What’s Ahead For Mortgage Rates This Week – July 5, 2016

Last week’s economic events included S&P Case-Shiller’s Housing Market Indices for April along with reports on Construction Spending and Pending Home Sales. Consumer Confidence was higher in June in spite of low wage growth and inflation well below the Fed’s goal of 2.00 percent annually.

S&P Case-Shiller: Home Price Growth Ticks Downward

April home values grew by 5.40 percent in April on a seasonally-adjusted annual basis. Case Shiller reported a drop in momentum from the March reading of 5.50 percent according to the S&P Case-Shiller 20-City Home Price Index. While no city included in the 20-City Index reported lower home values, the rate of growth appears to be slowing. High home prices driven by high demand and slim inventories of available homes may continue to lose steam as high home prices coupled with stricter mortgage requirements sideline first-time and moderate income buyers.

Pending home sales in May saw their first decline since August 2015 According to the National Association of Realtors®, Pending sales dropped from April’s downwardly revised index reading of 115.0 to 110.8. Pending home sales were -3.70 percent lower in May as compared to April’s reading of +3.90 percent. The drop in pending sales, which represents homes under contract that are not yet closed, is largely blamed on markedly low inventories of homes for sale in many areas.

Construction spending was higher in May, but remained in negative territory with a reading of -0.80 percent as compared to expectations of +0.50 percent and April’s reading of -2.00 percent. While the overall reading appears unremarkable, residential construction spending was 5.30 percent higher in May.

Mortgage Rates Lower, Jobless Claims Rise

Freddie Mac reported lower mortgage rates in the aftermath of Great Britain’s vote to leave the EU. Rates for a 30-year fixed rate mortgage averaged 3.48 percent.15-year mortgage rates averaged 2.78 percent and the average rate for 5/1 adjustable rate mortgages was 2.70 percent. Discount points were also lower at 0.50, 0.40 and 0.50 percent respectively.

Jobless reports jumped due to the end of the school year; New York State in particular allows some workers to file jobless claims when schools are closed. 268,000 new jobless claims were filed as compared to expectations of 265,000 new claims and the prior week’s reading of 258,000 new claims.

Consumer confidence rose in June, but consumers were surveyed before the Brexit vote. Consumer confidence increased to 98.0 in June as compared to May’s index reading of 92.40.Stronger job markets and stabilized gas prices were seen as contributing factors that boosted consumer confidence.

What’s Ahead

Next week’s scheduled economic reports include several labor-related reports including Non-Farm Payrolls, ADP Payrolls, June’s national unemployment rate and minutes of the Fed’s last FOMC meeting. Freddie Mac’s survey of mortgage rates and weekly jobless claims will also be released.

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

18455 N 167th Lane Surprise, AZ 85374

$480,000

3 Beds

2 Baths

2,061 SqFt

Status Active

MLS # 6687490

Property Type Single Family Residence

Price Type --

Welcome to your amazing 3 bedroom (plus a den) / 2 bath home in the very desirable Bell West Ranch subdivision in Surprise. Wonderful open floorpan features a great room perfect for entertaining. Nicely remodeled with vinyl wood plank flooring throughout. Kitchen is designed with white quartz countertops, white painted cabinets, and stainless appliances. Modern style ceiling fans and lighting fixtures are updated throughout the home. The 3 car garage provides ample storage. Very large backyard with RV gate and RV parking. With convenient access to shopping, dining, and entertainment, this home offers the ideal combination of comfort and convenience.

View Property

11011 N Zephyr Drive Fountain Hills, AZ 85268

Open House

$480,000

2 Beds

2 Baths

1,460 SqFt

Status Active

MLS # 6677005

Property Type Apartment

Price Type --

Expansive Mountain Views! Adorable & perfectly situated condo near Fountain Park with all the right touches! Don't miss this opportunity in a quiet community with many upgrades including appliances, electric shades, custom paint & more! The smart split floor plan & open kitchen allows for large living areas and the views! Large Patio area has a fireplace and grill that will be your happy place. Community pool currently being re-modeled and building is well maintained. Please allow 1 hr notice for tour.

View Property

3938 E Sweetwater Avenue Phoenix, AZ 85032

Open House

$480,000

3 Beds

2 Baths

1,855 SqFt

Status Active

MLS # 6690532

Property Type Single Family Residence

Price Type --

Step into comfort & convenience w/ this home boasting luxury vinyl plank flooring throughout the home. Fresh interior paint provides a crisp & modern look. The heart of the home features a chef's kitchen equipped w/ newer appliances w/ a view of your sparkling pool & recently installed artificial turf in the backyard- a low maintenance outdoor space that looks perfect year round. Comfort is key, w/ a new evaporative cooler installed in 2022 to keep you cool during the warm summer months, while ceiling fans in every room ensure optimal airflow & energy efficiency.The primary & secondary bathrooms are tastefully updated w/ new vanities, offering both style & storage solutions. Additionally, patio posts were replaced in 2018, ensuring the outdoor space is as sturdy as it is inviting. For added convenience, a stackable washer and dryer set were purchased in 2023, offering modern laundry amenities right at your fingertips. Nestled next to the existing Road Runner park with lakes, tennis courts, and expansive spaces, this home is poised to benefit from enhanced amenities and increased value brought forth from the up and coming Red Development (formerly PV Mall). Don't miss your chance on this lucrative asset and enriching lifestyle that awaits you!

View Property

17143 S 180th Lane Goodyear, AZ 85338

Open House

New

$480,000

2 Beds

2 Baths

1,695 SqFt

Status Active

MLS # 6688548

Property Type Single Family Residence

Price Type --

This home has much to offer and is a must see if you are looking for an active adult community with a tranquil setting. You will find a great blend of plentiful activities and calming leisure. As you walk into this luxurious home you will instantly feel at ease. The gourmet kitchen, with its sleek granite countertops and staggered cabinets, is perfect for entertaining and is sure to impress your family and friends. The rooms are spacious and sized for comfort. Step out to the expansive backyard that has breathtaking views perfect for that morning cup of coffee or evening view of the sunset. Additionally, the serene mountain panoramic view will serve as a constant reminder of the beauty Arizona has to offer. It will be easy to image your next chapter starting right here.

View Property

6605 W Whispering Wind Drive Glendale, AZ 85310

Open House

New

$480,000

3 Beds

2 Baths

1,663 SqFt

Status Active

MLS # 6696849

Property Type Single Family Residence

Price Type --

Welcome to this charming home, where comfort meets convenience! Providing 3 beds, 2 baths, & a 2-car garage. Discover an inviting interior featuring tons of natural light, a neutral palette, tile & wood-look flooring in all the right places, and vaulted ceilings that add to the airy feel. Perfect for gatherings & entertaining, you'll love the separate family room and a desirable great room w/surround sound! The kitchen boasts built-in appliances, a pantry, ample wood cabinetry, and a pass-through window. Enter the main bedroom to find plush carpet, and a private bathroom. Storage closets are added perks! Outback, you have a covered patio, well-laid pavers, garden bed, storage shed, and additional seating area. Near A+ rated schools, CCV, Lifetime, shopping centers and more!

View Property

1007 W Canyonlands Court San Tan Valley, AZ 85140

Open House

New

$480,000

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

11528 E Sebring Avenue Mesa, AZ 85212

$479,999

3 Beds

2 Baths

1,969 SqFt

Status Active

MLS # 6693482

Property Type Single Family Residence

Price Type --

Simple irresistible! This charming 3 bedroom, 2 bathroom home located in the Desert Valley Community is the one you've been looking for. Discover an impressive living room featuring glossy wood-look tile floor, neutral color palette, recessed lighting, and arched doorways. The well-appointed kitchen boasts stainless steel appliances, granite counters, wood cabinetry, a convenient center island, and two breakfast bars. End your long and busy day in the main bedroom, offering a full ensuite with dual sinks, a separate tub/shower, and a walk-in closet. You will find a lovely backyard showcasing easy-care landscape and two covered patios ideal for outdoor relaxation! What's not to like? Don't let this opportunity slip by!

View Property

15541 N 174th Lane Surprise, AZ 85388

$479,999

3 Beds

2 Baths

2,147 SqFt

Status Active

MLS # 6662424

Property Type Single Family Residence

Price Type --

Great New Price! Delightful single level home in the serene community of Surprise Farms. Very open floor plan with wood and tile floors throughout the home. Kitchen features granite counters and stainless appliances. Fabulous backyard with pool, palm trees and covered patio. Plenty of parks and restaurants in the area. Also, easy access to SR303 for commuting to work.

View Property

7908 S 7th Way Phoenix, AZ 85042

$479,999

3 Beds

2 Baths

1,734 SqFt

Status Active

MLS # 6671421

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gated Villages at Verona! This 3-bed, 2-bath plus den/office boasts upgrades throughout: wood-look tile, quartz countertops, LED lighting, stainless appliances, and more. Enjoy sunset views from the landscaped backyard. Community pool, playgrounds, and proximity to Downtown Phoenix, Sky Harbor, and hiking trails. Plus, this property qualifies for down payment assistance, making luxury living more accessible. Don't miss out on the open floor plan and urban convenience!

View Property

15624 W Gelding Drive Surprise, AZ 85379

$479,999

4 Beds

2.5 Baths

2,408 SqFt

Status Active

MLS # 6669935

Property Type Single Family Residence

Price Type --

Worth the look! Home has had some upgrades recently and could use a few more. 4 bedroom, 2.5 bath, den/office and loft area! Large greatroom open to kitchen area. Kitchen has tons of countertop space, stainless appliances,, walk in pantry and views of the entire backyard! Large Primary bedroom and bathroom, 2 sinks, 2 large walk-in closets and private toilet room. Newer flooring in most of the home, the 3 bedrooms and stair need carpeting! home offers blinds, ceiling fans, upgraded flooring. Home needs a little TLC, nothing major. 2 car garage w/ open and built-in cabinets. Oversized backyard was made for entertaining! Covered patio, green turf, storage sheds and mature trees. Minutes away from dining, shopping, and freeway for easy access to anywhere with the 303 freeway close by!

View Property

15562 W Hackamore Drive Surprise, AZ 85387

New

$479,990

4 Beds

2 Baths

1,837 SqFt

Status Active

MLS # 6696951

Property Type Single Family Residence

Price Type --

Come to Mason Ranch II in Surprise and discover our GRAND OPENING INCENTIVES!! Come and see this beautiful 3501 floor plan with 3 bedrooms, 2 baths, and 2-car garage with all appliances included!! This home is enriched with numerous upgrades, including stone-gray cabinets with hardware, quartz kitchen countertops, custom design full kitchen backsplash, large kitchen island, large single stainless steel bowl sink, stainless steel appliances, gas range, tile flooring, tankless hot water heater, 9' ceilings, 8' interior doors, soft water loop, a comprehensive smart home package, enhanced electrical package with cat 6 wiring, pre-wire ceiling fans in all bedrooms, great room and patio, pre-wire for pendant lights at kitchen island, garage keyless entry pad, and more! Est. move in May 2024

View Property

4456 W Josephine Street San Tan Valley, AZ 85144

New

$479,990

5 Beds

3 Baths

2,406 SqFt

Status Active

MLS # 6697457

Property Type Single Family Residence

Price Type --

Brand new, energy-efficient home available by May 2024! There is plenty of room for a growing family in the spacious five bedrooms of the Avery. White cabinets with hardware, cream/black granite countertops, travertine-look tile flooring and warm grey carpet in our Crisp package. Enjoy secluded primary suites at San Tan Groves in San Tan Valley. San Tan Groves is conveniently located minutes from San Tan Mountain Regional Park, making morning hikes easy! This community boasts ample storage and a 5 bedroom layout. Enjoy dining and entertainment just a few miles away. We build each home with innovative, energy-efficient features that cut down on utility bills so you can afford to do more living.*

View Property