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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16455 W Avenida Del Sol -- Surprise, AZ 85387

$567,995

4 Beds

3 Baths

2,480 SqFt

Status Active

MLS # 6682617

Property Type Single Family Residence

Price Type --

The Townsend has a gorgeous open floor plan with Guest Suite and 10' ceilings! Large Gourmet Kitchen with Quartz Countertops. Owners Suite has a deluxe Master Bath with Walk-in rain shower. Home is on a large lot in a secluded neighborhood. Home comes with paver driveway/walk way to entry. and is complete with stone front exterior on house! A Must See!!!!

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16399 W Avenida Del Sol -- Surprise, AZ 85387

$567,995

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6702001

Property Type Single Family Residence

Price Type --

Discover the essence of luxury in this home featuring an upgraded gourmet kitchen with quartz countertops, 42-inch cabinets, & expansive walk-in pantry. The spacious design includes 10-foot ceilings, staggered wood-look tile, and multi-slide patio doors that enhance the open, airy feel. The Primary suite bathroom features an upgraded shower with an added secondary rain shower head. Practicality meets style with 8-foot garage doors & paver driveway, offering ample space for storage and vehicles.

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16372 W Avenida Del Sol -- Surprise, AZ 85387

$567,995

4 Beds

3 Baths

2,480 SqFt

Status Active

MLS # 6718700

Property Type Single Family Residence

Price Type --

This home features a must have Guest Suite as well as dramatic 10' ceilings throughout and a tray ceiling at entry; a gourmet kitchen with quartz countertops, 42'' cabinets, a spacious open great room with a multi-slide door; a beautiful primary suite with a generous walk-in closet. The walk-in shower features a rain shower head. This home offers stylish pavers at driveway/walkway.

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935 Calle Azul -- Wickenburg, AZ 85390

$567,900

4 Beds

2 Baths

1,884 SqFt

Status Active

MLS # 6722019

Property Type Single Family Residence

Price Type --

Beautiful 4bed 2bath 2 car garage home with a large lot large patio RV gate with amazing views. Must see property in Wickenburg AZ.

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8718 N 180th Drive Waddell, AZ 85355

$567,250

5 Beds

3.5 Baths

3,548 SqFt

Status Active

MLS # 6715988

Property Type Single Family Residence

Price Type --

Don't miss out on this beautiful Pulte home in a Great location! Easy access to the 303, I-10 and Luke Air Force Base. This home has an amazing floorplan with the master suite downstairs and 4 large bedrooms plus a huge loft upstairs. The nice sized lot backs to a greenbelt with mountain views from the backyard. You can take this all in while enjoying some quality time under the expansive covered patio. Some of the many wonderful features you will find inside include, granite countertops, an eat-in kitchen, tasteful neutral flooring and tons of storage space. The laundry room has ample space plus a utility sink. The 3 car garage features shelving and an epoxy floor. Come see it today. This one won't last.....

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10221 S Bickwell Trail Apache Junction, AZ 85120

$567,028

4 Beds

2 Baths

2,386 SqFt

Status Active

MLS # 6739939

Property Type Single Family Residence

Price Type --

Experience the difference at Laurel at Blossom Rock! This stunning single-story Laredo design is currently under construction and features a spacious open-concept floorplan. The heart of the home includes an inviting kitchen with an island, seamlessly connected to a bright great room that opens to a private, covered outdoor living space. With 4 bedrooms, 3 bathrooms, and a convenient drop zone right off the 3-car garage, this home offers both comfort and functionality. Plus, $49,000 in premium upgrades are already included, and special financing options are available. The home is expected to be completed by November. Living at Blossom Rock means embracing the outdoors with community parks, miles of scenic trails, beautiful lakes, and signature events. Nearby the Superstition Mountains.

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2422 E Saint Anne Avenue Phoenix, AZ 85042

$567,000

5 Beds

4.5 Baths

2,599 SqFt

Status Active

MLS # 6743335

Property Type Single Family Residence

Price Type --

Welcome to this spacious 5-bedroom, 4.5-bathroom residence blends comfort, and modern living in the sought-after Arbor Subdivision. The spacious open floor plan seamlessly connects the living, dining, and kitchen areas. The gourmet kitchen features stainless steel appliances, ample cabinet space, and a large island. The home boasts five generously sized bedrooms, with the primary suite offering dual sinks, dual walk-in closets, and an en-suite bathroom. Enjoy mountain views from the beautifully landscaped backyard with a large covered patio, turf, and pavers. Additional features include a loft, office, and two-car garage. Arbor Subdivision provides well-maintained common areas, parks, and walking trails. Check it out!

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23852 N 167th Lane Surprise, AZ 85387

$567,000

4 Beds

3 Baths

2,016 SqFt

Status Active

MLS # 6781319

Property Type Single Family Residence

Price Type --

Stunning Family Home with Private Outdoor Oasis This spacious 4-bedroom, 3-bathroom home offers the perfect blend of comfort and luxury, with an inviting front patio that welcomes you into a well-designed living space. As you step inside, you'll immediately appreciate the open, airy feel of the home with its modern finishes and thoughtful layout. The heart of the home features a beautifully kitchen that flows seamlessly into a cozy living room, making it perfect for both everyday living and entertaining. The master suite is a true retreat, offering privacy and tranquility with its own ensuite bathroom and walk-in closet. Step outside to your own private paradise. The backyard is an entertainer's dream, with a heated pool complete with a tranquil water feature, ideal for relaxing or hosting summer gatherings. Enjoy outdoor cooking and dining with the built-in BBQ area, and when the sun gets too bright, simply extend the retractable awning for shade and comfort. Whether you're lounging by the pool or enjoying a meal with family and friends, this outdoor space is perfect for creating lasting memories. With its ideal layout, stylish features, and amazing outdoor amenities, this home truly offers the best of both worlds indoor and outdoor luxury!

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2398 W Arroyo Way San Tan Valley, AZ 85144

$567,000

4 Beds

2.5 Baths

2,535 SqFt

Status Active

MLS # 6707047

Property Type Single Family Residence

Price Type --

Beautiful single family home featured in popular community ''Morning Sun Farms' located in Queen Creek, AZ. This highly preferred [single level] home incorporates a subtle balance of contemporary finishes with a modern design. The home features 4 bedrooms, +Den/5th bedroom, 2.5 bath(s), 2,534 sq ft open concept floor plan, nicely appointed kitchen w/ granite countertops, large [eat-in] island, dual ovens, gas cooking, raised panel cabinetry, ss appliances, and walk-in pantry. Also, this home features large great room space, 9ft+ ceilings, tile flooring, modern plumbing/lighting fixtures [fans], dual pane [low-e] windows, 2'' wood faux blinds, designated dining space, and a dedicated master retreat featuring a spacious sleeping quarters, separate shower/tub, dual sinks, and large walk-in. closet. Lastly, the home features a 3-car tandem garage w/ new epoxy floors & built-in storage cabinets, and a private [resort style] backyard equipped with covered patio space, sparkling heated pool, built in BBQ [w/ dedicated gas line], mature landscaping, backyard wall raised for increased privacy, and separate RV gate --perfect for entertaining guests & family. Morning Sun Farms offers residents plenty of walking & bike paths, green spaces, and is just minutes away from great shopping, restaurants, and entertainment.

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441 S Dodge Drive Chandler, AZ 85225

$567,000

3 Beds

2 Baths

2,162 SqFt

Status Active

MLS # 6736916

Property Type Single Family Residence

Price Type --

Fantastic location in the popular single level community in Kempton Crossing. Well maintained one owner 3BR 2BA plus large den, large kitchen with island and granite counter tops , breakfast nook, formal dining, formal living room and family room with gas fireplace, upgraded tile and wood flooring through out the home, Oversized lot with mature backyard and cover patio, 3 car garage, the home is one of a kind for the subdivision only one built, Kempton crossing is a unique community where all homes are single level with 7400 sqft minimum lot size, this home is the only one of its floor plan in the community, enjoy several nearby family parks with pickle ball courts, biking or walking along the canal and convenient close access to freeway and many stores.

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34475 N Fortini Way Queen Creek, AZ 85144

$566,610

5 Beds

3.5 Baths

2,937 SqFt

Status Active

MLS # 6748798

Property Type Single Family Residence

Price Type --

From AZ-24, take Ellsworth Rd, south. Make a right onto Thompson Pkwy. Turn left onto Tesota Way. The sales office will be on your right.

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4901 W Hunter Trail San Tan Valley, AZ 85143

$566,090

5 Beds

3 Baths

2,926 SqFt

Status Active

MLS # 6778084

Property Type Single Family Residence

Price Type --

Elite community with a lot of amenities! The perfect blend of functionality comes to life. This stunning home boasts 5 bedrooms, 3 baths, bonus space, office and walk-in closets, ensuring that there's room for everyone. The island takes center stage, serving as a social hub where family and friends can gather. Whether you're preparing a gourmet meal or enjoying a family breakfast, the kitchen is designed to be a culinary haven. dark cabinets, granite counter tops with a generous amount of wood look tile! Stepping outside, the 3-panel sliding glass door offers an additional living space that seamlessly extends the indoor experience. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

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