Last week’s economic news included readings on job openings, consumer sentiment and the Federal Reserve’s monthly survey of senior loan officers. Weekly reports on mortgage rates and new jobless claims were also released. Freddie Mac noted that last week’s primary mortgage market survey did not include post-election readings as the survey information was gathered prior to election results.
Loan Officers Survey: High Demand for Home Loans, Commercial Lenders Raise Standards
As demand for mortgage financing and homes increase, the Federal Reserve reported last week that banks are tightening the screws on commercial lending requirements. This could present challenges to home builders; they’ve been consistently pressured to build more homes at a faster pace. Less availability of commercial financing may impact home builders and their suppliers. The survey indicated that demand for home and consumer loans also increased.
Mortgage Rates Rise, New Jobless Claims Fall
Mortgage rates rose across the board on average. Freddie Mac reported the rate for a 30-year fixed rate mortgage rose three basis points to 3.57 percent. The average rate for a 15-year fixed rate mortgage increased four basis points to 2.88 percent, which equaled the average rate for a 5/1 adjustable rate mortgage. Average discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
New jobless claims fell to 254,000, which was lower than the expected reading of 260,000 new claims. Last week’s reading was also lower than 265,000 new claims filed the prior week. Job openings held steady at 5.50 million in September.
According to the University of Michigan’s monthly consumer sentiment index, November’s reading rose 91.60 in November as compared to an expected index reading of 88.00 and October’s reading of 87.20. This reading falls in line with strengthening labor markets. Improving economic conditions can influence consumers who want to buy homes.
What‘s Ahead
Next week’s economic reports include releases from the National Association of Home Builders, Commerce Department readings on housing starts and building permits issued and weekly releases on new jobless claims and mortgage rates.
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7738 N 185th Avenue
Waddell, AZ 85355
$1,999,000
4
Beds
3.5
Baths
2,300
SqFt
Status
Active
MLS #
6735714
Property Type
Single Family Residence
Price Type
--
MUST SEE sprawling ranch style estate/compound on irrigated 2 acre lot. Newly constructed 2300 sf, 4 BR 3.5 BA main house and remodeled 1300 sf, 3BR, 1BA guest house. Perfect for visiting friends/family or private separate inlaw or older child suite. Newly build main house features upgraded Frigidaire appliances and granite counter tops throughout. Stained concrete floors. Custom cabinets and extra large walk-in pantry. Mud room/dog shower in the laundry room. 6 car garage 40x28 w/ additional attached RV garage 41x50. Tons of covered space for extra cars, RVs, boats and more. Huge pool with built-in outdoor kitchen and fireplace for entertaining friends and family. Backyard boasts a motel, tack shed and covered shaded areas for horses. Gated entry. RV hookup and dump capabilities.
6875 E Lone Mountain Road
Scottsdale, AZ 85266
$1,999,000
4
Beds
4
Baths
4,260
SqFt
Status
Active
MLS #
6706812
Property Type
Single Family Residence
Price Type
--
Welcome to over 2 acres of North Scottsdale privacy, beauty, and serenity! This fully custom home has it all. Enjoy your resort like backyard, balconies and patio spaces, Sub-Zero chef's kitchen, mountain views, and thoughtful upgrades throughout. All the work has been done, so you can truly make this space your home. Need room for cars or toys? A 4 car garage with extra storage room awaits. New roof, new windows and doors, all new pool equipment with pool/spa heater, and new garage doors and openers are just naming a few of the upgrades. The timeless modern desert design flows seamlessly with this truly one-of-a-kind property. Come experience this lot privacy and beauty aided by a built-up 20 ft berm along Lone Mountain Road.
30600 N Pima Road Unit 58
Scottsdale, AZ 85266
$1,998,000
4
Beds
3.5
Baths
4,595
SqFt
Status
Active
MLS #
6754414
Property Type
Single Family Residence
Price Type
--
SELLER FINANCING AVAILABLE conditional upon lender approval! Immerse yourself in desert tranquility at this Luxurious desert estate on over an acre lot. Bright & open SPLIT floorplan w/2nd master creates seamless flow between the living, dining & kitchen spaces, creating the perfect ambiance to relax or entertain guests. Gorgeous Chef's kitchen features pro-grade stainless appliances, quartz counters, ample cabinetry, walk in pantry, built in dining & gorgeous large island w/seating. Elegant primary suite features spa-like bath w/designer finishes & private patio w/fireplace creating a tranquil escape. Enjoy the beautiful outdoors in one of the many exterior seating areas, or by the sparkling pool w/ fireplace for those chilly desert nights.
10120 E Topaz Drive
Scottsdale, AZ 85258
$1,995,888
3
Beds
2
Baths
2,516
SqFt
Status
Active
MLS #
6768103
Property Type
Townhouse
Price Type
--
ENJOY THE PRIVILEGE OF LIVING IN SCOTTSDALES PREMIER WATERFRONT COMMUNITY WITH SPECTACULAR LAKE AND MOUNTAIN VIEWS.RELAX IN YOUR PRIVATE BACKYARD WITH COCKTAILS ON AN EVENING CRUISE ON LAKE SERENA WITH ACCESS FROM YOUR PRIVATE BOAT DOCK. GREAT ROOM HAS SOARING WOOD BEAM CEILINGS HIGHLIGHTED BY A WALL OF WINDOWS OVERLOOKING THE WATER.PLANTATION SHUTTERS,WOOD FLOORING, VAULTED CEILINGS, CUSTOM CABINETRY ARE JUST A FEW OF THE MANY AMMENITIES. SHOWN BY APPOINTMENT.
8400 E Columbus Avenue
Scottsdale, AZ 85251
$1,995,800
4
Beds
3.5
Baths
3,254
SqFt
Status
Active
MLS #
6751625
Property Type
Single Family Residence
Price Type
--
This like new single level home just minutes to Downtown Scottsdale & Scottsdale Fashion Square shopping and restaurants! This boutique community features just 13 homesites and selling fast. This Spacious single level home has 4 bed + den, 3.5 baths, large bonus room or formal living/dining + Den/Office. The spectacular kitchen opens to the Great Room. Primary bedroom includes large soaking tub, separate large walk- in shower and 2 closets, Split ensuite Guest bed rooms .
6120 N 31st Court
Phoenix, AZ 85016
$1,995,000
4
Beds
3.5
Baths
2,735
SqFt
Status
Active
MLS #
6760379
Property Type
Single Family Residence
Price Type
--
Beautiful, remodeled house with NO INSIDE STEPS, in guard gated Biltmore Greens that Boasts: decorative front gate, custom front doors, gorgeous eucalyptus wood floors throughout, tile flooring in the bathrooms & closets, quartz countertops on the kitchen perimeter cabinets while the island & bathroom countertops are a beautiful matching granite, large kitchen that has Thermador & Sub Zero appliances, built in ice maker, enlarged primary bathroom and closet, All new, cabinetry throughout, crown molding, custom closets, lighting & plumbing fixtures. Outside fire pit, pool, and a great covered back patio with automatic sunscreens, built-in BBQ and a view that looks out to the desert through the wrought Iron fence. The garage has tile flooring and extra storage behind a locking door.
6166 N Scottsdale Road
Paradise Valley, AZ 85253
$1,995,000
2
Beds
2.5
Baths
2,353
SqFt
Status
Active
MLS #
6745430
Property Type
Apartment
Price Type
--
Fully furnished highly upgraded corner unit at the Enclave at Borgata with spectacular mountain views of the McDowell Mountains & Pinnacle Peak. Beautifully finished with hardwood flooring, custom cabinetry, rich marble countertops, Wolf and Sub-Zero appliances, designer wall coverings, great light fixtures and Crestron home automation. The primary bedroom is also large with a sitting area, spacious bathroom and walk-in closet. The den features beautiful custom millwork and built-in desks and bookcases. The Enclave is a gated luxury community with fantastic amenities including heated community pool & spa, well equipped fitness center, 24 HR security, owners club room and maintained dog park. Walking distance to AJs, Trader Joes and many top tier retail & restaurants.
3812 E Camelback Road
Phoenix, AZ 85018
$1,995,000
4
Beds
4
Baths
3,671
SqFt
Status
Active
MLS #
6746292
Property Type
Single Family Residence
Price Type
--
Located at the end of a cul-de-sac at Biltmore Sanctuary, this is a must see home! Beautiful and immaculate this 3671 sf, 4 bedroom, 4 bath home has clean lines and high ceilings which create a light and open atmosphere drawing you into the home. The kitchen is well appointed with walk in pantry and gas stove. The large primary bedroom is accentuated with spa-like bath. Two of the additional berdrooms are ensuite as well. One of 3 garages is pre-wired and plumbed allowing for easy conversion to a Casita. Convenient to Scottsdale, Paradise Valley and downtown, you will be walking/biking distance to some of the finest dining in Phoenix like The Global Ambassador, Postinos, Tarbell and The Henry.
3410 N 45th Place
Phoenix, AZ 85018
$1,995,000
6
Beds
4.5
Baths
2,723
SqFt
Status
Active
MLS #
6775354
Property Type
Single Family Residence
Price Type
--
This beautifully remodeled home in the highly desirable Arcadia Osborn area offers a perfect blend of modern luxury and timeless charm. The property boasts a newer roof, AC, and updated electrical, ensuring peace of mind for years to come. The convenient split floorplan features 2 Jack & Jill bathrooms, a lovely powder room, and a separate pool house (or guest house), perfect for entertaining or relaxing by the pool. The home is packed with high-end & eco-friendly upgrades including Control 4 home automation, surround sound, pool automation, security cameras, and a tankless water heater. You'll love the vaulted ceilings, spray foam insulation, and wide-plank wood floors throughout. The chef's kitchen is outfitted with a 66'' commercial fridge and an outdoor kitchenfor seamless indoor- outdoor living. Step outside to enjoy mature landscaping, a sparkling pool with deck jets and a Baja shelf, automated misting, and a back porch with automated shades. The property also comes equipped with electric car chargers and garage storage. TVs & appliances convey with the sale, making this home truly move-in ready!
6908 E Mariposa Drive
Scottsdale, AZ 85251
$1,995,000
4
Beds
4
Baths
2,756
SqFt
Status
Active
MLS #
6777726
Property Type
Single Family Residence
Price Type
--
Nestled in the heart of Old Town Scottsdale, 6908 E Mariposa Dr offers a captivating blend of classic allure and modern luxury. This ''Old Hollywood'' inspired retreat boasts spacious, beautifully designed interiors that echo a timeless aesthetic, perfect for those seeking a stylish escape. Home features, 4 bedrooms, 4 bathrooms, all new interior and exterior finishes, and heated pool! Each room is meticulously curated, balancing luxury and comfort, creating an inviting atmosphere for relaxation and entertainment alike. Located just moments away from Scottsdale's world-renowned shopping, dining, and cultural hotspots, this property offers unparalleled access to Scottsdale's best! Don't miss your chance to own a piece of Scottsdale's iconic charm!
308 Calle Linda --
Sedona, AZ 86336
$1,995,000
3
Beds
4
Baths
3,473
SqFt
Status
Active
MLS #
6779632
Property Type
Single Family Residence
Price Type
--
Nestled in the prestigious gated community of Casa Contenta in the heart of Sedona, this elegant Southwest-style home offers breathtaking red rock views and seamless indoor-outdoor living. Featuring 3 bedrooms and 4 baths, the main level boasts an open-concept great room, a combined living and dining area, and a beautifully designed kitchen with granite countertops, stainless steel appliances, and a spacious center island. The primary suite and a guest suite are also located on this level for convenient, single-level living. Downstairs, you'll find a generous family room, a kitchenette, and an additional guest suite, all with scenic views and access to a covered patio. The home is adorned with Pella windows, rich hardwood floors, tile, and cozy carpet in the bedrooms. Located near Sedo
6629 E Monterosa Street
Scottsdale, AZ 85251
$1,995,000
4
Beds
3
Baths
2,683
SqFt
Status
Active Under Contract
MLS #
6727398
Property Type
Single Family Residence
Price Type
--
Currently rented, property access may be limited. Nestled within the coveted Arcadia neighborhood, this enchanting ranch-style residence has been thoughtfully remodeled to harmonize timeless tradition with modern comforts. Boasting four generously appointed bedrooms, including a master suite that redefines luxury living, this home is a sanctuary of both style and function. Upon entering, you'll be greeted by a sense of warmth and elegance, with an inviting layout that seamlessly blends the old-world charm of traditional design with the fresh allure of contemporary updates. The heart of the home unveils an expansive living space, perfect for both intimate gatherings and grand occasions. Buyer to verify all facts and figures.