What’s Ahead For Mortgage Rates This Week – October 24, 2016

Last week’s economic releases included the National Association of Home Builders’ Housing Market Index along with reports on housing starts, building permits and sales of previously owned homes. Weekly reports on new jobless claims and mortgage rates were also released.

NAHB: Builder Sentiment Dips amid High Demand for Homes

Home builder confidence in current housing market conditions dipped from September’s index reading of 65 to 63. September’s reading was the highest since the peak of the housing bubble. Any reading above 50 indicates a majority of builders surveyed are confident about housing market conditions. Building new homes is essential to relieving intense demand for homes against short supplies of homes for sale. Builders cited obstacles including low supplies of land for development and workforce shortages, but expressed confidence in overall economic conditions that affect construction and sales of new homes.

Housing Starts Fall, Building Permits Rise

According to the Commerce Department, the reading for housing starts was nine percent lower in September than for August. 1.047 million starts were reported in September on a seasonally adjusted annual basis; August’s reading showed 1.150 million starts. Monthly readings tend to fluctuate due to weather, labor and materials supplies. Single family starts provided good news with a higher annual rate of 783,000 starts; this was 8.10 percent higher than August’s reading.

More building permits were issued in September than for August. Overall, 1.225 million permits issued on an annual basis. August’s reading showed 1.152 million permits issued. Building permits for single-family homes rose to 783, 000 on an annual basis, an increase of 8.10 percent over August. September’s increase in single-family permits indicates that builders are shifting their efforts toward single-family construction instead of multi-family construction. This signifies confidence in homeownership and suggests stronger housing markets as renters become homebuyers.

Sales of Previously–Owned Homes Increase

The National Association of Realtors® reported that previously owned homes sold at a seasonally-adjusted annual pace of 5.47 million sales in September as compared to a rate of 5.33 million sales in August. Pre-owned home sales rebounded after slowing in July and August. Home prices rose 5.60 percent year-over-year to an average of $234,200; this was the 55th consecutive month that home prices rose.

Sales of pre-owned home sales rose in all four regions rose year-over-year from 0.90 percent in the South to 5.80 percent in the Northeast. First-time buyers accounted for 34 percent of sales, which was the highest participation rate in four years.

Mortgage Rates Higher

Freddie Mac reported higher average mortgage rates last week. 30-year fixed rates were five basis points higher at 3.52 percent. 15-year fixed rates were three basis points higher at 2.79 percent. 5/1 adjustable mortgage rates rose three basis points to 2.85 percent. Discount points rose from 0.50 to 0.60 percent for fixed rate mortgages and were unchanged at -.40 percent for 5/1 adjustable rate mortgages.

New jobless claims were higher than expected at 260,000 claims; analysts expected 248,000 new claims to be filed based on the prior week’s reading of 247,000 new claims filed. Last week’s reading was the highest in six weeks, but analysts said that layoffs remain very low.

What‘s Ahead

This week’s scheduled economic news includes Case-Shiller home price data, readings on new and pending home sales along with reports on consumer confidence. Mortgage rates and new jobless claims will be released on their regular weekly scheduled.

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

144 W Pierson Street Phoenix, AZ 85013

New

$515,000

2 Beds

1 Bath

1,063 SqFt

Status Active

MLS # 6705717

Property Type Single Family Residence

Price Type --

Uptown living in the heart of North Central Phx! This adorable home offers comfortable living w/ incredible upgrades including newer HVAC, kitchen appliances, LTV flooring & a She Shed/Man Cave that is beyond cool. Family room is spacious & cozy with a charming fireplace & room for dining. The kitchen has been upgraded w/ newer stainless steel appliances, lighting, white cabinets & solid surface countertops. Inviting backyard w/ a chill pool offering upgraded equipment as of 2021, refreshed landscaping & large covered patio. The Shed/Cave offers so many options; office, workout room or guest quarters. Amazing location w/ easy access to incredible schools, light rail & downtown. The interior & exterior were painted in 2021. Carport roof replaced in 2024. See docs tab- upgrades & floor pla

View Property

4525 N 66th Street Scottsdale, AZ 85251

$515,000

2 Beds

2 Baths

1,962 SqFt

Status Active

MLS # 6633331

Property Type Townhouse

Price Type --

This STUNNING REMODEL has a unique, open floorplan that will be the envy of everyone! Owner has created a home that is open. light and bright, with designer touches everywhere! Beginning with the new tile flooring & reconfigured chef's kitchen, enjoy the raised ceilings, gorgeous two-toned cabinets, sparkling quartz countertops & glass backsplash tile, and all new kitchen island & ''smart'' Thermador stainless appliances! This open kitchen is truly one-of-a-kind and it opens beautifully to the adjacent family room providing a wonderful layout to relax or entertain guests! The family/dining area also has raised ceilings, and a wall of windows that brings in lots of light, and views to the beautifully landscaped backyard! The home office/den connects to the family room, and easily converts to a 3rd bedroom! Step into the master bedroom & bath, again featuring gorgeous new modern tile finishes and cabinetry, and a new walk-in shower! Master bdrm includes a large walk-in closet, and views to the professionally landscaped front yard & garden. The second bathroom is also completely remodeled with gorgeous tile & glass, perfect for spoiling your guests! Step outside to the expansive covered patio and enjoy a large lot with professionally landscaped & maintained yard & gardens! This outdoor space is perfect for relaxing, entertaining and enjoying your pets! This amazing guarded-community offers tons of ammenities including 3 pools, tennis & gaming courts, a workout facility and event space, and peace-of-mind with complete exterior maintenance of the home! All these amazing home features PLUS its perfect location in the heart of Scottsdale with quick access to Fashion Square Mall, Old Town Scottsdale, tons of restaurants, golf and hiking...you don't want to miss this incredible home!

View Property

3935 E Rough Rider Road Phoenix, AZ 85050

$515,000

2 Beds

2 Baths

1,386 SqFt

Status Active

MLS # 6695950

Property Type Townhouse

Price Type --

Located in the heart of Desert Ridge, this ground floor single story 2 Bed 2 Bath condo is beautifully situated in the prestigious gated community, Villages at Aviano. As you walk in to this immaculately kept home you will notice the open floor plan perfect for entertaining guests. This alluring home features a neutral palate, antique white kitchen cabinets, an abundance of granite counter space, travertine flooring, high ceilings with lots of light flooding in. Over 16k in recent additions (see list in documents) which includes high end security screen and gate, new window blinds throughout, epoxy in garage, carpet and light fixtures and more. Perfect for both seasonal enjoyment or as a primary home, Aviano community club house has so much to offer such as a resort style pool, work out facility, tennis and pickle ball courts, and professionally run community activities. In addition, The Villages has its own private pool for you to relax at located right across the street from the condo. Additional attractions include Desert Ridge Marketplace and High Street with so many entertainment, shopping and dining options all just minutes away! Major highways, 101 and 51, lead you to the airport in less than 30 min.

View Property

8174 W Tonto Lane Peoria, AZ 85382

$515,000

4 Beds

2 Baths

1,701 SqFt

Status Active

MLS # 6701039

Property Type Single Family Residence

Price Type --

Welcome home to your new 4 bedroom, 2 bathroom fully updated home in the desirable community of Fletcher Heights. Step inside to your open floor plan living, dining and bonus room all complete with wood plank tiles in all the right places. The kitchen has been updated with quartz countertops, tile backsplash and matching stainless steel Samsung appliances. Down the hall you will find 4 bedrooms with new carpet, a guest bath with all the trendy finishes one could desire. The primary bedroom is complete with walk in closet, separate toilet room and updated vanity and finishes. As you step out back you are greeted by a covered patio that leads you to ample concrete space, with a pergola to sit under and enjoy the commercial grade turf yard. You wont want to miss this one!

View Property

14253 S Cholla Canyon Drive Phoenix, AZ 85044

$515,000

3 Beds

2 Baths

1,438 SqFt

Status Active

MLS # 6702271

Property Type Single Family Residence

Price Type --

ONE STORY GEM IN MOUNTAIN PARK RANCH!! Vaulted ceilings. 20'' neutral tile/ plush carpet throughout & 2-tone paint. Kitchen remodeled with granite and stainless appliances. Baths with granite, & white cabinets and newly tiled shower/tubs. Newer windows in bedroom area & newer great room patio doors. Nice backyard w/large patio Perfect location in the Ahwatukee/Foothills area with great shopping/restaurants and freeway access.

View Property

9435 E Lynwood Street Mesa, AZ 85207

$515,000

3 Beds

2 Baths

1,693 SqFt

Status Active

MLS # 6674375

Property Type Single Family Residence

Price Type --

Welcome Home! Talk about privacy and wide-open spaces! With no close neighbors to the West or the South you get some beautiful views of our mountains and desert landscape. Tile throughout the whole home, 3 large bedrooms, large master closet, great kitchen layout on an oversized lot.

View Property

3378 E Merlot Street Gilbert, AZ 85298

New

$515,000

3 Beds

2 Baths

1,665 SqFt

Status Active

MLS # 6707461

Property Type Single Family Residence

Price Type --

Fantastic corner lot with North/South exposure in prestigious Seville Golf & Country Club. Beautiful travertine in main areas and carpet in the bedrooms. Eat in kitchen is complete with center island, breakfast bar and granite countertops. Large master suite has carpet with ceiling fan and a picture window. Full bathroom with double sink vanity. Spacious walk in closet! Very private backyard features a covered patio with pavers and the perfect amount of grass.

View Property

11117 W Sunflower Place Avondale, AZ 85392

$515,000

4 Beds

2 Baths

2,223 SqFt

Status Active

MLS # 6700938

Property Type Single Family Residence

Price Type --

THIS IS THE ONE! * Private Pool + 4 Bedrooms + 2,233 sq.ft. in the sought after GARDEN LAKES Neighborhood! * Gorgeously REMODELED and Shows like a MODEL Home * Designer Touches T/O * Quartz Kitchen Counters. Stainless Steel Appliances * All NEW Flooring & Tall Baseboards * Fresh Interior & Exterior Paint. NEW Fixtures t/o. LARGE Master Bedroom w/ Two Closets * Separate Family, Living, and Dining Rooms ** NEW ROOF ** NEW A/C in 2023 * GREAT SCHOOLS * Dual Pane Windows * Large Patio for Entertaining * POOL just Acid Washed & Serviced, Ready for the Summer! * Near the LAKES/Greenbelt/Playground/Sport Court/Walking Paths * MOVE-IN READY! ** Ask About Our Current BUYER INCENTIVES **

View Property

942 E Southern Avenue Phoenix, AZ 85040

$515,000

3 Beds

2 Baths

1,708 SqFt

Status Active

MLS # 6683094

Property Type Single Family Residence

Price Type --

This land is set up for businesses! It's zoned for Commercial C-2 and has space for you to live on-site. Located at the corner of Southern and S. 10th St., this 17,955 square foot lot gets a lot of traffic—almost 50,000 cars pass by every day. The house comes with a basement of about 168 square feet for storage. There's also a garage that's been turned into a studio with a full bathroom and a small kitchen area including a sink and stove.

View Property

12931 W Blue Bonnet Drive Sun City West, AZ 85375

$515,000

3 Beds

2 Baths

2,033 SqFt

Status Active

MLS # 6702887

Property Type Single Family Residence

Price Type --

2024 TOP TO BOTTOM REMODEL! 2,033 square foot 3 bedroom / 2 bathroom home on nearly a ¼ acre lot!. New low E vinyl frame windows throughout including the Arcadia door! Open kitchen great room floor plan! Gourmet kitchen boasts white Shaker cabinetry, large center island with breakfast bar seating and trendy pendant lighting, quartz counter tops, upgraded sink and faucet, walk in pantry, large eat - in kitchen dining area, Butler area, and an LG stainless steel appliance package; refrigerator conveys! Enormous great room! Flush mount LED lighting! Upgraded LVP plank flooring (no carpet in home!) new interior paint and baseboards. Trendy light fixtures and ceiling fans throughout. All new drywall, ductwork and blown - in insulation. Large master suite with walk - in closet. One secondary bedroom also has a walk - in closet! New vanities, sinks, faucets, fixtures, and toilets in both bathrooms. Both bathrooms have double sinks and large walk in showers with tile surrounds! ADA compliant doorways. New electrical switches and outlets throughout. Large laundry room with sink, washer and dryer. Low maintenance front and back yard landscape. This is a must see! All facts and figures to be verified by buyer or buyer's representative.

View Property

1201 E Northshore Drive Tempe, AZ 85283

$515,000

3 Beds

2 Baths

1,454 SqFt

Status Active

MLS # 6702328

Property Type Townhouse

Price Type --

Welcome to your lakeside retreat in Tempe's charming Lakes community! This freshly remodeled 3bd, 2bath upper level home is all about laid-back luxury and those unbeatable lake views! Step into an open, airy and updated home with vaulted ceilings, wood burning fireplace, updated kitchen to include: new cabinets, stainless steel appliances and quartz countertops. Newer high-end vinyl windows, doors and wood flooring. Large bedrooms and updated bathrooms! Runaway point offers a private community pool with lake view,. The Lakes community offers year-round swimming, pickleball, volleyball, racketball & basketball courts. Fitness center, BBQ Grills and playground. Conveniently located near shopping, dining, entertainment, ASU, freeways, and close to the airport!

View Property

16286 W Scarlet Canyon Drive Surprise, AZ 85374

$515,000

2 Beds

2 Baths

2,035 SqFt

Status Active

MLS # 6599560

Property Type Single Family Residence

Price Type --

This recently upgraded gem boasts new lustrous vinyl flooring that adds a touch of modern elegance to the interiors. The entire space has been thoughtfully painted, creating a fresh and inviting atmosphere throughout. Prepare to be amazed by the brand-new white cabinets gracing both the kitchen and bathrooms. These cabinets not only offer ample storage but also lend a clean and sophisticated look to the living spaces. The countertops have been upgraded to luxurious quartz, adding a touch of class and durability to your living experience. With an office included in the layout, this home caters to the needs of remote work or a quiet study space, providing the perfect blend of comfort and functionality. As part of a wonderful community, you'll have access to a golf course that is sure to delight golf enthusiasts. Imagine leisurely rounds of golf against the backdrop of the stunning Arizona landscape. Experience modern living combined with tasteful design in a community that offers both convenience and recreational amenities!

View Property