What’s Ahead For Mortgage Rates This Week – July 25, 2016

Housing Starts, Building Permits Issued Rise

Commerce Department reports on housing starts and building permits issued were released Tuesday. Housing starts rose to 1.189 million in June against expectations of 1.165 million starts and May’s downwardly revised reading of 1.135 million starts, Housing starts rose by 4.80 percent on a seasonally-adjusted annual basis. This is good news for housing markets, but analysts said that demand for homes continued to exceed available supplies.

Building permits issued also rose in June to 1.53 million as compared to May’s reading of 1.136 million permits issued.

Existing Home Sales Increase: National Association of Realtors®

Sales of previously-owned homes rose three percent year-over-year and reached their highest level since February 2007 in June. Existing home sales rose by 1.10 percent in June to a seasonally-adjusted annual rate of 5.57 million sales. Analysts forecasted a reading of 5.48 million sales of pre-owned homes based on May’s reading of 5.51 million sales.

Analysts said that first-time home buyers are returning to housing markets and helped boost June sales and cited changing buyer demographics that suggest a return to owner-occupant home sales. First-time buyers accounted for 33 percent of pre-owned home sales in July, which was their highest reading since 2012. First-time buyers are important to housing markets as their purchases of existing homes enable current homeowners to sell their homes to buy larger homes or to relocate.

Mortgage Rates Rise, New Jobless Claims Fall

Mortgage rates rose across the board last week according to Freddie Mac’s weekly report. Rates for a 30-year fixed rate mortgage averaged 3.45 percent, which was three basis points higher. The average rate for a 15-year fixed rate mortgage also rose three basis points to 2.75 percent; rates for a 5/1 adjustable rate mortgage averaged 2.78 percent. Discount points averaged 0.50 percent for fixed-rate mortgage and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims sustained their streak and fell last week to 253,000 against predictions of 260,000 new claims filed and the prior week’s reading of 254,000 new claims filed. Analysts hailed declining jobless claims as a strong indicator that the economy and labor markets continue to improve. New jobless claims have remained below the key reading of 300,000 for 73 weeks. The four-week rolling average of new jobless claims fell by 1250 claims to 257,750. This reading is considered less volatile than week-to-week readings and offers evidence of steady improvements in labor markets.

What’s Ahead

Next week’s scheduled economic news includes the S&P Case-Shiller Housing Market Index, readings on new and pending home sales and the FOMC committee’s post-meeting statement on Federal Reserve monetary policy decisions. Analysts widely expect the Fed to hold firm on its current federal funds rate of 0.25 to 0.50 percent.

Weekly reports on mortgage rates and new jobless claims will be released along with a reading on consumer confidence.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

22685 E Saddle Way Queen Creek, AZ 85142

$579,990

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6740903

Property Type Single Family Residence

Price Type --

**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Topaz plan is highly sought after and is the decorated model floorplan with 3 bedrooms and 2.5 baths. Options for structural upgrades include adding a butler's pantry, teen room, 12'' sliding glass door and so much more. This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances . Amazing spa like primary suite with dual vanities, ample linen storage and separate tub and shower. This floorplan is accompanied by an oversized den and sizable secondary bedrooms. This home comes standard with 10' ceilings, front yard landscaping, paver driveway, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

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32405 N 122nd Lane Peoria, AZ 85383

$579,990

4 Beds

3 Baths

2,373 SqFt

Status Active

MLS # 6748747

Property Type Single Family Residence

Price Type --

MLS#6748747~January Completion! The Erikson floor plan at Mystic Discovery exemplifies open concept living and is perfect for entertaining on both floors! The first floor is the heart of the home, with an open main living area that holds a spacious gathering room with a casual dining area and an open kitchen. The designer kitchen features a large island and step-in pantry. A downstairs guest bedroom is located at the front of the home which is perfect for overnight guests. Upstairs, the owner's suite features a garden tub and shower and a spacious walk-in closet. A loft and two additional bedrooms and the laundry room round out this lovely home. Structural options include: paver front porch, 2' garage extension, super shower at owner's bath, and soft water loop.

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16728 W Saguaro Park Lane Surprise, AZ 85387

$579,990

3 Beds

2.5 Baths

2,529 SqFt

Status Active

MLS # 6770954

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Parklane floor plan offers 3 bedrooms, 2.5 baths, a 4' garage extension, no-step walk-in shower, and 8' interior doors. Additional highlights include built-in appliances, quartz kitchen countertops, a gas stub in the kitchen, a backyard perfect for BBQs, and a gas dryer connection in the laundry.

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16405 W Desert Mirage Drive Surprise, AZ 85388

$579,990

4 Beds

3 Baths

2,623 SqFt

Status Active

MLS # 6754285

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Topaz with 4 bedrooms + study and 3 full baths. Multi slide door off the great room that leads out to the extended covered patio. Stainless steel gas appliance package with 30'' cooktop, wall oven, micro, and hood. Barnett Maple ''Boulder-(Gray) cabinets with 42'' kitchen uppers, pull out trash drawer with two bins. AZT Hana Sky quartz countertops in kitchen and at the enhanced kitchen tops. Stainless steel under mount single bowl sink in the kitchen. DT Broxburn Gray 6x24 plank floor with 5'' baseboards and 3 1/4'' door casings. 8' garage door with two remotes and so much more. Please verify all information with onsite agent. Thank you!

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16421 W Desert Mirage Drive Surprise, AZ 85388

$579,990

3 Beds

3 Baths

2,224 SqFt

Status Active

MLS # 6784421

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Crimson floor plan sitting on a lot that is north/south exposure and backs to landscape area - NO two story homes on either side. Great room concept with 3 bedrooms + den with 2.5 baths and a 3 car garage. Paver drive, walk and entry. Extended covered patio perfect for entertaining. Bay window at owner's suite. Sonoma Maple Linen-off white cabinets with matte black hardware, 42'' kitchen uppers and a pull out trash drawer. Stainless steel gas appliance package with a 30'' cooktop, wall oven, micro and hood. AZT Quartz tawny countertops in kitchen and all baths except powder bath. Upgrade flooring includes Beaumont Olmo 7x24 plank tile in all areas of the home except bedrooms and closets and so much more. Please verify all information with onsite agent. Thank you!

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29317 N 31st Lane Phoenix, AZ 85083

$579,990

5 Beds

3 Baths

1,953 SqFt

Status Active

MLS # 6746684

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender. This single-story home features ample space for growing families. Four bedrooms are lined up in a neat row, including the owner's suite, while an additional bedroom near the entry offers an ideal space for overnight guests. An open floorplan hosts the kitchen, dining room and Great Room with a spacious covered patio attached. Photos are renderings of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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15635 W Montecito Avenue Goodyear, AZ 85395

$579,990

4 Beds

2.5 Baths

3,083 SqFt

Status Active

MLS # 6738508

Property Type Single Family Residence

Price Type --

Your DREAM home is here in Palm Valley! Bright & light interior showcases neutral paint, recessed lighting, and tile & soft carpet t/out. Featuring a spacious living/dining room and a separate family room w/SURROUND SOUND, you have ideal spaces for relaxation or gatherings! The large kitchen boasts granite counters, a walk-in pantry, a breakfast bar, cozy nook, wood cabinetry w/crown molding, & courtyard access. All bedrooms await upstairs! Oversized main bedroom has a double-door entry, BALCONY access, & a SEATING room! Its ensuite includes dual sinks, separate tub/shower, & a walk-in closet. Discover the entertainer's backyard with a covered patio, lush lawn, well-laid pavers, & a fenced pool for year-round enjoyment! Plenty of room for ALL your TOYS w/ and RV GATE & 3 CAR GARAGE. WOW!

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1205 W Golden Ore Pass Apache Junction, AZ 85120

$579,920

4 Beds

3 Baths

2,575 SqFt

Status Active

MLS # 6765389

Property Type Single Family Residence

Price Type --

REDUCED! Experience the unique offerings of this home and buying journey. Welcome to Mariposa at Blossom Rock. The single-story Agave design, presents an open-concept floorplan featuring an inviting kitchen and a bright great room with a separate dining area that seamlessly connects to the private, covered outdoor room. The 3-car garage leads to a convenient drop zone, flex room/office, and more. $57,000 in upgrades are included. ***Special financing options are available.*** Blossom Rock's amenities are designed to inspire outdoor living, including community parks, miles of trails, beautiful lakes, signature events, and more. Moreover, perfect blend of tranquility and adventure to enrich your everyday life.

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26966 N 168th Lane Surprise, AZ 85387

$579,900

4 Beds

3 Baths

2,422 SqFt

Status Active

MLS # 6780140

Property Type Single Family Residence

Price Type --

FORMER MODEL HOME! This exquisite 4-bedroom, 3-bathroom, single story gem boasting an open concept layout, spacious study, gourmet kitchen, and a center meet 12ft sliding glass door, inviting you out to a fully completed backyard, perfect for entertaining and relaxation! This home is beautifully finished with high-end details throughout, showcasing the latest in modern design. Smart Home technology enhancements that promote comfort and convenience, allowing you to control your environment with ease. Don't miss the chance to own this stunning model home, offering both luxury and functionality in every space! Furniture is not included, but may be offered for an additional fee.

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3487 E Delcoa Drive Phoenix, AZ 85032

$579,900

3 Beds

2 Baths

1,595 SqFt

Status Active

MLS # 6738440

Property Type Single Family Residence

Price Type --

Wow this stunning and turn key home offers all the bells and whistles. home was used as a secondary residence and highly successful short term rentals with the reviews and revenue to prove it. home features updated kitchen, flooring, pool, jacuzzi, designer touches throughout and owner willing to sell with all furniture making this a turn key property.

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20616 N Ventana Drive Sun City, AZ 85373

$579,900

2 Beds

2 Baths

2,019 SqFt

Status Active

MLS # 6750555

Property Type Single Family Residence

Price Type --

2024 OWNED solar! Years w/free electricity & NO loan pmt; 2024 NEW Roof underlayment. 2021 NEW HVAC. Invitingly spacious & delightfully updated home featuring 2 bedrooms w/walk-in closets, 2 updated bathrooms (new walk-in shower in Primary Bath) plus ofc/3rd bed. Filled w/light, elegant finishes & many extras! A tranquil interior pallet of natural hues & tones provides an ideal setting to enjoy the SW lifestyle. Live the Arizona dream as you view stunning sunrises & sunsets from your backyard, surrounded by vibrant colorful landscaping, covered tile patio, exquisite fountain, landscape lighting & misting system that will compliment any outdoor experience. Updated kitchen w/SS appliances, RO, pull-out shelves, island w/drawers, soft close cabinets. Whole home water filtration/softener. Residents in the Ventana Lakes Community enjoy friendly neighbors, four pools, jetted spas, fitness center, sports courts, catch and release fishing & a variety of clubs and activities.

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11337 E Unger Avenue Mesa, AZ 85212

$579,900

4 Beds

3 Baths

2,074 SqFt

Status Active

MLS # 6771730

Property Type Single Family Residence

Price Type --

Discover modern living with stunning mountain views in this beautifully upgraded Ashton Woods home at Destination at Gateway, built in 2022. Boasting 4 spacious bedrooms, 3 full baths, plus a versatile den/flex space, this home offers everything you need. The open-concept design features wood-like tile floors throughout, a large center sliding door for seamless indoor-outdoor living, and kitchen includes sleek shaker cabinets, built-in Roku lighting, and quartz countertops. Why wait for a new build when this home is move-in ready and feels brand new? Ideally located near the new Fry's, and major freeways (24, 202, and 60), with access to excellent school districts. A must-see in a prime location!

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