What’s Ahead For Mortgage Rates This Week – October 3, 2016

Last week’s economic releases included reports on new and pending home sales, S&P Case-Shiller Home Price Indices and regularly scheduled weekly reporting on mortgage rates and weekly jobless claims. Readings on consumer sentiment and confidence were also released.

New and Pending Home Sales Lower as Peak Sales Season Winds Down

August readings for new and pending home sales were lower than for July; analysts said that slim supplies of available homes and rising home prices contributed to slower home sales. Peak home sales typically occur during spring and summer. Homebuyers with school-aged children prefer to be settled into a new home when school starts in August and September.

According to the Commerce Department, new home sales achieved their second highest reading since the Great Recession. Although lower than July’s reading, August sales of new homes reached 609,000 on a seasonally-adjusted annual basis. Analysts expected a reading of 600,000 new home sales based on July’s reading of 659.000 new homes sold. August’s reading was 20.60 percent higher year-over-year. High demand for homes appears to be kicking home builders into higher gear as they strive to ease slim inventories of available homes.

The impact of short inventories of available homes was reflected in August’s reading for pending home sales. Home sales awaiting closing fell in August from July’s reading of +1.20 percent in July to 2.40 percent in August. The National Association of Realtors® said that home sales are declining due to very limited inventories of available homes. Rapidly rising home prices and strict mortgage qualification requirements also contributed to slipping sales. After home buyers sign a purchase contract, they are at the mercy of changing mortgage rates their ability to qualify for a mortgage. Pending home sales supply an indication of future closings and mortgage loans.

According to the S&P Case-Shiller 20-City Home Price Index for July, home price growth dipped from June’s seasonally adjusted annual rate of 5.10 percent to 5.00 percent. Slim inventories of homes for sale and high demand were again cited as primary reasons for slower home price growth. While demand is high, slim supplies of available homes can cause would-be buyers to postpone their home search until more homes are on the market.

Mortgage Rates Fall, New Jobless Claims Rise

Mortgage rates fell across the board last week according to Freddie Mac’s weekly survey of rates. The average rate for a 30-year fixed rate mortgage fell six basis points to 3.42 percent; the average rate for a 15-year fixed rate mortgage was four basis points lower at 2.72 percent. 5/1 adjustable rate mortgages had an average rate of 1.81 percent, which was one basis point lower than the previous week’s reading Discount points were also lower and averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims rose last week to 254,000 claims, but new claims were lower than the expected reading of 259,000 new claims which was based on the prior week’s reading of 251,000 new jobless claims. New jobless claims have stayed below 270,000 new claims for three months for the first time since 1973.

In prepared testimony before the Financial Services Committee, Federal Reserve Chair Janet Yellen discussed problems facing two major banks and said the Fed’s goal was managing its regulatory stance to support financial stability.

September’s Consumer Confidence Index reading rose to 104.1, which exceeded analysts’ estimated reading of 99.3 and August’s reading of 101.1.

What’s Next

Next week’s scheduled economic reports include readings on construction spending and several labor-related releases including ADP Payrolls, Non-Farm Payrolls and the National Unemployment Rates. Weekly reports on mortgage rates and new jobless claims are set for release as usual.

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

20251 W Catalina Drive Buckeye, AZ 85396

$584,990

4 Beds

3 Baths

2,456 SqFt

Status Active

MLS # 6747889

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the Amethyst floor plan with 3 bedrooms + study, 3 full baths and 3 car garage. Pavers at drive, walk and entry. Large walk in shower at owner's bath. 12x8 sliding glass door that leads out to your extended covered patio. Sonoma maple Linen-off white cabinets with hardware in kitchen with 42'' kitchen uppers and pull out trash drawer with two bins. AZT Tawny Quartz countertops in kitchen and at the enhanced island. Kitchen sink is a black under mount single bowl sink. 8' tall interior doors. Upgrade flooring includes Beaumont Olmo 7x24 plan tile in all areas of the home except bedrooms and closets. Dual sink at bath 2. Soft water loop, gas stub for future BBQ. Please verify information with onsite agent. Thank you!

View Property

3438 E Betsy Lane Gilbert, AZ 85296

$584,990

4 Beds

2.5 Baths

2,909 SqFt

Status Active

MLS # 6739064

Property Type Single Family Residence

Price Type --

Now with a strategic price adjustment—this opportunity is too good to pass up! This move-in-ready 4-bedroom beauty in Higley Park won't last long! The versatile floor plan offers THREE EXTRA living spaces—ideal for a den, home office, or cozy loft—giving you endless options to suit your lifestyle. The sellers have meticulously prepared this home, and it shows. With fresh paint, a new AC unit, and abundant storage, this home combines comfort, style, and functionality. You'll love the expansive primary suite featuring a grand bedroom, luxurious bathroom, and an oversized walk-in closet that's truly a must-see. Step outside to enjoy tree-lined streets, parks, walking trails, and a refreshing community pool. Located just a short stroll from Agritopia and Gilbert's Epicenter, where fantastic dining and shopping await. With close proximity to Loop 202, San Tan Mall, and excellent schools, this location is unbeatable. Take advantage of this newly priced gem tour today and make it yours!

View Property

262 S 164th Drive Goodyear, AZ 85338

Open House

$584,990

4 Beds

3 Baths

2,510 SqFt

Status Active

MLS # 6754928

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the Jade floor plan with 4 bedrooms all with walk in closets. 3 full baths. Everything is large in this home. Lot large enough for an 8' gate. Large owner's entry (mud area) as you walk in from the 3 car garage. Multi slide door off the spacious great room. Owner's bath has a large walk in shower with tile surrounds and floor. Pavers at drive, walk and entry. Stainless steel gas appliance package with 30'' cooktop, wall oven, microwave, canopy hood. Barnett painted Boulder cabinets. AZT Hana Sky quartz countertops at kitchen and expanded kitchen island. Dual sinks at bath 3. DT Broxburn gray 6x24 plank tile in all areas of the home except closets and bedrooms. Dual sinks at bath 3. Please verify all information with onsite agent. Thank you!

View Property

4827 Raven Circle Happy Jack, AZ 86024

$584,950

3 Beds

2.5 Baths

2,760 SqFt

Status Active

MLS # 6674098

Property Type Single Family Residence

Price Type --

Beautiful log cabin located in Happy Jack, escape the heat and busyness of your life. This great home sits on an acre with pines, oaks and junipers, great 3/4 wrap covered composite deck. Main floor has beautiful hardwood floors, vaulted ceiling, great brick fireplace, master bedroom/bath, office/den or extra living area, great room and an amazing kitchen and dining area. Great wood plank stairs lead upstairs to 2 bedrooms, bath and a great cozy playroom for the kids. This custom home offers many upgrades on the kitchen cabinets, windows, wood beams and more. You will fall in love sitting inside looking at the great interior or sitting on the covered patio watching the wildlife and listening to the peacefulness of Happy Jack. Bring your buyers, motivated seller.

View Property

16006 W Electra Lane Lane Surprise, AZ 85387

$584,930

3 Beds

3 Baths

2,229 SqFt

Status Active

MLS # 6764927

Property Type Single Family Residence

Price Type --

New home ready for immediate occupancy! This single level 2225 SF single level 3 BR, 3. BA home is located on a north south facing home site. Surrounded by single level homes, no 2 stories. Exciting included features include white cabinets, upgraded granite tops, tile Kitchen backsplash, plank tile on the floors, 10' ceilings, 8' interior doors, 3 car garage, gourmet kitchen, garage service door, tank less water heater, Front Yard landscape, and so much more. Neighborhood includes, tree lined streets, Community Aquatic Center, Picleball Courts. Certified Energy Star and Indoor Air Plus for more energy savings.

View Property

18411 N 46th Place Phoenix, AZ 85032

$584,900

3 Beds

2.5 Baths

1,748 SqFt

Status Active

MLS # 6783837

Property Type Single Family Residence

Price Type --

Welcome to this spacious 2-story home offering 3 bedrooms and 2.5 bathrooms. The home features a bright and airy main level with a spacious living room, kitchen, and a separate dining area. Just a few steps down, discover an inviting family room and convenient half bath, ideal for family and friend gatherings! Upstairs, you'll find the master suite with fireplace complete with a private ensuite bath, alongside additional bedrooms. You can enjoy the convenience of a two-car garage. This home provides ample parking and storage options. Lastly stepped into your backyard that has a brand new pool that the homeowner designed with endless taste and design. Set up your showing today and lets get you into your new home.

View Property

1300 W 7th Street Tempe, AZ 85281

$584,900

6 Beds

4 Baths

2,441 SqFt

Status Active

MLS # 6733783

Property Type Single Family Residence

Price Type --

**AMAZING 6bd/4bath HOME ON A HUGE LOT IN THE HEART OF TEMPE & NEAR ASU!** This is the perfect investment or rental property! Featuring: 2441 sq.ft of Living Space, Fresh Interior Paint, easily maintained Tile, Formal Living Room, Massive Family Room, Dining Area, Kitchen with Refinished Cabinets, Gas Stove, Refrigerator & Dishwasher, 6 Good Sized Bedrooms, 4 bathrooms (1 Newly Remodeled)+ A HUGE FLEX ROOM (potential 7th bedroom), Upgraded Dual Pane Windows, Custom Fans & AC is serviced regularly. Washer/Dryer & additional Refrigerator included. Flex Room at the back of the home also has separate entry. The Giant Family Room is perfect for a large game room/office/home theater and has 2 additional closets for extra storage. NO HOA, perfect for AIRBNB, Rental or a Large Family Home! This home is perched on almost a 10,000sf lot and has and additional storage shed on a slab in the backyard that provides tons of extra storage space. Your extended driveway has enough slab spaces in the front to park at least 7 cars. Location is walking distance from Mill Ave shops and restaurants/entertainment + ASU! This is a must see property!!!

View Property

26964 N 104th Lane Peoria, AZ 85383

$584,900

4 Beds

3 Baths

2,605 SqFt

Status Active

MLS # 6733026

Property Type Single Family Residence

Price Type --

Welcome to Northlands Encore in North Peoria, the best value for the money in the area, where the skies are bigger and the sunset glow fills the sky with radiant pink, orange, and purple. Step outside every morning and view the beautiful Calderwood Butte out your front door, with private backyard mountain views and the trail head right down the street, you'll get the full enjoyment of this very special home in an extraordinary community. Step inside this move-in ready 2-story Amethyst Model by Taylor Morrison, with over 2605 sq. ft. of living space, 4 BED + LOFT + 3 BATH, and a 2 CAR temp controlled garage. NEW CARPET was just installed in the living room and throughout the entire 2nd level! The main level features an open concept main living area, light and bright neutral color pallet throughout, white trim, blinds, and doors. Convenient main-level bedroom and full bath, currently used as a home gym. Open concept kitchen and dining area with light gray tile floors, can-lighting, contrasting twilight cabinets, dark gray granite countertops and island, a stainless steel GE appliance package, and a walk-in pantry for all your storage needs. The upper level features a large open loft, which can be used as another living space, office, or game area. Master suite with full master bath, featuring a tub and shower combo, double sinks, and a walk-in closet. Split floor plan with 2 additional bedrooms and a full bathroom. Step out back and take a deep breath, with no back neighbors and beautiful mountain views. Large, brick paver covered patio w/fan, outdoor kitchen w/ serving area for dining outdoors, centered green space with a play area to the side. SOLAR will be paid at closing! Neighborhood and property mountain views, close proximity to 303 freeway access, shopping, dining, entertainment, health care, and less than 20 min. away from beautiful Lake Pleasant Regional Park. A list of full updates available in the documents tab, there truly is nothing to do except move in.

View Property

8961 W Maui Lane Peoria, AZ 85381

$584,900

3 Beds

3 Baths

2,245 SqFt

Status Active

MLS # 6759656

Property Type Single Family Residence

Price Type --

Private lake living, priced way below market value. This home is spacious with beautiful lake views, and with remodeling of cabinets and floors, it will be spectacular. The current owners priced this three bedroom, three bath home, so the new owners can make the changes with their personal design choices. Take a look and imagine making this house not only an excellent investment, but also your beautiful lake front home.

View Property

5265 S Dante Road Mesa, AZ 85212

$584,900

3 Beds

2 Baths

2,020 SqFt

Status Active

MLS # 6766105

Property Type Single Family Residence

Price Type --

Just reduced and priced to sell! Don't miss this upgraded 3 BR, 2 BA home with a den/office in the desirable Bella Villa neighborhood of East Mesa. Situated on a secluded lot w/ mtn views and one neighbor, this home is move-in ready! The exterior features a custom brick paver walkway, beautiful landscaping, and a private backyard oasis. Inside, the open floor plan offers high ceilings, tile floors, new carpet in the bedrooms & ample natural light. The kitchen is a chef's dream with rich mahogany cabinets, granite countertops, a breakfast island, RO water system, walk-in pantry, and stainless-steel appliances. Great room is perfect for entertaining, w/built-in theater wall, pre-wired surround sound, recessed lighting, and plantation shutters. Low rate VA assumable loan available to non vet The master suite includes a bay window, walk-in closet, and private bath. The backyard is a retreat with an extended paver patio, solar-lit walkway, lush grass, and stunning mountain views. Bella Villa offers walking trails, playgrounds, and a dog park. Come experience the perfect blend of modern living and natural beautythis home won't last long!

View Property

4077 S Sabrina Drive Unit 63 Chandler, AZ 85248

$584,900

4 Beds

3 Baths

1,775 SqFt

Status Active

MLS # 6767230

Property Type Townhouse

Price Type --

Discover this lovely 4-bedroom end-unit townhome in the gated community of Echelon at Ocotillo! Enjoy a welcoming front patio with well-laid pavers, perfect for relaxing and watching breathtaking sunsets. The spacious great room boasts high ceilings, a soothing palette, recessed lighting, window blinds, and durable tile flooring. The gourmet kitchen features granite counters, white cabinetry with crown molding, subway tile backsplash, stainless steel appliances, and an island with a breakfast bar. The well-sized primary bedroom offers soft carpeting, an ensuite with double sinks, and a walk-in closet. This smart home also provides fantastic community amenities, including a playground, picnic spots, and a refreshing pool/spa. Make this gem yours today!

View Property

6078 E Southern Avenue Apache Junction, AZ 85119

$584,900

3 Beds

2 Baths

1,844 SqFt

Status Active Under Contract

MLS # 6720211

Property Type Single Family Residence

Price Type --

Exceptional property nestled on an acre lot, perfect for horse lovers! Near the Superstition Mountains, this BEAUTIFULLY REMODELED home offers breathtaking views & a serene environment. Providing 3 beds, 2 baths, & a 2-car garage. Highly upgraded interior showcases fresh neutral paint, tons of natural light, and wood-look flooring w/carpet in bedrooms. If entertaining is on your mind, you'll love the spacious open layout adorned w/a cozy fireplace! The renewed kitchen boasts SS appliances, quartz counters, recessed & pendant lighting, white shaker cabinetry, and an island w/breakfast bar. Main bedroom has a spotless bathroom w/tiled step-in shower. Relax under the covered patio of your expansive backyard! Plenty of room for parking, gardens, and horse/animal facilities! Move-in ready

View Property