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

7661 E Solano Drive Scottsdale, AZ 85250

$2,950,000

4 Beds

3.5 Baths

3,961 SqFt

Status Active

MLS # 6751749

Property Type Single Family Residence

Price Type --

This exceptional home, located in the prestigious gated community of Camelot Reserve, offers 3,962 square feet of meticulously renovated living space. Completed in 2023 using non-toxic materials, this home blends modern luxury with thoughtful design. The grand living area features soaring ceilings and an abundance of natural light from large windows, creating a warm and inviting atmosphere. The chef's kitchen is a highlight, featuring sleek quartz countertops, Thermador appliances, custom cabinetry, an instant hot water faucet, and pharmaceutical-grade water filtration. The spacious primary suite provides a private retreat with a spa-like en-suite bathroom that includes a dual vanity, soaking tub, walk-in shower, make-up station and a custom-designed walk-in closet. Three additional bedrooms, all with custom closets, offer generous space for family or guests. Each room is equipped with advanced tech features such as Lutron Caseta light switches, Serena automated shades, CAT5e wired networking, and coaxial connections for next-gen broadcasting. The home's smart water system includes a Moen Flo Smart Monitor for enhanced convenience. This home is built with all living areas and bedrooms on the main level, upper level is a wonderful loft / multipurpose room with full bathroom and large storage closet. Outside, the backyard is a peaceful oasis with a large covered patio perfect for entertaining. A cozy wood-burning fireplace adds charm to outdoor gatherings, while the professionally landscaped yard ensures privacy and beauty. The 3-car tandem garage, with polyaspartic floors, two EV chargers, and durable cabinetry, provides ample storage and convenience. With proximity to top-rated schools, premier shopping, and dining, this home offers a unique blend of luxury, comfort, and convenience in the heart of Scottsdale. Don't miss out on this rare opportunity!

View Property

180 Chapel Road Sedona, AZ 86336

$2,950,000

3 Beds

3 Baths

2,656 SqFt

Status Active

MLS # 6721255

Property Type Single Family Residence

Price Type --

Welcome to your Sedona sanctuary—a beautifully renovated home offering a spa-inspired retreat with unparalleled attention to detail. Priced to impress, this residence comes fully furnished with high-end pieces, with artwork available separately through a separate bill of sale. Located in the prestigious Mystic Hills community, this Eric Brandt masterpiece boasts breathtaking, unobstructed views of Red Rock formations, including Elephant Rock, Mother & Child, The Nuns, Mount Wilson, and Steamboat Rock. The iconic Chapel of the Holy Cross is just moments away. Set on a generous 0.6-acre lot, this retreat features three luxurious suites and a versatile den, blending practicality with opulence. Enjoy timeless, high-quality finishes and meticulous craftsmanship designed to create a serene and inviting haven. The renovation has introduced a modern aesthetic that captures the golden hour, when Sedona's red rocks glow with stunning hues. Explore walking paths, endless hiking trails, and Sedona's most coveted natural beauty right from your doorstep. Residents benefit from access to the newly renovated clubhouse, which includes tennis and pickleball courts, a pool, a jacuzzi, a fitness center, and a dynamic social calendar designed to build community and foster new friendships. For a detailed renovation list and to view our home/location video, please reach out.

View Property

6501 E Willow Springs Lane Cave Creek, AZ 85331

$2,950,000

4 Beds

3 Baths

3,400 SqFt

Status Active

MLS # 6703214

Property Type Single Family Residence

Price Type --

Welcome to this stunning contemporary Home on 4+ acres nestled amidst picturesque mountain ranges! A nearly new Home, this property offers both luxury and serenity in an Estate Homes area with no HOA restrictions. Collectors and hobbyists will love the 56' pull-through RV GARAGE and 4 large car bays. Modern finishes, abundant natural light, and thoughtful design elements extend throughout. FURNISHINGS are available separately. Enjoy indoor-outdoor living with a telescoping wall of glass in the Great room and a well-appointed kitchen with a waterfall quartz island. The Owner's suite is a luxurious retreat, featuring a spa-like bathroom and private patio. Outside, a large covered patio provides shade for entertaining, while the expansive land offers endless possibilities for customization. Would you add a guest casita, pool, spa, pickleball, an arena, or a barn? Relish the peaceful small-town lifestyle while still enjoying city water and paved roads. Nearby Cave Creek offers shopping, dining, and entertainment. Don't miss this extraordinary opportunity to make this property your own and start living the life you've always dreamed of.

View Property

4949 E Lincoln Drive Unit 13 Paradise Valley, AZ 85253

$2,950,000

4 Beds

4.5 Baths

3,748 SqFt

Status Active

MLS # 6697345

Property Type Single Family Residence

Price Type --

Nestled at the base of Camelback Mountain, in the exclusive Montelucia Resort guard gated community, Villa 13 offers Arizona's famed lifestyle w/a low maintenance vibe. French doors open out from the great room to the patio allowing a true indoor/outdoor feel. Recent thoughtful updates include sealed limestone countertops in the kitchen/butler pantry w/a refreshed contemporary tile backsplash & redesigned fireplace surround. An open floor plan enhances casual or formal entertaining. All bedrooms are ensuite. Second level is accessible by a paneled elevator. The Omni Montelucia's amenities assure true resort style living: fitness center, 3 pools( in addition to a private pool for Villa residents), restaurants & special events. A true lock & leave lifestyle awaits!

View Property

6936 E 1st Street Scottsdale, AZ 85251

$2,950,000

2 Beds

2.5 Baths

3,000 SqFt

Status Active

MLS # 6692878

Property Type Townhouse

Price Type --

Nestled in Arizona's most sought-after city, The NINES are a new collection of residences in Old Town Scottsdale brought to you by Two Hawks Design and Development. This custom home offers 3,000 SF of living space, 2 bed, 2.5 bath, 1 bonus room, a 2-car garage, and NO HOA FEES!!! Sleek modern architecture opens to three light-filled levels of refined interior luxury. This home offers expansive windows, a private backyard, a rooftop terrace, 2 additional outdoor patios, and bespoke details and finishes. This custom contemporary home invokes a simple refined style of living with unbeatable proximity to Scottsdale's premier lifestyle amenities. Discover fine dining, high end retail, and the Scottsdale Arts District just steps from your door.

View Property

30 Navajo Trail Sedona, AZ 86351

$2,949,900

5 Beds

4 Baths

4,760 SqFt

Status Active

MLS # 6753405

Property Type Single Family Residence

Price Type --

RED ROCK VIEWS!!! This 5 bedroom, 4 bathroom, plus Arizona Room, 1.3 acre property is located in a gated community and has been remodeled with all details in mind. Easy to navigate floor plan, vaulted ceilings with wood ceilings/beams, copper accents throughout (including sinks and tubs) and all on one level. Enjoy privacy and luxury at this hacienda beauty. Main house offers 4,295 sqft, Pecan Double Front Door with copper inserts, Living & Family Room each with gas hand cut stone Fireplaces, Formal & Informal Dining Room, Laundry Room in both Guest Suite and Primary Bedroom, 4 additional Bedrooms are split from Primary Bedroom, Bar with 2 Fridges & Wine Chiller and Gourmet Kitchen includes Subzero Refrigerator, Wolf Stove, Dishwasher, Island & Breakfast Bar. Garage features parking for 4 Cars (heated) and Copper Garage Doors. Casita offers 457 sqft, Rooftop Deck with BREATHTAKING PANORAMIC VIEWS,Kitchen includes Subzero Refrigerator, Wolf Stove, Dishwasher, Island & Breakfast Bar. Garage features parking for 4 Cars and Copper Garage Doors. Casita offers 457 sqft, Rooftop Deck with BREATHTAKING PANORAMIC VIEWS, Kitchenette. Circular Driveway can take you secondary driveway to the back yard and Casita or to the Courtyard, both with Copper Gates. Driveway provides lots of parking options or hosting or family gatherings.

View Property

5302 E Mercer Lane Scottsdale, AZ 85254

$2,945,000

5 Beds

5 Baths

5,295 SqFt

Status Active

MLS # 6746339

Property Type Single Family Residence

Price Type --

Welcome to the Magic Zip code of 85254! Perfect family home in esteemed GATED community of La Camarilla Estates. This exceptional home offers 5 spacious bedrooms, 5 baths, and 8 versatile flex spaces perfect for a home office, playroom, or personal gym. Great room with large windows/sliding doors to backyard. Split master includes a newly renovated closet and a workout room/office in addition to an oversized bed and bath with his and hers sink and bath. Memorable kitchen with features such as double dishwasher, Woodmode kitchen cabinets, extra deep drawers, granite, huge island with second sink. New paint, vaulted ceilings, and floor is lovely all the way through! Oversized corner lot with huge wrap-around patio, grassy area, pool and spa for elegant outdoor living. Double washer and dryer. Reversed osmosis water filter, butler's pantry, double oven, Cantera Iron front door, Knotty Alder custom 8 ft interior doors, Pella windows, hardwood floors, hybrid floors, granite galore, storage throughout, covered paver porch, attached guest suite, surround sound audio system, central vacuum system, water softener.

View Property

12641 E Shadow Ridge Drive Scottsdale, AZ 85255

$2,944,900

4 Beds

4.5 Baths

4,190 SqFt

Status Active

MLS # 6717144

Property Type Single Family Residence

Price Type --

TO BE BUILT opportunity. Estimated completion 20 months from contract. New gated community by Camelot Homes... Featuring sweeping mountain vistas and pristine desert surroundings, Shadow Ridge is the ultimate Scottsdale sanctuary. Boasting spacious lots, this follow-up to our award-winning White Horse and Bronco communities combines bright, contemporary design with timeless indoor-outdoor appeal, all in a highly-desirable location a stones throw from Tom's Thumb trailhead. Price is not final. Additional options to be added later for final price.

View Property

10492 N 128th Place Scottsdale, AZ 85259

Open House

$2,925,371

3 Beds

3.5 Baths

3,034 SqFt

Status Active

MLS # 6644608

Property Type Single Family Residence

Price Type --

Quicker move-in opportunity at Camelot Homes newest Scottsdale neighborhood. This beautiful gated neighborhood features contemporary designs with amazing indoor/outdoor living spaces. This new floorplan includes 3 bedrooms/3.5 bath plus den. The modern custom kitchen is a chefs dream with Wolf/Sub Zero appliances. The light and bright great room has upgraded drop ceiling, iron fireplace, and sliding glass doors. The owners retreat offers a spa like experience with sliding glass doors to the serene backyard. The stunning courtyard has a resort like pool with stunning fountains and sunken barbecue area.

View Property

4849 N Camelback Ridge Road Scottsdale, AZ 85251

$2,925,000

2 Beds

3 Baths

2,609 SqFt

Status Active

MLS # 6675753

Property Type Apartment

Price Type --

Tucked at the base of revered Camelback Mountain, Ascent is a new, private residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resort destination. This community incorporates the Sonoran Desert landscape directly into its design, at the most enviable location in Scottsdale. Ascent offer views overlooking the Valley & Camelback Mountain. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, and large outdoor patios. Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, Provenza wood floors, Sub Zero Wolf appliances & 10' ceilings.

View Property

39347 N Old Stage Road Cave Creek, AZ 85331

$2,925,000

3 Beds

3.5 Baths

3,711 SqFt

Status Active

MLS # 6560312

Property Type Single Family Residence

Price Type --

Premier Offering, Pre-Construction. Nestled in the hillside above and just beyond Ranho Mañana, you'll find 'The Village at Go John Canyon' by Del Rey Development. A hidden gem, a secluded enclave of fine custom homes. Each estate parcel is over 4.35 acres and borders the Desert Foothills Land Trust with direct, private trail access to the Cave Creek Regional Park. Here you'll find pure paradise with over 3000 acres of hiking, mountain biking and horseback riding. Enhanced by nature, each select residence affords unparalleled views and total privacy in a peaceful mountain paradise. Del Rey offers stylish architecture and each home is delivered complete with heated pool and landscape.

View Property

14035 E Lowden Court Scottsdale, AZ 85262

$2,900,000

4 Beds

4.5 Baths

5,055 SqFt

Status Active

MLS # 6727903

Property Type Single Family Residence

Price Type --

INCREDIBLE TUSCAN LUXURY VILLA. Private Gated Entry Driveway leads you to this incredible home. Step through a walled courtyard and discover a Formal Living and Dining Room, Chef's Kitchen, Billiards Room, Wet Bar with Beer Tap, 680 Bottle Wine Cellar, and Private Entry Office. True Rustic European Elegance is showcased throughout with features such as Tall Turrets with brick ceilings, Custom Wood Beam and Corbel Ceilings, and Beautiful Hardwood Floors. The resort-like backyard will leave you breathless with a Heated Grecian Pool and Spa, Built-in BBQ, Outdoor Fireplace with Seating Area, Fire Pit with Seating Area, Expansive Covered Patio with Dining and Additional Seating, and Mountain Views in Every Direction. There is even a Putting Green. A 900 Square Foot Guest House, located above the Grand Turret, has its own entry from the courtyard. Some furnishings will be available through a Bill of Sale. Granite Mountain Ranch homes and lots are in high demand. Properties range from 2 to 5-acre sites and feature paved, lighted streets and underground utilities. Nearby amenities include golfing, hiking, and biking, with the Tonto National Forest just out the back gate of the community. This home sits on a 2.5-acre lot with 360-degree mountain views. The Equestrian Community also features common areas and horse facilities. Experience unmatched luxury and elegance in this Tuscan Villa. Plan your private tour today as this home needs to be seen to be truly appreciated.

View Property