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.
Click Here to See What Your Home is Worth
9781 E Gamble Lane
Scottsdale, AZ 85262
$1,545,000
4
Beds
3
Baths
3,166
SqFt
Status
Active
MLS #
6754348
Property Type
Single Family Residence
Price Type
--
Fantastic opportunity to own a completely remodeled, single level home in the Monument at Troon North. Fall in love with its gorgeous open floorplan featuring wood floors, linear fireplace in great room, chefs kitchen with Wolf Range, double ovens, under/over/inside cabinet lighting, huge breakfast island and quartzite counters. Your favorite room will be the dining room with its lovely view and wall to wall hutch that makes a statement. The inviting primary suite features cozy fireplace and a exit to back patio and view deck. Enter primary bath thru barn door into spa like bath with free standing tub, double sinks, huge shower, private water closet and large walk in closet with organizers. Huge second ensuite with lots of closet space and lovely bath with backlite mirrors, tiled mirror, tiled wall and a lot of style. Large 3rd and 4th bedroom offer walk in closets, shutters, nicely sized, 4th has private patio. Well laid out laundry room with sink and extra refrigerator space. This corner lot gem is a must see, desert landscape with a lot of lights and RV gate, this lot is large enough for putting green, pool and ramada! Garage is 3.5 at least and extended.
8300 E Dixileta Drive Unit 305
Scottsdale, AZ 85266
$1,545,000
5
Beds
3.5
Baths
3,701
SqFt
Status
Active Under Contract
MLS #
6693419
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning 5-bedroom, 3.5-bathroom residence in the exclusive community of Sincuidados, where modern living is elevated by panoramic views of Pinnacle Peak and the majestic McDowell Mountains. Whether you're seeking ample space for family or the flexibility of a home office, this versatile property delivers with both style and substance. This home is perfectly positioned to capture the beauty of Arizona's natural landscape, with uninterrupted mountain views providing a breathtaking backdrop. Floor-to-ceiling windows and thoughtfully placed skylights fill the space with an abundance of natural light, creating an open, airy ambiance that flows throughout the home. Offering 5 bedrooms, with the option to use one as an office, this home is designed to suit a variety of needs. While certain areas of the home provide the perfect opportunity for personalization and modern updates, the current layout presents a solid foundation for your creative vision. Move-in ready with fresh interior paint and new carpet in select rooms, this home has been enhanced with modern LED lighting and a state-of-the-art 5-stage reverse osmosis system for pristine water quality. Major system upgrades in the last five years include a brand-new foam roof, newer HVAC systems, new water heaters, and a reverse osmosis system ensuring peace of mind for years to come. This property combines the allure of a prestigious location with the opportunity for subtle customization, making it an ideal canvas for buyers seeking both luxury and potential. Whether you're inspired by the stunning mountain vistas or the endless possibilities for modern upgrades, this rare offering is an extraordinary opportunity to create the home of your dreams. Experience a life of beauty, space, and promise in Sincuidados.
4664 E Grove Circle
Mesa, AZ 85206
$1,544,500
6
Beds
4
Baths
4,909
SqFt
Status
Active Under Contract
MLS #
6769609
Property Type
Single Family Residence
Price Type
--
Step into this beautifully remodeled home located on a large cul-de- sac lot located inside of a small gated community. This home features a large 19k+ sq ft lot, 6 bedrooms and 4 full bathrooms and a BASEMENT! The bright open floor plan features soaring ceilings, open kitchen, huge kitchen island and resort-like backyard making it perfect for large gatherings. The kitchen features 2 dishwashers,48 inch built-in refrigerator and a large 6 burner gas range with 2 ovens. The elegant primary suite features a huge shower, soaker tub, and large walk-in closet. Primary bedroom, 2nd bedroom and office space are all located on the main level. Upstairs features 3 bedrooms and 2 full bathrooms, two of the bedrooms share a Jack and Jill bathroom. The upstairs also features a large patio... (cont.) overlooking the backyard with mountain views. The outdoor space is equally as impressive with a large covered patio area, pool with water slide, above ground hot tub, multiple citrus trees, and a garden area with shed. Covered patio area has a drain line for outdoor sink and gas line plumbed in the wall making it a perfect opportunity to build an outdoor kitchen area. Large 3-car garage features a work-out area/storage area that opens up to the pool area through sliding glass doors. Property features a large RV gate and 100ft of paved parking that includes power and sewage drop for the RV. This home needs to be seen in person to be fully appreciated.
4825 N 72nd Way
Scottsdale, AZ 85251
$1,539,000
3
Beds
3.5
Baths
2,235
SqFt
Status
Active
MLS #
6729878
Property Type
Townhouse
Price Type
--
Welcome home to your jewel box in the heart of Scottsdale's high-profile 85251 zip code! This modern masterpiece sits in Royale Gardens, a lush and tranquil tree-lined community reminiscent of Old Hollywood. Completely redeveloped from the foundation up and featuring both Scandinavian and contemporary design, this custom two-story residence features a rare 3 bedroom, 3.5 bathroom layout that is both spacious and perfect for entertaining. Stunning from the finest materials used, including imported hardwood floors, floating staircase, glass enclosed showers, recessed LED lighting, marble bathrooms, and a world-class gourmet kitchen with Sub-Zero integrated refrigerator and Corian countertops.
20705 E Marsh Station Road
Vail, AZ 85641
$1,535,000
3
Beds
2.5
Baths
4,039
SqFt
Status
Active
MLS #
6777269
Property Type
Single Family Residence
Price Type
--
Welcome to a one-of-a-kind gated estate on a private hill in Arizona's gorgeous landscape. Enjoy 5.6 acres plus an additional 51 acres of adjoining land, offering unparalleled seclusion and panoramic views. This 4,039-sq-ft luxury home features 3 spacious bedrooms, 2.5 baths, a chef's kitchen with custom knotty alder cabinetry, and an open-concept living area with stunning wood beam ceilings. Breathe in the desert vistas from expansive windows and outside patio off living area. Relax by two fireplaces-pick your view!. Additional amenities include a 3,200-sq-ft detached warehouse/workshop with a 20x80 carport, perfect for storage or creative projects. Don't miss this Arizona paradise
3018 N 50th Street
Phoenix, AZ 85018
$1,535,000
5
Beds
4.5
Baths
3,819
SqFt
Status
Active
MLS #
6739740
Property Type
Single Family Residence
Price Type
--
Experience the best of Arcadia living - walking distance to the greenbelt, OHSO, all of Arcadia's best amenities. This home features 5 bedrooms, 4.5 bathrooms, and over 3,800 square feet of luxurious living space. The gourmet kitchen boasts slab granite counters, an island, an eat-in area, and opens to a large family room. The primary suite includes a private balcony with Camelback Mountain views, dual walk-in closets, a jetted tub, and a walk-in shower. With two primary suites, one on each floor, the home offers flexibility and privacy. Enjoy high ceilings, formal living and dining areas, a loft, and covered patios in front and back. The property includes a three-car tandem garage and ample sized backyard. Situated on a cul-de-sac street and in the popular Arcadia Osborn neighborhood.
5455 E Lincoln Drive Unit 1016
Paradise Valley, AZ 85253
$1,529,000
2
Beds
2.5
Baths
1,702
SqFt
Status
Active
MLS #
6639094
Property Type
Apartment
Price Type
--
Indulge in loft living at Mountain Shadows Resort! exquisitely upgraded 2-bedroom loft home is adorned w/ designer touches & meticulous details. Nestled against the breathtaking backdrop of Camelback Mountain, Mountain Shadows Resort offers a distinctive lifestyle in a community of only 41 condo & loft homes, providing a serene Paradise Valley setting w/ full privileges at the resort iincluding a pool, spa, gym, restaurants & concierge services. There's also the unique opportunity to join the rental pool for stress-free income generation. Welcome to the epitome of resort living in Paradise Valley! Step into this two-story residence that emanates unparalleled style, offering turn key living at its finest. Furniture is avail for purchase. Property has ability to be in rental pool program.
6942 E Thirsty Cactus Lane
Scottsdale, AZ 85266
$1,525,000
3
Beds
2
Baths
2,472
SqFt
Status
Active
MLS #
6749247
Property Type
Single Family Residence
Price Type
--
Wonderful home in Terravita Country Club with views of the 14 fairway and Black Mountain with stunning AZ sunsets! This remodeled home offers a fabulous kitchen, granite and luxury stainless appliances all overlooking the great room. The view windows offer unparalleled views of the surrounding mountains, sunsets and world-famous Saguaros. This Caelum model plan is perfect for guests to relax, both inside and out! The backyard is a resort paradise with a heated pool, large built in BBQ/entertaining bar, large gas fire-place and lots of outdoor seating with and covered patio areas to enjoy the best of Arizona resort living! This is a must see!
7117 E Rancho Vista Drive Unit 4006
Scottsdale, AZ 85251
$1,525,000
3
Beds
2.5
Baths
1,734
SqFt
Status
Active
MLS #
6755060
Property Type
Apartment
Price Type
--
RARE CORNER UNIT COMPRISED OF 3 BEDROOMS + 2.5 BATHS, TWO SEPARATE ENTRANCES (ONE FOR RESIDENT, ONE FOR GUESTS) WITH TWO EXPANSIVE TERRACES, WITH CAMELBACK MOUNTAIN AND CITY VIEWS. PANORAMIC FLOOR-TO-CEILING GLASS SLIDERS. TWO SECURED UNDERGROUND PARKING SPACES NEAR ELEVATORS. AWARD-WINNING OPTIMA CAMEL VIEW IS RENOWNED FOR ITS PRIME LOCATION AND CUTTING-EDGE ARCHITECTURE OFFERING UNPARALLELED AMENITIES INCLUDING POOLS, SPAS, BBQ AREAS, AND A RECENTLY UPGRADED TWENTY-FOUR THOUSAND SQUARE FOOT FITNESS CENTER WITH LOCKER ROOMS, STEAM ROOMS, INDOOR LAP POOL, SPAS, AN ON-SITE CONCIERGE, PUTTING GREEN, HYBRID BASKETBALL/PICKLEBALL COURT, AND RESTAURANT. WALKING DISTANCE TO, COFFEE SHOPS, RESTAURANTS, NIGHTCLUBS AND ALL THAT OLD TOWN SCOTTSDALE HAS TO OFFER.
3519 Lee Doyle --
Flagstaff, AZ 86005
$1,525,000
3
Beds
2
Baths
2,497
SqFt
Status
Active
MLS #
6772140
Property Type
Single Family Residence
Price Type
--
Located on a large corner lot in a private area of Forest Highlands, this charming SINGLE LEVEL home is the perfect mountain retreat. The open floor plan, privacy and additional bonus room provide comfort and versatility for large groups or intimate gatherings. The open kitchen has granite countertops and stainless-steel appliances as well as a large walk-in pantry. It also has a pass-through service window to the bonus room. The large covered deck has both covered and uncovered areas with a built in barbecue and plenty of room to enjoy the outdoors. This is quite the find at a price point seldom seen in Forest Highlands.
6055 E Indigo Sky Road
Hereford, AZ 85615
$1,525,000
3
Beds
3.5
Baths
3,307
SqFt
Status
Active
MLS #
6777571
Property Type
Single Family Residence
Price Type
--
This stunning Santa Fe style 3300 ft.² + is located between Bisbee and Sierra Vista AZ. Just off highway 92 backed against Thompson Peak. This property offers a perfect blend of modern elegance and serene desert living on a spacious 5 acre lot. The house offers two master suites and 2 1/2 bathrooms. The open concept layout flows seamlessly from the welcoming large foyer with Stackstone accents, to the expansive living areas. The gourmet kitchen is equipped with high-end appliances, granite countertops, butcher block Island, Stackstone backsplash and tons of maple cabinets. The huge main master suite provides a relaxing retreat with panoramic valley and Mountain View's walk-in closet, spa like bathroom and private balcony. A detached one bedroom, guest suite and a 40 ft RV garage/worksho
7374 E Woodsage Lane
Scottsdale, AZ 85258
$1,525,000
3
Beds
2.5
Baths
3,472
SqFt
Status
Active
MLS #
6747900
Property Type
Single Family Residence
Price Type
--
Exquisitely curated interiors create the distinguished ambiance offered in this very private, gracious villa. Discerning tastes will take note of the Ralph Lauren inspired fabrics and appointments throughout the spacious floorplan, with comfortable, open living spaces on the main level, including the dramatic vaulted entry & formal living room w/ wet bar, sophisticated Formal Dining, well-lit kitchen w/ charming breakfast room adjacent to the finely appointed Family/TV room, which overlooks the private patio with glass tiled dipping pool. Upstairs, the Primary Suite is a richly appointed sanctuary of it's own, separated by an open walkway from the secondary bedrooms. Additionally, an office/exercise room & delightful powder room exist on the main floor. (Newer roof w/ warranty.) Furniture may be purchased by separate bill of sale for a move-in ready scenario, if desired.