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.
Click Here to See What Your Home is Worth
5525 E Lincoln Drive Unit 108
Paradise Valley, AZ 85253
$2,375,000
3
Beds
3
Baths
3,093
SqFt
Status
Active
MLS #
6756273
Property Type
Single Family Residence
Price Type
--
Discover the potential of this 3-bedroom, 3-bathroom luxury home, perfectly situated on the lush fairways of a premier golf course. Featuring a private pool and a dedicated golf cart garage, this property offers a unique opportunity for a luxurious lifestyle in a prestigious guard-gated community, complete with unobstructed views of the majestic Camelback Mountain. Located in the highly sought-after Mountain Shadows East enclave, this single-level home occupies a prime lot directly on the golf course, surrounded by stunning mountain vistas. This is an extraordinary chance to remodel, expand, or build your dream home, as many of your neighbors have done in this exclusive community. Enjoy easy access to fine dining, a stylish bar, a rejuvenating spa, and the renowned Mountain Shadows Golf Course, all just a short stroll away. Nestled in the heart of prestigious Paradise Valley, this property provides the perfect canvas to create a custom luxury retreat that complements its beautiful surroundings.
6043 E Redfield Road
Scottsdale, AZ 85254
$2,375,000
6
Beds
4
Baths
3,718
SqFt
Status
Active Under Contract
MLS #
6768132
Property Type
Single Family Residence
Price Type
--
Experience luxury redefined in this extensively rebuilt home, crafted with no detail overlooked by Arlington Custom Builders in collaboration with Martz Development and Living Luxury Homes. This stunning transformation includes a 1,000+ sq foot addition and a completely newly constructed outdoor oasis featuring a pool/spa with a swim-up bar, sunken fire pit, outdoor kitchen, and a sprawling pergola. Set on nearly half an acre, the home is perfectly positioned to optimize space, with a south-facing backyard ensuring abundant natural light. Inside, designer-grade finishes are found throughout, including custom cabinetry and striking shiplap accent walls/custom wall paneling in numerous spaces. The seamless indoor-outdoor living experience is enhanced by all-new windows and doors, including two bi-fold accordion-style doors that open to an impressive outdoor entertainment area. Over 2,100 square feet of limestone pavers laid in an elegant herringbone pattern lead to a sunken fire pit and a limestone swim-up bar with seating for four. The raised spa, finished with intricate 1x1 glass tiles, complements the 35-foot PebbleSheen heated pool, which features a Baja shelf, in-ground self-cleaning pop-ups, and a captivating tiled water feature backdrop. The chef's kitchen is a culinary masterpiece, boasting a 48 ILVE gas range with 8 burners and double oven, Bosch dishwasher, wine fridge, GE Monogram oversized refrigerator, wood grain cabinetry, and durable porcelain and quartzite countertops with a show stopping stone backsplash. The Speakeasy-style game room offers, 30 x 30 black and white porcelain tiles, a custom wet bar and beverage fridge, while the bedrooms feature wood flooring (no carpet), and the bathrooms are adorned with natural stone tile. Additional spaces include a mudroom and laundry room with herringbone brick floors and butcher block countertops. The beautifully landscaped yard and spacious 3-car garage with epoxy floors and new garage doors complete this dream property. Additional highlights include: all new HVAC units, new tile roof underlayment with warranty, a brand-new foam roof over the addition, all-new cabinets, plumbing fixtures, lighting, fans, smooth finished stucco/drywall, and more. This extraordinary custom rebuild offers top-tiered craftsmanship and luxury, all at a price that is truly unbeatable for this level of quality and custom finishes. Don't miss this rare opportunity.
6112 E Calle Tuberia Street
Scottsdale, AZ 85251
$2,375,000
3
Beds
3.5
Baths
3,106
SqFt
Status
Active Under Contract
MLS #
6771124
Property Type
Single Family Residence
Price Type
--
Open the blue Dutch doors to this stunning Arcadia Proper 3-bed, all en-suite home, which also includes a versatile flex space—ideal as an office or potential 4th bedroom—leading to an inviting front porch. Freshly painted with a bright, open layout, this home offers excellent flow, perfect for both daily living and hosting. The backyard is a true highlight, complete with a built-in BBQ, Camelback Mountain views, a fire pit, a pool, and plenty of space for gatherings and outdoor fun. The expansive primary suite features vaulted ceilings and an airy feel. Located on a highly sought-after street in the Hopi School District, this charmer blends comfort and style, ready to welcome its next owner!
4042 N Pinnacle Hills Circle
Mesa, AZ 85207
$2,375,000
5
Beds
4.5
Baths
6,554
SqFt
Status
Active
MLS #
6774139
Property Type
Single Family Residence
Price Type
--
Embrace enduring elegance with a Spanish/Mediterranean influence in this custom masterpiece, nestled in the lush Sonoran Desert of Las Sendas. Harmonizing the comforts of modern living with timeless details, the home features inlaid wood and natural stone floors, Cantera stone fireplace surrounds, and rich natural wood doors, trim and casement windows. Attention to detail is evident in the turned columns and various ceiling treatments, including coffered ceilings, stone-clad groin vaults, barrel domes, and a stunning brick-lined surface-mounted dome over the breakfast nook. Indoor/outdoor living is made seamless with French slider doors in the main living areas, leading out to an expansive under-roof patio with tumbled pavers and elegant wrought iron fencing. A true sanctuary, the back yard features views of Red Mountain and surrounding mountains, a gorgeous fenced diving pool and spa, a gas firepit with seat wall, easy-care artificial turf and a built-in trampoline. The expansive view decks feature over 2,400 SF of entertaining space, offering 360-degree views of city lights, stunning sunsets and mountain views. A locked 'gate' at the rear of the property provides easy access to the extensive hiking and mountain biking trails that run throughout Las Sendas and connect to the Hawes Trail system. Inside, visitors will discover a 'perfect' floor plan featuring 6,030 square feet on the main level and a 524-square-foot upper loft, ideal for an additional game room or play space. Formal living and dining areas greet guests at the impressive entry, while the gourmet kitchen and great room serve as a comfortable retreat at the 'heart' of the home. The kitchen boasts custom Alder cabinetry, bar seating, and a center island with a prep sink, two dishwashers, a 6-burner Wolf range with a built-in griddle, dual ovens, a twin 36 Sub-Zero refrigerator/freezer combo, a warming drawer, built-in desk, and large walk-in pantry. The great room is spacious and warm, with a floor-to-ceiling Cantera stone fireplace, hand-scraped wood floors, built-in speakers and easy access integrated wiring for easy A/V hookup. The owner's suite features a gorgeous fireplace with Cantera surround, sitting area, sublime marble vanities and prep area, a jetted tub, oversized shower, bidet, and a spacious closet with built-ins. Additional rooms include a spacious den with storage closet and coffered ceiling, one bedroom near the owner's suite (perfect for a nursery, gym, or second office), and three guest rooms at the opposite end of the home, all with walk-in closets- two of which have ensuite baths, along with an additional full bath. A separate home theater offers a projector and screen, built-in speakers with direct access to the upstairs loft/game room. The impressive 4-car garage provides over 1,240 square feet of open space, featuring newly coated epoxy floors and two over-height/width double garage doors (one 10', one 8'). room for additional amp service, and a circular drive accented by easy-care turf is great for guests. Las Sendas is an award-winning community with miles of hiking and biking paths, a top-rated golf course, tennis and pickleball courts, heated lap pools, and a gorgeous clubhouse. Convenient to the 202 Red Mountain Freeway, the community backs to the Tonto National Forest, and is just minutes from pristine hiking and mountain biking trails, paddling and kayaking, nearby lakes and just one hour from the cool pines of Payson!
5101 N Casa Blanca Drive Unit 324
Paradise Valley, AZ 85253
$2,350,000
2
Beds
3
Baths
2,293
SqFt
Status
Active
MLS #
6722426
Property Type
Single Family Residence
Price Type
--
''Yes Harriet, there is a garage in historic Casa Blanca!'' #324 is a beautiful single-level home with, 2 BR (split plan), 3 BA, and study. Relax in the wrap-around private garden patio with retractable awning and outdoor fireplace, designed by Charlie/The Green Room. Lovely natural light fills the Great Room with 13' ceilings and fireplace, the cozy den/studio/library, dining area, and gorgeous eat-in kitchen with quartz countertops ...all the things we love to live with. The primary suite features an enormous bath and walk-in closet, just a few steps from the charming ''read a book or swim'' pool..a happy, good mood place! The two-car garage has a sink and new epoxy floor. Enjoy the two other swimming pools, play tennis or pickle ball, or meander the walking paths and rose garden.
13061 N 80th Place
Scottsdale, AZ 85260
$2,350,000
4
Beds
3
Baths
3,303
SqFt
Status
Active
MLS #
6744439
Property Type
Single Family Residence
Price Type
--
Discover LUXURY in this BEAUTIFULLY updated 3,303 SF home on a sprawling 35,140 SF corner lot. Featuring 4 bedrooms, including 2 master suites, and 3 bathrooms, this residence offers both elegance and comfort. Enjoy a spacious layout with a formal living & dining room, a family room with a fireplace, and a gourmet kitchen with dual islands. The backyard is an entertainer's dream with a private pool, above-ground hot tub, sports court, and putting green. Ample driveway space completes this exceptional home. A MUST SEE!
333 Calle Linda --
Sedona, AZ 86336
$2,350,000
4
Beds
3.5
Baths
3,901
SqFt
Status
Active Under Contract
MLS #
6750799
Property Type
Single Family Residence
Price Type
--
Located in one of Sedona's exclusive gated communities, this 4,000 SqFt home offers stunning unobstructed red rock views, boasts DESIGNER UPGRADES throughout. NEW hardwood flooring, stylish light fixtures, and Hunter Douglas electric shades. The spacious floor plan includes a luxurious primary bedroom suite with a double-sided fireplace, a gourmet kitchen with a gas range and wine refrigerator, and a modern great room fireplace with Sedona's most scenic red rocks. The lower level features two private guest suites with en-suite bathrooms. Rare 3-car garage for this neighborhood. Enjoy the community's resort-style amenities, including a pool, pickleball, and tennis courts, in a safe and serene setting. HOA pays for landscaping, paved roads, gates, trash, and more! Rentals: 6-mo minimum. HOA pays for landscaping, paved roads, gates, trash, and more!
3749 E Juniper Circle
Mesa, AZ 85205
$2,350,000
5
Beds
5.5
Baths
4,374
SqFt
Status
Active
MLS #
6754049
Property Type
Single Family Residence
Price Type
--
This home is a collector's paradise, boasting unparalleled elegance and move-in readiness. With recent upgrades enhancing every corner, it offers the pinnacle of luxury living. The open floor plan features bedrooms each with their own ensuite, complemented by walk-out patios and a private backyard oasis that promises a resort-like experience. The home shines with fresh interior paint and a state-of-the-art misting system, alongside top-tier amenities like the Ferrari of Toto Toilets, a new AC unit, and water heaters. A whole-house water filtration and soft water system, therapeutic hot tub, and indoor/outdoor Minka Fans further elevate the living experience. For car enthusiasts, the property includes a true 6-car garage with Swiss Trax flooring and air conditioning for extra comfort. The chef's kitchen is a dream, equipped with Subzero/Wolf appliances and an extension of the outdoor kitchen ideal for entertaining. Every detail in this home has been meticulously attended to, making it a one-of-a-kind property on the market. Don't miss out on the opportunity to explore all the exceptional features when you view this home & receive a complete list of enhancements!
8526 N 82nd Street
Scottsdale, AZ 85258
$2,350,000
3
Beds
2.5
Baths
2,925
SqFt
Status
Active
MLS #
6763740
Property Type
Single Family Residence
Price Type
--
DESIGN PERFECTION & TIMELESS SOPHISTICATION captured in this enchanting Santa Barbara Style home. Meticulous attention to detail has been given to this flawlessly remodeled home loaded with high-end upgrades. Located in the highly sought after neighborhood, The Islands at McCormick Ranch, on a premium size corner lot. The beautifully designed interior captures you upon entry with a stately great room, lofty ceilings adorned with tongue & groove detail, inviting fireplace, and large picture windows flooding the space with natural light. The thoughtfully designed split floorplan offers privacy and space, featuring a spacious primary suite, two guest suites, versatile den/office and elegant formal living & dining rooms. A chef's dream kitchen with custom cabinetry, Thermador appliances, induction cooktop, farmhouse sink, ambient lighting, walk-in pantry and eat-in breakfast area. Other Signature Elements that elevate the home include designer chandeliers, custom closet systems, sophisticated window treatments, 2-fireplaces, intricate ceiling details throughout, Anlin windows, new HVAC units (2021) and more. To complete the high-end design, the exterior underwent a complete renovation by Berghoff Design Group creating a resort style atmosphere. Lush mature landscaping, custom iron gates, courtyard entry, expansive paver patios/walkways, designated entertaining areas, private pool with tranquil water feature, beautifully illuminated landscape lighting making this home a true haven for relaxation or hosting gatherings. McCormich Ranch offers Fabulous Living & Lifestyle with greenbelt walkability and biking paths, nearby conveniences, shopping, restaurants and more. Minutes to Old Town Scottsdale, Spring Training, Arts, hiking and world class event venues. **The home is available furnished, excluding patio furnishings, on a separate Bill of Sale**
4633 N 49th Place
Phoenix, AZ 85018
$2,350,000
5
Beds
4
Baths
2,827
SqFt
Status
Active
MLS #
6763909
Property Type
Single Family Residence
Price Type
--
Arcadia proper beauty on a .7 acre lot with expansive Camelback views. Great for an end user, as home is ready to move into, or as a value add fix and flip. Plenty of room to expand. Furniture is available on a separate bill of sale.
5424 E Morning Vista Lane
Cave Creek, AZ 85331
$2,350,000
4
Beds
4.5
Baths
4,573
SqFt
Status
Active Under Contract
MLS #
6766665
Property Type
Single Family Residence
Price Type
--
This home seamlessly combines timeless luxury & functionality, w/ multiple spaces designed for entertainment, relaxation, & everyday living. It's perfect for those looking for a private yet well-connected residence in a gated community! Set on a premium 1/2 acre lot backing to a scenic wash, this residence boasts 14' ceilings, engineered hardwood floors, dark wood beams, & an open floor plan. Features include a spacious dining room, great room w/ gas fireplace, & a gourmet kitchen w/ Wolf/Subzero appliances & a quartz waterfall island. Primary suite offers dual walk-in closets & spa-like bathroom. 3 additional en-suite bedrooms plus a bonus/teen room & flexroom. Resort-style backyard has a heated pool/ spa, & BBQ ,covered patio w/ heating/misting systems! *Click MORE for add'l info* Premium Interior Lot on almost half an acre in the boutique community of Bellissima located where Cave Creek meets North Scottsdale. This stunning, highly upgraded residence has 4 bedrooms, 4.5 baths, a multi-purpose room, a flex room, an oversized 3 car garage, front courtyard and showstopping private resort style backyard that backs to wash. This Highly UPGRADED timeless home welcomes you as you enter into the beautifully inviting courtyard to a grand glass and iron door where you are greeted by an open floor plan and exquisite finishes throughout. Upon entering you'll notice massive 14' ceilings, engineered hardwood flooring, dark wood beams, modern black accent crown molding, and bountiful windows to fill your home with light! The spacious dining room is stunning with a handsome chandelier and tiled wall and french doors to access the courtyard, perfect for entertaining! The greatroom has a gas fireplace and shelving/cabinets features a stunning chandelier, wood beams and is open to the gourmet kitchen. Large white quartz waterfall kitchen island seats 5 and cafe nook with windows for a great casual dining setting. An upgraded chef's kitchen with plenty of cabinets and countertops is a dream! Wolf/Subzero kitchen package includes 48'' gas range and hood, microwave, dishwasher, and built in double ovens and butler's pantry with a subzero wine fridge. Owners added optional multi-purpose room with additional cabinets for storage and closet, perfect as a teen hang out, additional TV room, kids play area etc. Adjacent to the primary suite, the flexroom that can be used as a home office, artist retreat or exercise room. The primary retreat with wood beams, crown molding also features oversized windows to let in the natural sunlight, 2 doors to bathroom give added privacy! The spa-like bath features a freestanding tub w/ floor mount faucet and tile surrounded shower, plus dual walk-in closets with ample room. The remaining 3 bedrooms all feature walk-in closets and their own en-suite bathrooms. The exterior is stunning! Enjoy indoor/outdoor living: walk through the multi-slide door to a covered patio that is great for entertaining; heating and misting system allows you to enjoy Arizona all year around! A heated pool and spa with water feature & baja step is surrounded by travertine and stacked stone. The low maintenance yard has artificial turf and a gas bbq grill with seating. The Bellissima community features a playgrounds, green areas, trails, grills and ramadas.
4129 E Palo Verde Drive
Phoenix, AZ 85018
$2,350,000
4
Beds
3
Baths
3,450
SqFt
Status
Active
MLS #
6769377
Property Type
Single Family Residence
Price Type
--
Location, location, location! Welcome to this beautiful 4 bedroom, 3 bathroom home, perfectly nestled in a highly sought-after cul-de-sac within the Short Hills community of 85018. Sitting on a lot just shy of half an acre, this property offers ample space and privacy, making it a true gem in the neighborhood. The interior is a unique blend of modern and timeless architecture. The outdoor space is stunning with a large covered patio, beautiful pool and spa, putting green, fire pit area and sauna. The attached mother-in-law suite provides flexibility and convenience, whether for guests or multigenerational living and has a full separate kitchen and eat in area. This home is walking distance to many incredible restaurants including Steak 44, Flower Child & The Global Ambassador! Want great schools too? Hopi, Ingleside and Arcadia! Come see for yourself.