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

20802 N Grayhawk Drive Unit 1026 Scottsdale, AZ 85255

Open House

$749,900

3 Beds

2.5 Baths

2,305 SqFt

Status Active

MLS # 6758858

Property Type Townhouse

Price Type --

Imagine yourself living in the prestigious and highly desirable Guard Gated community of Avian at Grayhawk in the heart of North Scottsdale. This beautiful townhome boasts the best location next to the community pool and spa and situated on the end of a private cul-de-sac. You don't want to miss this spacious 3 bd, 2.5ba, 2 car gar property with a private patio and cozy front courtyard. Open layout with Large eat-in-kitchen and extensive Great room with vaulted ceilings and an abundance of natural light. Huge laundry room with sink and tons of storage. When not spending time at the pool, you'll be minutes from world class dining, shopping, championship golf courses, hiking, biking,and everything that North Scottsdale and luxury desert living has to offer.

View Property

25824 N Fernbush Drive Phoenix, AZ 85083

Open House

$749,900

3 Beds

2 Baths

2,272 SqFt

Status Active

MLS # 6755400

Property Type Single Family Residence

Price Type --

STETSON HILLS BEAUTY - MOUNTAIN VIEWS!!! 3 BDRM/2BA/DEN/3CG/POOL & SPA/OUTDOOR FIREPLACE/RV GATE - This home is in pristine condition and meticulousy maintained. Bright & open floorplan features soaring ceilings, spacious home office; large kitchen island w/ beautifully veined granite counters, stainless steel appliances. Great room features an enlarged picture window to capture the outdoor fireplace, stunning waterfall spa & pebble-tech pool, gorgeous mountain sunset views & adjacent desert wash. Covered patio off great room has motorized retractable awning & convertible side screen to optimize your indoor/outdoor entertainment. Stetson Hills is a highly sought after community located close to Deem Hills Recreation Area offering hiking trails, dog park, pickle ball courts, soccer fields, playground,etc., Nearby highly rated schools, close to shopping, restaurants, movie theater, I17 & 101 Fwys.

View Property

1957 W Yellowbird Lane Phoenix, AZ 85085

Open House

$749,900

4 Beds

3.5 Baths

2,673 SqFt

Status Active

MLS # 6718309

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION. This beautiful family home is conveniently located across from the Fireside Norterra Community Center. The center offers Tennis, Pool, Gym, Rock climbing wall, & playground. Minutes from fabulous shopping & restaurants. This home offers 4 Bedrooms, plus a Den, 3.5 bathrooms, upstairs Bonus Room, Great Room floor plan that opens to expansive Kitchen with large Island & bar seating. Downstairs Primary Suite has large shower & dual sinks. Great Room sliders open up to your Backyard Oasis with upgraded travertine pavers, custom built-in BBQ, turf, above ground spa, & open views to greenbelt behind property. This property is ready & waiting to be your home!!

View Property

4618 E Desert Lane Gilbert, AZ 85234

Open House

$749,900

5 Beds

3 Baths

3,275 SqFt

Status Active

MLS # 6728426

Property Type Single Family Residence

Price Type --

Ideal corner lot location backing to the 2nd hole of award winning, Superstition Springs Golf Course. Larger than average lot and only one shared boundary. Imagine your outdoor entertainment possibilities as guests spill from your beautiful kitchen out on to this ample quarter-acre lot, where privacy meets endless fun - or serenity. This expansive outdoor space is perfect for playtime in the pool, games in the backyard, gardening, or simply soaking in the stunning scenery through your view fence. Imagine summer barbecues, peaceful mornings with a cup of coffee, and plenty of room for your family and pets to roam free. Inside the home features a first floor bedroom and bathroom, plus a second floor primary suite with private balcony, three spacious guest bedrooms, and guest bathroom.

View Property

19285 E Domingo Road Queen Creek, AZ 85142

Open House

$749,900

4 Beds

2 Baths

2,344 SqFt

Status Active

MLS # 6749702

Property Type Single Family Residence

Price Type --

Welcome to your next chapter! This charming 4-bedroom, 2-bath home in Queen Creek offers a perfect blend of comfort and charm. Newly renovated with brand new shaker kitchen cabinets and quartz countertops, fresh flooring in the main living areas, and a completely replaced irrigation system, this home is ready to create new memories. Boasting 2,344 square feet of living space, this property ensures ample room for growth and creativity. Don't miss the dedicated bonus room—ideal for your home office or yoga studio! Step outside to your expansive outdoor space, complete with a gas fire pit and a hot tub, perfect for Arizona's magical evenings. The four car garage space provides room for all your toys, with a pull-through garage adding convenience with a touch of sophistication. Nestled in a friendly neighborhood, the house is a stone's throw from Mansel Carter Oasis Park, where the green expanses invite leisurely afternoons. Enjoy proximity to Schnepf Farms and Queen Creek Olive Mill, bringing the best local produce and cuisine right to your doorstep. With Queen Creek Marketplace and San Tan Mountain Regional Park nearby, every day can be a new adventure. Come see how this home is just the one you've been dreaming about.

View Property

3548 E Mesquite Street Gilbert, AZ 85296

$749,800

3 Beds

2.5 Baths

2,425 SqFt

Status Active

MLS # 6757069

Property Type Single Family Residence

Price Type --

Your dream home awaits in the highly sought-after Morrison Ranch community, one of Arizona's most desirable neighborhoods. This stunning home has 3 spacious bedrooms, 2.5 baths, plus a DEN and LOFT, offering space for relaxation and entertainment. The recently remodeled kitchen boasts modern finishes, including a 9ft quartz island with ample cabinets. The first floor showcases brand new tile flooring. Private oasis welcomes you with a beautiful 9 ft deep pool, surrounded by lush greenery, and a charming fig tree. Near the main community walking path, scenic silos, and a tranquil lake. Morrison Ranch offers an array of amenities, including parks, and pickleball. Within the highly acclaimed Gilbert school district and minutes away from shopping and valley freeways. This home has it all.

View Property

21491 E Sunset Drive Queen Creek, AZ 85142

$749,800

4 Beds

3 Baths

2,569 SqFt

Status Active

MLS # 6756239

Property Type Single Family Residence

Price Type --

Two homes under one roof! Immaculate, like new single level, NextGen (IN-LAW SUITE) home, offers 4 bedrooms, 3-car garage. This open floor plan has 10' ceilings, huge sliding door onto a private patio. The highly upgraded gourmet kitchen features beautiful upgraded cabinets, 42'' Toffee color shaker style cabinets, subway tile backsplash, a walk-in pantry, stainless steel appliances, Corian countertops & 9-foot island. The spacious master bedroom features an incredible spa-like bathroom with dual sinks, granite tops, large mirrors, and an enormous glass-enclosed shower with a rain shower head. The Casita has a main bedroom, full kitchen, living room & washer/dryer. Entertain in this private tree lined backyard, saltwater pool, pergola, outdoor kitchen, fire pit & putting green. Furnished!

View Property

18957 W Lawrence Road Waddell, AZ 85355

$749,550

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6704409

Property Type Single Family Residence

Price Type --

2829 sq ft home located on a highly desirable corner homesite has all the right space in all the right places. As you walk through the spacious entry you will immediately notice the impressive feel of the 11' ceilings in the Family Room and the 16' Multi Sliding Glass Door leading out to the Patio, perfectly suited for large or small gatherings. A Gourmet Kitchen with gas cooktop, upgraded cabinets, countertops and a custom backsplash along with a Walk In Pantry make this kitchen a joy to spend time in whether you are relaxing with family or entertaining guests. An Owner's Retreat with a large Walk In Shower, upgraded flooring throughout and the included 4 car garage are just a few of the many upgrades that make this home a must see! 2X6 CONSTRUCTION; NEW HOME WARRANTY

View Property

52019 N Forepaugh Peak Road Wickenburg, AZ 85390

$749,500

3 Beds

2 Baths

1,589 SqFt

Status Active

MLS # 6642022

Property Type Single Family Residence

Price Type --

Hey y'all, kick off your boots and mosey on over to this 3-bed, 2-bath gem on 5.49 acres in the heart of Forepaugh. It's not just a house; it's a home tailor-made for the laid-back horse lover who's into a bit of roping, barrel racing, and trail riding. This place sits pretty on the paved road and comes with all the fixin's: a 3-car garage with mini-split A/C, a 3-stall shedrow barn, and a 50 amp RV hookup for those winter visitors. The inside's got all the modern bells and whistles - All NEW appliances, NEW AC, NEW hot water heater and in 2017 a NEW roof . But let's talk cozy: there's a propane fireplace for chilly nights and an above-ground hot tub for kicking back under the stars after a day in the saddle. Now, picture this: you can ride straight from your front door to state land, gather your buddies for some laid-back roping, or tear it up in barrel racing. Heck, you can even ride on over to the mailbox for your mail - the old-fashioned way. The views around here are downright spectacular, providing the perfect backdrop for your daily rides and evening chill sessions. And let's not forget the neighborly vibes - this community is all about good times and horsin' around. So, if you're lookin' to trade city lights for starry nights and want a place where modern comfort meets cowboy cool, reckon it's time to check out this Western haven. Call to arrange your visit, and let's make this your home on the winter range.

View Property

402 W Beechnut Place Chandler, AZ 85248

$749,500

3 Beds

3 Baths

2,348 SqFt

Status Active

MLS # 6730375

Property Type Single Family Residence

Price Type --

This beautiful Barcelona Model 3 bedroom 3 bath home is located in the desirable Iron Oaks at Sun Lakes Active Adult Community on the 5th hole of the Ironwood Golf Course. Entering the front gate you walk into your own private Courtyard and the entrance to a Casita for your guests complete with its own Bedroom, Bathroom and AC. The Main House boasts a Great Room with Majestic Windows with views of the Golf Course, and water feature in the backyard! This home features a Formal Dining Room or Den, Breakfast Nook, Sky Lights throughout and large Arizona Room. The Spacious Primary Suite has plenty of room for a private sitting area, separate entrance to the Arizona Room, Garden Tub, Step in Shower, Double Sinks, and Custom Walk in Closet. This home is a must see!

View Property

20750 N 87th Street Unit 2077 Scottsdale, AZ 85255

New

$749,500

3 Beds

2 Baths

1,893 SqFt

Status Active

MLS # 6764296

Property Type Townhouse

Price Type --

Great mountain views from your over-sized private balcony. This luxury townhome located in the Encore Community of Grayhawk has a spacious open floor plan, freshly painted, new lighting, plantation shutters and much more. Just steps to Isabella's Kitchen & a short walk to DC Ranch Market Street shops & restaurants. Community offers swimming pool, spa, and fitness room. The kitchen features upgraded cabinets w/ an expansive breakfast bar & stainless-steel appliances. Spacious primary suite boasts mountain views, private patio access and large walk-in closet. Upgraded bathrooms feature custom fixtures and raised countertops. One of the largest split floor plans, open living space make this a perfect home for entertaining and vacationing! Epoxy floor finish in the attached 2 car garage.

View Property

5308 N Granite Reef Road Scottsdale, AZ 85250

$749,500

4 Beds

2 Baths

1,881 SqFt

Status Active

MLS # 6725825

Property Type Single Family Residence

Price Type --

This property has been fully remodeled with numerous upgrades inside and out. The interior features modern enhancements, while the backyard has been transformed into a mini-golf oasis complete with a pool, making it perfect for both relaxation and entertainment. Conveniently located near local attractions and with no HOA, this home offers the ideal blend of comfort and convenience.

View Property