What’s Ahead For Mortgage Rates This Week – January 2, 2017

Last week’s economic reports were in short supply due to the Christmas holiday. Events reported included Case-Shiller home price indices, pending home sales and weekly readings on mortgage rates and new jobless claims. Consumer confidence was also released.

Case–Shiller Readings Indicate No Slowdown in Home Price Gains

Case-Shiller’s October readings for its home price indices showed continued growth in home prices. In spite of rising home prices and mortgage rates, high demand for homes and slim supplies of homes for sale continued to fuel higher home prices.

According to Case-Shiller’s national home price index for October, home prices rose 5.60 percent on an annual basis as compared to September’s reading of 5.40 percent. The 20-city home price index rose to 5.10 percent from September’s reading of 5.00 percent. Case-Shiller’s 10-city index also gained 0.10 percent in October with a reading of 4.30 percent year-over-year.

Seattle, Washington, Portland, Oregon and Denver, Colorado had the highest year-over-year home price gains in October with readings of 10.70, 10.30 and 8.30 percent respectively. David M. Blitzer, Managing Director and Chairman of the S&P Indices Committee, said that “Home prices and the economy are both enjoying robust numbers,” but he also cautioned that rising mortgage rates and home prices growing faster than wages continue to pose obstacles for some home buyers. The Federal Reserve is expected to raise its federal funds rate in 2017, which is expected to prompt rising mortgage rates.

Mortgage Rates Mixed, Pending Home Sales Fall

Pending home sales fell 2.50 percent in November. Analysts said that post-election reaction helped to drive mortgage rates higher, which made homes less affordable for first-time and moderate-income buyers; Sellers and buyers may have postponed decisions to sell or buy as they waited for volatile post-election responses to ease.

According to the National Association of Realtors®, pending home sales fell to their lowest level in almost a year with an index reading of 107.30 in November. September’s reading was 110.00. The holiday season and rising mortgage rates were seen as contributing to fewer pending home sales.

Freddie Mac reported the ninth consecutive week that fixed rate mortgages rose. In the final mortgage rates survey for 2016, the average rate for a 30-year mortgage rose two basis points to 4.32 percent; the average rate for a 15-year fixed rate mortgage was three basis points higher at 3.55 percent. 5/1 adjustable rate mortgage rates averaged 3.30 percent, which was two basis points lower than the prior week. Discount points averaged 0.50 percent for all three mortgage types.

New jobless claims were lower last week with a reading of 265,000 new claims filed. Analysts had expected 270,000 new claims filed based on the prior week’s reading of 275,000 new claims filed.

In spite of rising home prices and mortgage rates, consumer sentiment was higher than expected in December with a reading of 113.70 as compared to expectations of 110.00 and November’s reading of 109.40.

What‘s Ahead

Next week’s scheduled economic reports include Labor Department releases on Non-Farm Payrolls, and the national unemployment rate. ADP payrolls and weekly readings on mortgage rates and new jobless claims will also be released. Financial markets are closed today in observance of New Year’s Day.

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

10746 E Dragoon Circle Mesa, AZ 85208

$470,367

3 Beds

2.5 Baths

1,669 SqFt

Status Active

MLS # 6464259

Property Type Single Family Residence

Price Type --

$20,000 in Builder Incentives(must use Preferred Lender)for a buyer to use on this NOW COMPLETED Inventory home!This floorplan features 3 bedrooms and 2.5 baths. Spacious Great Room area and 8' doors on 1st level. Kitchen has beautiful shaker style cabinets in Ash color and granite countertops. 12X24 tile throughout the entire first floor. Master has TWO walk in closets and a large Walk in Shower! Diamond Court, built by Newmark Homes, is an 18 home community nestled in a prime location in Mesa with lots of new retail/restaurants close by!

View Property

2430 E Boulder Avenue Apache Junction, AZ 85119

$470,105

4 Beds

3 Baths

2,377 SqFt

Status Active

MLS # 6691660

Property Type Single Family Residence

Price Type --

This beautiful two story home has 2377 sqft with 3 full bedrooms, 2 full bathrooms and a loft upstairs. Down stairs also has a full bedroom and a full bathroom. Plenty of space for the whole family! Granite countertops throughout the whole home. This home also sites on a corner lot at the end of a cul-de-sac, fantastic location! **This home is on track for an end of June closing.** Contact listing agent for more details and special financing incentives.,

View Property

3131 N Central Avenue Phoenix, AZ 85012

$470,000

1 Bed

1.5 Baths

822 SqFt

Status Active

MLS # 6386350

Property Type Apartment

Price Type --

*Construction Completed* 3.5% buyer incentive can be used towards rate buy down, upgrades, closing costs, or combo of those! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious 1 bedroom/1.5 bath condo offers an open floor plan with ten ft. ceilings, large master bedroom with ensuite bathroom, and a guest powder room. The chefs kitchen features expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful 50' lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

View Property

19851 W Flower Street Buckeye, AZ 85396

$470,000

4 Beds

2 Baths

2,304 SqFt

Status Active

MLS # 6636252

Property Type Single Family Residence

Price Type --

2%-3% in seller concessions available to the buyer to apply towards closing costs or interest rate buy down. Call Your agent right now. With an impressive split floor plan - 4 beds, 2 baths, and a 2-car garage on a spacious lot, this homes offers a seamless open layout for social harmony. Revel in the details, including tile flooring, a soothing color palette, and an abundance of natural light throughout. The kitchen features black appliances, granite counters, recessed lighting, a pantry, and an island with a breakfast bar. The primary bedroom boasts a HUGE walk-in closet and a private bathroom with dual sinks. The backyard is a blank canvas for your personal touch and room for a pool. Garage refrigerator included as well. Welcome home!

View Property

37063 W Oliveto Avenue Maricopa, AZ 85138

$470,000

5 Beds

3 Baths

3,618 SqFt

Status Active

MLS # 6648485

Property Type Single Family Residence

Price Type --

Embark on a serene suburban journey at 37063 W Oliveto in Maricopa's Sorrento community. This 5-bed home, with a loft radiates modern family living. Upstairs, find elegantly renovated bathrooms with countertops and sinks, complemented by fresh cabinets and stylish mirrors. The kitchen, the heart of this home, features an enhanced island and beautiful granite countertops. Outside, a private pool and oasis, perfect for relaxation and entertainment, with north/south exposure for year-round enjoyment. Sorrento offers a close-knit community with amenities like biking paths, a playground, and a tennis court, balancing tranquility and convenience. This home isn't just a residence; it's a haven for a fulfilling, balanced lifestyle. Join the vibrant Sorrento community.

View Property

1233 S 16th Avenue Phoenix, AZ 85007

$470,000

4 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6659031

Property Type Single Family Residence

Price Type --

Brand new construction near Downtown Phoenix with close access to I17 and I10 freeways. Approximately 15 minutes from Sky Harbor airport. This is a 4bedroom 2bathroom approximately 1750SF home with a spacious open concept layout. Home also comes with a two car garage with a 50amp receptacle for Electric Vehicle charging. Bedrooms are spacious and all come with light/fan fixtures. Home has a covered patio with fan/light fixture already installed, it has a sizeable backyard. Backyard is an open canvas where the new owner can design their own landscape or even put in a swimming pool.

View Property

1255 N Arizona Avenue Chandler, AZ 85225

$470,000

3 Beds

2.5 Baths

1,681 SqFt

Status Active

MLS # 6664981

Property Type Townhouse

Price Type --

Your future home is waiting for you in Tre Vicino, an exceptional gated community ideally situated in the heart of Chandler. With two separate pool areas for both personal use and guests, this property, constructed in 2020, boasts 3 spacious bedrooms, all with walking closets, 2.5 baths, and plenty of living space. Features an open-concept kitchen with granite countertops, a sizable island, and a walk-in pantry that opens to a generous living area, perfect for hosting, a corner lot with a great size backyard, landscape complemented with pavers and artificial turf. Situated on a premium lot and just steps away from the community's green belt common area, this property is conveniently located near shopping, downtown Chandler's entertainment options, and the 202 freeway.

View Property

5528 W Rainwater Drive Laveen, AZ 85339

$470,000

4 Beds

2 Baths

1,813 SqFt

Status Active

MLS # 6665303

Property Type Single Family Residence

Price Type --

This immaculately maintained single-story residence nestled within the charming Ellison Trails community offers the perfect blend of comfort and convenience. Situated on a desirable corner lot, this home boasts a thoughtfully designed floorplan, ensuring seamless living. Step inside to discover an inviting interior adorned with modern finishes and abundant natural light. The spacious layout encompasses 4 bedrooms, 2 bathrooms, and generous living areas, providing ample space for relaxation and entertainment. The heart of the home is the well-appointed kitchen, complete with quartz countertops, SS appliances, and ample cabinet storage. Whether you're hosting gatherings or preparing family meals, this kitchen is sure to inspire your culinary creativity. Retreat to the tranquil owner's suite offering a private oasis where you can unwind after a long day. Additional bedrooms provide flexibility for guests, home offices, or hobbies. Outside, the expansive yard offers endless possibilities for outdoor enjoyment, from al fresco dining to gardening or simply soaking up the Arizona sunshine. With a prime location just minutes from the 202 freeway, commuting is a breeze, while nearby shopping, dining, and entertainment options ensure convenience at your fingertips. Don't miss your chance to experience the epitome of comfortable living in this Ellison Trails gem. Put your offer in today and make this house your forever home!

View Property

11130 W Dana Lane Avondale, AZ 85392

$470,000

3 Beds

2 Baths

2,382 SqFt

Status Active

MLS # 6665526

Property Type Single Family Residence

Price Type --

Huge Price Reduction! 3 Bed/Plus LARGE Den/ Single Level w/Pool & 3 Car Garage has an open flowing floorplan w/lots of room! The Custom Security door greets you! The Formal Dining Rm sits separate from the step down spacious living rm! A large Family Rm is open to the Kitchen w/an island/Breakfast Bar/Breakfast Area & Pantry!Laundry rm is off the kitchen for convenience! Arcadia leads out to the Patio & Large Yard w/Pool! Good Sized Master Bedrm has a door leading out to the Patio! Master Bath has double sinks/separate Tub & Shower & Walkin Closet! 2 Secondary Bedrms & a Double Door Entry Den(4th Bdrm-No Closet)The Hall Bath w/Double Sinks/Separate Rm for the Toilet & Bath for Privacy! Round out the interior!The Backyard offers many options as it is a blank slate w/Pool! Call Now

View Property

20062 N Horse Trail Drive Surprise, AZ 85374

$470,000

2 Beds

2 Baths

2,185 SqFt

Status Active

MLS # 6667234

Property Type Single Family Residence

Price Type --

***3.25% ASSUMABLE LOAN!*** Step into this impeccably maintained home nestled in the desirable 45+ community of Sun City Grand. Meticulously cared for by a single owner, this residence boasts an ideal layout featuring an expansive master bedroom that has been extended 4ft. The office/den can easily be converted into a third bedroom. Outside, enjoy the stunning landscaping and a convenient built-in grill, perfect for outdoor entertaining. Don't miss out on this opportunity to experience comfortable and stylish living in this charming community with wonderful amenities and golf courses!

View Property

8334 W Gross Avenue Tolleson, AZ 85353

$470,000

4 Beds

3 Baths

2,349 SqFt

Status Active

MLS # 6677972

Property Type Single Family Residence

Price Type --

REMODEL OASIS. Welcome to this stunning renovated home where warmth and coziness meet modern elegance. Step inside and discover a thoughtfully designed floor-plan that starts with the living room and next to it is the family room which gives way to the kitchen. The huge loft upstairs is perfect for a game-room or another family area. The generous space, warmth and welcoming ambiance gives you the instant feeling of being home. The large sized and inviting master bedroom provides a peaceful sanctuary for relaxation. Not to mention the stunning updated bathrooms, vanities, flooring, color scheme, all combining to provide you with a blend of comfort, charm and sophistication. Big yard with walking slabs, an inviting recess area for sitting is perfect for an everyday adventure.

View Property

9551 E Redfield Road Scottsdale, AZ 85260

$470,000

2 Beds

2.5 Baths

1,111 SqFt

Status Active

MLS # 6687019

Property Type Townhouse

Price Type --

Looking for a move-in ready, turnkey townhome? Well you have found it! Check out this adorable, freshly painted townhome in prime Central Scottsdale location... with a recent price improvement too! The gated Redfield Park townhome community is located in 85260, which is in the heart of all that Scottsdale has to offer. This location is minutes from Gateway Trail with miles of beautiful Sonoran Desert hiking, or a short trip to Kierland Commons and Scottsdale Quarter for high end boutique shopping and fine dining, or just a quick trip down the 101 freeway to Salt River Fields, Talking Stick Casino, or Butterfly Pavilion. This meticulously maintained townhome boasts 2 spacious bedrooms and 2.5 baths, and a host of recent upgrades, including fresh paint throughout: a blank canvas, awaiting your personal touches. Step through the private front courtyard entryway, as you are greeted by gleaming hardwood floors and soaring 9+ ft ceilings and a natural light filled interior. The main level showcases a seamless flow from the oversized great room into the gourmet kitchen, ideal for entertaining guests. Revel in the culinary delights of the open-concept kitchen, featuring a generous granite countertop bar perfect for casual dining or entertaining family and friends. This kitchen also offers plenty of storage and pantry space, complemented by a suite of modern appliances, custom tile backsplash and recessed lighting. Step outside to the ample sized North facing flagstone patio for coffee in the morning or enjoying a relaxing afternoon in the shade. Upstairs, are you going to find two ample sized bedrooms, two full bathrooms, and a conveniently located laundry room. Looking for tons of storage for your car and toys? This 2 car tandem garage offers ample space for all the above... And again, just steps from the heated community pool, this unit is in a prime location within the community. Welcome home to luxurious living at its finest in Redfield Park.

View Property