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

21864 E Saddle Court Queen Creek, AZ 85142

$614,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6730732

Property Type Single Family Residence

Price Type --

The single-story Cassandra plan showcases an open layout with a great room with a multi-sliding glass door, a breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

View Property

16711 W Saguaro Park Lane Surprise, AZ 85387

$614,990

4 Beds

3.5 Baths

2,664 SqFt

Status Active

MLS # 6767427

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This Parklane floorplan offers 4 bedrooms, 3.5 baths, a garage extension, and a glass no-step walk-in shower. Notable features include 8' interior doors, built-in appliances, granite kitchen countertops, and gas stubs in the kitchen, backyard for BBQ, and laundry for a gas dryer.

View Property

37750 W Padilla Street Maricopa, AZ 85138

$614,990

4 Beds

3.5 Baths

2,024 SqFt

Status Active

MLS # 6762739

Property Type Single Family Residence

Price Type --

Move in FAST to this completed home! Say hello to luxury, Maricopa! This captivating Flagstaff floorplan features an expansive great room, Media room, Extra Suite with kitchenette, and stunning kitchen appointed with stacked cabinetry, gas stove top, and double ovens! Relax in your Primary suite and resort like bath with freestanding tub. The great room and adjacent patio are ideal for hosting gatherings. The tandem 4 car garage is perfect for storing offroad toys! With 10ft ceilings, 8ft doors, and 8,750 sq ft homesites, come see why K. Hovnanian is the First Name in Lasting Value! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

View Property

32018 N 117th Avenue Peoria, AZ 85383

$614,990

4 Beds

3 Baths

2,012 SqFt

Status Active

MLS # 6755506

Property Type Single Family Residence

Price Type --

Larkspur - 4 bed/3 full baths. Stainless steel gas appliance package with 36'' cooktop, wall oven, microwave, glass canopy hood. Sonoma Maple Linen-off white cabinets with black hardware, 42'' kitchen uppers. Upper and lower cabinets at owner's entry, and cabs in laundry room. AZT Steel gray granite tops in kitchen and all baths. Upgrade flooring - Mohawk Wood laminate Driftwood in all areas except beds & closets and so much more. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 3. PHOTOS OF THIS LISTING ARE OF THE CLOVER MODEL HOME.

View Property

2212 W Chisum Trail Phoenix, AZ 85085

$614,990

3 Beds

2.5 Baths

1,976 SqFt

Status Active

MLS # 6784079

Property Type Single Family Residence

Price Type --

Welcome to the Perata plan, a 3 bedrrom, 2.5 bathroom floorplan offering 1,976 square feet of elegant living space with a charming Farmhouse exterior with artificial turf in the front yard enhancing the home's curb apeal. As you step onto the pavers at the covered entry, you'll immediately appreciate the attention to detail in every corner of this beautifully crafted home. Stepping into the home, the white paint grade mission stair rail adds a touch of traditional craftsmanship while the 8' interior doors adorned create a sense of grandeur. This home's kitchen and greatroom open to a spacious outdoor space with a gas stub for BBQ ensuring the possibilities of effortless outdoor entertaining. The heart of the home, the kitchen, features stainless steel GE appliances including a 36'' chimney hood, a built-in gas cooktop with five burners, and a built-in wall oven and microwave with trim kit. There are white-painted 42 upper shaker cabinets at the kitchen perimeter and shale cabinets at the island with satin nickel and matte black hardware. A large single basin stainless steel sink with a Moen stainless steel kitchen faucet completes this chef's dream kitchen. All bathrooms feature Moen Eva 8 widespread brush nickel premium faucets. The bathrooms continue the theme of elegance with shale painted shaker cabinets and crisp white cultured marble tops with rectangular sinks. Throughout the downstairs, bath 2 and the laundry upstairs, you'll find durable 6x36 Natural wood look tile, while the primary bathroom boasts a serene 12x24 AZ Futura Tile in the shade Ivory which compliment the enlarged primary bath shower with white cultured marble surrounds and 3/8 glass, perfect for unwinding after a long day. All flooring is elegantly trimmed with upgraded 4 ¼ baseboards. This home is complemented by a soft water loop located in the garage for added convenience. Union Park offers Tree-lines streets, pedestrian-friendly sidewalks and 5,500 sq ft recreation center with resort style pool and kiddie pool, shared ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-10 and 303. Walking distance to restaurants, movies, entertainment, and shopping.

View Property

11458 E Utah Avenue Mesa, AZ 85212

$614,990

4 Beds

3 Baths

2,474 SqFt

Status Active

MLS # 6787361

Property Type Single Family Residence

Price Type --

Welcome to ''The Pearl,'' a stunning four-bedroom, three-bathroom farmhouse-style home featuring a guest retreat. With 10-foot ceilings and 8-foot doors, this home boasts an open, airy feel. The great room opens to a covered patio through a 4-panel center slider, perfect for indoor-outdoor living. The gourmet kitchen includes a 36-inch gas cooktop, charcoal shaker cabinets with hardware, a tile backsplash, and quartz countertops. Upgrades abound, including 6''x36'' wood-look tile in the main areas, and upgraded bathroom lighting, faucets, and fixtures. Experience luxurious living in this beautifully designed home..

View Property

865 S Oak Street Gilbert, AZ 85233

New

$614,900

4 Beds

2 Baths

2,243 SqFt

Status Active

MLS # 6787824

Property Type Single Family Residence

Price Type --

Welcome to this delightful 4-bedroom residence in Raven Ranch! You're greeted by a spacious 3-car garage and a tasteful desert landscape. Discover a bright living room with high ceilings, a cool palette, plantation shutters, and wood-look flooring. The great room includes sliding door access to the backyard and ample windows for abundant natural light. Cook delicious meals in the spotless kitchen, equipped with wood cabinetry, recessed lighting, stainless steel appliances, a handy pantry, and a peninsula with a breakfast bar for quick meals. The serene main bedroom offers a sitting nook, an ensuite with double sinks, and a walk-in closet. Venture out onto the backyard, complete with a covered patio, lush natural turf, and a refreshing pool. Make this gem yours today!

View Property

3043 E Rose Lane Phoenix, AZ 85016

$614,900

2 Beds

2 Baths

1,185 SqFt

Status Active

MLS # 6696353

Property Type Townhouse

Price Type --

This charming, newly renovated 2 bed, 2 bath townhome is situated on the prestigious Biltmore golf course and offers amazing views and amenities. The kitchen opens to the family room overlooking the patio and course. The bedrooms and baths are separated offering privacy. The community offers a swimming pool, spa, guard gate and tennis court. Plenty of room for parking between the single private garage and the covered public one.

View Property

21225 W Wilshire Drive Buckeye, AZ 85396

$614,900

4 Beds

2.5 Baths

2,322 SqFt

Status Active

MLS # 6713534

Property Type Single Family Residence

Price Type --

Picture yourself enjoying the fall sunsets on your private patio next to your heated pool, perfect for entertaining family and guests, or maybe just your own quiet time This stunning 4-bedroom, 3-bathroom gem with a den features a modern design and an open floor plan, perfect for both family life and entertaining. The gourmet kitchen is a chef's delight, boasting contemporary appliances, a large island, sleek tile backsplash, quartz countertops, and ample cabinetry. Step outside to your private oasis with a fully landscaped yard and a luxurious heated pool, perfect for year-round enjoyment. The home also offers a three-car tandem garage, solar system for energy savings, and double gates to conveniently park your toys. Nestled on a desirable corner lot, this home is an absolute must-see

View Property

3948 E Gold Mountain Avenue San Tan Valley, AZ 85143

$614,857

4 Beds

3 Baths

3,146 SqFt

Status Active

MLS # 6776756

Property Type Single Family Residence

Price Type --

Enchanting new home featuring designer selections, a split floor plan, and north/south exposure. Located in Bella Vista Farms, homeowners have access to their community pool and playground. The kitchen boasts a GE Executive kitchen appliance package including double ovens and a gas cooktop, there are also Delta Terra Quartz Zinc countertops and Aristokraft 42'' cabinets in Benton White. Other highlights in the home include a frameless walk-in shower at the primary suite and Vicinity White 6 x 36 Matte Wood like tile flooring. Utilities for this home include: Mesa Gas, EPCOR Water, and Rural Metro.

View Property

646 W Naranja Avenue Mesa, AZ 85210

$614,000

4 Beds

2.5 Baths

2,039 SqFt

Status Active

MLS # 6738172

Property Type Single Family Residence

Price Type --

***UPDATE...With an Accepted Offer, Seller will pay off Solar Lease before close of escrow.**Price Reduced** $10k Below Market value and ready to sell, Seller says bring an offer!! Welcome to your dream home, a beautifully remodeled gem located in desirable Mesa neighborhood. This stunning residence has been thoughtfully updated both inside and out, combining modern luxury with functional design. The updated kitchen is a chef's delight, featuring sleek stainless steel appliances and elegant quartz countertops that make meal preparation a pleasure. Crown molding throughout the downstairs and in the primary bedroom adds a touch of sophistication, while all-new fixtures and custom shutters with faux blinds enhance the home's refined aesthetic. Step outside to enjoy your private oasisa sparkling pool perfect for cooling off on hot summer days. The front and back yards are zero-scaped, providing beautiful, low-maintenance outdoor spaces that are as practical as they are attractive. This home isn't just a place to live; it's a lifestyle upgrade. Don't miss out on this exceptional opportunity, schedule a showing today and experience the perfect blend of elegance and convenience!

View Property

917 W Desert Hills Estate Drive Phoenix, AZ 85086

$614,000

3 Beds

2 Baths

1,600 SqFt

Status Active

MLS # 6750600

Property Type Single Family Residence

Price Type --

Looking for trail options to ride your horse from home? This horse property has three desert trailhead options within a mile of the home. This well-maintained, single-owner 3-bedroom, 2-bathroom home spans 1,600 SF on a spacious 1.125-acre lot, offering the perfect blend of rural charm, and modern conveniences. The property features a horse corral, a one-horse mare motel, and a detached 24x14 Tuff Shed/tack room, ideal for a tack room or storage. Situated on a private road with only two other residences, you'll enjoy unparalleled seclusion with an untouched natural desert lot to the north. Breathtaking mountain views and a serene country lifestyle. This move-in-ready home includes a two-car garage and an outdoor water feature that adds a soothing touch to your outdoor space. The open floor plan seamlessly connects the kitchen, dining, and living areas, while the split layout ensures privacy for the master suite. The master bedroom boasts dual sinks, a private toilet, and a tiled walk-in shower. Recent upgrades include a new roof in 2022, a new AC unit in 2017, exterior paint in 2021, and a new septic system in 2023. The home also features all-new windows (except the garage) installed in 2021, New kitchen counter tops, kitchen sink and faucet 2021, and newer appliances including a 2021 refrigerator, built-in microwave, a 2022 dishwasher, and a 2018 washer. The well is a 4 share well. This North Phoenix rural horse property offers the tranquility of country living while being conveniently close to the Carefree Highway, I-17, restaurants, shopping, and other amenities. Horse riding trails into the vast desert is a short 4,000 feet away. Don't miss out on this exceptional opportunity!

View Property