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

2501 E Campbell Avenue Phoenix, AZ 85016

$765,000

4 Beds

2 Baths

2,031 SqFt

Status Active

MLS # 6712418

Property Type Single Family Residence

Price Type --

Location! Location! Location! this amazingly renovated Split floor 4b 2b with Camelback Mountain Views is in the most sought after Biltmore area, minutes walk to Biltmore Fashion Park, shopping, restaurants, coffee shops, freeways, hospitals, downtown. Renovated with high end materials, pergo flooring, marble, counters, and lights. New plumbing Main line, New sewer lines, New ac Ducting, New electric RV gate, Too many to list. Huge potential corner lot with tons of backyard space to build a casita! Priced Low for quick sale. A very unique Gem, BE the first to claim this art piece, must see for yourself, won't last, send offers NOW! Seller willing to offer concessions to assist with buyer's closing cost.

View Property

1347 E Palo Verde Street Gilbert, AZ 85296

$765,000

5 Beds

3 Baths

3,530 SqFt

Status Active Under Contract

MLS # 6737215

Property Type Single Family Residence

Price Type --

Welcome to your dream home located in the heart of Gilbert, AZ! This stunning single-family residence offers a perfect blend of comfort, style, and convenience. Nestled in a peaceful neighborhood, this home boasts a spacious and well-maintained exterior with lush landscaping that adds to its curb appeal. As you step inside, you'll be greeted by a bright and airy open floor plan that seamlessly connects the living, dining, and kitchen areas. The kitchen is a chef's delight. The living area is designed for relaxation and entertainment, with windows that let in plenty of natural light and provide a great view of the backyard. This home offers 5 generous bedrooms and 2.5 bathrooms, including a luxurious master suite with a walk-in closet and an en-suite bathroom equipped with dual vanities, a soaking tub, and a separate shower. Each bedroom is spacious, providing plenty of room for family and guests. Moving to the crown jewel, the backyard is an unbelievable oasis with a custom pool and covered patio area ideal for outdoor dining and gatherings. The area offers a serene space for relaxation or play. It would be difficult to find another outdoor space like it in Gilbert!

View Property

21165 E Thornton Road Queen Creek, AZ 85142

$765,000

4 Beds

3 Baths

3,073 SqFt

Status Active

MLS # 6723497

Property Type Single Family Residence

Price Type --

WOW!!! $5,000 in seller concessions! This beautiful one year old, single-story Taylor Morrison Home is over 3,000 SF w/ 4 bedrooms, den, 3 baths, and a 3-car tandem garage. Great location on a huge lot! The open gathering room and casual dining flow seamlessly into the kitchen with granite, upgraded cabinets, large island and walk-in pantry. Enjoy entertaining in the formal dining room or outside on the covered travertine patio. A bedroom and full bath off the foyer is perfect for overnight guests. The spacious owner's suite overlooks the backyard and features a spa-inspired bath and large walk-in closet. The oversized sliding glass door takes you to the large backyard with no neighbors behind, grass yard, paver walk, garden boxes, RV gate and more. This is one you don't want to miss.

View Property

208 W Portland Street Unit 257 Phoenix, AZ 85003

$765,000

2 Beds

2 Baths

1,659 SqFt

Status Active

MLS # 6716506

Property Type Apartment

Price Type --

Experience the best of downtown living at Portland Place, one of the premier buildings in the area. Nestled between two parks, this rare corner unit features travertine floors throughout and NE views overlooking the Japanese Friendship Garden and Margaret T. Hance Park. The spacious, light-filled layout includes a split 2-bedroom floor plan, open island kitchen, & large living room. The wrap-around balcony offers ample room for outdoor relaxation. Amenities at Portland Place include a rooftop pool, gym, beautiful lobby, and underground parking. Located within walking distance to restaurants, coffee shops, one of the best Jazz Clubs in America, a Farmers Market, Roosevelt Row Art district, & the light rail. Portland Place offers unparalleled convenience and urban living at its finest.

View Property

39618 N Belfair Way Anthem, AZ 85086

Open House

$765,000

5 Beds

3 Baths

3,274 SqFt

Status Active

MLS # 6752683

Property Type Single Family Residence

Price Type --

From the moment you step through the entry, you'll be greeted by an expansive open layout & impressive soaring ceilings. This home exudes meticulous care & style, with flawless diagonal tile flooring, paint, plantation shutters, lighting, & fans setting a refined tone throughout. The kitchen is a highlight, with ample workspace, a huge walk-in pantry, & SS appliances, including a sleek induction stove. It opens seamlessly into the family room, making it perfect for both everyday living & entertaining. Private downstairs bedroom & bathroom offer flexibility as a home office or guest suite. All bathrooms have been refreshed & the laundry room is equipped with quartz counters, a sink, & additional cabinetry. Epoxy flooring in garage. RO and soft water system. Outside, the backyard is a true retreat, complete with a charming ramada, paver accents, ambient lighting, and low-maintenance artificial turf. The pool, updated with PebbleTec, and the travertine-surrounded spa make it the perfect spot for relaxation and fun. And, location-wise, you're in luck! This home is conveniently close to Diamond Canyon School, Liberty Bell Park, and Anthem's fantastic dog park, plus more!

View Property

6653 S Teresa Drive Chandler, AZ 85249

$764,999

4 Beds

2 Baths

2,844 SqFt

Status Active

MLS # 6689877

Property Type Single Family Residence

Price Type --

Stop the Car! This desert oasis located in the coveted 85249 zip code of sunny Chandler is an absolute dream! Nestled in one of the most premier neighborhoods in 85249, this home has been meticulously cared for throughout and features over $100K in upgrades! Wood-look tile, granite countertops, recessed lighting, and beautiful energy star appliances are just a few of the upgrades that make this home turn-key ready. On top of these interior upgrades, this home features newly installed Energy Star windows, newer AC Units, completely renovated master bathroom, and a RV space with gated access! This lot sits on over ¼ acre of land and features endless entertaining possibilities. Parties, BBQs, and more set against dazzling Arizona sunsets that can't be missed! It will not last long!

View Property

18239 N 46th Street Phoenix, AZ 85032

$764,900

4 Beds

2.5 Baths

2,641 SqFt

Status Active

MLS # 6721914

Property Type Single Family Residence

Price Type --

You don't want to miss this beautifully maintained 3 br (Loft can be converted to 4th bedroom) 2.5 ba home in a prime location! Step inside to be greeted by vaulted ceilings that create a spacious and airy ambiance. The open kitchen boasts granite countertops and stainless steel appliances. The kitchen opens to the family room that includes a fireplace and custom shelving. An inviting upstairs loft area provides additional space for relaxation or work. The backyard is an oasis, featuring a pristine pool equipped with a 1-year old variable speed pool pump, ensuring efficient and enjoyable swim sessions. With a 3-car garage, you'll have ample space for parking and take advantage of the extra storage. Conveniently located near the 101 and 51 freeways, this home offers easy access to Kirkland Commons, Desert Ridge and the Mayo Clinic, making it an ideal choice for convenience and comfort. Don't miss the opportunity to make this exceptional property your new home!

View Property

44822 N 44th Avenue Phoenix, AZ 85087

$764,514

4 Beds

3.5 Baths

2,745 SqFt

Status Active

MLS # 6708000

Property Type Single Family Residence

Price Type --

View Property

5951 E Sienna Bouquet Place Cave Creek, AZ 85331

$764,000

3 Beds

2 Baths

1,938 SqFt

Status Active

MLS # 6689729

Property Type Single Family Residence

Price Type --

Picture perfect and serene home! The arroyo behind the house adds a touch of natural beauty and tranquility, while the large primary suite offers a comfortable retreat. The open and bright living space, along with high ceilings, creates an inviting atmosphere for gatherings and relaxation. Being in a gated community adds a sense of security and exclusivity. With 1938 sq ft, there's plenty of room to spread out and enjoy the space. And the fire pit in the backyard is the perfect spot for cozy evenings under the stars. Gently lived in and ready for new owners. Community parks and playground for walks and enjoyment. The lowest priced home in Lone Mountain!

View Property

40614 N Harbour Town Court Anthem, AZ 85086

$764,000

5 Beds

4 Baths

2,760 SqFt

Status Active

MLS # 6739908

Property Type Single Family Residence

Price Type --

Welcome to luxury living in the prestigious Anthem Country Club! This stunning 5-bedroom, 4-bathroom - detached guest house. Located on a serene cul-de-sac lot, with no neighbor to the East. Inside, you'll find elegant finishes, a gourmet kitchen, and ample living space. Live the country club lifestyle with an array of amenities, including a waterpark, pool, tennis courts, pickle ball, and fitness facilities. Enjoy breathtaking mountain views and direct access to the private golf course. Experience the ultimate in comfort and style in this exceptional property, perfect for families and entertaining. New AC, New Exterior Paint, New Water Heater, New Interior lighting and fans, New Soft Water System & Professionally Cleaned! Buyers agents welcome!

View Property

5727 N 84th Drive Glendale, AZ 85305

$763,990

5 Beds

3.5 Baths

4,517 SqFt

Status Active

MLS # 6717343

Property Type Single Family Residence

Price Type --

MLS#6717343 Welcome to the Acadia floor plan at Stonehaven Voyage! This to-be-built home lets you pick options and customize to your preferences. This impressive two-story plan welcomes you with an inviting front porch leading to a grand foyer with a decorative spiral staircase. To one side is a formal dining room, and on the other, a study. The expansive gathering room opens to the kitchen, which features an oversized island with a sink. Choose an optional chef or gourmet kitchen and select your finishes and upgrades. The primary suite is downstairs and boasts his and her closets and vanities. The second story includes secondary bedrooms, bathrooms, and a game room. Customize with additional bedrooms, an optional extra laundry room, or a media room.

View Property

10129 E Strobe Avenue Mesa, AZ 85212

$763,000

6 Beds

4.5 Baths

4,147 SqFt

Status Active

MLS # 6698389

Property Type Single Family Residence

Price Type --

Oversize home feature flexible floorpan with 6 bedrooms, den/office, loft, 4.5 bathrooms, and 3-car tandem garage with epoxy flooring. 9 ft high ceilings, recessed lighting, pre-wired surround sound, and plenty of natural light. Great room and kitchen with beehive fireplace, large island with breakfast bar, stainless appliances, and dining room are perfect for family or entertaining. One bedroom and den/office downstairs. Upstairs, primary suite has dual vanities, soaking tub, walk-in shower, and walk-in closet, and additional bedrooms are generously sized. Backyard with covered patio is ready for your imagination. Eastmark community benefits include: Community Center, community pool, the Great Park with a splash pad, lake, parks, trails, and more!... Eastmark offers Community Center, community pool, the Great Park with a splash pad, lake, parks, trails, and more!

View Property