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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9370 E Wethersfield Road Scottsdale, AZ 85260

$2,489,000

3 Beds

3.5 Baths

3,343 SqFt

Status Active

MLS # 6757519

Property Type Single Family Residence

Price Type --

Newly built estate home situated in an exclusive gated community in the Cactus Corridor is available now! Located in the middle of North Scottsdale, minutes from the 101 Hwy with endless entertainment, dining, and shopping - this modern home is in the perfect location and has all the trimmings. Wolf appliances throughout a spacious kitchen, an oversized island with waterfall edge, stacked cabinets with soft-closing drawers, two dishwashers, multiple ovens, a 48'' Miele refrigerator with a full wet bar and a beautiful fireplace that's perfect for entertaining. Home also comes equipped with reverse accent ceilings, LED lighting throughout, upgraded baseboards, and elegant French-doors leading to office area. The open master bedroom with accent wall and luxury bathroom with stand-alone tub and a walk-in shower and closet is a must see. Grand open corner sliding glass doors leading to your soon-to-be backyard oasis. Great insulation with top-of-the-line air purifiers that's built-in throughout entire house. Both garages are fully insulated with dedicated split AC units and stunning epoxy floors that you'll love. Other features include motorized blinds, water softener system, tankless water heater and security cameras safely covering all angles of home. Too many other features to list - act now so you don't miss this one!

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10905 E Oberlin Way Scottsdale, AZ 85262

$2,479,000

3 Beds

3.5 Baths

2,835 SqFt

Status Active

MLS # 6655766

Property Type Single Family Residence

Price Type --

Serene is brand new gated enclave of 21 cutting edge single level contemporary homes designed by Swayback Architects & Planners and built by Sonora West Development. Each Serene home brings a new definition to the ''Lock and Leave'' lifestyle with open Great Room floor plans perfect for both entertaining and everyday living. There are four different models to choose from with lavish interior finishes created by renown interior designers Est Est. This Model C has a 2 car garage and alternate dining available only on lots 12 & 13. Price shown includes lot premiums and 25K pool and a 25k landscape allowance, Sub-Zero & Wolf Appliances & BBQ. Backing to the North side of Pinnacle Peak Mountain in N Scottsdale Serene..

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28118 N 109th Way Scottsdale, AZ 85262

$2,475,000

3 Beds

3.5 Baths

2,875 SqFt

Status Active

MLS # 6655632

Property Type Single Family Residence

Price Type --

Serene is brand new gated enclave of 21 cutting edge single level contemporary homes designed by Swayback Architects & Planners and built by Sonora West Development. Each Serene home brings a new definition to the ''Lock and Leave'' lifestyle with open Great Room floor plans perfect for both entertaining and everyday living. There are four different models to choose from with lavish interior finishes created by renown interior designers Est Est. This Model C has a 2 car garage and available only on lots 14, 15, 20 & 21. Base price shown includes lot premiums and 25K pool and a 25k landscape allowance, Sub-Zero & Wolf Appliances & BBQ. Backing to the North side of Pinnacle Peak Mountain in N Scottsdale Serene..

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4322 E Libra Place Chandler, AZ 85249

$2,475,000

5 Beds

4.5 Baths

5,539 SqFt

Status Active

MLS # 6777241

Property Type Single Family Residence

Price Type --

New Custom Home in the gated community of Vasaro. Home is fully completed and move in ready! 5 large bedrooms, all with in suite bathroom access, separate office, formal dining, large bonus room with a barn door, expansive open great room/kitchen plan w/walk in pantry, custom cabinets, large 3 bowl sink, built-in stainless-steel appliances, 48''refrigerator, commercial style range & hood, tile & wood flooring, 10x16 disappearing wall of glass, this home boast 12' & 15' ceilings and a large 4 car garage, meet with our pool & landscaping contractor and design your own custom backyard oasis. Owner is an agent in arizona

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9749 N Fireridge Trail Fountain Hills, AZ 85268

$2,475,000

5 Beds

5.5 Baths

6,228 SqFt

Status Active

MLS # 6693358

Property Type Single Family Residence

Price Type --

Enjoy majestic mountain views from this stellar residence nestled in the hills of Firerock Country Club. An artistic iron & glass front door ushers you into this gorgeous great room with rich stone floors, an elegant floor to ceiling fireplace, with open doors to pristine patio views. A gourmet kitchen and dining area is a culinary delight with a sub-zero/wolf appliances. Cozy up fireside in a main floor primary suite with custom closets and a spa-like bath. While a spacious office & an en suite bedroom round out the main floor, head downstairs or by elevator to a huge pool/game room, workout room, media room & 2 more en suite bedrooms. Powder rooms on each floor & 2-story views capture a gorgeous pool & spa with captivating sunsets. Club membership is separate. PRICED UNDER APPRAISAL!

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1583 S 155th Street Gilbert, AZ 85296

$2,457,000

6 Beds

6.5 Baths

3,856 SqFt

Status Active

MLS # 6769989

Property Type Single Family Residence

Price Type --

Be Prepare to be amazed! Check out this newly Custom-built home w/ 6 beds, 6.5 bath now on the market! Stunning curb appeal, 4 garage spaces w/epoxy flooring & an attic, 170ft PVT Driveway and a RV gate. Discover spacious dining & living areas w/elegant wood-look flooring, high ceilings w/exposed wood beams & wood floors. upgraded ceilings fans, and neutral palette throughout. The gourmet kitchen is equipped w/Thermador Appliances the aspiring chef needs, white cabinetry w/crown molding, quartz counters, a farmhouse sink, and a prep island complete w/a breakfast bar. The primary bedroom showcases private outdoor access and a lavish ensuite w/dual vanity, Private access to a full Disability bedroom w/ full bath. Anderson windows & Trane A/C units. Large bonus room is ideal for an entertainment center or lounge area! Laundry room offers tons of additional cabinetry and a convenient utility sink. Lastly, the expansive backyard w/its extended covered patio, is a blank canvas w/more than enough space for a pool or guest house! This is the opportunity of a lifetime, don't let it slip by!

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35036 N 85th Street Scottsdale, AZ 85266

$2,450,000

3 Beds

3.5 Baths

4,367 SqFt

Status Active

MLS # 6774947

Property Type Single Family Residence

Price Type --

This stunning 2019 built home is set on a spacious ¾-acre private lot within the highly sought-after gated community of Andaluza. The open-concept design showcases a great room layout with soaring 12ft ceilings and a gourmet chef's kitchen, complete with two large islands, quartz countertops, a Wolf 6-burner cooktop with griddle, oversized refrigerator, dual ovens, a walk-in pantry, and an additional prep area with custom cabinetry throughout. The luxurious primary suite includes a versatile flex space, perfect for a home gym or office, and a spa-like bathroom with dual vanities, a free-standing tub, a walk-in shower with dual shower heads, and two generous walk-in closets offering abundant storage. The home also features two additional ensuite bedrooms, a large dining room comfortably seating 8+, and a formal living room that could easily be converted into a home office or remain as an additional seating/entertaining area. The expansive great room is a highlight with its gas fireplace, beamed ceilings, and a 12ft bi-fold door that opens fully to the covered patio, creating seamless indoor-outdoor living - ideal for Arizona's perfect weather. Outside, the pristine backyard oasis offers a heated PebbleTec pool and spa with an automated Pentair system, an artificial turf putting green, travertine pavers, a misting system, and lush landscaping accented by landscape lighting. Additional features include dual 4-car garages with epoxy flooring and overhead storage, a wet bar with a wine fridge, custom window treatments, and more.

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6922 E 1st Street Scottsdale, AZ 85251

$2,450,000

2 Beds

2.5 Baths

2,638 SqFt

Status Active

MLS # 6657708

Property Type Townhouse

Price Type --

Nestled in Arizona's most sought-after city, The NINES are a new collection of residences in Old Town Scottsdale brought to you by Two Hawks Design and Development. This custom home offers 2,638 SF of living space, 2 bed (3rd bedroom option available), 2.5 bath, loft a 2-car garage, and NO HOA FEES!!! Sleek modern architecture opens to three light-filled levels of refined interior luxury. This home offers expansive windows, a private backyard, a rooftop terrace, 2 additional outdoor patios, and bespoke details and finishes. This custom contemporary home invokes a simple refined style of living with unbeatable proximity to Scottsdale's premier lifestyle amenities. Discover fine dining, high end retail, and the Scottsdale Arts District just steps from your door.

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6930 E 1st Street Scottsdale, AZ 85251

$2,450,000

2 Beds

2.5 Baths

2,638 SqFt

Status Active

MLS # 6657702

Property Type Townhouse

Price Type --

Nestled in Arizona's most sought-after city, The NINES are a new collection of residences in Old Town Scottsdale brought to you by Two Hawks Design and Development. This custom home offers 2,638 SF of living space, 2 bed (3rd bedroom upgrade option available), 2.5 bath, Loft, a 2-car garage, and NO HOA FEES!!! Sleek modern architecture opens to three light-filled levels of refined interior luxury. This home offers expansive windows, a private backyard, a rooftop terrace, 2 additional outdoor patios, and bespoke details and finishes. This custom contemporary home invokes a simple refined style of living with unbeatable proximity to Scottsdale's premier lifestyle amenities. Discover fine dining, high end retail, and the Scottsdale Arts District just steps from your door.

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9917 E Filaree Lane Scottsdale, AZ 85262

$2,450,000

3 Beds

3 Baths

3,800 SqFt

Status Active

MLS # 6683190

Property Type Single Family Residence

Price Type --

Discover luxury in this beautifully remodeled contemporary home, set amidst pristine grounds. Remodel recently completed by The Phil Nichols Company. All new appliances, fixtures, plumbing and roof. Custom architectural details enhance its elegance, while south-facing patios with extensive glass invite natural light and offer views of the resort-like backyard. The open floor plan, high ceilings, and modern finishes create a refined living space. The kitchen features state-of-the-art appliances and custom cabinetry. The master suite is a private sanctuary with a spa-like bathroom and ample closet space. Additional bedrooms offer comfort and privacy. This home is a testament to design and craftsmanship, providing a perfect blend of style and luxury. No Membership Available with this home.

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39115 N 99th Place Scottsdale, AZ 85262

$2,450,000

3 Beds

3.5 Baths

2,960 SqFt

Status Active

MLS # 6755921

Property Type Single Family Residence

Price Type --

Completely remodeled stand-alone home, situated on a corner lot with stunning mountain views and picturesque sunrises and sunsets. This home offers the luxury of a Five-Star resort, featuring beautiful wood floors throughout, sleek modern cabinetry in the kitchen and bar area (with a wine fridge), quartzite waterfall countertops, and an elegant backsplash. The primary bathroom is designed for a spa-like experience, with a freestanding tub and newly installed windows. The inviting patio, complete with a pebble tech spa and gas barbecue, provides the perfect space to unwind after a busy day. The home also includes a two-car garage with epoxy flooring and new patio railings. Home is being offered turnkey with gorgeous artwork.

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10746 E Whitethorn Drive Scottsdale, AZ 85262

$2,450,000

4 Beds

4.5 Baths

4,791 SqFt

Status Active

MLS # 6758164

Property Type Single Family Residence

Price Type --

Experience timeless Mediterranean elegance in this one-of-a-kind Troon North gem. Located in gated Pinnacle Canyon at Troon North, this custom LaBlonde Homes residence features soaring ceilings and a light-filled, open floor plan where no detail has been overlooked. Plus, you will find an oversized 4 car garage complete with electric charging outlets to take advantage of your Tesla Solar system. The gracious master suite offers a perfect retreat with a large closet and workout room, while the oversized secondary bedrooms offer ensure comfort for your loved ones. The chef's kitchen is ideal for gathering and entertaining. Additional highlights include a charming courtyard pool, a private putting green, a spacious 4-car garage, and energy-efficient solar panels for enhanced sustainability.

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