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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3229 E Campbell Avenue
Phoenix, AZ 85018
$1,550,000
4
Beds
3.5
Baths
3,110
SqFt
Status
Active
MLS #
6768123
Property Type
Single Family Residence
Price Type
--
Don't miss out on this like-new custom-built home in one of Phoenix's most sought-after neighborhoods. Featuring four spacious bedrooms and three-and-a-half bathrooms, this residence boasts exceptional finishes, including sleek white Cordova cabinets, elegant granite countertops, modern porcelain wood plank flooring, automated patio shades, and high-end stainless-steel appliances. Experience a level of luxury and style at an incredible value for this location. The gorgeous chef's kitchen, complete with a six-burner gas range and a seamless granite island that opens up to the living area, allowing the homes cook to stay connected with family and guests. The thoughtfully designed split floor plan offers a primary bedroom on the ground level, while three additional bedrooms are situated... upstairs alongside a versatile loft. The inviting south-facing backyard offers a spacious covered patio, private pool, and generous grassy area perfect for year-round enjoyment. This home is a hidden gem that won't last long!
2213 W Twain Drive
Anthem, AZ 85086
$1,549,999
5
Beds
4.5
Baths
4,911
SqFt
Status
Active
MLS #
6772241
Property Type
Single Family Residence
Price Type
--
Welcome to Twain Dr! Talk about having it all! Take a step into this expansive home that just keeps going! This entertainers paradise features 5 bedrooms, 4.5 bathrooms, and a beautifully updated open living concept that cannot be missed. Featuring two flex rooms right when you walk in the front door, an oversized dining area, wet bar, and open concept kitchen/living area, this home has space for anything you desire! If that wasn't enough, step outside into two different locations. First, enjoy your morning coffee in this beautiful, private courtyard with a fire place, or head on out back and enjoy privacy with no neighbors behind you! This desert oasis of a backyard, with an incredible water feature, built in barbecue, pool, and spa is an entertainers dream! If that wasn't enough, head into the master bedroom, which includes a beautiful outdoor patio space to enjoy the sunset, a large master bathroom, and huge walk in closet, and fully remodeled bathrooms throughout for guest bedrooms! Enjoy family night with popcorn and snacks in your exclusive media room! Last but not least! FULLY OWNED SOLAR to SIGNIFICANTLY reduce bills each month, along with Ring security cameras throughout the house! To top it all off, do not miss all the AMENITIES that Anthem has to offer, including a community pool, biking/walking paths, clubhouse/rec center, workout facility, and tennis courts! Schedule your showing today! Twain Dr is not to be missed!
9721 E Flathorn Drive
Scottsdale, AZ 85255
$1,549,500
4
Beds
2.5
Baths
2,468
SqFt
Status
Active Under Contract
MLS #
6769938
Property Type
Single Family Residence
Price Type
--
Location, Location, Location + VIEWS. Highly desirable in the heart of DC Ranch's gated Desert Camp neighborhood. Stunning, High-end TOTAL REMODEL Head to Toe. This single-story Oasis sits in a private cul-da-sac backing to NAOS with views. This 4BR / 2.5 bath is walking distance to shops & restaurants at DC RANCH Market Street & steps away from the renovated community center featuring pickle ball, tennis, pools & more! Brand New HVAC system, Wood floors, Thermador appliance package & Quartz Island & countertops to name a few (see docs tab for more info). Back yard offers beautiful brand-new turf, pavers, firepit, outdoor kitchen, a sparkling pool and covered patio perfect for entertaining and enjoying your private morning sunrises and evening sunsets with mountain views. MUST SEE!
745 Stringer Road
Munds Park, AZ 86017
$1,549,000
4
Beds
3.5
Baths
3,440
SqFt
Status
Active
MLS #
6766318
Property Type
Single Family Residence
Price Type
--
Luxury Custom Home Perfect for Families and Entertaining. This home includes expansive Patios, Large Great Room with Stone Fireplace, Soaring ceilings and lots of windows. The Luxury Kitchen is loaded and includes built-in Monogram Appliances Including Refrigerator, Wall Ovens, Gas Cooktop, Large Island, Slab Granite and knotty Alder Cabinetry. The Master Suite includes a Fireplace, Balcony, Large bath with Dual Vanities Tiled Shower and Jetted Soaking Tub and Walk in closet. There is a Second Master Suite on the main floor that offers Dual Vanities and a Large Tiled Shower. There are two additional Bedrooms that include a Jack and Jill bathroom, Huge Loft space with Fireplace and Balcony, Perfect for lounging and entertaining. For additional amenities please refer to the document tab.
14934 E Roy Rogers Road
Scottsdale, AZ 85262
$1,549,000
4
Beds
3.5
Baths
3,221
SqFt
Status
Active Under Contract
MLS #
6763521
Property Type
Single Family Residence
Price Type
--
Experience the perfect blend of privacy and luxury in this remarkable sanctuary with Breathtaking Mountain Views! This stunning property offers a private casita, a climate-controlled RV garage, a rooftop sitting area to enjoy the breathtaking Four Peaks mountain views, all conveniently located adjacent to paved roads. It's the perfect blend of luxury and accessibility! Outdoor Paradise: Step outside to a lush lawn featuring a negative edge pool, beautifully accented by a natural rock waterfall. Entertain effortlessly on one of the three patio areas while you enjoy the built-in BBQ island, taking in the breathtaking scenery of the Four Peaks. The patio offers year-round comfort, complete with a cozy fireplace for winter evenings and cooling misters for summer days. See supplement section. Inviting Interior: Inside, experience luxury and comfort in the home theater ideal for movie nights. The home boasts custom finishes throughout, including rustic metal ceiling inlays, chiseled granite countertops, travertine floors, knotty alder doors and cabinets add a touch of elegance. An extended laundry room also serves as a butler's pantry, perfect for entertaining. Spacious Master Suite: The large master suite offers direct access to both the front and backyard, creating a seamless indoor-outdoor experience. The generous master bath features an oversized jacuzzi tub, a cozy fireplace, and a surround rainfall shower for ultimate relaxation. This unique sanctuary is a dream come true for anyone seeking privacy, luxury, and stunning views. Don't miss your chance to make it yours!
3652 W Altair Way
Flagstaff, AZ 86001
$1,549,000
5
Beds
4
Baths
3,285
SqFt
Status
Active Under Contract
MLS #
6769041
Property Type
Single Family Residence
Price Type
--
A health & fitness enthusiast's dream! Discover unparalleled luxury & tranquility with this stunning 5-bedroom, 4-bathroom home nestled in the highly desirable Timber Sky community. Built in 2022, this exceptional property boasts an expansive 3,285 sq ft open floor plan seamlessly connecting the living, dining, & kitchen areas, creating a haven for gatherings & relaxation. A dedicated casita with a private entrance offers additional privacy and flexibility for guests or multi-generational living. Beyond the inviting interior lies a true highlight: the ultimate backyard oasis. Step into your own private sanctuary, where a sprawling backyard awaits. Lounge by the sparkling heated infinity pool, unwind in the soothing barrel sauna, or gather around the recessed fire pit on cool evenings. The expansive patio provides ample space for outdoor living, with room for couches, dining tables, a hammock, and more. Cultivate your green thumb in the raised garden beds, and enjoy the convenience of a motorized pergola for shade on sunny days. Enjoy year-round comfort and energy savings with this Zero Energy Ready Home, featuring a tankless water heater, spray foam insulation, and Low-E dual pane windows. Embrace the tranquility of Timber Sky while enjoying convenient access to Flagstaff's vibrant downtown, renowned hiking trails, and world-class skiing.
20668 E Natalie Way
Queen Creek, AZ 85142
$1,549,000
4
Beds
4
Baths
3,947
SqFt
Status
Active
MLS #
6678539
Property Type
Single Family Residence
Price Type
--
Welcome to 20668 E Natalie Way, nestled in the highly sought-after Pecan Lake community of Queen Creek, AZ. This luxurious abode boasts 3,947 square feet of meticulously designed living space, featuring 4 bedrooms and 4 bathrooms, ensuring ample space and comfort for you and your loved ones. Step inside to discover a culinary enthusiast's dream kitchen, complete with a vast kitchen island adorned with elegant quartz countertops. Equipped with top-of-the-line Wolf 6 burner double oven, a built-in refrigerator and freezer, and custom cabinetry, this kitchen is both functional and stylish. The focal point of the kitchen is the gas fireplace, adding warmth and charm to the heart of the home. The allure continues with engineered hardwood flooring gracing the entire residence, adding a touch of sophistication to each room. The expansive master bedroom suite offers a peaceful retreat, featuring a spacious walk-in closet and balcony access overlooking the lush backyard oasis. Indulge in the luxurious master bathroom, showcasing a large walk-in shower with dual shower heads, a deep soaker tub, and dual vanities. Outside, you will find a brand new pool and hottub with low maintinence turf hardscape! Immerse yourself in the serenity of the Pecan Lake community, surrounded by natural beauty and an array of amenities. Enjoy leisurely strolls through Queen Creek Botanical Gardens, entertainment at Pecan Lake Entertainment Center, thrilling events at Horseshoe Park & Equestrian Centre, or a fun-filled evening at Fat Cats. Experience the epitome of luxury living in Queen Creek, with this stunning residence offering unparalleled comfort, style, and convenience. Don't miss your chance to make 20668 E Natalie Way your new home sweet home.
9574 E Preserve Way
Scottsdale, AZ 85262
$1,549,000
4
Beds
4
Baths
3,390
SqFt
Status
Active Under Contract
MLS #
6757622
Property Type
Single Family Residence
Price Type
--
This gorgeous home is located in North Scottsdale in the gated section of the breathtaking Legend Trail Community, just minutes from the iconic town of Cave Creek. Sought after north Scottsdale is known for stunning desert landscapes, hiking & biking trails & golf courses all around including in the community. Over 200K renovation single-level residence perfectly combines luxury & comfort. Once you step inside the gated courtyard & into the home you feel the elegant open living w/high ceilings & lots of windows to the outside. The main home is 3 bdrs/3 baths w/3110 sq.ft + 280 additional sq.ft. in the attached casita w/separate entry. The private backyard oasis features heated pool & spa, putting green, fire pit & multiple patio areas. Elegant & upscale! Truly immaculate! All closets are walk in's.
2230 E Belmont Avenue
Phoenix, AZ 85020
$1,549,000
3
Beds
2
Baths
2,313
SqFt
Status
Active Under Contract
MLS #
6719843
Property Type
Single Family Residence
Price Type
--
Nestled perfectly against the Phoenix Mountain Preserve in the highly desirable Biltmore Highlands neighborhood, this home truly has it all. This original Hallcraft home has been completely reimagined by a previous owner/architect, transforming it into a contemporary, artistic, and architecturally unique haven. Enjoy complete privacy on the front patio perched perfectly above the city for the most amazing sunset viewings you've ever seen. The backyard is equally as secluded, with untouched preserve land directly outside the view fence. With no trails covering any inch of the mountain surrounding the back of the home, you have a private oasis with a beautiful pool and sitting area completely surrounded by mountain views. The home boasts a sleek modern kitchen featuring custom Italian cabinets, a Sub-Zero refrigerator, and Caesarstone quartz countertops with a waterfall island. Each bedroom is complete with floor-to-ceiling windows, perfectly capturing the city and mountain views. A private gate provides direct access to the extensive hiking trail system within the Phoenix Mountain Preserve, just a short walk from your backyard. Additional features include custom woodwork and cabinetry throughout, a garage with custom storage, and an electric car charger. Conveniently located near the 51 freeway, this home offers easy access to the entire city and is just minutes from downtown Phoenix and Sky Harbor Airport. Experience luxury, style, and unparalleled views in this extraordinary home - come see it for yourself!
34596 N 99th Way
Scottsdale, AZ 85262
$1,545,000
4
Beds
3.5
Baths
3,117
SqFt
Status
Active
MLS #
6763085
Property Type
Single Family Residence
Price Type
--
Welcome to this beautiful residence nestled within the prestigious gated community of Legend Trail. This captivating home offers 4 bedrooms and 3.5 bathrooms. As you approach, an inviting iron gate opens to a serene private front courtyard with lush landscape and water feature. As you enter, you'll be greeted by soaring 9+ft ceilings and an abundance of natural light streaming through the windows, offering picturesque views of the backyard oasis. The expansive living features a charming brick fireplace, providing a warm and inviting atmosphere perfect for relaxation or gatherings. Large windows offer views of the sparkling pool, enticing you to unwind and enjoy indoor-outdoor living at its finest. Both the front and back of the home include desert landscaping ideal for low maintenance and lock and leave lifestyle. The kitchen, ideal for culinary enthusiasts, is equipped with a breakfast bar accented by a brick knee wall and pendant lighting, granite countertops, ample white cabinetry, a pantry, and a striking blue kitchen island with a gas cooktop. Stainless steel appliances, including a double wall oven, elevate the functionality of this space, which also includes an eat-in area and a wet bar, making it perfect for entertaining. For more formal gatherings, the home offers a separate dining area with French doors leading to the front courtyard, enhancing the indoor-outdoor flow. Retreat to the luxurious primary bedroom offering expansive windows framing views of the backyard, a dual sink vanity, a separate tub and shower, and a generously sized closet. Additional highlights include a laundry room with more cabinet space for storage and a sink, as well as a split 3-car garage for added convenience. The private backyard area includes a built-in BBQ, fireplace and seating, perfect for outdoor entertaining. Enjoy the covered patio, offering a cool retreat on hot summer days, complete with a ceiling fan and electric awnings. Experience the sought-after amenities of Legend Trail, including golf, a clubhouse, fitness room, pool and spa, pickleball and tennis courts making this home an ideal choice for those seeking the ultimate desert lifestyle!
8148 W Avenida Del Sol --
Peoria, AZ 85383
$1,545,000
3
Beds
2.5
Baths
5,554
SqFt
Status
Active
MLS #
6713008
Property Type
Single Family Residence
Price Type
--
Custom Basement home on 1.6-acres. Crafted with Structural Insulated Panel walls and featuring a full basement with soaring 10-foot ceilings, this residence also offers a 5.2KW OWNED solar system. The heart of the home, the kitchen, has been completely gutted and redesigned to perfection, showcasing top-of-the-line appliances, and a spacious walk-in pantry. Dining room area has been expanded adding additional square footage onto the footprint of the home. Primary bath has also been gutted and redesigned to perfection with a very large walk in shower with tub wet room, dual sinks, and a private toilet room. Primary bedroom has a door right out to your backyard. Entertain in style with an expansive covered patio overlooking a luxurious new pool and jacuzzi, creating a private retreat for relaxation and enjoyment. For the automotive enthusiast, a remarkable 4,000-square-foot detached garage awaits, providing ample space for up to 20 cars with tabled and lighted workshop area. Additional features include a three-car attached garage with epoxy floors, brand-new flooring throughout most of the house, a tankless hot water heater, and an RV gate for added convenience, and also a private well. Home has a coveted North-South exposure. Located mere moments from the shores of Lake Pleasant and surrounded by scenic hiking trails, this residence offers the perfect blend of serenity and convenience. Embrace the vibrant lifestyle of the area, with abundant shopping options and the promise of a new entertainment district just moments away.
8 Biltmore Estates Drive Unit 313
Phoenix, AZ 85016
$1,545,000
3
Beds
2.5
Baths
2,329
SqFt
Status
Active
MLS #
6738169
Property Type
Townhouse
Price Type
--
Experience true luxury living at the Biltmore Fairway Lodge in this beautifully renovated condo. 3 bed/2.5 bath that has undergone a full interior remodel in 2022 . Every fixture meticulously chosen & over $600K in upgrades! Soaring high ceilings creates a stunning home with open living space complete with a premium chef's kitchen-luxury appliances include Wolf dual fuel range ,Subzero freezer/fridge drawers , Thermador refrigerator & wine cooler and Cove dishwasher. RO System in Kitchen plus new mechanicals all in 2021! Spacious master w/ private balcony and incredible mountain views. Two parking spots included + Huge storage unit ! Modern onsite amenities include heated pool & spa, fitness center & round-the-clock security with onsite management. retreat. Additionally, you'll benefit from two dedicated parking spots and a generous storage unit. Take advantage of outstanding onsite amenities, including a heated pool and spa, a fitness center, and round-the-clock security with dedicated management. This is luxury living perfectedall within minutes of Biltmore shopping, dining, & resorts!