What’s Ahead For Mortgage Rates This Week – October 11, 2016

Other than a release on construction spending, last week’s economic readings were dominated by labor and employment data including ADP Payrolls, Non-Farm Payrolls and National Unemployment. Weekly reports on mortgage rates and new jobless claims were also released.

Construction Spending Drops in August

Commerce Department readings on construction spending indicate that overall spending fell in August to -0.70 percent; this reading was lower than the expected positive reading of 0.10 percent. July’s reading showed a drop of 0.30 percent in overall construction spending. The decrease in August spending was largely the result of pull backs on public construction spending, which declined 2.0 percent after July’s decline of 3.50 percent in July. Public construction spending is 8.80 percent year-over-year., and August’s reading was the lowest since March 2014.

Private sector construction spending fell 0.30 percent in August. Residential construction fell by 0.20 percent within the private sector reading. Reasons for falling construction spending include impending winter weather and previously cited labor shortages. Shortages of available homes and high demand for homes are creating pressure on construction companies to build more homes.

Labor Reports: Job Growth Slows in Public and Private Sector

ADP reported 154,000 private sector jobs created in September against August’s reading of 175,000 new private-sector jobs. September’s reading showed the lowest growth rate since April. Analysts said that lower readings for job growth could be expected as job openings are filled.

According to the government’s Non-Farm Payrolls report for September, 156,000 new jobs were added, which fell short of downwardly-revised expectations of 170,000 new jobs added. Analysts said that a reading of 120,000 jobs added represented a healthy rate of jobs growth. As more workers return to or join the workforce, job openings can be expected to decrease. Healthy growth in jobs may signal the Fed to increase interest rates in December.

National unemployment rose from 4.90 percent to 5.00 percent in September; variances can be expected in month-to-month readings that are considered more volatile than quarterly or annual readings.

New jobless claims correlated to fewer job openings and fell to a reading of 248,000 new claims 256,000 new claims were expected based on the prior week’s reading of 254,000 new claims.

Mortgage Rates Nearly Unchanged

Average mortgage rates were unchanged with the expectation of a decrease of one basis point for 5/1 adjustable rate mortgages to 2.80 percent. Average rates for 30 and 15 year fixed rate mortgages were unchanged at 3.42 percent and 2.72 percent Discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

What’s Ahead

This week’s scheduled economic reports are few due to the Columbus Day holiday Monday. Along with weekly readings on mortgage rates and new jobless claims, reports on job openings and consumer sentiment will be released.

Click Here to See What Your Home is Worth

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 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+

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

2170 Shaded Spring Trail Flagstaff, AZ 86005

$625,000

2 Beds

2 Baths

1,597 SqFt

Status Active Under Contract

MLS # 6776811

Property Type Single Family Residence

Price Type --

** NEW CONSTRUCTION. Nestled within the world's largest stand of Ponderosa Pines, The Highlands at Tovar Springs offers the perfect harmony of natural beauty and modern living. Situated in Flagstaff's stunning landscapes, this new community provides the tranquility of mountain living with the convenience of a vibrant, thriving town. The Oak floorplan, a single-story home featuring 2 bedrooms and 2 baths with an optional third bedroom, is thoughtfully designed for comfort and flexibility. Located on Homesite #16, this is a unique opportunity to secure a home at introductory pricing. Scheduled for delivery in Winter 2025, this home is crafted for year-round enjoyment, ideal as a seasonal getaway or a primary residence. The Highlands at Tovar Springs boasts easy access to miles of scenic trails and a nearby wildlife-rich natural wetland. Adventure is just outside your door, with hiking, biking, and wildlife viewing set against the stunning backdrop of the San Francisco Peaks. Only minutes from downtown Flagstaff, renowned for its culinary scene with two James Beard finalists, you'll also enjoy a rich cultural experience. Seamlessly connect to the Flagstaff Urban Trail Systema 75-mile network that winds through forests, canyons, and open spaces, linking parks, schools, and neighborhoods. Flagstaff is not only a gateway to outdoor adventure but a high-altitude training hub, attracting elite athletes and Olympians from across the globe.

View Property

31220 N 156th Street Scottsdale, AZ 85262

$625,000

3 Beds

2.5 Baths

2,078 SqFt

Status Active

MLS # 6552656

Property Type Single Family Residence

Price Type --

Property on WELL water! No need to worry about paying increased hauled water rates like other homes in the area. Permits in hand and ready to construct! Move-in in as little as 6-7 months and wake up every morning to breathtaking panoramic Mountain Views!!! All new homes around. Your BRAND NEW energy efficient three bedroom home on ONE ACRE has plenty of room to live the lifestyle you have always dreamed of. Buy NOW and select all your interiors from the builders included options or go custom. No HOA! This exclusive area is growing fast. Be one of the first to take pride in ownership in it! Reach out today to schedule a private walk of the property and meet the builder. Lots of upgrades included in the price! This beautiful new construction wont last long. Renderings are representation of elevation. Some options displayed in plan are available at an additional cost.

View Property

7647 W Nosean Road Peoria, AZ 85383

$625,000

3 Beds

2.5 Baths

1,982 SqFt

Status Active

MLS # 6717910

Property Type Single Family Residence

Price Type --

MLS# 6717910 Ready Now! The Iris is a single-story home offering 1,982 sq. ft. of living space with 3 bedrooms, 2 bathrooms, a 2-car garage, and a versatile flex room. As the only single-story floor plan at Aloravita South Discovery, this home is designed to impress. The foyer leads to a hallway with secondary bedrooms and a full bathroom. Moving further into the home, you'll find the open kitchen, casual dining area, great room, and flex room. Enjoy Arizona's beautiful weather from your private covered patio. The primary suite features a private bathroom with double sinks and a spacious walk-in closet, making it the perfect retreat.

View Property

6083 E Knolls Way Cave Creek, AZ 85331

Open House

$625,000

2 Beds

2.5 Baths

1,516 SqFt

Status Active

MLS # 6783479

Property Type Townhouse

Price Type --

Incredible opportunity to own a home in The Knolls with amazing sunsets! Spacious great-room floor-plan is designed with entertaining in mind. Beautifully updated kitchen boasts new stainless steel appliances, granite countertops, a large island, pantry, RO system, under-cabinet lighting, & gas stove. Expansive split master suite includes a cozy nook with updated master bath and walk-in closet with custom built-ins add luxury and convenience. Secondary bedroom also features an en-suite bath. Step outside to relax in the hot tub while enjoying STUNNING Black Mountain and sunset views. Fenced backyard includes a fireplace and hot tub, ideal for chilly winter evenings. Recent updates include a new water heater (2023), Hot Tub (2020) resurfaced roof (2022), interior paint, window shades, security door, garbage disposal (2024) . The garage offers built-in cabinets and epoxy floors. Just steps away from the heated community pool and spa, and within walking distance to historic Cave Creek's dining and entertainment options!

View Property

10818 E Obispo Avenue Mesa, AZ 85212

$625,000

3 Beds

2.5 Baths

2,178 SqFt

Status Active

MLS # 6776503

Property Type Single Family Residence

Price Type --

A gorgeous, well maintained 3 bedroom plus a den, 2 1/2 bath home that is move-in ready! Delightful curb appeal with easy to maintain desert landscaping, a 2 car garage, and a huge front patio to enjoy the sunset. The kitchen has staggered cabinets with crown molding, granite countertops, matching appliances and a breakfast bar. The large living room and adjacent dining area is spacious for entertaining. The master includes a walk in closet, snail shower, double sinks and a separate toilet room. Private backyard with an oversized covered patio to enjoy the Arizona winter evenings! SSV offers endless amenities for you to enjoy year round. Three 9 hole golf courses. Easy access to valley freeways.

View Property

1060 S Redberry Drive Show Low, AZ 85901

$625,000

3 Beds

2.5 Baths

1,791 SqFt

Status Active

MLS # 6691403

Property Type Single Family Residence

Price Type --

3 bed, 2.5 bath, living room, fire place, dining area, kitchen, LG appliances, kraftmaid cabinets, laundry with sink, solid wood oak/tile floor, 2 car garage, front porch, back patio, single level on a slab, metal roof, gutters

View Property

3259 E Isaiah Court Gilbert, AZ 85298

New

$625,000

4 Beds

3 Baths

2,410 SqFt

Status Active

MLS # 6780469

Property Type Single Family Residence

Price Type --

This two-story residence, built in 2007, offers a spacious layout with 4 bedrooms, 3 baths, with bedroom, bath and office/den on the first floor. With 2,410 sq ft of living space on a generous 7,573 sq ft lot, there's room for everyone to enjoy. The open floor plan is ideal for entertaining, while the well-appointed kitchen flows seamlessly into the dining and living areas. Recent upgrades such as LVP flooring, HVAC and water heater make this home lower maintenance. Step outside to your backyard, complete with 8' RV gate for easy access and plenty of space for outdoor activities. The 3-car tandem garage provides ample storage for vehicles and toys alike and has a 220V outlet. Residents have the option to purchase memberships to the Seville Golf Club and recreation centers.

View Property

7601 E Indian Bend Road Unit 1047 Scottsdale, AZ 85250

New

$625,000

2 Beds

2 Baths

1,364 SqFt

Status Active

MLS # 6788930

Property Type Apartment

Price Type --

Beautifully designed condo in the highly coveted Corriente community, conveniently located near multiple golf courses (McCormick & Silverado), the Scottsdale greenbelt, and endless top restaurants & shopping. This stunning 2-bedroom, 2-bath 1st floor unit has been meticulously maintained and is perfect for those seeking luxury & convenience. The popular, spacious Zafiro corner floor plan is light & bright thanks to multiple large south-facing windows. The gourmet kitchen boasts stainless steel appliances, gas cooktop, granite counters, bar seating and an abundance of cabinetry & storage. The open living area, accented with crown molding, offers a cozy gas fireplace and the southwest-facing covered patio provides the perfect space to enjoy Arizona's idyllic weather. The primary suite is a private retreat with a large walk-in closet, dual sinks, private toilet room and a walk-in shower. All appliances are included and some of the furniture is available on a separate bill of sale. The gated Corriente community offers upscale amenities including a climate-controlled underground parking garage (2 spaces), secure bike storage, an updated modern fitness center, BBQ areas, ramadas, and a luxurious clubhouse ideal for entertaining. Enjoy high-speed internet and DirecTV included in your HOA, along with added security through cameras at gate and garage entrances. Corriente connects to 18 miles of scenic walking and biking paths along the greenbelt and is steps away from Silverado Golf Course, Seville shopping, and the McCormick-Stillman Railroad Park. Scottsdale Fashion Square, Kierland Commons, Old Town Scottsdale, and the new Palmeraie Ritz Carlton PV are all close by making this location truly unmatched. Don't miss the opportunity to experience an effortless yet vibrant lifestyle in this wonderful property situated in the heart of Scottsdale.

View Property

6621 S Calle De La Cereza -- Hereford, AZ 85615

$625,000

3 Beds

2 Baths

1,927 SqFt

Status Active

MLS # 6784667

Property Type Single Family Residence

Price Type --

WWWWWHOA........Hold your horses!!!!! This is it!!! Remodeled Ranch house with metal roof on almost 5 acres with a Private Well, Pool with solar, Shop with electric, THE BEST 12 stall barn I have seen in Sierra Vista with pastures that include auto/waterers-high quality fencing that is cross fenced with turnouts, the value of this barn is out of this world and includes a wash rack too! Property includes an over built huge chicken coop, garden areas with fruit trees the most amazing views of the Huachuca Mountain and the Mule Mountains, and so much more!! Ask me or your realtor for Seller's 'Feature Sheet' this document will tell you ALL the extras to detail this one-of-a-kind property has to offer. There is not enough space here to list all!! That is how wonderful this property is!!

View Property

1622 E Cortez Street Phoenix, AZ 85020

$625,000

3 Beds

1 Bath

2,050 SqFt

Status Active

MLS # 6721387

Property Type Single Family Residence

Price Type --

Unique horse property in the heart of town on almost a full acre parcel. So large it feels like you have no neighbors and can enjoy the tranquility and a perfect location, minutes away from everything you need! Survey is available for lot split. Upstairs has 2 bedrooms (converted to 3) and 1 full bath with lots of upgrades and impressive woodwork, spacious upgraded eat in kitchen and large bedroom. In addition there is a basement with a separate entrance and two additional rooms. This is a rare find. Don't miss it. Buyer is responsible for verifying all material facts.

View Property

6764 W Firebird Drive Glendale, AZ 85308

$625,000

4 Beds

3 Baths

2,327 SqFt

Status Active

MLS # 6763127

Property Type Single Family Residence

Price Type --

Wonderful home in highly desirable Arrowhead Ranch community. This 4 bedroom 3 bath home features an open floorplan and vaulted ceilings. Upgraded kitchen with granite counters, stainless appliances and recessed lighting. Maple floors in entry, kitchen, walkways, landing and stairs. New Carpet in all other rooms. Plantation shutters throughout. Fabulous master with his and her closets, a huge walk-in shower w/ bench, double sinks on vanity with upgraded granite. Home has been just freshly painted throughout. 4th bedroom is a den with double doors, original option included having a closet for a bedroom. Nice backyard with sparkling pool and covered patio. Great location- close to beautiful lakes, walking and biking trails. Close to freeways, shopping and restaurants.

View Property

22743 E Avenida Del Valle -- Queen Creek, AZ 85142

$625,000

3 Beds

2.5 Baths

2,899 SqFt

Status Active

MLS # 6764641

Property Type Single Family Residence

Price Type --

You know when you walk into the perfect house and get that feeling that THIS IS THE ONE? Be ready to experience that! This home has all the bells and whistles buyers are looking for! AMAZING floor plan! HUGE great room w/ 15 ft sliding ''wall of glass'' & a kitchen to die for! Massive island w/upgraded granite, gas cooking! TONS of storage too! Split primary w/luxury primary bath! Epic laundry room too! Secondary bedrms are generous sized! Yards are low maintenance w/back having turf & tons of privacy! 3 car garage w/epoxy floor, security system, the list just goes on! Close to great shopping, restaurants and entertainment! And did I mention paid solar! Community pool, walk paths & great neighbors too!

View Property