What’s Ahead For Mortgage Rates This Week – August 1, 2016

Last week’s economic reports included S&P Case-Shiller Housing Market Indices, reports on new and pending home sales, Freddie Mac’s weekly mortgage rates survey. The Federal Reserve released its customary statement after the scheduled Federal Open Market Committee meeting concluded; the Committee did not raise the federal funds rate of 0.25 percent, but indicated that economic risks were fewer, which suggested that the key Fed rate may be increased in September.

According to the S&P Case-Shiller 20-City Home Price Index for May, home price growth dipped from 5.40 percent in April to 5.20 percent in June as calculated on a seasonally-adjusted annual basis. Portland, Oregon led the 20-City Index with 12.50 percent growth in home prices annually. Seattle, Washington and Denver, Colorado rounded out the top three with readings of 10.70 and 9.50 percent annual growth respectively. Eight cities posted faster growth rates in May than for April. Analysts again cited short supplies of available homes and high demand for homes as reasons for rising home prices.

New and Pending Home Sales Increase

Sales of new homes reached a seven-year high and rose to 592,000 in June as compared to expectations of 562,000 new homes sold and May’s reading of 572,000 new homes sold. Analysts have consistently said that building more homes is the only way to solve the shortage of available homes. Rising sales of new homes are a step in the right direction, but builders cited labor shortages and lack of buildable land as hindering their ability to meet demand for homes.

Pending home sales also rose in June with an increase of 0.20 percent.Analysts expected new home sales to rise by 1.30 percent based on May’s negative reading of -3.70 percent. Pending home sales data assists with estimating future closings and demand for mortgage loans.

Fixed Mortgage Rates Rise

Freddie Mac reported higher mortgage rates for fixed rate mortgages; 5/1 adjustable rates held steady. The average rate for 30-year adjustable rate mortgages was three basis points higher at 3.48 percent; the average rate for a 15-year fixed rate mortgage was also three basis points higher at 2.78 percent. The average rate for a 5/1 adjustable-rate mortgage was unchanged at 2.78 percent. Average discount points held steady at 0.50 percent for all three mortgage types.

What‘s Ahead

This week’s economic releases include reports on personal income, inflation, and core inflation. Several reports on employment will be released including ADP payrolls, Non-farm payrolls, and the national unemployment rate. Weekly reports on mortgage rates and new unemployment claims are also expected.

Click Here to See What Your Home is Worth

Listing types.

For Sale

For Rent

Land

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

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

4112 E Roy Rogers Road Cave Creek, AZ 85331

New

$729,900

4 Beds

3 Baths

2,002 SqFt

Status Active

MLS # 6705396

Property Type Single Family Residence

Price Type --

This exquisite residence boasts 4 bedrooms and 3 baths, offering a perfect balance of comfort and elegance. Step inside to the spacious and inviting floor plan, where high ceilings and an abundance of natural light create an inviting atmosphere. The heart of this home is the gourmet kitchen, with s/s appliances, sleek granite countertops, and ample cabinet space. However, the true highlight of this residence lies outback. The phenomenal backyard oasis was designed for outdoor entertainment and leisure. Surrounded by travertine tile, the sparkling, heated, pool and spa offers a refreshing escape from the desert heat. Whether you're lounging by the pool, unwinding in the spa, on cool evenings, this meticulously landscaped backyard provides endless opportunities for relaxation and enjoyment. Combining luxury, comfort, and convenience, this home is ideally located near schools, shopping, and dining, offering the best of desert living.

View Property

12237 W Ashby Drive Peoria, AZ 85383

Open House

New

$729,900

4 Beds

2.5 Baths

2,476 SqFt

Status Active

MLS # 6705959

Property Type Single Family Residence

Price Type --

If you're looking for the good life, this is it! Coveted corner lot in Vistancia Village with the natural Sonoran Desert preserve close by for easy access to the Discovery Trail. This single level split 4 bedroom/2.5 bath WITH POOL boasts an open floorplan, with 10-foot ceilings for a WOW entry. Hard surface flooring and plantation shutters throughout. Expansive dining/living areas allow for flexible use, leading to the gourmet kitchen: 5-seat island breakfast bar, stone quartz counters, and lots of gorgeous upgraded Knotty Alder cabinets w/rope crown molding, raised panel doors and deco posts under the gas cooktop, with eat-in area and access to the beautiful backyard. Move in summer ready with a Shasta stone pool with water feature, plus ramada with barbeque. Easy care yards w/lush... desert landscaping, turf, and auto-irrigation system. Primary bedroom suite w/ separate tub, shower, dual sink vanity, and large walk-in closet. The home's front and back entrance doors have Titan security-lock Meshtec screen doors for cross ventilation and peace of mind. Car enthusiast or at-home tinkerer? The 4-car garages (1 single which has its own AC mini split + 3-car tandem with cabinets, workbench, and refrigerator) give vehicles (street and off-road toys) the protection they deserve and the added storage you need. And when you feel like peopling, there's the renowned Vistancia community center with clubhouse, 3 swimming pools (including a heated lap pool), waterslides, tennis and pickleball courts, and gymnasium. Stainless appliances convey. Hurry! This gem will go quickly!

View Property

4355 S Synapse Drive Mesa, AZ 85212

$729,500

5 Beds

3.5 Baths

3,545 SqFt

Status Active

MLS # 6671849

Property Type Single Family Residence

Price Type --

Welcome to this stunning neighborhood! Step into this fantastic 5-bedroom, 3.5-bathroom home boasting a 3-car garage. Indulge in culinary delights in the kitchen, equipped with stainless steel appliances, ample granite counter space, and a convenient center island for effortless meal preparation. Revel in the bright interior adorned with neutral laminate floors and plush carpeting in key areas. Retreat to the primary bedroom offering plush carpeting, a generously sized closet, and an ensuite bathroom featuring dual sinks. Outside, the drought-resistant backyard ensures easy maintenance. Don't hesitateâ€''seize the opportunity to make this exquisite home yours today! The seller may request a 30-45 day post-possession period following the closing if the buyer agrees.

View Property

6734 W Molly Lane Peoria, AZ 85383

Open House

$729,070

5 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6692359

Property Type Single Family Residence

Price Type --

North/South facing Lot! Now selling! This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Stork' floorplan features 5 full bedrooms plus a game room and a multipurpose room, 3 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Home is under construction, with estimated completion June**Interior photos show spec home from a different community, options will vary**

View Property

8195 E Del Marino Drive Scottsdale, AZ 85258

$729,000

3 Beds

3 Baths

2,259 SqFt

Status Active

MLS # 6667694

Property Type Townhouse

Price Type --

Seeking a spacious townhome with the ultimate guest suite or home office solution? Look no further! This delightful McCormick Ranch property offers the perfect blend of comfortable living and private quarters. The main residence boasts 2 bedrooms, 2 bathrooms, and over 2,000 square feet of light-filled living space. Enjoy the easy maintenance of non-carpeted floors, a separate formal living and dining area, a cozy family room with a wet bar and fireplace, and a south-facing patio overlooking the common area. The entire interior has been recently refreshed with new paint, and for peace of mind, the entire plumbing system was updated in 2023. But the true gem of this property lies beyond the gated front courtyard. Here, you'll find a private casita offering ......... additional living space with a separate entrance, bedroom, and bathroom. This versatile space is ideal for hosting guests, creating a dedicated work-from-home haven, or indulging in your hobbies. Location is key, and this home sits just off Hayden & Via Linda, putting you close to everything Scottsdale has to offer, from the vibrant energy of Old Town to the convenient access of the 101 freeway and the shopping delights of Kierland Commons. Additionally, the established neighborhood fosters a friendly community with a Neighborhood Watch program for added peace of mind. Don't miss this fantastic opportunity to own a piece of McCormick Ranch perfection!

View Property

1207 N Arrowhead Drive Payson, AZ 85541

$729,000

4 Beds

3 Baths

3,712 SqFt

Status Active

MLS # 6672244

Property Type Single Family Residence

Price Type --

This large home is an entertainers delight with PLENTY of room for everyone with over 3700 sf total!! The beautiful, amazing kitchen is HUGE, has been completely remodeled and has a connected deck perfect for grilling. Each guest bedroom also has it's own covered deck with a new 6 person hot tub on one of those decks. There is also another deck with views of the Mogollon Rim at the front entry. In the backyard there is a private, beautiful gazebo for enjoying summer evenings outside. The 960 sf guest house is also beautiful with its own entry, covered deck, full kitchen, bathroom and laundry. Come see this one in person, you will be happy you did!!! There is also a possibility of assuming the current VA loan at a great rate!!

View Property

4301 E Desert Marigold Drive Cave Creek, AZ 85331

$729,000

3 Beds

2 Baths

2,029 SqFt

Status Active

MLS # 6676871

Property Type Single Family Residence

Price Type --

Beautiful Tatum Ranch home on one of the largest lots in the neighborhood. Prim location situated at the end of a cul-de-sac that is walking distance to Desert Willow elementary school. Bright and open floor plan with 12 ft + ceilings. This home is an entertainers dream with large pool and cascading spa, sunken Tiki bar with a grill and tv. The perfect place to enjoy the AZ sunshine. Plenty of space in the yard for kids or pets. Also has an RV gate leading to a large paved area for additional parking if needed. Numerous upgrades in 2021-2022 include full roof replacement, two bathroom full showers and sinks, marble look ceramic floor tiles in kitchen and master suite, quartz kitchen countertops, dish-washer, carpet in two bedrooms and walk-in closet, pool filter and pump motor, 52 ceiling fans with LED lights and remote control in all rooms, and more. Low maintenance landscaping with programmable irrigation system.

View Property

11122 E Sleepy Hollow Trail Gold Canyon, AZ 85118

$729,000

3 Beds

2.5 Baths

1,854 SqFt

Status Active

MLS # 6679120

Property Type Single Family Residence

Price Type --

This home is in a great location in Gold Canyon a corner acre lot with NO HOA and has incredible views of the Superstition Mountains! The main house has 2 full bedrooms, a den and a loft that could be converted for an additional bedroom if desired! Plus, there is a separate one room Casita with a full bath for added space and the perfect mother-in-law set up! Private pool fully fenced along with the side yard that would be perfect for your pets. Enclosed 29x11 Arizona room allows for you to enjoy the views of the Superstitions right in the comfort of your home. 3 car garage has lots of additional storage and this home is ready for your personal touches and updates. You can paint your vision and improve to your tastes as the bones are good. Call today for your own personal tour.

View Property

26031 N Medelice Lane Rio Verde, AZ 85263

Open House

$729,000

3 Beds

2.5 Baths

2,479 SqFt

Status Active

MLS # 6686749

Property Type Single Family Residence

Price Type --

Nestled in the heart of the beautiful Rio Verde active adult community, this custom territorial home is easy walking distance to the clubhouse for fine dining and golf The nearby community center offers a brand new workout facility, billiards room, and library. Enjoy meeting friends at the Tennis, Bocce or Pickleball courts or go for a refreshing swim in the sparkling lap pool. Situated on an oversized lot providing ample privacy, Enjoy quiet evenings relaxing on your covered back patio with room to entertain large gatherings. This welcoming 3 bed/2.5 bath 2 car garage is being sold furnished. Enjoy premium Arizona living.

View Property

1427 E Blue Spruce Lane Gilbert, AZ 85298

$729,000

5 Beds

3 Baths

2,550 SqFt

Status Active

MLS # 6689953

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gated and sold-out community of Waterston. This upgraded Smart Home is just over a year old and comes with all the bells and whistles. Blue Spruce boasts 5 bedrooms & 3 bathrooms, offering ample space for comfortable living & entertaining. As you step inside, you'll be greeted by natural light through the open floor plan. The well-appointed kitchen features upgraded appliances, ample cabinet space, walk in pantry, & a large island perfect for casual dining and hosting gatherings. The oversized slider leads to an extended covered patio and a backyard with views to the San Tan Mountains. Generously sized bedrooms provide retreats for relaxation, while the bathrooms offer both style and convenience. Not only is the home perfection, so is it's location! The home is a two minute walk to Rice Elementary School, a 3 minute walk to the beautiful community pool, the clubhouse and several parks! This prime Gilbert location cannot be beat! See attached document for a list of upgrades found throughout this beautiful home

View Property

10316 W Encanto Boulevard Avondale, AZ 85392

$729,000

3 Beds

2 Baths

2,048 SqFt

Status Active

MLS # 6691935

Property Type Single Family Residence

Price Type --

Hard to find, Desirable 1+ acre lot. Your spacious dream! Large mature trees are spread throughout lot. Split floor plan. 3 bedrooms, 2 bathrooms. Large master suite with fireplace, separate shower/tub, 2 sinks and walk in closet. Covered and uncovered patio to entertain large groups with built in BBQ, firepit, and fireplace. Lighted sport court and children's play area. Separate storage/workshop area with garage door and side door. Minutes from shopping, dining, entertainment and easy access to Loop 101 and i-10.

View Property

3025 W Sentinel Rock Road Phoenix, AZ 85086

$729,000

5 Beds

2.5 Baths

3,178 SqFt

Status Active

MLS # 6692680

Property Type Single Family Residence

Price Type --

Welcome to luxury living in the prestigious Tramonto Community! This expansive 2-story home boasts 5 bedrooms, 2.5 baths, and over 3200 square feet of thoughtfully designed space sits on one of the best corner view homesites in the community. Sellers infused personality into the kitchen, making meal prep a joy. Smart appliances become your sous chefs, while marble countertops and a custom backsplash provide the perfect platform for your culinary creations. Step inside and be greeted by the elegance of imported Italian slate flooring that flows throughout the first floor. A cozy fireplace warms the living room, while the soaring ceilings in the great room create an air of grandeur. The first floor offers a versatile layout, perfect for entertaining. There's a formal liv Welcome to luxury living in the prestigious Tramonto Community! This expansive 2-story home boasts 5 bedrooms, 2.5 baths, and over 3200 square feet of thoughtfully designed space sits on one of the best corner view homesites in the community. Sellers infused personality into the kitchen, making meal prep a joy. Smart appliances become your sous chefs, while marble countertops and a custom backsplash provide the perfect platform for your culinary creations. Step inside and be greeted by the elegance of imported Italian slate flooring that flows throughout the first floor. A cozy fireplace warms the living room, while the soaring ceilings in the great room create an air of grandeur. The first floor offers a versatile layout, perfect for entertaining. There's a formal living room, a dining room, and a light-filled great room with a 20-foot ceiling. The primary suite is a luxurious retreat, featuring a large walk-in closet, a separate fully upgraded shower and soaking tub, and dual custom vanities. Upstairs, three additional bedrooms and a game loft provide ample space for the whole family as well as a second floor outdoor seating area to enjoy the Arizona sunsets Don't miss your chance to own this stunning piece of Tramonto!

View Property