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

4233 E Samkay Lane San Tan Valley, AZ 85143

New

$471,990

4 Beds

3 Baths

2,264 SqFt

Status Active

MLS # 6697519

Property Type Single Family Residence

Price Type --

Situated in the amenity rich community of Bella Vista Farms. Residents enjoy an amenity-rich lifestyle with exclusive access to an onsite swimming pool, picnic area, splash park, playground, basketball court, volleyball court and greenbelt. The local area is host to the San Tan Regional Park, where locals enjoy biking, hiking, horseback riding and more.

View Property

18157 W Navajo Street Goodyear, AZ 85338

$471,990

4 Beds

2 Baths

2,370 SqFt

Status Active

MLS # 6604053

Property Type Single Family Residence

Price Type --

This single-story home features an open concept floor plan that includes 9-ft. ceilings and a large great room. You'll also find Emser® tile flooring throughout the great room, dining space and kitchen, and Shaw® carpeting in the bedrooms. The expansive kitchen offers 42-in. upper cabinets, granite countertops, a center island and Whirlpool appliances. The private primary suite at the back of the home includes an oversized closet, and the primary bath boasts a separate tub and shower, a dual-sink vanity, and a door at the water closet. This home also includes a 40-gal gas water heater.

View Property

20265 W Rancho Drive Litchfield Park, AZ 85340

$471,990

4 Beds

3 Baths

2,049 SqFt

Status Active

MLS # 6649654

Property Type Single Family Residence

Price Type --

BRAND NEW energy efficient. Home is ready NOW! The jubilee steals the show with a spacious living concept. White cabinets with quartz countertops and grey flooring. Oversized lot with beautiful mountain views. We are now at our close out. The master planned community provides quick access to 1-10 and Loop 303. Your family will love the amenities including sports courts, walking trails, playgrounds and ramadas. 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

6308 W Villa Linda Drive Glendale, AZ 85310

$471,990

3 Beds

2 Baths

1,436 SqFt

Status Active

MLS # 6685499

Property Type Single Family Residence

Price Type --

This is your opportunity to own this incredible home in a desirable neighborhood surrounded by beautiful mountain views. 3 bed 2 bath home with a large family room. The kitchen has dark wood cabinets and new granite countertops. All stainless steel appliances convey and the washer and dryer. Laminate flooring in all the main areas except the bedrooms. Large master bedroom with room for all your needs. The other 2 bedrooms are also spacious. The garage has epoxy flooring and storage cabinets with a workbench. Enjoy the mountain views in your backyard while you entertain your guests. Don't miss this opportunity to make it yours!

View Property

7818 N 79th Avenue Glendale, AZ 85303

$471,435

4 Beds

2 Baths

1,682 SqFt

Status Active

MLS # 6696046

Property Type Single Family Residence

Price Type --

Beautiful single-story home conveniently located in desirable Glendale, minutes to shops, restaurants and entertainment! This home offers our ''LOFT LOOK'' selections with White Shaker 42' cabinets, quartz countertops, and Brushed nickel hardware in the kitchen. Beautiful upgraded faux wood 6x24 Light gray tile flooring with lush carpet in bedrooms. The Modern Spanish exterior provides great curb appeal! See this home today!!! ^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

View Property

12426 W Levi Drive Avondale, AZ 85323

$471,173

5 Beds

3 Baths

2,723 SqFt

Status Active

MLS # 6690949

Property Type Single Family Residence

Price Type --

Discover the difference in this home and buying experience! Under construction Rockrose design at Highland Sage. 2-story includes an open-concept floorplan boasting an inviting kitchen and bright great room that opens to the private, covered outdoor room, the two-car garage leads you into the drop zone, front covered porch with downstairs bedroom and bathroom, bonus room upstairs with 4 other bedrooms. $38,000 in upgrades are included in this home! Special financing is offered. Alamar is a new kind of master-planned community in the West Valley spread over 1,150 acres in Avondale, just 18 miles from Downtown Phoenix.

View Property

8449 W Rockwood Drive Peoria, AZ 85382

$470,999

2 Beds

2 Baths

2,203 SqFt

Status Active

MLS # 6636533

Property Type Single Family Residence

Price Type --

Price Reduction ,Spacious home in wonderful ''Westbrook Village'' Adult community 20% 40 years to 55 years, 80% 55 years plus, no children under 19 years of age. Located in the newer Phase 2, close to The Vistas Recreation Center. Large bedrooms, huge master bath with tub & shower. Newer A/C. Solar $139. per month. Looking for lots of room, this home has a large Arizona Room, could be heated & cooled for a work out room or area for pets or ?? Come see your dream home today !!

View Property

19643 W Windsor Avenue Buckeye, AZ 85396

$470,995

3 Beds

2 Baths

2,070 SqFt

Status Active

MLS # 6646560

Property Type Single Family Residence

Price Type --

The Agate floor plan is designed for your comfort and convenience. The Stone Elevation invites you into the home that revolves around an airy open layout showcasing a great room, an upgraded kitchen with 42'' cabinets, a quartz center island and a dining nook with access to the covered patio. A spacious owner's suite is adjacent, and boasts a large walk-in closet and an attached bath. You'll also find a flex room that can be used for your office or study. The stone floors in the living space with carpet in the bedrooms. A laundry and another bath complete the home.

View Property

41000 W Agave Road Maricopa, AZ 85138

$470,990

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6400949

Property Type Single Family Residence

Price Type --

THIS HOME IS READY FOR YOU!!! Belice - perfect for entertaining with a 12x8 sliding glass door that leads out to your extended covered patio. Large walk-in shower at Owner's bath and ceramic tile surrounds, Designer gas appliance package, Lausanne Espresso cabinets with 42'' upper kitchen cabinets and upgraded hardware. Himalaya white granite countertops in kitchen and on the enhanced kitchen island. 8' tall interior doors throughout home. Upgraded flooring includes level 9 carpet in all bedrooms/closets and Linden Pointe Grigio 12x24 floor tile in remaining areas of the home. Dual sinks at bath 2. We're also adding in the pre-plumb for soft water. Interior two tone ''Agreeable Gray'' paint. Garage service door and an 8' tall garage door.

View Property

5211 W Beryl Avenue Glendale, AZ 85302

$470,900

4 Beds

2 Baths

1,657 SqFt

Status Active

MLS # 6650123

Property Type Single Family Residence

Price Type --

Amazing Remodeled Pool and Home completely remodeled four bedrooms, two baths, two car garage, RV gate. Family room with Fireplace goes out to nice covered patio and large Yard. New Windows, New Cabinets, New Appliances, All New flooring. Remodeled bathrooms. Fresh paint inside and out. You will love this home.

View Property

14413 W Sky Hawk Drive Sun City West, AZ 85375

$470,800

3 Beds

2 Baths

2,018 SqFt

Status Active

MLS # 6606976

Property Type Single Family Residence

Price Type --

**HUGE Price Improvement** Welcome to this charming single-family home, built in 1989, nestled in the heart of Sun City West. This well-maintained residence offers comfortable living on an expansive 8,900 sqft lot. Seller's have upgraded and remodeled almost every room in this house! Featuring 3 bedrooms, 2 bathrooms and a convenient attached garage with ample storage cabinets. This home is designed for both convenience and style. All new interior paint, appliances, carpets, and tile! With an additional sunroom and a prime location in the vibrant community of Sun City West, this home is a fantastic opportunity to enjoy all the amenities and lifestyle this region has to offer.

View Property

17869 W Indigo Brush Road Goodyear, AZ 85338

$470,571

3 Beds

2 Baths

2,124 SqFt

Status Active

MLS # 6645261

Property Type Single Family Residence

Price Type --

Call for builder Incentives! Welcome to this gorgeous home in Vidrio at Estrella! This home features 3 bedrooms plus a study, 2 bathrooms, and beautiful upgrades throughout. The kitchen features white shaker cabinetry, grey quartz countertops, and a stylish geometric backsplash! The primary suite has a spa-like ensuite with a separate shower and bathtub and a walk-in closet that connects to the laundry room! The laundry room has decorative tile and is finished with cabinets for extra storage! Plus, this home has grey wood like plank tile throughout & a BBQ gas stub outside! This gem is waiting for you to call it home!

View Property