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

19026 E Carriage Way Queen Creek, AZ 85142

$785,000

3 Beds

2.5 Baths

2,516 SqFt

Status Active

MLS # 6756751

Property Type Single Family Residence

Price Type --

Model perfect 3 bedroom+ den/hobby room single level home with 3 car garage is gorgeous! The impressive custom iron entry door opens for you to see the pool views leading you into an expansive light & bright interior. Upgrades galore from neutral wood-look 112x46'' tile flooring, formal dining area, recessed lighting to the wall of glass looking out to the sparkling heated pool. This entertainer's dream offers expresso cabinets, crown molding, tile backsplash, granite counters, butler pantry, double wall oven, SS appliances, wine fridge & center island with breakfast bar. Main retreat , dual sinks & spacious walk in closet. Spend relaxing days enjoying the backyard with covered patio, oversized salt pool, no back neighbors! Seller willing to contribute to buyer concessions w strong offer Tranquility awaits in the serene backyard, showcasing a covered patio, artificial turf, & a shimmering pool ready to provide hours of fun & relief from the summer heat. Don't let this great opportunity pass you by!

View Property

20802 N Grayhawk Drive Unit 1104 Scottsdale, AZ 85255

$785,000

3 Beds

2 Baths

1,954 SqFt

Status Active

MLS # 6725030

Property Type Townhouse

Price Type --

Welcome to the guard-gated Avian at Grayhawk, where this one-of-a-kind end unit awaits you! Providing 3 beds, 2 baths, & a 2-car garage. Fabulous interior showcases plantation shutters, tall ceilings, designer paint, and tasteful flooring - tile & soft carpet. You'll love the two-way fireplace, shared by the inviting living & dining areas! The impressive kitchen boasts a tray ceiling, SS appliances, granite counters, ample wood cabinetry, and an island w/breakfast bar. Main bedroom has an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Secondary bedrooms also feature a walk-in closet. Let's not forget the private covered patio w/built-in BBQ, a great spot to relax while enjoying the neighborhood's tranquility! Take advantage of the fantastic Community amenities. Act now!

View Property

1226 E Monte Cristo Avenue Phoenix, AZ 85022

$785,000

3 Beds

2 Baths

2,394 SqFt

Status Active

MLS # 6756385

Property Type Single Family Residence

Price Type --

Stunning single-level 3 bed plus den home in Moon Valley Canyon! Sitting on an 11,677 sq ft lot at the base of Lookout Mountain & Phoenix Preserve, this serene home offers peaceful desert & lush grass landscaping on a quiet cul-de-sac. 1 year Lennox AC, 8 yo York AC, 2024 Interior & Exterior Paint, 4 Year Roof. Soaring ceilings, a bright open kitchen & great room with a fun open bar area for entertaining. The private backyard has a sparkling pool, grassy area, 2-person spa, large covered patio and meticulously maintained landscaping. Louver style shutters, BBQ, outdoor fridge bench with storage. Centrally located near freeways, shopping, and dining, Moon Valley Country Club, Pointe Tapatio Resort, Lookout Mountain Golf, & Gold Key Raquet Club. Minutes from TSMC, Desert Ridge & Downtown

View Property

15056 N 102nd Street Scottsdale, AZ 85255

$785,000

4 Beds

2.5 Baths

2,197 SqFt

Status Active

MLS # 6750993

Property Type Single Family Residence

Price Type --

Beautiful two-story home for sale! Fall in love with the desert landscaping and the sweet curb appeal. Discover a welcoming living/dining room, high vaulted ceilings, custom paint finishes, soft carpet in the right areas, fire sprinklers, and a cozy family room for intimate gatherings. The eat-in kitchen includes stainless steel appliances, maple cabinets, an island with a breakfast bar, and quartz counters. Upstairs, you'll find a bright loft with access to a balcony! Retreat to the main suite to find a bathroom boasting dual sinks, a glass enclosure shower with dual shower heads, and a walk-in closet. The backyard has a built-in BBQ, fire pit area, covered patio, shade trees, and grass area. This home is sure to sell fast!

View Property

20132 W Colter Street Litchfield Park, AZ 85340

$785,000

3 Beds

3 Baths

2,823 SqFt

Status Active

MLS # 6703854

Property Type Single Family Residence

Price Type --

This custom home with mountain and city views located in Beautiful Arizona Estates. Situated on a generous 1.29 acre lot, providing ample space for outdoor activities w/horse privileges. Natural landscape, front and back. Ample parking, plus a horseshoe driveway. Oversized 3-car garage, (garage has shower and sink). Inspired by an award winning floor-plan, this features 3 large bedrooms and a spacious den with curved window bench. Great room with firelplace (plumbed for propane). A covered patio and fenced front courtyard are ideal spaces for outdoor dining or simply relaxing while enjoying the stunning mountain views. In addition, the property includes a tough shed for extra storage or workspace. Close to local parks, shopping centers, and dining options.

View Property

1410 E Boston Street Gilbert, AZ 85295

$785,000

5 Beds

3.5 Baths

3,432 SqFt

Status Active

MLS # 6736704

Property Type Single Family Residence

Price Type --

Best nice and quiet Spectrum community with a lot of green belts. 5 bedrooms plus loft. New carpet, new paint both inside and outside wall. Kitchen island, Large private pool, extended covered patio. Walking distance to elementary school, around community, there are big shopping centers, Santan Valley big mall, a lot of restaurants, hospital. close to 202 free way.

View Property

5874 E Reavis Street Apache Junction, AZ 85119

$785,000

4 Beds

2.5 Baths

2,531 SqFt

Status Active

MLS # 6750899

Property Type Single Family Residence

Price Type --

With some of the most beautiful views of the Superstition Mountains in the Valley, this home is ''the one''! And the location is AMAZING: within a mile of Lost Dutchman State Park & well-known hiking trails like: Broadway's Cave, Flatiron, Weaver's Needle! Did I mention the location...less than 30 minutes to Canyon Lake...and if you love to go off roading you are going to love living here! This single-story home offers a split floorplan with 3 bedrooms, den/office, & 2.5 bathrooms! The living space is the center of the home featuring a large open concept kitchen, huge dining area & well sized family room w/fireplace! Walking into the kitchen is like a chef's dream: kitchen island, Quartzsite countertops, stainless steel appliances including a double oven & the refrigerator is included! The primary suite is huge w/a gorgeous two sink bathroom, custom walk-in shower, soaking tub & walk in closet! The vaulted ceilings & windows throughout the home bring natural light in & allow for views of the beautifully landscaped yard in every room! Sitting in the fully fenced front yard you will enjoy not only views of the Superstitions but peace & quiet while being just minutes from city amenities! Recent upgrades include but not limited to both HVAC units 2020, backyard fully fenced 2021, RV gate w/road to park your RV 2021, Quartzsite kitchen 2023, canned lights throughout living area 2021, rolled roofing (2021), refer to Upgrade List for more information.

View Property

717 W El Camino Drive Phoenix, AZ 85021

$785,000

3 Beds

2.5 Baths

2,114 SqFt

Status Active Under Contract

MLS # 6721233

Property Type Single Family Residence

Price Type --

Welcome to 717 W El Camino Drive, located in highly sought-after North Central Phoenix. This stunning 3 bed/2.5 bathroom property, set on a spacious one-third acre lot, offers a blend of modern updates and timeless charm. Enjoy peace of mind with a brand-new roof installed in July 2024 and recently updated sewer lines. The open floor plan seamlessly connects the living, dining, and kitchen areas, perfect for entertaining and family gatherings. Beautiful hardwood floors add warmth and elegance, while a charming wood-burning fireplace offers a cozy spot during cooler Arizona evenings. The home features an oversized primary suite with direct access to the back patio. Step outside to your private oasis featuring lush citrus trees and a diving pool. With ample storage throughout, a large lot and a prime location, this home offers the opportunity to further customize and enhance it to fit your style and needs.

View Property

4590 Fletcher Court Wickenburg, AZ 85390

$785,000

2 Beds

2.5 Baths

2,109 SqFt

Status Active

MLS # 6738238

Property Type Single Family Residence

Price Type --

You have to see this Home! This highly desirable Brasada model located in the Premier Golf Community of Wickenburg Ranch is packed with impressive upgrades & designer features. This luxurious home is an entertainers dream. Positioned high on a cul-de-sac lot with breathtaking views. You will enjoy the Mountain View's from every room of this home! Easy care landscape leaves you time to do all the fun activities that WR has to offer. Beautiful gourmet kitchen with a butler's pantry is just the beginning. It all starts with a grand entry leading you to the great room with a glass wall of doors that opens to the outdoor living space. The outdoor area features electric shades that will enclose this area completely. Remote controlled window treatments continue throughout the home. The additional living space includes a Den, an office space off of the kitchen, huge laundry area with additional storage, a custom built primary closet & stunning spa-like bath. The garage offers built in storage & is climate controlled with a mini split A/C. You will also enjoy the whole house water filtration system, upgraded appliances, incredible granite countertops and designer lighting throughout out this gorgeous home.

View Property

859 E Oakland Street Gilbert, AZ 85295

$785,000

5 Beds

3 Baths

3,348 SqFt

Status Active

MLS # 6756986

Property Type Single Family Residence

Price Type --

Great home in the heart of Gilbert!! Close to EVERYTHING!!! Schools, San Tan Mall, Shopping, restaurants, Movies, Parks and Freeway!! Talk about Location, Location, Location!!! Great floor plan with plenty of room for entertaining and gathering!! Updated kitchen with quartz countertops that boast lots of counter space, kitchen overlooks large family room! Former Living room with formal dining that has french doors that can be used for Office/Den! Huge enclosed bonus room over the garage! Large Master bedroom with 2 closets! Great backyard with RV gate and concrete pad on side of yard, refreshing play pool with plenty of room in the grass yard and fire pit! AC units, Water heater, and pool pump all newer that 3 years! Natural gas water heater, home heater & fireplace! This home is so Clean and ready for a great new owner!! Great area and great neighborhood!!

View Property

2506 E Bridgeport Parkway Gilbert, AZ 85295

$785,000

5 Beds

4 Baths

3,436 SqFt

Status Active

MLS # 6711000

Property Type Single Family Residence

Price Type --

Beautiful 5 bed, 4 bath home with a private heated pool, an extended patio and nice size yard. The spacious floor plan offers a large combo kitchen/family room, separate combo formal dining/living room, a loft sitting area, a designated homework area and a roomy mother-in law suite with walk in closet. The huge primary suite includes dual walk in closets, a soaking tub and walk in shower. Loads of storage throughout and beautiful neutral decor. The lush green community is a quick commute to the 202 for great valley wide access. Near San Tan Village Market Place, Williams Gateway Airport, Mercy Gilbert Medical Center, loads of shopping, restaurants and entertainment, the new Gilbert Regional Park

View Property

5101 W Whispering Wind Drive Glendale, AZ 85310

$785,000

4 Beds

3.5 Baths

2,436 SqFt

Status Active

MLS # 6722446

Property Type Single Family Residence

Price Type --

Over an acre and No HOA! Beautiful North Glendale Oasis nestled in this community of custom homes with a stunning mountain backdrop! Imagine your family enjoying life with room to roam on this acre plus property! Room for all the toys. Over 2400SF of living space, not including the 1100SF shop/party room/guest house, adjacent to the pool area with outdoor kitchen and bathroom! The home includes 4 bedrooms and an office/den space that could be used as a 5th bedroom, plus 3 baths. One of the bedrooms and baths in on the main floor, perfect for guests. There is a wood burning fireplace in the family room and a huge balcony off the primary where you can take in the views! The back half of the property offers a convenient entrance off 51st Ave. So much potential, perfect the way it is

View Property