What’s Ahead For Mortgage Rates This Week – June 13, 2016

Last week’s economic news was highlighted by Fed Chair Janet Yellen’s speech in Philadelphia. Although Chair Yellen alluded to future Fed rate hikes, she did not specify when Fed policymakers would next raise the target federal funds rate.

Increases in the fed funds rate typically signal increases in consumer credit and home mortgage rates. Last week’s speech was seen as a precursor to the Federal Open Market Committee statement that will occur at the conclusion of next week’s FOMC meeting.

Chair Yellen is also scheduled to give a press conference after the FOMC statement next Wednesday.

Mortgage rates and new jobless claims also fell last week.

Fed Chair Speech: Fed Rate Increases Likely, but Subject to Economic Developments

Fed Chair Janet Yellen said that remarks would be “largely favorable” although economic developments were “mixed.” Chair Yellen cited economic progress toward the Fed’s dual goal of achieving maximum employment and price stability. Labor benchmarks included national unemployment below five percent, rising household income and indications of rising wages were cited as positive signs for economic expansion.

Slowing job growth and inflation staying below the Fed’s goal of 2.00 percent were cited as signs that the U.S. economic recovery is underway, but Chair Yellen also said signs of slower job creation along with uncertainties in global economic conditions and oil prices prevented short-term predictions about how the economy would perform.

Fed Chair Yellen also repeated her usual caution that Fed policy is not set in stone, but instead is subject to FOMC members’ ongoing review of economic developments and related readings.

Mortgage Rates, New Jobless Claims Lower

Freddie Mac reported lower mortgage rates last week. The average rate for a 30-year fixed rate mortgage was six basis points lower at 3.60 percent; the rate for a 15-year fixed-rate mortgage averaged 2.87 percent, which was five basis points lower than the previous week. The average rate for a 5/1 adjustable rate mortgage was six points lower at 2.82 percent. Discount points averaged 0.50 percent for all three loan types tracked by Freddie Mac.

New jobless claims were also lower at 264,000 new claims filed against expectations of 270,000 new claims and 268,000 new claims filed in the prior week.

What’s Ahead This Week

This week’s scheduled economic news includes the Fed’s post-meeting FOMC statement and press conference, reports on the consumer price index and core CPI, housing starts and the NAHB Housing Market Index. Reports on mortgage rates and new jobless claims will be released according to their weekly schedule.

Economic indicators such as price inflation, rising mortgage rates and housing data impact housing markets and consumers’ ability or willingness to buy homes.

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

5249 W Lydia Lane Laveen, AZ 85339

$479,900

3 Beds

2.5 Baths

2,222 SqFt

Status Active

MLS # 6684943

Property Type Single Family Residence

Price Type --

Welcome to this lovely home on a large lot. This single-story home boasts 2,222 square feet of living space, three bedrooms, two and a half bathrooms, a spacious primary bedroom with a large ensuite and a huge walk-in closet. Secondary bedrooms have walk-in closets. The oversized kitchen features granite countertops, DOUBLE OVENS, lots of cabinets and storage space, stainless steel appliances, gas stove top, and walk-in pantry. The stainless refrigerator conveys! The open concept great room floorplan is modern connecting the kitchen, dining, and living room areas. This home has beautiful tile floors, 2'' wood like blinds, coffered ceilings, a 3-car tandem garage with epoxy floor, soft water loop, a large grassy backyard with RV gate, and a service door leading to the backyard.

View Property

7009 E Acoma Drive Scottsdale, AZ 85254

$479,900

2 Beds

2 Baths

1,158 SqFt

Status Active

MLS # 6688794

Property Type Apartment

Price Type --

Fantastic location for this gorgeous Scottsdale Condo! Ground floor unit with tons of upgrades and north/south exposure. 2 bed 2 bath with stainless steel appliances, granite counter tops, and newer wood floors in main living areas. Two large bedrooms, both with walk-in closets. Both bathrooms have been upgraded and the primary bath includes a double vanity with tumbled travertine tile and travertine shower! Fantastic community with many amenities and a short distance to Kierland and Scottsdale Quarter! HVAC replaced in 2018. Attention Investors!! These units rent out regularly and consistently for both furnished and unfurnished units!

View Property

22309 S 213th Street Queen Creek, AZ 85142

$479,900

4 Beds

2 Baths

2,177 SqFt

Status Active

MLS # 6691525

Property Type Single Family Residence

Price Type --

One of the few homes in the Villages with a 3 car garage. Nice open layout with great room, dining area and kitchen combo. Split floorplan with the primary suite in the back. 3 bedrooms one full bath up front. Upgraded insulation to R-30 for lower energy bills Private backyard with no two stories around. Great location and walking distance to Las Colinas golf course and clubhouse, as well as community pool and pickleball courts. New Social Birdie restaurant in the clubhouse for dining and entertainment. Just minutes from downtown Queen Creek for shopping, theater, and dining. This is a great price for this location.

View Property

1613 W Satinwood Drive Phoenix, AZ 85045

$479,900

4 Beds

3 Baths

1,930 SqFt

Status Active

MLS # 6700179

Property Type Single Family Residence

Price Type --

Beautiful property located in Club West in Ahwatukee. Near South Mountain and trailheads for hiking/mountain biking as well as convenient freeway access. Features two balconies with amazing park & mountain views. Spacious primary suite with large walk in closet, separate tub/shower and balcony. Awesome floorplan with 4 bedrooms, 3 full bathrooms, living room, dining room, full-size loft, built-in desk and storage area, and laundry room. First-floor bedroom and bath make a perfect guest room or home work space. Very clean and move in ready. Owner is licensed real estate broker.

View Property

3441 W Frier Drive Phoenix, AZ 85051

$479,900

4 Beds

2 Baths

2,000 SqFt

Status Active

MLS # 6700218

Property Type Single Family Residence

Price Type --

Welcome to your dream single-story home with a complete top-to-bottom remodel! This stunning residence boasts a fresh and modern aesthetic that will take your breath away. The new kitchen and bathrooms feature elegant quartz countertops, a beautiful and durable addition. Stainless steel appliances make meal preparation and entertaining a delight. This single-story gem offers a turnkey opportunity to live in style and comfort. With a meticulous remodel and attention to detail, it's a rare find. Don't miss out on the chance to call this house your home! New Flooring & Baseboards: Stunning new flooring throughout the home. RV GATE

View Property

1057 S Spur -- Mesa, AZ 85204

$479,900

3 Beds

2 Baths

1,338 SqFt

Status Active

MLS # 6695874

Property Type Single Family Residence

Price Type --

WOW! Get this beautifully remodeled home that is in the best location in Mesa. If you haven't been to McAfee Place, then you don't know what you're missing out on. Everything is super-close to this home, yet the neighborhood is so quiet and peaceful. Aside from the perfect location, this home feels like a brand new home! As soon as you walk in the front door you will notice the tastefully appointed kitchen which opens to the living room. The home was masterfully updated to include almost everything like the new kitchen, bathrooms, newly re-surfaced pebble tech pool, and so much more. Your new owners will love the OWNED solar system that comes with the house. Come take a look at this lovely home before it's gone!

View Property

2835 E Sweetwater Avenue Phoenix, AZ 85032

$479,900

3 Beds

2 Baths

1,510 SqFt

Status Active

MLS # 6690307

Property Type Single Family Residence

Price Type --

Discover this fully remodeled 3-bedroom, 2-bath residence now on the market! You'll find an open layout with a sunken living room with plush carpeting and a cozy family room with an inviting fireplace for intimate evenings with loved ones. The interior showcases a soothing palette, efficient recessed lighting, and attractive wood-look flooring. The impeccable kitchen is equipped with sleek quartz counters, white shaker cabinets, a stylish tile backsplash, stainless steel appliances, chic pendant lighting, and a peninsula with a breakfast bar for casual dining. The main bedroom offers a walk-in closet and a private bathroom for added comfort. Venture outside to the backyard, displaying a covered patio for evening relaxation and a handy storage shed. See this move-in-ready gem today!

View Property

3938 N 164th Drive Goodyear, AZ 85395

Open House

$479,900

2 Beds

2 Baths

1,623 SqFt

Status Active

MLS # 6702537

Property Type Townhouse

Price Type --

Robson Preferred Guest Stay and Play Viva model is on the market! Located on the Tuscany side of the award-winning golf resort community of PebbleCreek. Designed to be beautiful and move-in ready! Many upgrades are included in these special guest units. Built-in cabinetry, upgraded flooring, custom window treatments and design colors and finishes. Enhancements by current owners include a gorgeous iron security front door which allows the flow of light and air, new carpet in the bedrooms, 2 additional TVs, and new leather couches in the family room. The kitchen features a large island with pendant lighting, quartz countertops, and a large pantry. The primary bedroom has an en-suite bathroom with a walk-in shower w/bench, dual sinks, and a walk-in closet.... The den is conveniently located off the kitchen and separates the bedrooms. The patio has complete privacy and is, of course, no maintenance! The garage can fit 2 cars and a golf cart. Everything about this home is convenient and functional not to mention aesthetically pleasing. Most of the furnishings in the villa convey except for a few personal items. There's no outside maintenance (landscape, paint, roof, etc...) with a PebbleCreek Villa, so don't wait, this is the perfect opportunity for you to start the carefree resort lifestyle right now!

View Property

19777 N 76th Street Scottsdale, AZ 85255

Open House

$479,900

2 Beds

2 Baths

1,149 SqFt

Status Active

MLS # 6678086

Property Type Apartment

Price Type --

This is the one you've been waiting for! This gorgeous lock and leave 2b 2b property with a garage (includes the furniture!), is located in one of the most desired locations. Indulge in insane unobstructed mountain and sunset views right from your balcony situated above the beautiful lush lawn that edges this highly sought after Grayhawk community. Resort-like amenities and activities offered here will spoil you with a lifestyle of living that most believe isn't possible at this price point. This ready to entertain property has a split floor plan and no interior steps. COMMUNITY AMENITIES: Billiards, 24 hour courtesy patrol, Fireside wind lounge, 20 seat theater, Mountain bike and laptop check out, 4 resort-like pools with cabanas, hot tubs, stellar fitness center, coffee bar, children's play area, clubhouse, game room, tennis and pickle ball courts, a business center, gas grills and outdoor fireplaces, workout classes and a concierge are just some of the perks of living here! Close to the uber popular shopping and restaurants in Kierland, Scottsdale Quarter, Promenade, DC Ranch, and Desert Ridge.

View Property

7918 W Joedad Terrace Peoria, AZ 85382

Open House

$479,900

3 Beds

2 Baths

1,520 SqFt

Status Active

MLS # 6687954

Property Type Single Family Residence

Price Type --

Welcome home to your Fulton Home Indigo 3 bedroom, 2 bath floorplan in the heart of Peoria. This was Fulton Homes most popular floorplan for many years and for good reason. As you walk in to the home, the spacious living room with gas fireplace gives you the ''home'' feel. Your formal dining room is to the left while the breakfast nook is straight ahead with the large kitchen with breakfast bar being adjacent to that. The captivating vaulted ceilings with additional windows gives plenty of natural light which makes this home bright. The massive master bedroom has the bay wndw option for even more room. Don't worry about closet space as the MB has a huge walk in closet. Both front and back yards are beautifully landscaped with mature fruit trees, built in BBQ, and a grassy area w/sprinklers

View Property

2548 S Player Avenue Sierra Vista, AZ 85650

Open House

$479,900

3 Beds

3 Baths

2,304 SqFt

Status Active

MLS # 6676270

Property Type Single Family Residence

Price Type --

Santa Fe Oasis with Mountain Views, Pool, Corner Lot, and Golf Course Living! The golf course frontage provides stunning fairway, mountain, and lake views, perfect for morning coffee or evening cocktails. The master suite, independently situated on the second floor, boasts a secluded haven with a personal balcony and spiral staircase leading directly to the heated pool and spa. Extensive high-end updates include kitchen, bathrooms, flooring, built-in desk/bookcases, and individual climate control in each room. A two-car garage with a separate storage room provides additional space for all your gear, tools, and seasonal items. This unique residence creates the perfect blend of luxury, comfort, and breathtaking views. Don't let this dream home slip away!

View Property

4396 E Austin Lane San Tan Valley, AZ 85140

$479,895

3 Beds

2 Baths

2,184 SqFt

Status Active

MLS # 6689918

Property Type Single Family Residence

Price Type --

You have discovered a hidden gem in this exquisite single-story home featuring spacious rooms, including three bedrooms and two baths. The gourmet kitchen is a chef's dream, complete with granite countertops, huge island, and the walk-in pantry, ideal for entertaining. Appliances are less than a year old, Ample space in the indoor laundry. The Master retreat boasts his and her closets, a large garden tub. A wonderful space to come home to! 20 inch tile flooring in key areas, Bonus owned solar panels are installed to minimize electric bills. Three car tandem garage has a wonderful garage opener wi battery backup opener and is a must have for any man/women cave. Beautiful mature landscaping front and back adorned with beautiful fruit trees and a variety of other plants too numerous to list The back patio features extended pavers, showcasing the owners' attention to detail. This property is truly magnificent and you will love to call it home!

View Property