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

3112 Pioneer Trail Flagstaff, AZ 86005

$750,000

2 Beds

2 Baths

1,216 SqFt

Status Active

MLS # 6730484

Property Type Single Family Residence

Price Type --

Amazing off the grid northern AZ sanctuary. Relax among the ponderosa pines in this secluded Chalet that boasts all the modern charm and luxury. Indoor-outdoor living with a spacious wrap-around balcony and covered porch. Newly installed laminate flooring throughout the main floor. Beautiful stone fireplaces located in the Great Room and upstairs Master (loft) bedroom. Eco-Friendly home with plenty of on-site Solar Panels, (batteries) power storage, water capture system and a back-up generator for anyone looking for a weekend getaway or a full-time residence. RV hook-up for additional guest flexibility. Whether you prefer to hike, ski, bike, fish or ride, this this is the only way to enjoy the gorgeous northern Arizona outdoors! All interior furnishings are available to purchase.

View Property

31712 N 169th Avenue Surprise, AZ 85387

$750,000

4 Beds

2.5 Baths

2,800 SqFt

Status Active

MLS # 6669534

Property Type Single Family Residence

Price Type --

Brand new property that encapsulates luxury and functionality. This stunning residence boasts 4 bedrooms and 2.5 bathrooms, accompanied by a versatile Hobby Room. Expanding over 2800 SqFt, this home harmoniously blends spaciousness with coziness. With a 2 Car Garage and an additional 43ft RV Garage, set on a sprawling 1.1-acre lot, this property is a haven for practicality and adventure. Step inside to discover the timeless allure of wood plank tile flooring, complemented by quartz counters and elegant white shaker cabinets. The thoughtfully designed Jack and Jill bathroom enhances convenience and privacy. Nestled in a prime location, this home is nearby brand new Fry's Marketplace, Starbucks, Barro's Pizza, Jersey Mike's, and more!

View Property

7161 E Rancho Vista Drive Unit 2002 Scottsdale, AZ 85251

$750,000

2 Beds

2 Baths

1,295 SqFt

Status Active

MLS # 6762479

Property Type Apartment

Price Type --

Lovely unit is interior facing overlooking a serene pool while enjoying the lush terrace. Custom kitchen features granite countertops, Dacor gas range as well as double oven, wine refrigerator, breakfast bar and open to dining & living space. Office nook with ample storage. Unit is surrounded by windows extending to the terrace to create a very inviting home. Optima features many amenities including 24,000 sq ft fitness center, lap pool, two spas, steam room, basketball, racquetball & exercise room. The landscaping throughout the development is lush and green and features waterfalls, reflective pools and putting green. There are 2 outdoor pools/spas, retail shopping, dog park and plenty of walking paths. Quick walk to Scottsdale Fashion Square, dining, movies and entertainment

View Property

6974 S Hohokam Place Gold Canyon, AZ 85118

$750,000

3 Beds

2 Baths

2,380 SqFt

Status Active

MLS # 6758006

Property Type Single Family Residence

Price Type --

Nestled in a private cul-de-sac on a sprawling .4 acre lot, this highly upgraded custom home offers a true entertainer's paradise with breathtaking views of the Superstition Mountains and protected open desert behind. Experience luxury with a self-cleaning pool, cozy fire pit, and multiple covered seating areas in the vast backyard. The thoughtfully designed split floor plan features 3 bedrooms plus a den and 2 exquisitely remodeled bathrooms. Travertine and plank wood flooring flow throughout the home. The gourmet kitchen boasts beautiful slab granite counters, high-end appliances and opening to the dining and family room for seamless entertaining. The master suite is a retreat with a custom walk-in shower, striking copper tub, bespoke vanity, two closets, and a stylish

View Property

13308 N 93rd Place Scottsdale, AZ 85260

$750,000

3 Beds

2 Baths

1,542 SqFt

Status Active Under Contract

MLS # 6734341

Property Type Single Family Residence

Price Type --

Freshly remodeled and updated Beautiful Home in Desert Shadows 2 Neighborhood. This home can be the right one for a large variety of buyers. We have New Flooring, Remodeled Kitchen with Quartz Counters and Tile Backsplash. Both Bathrooms redone and the entire inside freshly painted. Added storage in raised ceiling closets Nice Open Floor Plan with vaulted ceilings that is great for Entertaining and opens out to oversized patio and backyard with Citrus Trees and Mature Landscaping. This home needs to be seen and experienced in person. Location is fantastic and close to Freeway and some of the finest shopping Scottsdale has to offer.

View Property

2363 S Banning Street Gilbert, AZ 85295

$750,000

4 Beds

3 Baths

2,622 SqFt

Status Active Under Contract

MLS # 6762508

Property Type Single Family Residence

Price Type --

Great home! Thank you!

View Property

511 School Street Jerome, AZ 86331

$750,000

3 Beds

3 Baths

1,736 SqFt

Status Active

MLS # 6745290

Property Type Single Family Residence

Price Type --

turn key Airbnb offers three separate suites, live in one or rent the entire home. Downstairs features 2 separate en-suites. Upstairs has been beautifully remodeled with Porcelain wood plank tile floors throughout, newer appliances in kitchen, open and bright with lots of windows for views, new paint inside out and pavers. Master suite deck is the perfect place to watch the sunset. Enjoy nature in the lush backyard and 8 ft waterfall feature. Make this your home today

View Property

119 W Boca Raton Road Phoenix, AZ 85023

$750,000

4 Beds

2.5 Baths

2,265 SqFt

Status Active Under Contract

MLS # 6759158

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION, LOCATION! Incredible opportunity to update and renovate this quality single level home in the heart of Moon Valley on the 4th Fwy of the 18 hole MVCC Championship golf course. 180 degree views of the North Mountain Preserves, sparkling lake and golf course from the finished and enclosed Arizona room through the open backyard and decorative iron fence. Quiet cul de sac street with a north south exposure. 10 minutes to the 51, 101 and I-17 Freeways. Great neighborhood schools and park nearby. No steps and NO HOA!

View Property

18834 E Cardinal Way Queen Creek, AZ 85142

$750,000

5 Beds

3 Baths

3,521 SqFt

Status Active

MLS # 6760760

Property Type Single Family Residence

Price Type --

This home has all the right updates, and has been beautifully taken care of. It features luxury vinyl plank flooring, an open-concept kitchen, showcasing sleek white cabinets, gorgeous granite countertops, stainless steel appliances, and gas cooktop. Downstairs also has a secluded bedroom with a full bath off of it, making it convenient for guests. Upstairs you will find four good sized bedrooms that all offer ample space. This home has two lofts, one of which is a very fun and unique play area for the kids with a built-in indoor slide. Outside, your private paradise awaits! Dive into the sparkling pool, unwind in the soothing spa, or enjoy the warmth next to the built-in gas fire pit. This home boasts a three-car garage, providing plenty of storage and parking, along with an RV gate.

View Property

22851 W Mark Lane Wittmann, AZ 85361

New

$750,000

5 Beds

3 Baths

3,155 SqFt

Status Active

MLS # 6765023

Property Type Single Family Residence

Price Type --

This stunning corner lot property offers 2 master suites in a slit floorplan perfect for hosting guests, or use as game room! 5 spacious bedrooms and a home office for today's needs. The gourmet kitchen features upgraded cabinets and ample counter space. Enjoy your private oasis with a heated pool/spa on the 1.1-acre fenced private lot and County approved plans for a 30x30 detached garage. Easy RV access with a straight pull-in driveway, and 3-car garage. NEW top of the line variable speed HVAC system! Peace away from the city and gorgeous mountain views complete this move-in-ready home.

View Property

19550 N Grayhawk Drive Unit 1039 Scottsdale, AZ 85255

$750,000

2 Beds

2.5 Baths

1,645 SqFt

Status Active

MLS # 6760998

Property Type Apartment

Price Type --

Welcome to Cachet at Grayhawk, nestled in the heart of Scottsdale, Arizona. This neighborhood offers a refined living experience with its exclusive guard-gated entry, ensuring peace of mind for all residents. Stroll or bike along the scenic paths that wind through the community, or start your day with a brisk tennis match followed by a refreshing dip in the community pool. For golf enthusiasts, a beautifully manicured golf course awaits, offering endless rounds of enjoyment. With soaring ceilings, this 1,645 square foot home has 2 spacious bedrooms and a den, 2.5 baths, and 2 car garage with additional storage. Mountain views from a covered patio are sure to delight on that crisp winter morning in Arizona. And the sunset and sunrise...simply amazing. Welcome to your new home!

View Property

2104 E Bartlett Place Chandler, AZ 85249

$750,000

3 Beds

3 Baths

2,855 SqFt

Status Active

MLS # 6757688

Property Type Single Family Residence

Price Type --

Beautiful home with Sparkling Heated Pool and Solar in the Premier Gated community of Countryside Estates. This amazing home features a flowing split floor plan, updated windows, oversized diagonally set tile, and wood laminate throughout. The gourmet kitchen includes an abundance of 42'' Maple cabinets w/roll-out shelves, Kitchen Island, and eye-catching Granite. Large Primary bedroom with Bay Window overlooking the pool/backyard, spacious en-suite Primary bathroom w/updated walk-in Shower, and custom walk-in closet. Each of the secondary bedrooms are oversized with walk-in closets and split from the Primary as well. There is also a large bonus room (currently used as a workout room) w/closet and if you are looking for more bedrooms, this room can easily be enclosed by just adding a wall

View Property