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 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+

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

6713 N 10th Street Phoenix, AZ 85014

$899,995

5 Beds

3 Baths

2,552 SqFt

Status Active

MLS # 6770413

Property Type Single Family Residence

Price Type --

Your fully renovated desert oasis awaits featuring 5 bedrooms & 3 bathrooms in the desirable Madison School District. Kitchen boasts new shaker cabinets w/ soft close, quartz countertops, island, tile backsplash & stainless steel appliances. Family boasts cozy fireplace w/ accent wall. Two masters or one could be casita/mother-in-law suit w/ separate exit. Primary master bath features dual vanity, separate shower & stand alone tub w/ gorgeous finishes. Backyard is very serene & private w/ newly finished tile pool to make you feel like you are at a resort! New roof, new dual pane windows, new sewer, new electrical panel & wiring. All new doors, baseboards & hardware. See further updates in pics. New gates. No HOA.

View Property

22842 E Via Las Brisas Valley Queen Creek, AZ 85142

$899,990

5 Beds

3.5 Baths

3,471 SqFt

Status Active

MLS # 6770364

Property Type Single Family Residence

Price Type --

You're going to want to see this newly built home in the highly sought-after community of Meridian! This single story 5 bedroom 3.5 bath home spans 3,470 square feet of a spacious floor plan situated on a premium north and south facing lot. With a perfect balance of luxury and functionality, this home is ideal for hosting. Experience the 10-foot ceilings grow to 12-foot ceilings in the great room. Gas range, double ovens, quartz countertops with a waterfall island, soft-close drawers, and an incredible amount of cabinet space make this a culinary wonderland! The wood-looking tile extends throughout the main living spaces and hallways of the home. You're going to want to see this newly built home in the highly sought-after community of Meridian! This single story 5 bedroom 3.5 bath home spans 3,470 square feet of a spacious floor plan situated on a premium north and south facing lot. With a perfect balance of luxury and functionality, this home is ideal for hosting. Experience the 10-foot ceilings grow to 12-foot ceilings in the great room. Gas range, double ovens, quartz countertops with a waterfall island, soft-close drawers, and an incredible amount of cabinet space make this a culinary wonderland! The wood-looking tile extends throughout the main living spaces and hallways of the home. Escape to the master bedroom that has a door leading to the backyard as well as an en-suite with his and her vanities, an elegant soaking tub, beautifully tiled walk-in shower, and vast walk-in closet. Secondary bedrooms are generously sized and comfortably equipped with carpet for a more homey feel. The 5th bedroom is tiled and perfect for an office space or guest room that comes with its own bathroom and an oversized walk-in closet. The backyard boasts a large covered patio and is plumbed for gas ready for your brand new outdoor kitchen. The lush landscape comes with a drip system, sprinkler system, fruit trees, and real grass! The best backyard bonus is that there are no neighbors behind! Let's not forget a 4 CAR GARAGE protected with a polyaspartic floor coating that's more durable than epoxy! This home is tucked back in the last street of the neighborhood, which makes for a peaceful retreat. The master community has a multitude of possibilities for outdoor enjoyment with family and/or pets. The neighborhood offers various parks, walking trails, a community pool, and a top-rated elementary school. Shopping and dining is just minutes away in the popular Town of Queen Creek and quick access to the SR24 is a straight shot up Signal Butte Road. This is truly a wise investment in a great community and prime location. Come and tour your dream home!

View Property

5265 E Karen Drive Scottsdale, AZ 85254

$899,990

4 Beds

2 Baths

2,068 SqFt

Status Active Under Contract

MLS # 6766727

Property Type Single Family Residence

Price Type --

This modern remodel is in a fantastic location in 85254! Step through the welcoming front courtyard into a light and bright space with wood-look tile floors flowing throughout. Kitchen includes stainless steel appliances, quartz countertops, breakfast bar and walk-in pantry. Tranquil Master suite with stand-alone soaking tub and separate glass shower. Relax or entertain in the resort style backyard with covered patio, saltwater pool, and built-in BBQ. Additional features included owned solar, stunning fireplace, easy to maintain landscaping, no HOA, and located just minutes from freeways, shopping, golf, restaurants, Mayo, and more!

View Property

32778 N 132nd Lane Peoria, AZ 85383

$899,990

3 Beds

3.5 Baths

2,840 SqFt

Status Active

MLS # 6663036

Property Type Single Family Residence

Price Type --

odern bright home with 3 large ensuite bedrooms, 3.5 baths plus a study and 4-car garage offers both beauty & energy-efficiency. Enjoy Saturday morning breakfast or Friday night entertaining in this beautiful gourmet kitchen complete with stainless GE appliances, a modern tile backsplash, an oversized island, classic white and gray shaker cabinets, accent lighting, an abundance of storage and huge walk-in pantry. With 10' flat ceilings, 8' doors & large, picturesque windows, this open plan is nothing short of perfection. Owner's retreat with spa-like bath featuring quartz tops, huge walk-in tiled super shower and oversized walk-in closet. Two tone paint, 8''x 32'' plank tile flooring and upgraded carpet throughout. Quality 2 x 6 construction & extensive new home warranty.

View Property

4633 N 127th Drive Litchfield Park, AZ 85340

$899,983

5 Beds

3.5 Baths

4,011 SqFt

Status Active

MLS # 6726517

Property Type Single Family Residence

Price Type --

This is an amazing opportunity to live the active luxury lifestyle in this fabulous home located within the GATED Vintage Subdivision of Wigwam South, Litchfield Park. This gorgeous, remodeled Fulton Bordeaux, 5 bedroom with office model is very special with over $170K in upgrades. Upon entering you will fall in love with the gorgeous tile flooring, open great room, gas fireplace & GOURMET CHEF'S KITCHEN featuring all-new, soft close custom wood cabinets/lighting, granite counter tops, stylish backsplash, an oversized granite middle island, 3 pantries and lots of storage throughout the home. With over 4,000 sq. ft. which includes a fully FINISHED BASEMENT, adding to the meticulously designed living space, there is lots of room for great comfort and extravagant living. FULLY PAID SOLAR

View Property

26008 N 149th Drive Surprise, AZ 85387

$899,950

3 Beds

3.5 Baths

2,995 SqFt

Status Active

MLS # 6770909

Property Type Single Family Residence

Price Type --

Beautiful! Brand new custom spec home on 1 acre lot. HUGE DOUBLE RV garage (21'6''x 46'') plus oversized 2 car garage (23'6''x26). Spectacular great room with 12ft ceilings. The gourmet kitchen boasts upgraded granite, high-end cabinets, upgraded GE Profile stainless appliances, large island & custom tile. Master suite includes an impressive walk-in shower, free-standing tub, dual sinks, huge closet & sep. exit. All baths include granite tops, custom tile work & surrounds. Open floor plan features a guest wing with an optional separate entrance. Energy efficient dual-zoned HVAC system & 400 amp electrical panel. Buyer still has time to select some finishes.

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

2791 W Sunbeam Lane Queen Creek, AZ 85142

$899,900

4 Beds

4 Baths

2,890 SqFt

Status Active Under Contract

MLS # 6728710

Property Type Single Family Residence

Price Type --

New Construction just completed 4 BED 4 BATH 4 CAR GARAGE with in Law Suite on an 1.25 ACRE LOT with NO HOA! Spacious great room plan with gourmet kitchen, White Cabinets, wall oven/microwave combo, Induction cooktop, Stainless Vent hood, custom quartz counters. Master suite has it all!! Private porch access, dual vanities, separate tub and shower. Large South Facing patio for shade all day. Huge walk-in closet. Four bedrooms / 4 full baths with amazing views of the mountains. Over sized bedrooms with can lights and ceiling fans in every room. Large laundry room with counters and cabinets and access to primary closet. Oversized 4 car garage. Front Yard Landscaping Included with Block Fence Back Yard on Paved Rd. NO HOA!

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

10150 E Talon Avenue Mesa, AZ 85212

$899,900

6 Beds

4.5 Baths

3,287 SqFt

Status Active

MLS # 6762507

Property Type Single Family Residence

Price Type --

Welcome to this stunning 3,287 sq ft home situated on an upgraded lot within the desirable Cadence community. As you step inside, you'll be greeted by luxury vinyl plank flooring throughout the first floor and a striking black metal railing leading up the stairs. The gourmet kitchen is a true showstopper, featuring ceiling-height cabinets, quartz countertops with a matching backsplash, a farmhouse sink, a sleek black faucet, modern black pendant lighting, and an extended two-tone island that makes a bold statement. The living room offers seamless indoor-outdoor living with a full wall slider, perfect for entertaining. The first-floor primary suite boasts ample natural light, no carpet, surround sound speakers, and its own full wall slider to the backyard. The ensuite bathroom has been upgraded with dual sinks, a rainfall showerhead, floor-to-ceiling tile in the shower, and a massive walk-in closet. There's also an additional ensuite bedroom on the first floor, perfect for guests. The downstairs laundry room is equipped with upper and lower cabinets, a built-in sink, and plenty of storage. Upstairs, you'll find a spacious loft with upgraded carpet and padding, along with generously sized bedrooms, some featuring walk-in closets. The backyard is an entertainer's paradise, with over $100,000 in upgrades including an extended patio, gas firepit with a gas stub, travertine pavers, a prewired TV mount, and a heated pool with a UV sanitizer. Plus, it backs up to Encore, offering mature trees and a lush green view. Additional features include a tankless water heater and a whole-home filtration system for added comfort. As part of the Cadence resort-like community, enjoy access to a main pool, lap pool, spa, fitness center with a yoga studio and cycling room, and a game room. Live in luxury and comfort in this meticulously designed home, and experience all the amenities Cadence has to offer. Don't miss out on making this dream home yours!

View Property

22810 N 94th Lane Peoria, AZ 85383

$899,900

4 Beds

3.5 Baths

3,640 SqFt

Status Active

MLS # 6770020

Property Type Single Family Residence

Price Type --

This stunning 4-bedroom, 4-bathroom home is situated on a desirable corner lot with RV PARKING! The floor plan offers an incredible 3,675 sqft of living space, perfect for those who crave both style and function. Interior has high ceilings, smooth tile flooring, and energy-efficient dual-pane low-E windows that bathe the home in natural light. The kitchen features a walk-in pantry, granite countertops, a large island, and both a formal dining area and a cozy breakfast room. The primary suite is conveniently located downstairs with a split layout for added privacy, featuring a double-sink bath and walk-in closet. Upstairs, all bedrooms also include walk-in closets, and a spacious loft offers flexible living space. Outdoor living is just as inviting with a front balcony and a covered back patio that overlooks a large lot and artificial grass. The community enhances your lifestyle with biking and walking paths, a playground, a clubhouse, and a pool. With an RV gate, an air-conditioned 3rd-car garage, and endless possibilities, this home is truly one-of-a-kind!

View Property

18564 W Cathedral Rock Drive Goodyear, AZ 85338

$899,900

5 Beds

4.5 Baths

3,316 SqFt

Status Active

MLS # 6767713

Property Type Single Family Residence

Price Type --

The Orion is a 3,316 square feet floor plan with 4 Bedrooms + Study + Casita, 4.5 Baths, and a 3 Car Garage. Offering a generous Master Suite, the Orion includes a large Walk-In Shower. The secondary bedrooms are designed to be on the opposing side of the home giving everyone their own space. This home also offers a gorgeous porch, courtyard, and an extended covered patio to enjoy these areas when guests are coming over. This home is ready to move in by November 2024.

View Property