What’s Ahead For Mortgage Rates This Week – October 31, 2016

Last week’s economic reports included S&P Case-Shiller Home Price Indexes, along with readings on new and pending home sales. Recurring weekly reports on mortgage rates and new jobless claims were also released.

Case-Shiller: Pacific Northwest Shows Fastest Home Price Growth

According to the Case-Shiller 20-City Home Price Index for August, home prices in Portland, Oregon and Seattle, Washington grew fastest year-over-year. Portland posted an August index reading of 11.70 percent and Portland followed closely with a reading of 11.40 percent. Denver, Colorado rounded out the top three cities with the fastest rates of home price growth with a year-over-year reading of 8.80 percent. The 20-City Home Price Index rose 0.30 percent year-over-year to 5.30 percent in August.

Low inventory of available homes poses challenges for housing markets, but Case-Shiller reported that the national home price index was 0.60 percent lower than its peak reading in 2006. The 20-City Home Price Index was 7.10 percent lower than the 2006 peak. This provides a positive context for healthy home price growth, but concerns linger about a repeat of the housing bubble that burst and caused home prices to crash.

David M. Blitzer, Chairman of the S&P Index Committee said that a new housing bubble is unlikely. Home buyers are not taking out huge mortgages as was common prior to the Great Recession; mortgage lenders have adopted stricter qualification standards to help ensure that borrowers can afford their mortgages.

New Home Sales Rise in September

Sales of new homes rose to a seasonally-adjusted annual rate of 593,000 sales in September according to the Commerce Department. Although lower than analysts’ expected reading of 600,000 sales, September’s reading surpassed August’s reading of 575,000 sales. August’s reading was downwardly revised from its original reading of 609,000, which suggests that new home prices are growing at a slower rate than expected.

High demand for homes boosted September’s reading for pending home sales, which represents homes under contract for sale that have not closed. Pending home sales increased in September with a reading of 1.50 percent growth as compared to August’s negative rate of -2.50 percent. Pending home sales provide indications of future completed sales and mortgage loan volume.

Mortgage Rates Rise, New Jobless Claims Fall

Mortgage rates were lower last week according to Freddie Mac’s Primary Mortgage Market Survey. The average rate for a 30-year fixed rate mortgage fell five basis points to 3.47 percent; rates for a 15-year fixed rate mortgage averaged 2.78 percent, which was one basis point lower than the prior week’s reading. The average rate for a 5/1 adjustable rate mortgage was also one basis point lower at 2.84 percent. Average discount points were 0.60, 0.50 and 0.40 percent respectively.

In spite of growth in home prices and volume of sales, consumer confidence slowed in October. October’s index reading of 98.60 as compared to an expected reading of 101.00 and September’s reading of 103.50. Analysts said that uncertainty over the upcoming presidential election contributed to October’s lower reading.

What’s Ahead

Next week’s scheduled economic reports include readings on inflation, construction spending core inflation, and labor reports. Non-farm payrolls, ADP employment, national unemployment rates will also be released. Freddie Mac’s mortgage rates report and new jobless claims will also 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

1834 N Mitchell Street Phoenix, AZ 85006

$629,000

3 Beds

2 Baths

1,218 SqFt

Status Active

MLS # 6775620

Property Type Single Family Residence

Price Type --

This historic bungalow is truly as good as it gets, and on one of the best streets in Coronado Historic District. The original 1937 bungalow has been carefully preserved, but just about all the major systems have been recently upgraded to modern (over $120K). The house is cozy, but flows bigger with the original two bedrooms and bath on the front side of the house, and the split addition of the master suite on the rear. The front room features updated floors (2024), fireplace and gorgeous light. Modern kitchen features custom cabinets, exposed brick wall and all new appliances. Completely remodeled master suite. OWNED SOLAR!!! Multiple hospitals close by as well as close to freeways, Downtown Phx and much more.

View Property

1700 E Lakeside Drive Unit 65 Gilbert, AZ 85234

$629,000

2 Beds

2 Baths

1,777 SqFt

Status Active

MLS # 6761143

Property Type Townhouse

Price Type --

Beautifully situated in Breckenridge Bay sits this meticulously appointed single-level townhouse! Upon entry, enjoy ample natural lighting, generous-sized open living and dining areas, vaulted ceilings & warm color tones throughout. The gorgeous dark wood floors contrast perfectly with bright silver-gray-colored walls. The vibrant Kitchen boasts granite tops and stainless steel appliances all accented with natural white cabinetry. Both bedrooms have newer LVT flooring and the main bath has been impressively remodeled to 5-Star Resort standards! Ideally located just steps away from the clubhouse, full amenities, and the lakes.... living in Val Vista Lakes is resort Lifestyle Living at its best!

View Property

2360 N 165th Drive Goodyear, AZ 85395

Open House

$629,000

2 Beds

2.5 Baths

2,066 SqFt

Status Active

MLS # 6780641

Property Type Single Family Residence

Price Type --

Expanded Cortez Model with 2.5 Bathrooms and two bedrooms plus Den/Office. Home has been impeccably maintained. Home is being sold with all furnishings in the home. Just bring your clothes and toothbrush. The screened in porch is great for entertaining and comes complete with BBQ grill and patio furnishings. Two car expanded garage is roomy with custom shelving and did I mention it also has a golf cart garage. Large fully fenced backyard for your furry friends.

View Property

2066 S Martingale Road Gilbert, AZ 85295

$628,900

3 Beds

2.5 Baths

2,708 SqFt

Status Active

MLS # 6779585

Property Type Single Family Residence

Price Type --

This two-story home has OWNED SOLAR and a spacious design, offering 3 bedrooms, 2.5 bathrooms, a cozy den, and an airy loft area. Inside, you'll find an large kitchen designed for both cooking and entertaining, complete with ample counter space, gas stove, and an oversized pantry ideal for all your storage needs. The large primary bedroom serves as a peaceful retreat and connects to an en-suite bathroom with dual sinks and a walk-in closet. The additional bedrooms are well-sized, perfect for family or guests. The den offers a flexible space perfect for a home office, library, or playroom and the upstairs loft provides a bonus area for lounging, a second family room, or a study zone. Exterior was painted in 2022. Backyard has new pavers and easy to maintain turf.

View Property

6895 N 79th Place Scottsdale, AZ 85250

$628,000

2 Beds

2 Baths

1,052 SqFt

Status Active

MLS # 6781366

Property Type Townhouse

Price Type --

Welcome to CAMELVIEW GREENS, an exclusive townhome community ideally located in the heart of Scottsdale. This meticulously maintained, TURNKEY residence features a well-appointed 2-bedroom, 2-bath split floor plan. REMODELED in 2020. Upgrades include premium quartz countertops, elegant wood-look vinyl flooring, multi-functional kitchen shutters, glide-out drawers, custom shelves, updated hardware, SS appliances with Bosch smart dishwasher and wine fridge. NEST and Ring. Soaring ceilings, and recessed lighting throughout with upgraded, modern ceiling fans. The low-maintenance backyard is by design with pavers, turf, rock, and drip system for ease of care. The community offers a gated entrance, beautifully landscaped grounds, and thoughtfully designed common areas, as well as a heated pool and spa. Situated just minutes from Old Town Scottsdale, Fashion Square, Camelback Mountain, Spring Training fields, Talking Stick Resort, walking and biking trails, golf courses, fine dining, and a host of other amenities, this residence presents an exceptional opportunity for upscale living. Don't miss the chance to own this MOVE-IN-READY home in one of Scottsdale's most sought-after communities.

View Property

31510 N 24th Drive Phoenix, AZ 85085

$628,000

3 Beds

2.5 Baths

2,026 SqFt

Status Active

MLS # 6570906

Property Type Single Family Residence

Price Type --

Beautiful Modern Appeal. Multiple Upgrades. High ceilings and Great Lighting make this home feel expansive. Gourmet Kitchen with gas range and hood. Oversized Quartz Waterfall countertop. GE Profile Appliances. Electric blinds, large farmhouse sink, water softener. 2-Large Screen Wall Mounted TV's included. Nest thermostats. Low maintenance backyard with Gas lined Fire Table, Gas Grill, Artificial turf and Tiled patio. Lights and Irrigation on timers. Energy efficient rated home. Community Pool and BBQ. There is also a dog park conveniently located close to this home. Excellent Location, close to shopping and restaurants! Great Investment Opportunity!

View Property

13300 W Red Hawk Drive Peoria, AZ 85383

$628,000

2 Beds

2 Baths

1,926 SqFt

Status Active Under Contract

MLS # 6782879

Property Type Single Family Residence

Price Type --

Light and bright with neutral color pallet throughout, this model-like home filled with upgrades and ready for immediate move-in is the trophy property of Trilogy. When it's all about the details, there's no overlooking the clean lines, contemporary finishes and sophisticated style present. Vertical plank porcelain tiles are carried throughout leading past the guest quarters, home office, and into the great room and gourmet kitchen. Here, you'll find a gas cooktop, built-in stainless steel appliance package, wine chiller, granite countertops paired with white cabinetry providing plenty of storage. A pantry and optional 'SMART SPACE' are just around the corner. Included with the high-end washer and dryer, sink, upper and lower cabinetry there's a workstation here too. Crafting, hobbies, 2nd office are all possible. A natural flow to the open floor plan spotlights the 90 degree angle WALL OF GLASS connecting two rooms where the gas fireplace of the exterior becomes the focal point. This award-winning Shea Home faces south allowing the warmth of the sun to gently illuminate the yard in a gentle even distribution year round. The two-car garage has been extended 4 feet and can accommodate larger vehicles or more room for storage. Take a look at the areal shots of the neighborhood. There are trails and walking paths just outside your door. The vibrant community of Trilogy at Vistancia is alive with community events, golf, tennis, pickle-ball, crafting, fitness classes, gourmet eateries... there's endless options to partake in. Whether you're looking for your forever home or respite from the cold, this picture-perfect property provides style, convenience and practicality.

View Property

11329 E Savannah Avenue Mesa, AZ 85212

$628,000

4 Beds

2.5 Baths

3,080 SqFt

Status Active Under Contract

MLS # 6745817

Property Type Single Family Residence

Price Type --

You will fall in love with this huge corner lot property that exhibits pride of ownership in East Mesa. Notice the fantastic curb appeal and easy to maintain and beautiful landscaping. It has separate living & family rooms and either tile or wood flooring throughout.Kitchen offers upgraded cabinetry with a ton of storage space, gas cook top stove, wall ovens, island with breakfast bar, &granite countertops. The laundry has extra cabinets & sink. There are 4 spacious bedrooms, 2.5 baths, and fantastic loft. In the primary bath there is a garden tub, separate shower, walk-in closet, and private toilet room. The backyard is an oasis with covered patio and swimming pool. Meticulously maintained home by original owners. New Roof, paint, laminate floors in 2024. A/C units routinely maintained.

View Property

20951 E Via Del Sol Street Queen Creek, AZ 85142

$627,777

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6729504

Property Type Single Family Residence

Price Type --

WOW- PRICE REDUCED $7,500. IN ADDITION, SELLER CONSESSION AVAILABLE TOWARDS CC OR RATE BUYDOWN with Rates As Low As 3.875% when Financing Thru Builder's Preferred Lender(s). Located close to Queen Creek Marketplace Shopping, Dining & Entertainment, this Community has Parks, Soccer Field, Basketball Courts, & 8-Mile Walking Trail. This Beautiful Cul-de-sac home has Primary Suite & Bedroom 4 on Lower Level with 2 Bedrooms Up! White Shaker 42'' Cabinets with Gourmet Stainless Gas Cooktop, Double Wall Ovens w/Microwave. Quartz Kitchen Countertop, Tiled Kitchen Backsplash, Tiled Extended Shower at Primary Bath, Plank Tile Flooring, Stainless Side-by-side Refrigerator, Washer, Dryer & Window Blinds Included! Don't Wait, Come See This Home Today

View Property

22214 N Tournament Drive Sun City West, AZ 85375

$627,500

2 Beds

2.5 Baths

2,910 SqFt

Status Active

MLS # 6750481

Property Type Single Family Residence

Price Type --

This highly desirable Scottsdale model is an open floorplan. The coffered ceiling and plantation shutters throughout give it understated elegance. The primary suite has an oversized bathroom with dual sink vanities, a massive walk in shower plus a jacuzzi tub. The second bedroom has a private bathroom. There is also a den/office. The kitchen opens to family room that features a built in gas fireplace. The kitchen has 2 islands, gas range, double ovens & tons of storage. There is a convenient half bath right off the entertaining area for guests. Guests can spill out into the enormous enclosed patio, as well as the open patio, while hosting & entertaining. The 2.5 car garage gives that perfect space for the golf cart. Roof underlayment #30 LB in 2024. PAINT color appears darker in photos.

View Property

15029 W Minnezona Avenue Goodyear, AZ 85395

$627,100

4 Beds

2.5 Baths

3,368 SqFt

Status Active

MLS # 6755950

Property Type Single Family Residence

Price Type --

WOW. SELLER WILL GIVE $8,000 CREDIT TO THE BUYER AT CLOSING, and wow FULLY paid off and OWNED SOLAR and solar heated pool! HUGE SAVINGS! This LUXURY retreat home features countless upgrades: highly upgraded engineering wood flooring, mini-split A/C units in the garage, a Tesla charging station, and custom finishes at every turn!!! This exceptional home greets you with lush desert landscaping, creating a serene and inviting entrance. Once inside, you're welcomed by soaring ceilings that open up the space and create a bright, airy atmosphere. The seamless flow between the expansive living and family rooms is perfect for gatherings and entertaining, offering plenty of space for relaxation. The heart of the home is the chef's kitchen, designed to impress with granite countertops, a large center island, a convenient breakfast bar, and sleek black stainless steel appliances. The 42'' cherry cabinets add a touch of elegance and provide ample storage. The first-floor master suite is a luxurious retreat, featuring real wood flooring that adds warmth and character. The remodeled bathroom boasts an oversized shower, creating a spa-like experience. Backyard is a true OASIS!! Outdoor living is equally impressive, highlighted by a grand 8'x6' stone fireplace, perfect for cozy evenings under the stars. Whether hosting or relaxing, this home offers both style and practicality for modern living. The 3 car garage is super spacious, every owner's dream!! This home is a MUST SEE!!

View Property

7683 W Avenida Del Rey -- Peoria, AZ 85383

$626,940

4 Beds

3 Baths

2,219 SqFt

Status Active

MLS # 6680063

Property Type Single Family Residence

Price Type --

Brand new community in North Peoria! Stunning 4 bedroom/ Guest Retreat / 3 full bath home with 2.5 car tandem garage located at the Retreat at Aloravita. This home includes professionally designed features and finishes. The kitchen includes beautiful white quartz countertops, tile backsplash, stainless steel gas appliances and white shaker style cabinets. Upgraded woodplank style tile flooring. Cultured marble tops at baths. 8' doors with upgraded hardware and the home is ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability.

View Property