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.

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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8243 E Rancho Vista Drive Scottsdale, AZ 85251

$910,000

3 Beds

3 Baths

1,844 SqFt

Status Active

MLS # 6775087

Property Type Single Family Residence

Price Type --

Pride of ownership! Situated on an oversized 10,000 sqft North/South facing lot with no HOA, this gorgeous home has all the bells & whistles. The home exudes elegance with modern light fixtures, neutral paint, recessed lighting, ceiling fans in every room, and tile flooring w/soft carpet in bedrooms. The welcoming living room is adorned with a fireplace & media niche! The impressive eat-in kitchen boasts SS appliances, butcher block counters, a designer tile backsplash, white shaker cabinetry w/crown molding, and an island w/breakfast bar. The owner's suite includes a recent addition of a primary bathroom with dual quartz sinks, a tiled shower, and walk-in closet. PLUS! Recently upgraded throughout, including 4-ton HVAC, insulation and plaster & newer plumbing drain lines to main. The spacious backyard is like a mini RESORT! Designed for relaxing & entertaining, it features an extended covered patio, several seating areas, a lush lawn, string lights, an outdoor kitchen w/BBQ grill, and beautiful mature trees. With a sparkling pool recently replastered with a newer filter and variable speed pump, this space promises year-round enjoyment. Want MORE? This property comes with a single garage + carport, RV gate, 240V charging, and much more. There are tons more interior and exterior upgrades that you need to check out! Conveniently located near Old Town Scottsdale, greenbelts with miles of biking/walking paths, excellent schools, world-class golf, and great neighbors. This home is perfect and will not last long!

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4437 E Cordia Lane Cave Creek, AZ 85331

$910,000

4 Beds

2.5 Baths

2,633 SqFt

Status Active Under Contract

MLS # 6702951

Property Type Single Family Residence

Price Type --

This amazing home in Sandlewood Estates is a must see. You will fall in love as soon as you walk through the front door. The beautiful split floor plan and an amazing open living space concept is stunning. The extra large corner lot with no neighbor behind, a huge backyard and n/s exposure is a wonderful entertainment area. The kitchen a amazing with an extra large pantry and beautiful island. There are three bedrooms + bath & den that complete the potential kids wing. This home includes an extra deep 2-car garage and a separate 1-car garage. It has been freshly painted and has wood tile throughtout the common areas. Pride of ownership really shows though in this unique home and you will love the neighborhood. Come check it out before it is too late! Lister is related to seller.

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26114 S 226th Street Queen Creek, AZ 85142

$909,990

5 Beds

4.5 Baths

4,008 SqFt

Status Active

MLS # 6773446

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Enchantment series, set in the desirable Harvest community, offers a private gated area just steps from the pools, catch-and-release lake, and park. Enjoy a peaceful retreat while staying close to shopping and entertainment. The oversized gathering room, kitchen, island, and pantry create the perfect space for entertaining or relaxing. Two additional rooms offer flexibility for a game room and extra space. Don't miss out.

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6796 E Bourbon Way -- Prescott Valley, AZ 86315

Open House

$909,000

4 Beds

3 Baths

2,718 SqFt

Status Active

MLS # 6781528

Property Type Single Family Residence

Price Type --

Another FABULOUS Home by Dan Warta Construction in popular/Gated COPPERFIELD Subdivision on 4 Acres with PAVED ACCESS having 2718 Square Feet of SEMI-CUSTOM finishes & 30+ GPM Well. Home has an Open/Split Floorplan with 4Bedrooms, 3Bathrooms, 3CarGarage + Den & one of the Bedrooms is a MINI MASTER/In-Law Set up. GREAT ROOM Concept, Gas Fireplace with Stone Chimney Face w/Wood Mantel, 2 Tone Paint, Wood Plank Luxury Vinyl throughout, Custom Lighting, Ceiling Fans, 6'' Baseboards, & Wood Sill Plates. Kitchen is well appointed with White Shaker Cabinetry, Honed GRANITE w/Satin finish, Island Sink, Breakfast Bar, Breakfast Nook, Soft Close/Dove Tailed Drawers, Stainless Steel Appliances (inc. Wall Oven/Micro, Dishwasher, Smooth Top Range), Tiled Back Splash, Large Walk-In Pantry plus Butlers' Pantry. Master/Primary is spacious with His/Her Walk-In Closets, Dual/Segregated Sinks under GRANITE, Oversized Walk-in Shower with Tile Surround, & direct access to back patio. Additional features include Paver Driveway, Walkway, & Patios. T & G/Knotty Pine Lids above Patios, Mountain VIEWS, Large Laundry Room w/Storage, & all bedrooms have Walk-In Closets. Seller is a licensed real estate agent in CA.

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7277 W Spur Drive Peoria, AZ 85383

$909,000

5 Beds

4.5 Baths

3,508 SqFt

Status Active

MLS # 6772604

Property Type Single Family Residence

Price Type --

Welcome to Shea home, model Emblem 5016! This fabulous 5-bed, 4.5-bath two-story gem exudes charm and elegance. It features a 3-car garage with built-in cabinets, a Tesla charger, and a paver driveway. Inside, you'll find a spacious living room with high ceilings, recessed lighting, wood-look flooring, and neutral paint. The eat-in kitchen includes an accent wall in the dining area, an island with a breakfast bar, plenty of cabinetry, built-in appliances, a walk-in pantry, and quartz countertops/backsplash. Upstairs, the loft offers endless entertainment possibilities. The owner's suite boasts a luxurious bathroom with a dual sink vanity, glass shower, garden tub, and walk-in closet. Additional features include a spacious laundry room and extra storage under the staircase! Host fun gatherings in the oversized backyard, which is comprised of a covered patio, artificial turf, Ramada, and a fenced blue pool. Move-in ready! Seize this opportunity!

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19679 E Estrella Road Queen Creek, AZ 85142

$908,995

4 Beds

3 Baths

2,890 SqFt

Status Active

MLS # 6731757

Property Type Single Family Residence

Price Type --

The ranch-style Julia plan greets guests with a charming covered front porch. Once inside, an extended entry leads to an expansive gourmet kitchen with a center extended island, large walk-in pantry, breakfast nook and great room for entertaining. You'll also appreciate the flex room and a formal dining room with adjacent covered courtyard off to the side of the home. This plan offers three additional bedrooms and two guest baths. This beautiful home features many upgrades including the multi-slide doors in the great room,10' ceilings, tile in all traffic areas and more!

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12301 N Otto (lot 218) Circle Prescott, AZ 86305

$908,888

2 Beds

3 Baths

2,081 SqFt

Status Active

MLS # 6657523

Property Type Single Family Residence

Price Type --

TAKE ADVANTAGE OF BUILDER INCENTIVES! $20,000 BUILDER OPTIONS CREDIT or 1 YEAR INTEREST RATE BUY DOWN TO 5.99%. New home/lot in Whispering Canyon, mtn views & gorgeous skies await you with this 1 ac lot. This ''right-sized'' model offers great room open concept design with highly upgraded kitchen cabinets, granite counters, walk in pantry, and s/s appliances standard. 17'' x 17'' tile flooring & carpet in the main living areas and 10' coffered ceilings add architectural interest. Split floor plan w/2 bedrooms & an office, den, or optional 3rd bedroom. Primary en suite has bathroom featuring dual sinks, walk in shower, & walk in closet. Front landscaping, paver patios and driveway are included. Select your builder options & design finishes. VISIT OUR MODEL HOME.

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1 Easy Street Unit 7 Carefree, AZ 85377

$908,719

2 Beds

2.5 Baths

1,847 SqFt

Status Active

MLS # 6696831

Property Type Townhouse

Price Type --

UNOBSTRUCTED MOUNTAIN VIEWS, FABULOUS DOWNTOWN UPSCALE CAREFREE location offers the epitome of luxury and convenience, where every amenity is just steps from your doorstep in bespoke CAREFREE. This 2 bedroom, 2.5 bath townhome has a Den, that could be an office or an optional 3rd bedroom. From the moment you enter, you'll be captivated by UNOBSTRUCTED MOUNTAIN VIEWS, the CONTEMPORARY OPEN DESIGN, GOURMET KITCHEN BOSCH STAINLESS STEEL APPLIANCES, OPULENT PRIMARY SUITE.. The amazing WALKABILTY of this community only enhance the tranquil, luxurious atmosphere. Community features HEATED Pool, Spa, Putting Green, Bocce, AND More... ball court, restuarants, grocery store, spas, galleries, live music venues, hiking trails, wine bars, and more! Come see how sweet life can be at The View Carefree!

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21639 E Vía De Arboles -- Queen Creek, AZ 85142

$905,000

5 Beds

3 Baths

2,964 SqFt

Status Active

MLS # 6755007

Property Type Single Family Residence

Price Type --

Gorgeous NextGen Home with a resort-like backyard. Two homes in one, main home has 4 bedrooms and 2 baths with a huge great room. A beautiful kitchen with quartz counters, SS appliances, and designated dining area creates an open concept living area. Upgraded flooring throughout, shutters and a custom iron gate at courtyard entry. Split primary suite has outside entry and bath has dual showerheads, oversized tub, and walk-in closet. The backyard is a show stopper, perfect for the AZ outdoor lifestyle. Large pool with baja, water features, firepit, BBQ, and two custom pergola's ready to enjoy outdoor living. The NextGen suite has a gorgeous kitchen, living room, bedroom, and bath. Lovely patio with limestone pavers and a fountain. Corner lot in a desired Queen Creek neighborhood.

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1650 Hillside Drive Wickenburg, AZ 85390

$905,000

3 Beds

2.5 Baths

2,630 SqFt

Status Active

MLS # 6774692

Property Type Single Family Residence

Price Type --

This property is for THREE PARCELS, over 230K sq ft!! Escape to your own desert sanctuary on 5.3 acres of pristine land, where a beautiful 3-bedroom home awaits! A circular driveway, a 4-car detached garage, and easy-care landscape set the stage for serene living. Imagine cozying up by the wood-burning fireplace on a cold evening or opening the sliding glass doors for fresh air; the large living room offers all these PLUS dramatic beams on the vaulted ceilings and wood-look flooring. Formal dining room is ideal to hold a feast! In the kitchen, you will find abundant cabinetry adorned with crown moulding, recessed lighting, built-in appliances, a center island, and a breakfast nook with a lovely bay window. Double doors reveal the spacious primary retreat, showcasing a make-up desk, a walk-in closet, and an ensuite with a jetted tub. Tranquil backyard provides covered patios, dreamy mountain vistas, and a play area. Don't miss the stalls and tack room! This gem will sell fast! Act now before it's gone!

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7630 E Knoll Street Mesa, AZ 85207

$904,999

4 Beds

2.5 Baths

2,760 SqFt

Status Active

MLS # 6780395

Property Type Single Family Residence

Price Type --

Welcome to your dream home in an exclusive, quiet gated community of just 20 residences! This immaculate 4-bedroom, 2.5-bathroom residence includes a den and powder bath, all set on a desirable cul-de-sac lot. With its like-new feel and pristine upkeep, you'll love the 10' ceilings, 8' doors, and engineered wood flooring throughout. The open floor plan flows seamlessly into a gourmet kitchen featuring granite counters, a chic backsplash, a spacious island with a snack bar, and a versatile gas cooktop (also wired for electric). Unwind in the luxurious master suite with dual staggered vanities, soft-close drawers, and an extra-spacious closet. Enjoy the expansive turf in both the front and back yards, a 10' RV gate, holiday lighting master switch, and central vacuum for ease. The 4th-car garage/workshop boasts a 220 single circuit with a 50-amp disconnect and its own mini-split A/C unit for added comfort. Plus, W/D/R all convey! Don't miss out on this truly exceptional home.

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32513 N 135th Drive Peoria, AZ 85383

$904,990

3 Beds

2.5 Baths

2,462 SqFt

Status Active

MLS # 6779068

Property Type Single Family Residence

Price Type --

With a 3-car garage and split floor plan, this 3 bed, 2.5 bath home offers Gorgeous sight lines, 10' and 12' ceilings, 12' sliding glass door and windows placed just right allow for natural lighting and an expansive feel. A classic black and white kitchen provides a timeless canvas to accommodate any style. Champagne hardware offers a modern flare to complement your upgraded quartz countertops. Highly upgraded and 2x6 construction for added energy efficiency.

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