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
11142 E Mark Lane
Scottsdale, AZ 85262
$1,095,000
3
Beds
2.5
Baths
2,772
SqFt
Status
Active
MLS #
6778454
Property Type
Single Family Residence
Price Type
--
A very stylish remodeled home in North Scottsdale's coveted Troon North area. This single-story gem offers an updated transitionally modern design with a split floor plan, high ceilings, abundant natural light, tile floors, gas fireplace and on-trend finishes throughout. The updated kitchen is fully equipped with granite counter tops, stainless steel GE Monogram appliances, a prep island & gas range for all your home cooking needs. A walk-in pantry with custom shelving & cabinet storage space, a large wet bar area w/glass shelving & custom lighting, a dual-zone wine fridge & dedicated ice fridge make for easy entertaining. The owner's suite features a spa-like ensuite bath, free-standing tub, tile & glass walk-in shower, separated double vanity & a large walk-in closet with built-ins. The Zen like media space with its custom shelving & lighting, hidden monitor cabinet & double door hide-away desk is the perfect space for a work-from-home office, a podcast studio, maybe simply relaxing with your favorite music or a good book. The North/South oriented lot backs to NAOS(natural area open space) for added privacy & ample distance between neighbors. An extended covered travertine stone patio that is directly accessible from the kitchen, family room & primary bedroom via large sliding glass doors, makes the indoor-outdoor Arizona lifestyle a true pleasure everyday living in this home. The oversized backyard is low maintenance thanks to the fully covered stone paver design, that includes a the built-in BBQ with its sit at bar, additional outdoor dining & conversation areas, freestanding spa/hot-tub, fire-pit table, soothing sounds from a water feature & the pre-wired low voltage cafe & landscape lighting, all make for awesome Arizona outdoor living & entertaining. A new pool/spa design build has been prepared & presented here for those that desire & might be considering adding those private amenities to the property. The home's highly desired Scottsdale location provides direct access to some of North Scottsdale's best & many resident's favorite outdoor hiking, biking, golfing, boating/fishing activities(Pinnacle Peak, Brown's Ranch, Troon North GC, Bartlett Lake, Tom's Thumb). The 2.5 car garage with large storage cabinets & a work bench area provides more than enough room for all the cars, motorcycles & the outdoor toys/equipment. The Pinnacle Views community amenities include both tennis & pickleball courts, picnic ramada & large grass playing area for the family & family pets. With all the big ticket items(new roof, ACs, H2O Heater, kitchen, primary & guest bath remodels)already completed on this one, you will not find a better updated, move-in ready, SFD home in the Troon North area at this price.
6331 W Fullam Street
Glendale, AZ 85308
$1,095,000
4
Beds
3
Baths
3,795
SqFt
Status
Active
MLS #
6781766
Property Type
Single Family Residence
Price Type
--
Located in a cul-de-sac in a quiet pocket of Glendale's Arrowhead neighborhood, this custom home boasts amenities rarely available in the area. On the main floor find dual living spaces with separate den, chef's kitchen with breakfast bar, an ample foyer, large laundry room and vaulted ceilings. Upstairs, the primary suite is oversized and checks all the boxes, including covered deck with views. Three other bedrooms are ample in size, each with walk-in closets and a shared hall bathroom. The backyard boasts a grilling area, large covered patio, pebble pool with water feature and slide, along with lawn space for activities. No neighbor to the east lends to an open and private feeling throughout the yard. A 3 car garage,RV gate and NO HOA checks the last boxes on this rare opportunity!
18411 E Tranquilo Way
Rio Verde, AZ 85263
$1,095,000
4
Beds
2.5
Baths
2,995
SqFt
Status
Active
MLS #
6774875
Property Type
Single Family Residence
Price Type
--
Welcome to this charming home situated on the 6th fairway of the Peaks course. This home is in Immaculate condition and is tastefully decorated. Step in to an open floorplan with huge windows that bring in the light and outdoor beauty. The kitchen has SS appliances and granite countertops. The great room has an updated entertainment wall for the big screen and 2 eating areas. With 4 bedrooms, you will have room for guests or offices or craft rooms. The back patio has a large covered area but also faces South for the ideal exposure. Plenty of room to put in a pool or spa. The primary bedroom has a large bathroom and a closet to please.This home is being sold fully furnished with the exception of a small list of personal items and artwork.
3045 E Marlette Avenue
Phoenix, AZ 85016
$1,095,000
3
Beds
3
Baths
2,125
SqFt
Status
Active
MLS #
6775339
Property Type
Single Family Residence
Price Type
--
Situated on a desirable corner lot within the exclusive 24-hour guard-gated Colony Biltmore community, this home boasts a spacious, light-filled floor plan. The inviting living room features vaulted ceilings and a cozy fireplace, seamlessly connecting to a versatile dining area and a charming breakfast room off the kitchen. The kitchen offers updated appliances and ample storage. The primary suite, designed for privacy, is a retreat with direct access to the backyard. The guest suite, additional bedroom, and loft offer flexibility for guests, work, or leisure. The south-facing backyard is complete with a covered patio, pool, spa, and firepit. Newer roof, AC, windows, water heater and flooring provide ease of mind. Don't miss the chance to embrace the coveted Biltmore lifestyle!
1647 W Yosemite Place
Chandler, AZ 85248
$1,095,000
4
Beds
3.5
Baths
3,282
SqFt
Status
Active
MLS #
6784392
Property Type
Single Family Residence
Price Type
--
Welcome to this beautiful TW Lewis single-level home in the highly desirable gated community of Balboa Point in Ocotillo. As you enter, you're welcomed by an elegant foyer and a spacious split-level floor plan. The great room features a stacked stone gas fireplace and a stylish dining area with new light fixtures, creating an ideal gathering space. The gourmet chef's kitchen features stainless steel appliances, a gas cooktop, granite countertops, double ovens, and a spacious island with cabinetry. It also includes a large walk-in pantry and a breakfast nook with a built-in desk. The primary bedroom is spacious, accommodating a seating area and providing private access to the backyard. The ensuite bath features double sinks, a large spa-like bathtub, a tiled shower, and a generous walk-in closet. The three secondary bedrooms are equally noteworthy. Each showcases wood flooring and generous closet space, and one is equipped with an ensuite bathroom. The expansive backyard is designed for leisure and entertainment. It features a pool with a waterfall, a built-in BBQ, a spacious covered patio, and an outdoor fireplace with a seating area. Throughout the home, you will find white plantation shutters and an entire interior freshly painted in November 2024. This community is conveniently located nearhas the highly regarded Chandler Traditional AcademyIndependence, The Village Health & Spa Club, Snedigar Sportsplex, and Ocotillo Golf Club, making it an exceptionally desirable location.
7231 E Tailfeather Drive
Scottsdale, AZ 85255
$1,095,000
3
Beds
2
Baths
2,225
SqFt
Status
Active
MLS #
6720615
Property Type
Single Family Residence
Price Type
--
Sellers are offering buy down rates making this home more affordable, Escape to Paradise with this 3Bed, 2Bath Oasis! As you step inside, you'll be greeted by the warm and inviting atmosphere of this spacious split floor plan of living, featuring sleek SS appliances and granite countertops. The MBed is a tru retreat boasting an additional room with its own mini split air conditioning system, perfect for an exercise room or nursery, MBath is spacious offering a walk in shower, double sink vanity, separate toiletry room. 1of the spare bedrooms has a Murphy bed and desk perfect for guest or office, Backyard is a truGem with private (heated) Pool&Spa controlled by Aqua-link, Surrounded by fruit/lush trees, your very own Sanctuary! This is more than just a place to live - Grayhawk community is an experience, Grayhawk is located in North Scottsdale and is known for being one of the most sought out places to live in Arizona, with their top-rated Schools, World-Class Golf Courses, Luxurious Resorts, and Fine Dining options, with Scenic trails for hiking and or biking take along a map, and add to that its just minutes away from the 101 freeway.
4839 E Laurel Lane
Scottsdale, AZ 85254
$1,094,000
3
Beds
2
Baths
2,204
SqFt
Status
Active
MLS #
6766370
Property Type
Single Family Residence
Price Type
--
Welcome home to this gorgeous fully remodeled home with NO HOA and custom features throughout this gorgeous home. This property includes 3 spacious bedrooms and 2 bathrooms with a 2 car garage AND a COVERED CARPORT WITH RV GATE! Bring all of your TOYS! As you enter through the front doors you will find a large open floor plan with a gorgeous upgraded kitchen featuring an island with waterfall quartz countertops and plenty of space for all your entertaining needs. The primary suite features a large retreat plus a large walk in closet! Let's not forget the mudroom and large laundry room plus key drop! Exit out to the backyard to your own private oasis featuring gorgeous landscaping. Close to NEW PV reimagined development featuring new shopping and restaurants you can walk to for dinner!
8049 N 16th Avenue
Phoenix, AZ 85021
$1,090,000
4
Beds
4
Baths
2,476
SqFt
Status
Active
MLS #
6762237
Property Type
Single Family Residence
Price Type
--
Nestled in the Premier Neighborhood of Royal Palm, this spacious home has 4 bedrooms, 4 bathrooms (3 are ensuite) & is PEARL certified for energy efficiency. Relax in the open Great Room & Kitchen, complete with newer SS appliances, shutters, wine fridge, RO system & lots of cabinet space for the Chef in the house! Owners suite has large bedroom, extra sitting room that opens to backyard & Ensuite bathroom that includes double sinks, toilet room & separate shower & tub...down the hall is the Bed #2 with ensuite bathroom & large closet. Bedroom #3 has natural light & newer flooring. Have any Out of town Guests? They can enjoy their own private bedroom & bathroom ensuite, with direct access to the backyard & pool. Relax under the covered patio with ceiling fan or enjoy a swim in your very own pool. Located in the desirable Royal Palm area with the park around the corner, friendly neighbors & community events, see this home to fully appreciate all it has to offer!
17756 E Silver Sage Lane
Rio Verde, AZ 85263
$1,090,000
3
Beds
2.5
Baths
2,316
SqFt
Status
Active
MLS #
6776395
Property Type
Single Family Residence
Price Type
--
What a View! Enjoy breathtaking vistas of the 11th Fairway & mountain backdrop from this stunning backyard oasis. This meticulously designed 3-bedroom, 2.5-bath Brasada floorplan features a versatile den, an open-concept kitchen/great room, & high-end finishes throughout. The gourmet kitchen boasts a gas stove/oven, spacious island, wine refrigerator, & cozy breakfast area—all in a refined palette of grays & whites complemented by Hunter Douglas blinds & motorized patio shades. Step outside to a private, fenced patio where you can soak in the hot tub, unwind by the fire pit, & savor the views in complete serenity. An automatic watering system keeps the lush landscaping pristine year-round. Don't miss this exceptional opportunity to call Rio Verde home—where luxury and community converge!
6832 S 38th Place
Phoenix, AZ 85042
$1,090,000
3
Beds
3
Baths
3,458
SqFt
Status
Active
MLS #
6780503
Property Type
Single Family Residence
Price Type
--
Owner is Lic. Real estate Broker in the State of Az. Mountain, Lake ,and Golf course view. 300 feet of golf course frontage. Enjoy stunning sunsets from expanded back patio. Perfect location. 10 minutes from Sky Harbor International Airport. Suns, Diamond Back games, Spring training. Custom cabinets t/o. Viking appliances, Sub-Zero Refrigerator. Beautiful floor to ceiling stone F/P. Fantastic granite counter top and much more. Island bar. This is a one of a kind home located in the foothills of South Mountain. Lake views.
61 W Coconino Place
Chandler, AZ 85248
$1,090,000
5
Beds
3
Baths
3,312
SqFt
Status
Active Under Contract
MLS #
6762485
Property Type
Single Family Residence
Price Type
--
This Home is located in the Upgraded Series of The Gallery at Fulton Ranch. This Gainsborough Floorplan is the Only One of It's Kind in Fulton Ranch and feels bigger than square footage indicates. Come Enjoy the Resort Style backyard and the Home Featuring 5 Bedrooms 3 Baths, Formal Living and Dining, Gourmet Kitchen with Double Ovens Built in Microwave, 42'' Staggered Cabinets w/Crown Molding and Island. Large Family Room with Stone Gas Fireplace. Large Primary Suite includes Snail Shower, Jacuzzi Tub, Dual Sinks. Large Walk-out Deck to Enjoy the Sunsets and Views. Upstairs Laundry. Gorgeous Backyard Includes Large Pool, Jacuzzi, Built in BBQ and Smoker. What a Great Place to Relax !!
8236 E Lippizan Trail
Scottsdale, AZ 85258
$1,090,000
3
Beds
2
Baths
2,032
SqFt
Status
Active
MLS #
6772036
Property Type
Single Family Residence
Price Type
--
Welcome to your dream location in McCormick Ranch, Scottsdale! Nestled within one of the most desirable neighborhoods, this area blends luxurious comfort with Scottsdale charm. With a price point well under any other home in the coveted Paradise Park Trails in McCormick Ranch, you can move right in at a super price tag or you'll have a ton of room to make loads of upgrades and add ons! This iconic Scottsdale community offers miles of walking and biking trails, sparkling lakes, and greenbelts, all enveloped in a serene setting. Residents enjoy easy access to popular golf courses, upscale dining, boutique shopping, and highly-rated schools. Known for its relaxed yet upscale vibe, McCormick Ranch is the perfect location for those seeking both tranquility and convenience.