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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160 N Forgeus Avenue Tucson, AZ 85716

$599,000

3 Beds

2 Baths

1,840 SqFt

Status Active

MLS # 6781329

Property Type Single Family Residence

Price Type --

Prestigious Sam Hughes Neighborhood in a limited 9 lot home community on Forgues Ave. This 2 story, 3bedroom, 2 bath home is located in the heart of Sam Hughe walking distance to Sam Hughes Elementary and even the old Rincon Market now as Floras Market Run. All Garages are in the back of the homes allowing great curb appeal. This home has only been owed by one family. Large living room with built in entertainment area. The down stairs has a step down to living room area from entry. Step down to hallway to bathroom and 2 bedrooms. Stairway upstairs for split master bedroom private with master bath. Roman jacuzzi bath tub, pedestal sinks, separate shower. Large walk-in... closet. Vaulted ceilings, separate laundry room, 2 car garage entry from laundry area. Kitchen with eat in area and built in ovens. Back yard enclosed with jacuzzi and grass area. Investor property. Needs remodeling. Power of attorney is selling home and limited info. Home is being cleaned out and pictures coming soon. Selling home As Is. Nov 30th viewing available BY APPOINTMENT ONLY between 10am-2pm. Proof of funds required prior to viewing. Email to co-listing agent. See private remarks regarding access, notices. DO NOT DISTURB elderly resident! All offers are being reviewed in 30 days. No EXCEPTIONS. Offers accepted with 2 additional back ups.

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31013 N 41st Place Cave Creek, AZ 85331

New

$599,000

3 Beds

2.5 Baths

2,096 SqFt

Status Active

MLS # 6787652

Property Type Single Family Residence

Price Type --

Welcome to this spacious and inviting home in highly sought-after Tatum Ranch! With over 2,000 square feet of living space, this bright and open floor plan features soaring vaulted ceilings, a striking wrap-around fireplace, plantation shutters, first floor primary suite and a new first floor A/C unit. The open-concept kitchen is perfect for entertaining, complete with stainless steel appliances, plenty of counter space and pantry. The generous primary bedroom is a true retreat, offering a private patio entrance, a beautiful arched window that bathes the room in natural light, and a luxurious en suite with dual vanities, a soaking tub, and a walk-in closet. The upstairs versatile loft provides the perfect space for a home office or flex room. Step outside to enjoy the spacious covered patio, extended patio, and mature landscaping--perfect for relaxation or gatherings. The extended garage adds valuable storage or workspace. Enjoy the wonderful amenities of Tatum Ranch, including nearby parks, trails, shopping, dining and world-class golf. Don't miss this gem!

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1401 Old Jerome Highway Clarkdale, AZ 86324

New

$599,000

3 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6787713

Property Type Single Family Residence

Price Type --

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10005 E Michigan Avenue Sun Lakes, AZ 85248

$599,000

3 Beds

2 Baths

2,075 SqFt

Status Active

MLS # 6781481

Property Type Single Family Residence

Price Type --

Location is everything for this 3BR, 2BA golf course home in the fun active adult community of Cottonwood in Sun Lakes. Literally steps from the clubhouse and all its many amenities, this meticulously maintained home features a great room w/vaulted ceilings, electric fireplace with stunning, expansive golf course views. Kitchen features painted cabinets, some newer appliances, and an expanded breakfast area with bonus storage. New carpet in all three bedrooms. Large, expanded primary suite w/walk-in shower, dual sinks, modern lighting and a bonus sitting area with extra closet space. Extra deep, south facing covered patio and a serene backyard with mature landscaping. Enjoy the many amenities in Cottonwood: golf, tennis, pickleball, multiple pools, lots of clubs and wonderful restaurants.

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4290 Highway 82 -- Elgin, AZ 85611

$599,000

3 Beds

3 Baths

2,809 SqFt

Status Active

MLS # 6547141

Property Type Single Family Residence

Price Type --

This stunning property offers panoramic views and sits on just over 13 acres, making it a true retreat! The home features a spacious great room with a cozy fireplace and Saltillo tile flooring throughout. Enjoy the Arizona room with a spa, perfect for relaxation. The country kitchen boasts tile countertops, an island, ample cabinetry, a gas stove, and a walk-in pantry. The layout includes Jack and Jill guest bedrooms, each with walk-in closets, and a guest bathroom featuring dual sinks, a walk-in shower, and a linen closet. Unwind under the covered patio, enhanced by the shade of mature pine trees, or take in the serene front courtyard with its desert garden. This property also includes a two-car attached garage that doubles as a workshop. Barn with covered shelter and fencing.

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2509 N Dayton Street Phoenix, AZ 85006

$599,000

3 Beds

2 Baths

1,684 SqFt

Status Active

MLS # 6620344

Property Type Single Family Residence

Price Type --

Nice 3bedroom 1.75 bath with 2 Car Garage the casita in back yard is rented for 800.00 per month making this an awesome Investment property. Also Parking on southside of home for small boat Trailer or additional Cars. Guest home at rear of home with full bath and kitchen great for rental income or for your family to enjoy or maybe a office and alley entrance. you will love this home for a large family or as an investment. close to restaurants and Downtown activities Schools are all nearby. Excellent Location. Owner is working on home and cleaning.

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11217 N Blakely Street Surprise, AZ 85388

$599,000

2 Beds

2 Baths

1,568 SqFt

Status Active

MLS # 6660689

Property Type Single Family Residence

Price Type --

$80k in upgrades. Motivated seller! No waiting, own it now! Quiet street & 55+ section. Deluxe contemporary style. The Smithfield's welcoming extended covered entry and inviting foyer flow into the spacious great room and casual dining area, with views of the desirable covered patio. The well-designed kitchen is highlighted by a large center island with breakfast bar, plenty of counter and cabinet space, and ample walk-in pantry. The beautiful primary bedroom suite is enhanced by a sizable walk-in closet and spa-like primary bath with dual-sink vanity, luxe glass-enclosed shower with seat, and private water closet. The generous secondary bedroom features a roomy closet and shared full hall bath. Additional highlights include centrally located laundry and additional storage.

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13665 W Evans Drive Surprise, AZ 85379

$599,000

5 Beds

3.5 Baths

3,540 SqFt

Status Active

MLS # 6703301

Property Type Single Family Residence

Price Type --

This beautiful property is well maintained, with large open living areas and high ceilings. It has a large new kitchen with lots of storage, new carpet throughout, newly painted, very large garage and much more! Four bedrooms are upstairs, including master bedroom with a balcony, and a family room. The fifth bedroom is downstairs with a full bathroom. This home is great for a growing family!

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7709 W Boca Raton Road Peoria, AZ 85381

$599,000

4 Beds

2 Baths

1,642 SqFt

Status Active

MLS # 6698687

Property Type Single Family Residence

Price Type --

Welcome to your fully renovated, modern oasis! This stunning four-bedroom, two-bathroom home has been thoughtfully updated from top to bottom. Step inside to discover a light, bright, and open floor plan with all-new flooring that flows seamlessly throughout the space. The heart of the home is the gorgeously remodeled kitchen, featuring sleek cabinetry, high-end countertops, and brand-new appliances. Prepare to be amazed by the stunning limestone backsplash and the focal point of the kitchen, a breathtaking waterfall island that offers both beauty and functionality. The kitchen also boasts an eat-in area with tons of seating, making it the perfect spot for casual meals or entertaining guests. The vaulted ceilings add to the sense of space and grandeur, creating a truly luxurious feel. Both bathrooms have also been meticulously updated to provide a spa-like experience, with modern fixtures and finishes. Gather around the new fireplace in the spacious living area, perfect for cozy evenings with loved ones. Outside, a brand-new RV gate provides convenient access to the oversized corner lot, offering ample parking, including space for an RV. Enjoy the outdoors in the newly landscaped front and back yards, providing the perfect backdrop for entertaining or simply relaxing in the Arizona sun. NO HOA!!! For those interested, all the furniture is available for purchase on a separate bill of sale. Please see the list of updates in the documents tab. Don't miss the opportunity to make this beautifully renovated home your own!

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12064 S 186th Avenue Goodyear, AZ 85338

$599,000

4 Beds

3 Baths

2,543 SqFt

Status Active

MLS # 6719055

Property Type Single Family Residence

Price Type --

With full price offer, seller to provide $20k concession towards the complete payoff of remaining solar loan, or towards buyers choosing. This is your chance to secure a home in the highly sought after INSPIRE community of Estrella Mountain Ranch! Boasting a 4 bedroom 3 bathroom, split floor plan; this home sits on a premium oversized lot and has an open great room floor plan. Kitchen upgrades include: RO Water System, dark maple cabinetry with sliding shelves, crown molding, granite countertops, stainless appliances, and large island. The primary suite is generously sized and features a spa like bathroom with custom tile and a spacious walk-in shower. The front and backyard has been meticulously landscaped and upgraded. You will enjoy low maintenance plants, backyard turf, exterior sun screens on the sun exposed side of home, and pergola in addition to the covered patio. Storage is abundant here, the oversized 2 car garage has an additional storage area, storage cabinets, and overhead storage. Additional upgrades include plantation shutters throughout the entire home, wide porcelain plank wood-look tile floors throughout living areas & baths, granite countertops & upgraded mirrors in all baths, water-softener system, & much more! This home comes equipped with a large solar panel package, greatly reducing electricity costs throughout the year. See additional information in documents tab. Solar system was installed in Oct 2019. Total value if paid off over the term of the loan would have been $55,000. Residents of Estrella Mountain Ranch enjoy access to two resident centers equipped with state-of-the-art fitness facilities, community rooms, and outdoor gathering spaces. Additionally, residents can take advantage of the pickleball and tennis courts, two community pools, and a water park with water slides. Outdoor lovers will appreciate the extensive network of over 50 miles of hiking and biking trails, which offer opportunities to explore the breathtaking landscape surrounding the community. Come and discover the magic of life in this vibrant community!

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2323 N Central Avenue Unit 906 Phoenix, AZ 85004

$599,000

2 Beds

2 Baths

1,456 SqFt

Status Active

MLS # 6703380

Property Type Apartment

Price Type --

RECENT PRICE IMPROVEMENT & BEST VALUE at Regency on Central. SPECTACULAR city + mountain views! See virtual tour. Historic building designation = LOW PROPERTY TAX! Quality modern design. Huge kitchen & great room. Tall ceilings. 2 bedrm, 2 bath. Near downtown fun venues & employers (incl. health/academic Banner Hospital, St. Joseph, Barrow, Creighton, UA med school, ASU downtown). Perfect live/work. Resort lifestyle, lock & leave. Mountains, twinkling city lights, BIG sunset ambiance, sparkling pool below. Perfect entertainment/hosting. Upgraded ventilation, modern custom cabinetry & lighting/storage/closets. Spacious chef's kitchen, quartz countertops. HUGE double Electrolux ICON professional refrigerator/freezer. Built-in wine cooler, oven/microwave, mirrored bar, hooded range.

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27194 N Skipping Rock Road Peoria, AZ 85383

$599,000

4 Beds

3 Baths

1,958 SqFt

Status Active

MLS # 6705368

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom 3 bath home. 3 car tandem garage with lots of storage and a 220 plug. Warm neutral color throughout. Home was just painted and new neutral carpet has been installed. Custom tile throughout in all the right places. The large kitchen with granite slab opens into a spacious family room and eat it dinning area. The backyard is an entertainers dream. Great use of space with many outdoor seating areas. There is also your own private bar, natural Gas BBQ, gas firepit, and hot tub. Great mountain views!!

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