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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10080 E Mountainview Lake Drive Unit 260
Scottsdale, AZ 85258
$600,000
2
Beds
2
Baths
1,298
SqFt
Status
Active Under Contract
MLS #
6695830
Property Type
Apartment
Price Type
--
Introducing an unparalleled opportunity to own a prime lakefront corner unit with breathtaking views of Lake Serena in the prestigious Scottsdale Ranch community. Rarely available, this sunlit sanctuary offers an idyllic retreat with unparalleled vistas. Indulge in leisurely moments on the north-facing balcony, where you can savor refreshments against the backdrop of stunning mountain views framing the serene lake. The recently renovated kitchen boasts brand-new features and high-quality appliances, ensuring both style and functionality. Whether you seek a primary residence, a luxurious vacation getaway, or a lucrative investment, this property is a true gem. Enjoy access to the exclusive amenities of Scottsdale Bay Club, including two pools, two spas, a fitness center, and a tranquil pond. Additionally, residents can partake in the vibrant social scene and amenities of Scottsdale Ranch, further enhancing the lifestyle experience. Stay tuned for professional photos and additional information coming soon! Don't miss your chance to make this extraordinary property yours!
6670 W Pine Cone Trail
Pine, AZ 85544
$600,000
3
Beds
2
Baths
1,845
SqFt
Status
Active Under Contract
MLS #
6722636
Property Type
Single Family Residence
Price Type
--
Gorgeous, newly built (2021) home on a half acre lot, nestled in the cool pines. This spacious home boasts an open floor plan with a large great room, kitchen, two bedrooms and bath downstairs while the primary bedroom and bathroom is upstairs with a private patio. Kitchen has top of the line appliances, granite countertops, beautiful backsplash, upgraded cabinets and a farmers sink. Wood tile planks throughout the home, no carpet. Beautiful sliding doors off the kitchen and great rooms offer amazing views of the lush forest. The home was constructed with James Hardie fiber-induced concrete siding which is fire resistant and has Milgard exterior windows and sliding doors. You won't want to miss seeing the amazing home.
3611 N Tuscany --
Mesa, AZ 85207
$600,000
3
Beds
2.5
Baths
2,150
SqFt
Status
Active Under Contract
MLS #
6779631
Property Type
Single Family Residence
Price Type
--
Beautiful 3-bedroom (plus loft), 2.5-bath residence in Rolling Hills at Las Sendas and EVERYTHING LAS SENDAS HAS TO OFFER! Welcoming living room with soaring vaulted ceilings, half-moon clerestory windows, plantation shutters, and a harmonious blend of soft carpet and tile flooring. Gather in the family room, offering sliding doors that lead to the backyard for seamless indoor-outdoor living. The gourmet kitchen comes with granite counters, custom wood cabinetry with crown moulding, a stone tile backsplash, recessed lighting, SS appliances, a handy pantry, and a peninsula with a breakfast bar. The main bedroom includes plush carpeting, balcony access, an ensuite with double sinks, and a walk-in closet. **1 newer ac in 23' and other 21' ..tankless water heater in 19 and water softener 23'. Enjoy a breath of fresh air on the charming balcony showcasing stunning mountain views. The backyard showcases a covered patio, pristine artificial turf, and a play area for outdoor fun. Make it yours!
1364 W Escarpa Street
Mesa, AZ 85201
$600,000
3
Beds
3
Baths
2,025
SqFt
Status
Active
MLS #
6770017
Property Type
Single Family Residence
Price Type
--
Discover this exceptional 3-bedroom, 3-bathroom home on a nearly 1/2 acre hilltop lot at 1364 West Escarpa Street, Mesa, AZ. Enjoy breathtaking valley views, stunning sunsets, and Camelback Mountain in the distance, all with no backyard neighbors. The split floor plan features two primary suites, a family/living room with vaulted ceilings, and a dining room. The kitchen boasts espresso cabinets, granite countertops, a tile backsplash, stainless steel appliances, a breakfast nook, and a bar. Cozy up by the wood-burning fireplace or step outside to the extended covered patio. The triple-tiered backyard offers artificial turf, a fire pit, and a mini motocross/BMX track. With no HOA and proximity to ASU, Old Towne Scottsdale, and major freeways, this home is perfect for those seeking convenience and adventure.
13050 W Running Deer Trail
Peoria, AZ 85383
$600,000
2
Beds
2
Baths
1,867
SqFt
Status
Active
MLS #
6782144
Property Type
Single Family Residence
Price Type
--
Welcome Home to Luxury & Convenience! Experience the pinnacle of modern living in this beautifully upgraded 'Libertas' model with over $70,000 in recent enhancements! With a stunning stone exterior and extensive updates, this home is truly MOVE-IN READY. Highlights & Features: Owned Solar System (installed 2023) - Eco-friendly and cost-saving! State-of-the-Art TRANE 5-Ton HVAC (2021) - Complete with full-home allergy filtration and surge protection for total comfort. Chef's Kitchen (2022) - Renovated with refinished staggered cabinets with roll-out shelves, premium granite slab countertops, and a massive island. Outfitted with top-of-the-line GE Café stainless steel appliances, including a 6-burner gas stove with griddle, double ovens, French door refrigerator with water dispenser, microwave, and dishwasher. Freshly Painted Interior & Plush New Carpeting in bedrooms (2023) - Every detail is fresh and inviting. Outdoor & Lifestyle Features: North/South exposure with a private backyard featuring a built-in gas BBQ, a covered patio with surround sound, and an ideal setup for gatherings with friends. Low-maintenance landscaping with a PVC drip system & timer (2018). 4-foot extended garage for golf cart storage or extra space! Additional Upgrades: New Maytag washer & dryer with pedestals (2022), reverse osmosis system (2021), water softener, garbage disposal (2022), upgraded LED recessed lighting, and new dimmer switches in key areas. Great room with built-in surround sound speakers for an immersive experience. Community & Location: Nestled in the award-winning, gated Trilogy at Vistancia community for ages 55+, enjoy a world-class lifestyle with 5-star resort amenities at the 35,000 SF Kiva Club, which includes indoor and outdoor pools, a fitness center, spa, cafe, billiards, meeting rooms, library, and courts for tennis, pickleball, and bocce. The Gary Panks-designed golf course winds beautifully through the neighborhood, and additional amenities are available at the Mita Club. With quick access to the 303, enjoy nearby shopping, dining, entertainment, and outdoor recreation at Lake Pleasant and Peoria's Paloma Park. This incredible home is ready to welcome you! Act quicklythis is a rare find in Trilogy!
15223 S 17th Drive
Phoenix, AZ 85045
$600,000
3
Beds
2
Baths
2,008
SqFt
Status
Active
MLS #
6774110
Property Type
Single Family Residence
Price Type
--
Welcome to Your Dream Home in Ahwatukee Foothills! Enjoy breathtaking views of South Mountain Preserve Park in this stunning residence, featuring brand new carpet and fresh paint as of November 2024. The bright, open floor plan connects the kitchen to the family room with a convenient breakfast bar for casual dining and entertaining. With generously sized bedrooms, the third bedroom doubles as a versatile office space. Vaulted ceilings in the formal living and dining areas create a spacious atmosphere. Recent updates include a new roof and HVAC system, ensuring peace of mind. Plus, benefit from direct access to hiking and biking trails! Located minutes from A+ rated Kyrene schools, Desert Vista High School, parks, and quick freeway access. Don't miss this great home!
6312 W Villa Linda Drive
Glendale, AZ 85310
$600,000
4
Beds
2.5
Baths
2,516
SqFt
Status
Active
MLS #
6784492
Property Type
Single Family Residence
Price Type
--
Welcome home to this gorgeous move-in ready home with recent updates and breathtaking mountain views! This spacious 4 bedroom, 2.5 baths includes a convenient downstairs bedroom ideal for guests or multigenerational living. The master suite is a true retreat featuring an attached office or den with its own closet. A private balcony for enjoying the mountain views and ample space to unwind. An upstairs loft and open vaulted ceilings add to the home's airy feel, while north/south exposures offer scenic views from nearly every room. Enter your dream kitchen beautifully designed with white cabinets and quartz countertops. The island offers plenty of space for meal prep or family gatherings. There's a separate dining room as well as a breakfast nook to enjoy your morning coffee. Tile and LVP flooring throughout the downstairs area is ideal for kids and pets for easy cleaning. The extended garage provides plenty of storage space with custom cabinets perfect for your tools while offering space for parking your vehicles or recreational toys. Private cul-de-sac for you tranquility. Hiking trails and Life Time Fitness nearby for your active lifestyle. Don't miss this opportunity to make this your new home where comfort and style come together in a prime location!
27181 W Potter Drive
Buckeye, AZ 85396
$600,000
3
Beds
3
Baths
2,332
SqFt
Status
Active
MLS #
6778768
Property Type
Single Family Residence
Price Type
--
Your Dream Awaits on a Premium Golf Course Lot with Private Casita! Enter through a tranquil front courtyard to discover a thoughtfully designed split floor plan. The spacious main living area is perfect for gatherings, with plenty of room for dining and entertaining. A gourmet kitchen shines with a large center island, granite countertops, tile backsplash, and natural gas cooking. The owner's suite offers a bay window with scenic views, a luxurious bath with double sinks and separate tub/shower, and a roomy walk-in closet. Guests enjoy privacy with a separate guest room, den, and bath, plus a private Casita that doubles as a retreat, office, or hobby space. Enjoy the stunning sunset views over the golf course and White Tank Mountains as you sit on the back covered patio. A rare find!
28643 N 46th Way
Cave Creek, AZ 85331
$600,000
3
Beds
2
Baths
1,832
SqFt
Status
Active
MLS #
6781933
Property Type
Single Family Residence
Price Type
--
***FREE 1% RATE BUYDOWN FOR THE FIRST 12MONTHS** A message from our sellers'' For the past decade, this home has been more than just a structure—it's been a place where cherished memories were created, inside and out. Situated in a friendly neighborhood where connections go beyond the typical wave across the street, you'll find a true sense of community here'' Discover the charm of this single-story home in the highly sought-after Cave Creek! Inside, you'll find custom wood-paneled walls that add warmth and character, paired with an updated kitchen featuring sleek quartz counters and a custom-built breakfast bench perfect for morning coffee. Fresh carpet in the bedrooms makes every space feel inviting and comfortable. Step outside to your private oasis, complete with a sparkling fenced pool, low-maintenance artificial grass, and mature landscaping that creates the perfect backdrop for relaxation or entertaining. Nestled in a coveted location with tons of ''must-see'' features, this home combines style, comfort, and the Cave Creek lifestyle you've been dreaming of.
846 E Tyson Court
Gilbert, AZ 85295
$600,000
3
Beds
2
Baths
1,910
SqFt
Status
Active
MLS #
6717024
Property Type
Single Family Residence
Price Type
--
Seller may consider buyer concessions if made in an offer. Welcome to this lovely home, where you'll find comfort at every turn. As you enter, notice the new flooring and modern paint. The kitchen stands out with its sleek backsplash and stainless steel appliances. The primary bedroom features a large walk-in closet for all your storage needs. The primary bathroom boasts a luxurious double sink setup. Outside, enjoy the covered patio and fenced backyard for added security and privacy. A fresh paint job completes this beautiful home. Don't miss out on making it yours!
1291 W Derringer Way
Chandler, AZ 85286
$600,000
4
Beds
2.5
Baths
2,286
SqFt
Status
Active
MLS #
6720936
Property Type
Single Family Residence
Price Type
--
Seller may consider buyer concessions if made in an offer. Welcome to this comfortable and serene home. Upon entry, you'll notice freshly painted interiors in neutral colors that create a spacious feel throughout. The kitchen features stainless steel appliances ideal for your culinary needs. The primary bedroom includes a large walk-in closet for all your clothes and an ensuite bathroom with double sinks, a separate tub, and shower for relaxation. Outside, a covered patio leads to a private in-ground pool, perfect for leisure. The fenced backyard offers privacy and peace of mind. Recent updates, like new flooring in parts of the home, add to its sophistication. Experience lifestyle and comfort in this unique property.
15002 S 46th Place
Phoenix, AZ 85044
$600,000
4
Beds
2.5
Baths
2,095
SqFt
Status
Active
MLS #
6749101
Property Type
Single Family Residence
Price Type
--
Seller may consider buyer concessions if made in an offer. Welcome to your dream home! This beautifully renovated property features neutral colors throughout for an elegant touch. The remodeled kitchen is a chef's delight with shaker cabinets, stainless steel appliances, a stylish backsplash and a center island. The primary bedroom includes a spacious walk-in closet. The primary bathroom offers a custom tile shower and double sinks for added conveniece. Enjoy the covered patio in the fenced backyard. Don't miss out on this beautiful home!