Mortgage Interest Rates Reverse Course in 2017

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase. Some thought we could see rates hit 5-5.5% by the end of the year.

However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by Freddie Mac). Here is a graph of mortgage rate movement since the beginning of the year:

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

Projections still call for an increase…

Four major entities (Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors) are still projecting that rates will increase by the fourth quarter of the year.

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

Bottom Line

No one knows for sure where interest rates will be in six months. However, if you are thinking about buying your first house or trading up to the home of your dreams, you can still get a mortgage at historically low rates RIGHT NOW.  Give me a call to get started.  J.P. Cook – 602-320-4253.

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491 N 159th Place Gilbert, AZ 85234

$1,499,950
3 Beds
2 Baths
2,335 SqFt
Status Active
MLS # 6777056
Property Type Single Family Residence
Price Type --
Circle G Ranch GEM. Every inch of this acreage home has been updated. The open and airy floorplan is an entertainer's dream. The custom kitchen boasts a large island and stunning walnut bar top, coffee bar, built-in hutch, corner nook that overlooks the roomy family room with beautiful fireplace. There are tons of custom cabinetry, and the walk-in pantry is an organizer's dream. Enjoy the library/office with built-in shelves while gazing out the window to your beautifully landscaped front yard. The back yard is straight out of a magazine. Step onto the massive travertine back patio and follow the winding travertine paths all throughout the yard. Enjoy the warm temps with a huge custom pool, swim up bar with top-of-the-line grill, huge waterfall with slide and a grotto. For cooler temps enjoy toasting marshmallows around the elevated built-in firepit area. The expansive grassy backyard also offers a workshop with electrical, a shed, and your very own pickleball court and basketball half-court. There is even room for an RV with 220v electric. All of this luxury is surrounded by a block wall and huge trees for the ultimate privacy. The car enthusiast will love the updated and climate controlled four car garage. Or use some of the space for a workout room, man cave, craft room, or extra living space. This home is in move-in condition and offers a new AC unit, new roof, upgraded electrical panel, new windows, new water heater, whole house water softener/filtration and tile throughout.

11460 N 71 Street Scottsdale, AZ 85254

$1,499,900
4 Beds
2 Baths
1,868 SqFt
Status Active Under Contract
MLS # 6749763
Property Type Single Family Residence
Price Type --
FANTASTIC REMODELED FAMILY HOME ** BEAUTIFUL MODERN RECENTLY COMPLETED NEWLY UPDATED ** 4 BEDROOMS ** 2 BATHROOMS ** HUGE OPEN GREAT ROOM ALL NEW KITCHEN AND DINING ** ALL NEW FLOORING ** ** NEW INTERIOR AND EXTERIOR PAINT ** NEW AC 2021 ** NEW GAS WATER HEATER 2021 ** BOTH MASTER AND GUEST BATHROOMS COMPLETELY REMODELED ALL NEW CABINETS & COUNTERTOPS IN KITCHEN AND BATHROOMS ** NEW QUARTZ COUNTERTOPS ** NEW ROOF 2019 ** NEW BARN ROOF 2023 ** NEW FRONT AND GABLE END CONCRETE BOARD SIDING 2022 ** NEW DUAL PANE WINDOWS 2012 ** NEW EXTERIOR DOORS 2022 ** NEW COVERED RAISED PATIO ROOF ** MUST SEE !!!!!

18850 E Peachtree Boulevard Queen Creek, AZ 85142

$1,499,900
4 Beds
4.5 Baths
4,371 SqFt
Status Active
MLS # 6768257
Property Type Single Family Residence
Price Type --
This GORGEOUS FORMER MODEL home on an expansive corner lot is OVERFLOWING with over $320K in DESIGNER upgrades!! STUNNING front courtyard w/FIREPLACE! GOURMET kitchen w/gas cooktop, quartz countertops, island w/sink, tiled backsplash, maple cabinets + GE stainless appliance suite w/wall ovens! Open concept great room w/GORGEOUS multi-slide door for indoor/outdoor living! Separate formal dining room, office & media room! PRIVATE owner's suite + ensuite bath w/walk-in shower + soaking tub! SO many living options in this home! CUSTOM window treatments convey! FANTASTIC backyard OASIS w/built-in BBQ, fire pit, pavers, faux grass & pergola backing to open space! This is LUXURY living! Community amenities include a lake, pickle ball and basketball courts, splash pad + MORE! WELCOME HOME!

17506 E Desert Vista Trail Rio Verde, AZ 85263

$1,499,900
3 Beds
3.5 Baths
2,681 SqFt
Status Active
MLS # 6781435
Property Type Single Family Residence
Price Type --
What a RARE find! Luxury meets modern comfort in this stunning home in the prestigious gated Community of Trilogy at Verde River. Situated on a golf course lot with a great curb appeal highlighted by a well-manicured landscape & paver driveway. The cozy courtyard, with a fountain wall & fireplace, will greet you upon entering the residence. The interior exudes elegance with stylish light fixtures, a designer palette, abundant natural light, and wood-look flooring throughout. You'll LOVE the desirable open layout paired with surround sound, exposed beams, and multi-panel pocket sliding doors merging the inside & outside activities! The gourmet kitchen boasts granite counters, ample staggered cabinetry, a subway tile backsplash, a huge prep island, and high-end SS appliances w/cooktop gas. The den comes with built-in bookshelves! Enter the owner's suite to find sliding doors to the back and a lavish bathroom with dual vanities, a soaking tub, a sit-down shower, & two walk-in closets. PLUS! You also have a CASITA with a separate exit, a wet bar, & a bathroom. The laundry room has a built-in desk & cabinetry. Beyond the interiors, the large backyard holds its own charm! A flagstone-covered patio, built-in BBQ, additional seating areas, and artificial turf complete the picture. The view fence provides unobstructed vistas of the mountains & golf course, allowing you to enjoy the natural beauty surrounding your home entirely. PLUS! Take advantage of RESORT-STYLE amenities, including an 18-hole championship golf course, a clubhouse w/fitness center & spa, and sparkling pools. Residents enjoy pickleball & tennis courts, hiking trails, and various dining options like a full-service restaurant & wine bar, creating a perfect blend of luxury & community. Experience gracious living at its finest! Wow, just WOW!

19974 E El Nido Lane Litchfield Park, AZ 85340

$1,499,812
4 Beds
3.5 Baths
3,250 SqFt
Status Active
MLS # 6752380
Property Type Single Family Residence
Price Type --
FORMER MODEL HOME W/RV GARAGE; fully furnished; no leaseback; incredible gourmet kitchen with Thermador appliances including sliding in gas range, hood vent, built in refrigerator, two wine refrigerators, stacked cabinets with lighted uppers, 12' sliding glass door and 12' ceilings; outdoor pool w/water feature, outdoor furniture & modern firepit; MOUNTAIN VIEWS; custom tiling, custom wall & ceiling treatments; firesprinklers, ATTACHED CASITA; 4 bed, 3.5 bath, study & 3 car plus RV GARAGE; all furniture and accessories included.

345 Coronado Trail Sedona, AZ 86336

$1,499,800
4 Beds
3 Baths
2,756 SqFt
Status Active
MLS # 6785347
Property Type Single Family Residence
Price Type --
A Sanctuary at the Edge of Sedona's Red Rock Majesty: Nestled in the heart of Uptown Sedona, this fully remodeled 2,756 -square-foot masterpiece redefines modern elegance with an organic connection to nature. Boasting four bedrooms, three bathrooms, and a sprawling 0.61-acre lot, this home is a rare convergence of tranquility. Step inside to discover a light-filled interior enhanced by brand-new windows and doors, a seamless blend of design and function that draws your gaze outward to the breathtaking Red Rock panorama. Every detail has been meticulously upgraded, from the state-of-the-art A/C system to appliances And an oversized deck that invites you to savor Sedona's famous sunsets. The newly designed Primary Ensuite provides a private retreat, offering a spa-like ambiance & unparalleled views and private sauna. The home's thoughtful placement ensures both privacy & sunlight, with a left rear corner that embraces the serenity of the National Forest. Here, your backyard becomes a gateway to endless possibility with room for a pool or bocce court. Whether you're entertaining on the expansive deck or finding solace in the quiet corners of this property, this home delivers the rare opportunity to live amid the iconic landscapes of Sedona while enjoying the finest comforts of modern living.

23006 N 86th Street Scottsdale, AZ 85255

$1,499,000
4 Beds
4.5 Baths
3,919 SqFt
Status Active
MLS # 6757661
Property Type Townhouse
Price Type --
Nestled in a quiet Pinnacle Peak corridor neighborhood, this beautiful 4 bedroom, 4,5 bathroom townhome boasts a charming old world feel with the luxury of modern, up-to-date finishes throughout. Situated on a corner homesite with only one connecting home, this end unit feels private and tranquil. A front courtyard lined with Saltillo tiles leads to a gated front entrance lush with greenery — the perfect place to enjoy your morning cup of jo. The entryway is rounded out by a gated front door for added security and style. Upon entering the home, the main level offers a front den/office/4th bedroom, formal living room with fireplace and a built-in bar situated nearby. The formal dining room features a custom built-in hutch for additional storage. The fully updated kitchen features stainless steel appliances, a large island with seating and plenty of cabinet space. As you make your way through the home, luxury vinyl plank flooring flows throughout the main living areas, accented by neutral modern tones and finishes including custom chandeliers. Upstairs, vaulted wood beam ceilings create a warm and inviting family room with a fireplace, custom built-in bar and balcony golf course views. The vaulted ceilings continue into the primary master suite outfitted with a sitting area, walk-in closet finished with barn doors, and an additional laundry space. This 3,919 sq. foot home includes a secondary master suite with an updated bathroom that has been completed with marble finishes and dual vanities. Heading to the cozy backyard, you'll find a fireplace for cool desert evenings and a built-in barbecue for grilling all year long. The space also includes a covered patio, perfect for entertaining and watching the Arizona sunset. Located across from the neighborhood park, community pool, tennis, in the La Vida community, this gorgeous townhouse is walking distance to Pinnacle Peak Country Club, shopping and dining with Market Street just a short drive away. This well-maintained home is the perfect fit for anyone looking for a touch of Spanish desert charm in the heart of North Scottsdale.

707 E Ocotillo Road Phoenix, AZ 85014

$1,499,000
5 Beds
3.5 Baths
2,990 SqFt
Status Active
MLS # 6745849
Property Type Single Family Residence
Price Type --
Welcome to this BRAND-NEW modern gem in the highly coveted North Central Phoenix neighborhood, located within the desirable Madison School District. This stunning home features an open floor plan with soaring 16-ft vaulted ceilings and 5 spacious bedrooms, 3.5 bathrooms. The gourmet kitchen features two separate sinks, a large quartz island with a waterfall edge, and huge walk-in pantry. The primary suite includes a modern bathroom with a stand alone tub and large walk in closet. There is an additional primary suite with a beautifully appointed bathroom. Stylish laundry room with two quartz countertops and ample cabinetry. Step outside to a backyard retreat with a pergola, sparkling pebble-tech pool with a Baja step, and a paver patio perfect for gatherings.

42106 N Bradon Way Phoenix, AZ 85086

$1,499,000
6 Beds
5.5 Baths
4,561 SqFt
Status Active
MLS # 6738654
Property Type Single Family Residence
Price Type --
This stunning Rochester model home features a gourmet kitchen with GE Monogram appliances, massive counter space coupled with seemingly endless cabinet, drawer and pantry storage. Definitely a chef's dream! The newly (2023) remodeled backyard is gorgeous and boasts unparalleled privacy. you simply have to see it to believe it. Anyone would be proud to entertain guests inside and outside at this home. The flooring and lighting upgrades are beautiful. Fresh paint, inside and outside mean the lucky buyer will not have to worry about painting for years to come. This home is a resort within the Anthem Country Club resort. Come see it, let us awe you!

9699 E Vantage Point Road Scottsdale, AZ 85262

$1,499,000
4 Beds
3.5 Baths
4,061 SqFt
Status Active
MLS # 6764566
Property Type Single Family Residence
Price Type --
Nestled in the intimate and picturesque subdivision of Sierra Norte in North Scottsdale, this exquisite single-level home offers a prime corner lot with ideal north-south solar orientation ensuring the sun graces the sparkling pool throughout the day. Built by Edmonds Toll, The Mediterranean-inspired architecture showcases stacked stone, graceful arches, and elegant pillars leading to a peaked roofline entrance. Step through the inviting courtyard entry, with flagstone patio and lush mature desert landscaping, to the double-door entry. Inside, you'll be greeted by a one level floor plan beginning with the engaging living room complete with a grand travertine fireplace and expansive picture windows framing captivating backyard views. The chef's kitchen is a culinary delight, equipped with Kitchen Aid appliances, a generous island, and ample counter space, including a raised linear bar and exceptional walk-in pantry. The open-concept design flows seamlessly into the casual dining area with patio access, and cozy den, where you'll find a TV area and lovely views of the outdoors, including the iconic Pinnacle Peak. The perfect setting for relaxation and intimate gatherings. The split primary suite spans the west side of the home, providing a peaceful retreat. Enter through double doors to find a spacious bedroom with a pony wall separating a cozy sitting area with direct patio access. The spa-inspired primary bath features dual walk-in closets, dual vanities with a dedicated make-up space, a soaking tub, walk-in shower with tiled bench, and a private water closet. On the east side of the home, you'll find a guest ensuite, two additional guest rooms, and a well-appointed hall bath. Each guest room offers plush carpet, ceiling fans, and operable windows, providing comfort and style for family and visitors alike. Step outside into a resort-style backyard designed for ultimate relaxation and entertainment. Enjoy al fresco dining under the covered patio or soak up the sun in the pool with its Baja entry. The raised spa and boulder feature cascades into the pool, and the elevated firepit offers the perfect spot for stargazing. The outdoor kitchen, equipped with a built-in grill and generous bar space, is ideal for hosting, while the outdoor fireplace with side bench seating provides warmth on cooler nights. Additional highlights include a separate office, a convenient laundry room, and a generous 3-car garage, providing ample storage and functionality. Plantation shutters, stone and tile countertops, a mix of tile, wood plank laminate flooring, and premium KitchenAid appliances complete the elegant yet easy-care interior. Sierra Norte is ideally located in a prime North Scottsdale location, offering privacy yet easy access to nearby dining and shopping. The subdivision has its own tennis court, covered Ramadas, grill and playground. Pima Road is nearby, ensuring quick trips into town or to the airport. Experience the best of desert living in this private sanctuary, where luxury, tranquility and convenience meet.

2026 Rustic Timbers Lane Prescott, AZ 86303

$1,499,000
3 Beds
4 Baths
4,101 SqFt
Status Active
MLS # 6766753
Property Type Single Family Residence
Price Type --
This beautiful home in Hassayampa Village has only ever known one owner and is waiting for you to call it home. From expansive views to a 3 car garage, this home offers everything in between. Enter into the great room facing the floor to ceiling stone fireplace and windows opening out to the forested views off the main level deck. Kitchen with an island, custom cabinetry and a double wall oven. Formal dining room with large picture window. Laundry room with plenty of cabinetry and a separate indoor workshop/hobby room for wherever your imagination takes you. Main level also offers separate powder room, primary suite, large den / office space, second bedroom and bathroom complete with walk-in jacuzzi tub.

7120 E Kierland Boulevard Unit 211 Scottsdale, AZ 85254

$1,499,000
3 Beds
3 Baths
1,718 SqFt
Status Active
MLS # 6777569
Property Type Apartment
Price Type --
Welcome to the luxurious lifestyle of The Optima Kierland in North Scottsdale and the premier Scottsdale urban address. Building 7120 is 12 stories with spectacular views from the rooftop pool and spa. There are 2 master suites in this largest unit on this floor on the quiet street side, not on noisy Scottsdale Road nor looking into neighboring homes, for complete privacy. 10 ft floor to ceiling windows highlight this 3bd 3ba luxury home with brand new flooring (no carpets) in the bedrooms and newly painted throughout. Separate laundry and storage room. Resort style living includes world class custom amenities: a state of the art gym, lockers, business center, conference room, massage room, 2 steam rooms, 2 hot tubs, cold plunge, squash court, massage & yoga rooms, party & theater room. All located in the famed Kierland/Scottsdale Quarter surrounded by world class Restaurants, Entertainment and Golf.

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