What’s Ahead For Mortgage Rates This Week – July 25, 2016

Housing Starts, Building Permits Issued Rise

Commerce Department reports on housing starts and building permits issued were released Tuesday. Housing starts rose to 1.189 million in June against expectations of 1.165 million starts and May’s downwardly revised reading of 1.135 million starts, Housing starts rose by 4.80 percent on a seasonally-adjusted annual basis. This is good news for housing markets, but analysts said that demand for homes continued to exceed available supplies.

Building permits issued also rose in June to 1.53 million as compared to May’s reading of 1.136 million permits issued.

Existing Home Sales Increase: National Association of Realtors®

Sales of previously-owned homes rose three percent year-over-year and reached their highest level since February 2007 in June. Existing home sales rose by 1.10 percent in June to a seasonally-adjusted annual rate of 5.57 million sales. Analysts forecasted a reading of 5.48 million sales of pre-owned homes based on May’s reading of 5.51 million sales.

Analysts said that first-time home buyers are returning to housing markets and helped boost June sales and cited changing buyer demographics that suggest a return to owner-occupant home sales. First-time buyers accounted for 33 percent of pre-owned home sales in July, which was their highest reading since 2012. First-time buyers are important to housing markets as their purchases of existing homes enable current homeowners to sell their homes to buy larger homes or to relocate.

Mortgage Rates Rise, New Jobless Claims Fall

Mortgage rates rose across the board last week according to Freddie Mac’s weekly report. Rates for a 30-year fixed rate mortgage averaged 3.45 percent, which was three basis points higher. The average rate for a 15-year fixed rate mortgage also rose three basis points to 2.75 percent; rates for a 5/1 adjustable rate mortgage averaged 2.78 percent. Discount points averaged 0.50 percent for fixed-rate mortgage and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims sustained their streak and fell last week to 253,000 against predictions of 260,000 new claims filed and the prior week’s reading of 254,000 new claims filed. Analysts hailed declining jobless claims as a strong indicator that the economy and labor markets continue to improve. New jobless claims have remained below the key reading of 300,000 for 73 weeks. The four-week rolling average of new jobless claims fell by 1250 claims to 257,750. This reading is considered less volatile than week-to-week readings and offers evidence of steady improvements in labor markets.

What’s Ahead

Next week’s scheduled economic news includes the S&P Case-Shiller Housing Market Index, readings on new and pending home sales and the FOMC committee’s post-meeting statement on Federal Reserve monetary policy decisions. Analysts widely expect the Fed to hold firm on its current federal funds rate of 0.25 to 0.50 percent.

Weekly reports on mortgage rates and new jobless claims will be released along with a reading on consumer confidence.

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

3218 N 37th Street Phoenix, AZ 85018

$516,000

3 Beds

2 Baths

1,296 SqFt

Status Active

MLS # 6622683

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER!!! This well-maintained property located in Citrus Acres/Arcadia Lite, brings you comfort, generous space, and a rare two-car garage—a standout feature in this neighborhood—all without the restrictions of an HOA. Opportunity for expansion with the possibility to construct multi-dwelling units or an ADU, offering you even more flexibility and potential for this property! Situated on a spacious lot, you'll appreciate the generous backyard, side yard, and RV space for all your outdoor needs. The home has been thoughtfully updated to ensure a hassle-free move-in experience. In 2021, new windows were installed, providing natural light and energy efficiency. In October 2023, a brand-new air conditioning system was installed, for year-round comfort. The bathrooms received a refresh in 2022. In Oct 2023, the garage was freshly painted. The fascia boards were replaced, a tasteful upgrade completed in December 2023. Additonally, a new Rheem electric water heater installed April 2024 (9 yr warranty)

View Property

5527 W Carson Road Laveen, AZ 85339

Open House

$516,000

3 Beds

2 Baths

2,224 SqFt

Status Active

MLS # 6674253

Property Type Single Family Residence

Price Type --

Single Story Home in Gated Cottonfields Community, Original Owner-Pride in Ownership. Upgraded Island Kitchen, Granite Countertops, Extended Kitchen Cabinets, pull out drawers, Crown molding. Pantry, 10foot + Ceilings throughout, All appliances included. Split Floorplan. Upgraded Primary Tiled Shower, dual sinks, Plantation shutters, Built in ceiling speakers in Primary Bedroom, Great Room &, Outdoor Patio. Gorgeous Landscaped Backyard with Private Hot Tub, Solar Panels=Great Utility Savings , Covered Patio. Cabinets in Garage along with overheard storage area. Easy access to 202 South Mountain Freeway and future restaurants/shopping at Laveen Spectrum & Laveen Park Place. Community includes 2 children's playgrounds, greenbelts, lake in subdivision

View Property

19624 W Cartwright Avenue Buckeye, AZ 85396

$515,995

3 Beds

2.5 Baths

2,400 SqFt

Status Active

MLS # 6686742

Property Type Single Family Residence

Price Type --

Lot 108 is the Celeste 3 Bedroom+ Study, 2.5 Bathroom, 3 Car Garage

View Property

17741 W Encinas Lane Goodyear, AZ 85338

$515,990

4 Beds

3.5 Baths

2,873 SqFt

Status Active

MLS # 6705291

Property Type Single Family Residence

Price Type --

''Up to 3% of Base Price or total purchase price, whichever is less, is available through preferred lender.'' The Prato floor plan boasts 4 bedrooms, 3.5 baths, a den, loft, soft water loop, and an 8' garage door height, among other notable structural features. Additionally, this home will showcase granite kitchen counters, a gas stub at both the kitchen and backyard, a ring doorbell, and window blinds.

View Property

43250 W Askew Drive Maricopa, AZ 85138

$515,000

4 Beds

2 Baths

2,474 SqFt

Status Active

MLS # 6676946

Property Type Single Family Residence

Price Type --

Picturesque single story home in Rancho El Dorado! This sprawling 4 bedroom 2 bath home offers everything you could ask for in luxury resort, desert living!! Granite countertops, engineered hardwood floors, 42'' maple cabinets, spacious closets, vaulted ceilings, the list goes on and on. Exquisite backyard offers relaxation or space for entertaining, pool refurbished in 2021 including new rebar, pebble tech and water line tile and autofill. Hot tub has 2 year old circuit board and motor. Complete HVAC system newly installed 2024.

View Property

6108 N 418th Avenue Tonopah, AZ 85354

$515,000

4 Beds

2 Baths

1,897 SqFt

Status Active

MLS # 6681591

Property Type Single Family Residence

Price Type --

Buyers unable to perform. Their lost your gain. Your dream home is here! This stunning 4-bed, 2-bath residence is complete with a 2-car garage, an extended driveway, and a tasteful stone facade. Inside, the great room showcases vaulted ceilings, abundant natural light, a soothing palette, and attractive wood-plank tile flooring. The kitchen boasts sleek quartz counters, white shaker cabinets, SS appliances, chic pendant lighting, a tile backsplash, a walk-in pantry, and a central island with a breakfast bar. The main bedroom features a private bathroom with dual sinks and a walk-in closet. The vast backyard is a blank canvas, offering a covered patio, breathtaking mountain views, and ample space to create your dream oasis. Make this gem yours today!

View Property

24402 S Starcrest Drive Sun Lakes, AZ 85248

$515,000

2 Beds

2 Baths

2,123 SqFt

Status Active

MLS # 6702841

Property Type Single Family Residence

Price Type --

Lovely home in the heart of OAKWOOD COUNTRY CLUB, featuring VAULTED CEILINGS & elegant PLANTATION SHUTTERS w/ an open & airy ambiance. Kitchen is a chef's dream with plentiful cabinets & countertops. Both formal dining & eat-in kitchen are great for entertaining! Living room features a cozy fireplace, ideal for relaxing evenings, while the dedicated DEN/OFFICE provides a private space for work. Primary bdrm has sep exit to patio + ensuite has dual sinks. Lg guest bdrm w/ walk-in closet. Spacious screened-in patio & LOW MAINTENANCE BACKYARD-perfect for enjoying Arizona's beautiful weather! NEW ROOF/FRESH PAINT in 2023, New PEX plumbing in 2020, HVAC replaced in 2015 adds both value & peace of mind. All this in an exclusive, GATED, 40 & over ACTIVE ADULT COMMUNITY w/tons of fun AMENITIES!

View Property

1242 W Manhatton Drive Tempe, AZ 85282

$515,000

3 Beds

2 Baths

1,006 SqFt

Status Active

MLS # 6686208

Property Type Single Family Residence

Price Type --

This recently updated 3-bedroom, 2-bathroom home is conveniently located within a fifteen-minute drive of ASU, Spring Training Facilities, Old Town, Mill Ave, and Skyharbor. The spacious backyard features a pool, seating area, grill, putting green, sand pit, cornhole, and fire pit seating. The master bedroom boasts a walk-in closet and a full bathroom.

View Property

3659 S 63rd Drive Phoenix, AZ 85043

$515,000

5 Beds

3 Baths

1,939 SqFt

Status Active

MLS # 6690176

Property Type Single Family Residence

Price Type --

Welcome to modern luxury living in the tranquil Village at Estrella community. Discover the epitome of open-concept elegance in this gorgeous home, where natural light bathes spacious living areas designed for contemporary lifestyles. Imagine preparing gourmet meals in the sleek, chef-inspired kitchen equipped with top-tier appliances and a generous center island. Guests can mingle freely from the dining area to the plush comforts of the living room, anchored by chic design and seamless flow. Retire to your exquisite master suite, a sanctuary where relaxation is paramount—an en suite master bathroom complements it, promising a spa-like retreat after long days. Outdoors, revel in the serene ambiance of your low-maintenance backyard featuring a bespoke gas fire-pit—perfect for starlit

View Property

14247 N Ashbrook Drive Fountain Hills, AZ 85268

$515,000

3 Beds

2 Baths

1,643 SqFt

Status Active

MLS # 6692186

Property Type Twin Home

Price Type --

LISTED UNDER APPRAISED VALUE!!! 3 bedroom, 2 bath Gemini twin home in Fountain Hills offers a delightful blend of comfort, functionality, and modern amenities, all while exuding the charm of a single-family residence. This layout offers the benefits of community living while still maintaining a sense of privacy and independence. The primary bedroom features an ensuite bathroom, boasting a spacious walk-in shower and double sinks, providing a luxurious and convenient retreat. The home boasts new AC and newer kitchen appliances, ensuring energy efficiency and reliability. The kitchen stands out with its granite countertops, providing a sleek and stylish workspace for culinary endeavors.The absence of carpet and the presence of tile and laminate flooring throughout the home offer durability easy maintenance, and a clean, modern aesthetic. Being adjacent to a wash adds to the natural charm of the surroundings, providing a serene backdrop and enhancing the sense of tranquility. With its clean and well-maintained condition, this home is ready for immediate occupancy!!

View Property

445 Starlight Lane Wickenburg, AZ 85390

$515,000

2 Beds

2.5 Baths

2,052 SqFt

Status Active

MLS # 6699153

Property Type Single Family Residence

Price Type --

Well kept home on a large lot. Quiet cul-de-sac location. Two master bedrooms along with a 1/2 bathroom for guests. Large Kitchen with double ovens, and a cook top in the island. Plenty of cabinets and counter top space. Pella windows. Oversized two car garage. Well landscaped with large back yard.

View Property

5059 N 83rd Street Scottsdale, AZ 85250

$515,000

4 Beds

2.5 Baths

1,752 SqFt

Status Active

MLS # 6694981

Property Type Townhouse

Price Type --

Discover the perfect blend of comfort and convenience in this inviting 4 bed, 2.5 bath townhouse located just moments away from Old Town Scottsdale. Entertaining is effortless with a spacious living area flowing seamlessly into a split dining area, complemented by an L-shaped kitchen island perfect for casual gatherings. Retreat to the private back patio to savor the Arizona weather. Take advantage of the nearby Chaparral Park and dog park for outdoor recreation. Conveniently situated near the 101 highway, this townhouse offers easy access to surrounding areas while being in close proximity to Old Town Scottsdale's dining, shopping, and entertainment offerings. With two designated carport spots, a detached storage shed, and a plethora of nearby amenities this residence offers the ultimate Scottsdale living experience. Whether you're looking for a new place to call home or an investment property that allows short terms rentals, this is place for you!

View Property