What’s Ahead For Mortgage Rates This Week – September 6, 2016

Last week’s economic reports included readings on pending home sales, construction spending and consumer sentiment. Case-Shiller Home Price Indices for June were released, along with several labor-related reports including national unemployment, ADP Payrolls and Non-Farm Payrolls were also released along with weekly readings on new jobless claims and Freddie Mac’s survey of average mortgage rates.

Case-Shiller: Home Price Growth Holds Steady in June

According to the Case-Shiller 20-City Home Price Index for June, average national home prices held steady with a seasonally adjusted annual growth rate of 5.10 percent in June. The top three cities for home price growth were Portland, Oregon with a reading of 12.60 percent; Seattle, Washington followed with a reading of 11.00 percent. Denver, Colorado home prices grew by 9.20 percent year-over-year.

San Francisco, California, which had posted highest year-over-year price gains in recent months slipped with a reading of 6.40 percent year-over-year in June. This could signify a cooling of rapid price gains in high demand metro areas where home prices have become unaffordable for many buyers.

Construction Spending Flat in July, Pending Home Sales Increase

While builder sentiment has been strong, construction spending was flat in July as compared to an expected reading of 0.60 percent and June’s reading of an 0.90 percent increase in construction spending. The Commerce Department reported that pending home sales increased 1.30 percent in July, which exceeded expectations of 0.90 percent growth and June’s negative reading of -0.80 percent. July’s reading appeared to even out June’s unexpected slump in pending sales, which are considered an indicator for future closings and home loan volume.

Mortgage Rates, New Jobless Claims Rise

Mortgage rates rose for all three loan types reported by Freddie Mac. The rate for a 30-year mortgage rate rose three basis points to 3.46 percent; the average rate for a 15-year mortgage also rose three basis points to 2.77 percent. The average rate for a 5/1 adjustable rate mortgage jumped by eight basis points to 2.83 percent. Discount points averaged 0.50 percent, 0.50 percent and 0.40 percent respectively. Mortgage rates rose after the yield on 10-year Treasury Notes increased in response to a speech given by Fed Chair Janet Yellen that indicated that the target federal funds rate could be raised in December.

263,000 new jobless claims were filed as compared to expectations of 265,000 new claims and the prior week’s reading of 261,000 new claims. Job growth slowed in August; the Commerce Department reported a reading of 151,000 new jobs in its Non-Farm Payrolls report. Analysts expected 170,000 new jobs, which fell significantly short of July’s reading of 275,000 jobs created. Non-Farm Payrolls includes data for public and private sector jobs.

Labor Reports: Job Growth Slows, National Unemployment Holds Steady

ADP Payrolls also reported fewer private sector jobs created in August with a reading of 177,000 new jobs as compared to 194,000 private sector jobs created in July. Analysts characterized August jobs reports as “fickle” due to high numbers of summer vacations and company-wide summer holiday closures.

August’s reading for national unemployment held steady at 4.90 percent.

While slower growth in home prices and job creation could signal an economic slowdown, there was good news as consumer confidence rose to 101.7 in August; this reading surpassed the expected reading of 97.0 and July’s reading of 96.7.

What’s Ahead

This week’s scheduled economic news is lean due to the Labor Day holiday on Monday. In addition to weekly reports on new jobless claims and mortgage rates, reports on job openings and the Federal Reserve’s Beige Book report will be released.

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

1977 E Georgia Ruth Lane San Tan Valley, AZ 85140

$474,990

4 Beds

3 Baths

2,668 SqFt

Status Active

MLS # 6678699

Property Type Single Family Residence

Price Type --

New Construction!! Nestled perfectly in the sought after city of San Tan Valley. Adorable 4 bedroom 3 bathroom home with a 2 car garage. Our Ashton Woods Coastal Collection, spacious owner's suite, stainless steel appliances, granite kitchen countertops and classic shaker style cabinets makes this a place to call home. Conveniently located North of Combs Rd and Schnepf Rd. As with all of our homes, this one is also constructed as ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability!

View Property

11816 S 173rd Lane Goodyear, AZ 85338

New

$474,990

3 Beds

2 Baths

1,841 SqFt

Status Active

MLS # 6703353

Property Type Single Family Residence

Price Type --

Situated on a homesite facing sweeping views of the Estrella Mountains. This beautiful home boasts 3 large bedrooms and a private enclosed study. The open-concept kitchen includes ample countertop space, built in appliances, designer backsplash, a center island, and an expansive walk-in pantry. Host your next dinner party in the open dining and great room then transition to the covered back patio for dessert and a nightcap. Additional highlights include wood like tile, 8' interior doors, soft water loop with drain, 8' garage door, and so much more! Located within the Estrella masterplan with 2 state-of-the-art Residents Clubs including fitness centers and pools, Starsplash Water Park, and a community lake with activities including boat rentals.

View Property

40870 W Agave Road Maricopa, AZ 85138

$474,990

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6399861

Property Type Single Family Residence

Price Type --

THIS HOME IS READY FOR MOVE-IN! It's the popular Belice - 3 bedrooms, 2 baths and 3 car tandem garage. We're building this home with an 8' garage door, garage service door, 12x8 sliding glass door off of the great room that leads out to your extended covered patio. Gas appliance package with microwave. Lausanne Espresso cabinets with 42'' upper cabinets in kitchen. Himalaya white granite countertops in kitchen and the enhanced kitchen island with matching backsplash. Upgrade flooring includes 12x24 Linden Pointe Grigio tile in all areas of the home except bedrooms/closets. Owners bath has separate tub and shower with Artic white tile surrounds. Dual sinks at bath 2. Interior two tone Gray paint throughout and so much more. Water Company is Santa Cruz Water Company and Sewer.

View Property

10840 E Flintlock Drive Sun Lakes, AZ 85248

$474,990

3 Beds

2 Baths

1,971 SqFt

Status Active

MLS # 6641292

Property Type Single Family Residence

Price Type --

Popular expanded Alameda floorplan very near Palo Verde clubhouse in Cottonwood/ Palo Verde which offers 2 clubhouses/restaurants & private golf courses! 3 bedrooms, spacious great room, nice kitchen with granite countertops, roll out shelves, large pantry & kitchen nook. Neutral paint inside and all lighting fixtures replaced with LED inside & out giving the home a more modern look. Back yard has large covered patio and landscaping is mature with trees & citrus in a private setting. Driveway & walkway have been pavered. Newer roof, A/C & water heater - all important things replaced - come see it today!

View Property

16854 W Cortaro Point Drive Surprise, AZ 85387

$474,990

2 Beds

2 Baths

2,149 SqFt

Status Active

MLS # 6659969

Property Type Single Family Residence

Price Type --

Spacious Verano model... Priced to sell. 2 bedrooms and a den. Large entertaining space through out. Large extended covered patio. Close to the pool, work out facility and outdoor sports like Golf and Pickle Ball courts. Electric cook top but also plumbed for gas underneath cook top. All appliances included, including an extra laundry room refrigerator.

View Property

39957 N High Noon Way Anthem, AZ 85086

$474,950

3 Beds

2 Baths

1,432 SqFt

Status Active

MLS # 6702301

Property Type Single Family Residence

Price Type --

3BD 2BA 1432 SQ. FT SINGLE LEVEL HM. EAT IN KITCHEN W/ BREAKFAST BAR, 9 FT CEILINGS, CEILING FANS, EXTENDED COVERED PATIO, EASY CARE LANDSCAPING. BRAND NEW CARPET IN BEDROOMS & BRAND NEW VINYL PLANK FLOORING THROUGHOUT. FRESHLY PAINTED.

View Property

1947 Clear Creek Drive Happy Jack, AZ 86024

$474,900

3 Beds

1 Bath

864 SqFt

Status Active

MLS # 6606896

Property Type Single Family Residence

Price Type --

View Property

143 S Hancock Trail Casa Grande, AZ 85194

$474,900

3 Beds

2 Baths

2,159 SqFt

Status Active

MLS # 6677542

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite home boasts luxurious amenities and thoughtful upgrades, promising the perfect blend of comfort and style. As you step through the front door, you're greeted by a warm ambiance accentuated by the new flooring installed in 2020, inviting you to explore further. The spacious living area beckons with its open layout. For the culinary enthusiast, the gourmet kitchen is a true delight, featuring modern appliances, ample cabinetry, and a convenient breakfast bar. The master is split, complete with a permitted addition providing extra space and versatility. But the real piéce de résistance awaits outside. The backyard oasis has a heated saltwater pool and spa, perfect for year-round relaxation and enjoyment.

View Property

2373 N Riverside Drive Florence, AZ 85132

$474,900

4 Beds

2.5 Baths

2,569 SqFt

Status Active

MLS # 6693815

Property Type Single Family Residence

Price Type --

Seize the opportunity to own this highly maintained single-story gem now available! Situated on a premium lot with no neighbors behind, this beauty boasts over $54,000 in upgrades, w/c includes a desert front yard, a 3-car garage, and a private courtyard. Discover a generous open layout filled with natural and recessed lighting and features tall ceilings, graceful archways, a neutral palette, tile flooring, and plush carpeting in all the right places. Kitchen is designed with SS appliances, ample wood cabinetry/counter space, a pantry, and an island w/a breakfast bar. Double doors reveal a large den ideal for a home office! Main suite has a full ensuite and a walk-in closet. Enjoy alfresco dining under the covered patio in the perfectly sized backyard with pavers! Don't miss out!

View Property

6460 W Springfield Way Florence, AZ 85132

$474,900

3 Beds

2 Baths

2,176 SqFt

Status Active

MLS # 6688887

Property Type Single Family Residence

Price Type --

**Custom Feel Home in the award winning community of Anthem at Merrill Ranch** Pride of ownership and amazing interior design make this home feel custom and very inviting. Open floor plan with amazing finishes like wood vinyl plank flooring, archways, custom fans/lighting, gourmet kitchen with custom hood and wall ovens, stainless steel appliances, QUARTZ counter tops and much more. This is a great lot with a large, private backyard...covered patio, extended paver patio, artificial turf, gazebo and no neighbors across the street. You'll feel right at home in this beautiful home and this amazing community. Merrill Ranch has everything you're looking for...pools, water parks, fishing, golf course, restaurant, activities, clubs and more. Don't miss this one!

View Property

4330 W Irwin Road Laveen, AZ 85339

$474,900

4 Beds

2.5 Baths

2,284 SqFt

Status Active

MLS # 6689303

Property Type Single Family Residence

Price Type --

Amazing Home offering 4 Bedrooms and 2.5 Baths and a Sparkling Pool! Seller is currently Remodeling the Home. Close to Schools, Shopping and Freeway. Seller is offering 2% concessions towards Buyers closing costs or interest rate buy down. A Must See!

View Property

17239 W Desert Sage Drive Goodyear, AZ 85338

$474,900

3 Beds

2 Baths

1,842 SqFt

Status Active

MLS # 6691853

Property Type Single Family Residence

Price Type --

The search is over! This 3-bedroom, 2-bath residence features a 2-car garage, a paver driveway, and an attractive desert landscape. Discover a great room with high ceilings, a soothing palette, blinds for privacy, and durable tile flooring. The kitchen boasts granite counters, ample wood cabinetry with crown molding, stainless steel appliances, pendant/recessed lighting, a pantry, and an island with a breakfast bar for casual dining. The main bedroom is complete with a bathroom that includes dual sinks, a raindrop shower, and a walk-in closet. Enjoy breathtaking sunsets in the backyard, showcasing a covered patio and stunning mountain views. This gem will sell fast! Other upgrades Include: upgraded Refrigerator, washer Dryer inc. - RO water filter, water softener, Garage door height 8 FT- Many elect media outlet upgrades, garage walls & additional ceiling insulation, epoxy floor in Garage, garage laundry tub, tankless H20 heater, master bath shower & tile upgrades, oversized kitchen island (HUGE), Extended granite counter tops, tile upgrades throughout the entire house (no carpet), HVAC 16 seer high efficiency, window blinds, high speed fiber internet installed, Low maintenance landscaping. Great Location!!!! Surrounded by majestic mountains and wide-open desert vistas, life in Estrella is a masterpiece of harmonious balance dynamic, yet serene.. offering young couples, families and retirees a resort-inspired lifestyle with state-of-the-art amenities

View Property