What’s Ahead For Mortgage Rates This Week – November 14, 2016

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.

Whats 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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2100 N Grapevine Drive Payson, AZ 85541

$1,395,000
4 Beds
6 Baths
3,645 SqFt
Status Active Under Contract
MLS # 6774264
Property Type Single Family Residence
Price Type --
Stunning and spectacular custom mountain log retreat located in Chaparral Pines, rated among the best golf courses in Arizona - this exquisite home captures panoramic views of the Mogollon Rim & the 13th hole of Chaparral Pines. Enter the breath-taking great room with its soaring log beams and a wall of floor to ceiling windows that capture the vista views of the Ponderosa pines and the aptly named scenic 13th hole, ''Tree Tops!'' Then relax in front of the massive stone fireplace with adjoining wet bar & meander onto one of the sweeping decks that overlooks the golf course & majestic Mogollon Rim. Two spacious & welcoming master suites each with a fireplace along with an awesome media room await you on the main level & then journey to the upper level which boasts 2 guest bedrooms w/ full baths, plus billiards room & a comfortable den/office. Among the many custom features are hardwood & slate flooring, gourmet kitchen w/granite countertops, breakfast bar & beautiful kitchen cabinetry, built-in appliances. Thirty foot ridge beam ceilings abound and all four bedrooms have balcony patios that allow you to enjoy the crisp mountain air. Please note that the custom made, mountain bedroom furniture (beds & nightstands) for all 4 bedrooms, all TV's & electronics, theater system, and the wildlife mounts (moose, deer, bob cat, fox/bird, turkey) are included in the sale. Prepare yourself for an unparalleled lifestyle that is both relaxed and refined as you enjoy the natural beauty of this luxury gated golf community which include (championship golf course, sports courts, swimming pools, dog park, gym, playground, social activities and clubs and a clubhouse) 2020 EZGO 6-person lithium powered golf cart is negotiable.

28500 N Camel Rock Court Rio Verde, AZ 85263

$1,395,000
2 Beds
2.5 Baths
2,161 SqFt
Status Active
MLS # 6764656
Property Type Single Family Residence
Price Type --
STUNNING GOLF COURSE LOCATION AT TRILOGY VERDE RIVER. MANY UPGRADES TO THIS 1-YEAR-OLD HOME. Situated on the 14th fairway, this 2161sf Brasada plan has 2 beds + den, 3 baths, a heated pool, golf course & mountain views. Park-like setting with carefree turf front/back & 550sf covered back patio for entertaining. Open floor plan w/ custom flooring and 8' 6-panel doors. Large primary en-suite, walk-in closet & bath w/ custom glass shower + tub. Office/den with double doors. 3 wall-mounted TVs convey. Upgraded kitchen appliances, recessed lighting, pendant lights, soft-close cabinet doors & drawers, artwork lighting package. All countertops top of line. Smart space laundry with full cabinets. 580sf 3 bay garage with separate Mini Split AC unit. Perfect for home gym/art studio/workshop.

189 W Eagle Nest Road Williams, AZ 86046

$1,395,000
3 Beds
3 Baths
3,477 SqFt
Status Active
MLS # 6738670
Property Type Single Family Residence
Price Type --
This authentic log cabin is a harmonious blend of ornate elegance and rugged charm, ready to welcome you home. 5,000 gal cistern & water delivery available. NOA HOA! VRBO & AIRBNB friendly. Room for RV parking, toys, plus a 5+ stall barn with turnouts, electricity & water, and equipped with separate 2,500 gal cistern. This home is a true log cabin retreat! Soaring ceilings and a hearty central fireplace anchors the living room with spectacular views to the east. This cabin is expertly insulated for a warm and inviting atmosphere year-round. Unique copper countertops in the kitchen & laundry room are sure to impress guests and perfectly complement the rustic feel to the home. The master bedroom offers a spacious ensuite and access to the back deck for serene mornings watching the sun rise. Wood floors add to the timeless appeal, while the cozy den features floor-to-ceiling shelving ready to house your favorite afternoon reads. Upstairs, the loft sits quaintly across the stone fireplace and leads to an adjoining bedroom with private deck access. AVAILABLE FOR ONLY A SHORT PERIOD OF TIME. DON'T WAIT TO MAKE YOUR MOVE.

6514 N 85th Place Scottsdale, AZ 85250

$1,395,000
6 Beds
5 Baths
3,540 SqFt
Status Active
MLS # 6761679
Property Type Single Family Residence
Price Type --
RARE OPPORTUNITY to own this spacious 2,600 sq ft main house + 940 sq ft SINGLE LEVEL GUEST HOUSE in Park Scottsdale backing to the CANAL! UNICORN PROPERTY has ENERGY EFFICIENT & SMART HOME features galore! Main house & guest house are each UPDATED & equipped w/their own 2-car attached garages ~ Main house tri-level offers 5 bedrooms & 3.5 baths ~ Main house bright & modern kitchen w/soft close white cabinets extending to the ceiling, QUARTZ COUNTERTOPS, INDUCTION COOKTOP, built-in oven, under-cabinet lighting, LARGE KITCHEN ISLAND w/seating & storage, STAINLESS STEEL APPLIANCES & a reverse osmosis system ~ Main level features living room/great room, large laundry room, bedroom w/door to backyard & a half bath ~ Upstairs features a primary en-suite, 2 add'l bedrooms & a guest bathroom ~ Primary bedroom has 3 separate closets, an en-suite bathroom w/a luxurious Japanese STEAM SHOWER w/multiple shower heads ~ Lower level/downstairs offers a versatile great room & entertaining space w/an electric fireplace, bedroom, a full bathroom, & office space PLUS a WALKOUT BASEMENT exit to backyard ~ Whole home & ENERGY-EFFICIENT updates including LED LIGHTS, SPRAY FOAM INSULATION, AC MINI-SPLITS in every bedroom for precise temperature control, max efficiency & NEWER ROOF (DEC 2023) w/REFLECTIVE SHINGLES for heat resistance, complete w/a transferable warranty & 200AMP ELECTRICAL PANEL ~ SMART HOME designed to make life easier w/motorized curtains, Alexa controlled Lutron lighting & music, internet enabled locks, security cameras & garage doors ~ 2 car attached garage w/EPOXY floors, abundance of storage cabinets, attic storage (that stays cool even in the summer!) and a 50 amp EV charging plug. The spacious GUEST HOUSE features 1 bedroom + a den/office, 1.5 baths & its own private outdoor space ~ The large eat in kitchen is equipped w/matching STAINLESS STEEL Whirlpool appliances, white cabinets w/glass fronts, GRANITE COUNTERTOPS & under-cabinet lighting ~ Primary bedroom has en-suite bathroom w/a bathtub & luxurious shower w/MULTIPLE SHOWER HEADS, a Toto washlet toilet w/ BIDET & updated vanity ~ The guest house has it's own attached garage w/epoxy floors & tons of cabinets w/storage & a newer HVAC system ~ Smart features in the guest house include Alexa controlled music & lights ~ Perfect for friends or family, multi-generational home, or as a rental property, offering excellent income potential as a short- or long-term rental. Main house and guest house have recently had new EXTERIOR STUCCO & PAINT (Sept 2024) and the SUPPLY & SEWER LINES FULLY REPLACED including all the way out to the street (2016). The backyard is an entertainer's paradise, featuring a large covered patio w/recessed lighting, artificial turf, a putting green, & a motorized RV gate updated to alley angle to enable longer vehicle entrance & a concrete parking pad ~ 50 amp RV charging plug on side of house & RV hookup for sewer, power & ethernet. This oversized cul-de-sac lot backs up directly to the canal, offering stunning views of Camelback Mountain and easy access to the Scottsdale Greenbelt for biking, jogging & dog walking ~ Located in the highly desirable Park Scottsdale community, this home offers a prime location within walking distance to the canal, Scottsdale Greenbelt, Chaparral Park, and top-rated schools like Saguaro High School and Pueblo Dual Immersion Spanish Elementary ~ Enjoy being just minutes from Scottsdale Community College, Old Town Scottsdale, Fashion Square, Talking Stick Baseball Fields the 101 Freeway and so much more!

10679 E Fanfol Lane Scottsdale, AZ 85258

$1,395,000
4 Beds
3 Baths
3,260 SqFt
Status Active
MLS # 6719440
Property Type Single Family Residence
Price Type --
Stunning custom-built residence nestled on over a third of an acre within the exclusive confines of a gated community in Scottsdale Ranch! This home is a seamless blend of sophistication and comfort, perfectly suited for both formal gatherings and everyday relaxation. Architectural marvels such as stately columns and graceful archways adorn the interior, while an abundance of windows invite natural light to cascade throughout, offering picturesque vistas of the sprawling backyard oasis and the sparkling pool area. Luxurious stone and wood flooring grace every corner, leading you to a chef's kitchen boasting expansive granite countertops, state-of-the-art stainless-steel appliances, and a striking drop-down vent hood. Entertain in style within the expansive family room, complete with complete with soaring ceilings, a cozy fireplace, and a sleek media center. Retire to the primary suite, featuring a private fireplace, access to a secluded patio retreat, and a spa-like bath replete with a raised garden tub, and a glass-enclosed shower. The immense walk-in closet offers ample storage for even the most discerning fashion enthusiast. Outside, revel in the joys of outdoor living beneath the expansive covered patio, where guests can gather for soirées or take a refreshing dip in the pool, all while savoring al fresco dining beneath the shaded ramada. Experience the epitome of luxury living in this meticulously crafted sanctuary!

12425 E Via De Palmas Road Chandler, AZ 85249

$1,395,000
4 Beds
2.5 Baths
2,457 SqFt
Status Active
MLS # 6753372
Property Type Single Family Residence
Price Type --
Don't miss this incredible opportunity to own a custom single-story home with no HOA, nestled on nearly 1.5 acres of beautifully maintained grounds in the highly sought-after county islands of Chandler. This charming property boasts mature fruit trees, lush grass, and a variety of plants, offering a serene retreat with ample space for your animals—pigs, cows, chickens, horses, and more are welcome here! Enjoy the ultimate outdoor living experience with a private pool shaded by mature trees, perfect for relaxation and entertaining. The expansive lot provides plenty of room to park all your toys and trailers, with additional storage in the 3-car garage, complete with cabinets for convenience. Inside, you'll find 4 spacious bedrooms and 2.5 baths, featuring fresh paint and new carpet throughout. The Saltillo tile in the living areas complements the home's country style, while high ceilings and abundant windows create an inviting, airy atmosphere. Recent upgrades include a brand-new roof (2024) and a 2-stage AC system installed in 2022. The home is equipped with Tesla solar panels with a low lease payment of just $106 per month, and bird netting to protect both the solar panels and roof. For your entertainment, surround sound is pre-wired both inside and out. This irrigated lot is grandfathered in for all your watering needs, and the property includes a reverse osmosis system. There's even a reinforced area off the master bedroom for your heavy aquarium tank, plus new smoke alarms throughout. With twice-weekly trash service and city water, this home offers modern convenience in a tranquil setting. Homes like this are a rare find, so don't let this opportunity pass you by. Stop by today and discover the charm and possibilities this unique property has to offer! ***Tree List*** Apple, Apricot, Plum, Grapefruit, Orange, Lemon and Pomegranate.

7180 E Kierland Boulevard Unit 312 Scottsdale, AZ 85254

$1,395,000
2 Beds
2 Baths
1,461 SqFt
Status Active
MLS # 6747905
Property Type Apartment
Price Type --
Experience modern luxury living in this stunning 2-bed, 2-bath unit in Optima Kierland Condominium! Home exudes elegance with recessed lighting, a neutral palette, wood-look tile flooring in common areas, and Berber carpet in bedrooms. The large open layout creates an inviting and spacious atmosphere, ideal for everyday living & entertaining! The gourmet kitchen is a cook's delight, featuring granite counters, flat-panel cabinetry, a prep island w/breakfast bar, and high-end SS appliances w/cooktop gas. Split floor plan adds extra privacy! Oversized main bedroom has a cozy sitting area and an ensuite with dual sinks & a walk-in closet. Secondary bedroom also includes its own walk-in closet & private bathroom. The east-facing orientation captures the breathtaking sunrises and the McDowell Mountains' iconic purple hues at sunset. The Optima Kierland lifestyle offers unparalleled living with premier access to world-class dining, shopping, and golfing. Enjoy exceptional amenities like a rooftop oasis with 360-degree views, a pool, spa, outdoor kitchens, fire pits, sauna, and more. Additional perks include a fitness center, pickleball courts, golf simulator, basketball, yoga studios, and a rooftop running deck. Don't miss this rare opportunity!

7222 E Gainey Ranch Road Unit 136 Scottsdale, AZ 85258

$1,395,000
2 Beds
2 Baths
1,776 SqFt
Status Active
MLS # 6757539
Property Type Townhouse
Price Type --
NEWLY REMODELED, SINGLE LEVEL, ON THE GOLF COURSE, WITH NO OTHER UNIT ABOVE YOUR MAIN LIVING AREAS. EXPANSIVE VIEWS ACROSS TWO FAIRWAYS, MOUNTAIN VIEWS AND AMAZING SUNSETS! The perfect Scottsdale Retreat! This combination doesn't come up very often. Don't miss this 2 bedroom, 2 bath, plus den with no steps and 2-car attached garage. Beautifully finished with New Flooring, Remodeled Bathrooms and Kitchen. Enjoy the premier community in Scottsdale with all its resort style amenities . . 6 tennis courts, 4 pickleball courts, gym, 25 meter pool, and nestled within the 27 holes of championship golf at the Gainey Ranch Golf Club! Walk to the Hyatt Resort and the Shops at Gainey Village. Enjoy the resort lifestyle in Gainey Ranch.

7531 E Hazelwood Street Scottsdale, AZ 85251

$1,395,000
3 Beds
3 Baths
2,097 SqFt
Status Active
MLS # 6756655
Property Type Single Family Residence
Price Type --
Welcome to your dream home, a meticulously renovated oasis where modern luxury meets timeless elegance. Step through the new front door and into a beautifully redesigned space enhanced by landscape improvements, including stylish exterior lighting and a fresh stucco courtyard. The herringbone Territorial Hollander paver walkway leads you to custom laser-cut gates, offering a sophisticated entrance to your private retreat. The backyard is a serene haven featuring a Perla Blanca limestone pool surround, a new stack tile pool waterfall, and a saltwater pool with an in-floor cleaning system. Enjoy seamless indoor-outdoor living with a 12-foot stacking glass door that opens poolside, where mature trees provide shade and privacy and Solar panels ensure energy efficiency. Inside, every detail has been thoughtfully updated. The home boasts all-new drywall, doors and hardware, complemented by fresh flooring, trim moldings, and cabinetry. Raised ceilings and new ductwork create a spacious, airy feel, while a new split unit ensures year-round comfort. The kitchen is a culinary masterpiece, featuring custom Bodaq cabinetry, Crema Vosscione honed limestone countertops, Thermador appliances, a range hood, and a massive entertaining bar topped with stunning Volcano Gray granite. The bathrooms are newly completed with luxurious finishes: penny tile floors, curbless showers, two-piece trough sinks, black stainless fixtures, and lighted vanity mirrors in the primary suite; and a large tub with a floating vanity in the secondary bathrooms, accented with Champagne bronze fixtures. Ideally located within walking distance to high-end shopping and dining, and just minutes from Phoenix Sky Harbor and Scottsdale Airport, this home offers both convenience and exclusivity. Every aspect has been designed with quality and elegance in mind, making it a perfect sanctuary for modern living.

12789 W Via Caballo Blanco -- Peoria, AZ 85383

$1,395,000
4 Beds
4.5 Baths
3,825 SqFt
Status Active
MLS # 6757074
Property Type Single Family Residence
Price Type --
CURRENT INCENTIVE: $30k seller credit to use however Buyer chooses. If you want custom touches, this is it! Sensational Tuscan inspired home in Blackstone with breathtaking greenbelt and mountain views from the courtyard. Fall in love with this resort style backyard with raised pool, spa, firepit, synthetic grass, and travertine extended patio! Quite possibly the most customized TW Lewis home in all of Blackstone with over $387,000 worth of custom touches after the home was built! This original owner didn't miss a single detail inside or out! Beautiful 24'' x 24'' designer flooring, custom baseboards & crown molding, custom chandeliers & designer window treatments throughout! This Gourmet Kitchen is perfection with oversized custom island with high end granite slab and ogee edge. Designer stacked cabinets with glass fronts. Upgraded GE Monogram appliances with Built-in Refrigerator. Double ovens & warming drawer. Pot filler above the gas cooktop. Custom backsplash. Built-in wine rack. Custom built-in desk space with granite slab in the Sun Room off the Chef's Kitchen. Primary Suite features one of the most beautiful bathrooms you will find. Marble shower with 3 shower heads and 4 body sprayers. Extra large shower glass, Penhaglion claw foot standing tub, granite slab counters, and custom lighting! If you're looking for a home with dual primary suites, this is the closest you will find with oversized Guest Suite at the front of the home with custom Bath! Full list of upgrades and custom touches in the Documents Tab. This home is located in the perfect spot with nobody in front. Enjoy beautiful desert, park, and mountain views from the tuscan inspired front courtyard!

4236 E Prescott Place Chandler, AZ 85249

$1,395,000
5 Beds
4 Baths
3,561 SqFt
Status Active
MLS # 6762681
Property Type Single Family Residence
Price Type --
If you're looking for a luxury home with modern architecture, then welcome to your dream home in the highly sought-after gated community of Canopy in South Chandler! This nearly brand-new Tri Pointe home offers an incredible 3600 square feet of luxurious living space, all on one level, with a 4-car garage, and a Tesla battery for power storage. Step inside to find 5 spacious bedrooms, a den, a teen room, and 4 beautifully appointed bathrooms. The kitchen is truly a showstopper, featuring stacked white cabinets that reach the ceiling, upgraded stainless steel appliances, a gas range, champagne gold hardware, and an oversized island perfect for entertaining. Two massive sliders open fully to connect the indoor living space to the stunning outdoor Oasis! The backyard is nothing short of spectacular, boasting a brand-new pool, travertine pavers, a built-in BBQ island, and a huge covered patio that backs to a peaceful park/greenbelt for added privacy and serene views. Plus, the home is directly across the street from a park and within walking distance to Veteran's Oasis Park, a sprawling city park offering nature trails, playgrounds, and serene lake views. With shutters on every window and neutral tones throughout, this home is upgraded to perfection. Don't miss this rare opportunity to own a luxury home in one of Chandler's most exclusive communities!

2092 S Navajo Court Chandler, AZ 85286

$1,395,000
6 Beds
4.5 Baths
4,313 SqFt
Status Active
MLS # 6760399
Property Type Single Family Residence
Price Type --
** SPECTACULAR HOME ** EXCEPTIONAL VALUE ** OASIS IN THE DESERT ** Nestled on a tranquil cul-de-sac lot within the highly-coveted, Arboleda Estates gated community, this beautifully constructed Taylor Morrison home exudes with detailed craftmanship and pride of ownership inside and out, featuring: 6 bedrooms, 4.5 baths, impressive front entry with iron/glass door, plantation shutters, built-in entertainment center, plank tile flooring, SS kitchen appliances, large loft, freshly painted interior (9/24), and a private PebbleSheen play pool. Gourmet & busy on-the-go cooks alike will LOVE the chef's kitchen, which includes white-on-white staggered cabinetry, slab granite counters, induction cooktop, dual built-in wall ovens & microwave, trash compactor, decorative SS pendant lighting, and an over-sized walk-in pantry! SPACIOUS primary suite located on the main level provides sliding barndoor access to large bathroom area having separate garden tub & shower, dual sink vanity w/personal makeup counter, and an oversized walk-in closet; all other bedrooms are generously oversized too AND there are numerous closets everywhere throughout the home to store all your household stuff & things. The 3-car garage mancave w/epoxy flooring also features additional storage including extensive built-in cabinetry, 3 large overhead storage shelves and a soft water system. There's so much storage space in this home you can probably rent your unused space to your neighbors! And there's dual RV gates as well to store your boats, trailers, and other motorized toys. And most importantly the large family room w/dramatic 18 ft soaring ceilings is the central entertainment hub for making so many fun-filled memories; and best of all it opens to an AMAZING backyard paradise where family and friends can play and relax in their own private retreat featuring sparkling heated play pool, four waterfall features, lush green landscaping, and travertine patio & pool decking; and the extended covered patio and turf areas within this 17,296 SqFt (nearly .4 acres) lot provide ample entertainment spaces for all. Finally, this South Chandler private neighborhood offers convenient access to nearby top-rated schools, parks, shopping, and quick-n-easy freeway access to the 101/202. Washer, dryer, and fridge convey to new owner. This is truly a MUST-SEE, rare DREAM HOME to own!

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