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

5888 S Boulder Street Gilbert, AZ 85298

$795,020

4 Beds

3 Baths

2,795 SqFt

Status Active

MLS # 6747288

Property Type Single Family Residence

Price Type --

This beautiful new 2-story home features a gourmet kitchen with 30-inch gas cooktop, backsplash, upgraded extended kitchen island, pendent prewire above island, Della Terra Quartz in kitchen, upgraded cabinetry, 8 ft. slider in dining room, speaker pre-wire in great room, Spa bath with freestanding tub, double sinks at bathroom 2, upgraded bath light fixtures, soft water loop and so much more. The community has delightful amenities including a pool, spa, walking and biking paths, and more!

View Property

3245 Aspen Lane Pinetop-lakeside, AZ 85929

$795,000

2 Beds

1.5 Baths

1,278 SqFt

Status Active Under Contract

MLS # 6743284

Property Type Single Family Residence

Price Type --

On the golf course of White Mountain Country Club in guard gated White Mountain Summer Homes. 5th Fairway. .48 acres. 1278 sf. 2 bedrooms, 1.5 baths plus a spacious loft. Covered deck and uncovered balcony w/ great views of the golf course. 1 car garage was enclosed into a laundry storage area. Vaulted ceilings, interior wood ceilings, wood flooring in kitchen and hallway.

View Property

5796 Hidden Oak Drive Pinetop, AZ 85935

$795,000

3 Beds

2.5 Baths

1,893 SqFt

Status Active

MLS # 6744954

Property Type Single Family Residence

Price Type --

What is your WHY? Move out of the big city? Summer Getaway? This is it! This newer cabin is on a large cul-de-sac type lot and is professionally landscaped with lots of pines, oaks and fruit trees. Green grass, fire pit and hot tub! Covered, front and back trex patio deck. Split bedroom plan: Primary on one side, 2 guest bedrooms and bath on other side. Pine interior doors, ceiling and wainscoting. Large walk in shower with tile surround in primary bath. Guest bath has double sinks separate from tub and toilet. Granite counter tops in kitchen and baths . Stainless steel Kitchen appliances, 5 burner gas stovetop. Large breakfast bar plus a dining room. Great room has a rock, gas fireplace with wood mantle and rock hearth. Oversized 2 car insulated garage with storage or work area.

View Property

4396 E Yellowstone Place Chandler, AZ 85249

$795,000

5 Beds

4 Baths

2,585 SqFt

Status Active

MLS # 6750343

Property Type Single Family Residence

Price Type --

If you are looking for a stunning home that perfectly combines quiet and relaxation with convenience, activities and amenities, then this is the home for you. Located on an oversized corner lot in the highly sought after gated community of Finisterra, this home is just blocks away from restaurants, golf, shopping and the area's best schools. Spend time in the community's lush green parks, or just stay home and enjoy one of the most breathtaking resort style backyards you will ever see. Your choices are endless. When you pull up to this home you will immediately notice its gorgeous curb appeal, highlighted by the beautiful pavered driveway and charming courtyard. Step through the custom iron front door into this popular casita floorplan and experience the upgrades, starting with the kitchen and its 42-inch white cabinetry, granite countertops, custom backsplash and stainless-steel appliances. The great room is large, inviting, open to the kitchen and features a dual slider which connects the great room to the private, pavered courtyard, effortlessly expanding your indoor/outdoor living experience. The downstairs master retreat is spacious, and the en-suite bathroom features an oversized custom tile walk-in shower, a dual vanity, and upgraded lighting and fixtures. Upstairs, you'll find a second master bedroom with its own en-suite bathroom and walk-in closet, providing comfort and privacy for family or guests. The casita, complete with its own bathroom and huge closet, provides the perfect getaway for guests, a home office or a home gym. The centerpiece of this home is undoubtedly the resort-style backyard. No expense has been spared in creating this outdoor oasis, featuring a travertine pool deck, a custom-built sunken BBQ area, a swim-up bar, multiple lounging spaces, and an exciting built-in water slide. Whether you love to entertain or simply enjoy spending time with family in a stunning outdoor setting, this backyard has it all. This home is more than just a place to liveit's a lifestyle. Don't miss your opportunity to experience it for yourself. Schedule your tour today!

View Property

15028 W Elm Street Goodyear, AZ 85395

$795,000

6 Beds

3 Baths

4,020 SqFt

Status Active Under Contract

MLS # 6738437

Property Type Single Family Residence

Price Type --

Get ready to fall in love with this fully remodeled gem in the coveted Palm Valley neighborhood. This gorgeous home, refreshed between 2020 and 2021, offers a seamless blend of luxury and practicality. With 6 generous bedrooms—including 2 conveniently situated on the main level—and 3 modernized bathrooms, this home provides the perfect space for both comfortable living and great entertaining. The heart of the home is a truly gourmet kitchen featuring custom cabinetry, an impressive 11-foot island, and top-of-the-line Viking appliances. The interior showcases stylish wood plank tile flooring and custom plantation shutters that add a touch of sophistication throughout. A few recent upgrades include a newer roof, fresh interior and exterior paint, and beautifully remodeled bathrooms. The property also boasts a high-quality water softener system, ensuring convenience and comfort for everyday living. The expansive lot is designed for enjoyment, featuring a stunning pool surrounded by lush landscaping. Two large pergolas enhance the outdoor entertaining experience, offering ample space for gatherings and relaxation. A three-car garage with an RV gate adds practicality and ample storage space. This is the one-of-a-kind, hard-to-find beautiful home you've been searching for. With its thoughtful floor plan and exceptional features, this move-in-ready residence in Palm Valley is a true sanctuary. Don't miss your chance to make this hard-to-find property your own!

View Property

26747 N 127th Drive Peoria, AZ 85383

$795,000

2 Beds

2 Baths

2,141 SqFt

Status Active

MLS # 6744483

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite property boasts meticulous upkeep and a series of luxurious updates designed for both comfort and elegance. As you approach, you'll be greeted by a charming front courtyard, ideal for welcoming guests and setting the tone for the exceptional experiences to come. Step inside to discover a gourmet kitchen that is a chef's paradise. It features the Birchfield Touch-less faucet, and granite countertops, complemented by upgraded cabinets and top-of-the-line stainless steel appliances. The study boasts the custom Darby Silhouette Deluxe Electric Wine Coolers as well as ample space for an office or bedroom. The master suite is a serene retreat, offering a spacious bedroom with new carpet and a lavish bath. Enjoy the convenience of a walk-in closet and the privacy of a well-designed suite. Outside, the private backyard is an entertainer's haven. Dive into the heated pool or unwind in the spa, both sheltered by a privacy trellis. The outdoor kitchen, complete with a remote control awning, ensures you can host gatherings in style regardless of the weather. The amplified lot landscaping includes lush fruit trees, enhancing the beauty and utility of your outdoor space. Every detail of this home has been thoughtfully designed to provide comfort, style, and functionality. Don't miss the opportunity to make this stunning property your own.

View Property

510 Osprey Trail Prescott, AZ 86301

$795,000

3 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6563341

Property Type Townhouse

Price Type --

'Top of the World'' views from this high-end townhome with NEWLY DESIGNED floor plan! Main level living with Great room, corner fireplace with view windows above, large trex deck with 3 piece sliding patio door for more views, views, views! Enjoy your kitchen with pantry with tile floors, wood cabinetry, granite tops and stainless appliances. Love the master suite with walk-in closet, double vanity, garden tub and separate shower. Level driveway and two car garage. Below, you will find the rec room/office/family room and guest quarters. Peregrine Townhomes... your Point of View!!! The photos associated with the listing are from a similar model. Finishes and upgrades may vary.

View Property

2405 E Fairmount Avenue Phoenix, AZ 85016

$795,000

2 Beds

1 Bath

1,374 SqFt

Status Active

MLS # 6700790

Property Type Single Family Residence

Price Type --

Located in the Biltmore Corridor, 2405 E Farimount Ave offers an exceptional opportunity to acquire a home ready to be converted to commercial property, on the busy 24th Street. The subject property is located right off 24th Street and Indian School, under a mile from the SR-51, allowing for quick access to Midtown, Downtown, and Tempe. This home can be converted to office or medical office space. The 3,600 SF building next door at 4001 E Fairmount Ave is also available!

View Property

2001 W Thumb Butte Road Prescott, AZ 86305

$795,000

3 Beds

2 Baths

1,725 SqFt

Status Active

MLS # 6755561

Property Type Single Family Residence

Price Type --

Behold the one-of-a-kind masterpiece, affectionately known as Foxbriar. Here, artistry and craftsmanship come together in an assemblage of stone, wood, and carefully curated artifacts. The property boasts an open air, detached vinery that can deliver the ultimate outdoor dining experience. Alternatively, let your entrepreneurial spirit shine and transform this versatile space into a shop or studio. With storage galore above the garage, you'll have the space you need to keep your treasures organized. Picturesque Thumb Butte sits prominently in your view - a popular area to hike, bike and explore Prescott National Forest. All this, just minutes from shopping, restaurants, hospital and schools.

View Property

18364 N Diamond Drive Surprise, AZ 85374

New

$795,000

2 Beds

2 Baths

2,474 SqFt

Status Active

MLS # 6762607

Property Type Single Family Residence

Price Type --

AS YOU ENTER THIS BEAUTIFUL WINDROSE ll. THE SENSATIONAL VIEWS OF THE 5TH GREEN OF GRANITE FALLS NORTH, THE MOUNTAINS & THE WATER ARE WOW! THIS HOME HAS IT ALL! FAUX STONE FRONT, NEUTRAL 18'' TILE & CARPET IN ALL THE RIGHT PLACES,,CENTRAL VAC , PLANTATION SHUTTERS T/O' ALL NEW WINDOWS, SURROUND SOUND, KITCHEN BOASTS GRANITE & SS APPLIANCES NEW IN 2018., NEW HVAC, NEW PVC IRRIGATION, LOVELY EXTENDED PATIO WITH AWNING & DROP SHADE. BUILT IN BBQ, GAS FIRE PIT, NEW ROOF, THE LIST GOES ON & ON THIS IS THE HOME OF YOUR DREAMS! THE 3 CAR GARAGE IS A HUGE PLUS. ALL FURNISHINGS ARE AVAILABLE AT NO COST TO BUYER!

View Property

15618 N 54th Place Scottsdale, AZ 85254

$795,000

4 Beds

2 Baths

2,219 SqFt

Status Active

MLS # 6762933

Property Type Single Family Residence

Price Type --

Discover your dream home in the heart of Scottsdale. This meticulously maintained home offers the perfect blend of comfort and convenience. With multiple living & dining areas, this home provides ample space for indoor and outdoor living & entertaining. Enjoy your private lush yard with a covered patio - perfect for those warm Arizona evenings. A beautiful park with sports fields & playgrounds is down the block - ideal for active families or those who enjoy a leisurely stroll. In a prime location between the 51 & 101, you'll enjoy easy access to the best of Scottsdale & Phoenix. See the Upgrades list in the docs tab to appreciate all of the pride in ownership.

View Property

12625 N Saguaro Boulevard Unit 204 Fountain Hills, AZ 85268

$795,000

2 Beds

2.5 Baths

1,830 SqFt

Status Active

MLS # 6756682

Property Type Apartment

Price Type --

You've Found The Home of Your Dreams! This luxury condo loft has a magnificent view of the world famous Fountain Hills Fountain & breathtaking mountain views! The gourmet kitchen has gorgeous staggered cabinetry, stainless steel appliances & gas cooktop. Bright spacious living room has 12ft ceilings and a double fireplace to the balcony. Solid wood doors, Brazilian hardwood floors. You will Love the two large primary suits, custom closets, beautifully adorned bath has a large shower & jetted tub. Three balconies. Property features stunning secure, iron entry with visual intercom, elevator, fitness room, gated, 2 car secure underground parking, private storage. A perfect lock-n-leave property situated in an Exclusive 11 unit complex. Near to shopping and entertainment.

View Property