What’s Ahead For Mortgage Rates This Week – September 26, 2016

Last week’s economic news was abundant with releases on home builder sentiment, housing starts, building permits, sales of previously owned homes. The Federal Open Market Committee of the Federal Reserve released its customary statement at the conclusion of its meeting; Fed Chair Janet Yellen also gave a press conference. Weekly readings on new jobless claims and mortgage rates were released as usual.

NAHB: Builder Sentiment Increases in September

Home builder confidence in housing market conditions increased in September according to the National Association of Home Builders Housing Market Index. Builder confidence rose five points to 65; analysts expected a reading of 60 based on August’s reading of 59. NAHB said that September’s reading was boosted by more “serious” buyers entering housing markets.

Components used to determine NAHB HMI readings were also higher. Builder confidence in current market conditions rose six points to 71; builder confidence in housing market conditions over the next six months rose by five points to 71. Builder confidence in buyer traffic in new housing developments rose four points to 48. Buyer traffic readings have not reached 50 since 2005; 50 is a neutral benchmark for NAHB HMI readings.

Home prices continue rising at a higher pace than wages; this is pressuring first-time and moderate income buyers out of the market. An ongoing shortage of available homes is pressing prices higher as demand increases. Analysts pay close attention to the NAHB HMI as building more new homes is a key factor in easing the shortage of homes for sale.

Housing Starts, Building Permits Lower

Commerce Department readings on housing starts and permits issued were lower for August Housing starts were lower in August at 1.142 million starts on a seasonally-adjusted annual pace. Analysts expected 1.182 million housing starts based on July’s reading of 1.212 million starts. Regional readings showed a dip in starts in the South. Severe flooding in Louisiana contributed to the lower reading for housing starts. August’s reading for housing starts was 5.80 percent lower than July’s reading and 0.90 percent lower than for July 2015.

Building permits issued were nearly flat in August; this was likely due to the prime building season winding down 1.139 million permits were issued as compared to 1.144 million permits issued in July. Single-family starts were six percent lower than for July and were 1.20 percent lower year-over-year.

Existing Home Sales Dip: High Demand, Low Supply Cited

Sales of pre-owned homes fell by 0.90 percent in August to a seasonally-adjusted annual rate of 5.33 million sales. Analysts expected a reading of 5.48 million sales; July’s reading for sales of pre-owned homes was 5.38 million sales.

Low inventory of available homes continues to impact housing markets as demand for homes increased and prices rose; the national average home price was $240,000 in August. Rising home prices continued to be driven by high demand and low supplies. These conditions also impacted first-time and moderate income home buyers who were pressured to keep up with rapidly rising home prices.

While mortgage rates remain relatively low, higher home prices and tight mortgage credit requirements remain obstacles for first-time buyers.

Mortgage Rates, Weekly Jobless Claims Lower

Freddie Mac reported lower mortgage rates last week. The average rate for a 30-year fixed rate mortgage fell by two basis points to 3.48 percent; the average rate for a15-year fixed rate mortgage fell on one basis point to 2.76 percent. The average rate for a 5/1 adjustable rate mortgage was lower by two basis points at 2.80 percent.

Analysts expected new jobless claims to remain flat at the prior week’s reading of 260,000 new claims, but 252,000 new claims were filed for the lowest reading since July. The four-week rolling average of new jobless claims fell by 22250 claims to 258,500. The four-week reading is considered a less volatile reading than week-to-week readings.

Federal Reserve: No Increase in Fed Rate

The Federal Open Market Committee said in its post-meeting statement that the target federal funds rate would not be raised. In a press conference given after the FOMC statement, Fed Chair Janet Yellen said that although the economy continued to improve, the Fed had concerns over the labor market and decided not to raise rates. Any increase in Federal Reserve rates triggers increases in consumer lending rates.

What’s Ahead

This week’s readings include Case-Shiller Home Price Indices, readings on new and pending home sales and weekly readings on mortgage rates and new jobless claims.

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

19591 W Lincoln Street Buckeye, AZ 85326

$580,000

4 Beds

2.5 Baths

3,428 SqFt

Status Active

MLS # 6748422

Property Type Single Family Residence

Price Type --

This beautifully upgraded home is the one you've been looking for! Step inside to be greeted by an expansive interior, where soaring ceilings and a calming, contemporary color scheme create a serene ambiance. The sleek tile flooring and modern recessed lighting enhance the sophisticated atmosphere. The kitchen is a true chef's delight, featuring ample cabinetry with elegant crown molding, luxurious quartz countertops, and state-of-the-art stainless steel appliances. The large island, with its breakfast bar, serves as the centerpiece of this culinary haven, complemented by a walk-in pantry that offers plenty of storage. Upstairs, a versatile loft space is ideal for a home office, media room, or play area. The primary suite is a sanctuary of comfort, bathed in natural light and offering a pristine ensuite with dual vanities and a spacious walk-in closet. The impressive outdoor space is designed for entertaining. The extended patio provides a perfect setting for gatherings, whether for a quiet evening or a lively celebration. This is a rare opportunity to own a truly exceptional home, don't miss out!

View Property

710 W 18th Street Tempe, AZ 85281

$580,000

3 Beds

2 Baths

1,792 SqFt

Status Active

MLS # 6743870

Property Type Single Family Residence

Price Type --

1-0 BUY DOWN AVAILABLE WITH THE PREFERRED LENDER! This charming 3-bedroom, 2-bath home is nestled with a gated courtyard, you'll immediately appreciate the serene grass area and shaded patio. The inviting family room seamlessly connects to the entertainer's kitchen, which features a farmhouse sink, stainless steel appliances, and more than ample storage. The warm-toned granite countertops offer generous space, including a breakfast bar and a versatile bar/desk area. The primary bedroom boasting a stylish en suite bath, complete with a spacious walk-in shower and walk-in closet. You'll love the additional storage options, including a hall room for pantry items or a spare refrigerator, a large laundry area with a folding counter and drawer storage, and a dedicated cabinet filled pet/craft/ sport equipment space. The rear bonus room provides flexibility...it could serve as a living, dining, or media room and opens directly to the backyard. Enjoy outdoor living on the expansive rear patio featuring a gazebo, synthetic grass, and a firepit. Plus, the property includes an expansive covered RV parking area, large sturdy sheds, and a garage workshop for all your storage or creative needs. This home truly offers both comfort and functionality! Plus, Clark Park is right next door and is a fantastic place with a wide range of amenities! Here's a quick overview of what you can enjoy there: Community Center: Great for classes, events, and community gatherings. Pool & Splashpad: Perfect for cooling off and having fun in the water. Basketball Courts: Ideal for pickup games or practice. Baseball Diamond: A spot for baseball games and activities. Dog Park: A dedicated space for your furry friends to play. Grills: For BBQs and outdoor cooking. Horseshoes Pit: A fun game for social gatherings. Ramadas: Shaded areas for picnics and parties. Volleyball Court: A place for beach-style volleyball games. Community Garden: A spot to grow plants and vegetables. Playground: A great area for kids to play and explore. It seems like Clark Park has something for everyone, whether you're looking to stay active, relax, or enjoy time with family and friends. Bus and light rail access is nearby - perfect for high school and college student/faculty commuting!

View Property

25958 W Westcott Drive Buckeye, AZ 85396

$580,000

2 Beds

2 Baths

1,862 SqFt

Status Active Under Contract

MLS # 6746921

Property Type Single Family Residence

Price Type --

SPARKLING POOL, SPA ,OWNED SOLAR AND A SEPERATE GOLF CART GARAGE- THIS HOME HAS IT ALL! Enjoy your own private oasis on the Mountain side of Sun City Festival. Nestled on a quiet street, this light and bright home will not disappoint. Many features include- wood plank tile flooring throughout, dual vanity master bath with tiled low threshold shower and a large spacious closet. Kitchen features S/S appliances and granite countertops. The Den is perfect as an office or hobby room. Step thru the center sliding doors to the back covered patio with extended pavers, built-in BBQ, and lush landscaping and your own putting green. The center courtyard is perfect for your morning coffee and is adjacent to the kitchen. Both garages have epoxy flooring. A short walk or drive to the rec center.

View Property

2792 Kona Trail Flagstaff, AZ 86005

$580,000

3 Beds

2 Baths

1,300 SqFt

Status Active Under Contract

MLS # 6756366

Property Type Single Family Residence

Price Type --

Located in a quiet cul de sac in Kachina Village, this single level home offers an abundancy of privacy and forest views. The large, covered deck overlooks a scenic canyon with towering ponderosa pines. The adjacent lot provides a walking path to National Forest. Inside you will find several sizable windows bringing in natural light and providing a wonderful space to view the four seasons that Northern Arizona provides. This is an incredible opportunity to own a move in ready home that grants the right mix of seclusion and convenience. There is a bonus room downstairs that is a blank canvas for a studio, storage, exercise room etc... The furnace and hot water heater were replaced about 3 years ago and a new roof with sheathing is being completed now. Interior paint was done just last week

View Property

11035 W Chino Drive Sun City, AZ 85373

$580,000

4 Beds

2 Baths

2,247 SqFt

Status Active Under Contract

MLS # 6768500

Property Type Single Family Residence

Price Type --

Beautiful Lakefront Home in Ventana Lakes 55+ Community. It has everything you want, 4 bedrooms, 2 bathrooms, 3 car garage, 2 living spaces and an open concept home. Anderson Windows! Tile in all the right areas. This is a ''MUST SEE'' home in this area. You will enjoy the morning sunrises as well as the evening sunsets from your lakefront backyard. Ventana Lakes is one of Peoria's premier 55+ communities. The community features 9 lakes, some with waterfalls, and great catch and release fishing. 4 community pools and spas, recreation and fitness rooms, billiards, fine arts, crafts and quilting rooms, handball, pickleball and tennis courts. Bingo games and more.

View Property

4739 S Leisure Way Gilbert, AZ 85297

$580,000

3 Beds

2 Baths

1,722 SqFt

Status Active Under Contract

MLS # 6769608

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level home in the highly sought-after Layton Lakes community, where modern living meets everyday convenience. This beautifully updated 3-bedroom, 2-bathroom home offers an open and spacious layout designed to maximize both comfort and style. The moment you step inside, you'll notice the gorgeous flooring throughout, free from any carpet, offering a sleek, low-maintenance appeal. Large windows flood the living spaces with natural light, creating a bright and welcoming atmosphere. Recent upgrades include new exterior paint (Aug/Sept 2024), new faucets, and fresh turf (Oct 2024), ensuring a move-in-ready experience. With its east-west orientation, you'll enjoy plenty of sunlight throughout the day. Nestled in a prime location, this home is close to parks... , walking trails, top-rated schools, and easy access to freeways, making it a perfect choice for both families and professionals. The kitchen is the heart of the home, boasting ample cabinetry, modern appliances, and a breakfast bar that's perfect for casual dining or entertaining guests. Retreat to the serene master suite, which features a generous walk-in closet and a private bathroom for your own personal oasis. Outside, the expansive backyard is a landscaped paradise, featuring a variety of plants and a fenced-in poolideal for relaxation.

View Property

3401 N 37th Street Unit 16 Phoenix, AZ 85018

$580,000

2 Beds

2 Baths

1,494 SqFt

Status Active Under Contract

MLS # 6782005

Property Type Townhouse

Price Type --

This stunning 2-bedroom, 2-bathroom townhome, spanning 1,500 square feet in the highly desirable Arcadia Lite area, seamlessly combines modern design with sophisticated elegance. Upon entry, you're greeted by an expansive open floor plan with soaring ceilings, filling the home with a bright and airy ambiance. A perfect balance of natural and designer lighting enhances the luminosity throughout. The kitchen is a chef's dream, featuring premium Taj Mahal stone countertops, an LG appliance package, and a luxurious wine and coffee bar—all complemented by custom designer finishes. Recently upgraded with a new roof and windows, this home is truly move-in ready, complete with high-end amenities. Both oversized bedrooms offer spacious walk-in closets, and the primary bathroom serves as a serene retreat, complete with dual showers and an indulgent soaking tub. Additionally, a versatile flex space within the home provides the perfect setup for a home office or creative studio, adapting to any lifestyle. The private backyard invites relaxation or entertaining, while the two-car garage adds security and ample storage, making this townhome as practical as it is stylish.

View Property

18428 W Robin Lane Surprise, AZ 85387

New

$580,000

3 Beds

2.5 Baths

1,884 SqFt

Status Active

MLS # 6786575

Property Type Single Family Residence

Price Type --

Don't miss your chance to own this stunning home that effortlessly blends charm and practicality. This upgraded single-story layout features 3 spacious bedrooms, a versatile den/office, and 2.5 well-appointed bathrooms. The property includes a 3-car tandem garage and a remarkable 40-foot RV garage, providing plenty of room for all your vehicles, recreational toys, and outdoor gear. Inside, you'll find a thoughtfully designed split floor plan with a convenient storage nook leading to the garage. The chef-inspired kitchen boasts elegant granite countertops, high-end stainless steel appliances, an electric cooktop, and a walk-in pantry—perfect for culinary enthusiasts. Unwind after a busy day in your private backyard oasis, complete with a custom pool and jacuzzi surrounded by stylish

View Property

6418 W Irma Lane Glendale, AZ 85308

$580,000

3 Beds

2 Baths

1,834 SqFt

Status Active Under Contract

MLS # 6774108

Property Type Single Family Residence

Price Type --

Brand New Roof in 2024! Absolutely Stunning 3 Bedroom, 2 Bath, Single Level Home Located on Premium Golf Course Lot, Formal Living & Dining Room w/Vaulted Ceilings, Upgraded Kitchen w/Custom Cabinets & Granite Countertops, Kitchen Island w/Breakfast Bar, Stainless Steel Appliances Included, Family Room w/Wood Burning Fireplace, Master Bedroom w/Walk-In Closet, Master Bathroom w/Dual Sinks, Custom Walk-In Shower & Tub, Tile Throughout Home, Dual Pane Windows, Plantation Shutters, Extended Covered Backyard Patio, Professionally Landscaped Front & Backyard, Variety Of Mature Citrus Trees, Best Backyard in the Community with over Quarter Acre Lot & Wonderful Views of the Golf Course, 2 Car Garage, Cul-De-Sac Lot, Come Check It Out!

View Property

2702 E Saddlebrook Road Gilbert, AZ 85298

$580,000

3 Beds

2 Baths

2,044 SqFt

Status Active

MLS # 6769751

Property Type Single Family Residence

Price Type --

Must see this gorgeous home in highly desirable Adora Trails! Fall in love the minute you pull up; N/S exposure, pavered drive way, wrought iron security door. Neutral colors throughout, split floorplan w/ spacious great room. Wood shutters and crown molding. Gourmet kitchen w/ gas cooktop, granite, R/O system, backsplash, pull out shelves, walk in pantry and SS appliances. 3 bdrm, 2 bath + Den with glass french doors. Garage has built in cabinets & workbench. Laundry room has built in cabinets. Owner suite has classy closet. Owner has taken excellent care of this home adding gutters & fully landscaped backyard w/ grass, trees & areas to relax/entertain in covered space. Very desirable Adora Trails is master planned to include a variety of community & lifestyle amenities! Don't Miss out!

View Property

20627 W Luke Avenue Buckeye, AZ 85396

$580,000

2 Beds

2 Baths

1,577 SqFt

Status Active

MLS # 6752899

Property Type Single Family Residence

Price Type --

Discover this charming 1,577 sq. ft. Single story home located in the vibrant Victory District of Verrado, a premier 55+ active adult community. This beautifully designed residence features 2 spacious bedrooms, a versatile den perfect for a home office and 2 modern bathrooms. With a layout that emphasizes comfort and functionality, you'll enjoy open-concept living areas, stylish finishes, and access to the community's extensive amenities, including golf courses, pickle ball, tennis courts, pools, walking trails, and social clubs. Ideal for those seeking an active, engaging lifestyle in a welcoming neighborhood.

View Property

26218 S Brentwood Drive Sun Lakes, AZ 85248

$580,000

3 Beds

2 Baths

1,823 SqFt

Status Active

MLS # 6779857

Property Type Single Family Residence

Price Type --

Discover this popular Alameda model home, featuring 3 spacious BR and 2 BA in the sought-after Cottonwood Active Adult Community. The primary BR boasts an elegant en-suite with an additional expanded walk-in closet, offering ample storage space. Enjoy luxurious travertine flooring throughout with carpet thoughtfully placed for comfort. Vaulted ceilings in the family room enhance the home's style and openness, while most windows have been recently upgraded for improved energy efficiency. The extended garage includes epoxy flooring, workbench, and abundant storage. Situated on a desirable golf course and lake view lot, this home provides stunning scenery to enjoy from your own backyard with balcony too! Don't miss this exceptional opportunity to own a slice of paradise!

View Property