What’s Ahead For Mortgage Rates This Week – September 19, 2016

Last week’s economic news included reports on retail sales, inflation, and weekly reports on mortgage rates and new jobless claims.

Retail Sales Slip as Consumer Prices Inch Up

Retail sales dipped into negative territory in August with a reading of -0.30 percent as compared to expectations of -0.10 percent and July’s reading of +0.10 percent. Retail sales excluding auto sales were better at +0.30 percent. Analysts expected a reading of +0.20 percent based on July’s reading of -0.40 percent. August’s negative reading for retail sales was the first negative report since March.

Inflation fared better than retail sales with August’s Consumer Price Index reading at 0.20 percent. Analysts expected a reading of 0.10 percent; July’s reading was flat. Core Consumer Price Index readings for August are less volatile, as the Core CPI does not include readings for food and energy costs. August’s Core CPI reading was 0.30 percent. A reading of 0.20 percent was expected; July’s reading was 0.10 percent. It appears that inflation is creeping upward, but remains well below the Fed’s target reading of 2.0 percent.

Mortgage Rates, New Jobless Claims Rise

Freddie Mac reported higher mortgage rates across the board last week. The average rate for a 30-year fixed rate mortgage rose six basis points to 3.50 percent; the average rate for a 15-year fixed rate mortgage rose one basis point to 2.76 percent and the average rate for a 5/1 adjustable rate mortgage rose one basis point to an average of 2.82 percent. Average discount points were 0.50 for 30 and 15-year fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Low mortgage rates have helped home buyers, especially first-time and moderate income buyers, meet affordability challenges. Home prices have risen due to low numbers of available homes and high demand for homes. If mortgage rates continue to rise, fewer buyers will be able to qualify for mortgages and or afford asking prices for available homes.

Next week’s meeting of the Fed’s Federal Open Market Committee is expected to bring news of a Fed decision on raising the target federal funds rate. If the Fed raises its rate, consumer interest rates for mortgages, vehicles and other goods can be expected to increase as well.

What‘s Ahead

This week’s economic news includes the NAHB Housing Market Index, Commerce Department reports on housing starts and building permits issued and a Fed Statement at the conclusion of its Federal Open Market Committee meeting on Wednesday. Fed Chair Janet Yellen is also slated to give a press conference after the FOMC statement. The National Association of Realtors will also release a report on sales of previously owned homes.

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 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

9016 S 16th Way Phoenix, AZ 85042

$835,000

4 Beds

3.5 Baths

2,866 SqFt

Status Active

MLS # 6704055

Property Type Single Family Residence

Price Type --

NO HOA, built in 2021 w/ stunning mountain & city views. 4 bed/3.5 bath, 2,850 sqft home on a large lot w/ highly upgraded, modern finishes. Crafted with impeccable attention to detail, this home features a striking custom entry door that opens to a vast, open floor plan designed to maximize both space and comfort. Upon entry, you are greeted by the tall vaulted ceilings, giving the main living area a grand feel. This home is light & bright w/ ample natural light. The kitchen is a chef's dream w/ an abundance of custom white cabinets, granite countertops, back splash, long center island, pantry & modern pendant lights... Entertain guests in the spacious living area, complete with a wet bar. The living room is anchored by a cozy stone fireplace, creating a warm and inviting ambiance. Downstairs, a full bathroom boasts a modern, light-filled design, featuring sleek fixtures. The large primary retreat is located on the main floor w/ a gorgeous ensuite featuring a modern tile floor & shower, upgraded modern fixtures, double sinks, storage shelves, and a large standing tub perfect for relaxation after a long week. Upstairs, 3 spacious bedrooms offer flexible living spaces that can be tailored to your lifestyle needs such as a home office, gym, craft room, children's rooms, or guest room. The front and back yards are beautifully landscaped. A newly installed block wall fence in the backyard ensures privacy. Located off a cul-de-sac, the home offers spectacular views of the mountains and the cityscape, providing a breathtaking backdrop for both everyday live and gatherings. This home includes 2-car garage & owned water softener system. This home is equipped w/ foam insulation throughout, providing added energy efficiency and comfort. Conveniently located near popular hiking trails, restaurants, and more!

View Property

4619 E Sierra Sunset Trail Cave Creek, AZ 85331

$835,000

3 Beds

2 Baths

2,096 SqFt

Status Active

MLS # 6752655

Property Type Single Family Residence

Price Type --

Welcome Home!!! This gorgeous 3 bedroom 2 bath home at the desirable gated community of Ashler Hills Ranch in Cave Creek is in a fantastic location. Close to restaurants, shopping, schools, parks, multiple golf courses & a short drive to enjoy Bartlett Lake or Lake Pleasant. You'll love the open concept floor plan of this home. Your kitchen offers black appliances (S/S fridge), granite counter tops with full height granite backsplashes, a walk in pantry & a large island/breakfast bar for extra prep & storage. Your spacious master suite offers a plethora of natural light from your bay windows, a walk in closet, dual vanity, a walk in shower & soaking tub to relax in. This gated community home also offers upgraded ceiling fans & lighting, vaulted ceilings, diamond laid tile flooring, along with a 3 car garage with a water softener & cabinets for extra storage & organization. Your backyard oasis was designed for entertaining. It includes a covered patio, extended travertine patio flooring, mature landscaping, a view fence, as well as a travertine gas fire pit & a sparkling heated pebble tech pool & spa to enjoy all year round. This gem in the desert is a Great Buy & a Must See!!!

View Property

21097 E Sparrow Drive Queen Creek, AZ 85142

$835,000

3 Beds

2.5 Baths

2,516 SqFt

Status Active

MLS # 6755103

Property Type Single Family Residence

Price Type --

Discover an enchanting 3-bedroom + 2 den home looking for its new homeowners! This beauty displays a 3-car garage, paver driveway, timeless stone accents and is an ADT smart home. The perfectly flowing open floor plan will impress you with wood-look tile flooring, bountiful natural light, pre-wired surround sound and a whole house water softener system. Well-appointed kitchen is a chef's dream, fully equipped with a pantry, quartz counters, recessed & pendant lighting, abundant white cabinets with crown moulding, a prep island with a breakfast bar, mosaic tile backsplash, and top-of-the-line SS appliances such as double wall oven & electric cooktop. Romantic main retreat boasts plush carpet, a sunny bayed window sitting area, an ensuite with dual sinks, and a walk-in closet. Adding to the haven's functionality are the sizable den/office and a bonus room. Tranquility awaits in the spacious backyard, which provides a covered patio, artificial turf, and a sparkling pool, promising hours of fun & relief from the summer heat. Don't let this great opportunity pass you by!

View Property

6806 E Orion Drive Scottsdale, AZ 85257

$835,000

3 Beds

2.5 Baths

2,005 SqFt

Status Active

MLS # 6755597

Property Type Single Family Residence

Price Type --

A rare find! Located in the gated Community of Skye on Mcdowell, this highly desirable 3-bedroom haven boasts modern features throughout. Inside, the spacious open floor plan showcases wood-look tile flooring & surround sound. Natural light fills the space through wide sliding glass doors, blending the interior w/the outdoor living. Chef's kitchen is a delight, fully equipped w/recessed & pendant lighting, a pantry, plenty of white cabinets, stainless steel appliances, quartz counters, a waterfall island w/a breakfast bar, & a subway tile backsplash. Continue upstairs to find the cozy loft ideal for a reading nook. The main retreat highlights plush carpet, private balcony, & an ensuite w/dual sinks. Enjoy relaxing evenings on the balcony or unwind under the covered patio in the backyard. Don't miss to take a quick dip in the Community pool. What's not to like? Make it yours before it's gone!

View Property

22812 E Excelsior Avenue Queen Creek, AZ 85142

$835,000

3 Beds

2.5 Baths

2,771 SqFt

Status Active

MLS # 6715449

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER! BRING ALL OFFERS! Fantastic opportunity in highly desirable Harvest of Queen Creek. This stunning home features 3 spacious bedrooms, 2.5 bathrooms plus an office with quality 2x6 construction. Situated on a premium, large corner lot. Open floorplan with a generous owner's retreat with a luxurious tiled shower and large walk-in closet with custom shelving. You will fall in love with this upgraded chef kitchen that boasts an oversized island, a gas cooktop, and beautiful satin marble quartz countertops. Huge backyard with covered patio and built in ramada and grill is perfect for entertaining! Within walking distance to the community center with two pools, splash-pad, playground, and a lake.

View Property

7780 E Phantom Way Scottsdale, AZ 85255

$835,000

3 Beds

2 Baths

1,814 SqFt

Status Active Under Contract

MLS # 6710153

Property Type Single Family Residence

Price Type --

GORGEOUS single level home in Grayhawk! This is desert living at its best with incredible attention to detail. Offering over 1,800 sq. ft., this spacious home has 3 beds/2 baths and is move in ready. This is the perfect 2nd home with the ease of lock & leave or a great primary home. The open kitchen features stainless steel appliances, granite counter tops, reverse osmosis system and open directly to the resort style backyard that takes backyard entertaining to a whole new level & was truly designed so that one could enjoy Arizona's beautiful weather year round with easy maintenance. Ideal North/South facing lot. Amazing location with every convenience at your fingertips. Walking distance to schools, restaurants, groceries, salons, banks, health care facilities, hospital, and much more!

View Property

4905 W Magellan Drive New River, AZ 85087

$835,000

4 Beds

2.5 Baths

3,337 SqFt

Status Active

MLS # 6684902

Property Type Single Family Residence

Price Type --

Beautiful Home in Arroyo Grande Subdivision with 4 Bedroom, 2.5 Bath + Office/Den, 3 car garage in North Phoenix. Home has 3337 s/f split bedroom floor plan, computer/study area by secondary bedrooms. Kitchen has contemporary white cabinets, double ovens, large island, and granite counter tops. Home sits on a corner 14,000+ s/f lot with RV Gate that allows RV and Boat parking with RV hook up and located in a cul-de-sac. Backyard backs to the desert with view fencing, a dog run, concrete pad for basketball court, large grassy area and RV parking for your toys.

View Property

5145 E Pinchot Avenue Phoenix, AZ 85018

$835,000

4 Beds

3 Baths

1,962 SqFt

Status Active

MLS # 6696424

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Phoenix with stunning Camelback Mountain views! This exquisite residence boasts custom features at every turn, from the elegant marble and travertine entry to the luxurious Thomasville Cherry cabinets in the gourmet kitchen. Picture yourself relaxing by the custom gas fireplace or enjoying the serene Koi pond in your private backyard oasis with a built-in grill and patio bar, perfect for entertaining guests. With two master bedrooms, including a lavish travertine bathroom, and dual-pane windows throughout, this home offers both comfort and style. Don't miss the chance to make this your own retreat near Arcadia, Biltmore, Scottsdale, and downtown Phoenix!

View Property

26521 N 115th Street Scottsdale, AZ 85255

$835,000

2 Beds

2 Baths

1,625 SqFt

Status Active

MLS # 6694284

Property Type Single Family Residence

Price Type --

Private lot with boulder and mountain views on a quiet street in the Troon Area of Scottsdale. The home features two bedrooms, two baths, great room, kitchen and breakfast dining, office, laundry and a two car garage with built-in storage cabinets. The private backyard has a pebbletec pool and covered patio with no homes behind to block your views. Desert Views is a small quiet community with access to hiking and biking trails and very little traffic. The home is extremely well maintained and lightly lived in which provides the new owner to move in and enjoy the Arizona lifestyle.

View Property

5880 S Joslyn Lane Gilbert, AZ 85298

$835,000

5 Beds

3.5 Baths

4,115 SqFt

Status Active

MLS # 6721447

Property Type Single Family Residence

Price Type --

Welcome to your new oasis in Gilbert's highly sought-after neighborhood! This immaculate 5-bedroom, 3.5-bathroom home is perfectly situated on a spacious lot, offering both privacy and convenience. As you enter, you are greeted by a bright and airy floor plan highlighted by soaring ceilings and large windows that bathe the interior in natural light. The gourmet kitchen is a chef's dream, featuring granite countertops, stainless steel appliances, ample cabinet space, and a generous island - ideal for preparing meals and entertaining guests. The luxurious master suite provides a serene retreat with a spa-like ensuite bathroom complete with dual vanities, a soaking tub, and a separate shower. Four additional bedrooms offer versatility for guests, children, or home offi space, all complemented by well-appointed bathrooms. Step outside to your own private backyard paradise, where you'll find a covered patio, perfect for al fresco dining or simply relaxing while enjoying the Arizona sunsets. The expansive yard is professionally landscaped and offers plenty of space for outdoor activities and gatherings. With a bonus casita with private entrance which can be versatile for guests or as an office space. Located in a prime Gilbert location, this home is just minutes away from top-rated schools, shopping, dining, parks, and recreational facilities. With easy access to major highways, commuting to Phoenix and beyond is a breeze.

View Property

7157 E Rancho Vista Drive Unit 2010 Scottsdale, AZ 85251

$835,000

2 Beds

2 Baths

1,346 SqFt

Status Active

MLS # 6661401

Property Type Apartment

Price Type --

*SELLER FINANCING AVAILABLE IN THE LOW 5'S * This luxury, completely remodeled 2 bedroom condo with modern finishes is a stunning residence that exudes sophistication and style. Every detail of this condo has been meticulously designed to create a luxurious living experience. Large windows allow for an abundance of natural light to flood the room, creating a bright and airy atmosphere. The kitchen is a chef's dream and the countertops are made of exquisite quartz, providing both durability and a sleek aesthetic. The dining area is situated adjacent to the kitchen and is perfect for hosting intimate dinner parties or enjoying meals with family and friends. A modern chandelier hangs above the dining table, casting a warm and inviting glow. The master bedroom is a luxurious retreat, featuring a spacious layout and plush carpeting. It offers a serene atmosphere, allowing you to relax and unwind after a long day. The en-suite bathroom is a sanctuary of relaxation, featuring a spa-like shower with rainfall showerheads, a sleek vanity with modern fixtures, and beautiful porcelain tiles. The second bedroom is equally impressive, with its own spacious layout and ample closet space. It can serve as a guest room, home office, or a comfortable space for family members. Additional features of this remodeled condo include in-unit laundry facilities, central air conditioning, and ample storage throughout the space. Amenities include concierge, indoor & outdoor heated pool and spa with women and men's locker room, fitness center, racquetball & basketball court. Walking distance from Scottsdale Fashion Square Mall, Old Town, restaurants, and so much more!

View Property

21956 N 59th Lane Glendale, AZ 85310

$835,000

5 Beds

3 Baths

3,066 SqFt

Status Active

MLS # 6749945

Property Type Single Family Residence

Price Type --

Amazing views surround this Arrowhead ranch Golf Course home on the signature 5th hole of legends. Mountain, Golf and Water views from every window. Home has 1 full bedroom and bathroom downstairs. Gourmet kitchen, granite countertops, granite in all the bathrooms. Generously sized bedrooms. Extended covered patio, pebbled-tec play pool, close to shops, dining and Westgate Sports and Entertainment center.

View Property