What’s Ahead For Mortgage Rates This Week – February 13, 2017

Last week’s scheduled economic readings were limited and included new jobless claims and Freddie Mac’s mortgage rates survey. In other news, all types of mortgage applications rose by 2.30 percent this week as compared to the prior week.

Mortgage Rates Lower, Home Loan Applications Rise

Freddie Mac reported lower mortgage rates for fixed rate and 5/1 adjustable mortgages; the average rate for 30-year fixed rate mortgages dropped two basis points to 4.17 percent. Average rates for 15-year mortgages also dropped two basis points to 3.39 percent. 5/1 adjustable mortgage rates averaged 3.21 percent, which was also two basis points lower than the previous week. Discount points averaged 0.40 percent for the three types of mortgages tracked in Freddie Mac’s weekly Primary Mortgage Market Survey.

According to the Mortgage Bankers Association, this small drop in mortgage rates caused all types of mortgage applications to rise by 2.30 percent on a seasonally-adjusted basis. Refinance applications rose two percent from the prior week, but remain 40 percent lower year-over-year. The dearth of refinancing applications was caused by two factors including many refinances were completed recently when rates were lower and homeowners currently discouraged by higher mortgage rates.

Weekly Jobless Claims Fall

Last week’s initial jobless claims fell to 234,000 as compared to expectations of 249,000 new claims and the prior week’s reading of 246,000 new claims. This was the lowest reading since 1973 and when compared to the benchmark of 300,000 new claims, shows that the economy continues to strengthen. Last week’s reading was the second lowest since recovery from the recession got underway in 2009 and represented the 101^st consecutive week that new jobless claims were lower than the 300,000 new claims benchmark. According to Labor Department data, this week’s reading sustained the longest-running consecutive period of new jobless claims below the benchmark level.

The four-week average of new jobless claims is viewed by analysts as less volatile than the week-to-week reading, but it showed similar results last week as it fell by 3750 new claims to 244,250 initial claims and reached the lowest level of new claims filed in 44 years.

What‘s Ahead

Next week’s scheduled economic releases include readings on inflation and core inflation, the National Association of Home Builders Housing Market Index and Commerce Department reports on housing starts and building permits issued.

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19606 W Grant Street Buckeye, AZ 85326

Open House

$590,000

3 Beds

2.5 Baths

2,259 SqFt

Status Active

MLS # 6786961

Property Type Single Family Residence

Price Type --

Beautifully upgraded 3 bed/2.5 bath home in the very desirable Blue Horizon subdivision. This home has a very spacious great room with a formal dining room and an eat-in kitchen. Upgrades include: beautiful wood plank ceramic tile, stainless appliances, quartz countertops, designer lighting, herringbone tile backsplash, oven/microwave wall combo, 42'' cherry cabinets, LED under cabinet lighting, recessed lighting throughout, ceiling fans throughout, vinyl plank in bedrooms, barn door, & soft water loop. Front entrance includes a paved courtyard with a rod iron gate and driveway is upgraded with pavers. Backyard features a covered patio, automatic sprinkler system, private pool with water feature. This home is also BnB ready with a separate entrance or can be used as a single family home.

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9410 W Meadowbrook Avenue Phoenix, AZ 85037

$589,999

4 Beds

4 Baths

2,585 SqFt

Status Active

MLS # 6729781

Property Type Single Family Residence

Price Type --

**Don't miss out on this beautiful single-level home with a certified Energy Star rating of 5!** This newer property boasts delightful curb appeal with an easy-care landscape and a tandem 3-car garage, situated in a gated community. **Step inside to find:** - An inviting hallway leading to a perfectly flowing great room with high ceilings, recessed lighting, and sliding glass doors that open to the backyard. - Gorgeous wood-look porcelain flooring and a neutral palette throughout, creating a warm and modern atmosphere. **Chef's Kitchen:** - Handsome wood cabinets with crown molding - Stainless steel appliances - Pantry and Quartz counters - Stylish tile backsplash - Large island with a breakfast bar, perfect for casual dining and entertaining **Main Retreat:** - Sun-filled room with an immaculate ensuite featuring two vanities, his and hers walk-in closets, a private toilet room, and engineered flooring. **Additional Features:** - Second ensuite with a walk-in closet and private living area, ideal for guest privacy. - Each bedroom has its own dedicated bathroom, ensuring comfort and convenience for all. **Outdoor Living:** - Relax in the vast backyard with a covered patio, pavers, and low-maintenance turf, perfect for outdoor gatherings and relaxation. **Prime Location:** - Minutes away from Westgate, Glendale Stadium, and the soon-to-be-built water parks and hotels, making it an ideal property for Airbnb. **This home is the perfect blend of luxury and convenience. Own the home meant for you!** Come view today!

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17668 W Blue Sky Drive Surprise, AZ 85387

$589,995

4 Beds

3.5 Baths

2,840 SqFt

Status Active

MLS # 6742948

Property Type Single Family Residence

Price Type --

Explore this impressive Darius home, ready for quick move-in. Included features: an inviting covered entry; a spacious great room; a quiet study; an open dining area; a gourmet kitchen offering a double oven, quartz countertops, 42'' cabinets, a center island and a pantry; a lavish primary suite showcasing a generous walk-in closet and a private bath with double sinks and cultured marble countertops; a convenient laundry; a large living room; a covered patio and a 3-car garage. This home also offers additional windows, ceiling fan prewiring and stone tile flooring in select rooms as well as airy 10' ceilings throughout.

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17617 W Blue Sky Drive Surprise, AZ 85387

$589,995

4 Beds

3.5 Baths

2,840 SqFt

Status Active

MLS # 6772341

Property Type Single Family Residence

Price Type --

This spacious 2,840 sq. ft. single-level ''Darius'' floorplan offers a perfect blend of luxury and comfort. With 10-ft ceilings, a 3-car garage, and a separate guest suite, there's room for everyone to feel at home. The gourmet kitchen features gas appliances, upgraded cabinets, quartz countertops, and a walk-in pantry—a chef's dream! The primary bath boasts a large drop-in tub, perfect for relaxing. Set for November completion, this home's neutral palette provides the perfect backdrop for your personal style.

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24030 N 171st Drive Surprise, AZ 85387

$589,995

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6685257

Property Type Single Family Residence

Price Type --

Are you ready for your new home at Asante? Come tour this beautiful Pinecrest plan. Boasting an open layout ready-made for entertaining. This plan centers around an airy great room, a dining nook and an impressive gourmet kitchen with a convenient island. The elegant owner's suite is adjacent, showcasing dual walk-in closets and a private bath featuring walk in shower and drop in tub . Two additional bedrooms, a study , great room featuring amazing corner multi slide doors off great room and covered patio . Bring your backyard oasis vision that will make this home the one always dreaming of. Includes a 2-car garage and separate side turn garage.

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1735 W Wildwood Drive Phoenix, AZ 85045

$589,995

3 Beds

2.5 Baths

2,178 SqFt

Status Active

MLS # 6749237

Property Type Single Family Residence

Price Type --

Immerse yourself in luxury living in Ahwatukee with this exquisite 3-bedroom, 2.5-bathroom home boasting a dazzling pool. The open floor plan exudes light, brightness, and airiness. Upstairs, you'll find an additional loft perfect for casual lounging. The spacious primary bedroom features a walk-in closet that will fulfill any fashionista's dreams. Step outside to the backyard oasis with a pool ideal for entertaining. The beautiful kitchen highlights a large island and breakfast bar for casual dining. Furniture Available. Don't let this rare gem slip away - conveniently located near the 202 freeway for easy commuting to work or exploring the surrounding area. Furniture can be included in sale.

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11946 W Parkway Lane Avondale, AZ 85323

$589,995

3 Beds

3 Baths

2,480 SqFt

Status Active

MLS # 6761545

Property Type Single Family Residence

Price Type --

The heart of this ranch-style home is an open floor plan with a family room, a breakfast nook and a large gourmet kitchen. The adjacent primary suite offers a walk-in closet and an attached bath. You'll also find two additional bedrooms and a bath, as well as a quiet study and a guest suite complete with a living area, bedroom, and private bath. Includes covered patio and a 2-car garage!

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29407 N 31st Lane Phoenix, AZ 85083

$589,990

4 Beds

3 Baths

1,946 SqFt

Status Active

MLS # 6772477

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender! A generous open living space serves as the heart of this single-level home, offering seamless transition between the Great Room, kitchen and dining room, while sliding glass doors lead to a covered patio for indoor-outdoor living. You will find plenty of room for your family with three secondary bedrooms and a stunning owner's suite complete with a spa-like bathroom. 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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32017 N 117th Avenue Peoria, AZ 85383

$589,990

3 Beds

2 Baths

1,680 SqFt

Status Active

MLS # 6755518

Property Type Single Family Residence

Price Type --

New home in Mystic - It's the charming Bluebell. Kitchen features include Maple Slate-gray cabinets with 42'' kitchen uppers, soft close doors and drawers and laundry cabinets. AZT Hana Sky quartz countertops in kitchen and baths. Stainless steel appliances include a 36'' cooktop, wall oven, microwave and glass canopy hood. Walk-in shower at owner's bath. Multi slide door that leads out the covered patio. Flooring includes San Matte 12x24 Sand Matte laminate wood in all areas except beds/closets and so much more. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 303. PICTURES OF THIS HOME ARE FROM THE BLUEBELL MODEL.

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31985 N 117th Avenue Peoria, AZ 85383

$589,990

3 Beds

2 Baths

1,680 SqFt

Status Active

MLS # 6755529

Property Type Single Family Residence

Price Type --

It's the spacious Bluebell in the stunning community of Mystic. Walk-in shower at owner's bath with tile surrounds/floor. Multi slide door leads out to the covered patio. Pavers at drive, walk and entry. Stainless steel appliances include a 30'' cooktop, wall oven, microwave & canopy hood. Maple Linen-off white cabinets with soft close drawer and doors, pull out trash drawer and additional cabinets in laundry room and at owner's entry. Driftwood wood laminate floors in all areas except beds/closets. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 303. THE PICTURES ARE FROM THE BLUEBELL MODEL HOME.

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9550 N 178th Drive Waddell, AZ 85355

$589,990

4 Beds

3.5 Baths

3,221 SqFt

Status Active

MLS # 6780671

Property Type Single Family Residence

Price Type --

Premium Lot and DR Horton's sought after Phoenician plan! The Gorgeous home will be completed and ready to move in by end of this year! This plan has soaring ceilings with the primary bedroom downstairs and split. Open kitchen and huge slider are just a few of the great features. As you move upstairs you will enter the huge game room that splits 3 bedrooms and bonus media room! Bed 3 has its own bathroom perfect for older teen or guests! This home will have white quartz counter tops, shaker cabinets, wood like tile and much more! Conveniently located off the 303! Will not last long!

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20199 W Mulberry Drive Buckeye, AZ 85396

$589,990

3 Beds

2.5 Baths

2,397 SqFt

Status Active

MLS # 6593391

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 our Carmona sitting on an OVERSIZED LOT WITH RV PARKING AVAILALE! This home has 3 bedrooms, study, 2.5 baths. Large walk-in shower at owner's bath with 12x12 tile surrounds. Multi slide door that leads out to the extended covered patio. Stainless steel double oven appliance package with a 36'' cooktop and canopy hood. Downing ''Espresso'' cabinets. Silver Falls granite countertops in kitchen and at the enhanced kitchen island. Upgrade flooring includes 18x18 EMS Anthem white tile with a 5'' base board/door casings except bedrooms & owner's closet. Soft water loop, dual sinks at bath 2, stub for future BBQ. 9' tall garage door and garage service door. Please verify all information with onsite agent . Thank you!

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