What’s Ahead For Mortgage Rates This Week – September 6, 2016

Last week’s economic reports included readings on pending home sales, construction spending and consumer sentiment. Case-Shiller Home Price Indices for June were released, along with several labor-related reports including national unemployment, ADP Payrolls and Non-Farm Payrolls were also released along with weekly readings on new jobless claims and Freddie Mac’s survey of average mortgage rates.

Case-Shiller: Home Price Growth Holds Steady in June

According to the Case-Shiller 20-City Home Price Index for June, average national home prices held steady with a seasonally adjusted annual growth rate of 5.10 percent in June. The top three cities for home price growth were Portland, Oregon with a reading of 12.60 percent; Seattle, Washington followed with a reading of 11.00 percent. Denver, Colorado home prices grew by 9.20 percent year-over-year.

San Francisco, California, which had posted highest year-over-year price gains in recent months slipped with a reading of 6.40 percent year-over-year in June. This could signify a cooling of rapid price gains in high demand metro areas where home prices have become unaffordable for many buyers.

Construction Spending Flat in July, Pending Home Sales Increase

While builder sentiment has been strong, construction spending was flat in July as compared to an expected reading of 0.60 percent and June’s reading of an 0.90 percent increase in construction spending. The Commerce Department reported that pending home sales increased 1.30 percent in July, which exceeded expectations of 0.90 percent growth and June’s negative reading of -0.80 percent. July’s reading appeared to even out June’s unexpected slump in pending sales, which are considered an indicator for future closings and home loan volume.

Mortgage Rates, New Jobless Claims Rise

Mortgage rates rose for all three loan types reported by Freddie Mac. The rate for a 30-year mortgage rate rose three basis points to 3.46 percent; the average rate for a 15-year mortgage also rose three basis points to 2.77 percent. The average rate for a 5/1 adjustable rate mortgage jumped by eight basis points to 2.83 percent. Discount points averaged 0.50 percent, 0.50 percent and 0.40 percent respectively. Mortgage rates rose after the yield on 10-year Treasury Notes increased in response to a speech given by Fed Chair Janet Yellen that indicated that the target federal funds rate could be raised in December.

263,000 new jobless claims were filed as compared to expectations of 265,000 new claims and the prior week’s reading of 261,000 new claims. Job growth slowed in August; the Commerce Department reported a reading of 151,000 new jobs in its Non-Farm Payrolls report. Analysts expected 170,000 new jobs, which fell significantly short of July’s reading of 275,000 jobs created. Non-Farm Payrolls includes data for public and private sector jobs.

Labor Reports: Job Growth Slows, National Unemployment Holds Steady

ADP Payrolls also reported fewer private sector jobs created in August with a reading of 177,000 new jobs as compared to 194,000 private sector jobs created in July. Analysts characterized August jobs reports as “fickle” due to high numbers of summer vacations and company-wide summer holiday closures.

August’s reading for national unemployment held steady at 4.90 percent.

While slower growth in home prices and job creation could signal an economic slowdown, there was good news as consumer confidence rose to 101.7 in August; this reading surpassed the expected reading of 97.0 and July’s reading of 96.7.

What’s Ahead

This week’s scheduled economic news is lean due to the Labor Day holiday on Monday. In addition to weekly reports on new jobless claims and mortgage rates, reports on job openings and the Federal Reserve’s Beige Book report will 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

4082 N Monticello Drive Florence, AZ 85132

$564,900

2 Beds

2 Baths

2,352 SqFt

Status Active

MLS # 6784576

Property Type Single Family Residence

Price Type --

This immaculate 2 bed, 2 bath, w/den ''Concord'' model has all of the upgrades and options one would want. Your new home is located on an arroyo lot with no neighbors directly behind or to one side. Close the electric shades and enjoy cool winter nights on your spacious paver patio. Inside your new home is as amazing as out. The kitchen has staggered cherry cabinets, stainless steel appliances, granite countertops, pull out drawers, R/O, pendant lights and a breakfast nook. The spacious primary suite has a separate tub and shower, dual sinks and walk-in closet. More features of the home include plantation shutters, ceiling fans, extra storage in laundry/garage, epoxy floors, 3-car GARAGE w/4 FT EXTENSION, water softener, solar shades, service door, and OWNED SOLAR! SIMPLY A MUST SEE HOME!!

View Property

2505 W Corral Road Phoenix, AZ 85041

$564,900

3 Beds

2.5 Baths

2,406 SqFt

Status Active Under Contract

MLS # 6751747

Property Type Single Family Residence

Price Type --

SELLER TO HELP WITH BUYER FEES TO MAKE THIS HAPPEN IF CLOSED BY 12/15/24. WALK TO SOUTH MOUNTAIN FROM THIS IMMACULATE AND WELL-MAINTAINED, LARGE 3 BEDROOMS, 2.5 BATH (W/ITH DEN/OFFICE). THIS BEAUTIFUL SINGLE LEVEL IS IN A GREAT LOCATION AND NESTLED INSIDE A GATED COMMUNTY FOR PLENTY OF SAFETY AND PRIVACY. PAMPER YOURSELF, AND INDULGE YOURSELF ON A DAILY BASIS., YOU GET A SPACIOUS KITCHEN WITH GRANITE COUNTER TOPS AND LARGE STAGGERED CABINETS, WITH A WALKIN PANTRY, CENTRAL HVAC, AND PROGRAMMABLE THERMOSTATS. TO TOP THIS PUPPY OFF, YOU GET A LARGE 3-CAR GARAGE WITH AWESOME AND HELPFUL NEIGHBORS. THERE IS A LOT OF HIKING TRAILS, BIKE TRAILS, AND HORSEBACK RIDING CLOSE BY, OR SIMPLY STAY HOME AND ENJOY YOUR LARGE BACKYARD.

View Property

2772 S Betty Street Gilbert, AZ 85295

New

$564,900

4 Beds

3 Baths

2,067 SqFt

Status Active

MLS # 6785326

Property Type Single Family Residence

Price Type --

Stunning, only lived in one year, 4/3 with all appliances in great location with community pool. Easy care yard, stainless appliances, granite counters, ceiling fans and much more! This one is a must see on any list! Come and see me today!

View Property

296 W Burtons Lane Tonto Basin, AZ 85553

$564,900

3 Beds

3 Baths

2,240 SqFt

Status Active

MLS # 6695245

Property Type Single Family Residence

Price Type --

Nestled amidst the serene landscape of Tonto Basin, this exquisite property at 296 W Burtons Lane offers a unique blend of luxury and tranquility. Spanning over 6.14 acres of pristine land, you're guaranteed privacy with no possibility of neighbors building close by. The estate boasts a fully-equipped RV hookup, perfect for the adventurous at heart. The grounds are a horticultural delight with multiple fruit trees dotting the landscape, providing both shade and bounty. The residence itself offers phenomenal views of Mount Ord, Four Peaks, and Picture Mountain, ensuring a picturesque backdrop to your daily life. Inside, the home welcomes you with a totally remodeled kitchen, featuring Brazilian granite countertops, a spacious walk-in pantry, and all new appliances. The property also includes horse stalls, catering to equestrian enthusiasts. Also, the brand-new bridges across Tonto Creek to be finished in June.

View Property

3422 E Ravenswood Drive Gilbert, AZ 85298

$564,900

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6718352

Property Type Single Family Residence

Price Type --

Located in Seville Golf & Country Club neighborhood! 3 bedroom, 2 bath home with pool, built-in BBQ and extensive upgrades. Gourmet kitchen with granite countertops, walk-in pantry with frosted glass door, maple cabinets, island and peninsula bar top. Formal dining and kitchen nook. Family room with french door exits to backyard. Master Suite with two walk-in closets, double sinks, tile surround bathtub and shower. Backyard Oasis! Travertine pavers surround the sparkling pool. Covered ramada with built-in BBQ. Wood shutters. 2 car garage. This home resides in the prestigious Seville Golf & Country Club and close to neighborhood park! Owned Solar, enjoy low SRP bills.

View Property

3862 E Narrowleaf Drive Gilbert, AZ 85298

$564,900

4 Beds

3 Baths

1,940 SqFt

Status Active

MLS # 6747524

Property Type Single Family Residence

Price Type --

This charming home, located in the highly sought-after Bridges at Gilbert, is brimming with character and ready for its next owner. Meticulously maintained and turn-key ready, this residence features an open-concept floor plan that seamlessly combines a spacious living area with upgraded plank tile flooring, soaring vaulted ceilings, granite countertops, and modern cabinetry. The generously sized primary bedroom, tucked away at the rear of the home, offers privacy and direct access to the backyard. A Jack and Jill bathroom serves an oversized secondary bedroom, providing convenience and functionality. The split and open floor plan enhances the home's cozy yet private atmosphere. The RO system and Water softener are owned and convey with the property. With professional low-maintenance landscaping, impressive curb appeal, practical updates, community amenities, and an unrivaled location, this property is the perfect place to call home.

View Property

1020 N Blue Marlin Drive Gilbert, AZ 85234

$564,900

5 Beds

3 Baths

2,610 SqFt

Status Active Under Contract

MLS # 6760750

Property Type Single Family Residence

Price Type --

BRING ALL OFFERS! Assume Loan 2.75%, No HOA, 5-bed 3-bath directly across from community park. 2 new HVAC systems installed in 2021, vaulted ceilings, and abundant natural light throughout. Formal living & dining areas, wood-look floors & modern neutral tones, creating a warm & inviting atmosphere. Cozy family room just off spacious eat-in kitchen, granite countertops, stylish white cabinetry, stainless steel appliances, a center island & convenient pantry. Primary bedroom retreat w/ double doors, bay window, space for sitting area. Ensuite bathroom has dual sinks, walk-in closet & separate soaking tub & shower. Versatile downstairs bedroom and full bathroom provides comfort & flexibility, perfect for guests or multi-generational living. Great backyard for outdoor dining & entertaining.

View Property

11840 N 59th Lane Glendale, AZ 85304

$564,850

4 Beds

3 Baths

2,523 SqFt

Status Active

MLS # 6673649

Property Type Single Family Residence

Price Type --

Beautifully Designed Single Level Multi-Generational Home with Split Floorplan located in The Gated Community of Cholla Cove. Two Master Bedrooms, Two Additional Bedrooms, Spacious Den/Office, Wide Hallways, and comes with Plenty of Storage. Relax out by the Saltwater Play Pool or Enjoy the Plush Grass. *Solar Panels are Owned* Home is monitored by ADT, Vacuflo Central Vac, Envirotec Water Softner System, Large Tile, Granite Countertops, Epoxy Garage Floors, Professionally Landscaped, and many more upgrades included with this property. Home is located across the street from the Mailbox and Green Belt with Ramada where it sits on an Interior Lot in a Quite Sought-After Community,

View Property

10539 E Corbin Avenue Mesa, AZ 85212

New

$564,000

3 Beds

2.5 Baths

1,788 SqFt

Status Active

MLS # 6786971

Property Type Single Family Residence

Price Type --

Experience luxury in this gorgeous 3-bedroom home in the highly sought after community of Eastmark! Minutes away from grocery stores, restaurants, and shopping. The elegant stone-accented exterior and 3-car tandem garage with workshop set the stage for sophistication. Inside, you'll find wood porcelain tile, shutters, and a neutral palette complementing the great room's charm, all enhanced by pre-wired surround sound. The sleek kitchen is a chef's delight, featuring stainless-steel appliances, wall ovens, granite counters, a mosaic backsplash, a pantry, and an island with a breakfast bar.The main suite offers a spa-like retreat with dual sinks, a soaking tub, and a walk-in closet. Relax in the tranquil backyard with a covered patio and cozy fire pit. This is an amazing home-don't miss it!

View Property

1972 W Olive Way Chandler, AZ 85248

$564,000

3 Beds

2 Baths

1,910 SqFt

Status Active

MLS # 6744573

Property Type Single Family Residence

Price Type --

Welcome to this captivating 3-bedroom, 2-bath residence in Montefino Village! Discover a welcoming living/dining room with high ceilings, a soothing palette, classic plantation shutters on the new Low E windows, and contemporary wood-look flooring. The inviting family room is perfect for gathering loved ones, featuring sliding doors leading to the backyard for seamless indoor-outdoor living. The gourmet kitchen comes with durable tile counters, ample wood cabinetry with crown moulding, recessed lighting, SS appliances, a pantry, and a two-tier island/breakfast bar. The main bedroom offers plush carpeting, an ensuite with dual sinks, and a walk-in closet. The backyard oasis showcases a covered patio and a refreshing pool for cooling down on hot days. This gem will sell fast!

View Property

886 S Avenida Escuela -- Sierra Vista, AZ 85635

$564,000

4 Beds

4 Baths

3,060 SqFt

Status Active

MLS # 6745314

Property Type Single Family Residence

Price Type --

LARGE PRICE REDUCTION!!! Fully remodeled 4 BR 4 BA and 2 car garage. Home is on a large .88 acre lot with landscaping & pecan trees. Large fully covered front porch with beautiful metal door imported from Mexico has serious curb appeal. The back yard is fully enclosed with block walls & large covered patio. interior of the home features new custom tile floors, modern light and plumbing fixtures, fully remodeled kitchen & bathrooms. The windows are new and dual paned. The living room has a see through wood burning fireplace connecting to the dining area. The kitchen has new cabinets with granite countertops, new dishwasher & stove. The master bedroom is good size with two closets and large corner shower. Each bedroom has it's own private bathroom. .

View Property

26990 W Burnett Road Buckeye, AZ 85396

$564,000

2 Beds

2 Baths

1,961 SqFt

Status Active

MLS # 6760185

Property Type Single Family Residence

Price Type --

Delightful 2-bedroom residence on a golf course lot! Be greeted by a 3-car garage, an impeccably designed front yard, & courtyard entry. The inviting family room boasts high ceilings, recessed lighting, a built-in media center, & surround sound speakers. Enjoy gourmet meals in the eat-in kitchen featuring granite counters, staggered cabinets w/crown moulding, stylish backsplash, pendant lighting, built-in appliances, a pantry, built in wine rack & an island w/breakfast bar. The primary bedroom offers an ensuite w/double sinks & walk-in closet. Den with French doors. Spend quiet afternoons in the enchanting backyard boasting a covered patio w/travertine tiles, a built-in BBQ w/dry bar, a warm firepit w/sitting areas, low-maintenance artificial turf & serene golf course views.

View Property