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

21076 N 58th Way Phoenix, AZ 85054

Open House

$709,310

3 Beds

2.5 Baths

2,120 SqFt

Status Active

MLS # 6725483

Property Type Townhouse

Price Type --

IGNORE DAYS ON MARKET HOMES ARE ALMOST DONE PICTURES COMING SOON! STEP RIGHT UP TO PURCHASE THE HOME OF YOUR DREAMS!! Finishing construction in September this home is waiting for you! The interior hints sophistication with maple-colored cabinets, granite countertops, and wood-like tile. Having no neighbors directly behind you just adds to the serenity of this home. Actual home photos will be added soon!

View Property

573 E Citrus Hollow Way Queen Creek, AZ 85140

$709,228

2 Beds

2 Baths

1,928 SqFt

Status Active

MLS # 6567505

Property Type Single Family Residence

Price Type --

Indulge in the epitome of refined living with this exquisite 2 bed, den, 2 bath home, boasting over 1,900 sq. ft. of luxury and elegance. From the moment you step inside you'll notice this Nice plan has detail found throughout. The heart of the home is a culinary enthusiast's dream - a gourmet kitchen that exudes sophistication with its pristine white cabinets and an impressive array of high-end stainless steel appliances. Whether you're whipping up a quick breakfast or preparing a lavish feast, this kitchen is sure to inspire your inner chef. The thoughtfully upgraded baths elevate your daily routine to a spa-like experience, featuring tasteful finishes and modern fixtures. Imagine unwinding in the serene ambiance of your master bath after a long day. This home is ready for you!

View Property

2845 Mustang Trail Overgaard, AZ 85933

$709,000

3 Beds

2 Baths

1,600 SqFt

Status Active

MLS # 6751307

Property Type Single Family Residence

Price Type --

View Property

3576 E Lawndale Place Queen Creek, AZ 85142

$709,000

4 Beds

2 Baths

2,431 SqFt

Status Active

MLS # 6751537

Property Type Single Family Residence

Price Type --

Nestled in the tranquil landscape of Queen Creek, AZ, this stunning residence offers boundless mountain views on a sprawling property of over one acre, suitable for horses. It features four large bedrooms and two contemporary bathrooms, with significant upgrades such as new roofing and flooring. The charm of the home is enhanced by its freshly painted exterior. A versatile workshop/garage on the property is ideal for a range of projects or storage. With no HOA restrictions! This home is an ideal choice for those in search of peace and space.

View Property

9462 E Mogollon Trail Gold Canyon, AZ 85118

$709,000

3 Beds

2.5 Baths

2,082 SqFt

Status Active

MLS # 6734327

Property Type Single Family Residence

Price Type --

Welcome to this Exceptional Custom Home. This New Custom Build is exclusive in Gold Canyon and located on the last lot in Hermosa Hills. Home features a Spacious Layout, 2x6 Exterior Frame Construction, Urethane Foam, Exterior Stone, Trane HVAC, Fireplace, Electric Car Charging Station, Nest Thermostats, Waterfall Island, Quartz Countertops, Kitchen Island, Custom Tile Showers, Epoxy Garage and so much more. Home is near Dinosaur Mountain, Hiking Trails, Shops, and Golf Courses. Completion November 2024.

View Property

675 W Longhorn Drive Chandler, AZ 85286

$709,000

4 Beds

2.5 Baths

2,376 SqFt

Status Active

MLS # 6727788

Property Type Single Family Residence

Price Type --

The Enchantment located in Alma School Place w/ proximity to freeway, shopping and entertainment this newly updated one level home features a lovely back yard oasis with heated play pool, spa and ''Baja Shelf'' for tanning. Bordering properties are one level creating a more secluded private backyard. The home interior includes shuttered windows, gas fireplace, ceiling fans in bedrooms, den, and family room. ''Nest'' thermostats enable temperature control access even while away from home. Split bedroom floor plan allows master bedroom privacy. A two car garage connects directly to the house via a spacious laundry room w/ sink and storage, a separate single car garage offers plenty of additional storage. Kitchen includes walk in pantry and new stainless appliances. New A/C and exterior p

View Property

3448 N Boulder Canyon Circle Mesa, AZ 85207

$709,000

3 Beds

2 Baths

2,325 SqFt

Status Active

MLS # 6696321

Property Type Single Family Residence

Price Type --

This is your slice of paradise nestled on a beautifully landscaped culdesac with only 1 neighbor for backyard privacy. Stunning single level home with 3 BRs and an exercise/office room that has AC/heat & closet with outside & garage access. Popular Desert Willow model has an eat in kitchen with an extensive addition of cabinets, breakfast bar peninsula overlooking a large great room. Soaring ceilings. Huge primary suite with direct access to the backyard/pool. 2 generous sized guest rooms. All new wood look tile, carpet and baseboards in 2023. New outside paint in 2024. Easy care yard with new irrigation lines in front & back. Backyard built in barbecue, sun patio, covered patio, flagstone decking around a sparkling heated play pool with peaceful waterfall. Beautiful desert landscaping

View Property

4438 N 27th Street Unit 18 Phoenix, AZ 85016

$709,000

3 Beds

2.5 Baths

2,154 SqFt

Status Active Under Contract

MLS # 6654471

Property Type Townhouse

Price Type --

Seller may carry! Luxurious and well-equipped poolside unit in the gated Rosedale Residences nestled in the highly sought after and Biltmore Corridor. French Influenced design by Architect Bing Hu adds a touch of timeless luxury to the urban setting boasting 11-foot ceilings, White Shaker Cabinets, Gorgeous finishes, Stunning Wood Floors, and more. Light from the generous windows creates a spacious and airy feeling. Gourmet kitchen opens to dining and living area. Upstairs features stunning dual primaries with en-suites and walk-in closets great for added storage. Cozy 27 home community wows with exquisite mountain views and resort-style amenities, including a stunning pool, heated spa, and BBQ area, contribute to an elegant living experience. Welcome Home!!

View Property

22900 E Thornton Road Queen Creek, AZ 85142

$708,925

4 Beds

3 Baths

2,746 SqFt

Status Active

MLS # 6653115

Property Type Single Family Residence

Price Type --

Very well designed ''Redwood'' plan w/ 4 Bedrooms, Den & 3 Baths,, 3 car tandem garage, Also, includes a Gourmet Kitchen w/ SS Chimney Hood, Beautifully upgraded 42'' cabinets , w/ Upgraded Quartz C-top & Tile backsplash, Master Spa Shower , Laundry room sink, Tankless Water Heater, Service Garage Door , Atrium Door to patio, ''16 SEER RATING FOR AC '' ENERGY STAR HOME! All this in BARNEY FARMS the newest Premiere Master Planned Community in Queen Creek, w/ RESORT like atmosphere, LAKE COMMUNITY w/ a Large Amenity Center, 2 large Community Pools, Pickle Ball, Bocce Ball, Sand Volleyball, Walking Trails, Docks to launch Kayaks & Canoes, catch and release fishing, Ramada's , Greenbelts thru-out and Tree Line Streets. Barney Farms also has KMB K-6 School in Community.

View Property

8353 W Bajada Road Peoria, AZ 85383

$707,500

5 Beds

3.5 Baths

2,723 SqFt

Status Active Under Contract

MLS # 6724317

Property Type Single Family Residence

Price Type --

Experience elegance in this impeccable, move-in-ready haven. Upgraded granite countertops in the kitchen and baths, complemented by chic rubbed bronze fixtures and classic wood plantation shutters throughout. This spacious 5 BD/3 ½ BA home features 2 MASTER SUITES (one is ADA compliant), exudes livability. The exterior is equally impressive with pavers in the front courtyard, RV gate, and a beautifully landscaped lot backing to a serene wash with BREATHTAKING VIEWS. The outdoor living area is an ENTERTAINER'S DREAM, featuring a sparkling pool, cozy fire pit, built-in BBQ, and bar with seating - perfect for hosting gatherings. Nestled in the beautiful, quiet neighborhood of WestWing Mountain, this home offers both tranquility and community. PRICED TO SELL QUICKLY. Buyer could not perform

View Property

2967 E Cherry Hill Drive Gilbert, AZ 85298

$705,990

5 Beds

3.5 Baths

2,938 SqFt

Status Active

MLS # 6746041

Property Type Single Family Residence

Price Type --

BRAND NEW KB HOME. This two-story home features an open floor plan with an 8-ft. entry door and 9-ft. first floor ceilings. The spacious great room opens to a charming covered back patio, perfect for entertaining. The kitchen boasts a large center island, quartz countertops, a gorgeous tile backslash, and sleek KitchenAid® appliances. You'll find vinyl plank flooring throughout the first level, laundry and bathrooms and stain-resistant carpeting upstairs. The first level includes an open den, powder room and bedroom with full bath. Moving upstairs, the spacious loft is the perfect spot for family movie nights. The primary suite boasts an expansive closet, and the primary bath features a walk-in shower, extended dual-sink vanity, and two linen closets.

View Property

7380 W Bent Tree Drive Peoria, AZ 85383

$705,789

4 Beds

3 Baths

2,185 SqFt

Status Active

MLS # 6746324

Property Type Single Family Residence

Price Type --

This WONDERFUL NEW 2024 home on a premium lot w/mountain views is OVERFLOWING w/over $89k of DESIGNER upgrades! Professionally landscaped front yard w/faux grass and paver driveway! BEAUTIFUL GOURMET kitchen w/gas cooktop, quartz countertops, waterfall island, urban cabinets + stainless appliance suite incl. fridge! Great room/dining room w/tons of windows! SPLIT primary bedroom suite w/LUXURIOUS ensuite bath w/ BIG walk-in shower! Bring your own backyard design to this PRIVATE backyard w/covered porch and create the oasis of your dreams! This property has too many upgrades to list here! Come see for yourself. Welcome HOME!

View Property