What’s Ahead For Mortgage Rates This Week – November 21, 2016

Last week’s economic reports included readings on the National Association of Home Builders Housing Market Index, Commerce Department releases on Housing Starts and Building Permits issued and weekly reports on new jobless claims and mortgage rates.

Builder Sentiment Holds Steady, Demand for Homes Pushes Builders

November’s reading for the National Association of Home Builders Housing Market Index held steady with a reading of 65. Any reading above 50 indicates that a majority of home builders surveyed has a positive view of current and future housing market conditions. Tight supplies of available homes, steep competition for homes in desirable metro areas and rising home prices pressure home builders to produce more homes, but builder sentiment and housing starts are not always aligned, but data released by the Commerce Department indicates that builders are ramping up construction.

The Commerce Department reported that October’s reading of 1.323 housing starts exceeded September’s reading of 1.054 million starts and also surpassed the expected reading of 1.170 million starts. This suggests that builders are ramping up construction to quench ongoing demand for homes. October’s reading was 25.50 percent higher than September’s reading, which was the highest number of housing starts posted since 2007. Starts for multi-family homes of five units or more jumped 75 percent and starts for single family homes of four units or less increased by 11 percent.

Building permits issued in October rose to 1.229 million as compared to September’s reading of 1.225 million permits issued. Approaching winter weather and holidays typically cause slowing of construction.

Mortgage Rates Rise after Election

Last week’s survey of mortgage rates was mostly completed by the time presidential election results were released; this week’s readings showed higher rates for all types of mortgages. The average rate for a 30-year fixed rate mortgage increased from 3.57 percent to 3.94 percent; rates for a 15-year fixed rate mortgage rose from 2.88 to 3.14 percent and the average rate for 5/1 adjustable rate mortgages was also higher at 3.07 percent as compared to the prior week’s reading of 2.88 percent. Discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages. Low mortgage rates have helped home buyers qualify for financing they need to buy homes; if rates continue to trend upward, demand for homes is likely to ease.

New jobless claims reached a 43-year low last week. 235,000 claims were filed as compared to expectations of 255,000 new claims and the prior week’s reading of 254,000 new jobless claims. Low layoff rates point to stronger economic conditions; job stability can encourage first-time home buyers to enter the market and existing home owners to buy larger homes.

What’s Ahead

Readings on new and pre-owned home sales, the Federal Reserve’s post meeting FOMC statement and reports on mortgage rates and new jobless claims will be released this week.

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

946 E Elgin Street Chandler, AZ 85225

$495,000

3 Beds

2 Baths

1,403 SqFt

Status Active

MLS # 6700368

Property Type Single Family Residence

Price Type --

Welcome to your charming oasis in Chandler! This 3 bed, 2 bath home is filled with natural light, creating a warm and inviting atmosphere. The spacious living areas flow seamlessly into the kitchen, perfect for gatherings and entertaining. The primary bedroom offers tranquility and ample space for relaxation. Plus, enjoy energy efficiency with a leased solar system and a soft water system. Outside, the quaint yard provides a private retreat for enjoying Arizona's beautiful weather. Conveniently located in the heart of Chandler, close to shopping, dining, parks, and top-rated schools. Don't miss out on this gem that combines comfort, style, and convenience!

View Property

7343 W Monte Cristo Avenue Peoria, AZ 85382

$495,000

3 Beds

2.5 Baths

1,887 SqFt

Status Active

MLS # 6702296

Property Type Single Family Residence

Price Type --

LIVE IN NORTH PEORIA FOR UNDER 500K!! Welcome to this charming and well-maintained two-story home located in the desirable Peoria neighborhood, offering convenience and easy access to shopping and dining options. With three bedrooms, two full bathrooms, and a half bath, this residence is perfect for families or those looking for extra space. As you step inside, you'll be greeted by a warm and inviting atmosphere. The main floor features a spacious living room with plenty of natural light, creating an ideal space for entertaining guests or simply relaxing with your loved ones. The adjacent dining area provides a perfect setting for enjoying meals together. Don't miss this opportunity to own a well-maintained, three-bedroom, two-and-a-half-bath home in a sought-after Peoria neighborhood. Come see it today and start envisioning your new life in this wonderful community.

View Property

24917 W Morning Vista Lane Wittmann, AZ 85361

New

$495,000

3 Beds

2 Baths

1,456 SqFt

Status Active

MLS # 6703594

Property Type Manufactured Home

Price Type --

Discover the charm of country living in this spacious manufactured home nestled on 2 acres, where comfort meets functionality in a serene rural setting. Step inside to find a wide-open floor plan, perfect for casual gatherings or quiet evenings at home. The remodeled kitchen and master bathroom offer modern updates without sacrificing practicality, ensuring both style and convenience. Outside, the expansive property provides plenty of room for horses, RVs, boats, and more, with no HOA restrictions to limit your lifestyle. Enjoy the freedom of rural living while still being within easy reach of urban amenities. BONUS: the 12 x 30 climate-controlled she-shed or workshop adds a versatile bonus space for your hobbies or projects. Come tour the property today!

View Property

8727 E Knowles Avenue Mesa, AZ 85209

New

$495,000

3 Beds

2.5 Baths

2,100 SqFt

Status Active

MLS # 6703911

Property Type Single Family Residence

Price Type --

MODEL PERFECT HOME INCLUDES PREMIUM HOME WARRANTY. THIS IS THE BIGGEST HOME, ON THE BIGGEST LOT, WITH THE BEST LOCATION IN THIS BEAUTIFUL GATED COMMUNITY AT BARRINGTON ESTATES. AMAZING GREENBELT VIEW ON CORNER LOT! BRAND NEW 15 SEER AC UNIT WAS INSTALLED IN MARCH/2023 (ALL NEW AIR CONDITIONER SYSTEM COST $13,977.46 AND INCLUDES ALL NEW AC VENTILATION SYSTEM INSTALLED IN ATTIC. ALL NEW LUXURY VINYL PLANK FLOORING AND NEW BASEBOARDS INSTALLED THROUGHOUT. ALL NEW 2-TONE CONTEMPORARY GRAY INTERIOR PAINT INSIDE & OUT. BRAND NEW LG STAINLESS STEEL REFRIGERATOR WAS INSTALLED IN FEB/2024. ALL NEW BRUSHED NICKEL LIGHT FIXTURES & CEILING FANS AND NEW PLUMBING FIXTURES INSTALLED THOUGHOUT. COMPLETE REMODEL COST OVER $50,000. PLEASE SEE ITEMIZED REMODEL IN DOCUMENTS TAB.

View Property

3031 W Juana Court Phoenix, AZ 85083

New

$495,000

3 Beds

2 Baths

1,751 SqFt

Status Active

MLS # 6704072

Property Type Single Family Residence

Price Type --

This beautiful home is a 3 bed, 2 bath in a great neighborhood. Highly upgraded new kitchen with quartz countertops and new cabinets, all new appliances and a spacious pantry. Large master bedroom with a dream closet that has a perfect closet system. This home has it all with the right touches, and at the end of the day enjoy your new backyard with artificial grass and pavers throughout for a maintenance free backyard. This home also comes pre wired for an EV in the garage. Don't miss out on the opportunity to call this beautiful property your own.

View Property

17185 S Mescalero Drive Munds Park, AZ 86017

$495,000

3 Beds

2 Baths

1,238 SqFt

Status Active

MLS # 6685198

Property Type Single Family Residence

Price Type --

The original home, constructed in 1969, underwent expansions in 2005 and has since received updates, including a repainted exterior and interior, as well as the addition of a 50-amp Tesla charging station. Inside, this spacious residence features a generous living area with new vinyl flooring. Three sizable bedrooms. Upgraded bathrooms, a wood stove, and a covered front porch contribute to the property's charm. Convenience and security are ensured with ample parking, a chain-linked backyard, and a rebuilt back deck. Both the front and back yards boast mature trees, creating a serene ambiance. An enclosed back porch provides a cozy retreat, complete with an on-demand water heater for chilly days. Additionally, a spacious shed in the backyard offers ample storage space for tools and toys.

View Property

25943 W Yukon Drive Buckeye, AZ 85396

New

$495,000

4 Beds

2.5 Baths

3,066 SqFt

Status Active

MLS # 6703220

Property Type Single Family Residence

Price Type --

This beautifully upgraded home offers a luxurious, modern living experience w/ meticulous attention to detail. The floor coverings have been carefully selected to enhance both aesthetics and functionality. The home has been freshly repainted in stylish tones, with updates to the kitchen, family room, master bed/bath/closet, powder room, dining room & living room. The kitchen displays granite counters, repainted cabinets with new hardware, and convenient features like pull-out shelves and soft-close hinges. Outside, the landscape has been transformed w/ high-quality plants & thoughtful design elements. This home is a true sanctuary, offering a blend of luxury, comfort & functionality in every detail. SOLAR! Public/membership golf, GREAT COMMUNITY W/ softball field/basketball court & more!

View Property

1506 W Cheyenne Drive Chandler, AZ 85224

$495,000

3 Beds

2 Baths

1,660 SqFt

Status Active

MLS # 6697350

Property Type Single Family Residence

Price Type --

This cozy abode features an open floor plan that combines the living room and dining area, perfect for relaxation and socializing. The updated kitchen is warm and inviting, with updated cabinetry, granite countertops and newer appliances. This home has been freshly updated with new paint inside and out, new plank style tile in the common areas and new carpeting in the bedrooms giving it a clean and modern feel. Additional features include a 2-car garage, energy-efficient windows and doors, and beautiful landscaping and curb appeal. Enjoy the benefits of energy efficiency and lower utility bills. The private backyard is a tranquil oasis, with desert landscape and new watering system - less yard work and more time for outdoor relaxation! Located in a desirable Chandler neighborhood, this home is close to schools, parks, and shopping centers, with easy access to major highways and airports. The home is move-in ready!

View Property

6175 N 87th Lane Glendale, AZ 85305

New

$495,000

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6703261

Property Type Single Family Residence

Price Type --

UPDATED single level home with OWNED SHARP SOLAR PANELS (see Pearl Certification) **10K SQFT LOT backing to Desert Mirage Park! NO HOA! Recently redesigned kitchen with waterfall QUARTZ countertops, 2018 GE appliances, LED can lighting, double pane windows, 90% sun screens over new windows. Newer exterior doors & french door w/ built in blinds. Updated bathroom. New outlets some w/ USB ports. Engineered wood flooring with open floorplan. Updated bathrooms and amazing self-automated lighting in redesigned laundry room. All new interior lighting, added insulation, 15 SEER Trane HVAC. New Ext electrical near RV pad. Mini-split AC in Master bdrm. w/double sinks, vaulted ceilings. Pie shaped well landscaped yards.

View Property

15423 W Monterosa Street Goodyear, AZ 85395

New

$495,000

5 Beds

3 Baths

2,443 SqFt

Status Active

MLS # 6704058

Property Type Single Family Residence

Price Type --

Put this home at the top of your list to see. Amazing home with 5 large bedrooms, 3 bathrooms, over 2400 sqft, custom wood shutters T/O, vaulted ceilings, upgraded floorng, inside laundry room, cozy family room with gas fireplace, open kitchen with spicy maple cabinetry, gas appliances, granite, & island. This home offers you 1 bedroom and bath downstairs(perfect for guest) & 4 upstairs. The large primary bedroom has a separate tub & shower & dual sinks. Outside you can enjoy the covered patio and no homes behind. All this and located in Palm Valley and close to freeways, shops, restaurants, golf course and much more.

View Property

16454 W Sandia Park Drive Surprise, AZ 85374

$495,000

2 Beds

2 Baths

1,870 SqFt

Status Active

MLS # 6675317

Property Type Single Family Residence

Price Type --

This PALO VERDE split floorplan with 2 bedrooms and a den, has been extended to include bay windows in the breakfast nook and primary bedroom. Before you enter this well-maintained home, you will be greeted with a beautifully designed courtyard with a seating area and lighting for enjoying the beautiful Arizona evenings. Inside, you will see an open living room and kitchen with stainless steel appliances and granite countertops. Your eyes will be drawn to the beautiful crown molding in the main areas. Ceiling fans in every room and 3 solar tubes have been added to allow more natural light in. Custom plantation shutters throughout, tile floors in all common areas with upgraded carpeting in the bedrooms. The expanded back patio is perfect for morning coffee or entertaining, featuring a built-in gas grill, shaded by an extended roof. There are several seating areas with a large motorized awning and ceiling fans to keep you cooler on those warm sunny days. On cooler evenings you can enjoy the hot tub and beautiful sunsets. There is a whole-home water filtration system and water softener. The gas hot water heater and HVAC were replaced in 2022. The garage has loads of built-in cabinets, providing ample space for storage, and a drive-up golf cart storage area. The Grand provides residents an active close-knit community with resort-style amenities that include four 18-hole golf courses, 3 restaurants, state of the art fitness center, day spa, 4 outdoor pools, indoor pool, card rooms, multi-purpose trails, tennis, pickleball & bocce courts, softball field, fishing lake, many social clubs & activities.

View Property

1792 N Marketside Avenue Buckeye, AZ 85396

New

$495,000

4 Beds

3 Baths

2,232 SqFt

Status Active

MLS # 6704568

Property Type Single Family Residence

Price Type --

Welcome to your stylish haven in Verrado! This modern residence boasts contemporary colors, a chic kitchen with a central island, and a spacious master suite featuring a walk-in closet. Flexible living spaces adapt to your lifestyle needs, while the fenced backyard offers a private retreat. Enjoy upgraded finishes throughout, including stainless steel gas appliances and sleek wood-look plank tile. This home also offers direct access to the Verrado Marketside greenbelt, where firepits and lounging areas await your enjoyment. With a 2-car garage and convenient proximity to schools and amenities, this home offers both luxury and practicality.

View Property