What’s Ahead For Mortgage Rates This Week – August 22, 2016

Last week’s economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were also released.

Shortages of available single-family homes have driven up home prices and increased competition among homebuyers; short inventories of homes for sale are affecting affordability in many areas, although buyers seem motivated by lower mortgage rates and some easing of mortgage requirements. Analysts have repeatedly said that the only solution to the shortage of homes is building more homes.

Fortunately, the National Association of Home Builders reported that builder sentiment concerning U.S. housing markets increased in August. The HMI moved up to a reading of 60 in August as compared to July’s reading of 58. Readings over 50 indicate that a majority of builders surveyed are confident about housing market conditions.

According to NAHB, home builders continued to face obstacles including shortages of buildable lots and skilled labor. Regulatory issues were also cited by some builders, but overall, builders remain optimistic about housing market conditions.

Housing Starts Up, Building Permits Issued Slip in July

Commerce Department reading s on housing starts and building permits issued were mixed; housing starts rose from July’s reading of 1.186 million permits issued to 1.211 million permits issued in August. July’s reading was the second highest since the recession but was driven by multi-family construction. Building permits were lower in August with a reading of 1.152 million permits issued against July’s reading of 1.153 million permits issued.

Analysts said that under present market conditions, there is little reason for homebuilders to increase single-family home production as current pricing has put many would-be buyers on the sidelines.

Mortgage Rates Mixed, New Jobless Claims Lower

Freddie Mac reported that average rates for 30-year and 15-year fixed rate mortgages dropped last week while the average rate for 5/1 adjustable rate mortgages rose. The average rate for a 30 year fixed rate mortgage was 3.43 percent and the average rate for a 15-year fixed rate mortgage was 2.74 percent; both readings were two basis points lower than for the prior week. The average rate for a 5/1 adjustable-rate mortgage was two basis points higher at 2.76 percent. Average discount points held steady for fixed rate mortgages at 0.50 percent; average discount points for 5/1 adjustable rate mortgages were lower at 0.40 percent.

New Jobless claims fell by 4000 claims to 262,000 new claims, which was lower than analyst expectations of 265,000 new claims and the prior week’s reading of 266,000 new claims. Job security is important to home buyers and signs of strong labor markets can help propel would-be buyers into the market,

What‘s Ahead

This week’s scheduled economic news includes releases on new and existing home sales and consumer sentiment. Weekly reports on mortgage rates and new jobless claims will be released on schedule.

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

311 W Campbell Avenue Phoenix, AZ 85013

$469,000

2 Beds

1 Bath

982 SqFt

Status Active

MLS # 6694291

Property Type Single Family Residence

Price Type --

DELIGHTFUL CHARM in all the best ways inside this 2B/1b quaint historic Yaple Park, located walking distance to the lightrail, Lux Coffee, and restaurants galore! Coveted features of this beauty include historic wood flooring t/o, wood burning fireplace, ceiling height kitchen cabinetry, coved plaster ceilings in living room, unique picture windows (beautiful light in every room), original solid wood doors and hardware, and vintage bath tile. Newer updates & upgrades include a pavered north facing front conversation patio, blown-in cellulose insulation in the attic, updated wiring t/o the interior of the home, newer hexagonal kitchen tile flooring (installed with proper sub-flooring), newer gas water heater, newer roof (2019), new concrete rear patio, with wooden deck for entertaining, partly updated sewer (with ABS) at the kitchen sink & clean outs in rear yard, and new dual paned French doors to the rear patio and yard. This incredible starter property also has very inexpensive flood irrigation rights through SRP, large shade trees, an exterior garage (and laundry room) that could be converted to a guest house down the road, gated parking, and qualifies for historic taxes through the City of Phoenix (owner just needs to apply - see application in documents tab). For simple, beautiful, charm-filled living in a walkable area it doesn't get much better than this in Central Phoenix! Must see!!

View Property

16102 W Quail Creek Lane Surprise, AZ 85374

$469,000

2 Beds

2 Baths

1,712 SqFt

Status Active

MLS # 6696261

Property Type Single Family Residence

Price Type --

Beautifully remodeled and updated Manzanita 2BD/1.75BA 1712 Sq.Ft. beauty. NEW Roof 2020, HVAC 2019, office enclosed for nice extra private space. Kitchen cabinets with under cab lighting, and backsplash 2018. Beautiful granite adorns the kitchen! Updated Primary and Guest bathrooms 2018. Neutral colors, crown molding, plantation shutters, Energy efficient windows and screens. RO, soft water system too! Replaced Irrigation valves, updated cabinet pulls. 2-Car extended garage with storage. What a lovely, well cared for home just waiting for you!

View Property

1007 W Canyonlands Court San Tan Valley, AZ 85140

$469,000

4 Beds

3 Baths

2,443 SqFt

Status Active

MLS # 6694828

Property Type Single Family Residence

Price Type --

Welcome home! This highly desirable cul-de-sac, fabulous two-story abode is about to be yours! Once inside, you'll immediately notice the harmonious open floor plan graced with bountiful natural light and tile flooring. Spotless kitchen is equipped with plenty of espresso cabinets, recessed & pendant lighting, built-in appliances, a handy pantry, and a center island with a breakfast bar. Head upstairs to discover the sizable loft complemented by built in wraparound desk and a wall-mounted fireplace to keep you warm during cooler months. Romantic main bedroom includes plush carpet, an ensuite with dual sinks, and a walk-in closet. Finally, the generous-sized backyard with its covered patio, lovely gazebo, hot tub and artificial turf is the right spot for unwinding or gatherings. This gem is the one you're looking for!!

View Property

2032 W Rancho Drive Phoenix, AZ 85015

$469,000

4 Beds

2 Baths

1,604 SqFt

Status Active

MLS # 6700849

Property Type Single Family Residence

Price Type --

MOVE-IN READY SOLIDLY BUILT CHARMER in Bethany Villas, a quiet, friendly, and walkable neighborhood in West Central Phoenix. Absolutely turn key, the owners went above and beyond the fully remodeled condition in which they bought it in 2022, and added even more upgrades! Features include all major systems updated, including newer electrical, plumbing, HVAC, roof, dual paned windows, flooring, exquisitely upgraded kitchens and baths, with newer appliances, including washer, dryer, and fridge (with newly installed water line), matte finish quartz countertop island with storage (including deep drawers), recessed canned lighting, newer plumbing and lighting fixtures t/o, newer water heater, lush and attractive front and rear landscaping (AZ Ash and Pistache shade trees, and ficus bushes), newer rear yard perimeter block wall fencing, RV gate with alley access, and newer cellular blind window coverings t/o. If you want to live in a true community with neighborhood gatherings, a community Facebook group (the Simpson neighborhood association), neighborhood newsletter, coordinated yearly garage sales, potluck, neighborhood happy hours, holiday events, luminaria lightings, and hot chocolate gatherings, in a house that is completely ready to move in, this is it!!

View Property

1839 W Utopia Road Phoenix, AZ 85027

$469,000

3 Beds

1 Bath

1,161 SqFt

Status Active

MLS # 6701569

Property Type Single Family Residence

Price Type --

Welcome home! This delightful 3-bedroom residence features a practical RV gate and a low-maintenance yard. The living room has a neutral palette and contemporary wood-look flooring. The eat-in kitchen comes with quartz counters, white shaker cabinets, stainless steel appliances, a stylish tile backsplash, and sliding doors that open to the backyard for seamless indoor-outdoor living. Each cozy, well-sized bedroom offers plush carpeting and ample closet space. Enjoy breathtaking sunsets in the enchanting backyard, which offers an open patio, artificial turf, and a sparkling pool for cooling down on hot summer days. This value won't disappoint! *Sellers are willing to assist with 5k credit toward buyers closing costs

View Property

11437 N Coggins Drive Sun City, AZ 85351

Open House

$469,000

3 Beds

2.5 Baths

1,766 SqFt

Status Active

MLS # 6702382

Property Type Single Family Residence

Price Type --

SPECTACULAR remodeled home on the golf course**Come see what your dream home feels like! This beauty offers a spacious open floorplan with exquisite design and modern upgrades throughout in the heart of Sun City 55+ community. Meticulously updated offering the perfect blend of style and functionality. Whether you enjoy relaxing indoors or entertaining guests outdoors, this home has it all.**Key Features are-Chef-sized kitchen with new cabinets galore-New sleek appliances-Oversized kitchen island for meal prep and casual dining-Custom pergola back patio overlooking the golf course-Primary bedroom offers a large walk-in closet for ample storage and luxurious walk-in shower and modern bathtub for a spa-like experience in the primary bathroom-Convenient laundry room inside the home-Updated fixtures and finishes throughout give you a complete contemporary look. New roof for peace of mind and great curb appeal-Serene views of the golf course and surrounding greenery. Don't miss this opportunity to own a piece of paradise in Sun City. See it today and make this beautifully remodeled home yours!

View Property

16918 W Marcos De Niza Drive Surprise, AZ 85387

Open House

$469,000

2 Beds

2 Baths

1,518 SqFt

Status Active

MLS # 6703635

Property Type Single Family Residence

Price Type --

Upgraded split floorplan. 2 bd/2 ba + den. Stunning front paver courtyard offers picturesque sunset views. Security screen door. Dream kitchen w/white cabinets, granite counters, & tile backsplash, illuminated by both a skylight & recessed lights for a bright, airy feel. Entertain with ease as the kitchen & dining area seamlessly transition into the Great Room, featuring media wall w/floating shelves + stone accents. Retreat to the owner's ''sanctuary of relaxation'' w/charming bay window & a stunning doorless tiled shower, complimented by a new tall vanity, granite counters, framed mirror, + new lights. The hall bath also boasts a tall vanity, granite counter, & new lights. Backyard w/patio beckons for outdoor enjoyment, & has knee & pony walls , lush landscape for privacy & pets+ FENCE

View Property

42833 W Mallard Road Maricopa, AZ 85138

Open House

$469,000

2 Beds

2.5 Baths

1,945 SqFt

Status Active

MLS # 6636635

Property Type Single Family Residence

Price Type --

MOTIVATED SELLERS - OFFERING 3% SELLERS CONCESSIONS FOR CLOSING COSTS OR RATE BUY DOWN. Move-In Ready! Both bedrooms have ensuites and a den/office/workout room. Kitchen with under-cabinet lights, gas appliances double oven range. Butler's pantry and walk-in pantry, cabinets have dual pull-outs. Granite countertops, oversized island with additional storage. Laundry with counter space and cabinets.10' ceilings and 8' doorways. Extended Bay Window on the primary bedroom. Tile flooring throughout. Backyard has gated side yards with bunny fencing. Extended pergola patio, pavers and outdoor BBQ. Foam insulation, energy-efficient windows with sun-screens, and a powered attic ventilator. Ceiling fans in all rooms. A 25' extended and insulated garage with sink and 5' storage extension. Items to convey - back patio TV and cabinet with covers, garage TV and sound bar, King bedframe with mattress in Primary bedroom, and desert scape artwork above bed.

View Property

13256 N 38th Place Phoenix, AZ 85032

$468,999

3 Beds

2 Baths

1,240 SqFt

Status Active

MLS # 6643265

Property Type Single Family Residence

Price Type --

Welcome to this breathtakingly remodeled home, a true gem that blends modern luxury with unparalleled convenience. Situated just a mile east of SR 51, this home offers swift access to major roads and urban amenities. A short stroll down the street leads to the lush expanses of Indian Bend Park, providing a perfect setting for outdoor recreation and relaxation. Perfect for New Beginnings. This home isn't just a residence; it's a lifestyle choice. Whether you're looking for a peaceful family haven or a vibrant social hub, this property caters to all. It is the perfect way to start your new year in style.

View Property

18755 E Elizar Drive Gold Canyon, AZ 85118

$468,995

3 Beds

2.5 Baths

2,070 SqFt

Status Active

MLS # 6695197

Property Type Single Family Residence

Price Type --

Entrada del Oro in the Superstition Mountains: A serene desert escape with breathtaking, rugged beauty. Perfect for sunrise and sunset admirers.

View Property

40258 W Michaels Drive Maricopa, AZ 85138

$468,995

4 Beds

2 Baths

2,370 SqFt

Status Active

MLS # 6695514

Property Type Single Family Residence

Price Type --

You'll find plenty to love about the Raleigh plan! The center of the home boasts a large gourmet kitchen with a convenient center island and walk-in pantry, which flows into an open-concept dining room and great room. The owner's suite is adjacent, with a private bath and a walk-in closet. There are three additional bedrooms and a bath off the great room and off the entry is a private study. Outside, enjoy your corner lot and large covered patio!

View Property

18740 E Elizar Drive Gold Canyon, AZ 85118

$468,995

3 Beds

2.5 Baths

1,930 SqFt

Status Active

MLS # 6679862

Property Type Single Family Residence

Price Type --

Entrada Del Oro..... Entrance to Gold! Charming 3BR/2.5BA home! The back yard offers picture perfect views of Superstition Mountains and is the ideal place to enjoy evening sunsets. Beautiful Laminate flooring throughout with carpet in the bedrooms, kitchen comes with GE kitchen appliances & Quartz counter tops, two tone interior paint. The front yard comes desert landscaped and driveway is complete with pavers, make this home yours today!

View Property