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

13220 W Beverly Road Goodyear, AZ 85338

$739,900

4 Beds

2.5 Baths

2,117 SqFt

Status Active Under Contract

MLS # 6735494

Property Type Single Family Residence

Price Type --

OWNED SOLAR PANELS TO BE PAID OFF BY SELLER AT CLOSING. Your desert retreat awaits! Nestled along the Estrella Mountains, this newly renovated home sits on just over an acre boasting 4 bedrooms, 2.5 bathrooms, 10ft ceilings, a chef's kitchen with high end finishes and breathtaking mountain views. It is surrounded by natural desert landscaping and has a sprawling evergreen turf lawn in the backyard with plenty of room for a pool, outdoor kitchen, etc. The possibilities are endless! Enjoy the mesmerizing Arizona sunset and take in the city lights from the generously sized balcony. All of this with NO HOA and close proximity to Estrella Mountain Regional Park, Phoenix Raceway, and Goodyear Ballpark.

View Property

230 E Appaloosa Court Gilbert, AZ 85296

$739,900

5 Beds

3 Baths

3,300 SqFt

Status Active

MLS # 6752669

Property Type Single Family Residence

Price Type --

This is an amazing floorpan! Luxurious 5 Bedroom home with tons of natural light. Walking distance to downtown Gilbert and all the restaurants. Each room is generously sized, offering either a walk in closet or two closets. Entertainer's kitchen ready for all the parties, opens up perfectly to the formal dining room and huge living space. Vaulted ceilings, tile in the right places. Outside your private oasis awaits with a sparkling pool perfect for hot Arizona summers. Worried about storage? 3 car garage and tons of closets to store everything! This home provides upscale living and an unbeatable location with pretty much everything you've been looking for. Great neighborhood with walking paths and right across from a great gym, on a culdesac lot and just down from the park.

View Property

1936 Elk Road Heber, AZ 85928

$739,500

3 Beds

3 Baths

2,004 SqFt

Status Active

MLS # 6690125

Property Type Single Family Residence

Price Type --

This custom log sided chalet on 1.75 acres is sure to please! Like new condition and secluded feel describes this 3BR, 3BA cabin. Tons of features with split floor plan, master BR downstairs and huge loft upstairs (currently used as the 3rd BR). Soaring vaulted T&G ceiling, lodgepole railing and knotty oak cabinets give that rustic feel. Custom window treatments, gas fireplace and new gas furnace with A/C. Oversized 2 car garage, tons of Trex deck and equipped to run off grid with shared well, solar and propane generator for well backup!

View Property

19913 W Marshall Avenue Litchfield Park, AZ 85340

$739,374

3 Beds

2.5 Baths

2,793 SqFt

Status Active

MLS # 6747322

Property Type Single Family Residence

Price Type --

his open-concept, 2,773 square foot home has the perfect amount of space to in all the right places and is located on a N/S 9,100 square foot homesite with no neighbors directly behind and an 8' double gate. 3 bedrooms + study + retreat. 4 car tandem garage provides much desired storage space. The extended covered patio gives you extra room for outdoor entertainment and backyard is large enough for a pool. Gourmet kitchen with gas cooktop, upgraded cabinets and countertops with custom backsplash, upgraded flooring; 2X6 CONSTRUCTION; NEW HOME WARRANTY.

View Property

17864 E Fort Verde Road Rio Verde, AZ 85263

$739,000

3 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6716782

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Trilogy at Verde River a premier Luxury Gated Community! This stunning single-level Luxury Home has it all! The spacious split North/South facing Acacia floor plan with 2 upscale bedrooms and a LARGE DEN boasts a gourmet kitchen with GE Monogram SS appliances, and a large island that's perfect for entertaining. You'll appreciate the attention to detail and luxurious touches throughout that make this home truly special. Custom finishes throughout including wood look tile floors, built in custom wood accent wall in the Great room, hand painted accent wall in the dining and kitchen area, stunning lighting fixtures, and custom window treatments. The primary is a true oasis of comfort and sophistication, featuring Wood Accent wall, custom mirrors, dual vanities, and a large walk-in closet. True privacy and convenience abound - this home is fit for comfort and luxury, and includes spectacular spaces, including extended covered patio, beautiful desert landscaping and your private Putting Green. All this and more set in one of the valley's most scenic locations in the world class Trilogy community.

View Property

3843 E Old Stone Circle Chandler, AZ 85249

Open House

$739,000

4 Beds

3 Baths

2,766 SqFt

Status Active

MLS # 6724927

Property Type Single Family Residence

Price Type --

Captivating Chandler home nestled Old Stone Ranch's charming tree-lined lake community. Updated home features 4 spacious bedrooms, incl one conveniently located on the main floor w adjacent full bath. Versatile loft & den overlook mature trees. Elegant interior offers formal living & dining areas, complemented by spacious kitchen w granite countertops, sleek gray cabinets, stainless steel appliances, gas stove, built-in bar, & inviting island. Main level showcases beautiful wood-look tile flooring, new carpeting added upstairs. Primary suite boasts stylish subway-tile walk-in shower. Expansive backyard is perfect for entertaining w pebble tec pool & oversized patio. Ideally situated near shopping, dining & entertainment, this home blends comfort & convenience in desirable South Chandler. New pool pump 2024, new water heater 2024, new carpet 2024.

View Property

20955 E Mayberry Road Queen Creek, AZ 85142

$739,000

5 Beds

4 Baths

3,158 SqFt

Status Active

MLS # 6712015

Property Type Single Family Residence

Price Type --

Discover this inviting 5-bedroom, 4-bathroom residence offering a perfect blend of luxury and comfort, ideal for both relaxation and entertaining. Nestled in a tranquil neighborhood, the home boasts a spacious and inviting layout with plenty of natural light throughout. The heart of the home is the upgraded kitchen, featuring top-of-the-line stainless steel appliances, custom cabinetry, a prep kitchen, oversized pantry, chef's stove, 2 ovens and elegant quartz countertops. It seamlessly flows into a cozy family room, creating an open-concept space perfect for gatherings. Upstairs you will find the large loft perfect for movie nights and 3 generously sized bedrooms with walk in closets and one bedroom with an attached bathroom. On the first floor the primary suite is a true retreat, complete with an en-suite bathroom featuring a walk-in shower, dual vanities and a dressing table. The fifth bedroom, also on the first floor, is the perfect retreat for guests with access to a semi-private bathroom. Step outside to your private oasis! The travertine tile patio is perfect for outdoor dining and lounging, overlooking a sparkling pool that promises endless summer fun. The beautifully landscaped yard offers a serene escape, perfect for both relaxation and entertaining guests. Additional features include a three car tandem garage, a spacious laundry room and a separate entry from the garage. This meticulously maintained home is move-in ready, offering a luxurious lifestyle in a sought-after location minutes away from Queen Creek Marketplace, area dining and quick access to local freeways. Neighborhood amenities include 2 large parks, green space, community grills, pickle ball and basketball courts. Don't miss the opportunity to make this exceptional property your own! This home is agent-owned.

View Property

17571 N Havasupai Drive Surprise, AZ 85374

$739,000

3 Beds

2.5 Baths

2,406 SqFt

Status Active

MLS # 6763091

Property Type Single Family Residence

Price Type --

Well cared for 3 BR / 2.5 BA with many updates situated in the middle of the fairway on #12 Granite Falls South Golf Course. Watch the golfers from the massive picture window in the Master Bedroom. This model is not your typical Jasmine as the interior has been reconstructed. The open concept Great Room w/ Gas Fireplace and Kitchen is such a delight for entertaining as the view of the golf course is so soothing. The Water Feature is comforting as you enjoy your morning coffee or evening beverages on the covered patio. If you are a project person the full 3 car air conditioned garage will be your haven. Look no more...........make this you new home TODAY!

View Property

60 Gunsight Hills Drive Sedona, AZ 86351

New

$739,000

2 Beds

2.5 Baths

1,758 SqFt

Status Active

MLS # 6765609

Property Type Single Family Residence

Price Type --

Welcome to your turnkey dream home in Sedona! This beautifully updated 2-bedroom, 2.5-bathroom gem is nestled in the heart of the Village of Oak Creek Country Club, offering breathtaking red rock views from every window. Step inside & be greeted by an abundance of natural light, new vinyl plank flooring, and a cozy double-sided fireplace that seamlessly connects the living spaces. The spacious kitchen boasts butcher block countertops, a newer refrigerator, dishwasher, & stove - perfect for the home chef. Two living areas provide ample space for relaxation and entertaining, while the large fenced yard invites you to enjoy the serene outdoors. Imagine waking up to stunning red rock vistas, spending your days exploring nearby hiking trails, & unwinding by the fireplace as the sun sets. This is more than just a home; it's an opportunity to experience the magic of Sedona in a truly exceptional setting.

View Property

2430 E Winston Drive Phoenix, AZ 85042

$739,000

-- Bed

1 Bath

378 SqFt

Status Active

MLS # 6734867

Property Type Single Family Residence

Price Type --

Interested in tiny home living? A Great location at the bottom of South Mountain! Wake up to Mountain views every day. the property is just a block away from the Mormon trail head, offering fantastic hiking and mountain biking opportunities. This charming 378-square-foot home might be perfect for you. Nestled on 1.46 acres, it features a spacious patio, a detached garage/workspace. Alternatively, you can build your dream home and use the tiny home as a guest house. The possibilities are endless! The home is on city water. Currently on septic but city sewer is a 100ft away.

View Property

2341 W Shadow Glen Court Anthem, AZ 85086

New

$739,000

3 Beds

3 Baths

2,454 SqFt

Status Active

MLS # 6765590

Property Type Single Family Residence

Price Type --

Unparalleled privacy on this expansive corner lot in Anthem Country Club! This single-level home has breathtaking sunset/city light views, perfect for luxurious desert living. With 2 bedrooms, an office & a casita featuring a new mini-split system, this home offers flexibility & comfort. The open floor plan is ideal for entertaining with a spacious great room & an updated eat-in kitchen with island seating. Recent upgrades include newer HVAC, roof & hot water heater. The extended 2-car garage provides ample storage & has room for a golf cart. Embrace outdoor living in the resort-style backyard, complete with a 600sf 5-hole putting green & solar lighting for evening enjoyment. This home offers the perfect blend of luxury and practicality in a serene setting. Main house is 2186; casita 268.

View Property

26841 N 14th Lane Phoenix, AZ 85085

$739,000

4 Beds

2 Baths

2,018 SqFt

Status Active

MLS # 6762621

Property Type Single Family Residence

Price Type --

This stunning home is nestled at the foot of a serene mountain preserve within the highly sought after master planned community of Fireside at Norterra. New AC unit and exterior paint. The fabulous interior showcases shutters, on-trend color palette, tile flooring in common areas, and wood floors in bedrooms. Versatile formal dining room and desirable great room w/pre-wired surround sound. The open-concept kitchen boasts SS appliances, granite counters, travertine backsplash, recessed & pendant lighting, pantry, wood cabinetry, and a prep island w/breakfast bar. Primary bedroom has an ensuite with dual sinks. You won't want to leave the backyard with breathtaking views of the Sonoran Mtn Preserve. Fireside amenities include community center with gym, pools, tennis, parks and much more Discover the spacious backyard, where tranquility meets outdoor living! It includes a firepit, an extended paver-covered patio, artificial turf, and a view fence for serene vistas. Fireside amenities feature a state-of-the-art community center that includes a gym, pools, tennis courts, parks, rock climbing wall, & much more. Enjoy endless recreation and relaxation just moments away! Wow, just WOW!

View Property