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

42516 N Kenworthy Road San Tan Valley, AZ 85140

$750,000

3 Beds

2 Baths

1,248 SqFt

Status Active Under Contract

MLS # 6743851

Property Type Manufactured Home

Price Type --

Coveted 3.4 acres with flood irrigation, ready for your custom home or spec. Live in the mobile home or rent it out until your dream home is ready. The 40x60 shop can handle all your toys at 18' extra height, with 2 insulated roll up doors, and a 9'' concrete pad with rebar & steel. Property is gated and fully fenced with a separate arena for your horses. Near new 24 freeway and the area is booming with development. Don't sleep on this one.

View Property

6974 S Hohokam Place Gold Canyon, AZ 85118

$750,000

3 Beds

2 Baths

2,380 SqFt

Status Active

MLS # 6758006

Property Type Single Family Residence

Price Type --

Nestled in a private cul-de-sac on a sprawling .4 acre lot, this highly upgraded custom home offers a true entertainer's paradise with breathtaking views of the Superstition Mountains and protected open desert behind. Experience luxury with a self-cleaning pool, cozy fire pit, and multiple covered seating areas in the vast backyard. The thoughtfully designed split floor plan features 3 bedrooms plus a den and 2 exquisitely remodeled bathrooms. Travertine and plank wood flooring flow throughout the home. The gourmet kitchen boasts beautiful slab granite counters, high-end appliances and opening to the dining and family room for seamless entertaining. The master suite is a retreat with a custom walk-in shower, striking copper tub, bespoke vanity, two closets, and a stylish

View Property

120 E Rio Salado Parkway Unit 101 Tempe, AZ 85281

$750,000

2 Beds

2 Baths

1,742 SqFt

Status Active

MLS # 6732987

Property Type Apartment

Price Type --

Experience concierge, resort style living on the waterfront! This Gorgeous, renovated smart home sits poolside with a 300 sq' private, walk out patio with direct, gated access exclusive only to ground floor units. Tile flooring throughout with the warmth of the wood plank look. Chef's kitchen with stainless steel smart appliances w/ quartz island. $10k automatic Hunter Douglas smart blinds. The split floor plan features an oversized master with a large sitting area. HOA covers all luxury amenities, water, gas, electric, 2 reserved underground parking spaces as well as private locked storage. Owners can enjoy all outdoor amenities in Edgewater and next door at Bridgeview. 120 East is located in the heart of downtown Tempe next to Tempe Beach Park, Tempe Marketplace, ASU and Mill Avenu

View Property

13308 N 93rd Place Scottsdale, AZ 85260

$750,000

3 Beds

2 Baths

1,542 SqFt

Status Active

MLS # 6734341

Property Type Single Family Residence

Price Type --

Freshly remodeled and updated Beautiful Home in Desert Shadows 2 Neighborhood. This home can be the right one for a large variety of buyers. We have New Flooring, Remodeled Kitchen with Quartz Counters and Tile Backsplash. Both Bathrooms redone and the entire inside freshly painted. Added storage in raised ceiling closets Nice Open Floor Plan with vaulted ceilings that is great for Entertaining and opens out to oversized patio and backyard with Citrus Trees and Mature Landscaping. This home needs to be seen and experienced in person. Location is fantastic and close to Freeway and some of the finest shopping Scottsdale has to offer.

View Property

19550 N Grayhawk Drive Unit 1039 Scottsdale, AZ 85255

New

$750,000

2 Beds

2.5 Baths

1,645 SqFt

Status Active

MLS # 6760998

Property Type Apartment

Price Type --

Welcome to Cachet at Grayhawk, nestled in the heart of Scottsdale, Arizona. This neighborhood offers a refined living experience with its exclusive guard-gated entry, ensuring peace of mind for all residents. Stroll or bike along the scenic paths that wind through the community, or start your day with a brisk tennis match followed by a refreshing dip in the community pool. For golf enthusiasts, a beautifully manicured golf course awaits, offering endless rounds of enjoyment. With soaring ceilings, this 1,645 square foot home has 2 spacious bedrooms and a den, 2.5 baths, and 2 car garage with additional storage. Mountain views from a covered patio are sure to delight on that crisp winter morning in Arizona. And the sunset and sunrise...simply amazing. Welcome to your new home!

View Property

8533 W Desert Elm Lane Peoria, AZ 85383

$750,000

5 Beds

3.5 Baths

3,118 SqFt

Status Active

MLS # 6696966

Property Type Single Family Residence

Price Type --

Owners just moved and Active again! Great house w/ an even better lot!!! This beautiful home sits on a very private corner lot so that you can enjoy the open space behind you from your very own resort like backyard. One of the few homes available that has a private casita (243sqft) for extended family or the occasional guest. This home has great flooring throughout, the eat in kitchen has granite counters, double ovens, built in wine rack, and large walk in pantry with additional storage under the stairs. The very spacious primary suite is conviently located on the main level. There is also a large loft that has been partitioned to create a 6th bedroom plus and has a balcony to enjoy the mountain views.. You don't see many 6 beds plus a loft in this price range. This home won't last!

View Property

511 School Street Jerome, AZ 86331

$750,000

3 Beds

3 Baths

1,736 SqFt

Status Active

MLS # 6745290

Property Type Single Family Residence

Price Type --

turn key Airbnb offers three separate suites, live in one or rent the entire home. Downstairs features 2 separate en-suites. Upstairs has been beautifully remodeled with Porcelain wood plank tile floors throughout, newer appliances in kitchen, open and bright with lots of windows for views, new paint inside out and pavers. Master suite deck is the perfect place to watch the sunset. Enjoy nature in the lush backyard and 8 ft waterfall feature. Make this your home today

View Property

4315 N 16th Avenue Phoenix, AZ 85015

$750,000

3 Beds

3.5 Baths

2,000 SqFt

Status Active

MLS # 6734515

Property Type Single Family Residence

Price Type --

This 1948 home has been fully reconstructed with an added touch of modern flair. Located in a cul-de-sac in the desirable Bel Air neighborhood, this home was rebuilt from studs including an addition, creating a 3 bedroom / 3.5 bath modern home with a private ensuite in every bedroom. The massive kitchen features custom teak cabinets, a generous pantry, extra large island, stainless steel appliances, and a 36'' gas range. The home features a presidential ceiling in the living room, lvp flooring thoughout, custom pocket doors, an office, laundry room, and a huge back yard ready for you to create your dream oasis. There is no HOA and this home is located mins away from 2 major freeways, downtown, light rail, shopping and hospitals.

View Property

9263 E Karen Drive Scottsdale, AZ 85260

$750,000

3 Beds

2 Baths

1,720 SqFt

Status Active

MLS # 6692041

Property Type Single Family Residence

Price Type --

Discover luxurious living in this meticulously designed single-family home at 9263 E. Karen in Scottsdale, AZ. With 3 bedrooms and 2 bathrooms, this stunning residence offers a perfect blend of comfort and elegance. Step inside to find an open-concept layout, accentuated by high ceilings and an abundance of natural light, creating an inviting atmosphere. The gourmet kitchen features high-end appliances, custom cabinetry, and exquisite countertops, ideal for culinary enthusiasts and entertaining guests. The spacious master suite offers a peaceful retreat with a spa-like ensuite bathroom and ample closet space. Outside, the meticulously landscaped backyard provides a private sanctuary with a covered patio and a sparkling pool, perfect for outdoor gatherings and relaxation. Situated in a prime and one of the most desirable Scottsdale locations, this prestine home offers convenient access to many upscale shopping centers, exquisite five-star dinning facilities, multiple outdoor recreational activities, world renown golfing, equestrian facilities, hiking trails and more. With the extremely low inventory of similar homes in this coveted residential area, buyer's should seize upon this unique opportunity to experience the luxury living at its finest. Time is fleeting and you should take action before this desert oasis is gone!

View Property

15819 W Silver Breeze Drive Surprise, AZ 85374

$750,000

3 Beds

3 Baths

2,959 SqFt

Status Active

MLS # 6738465

Property Type Single Family Residence

Price Type --

UPGRADED BRIARWOOD SERIES HOME in GRAND! Tuscan elevation w/ stone accents provides great curb appeal. Upgrades & interior touches for this home including: Gorgeous ceilings in the living/dining room & Master Suite with coffered ceilings, crown molding & special lighting touches, Plantation shutters throughout, French doors at 3 Bed / Den, Granite counters invkitchen, custom Cherry media center w/ gas fireplace, Powder half bath, private guest suite & updated shower, skylights, central vac, cabinets & sink in utility room plus a water softener. Luxurious Main Suite - dual closets, glass block snail shower, dual sinks, soaking tub & more. Approx $115K in upgrades! Gas BBQ Stub & Covered Patio! *Newer Roof* w./ 20 Year Warranty! Freshly painted exterior trim. Live the GRAND LIFE!

View Property

4427 E Melinda Lane Phoenix, AZ 85050

New

$750,000

4 Beds

2 Baths

1,962 SqFt

Status Active

MLS # 6757814

Property Type Single Family Residence

Price Type --

This designer upgraded home in Desert Ridge comes with all high end finishes. It features hand scraped engineered hardwood, Turkish travertine in the bathrooms and laundry room, upgraded granite countertops, 42'' soft close custom cabinets, Kenmore Elite SS appliances, central vacuum and is wired for surround sound. The master suite features a resort like bathroom with travertine surround shower, a glass shower enclosure, Wyndam collection free standing tub, designer double sinks and a huge walk in closet. The heated pool was just re surfaced with pebble sheen and a gas fire pit was added in the lushly landscaped green back yard. The garage features epoxy flooring and storage shelves. Don't miss out on this one of a kind home!

View Property

1921 E Greentree Drive Tempe, AZ 85284

$750,000

3 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6759757

Property Type Single Family Residence

Price Type --

This beautifully maintained Tempe home offers everything you've been looking for and more! Recent upgrades include a new roof, pool equipment, turf, attic insulation, fresh interior paint, and a brand new washer and dryer. The home features mature desert landscaping, North/South exposure, and sits on a corner lot. Inside, the flagstone courtyard leads to a formal living and dining area with vaulted ceilings and French doors. The kitchen boasts stainless steel KitchenAid and Maytag appliances, white cabinetry, granite countertops, and a breakfast nook. The primary suite offers direct patio access and a luxurious ensuite including a soaking tub and separate shower. Outside, enjoy the Pebbletec pool, spa, turf grass and no HOA! Goodwin Park just seconds away has a playground + basketball!

View Property