 2 bath home w 3 car garage situated on a well sized 1 acre lot! Inside this dreamy home is tile or lush flooring, custom paint, high end window coverings, ceiling fans & lighting. Through the RV gate you'll find the show stopper, a master planned yard w turf, pavers, arbor, concrete pad, wooden deck & a full outdoor kitchen w running water, electric & propane. Beyond the vinyl veranda fencing is the horse area complete w round pen, tack room, showering station & stalls w auto water and electric! This home has so much more to offer! Come see soon!

View Property

6825 N 3rd Place Phoenix, AZ 85012

$894,500

2 Beds

2 Baths

2,590 SqFt

Status Active

MLS # 6756535

Property Type Single Family Residence

Price Type --

This beautifully updated patio home is in the heart of North Central Phoenix, situated in the coveted, gated Villa Tercera community. The layout is bright and open and combines modern style with a warm, vibrate atmosphere. The kitchen is a true standout, featuring stainless steel appliances, elegant countertops, and plenty of cabinet space. The interior features an informal family room, formal living room, formal dining room, an air conditioned sun room and private office. Enjoy the private and serene outdoor space, featuring a private pool/hot tub, multiple seating areas, and the bonus of a private, air conditioned studio. This property is perfect for entertaining and can accommodate both large and small gatherings. Close to fantastic dining, shopping, and outdoor activities.

View Property