What’s Ahead For Mortgage Rates This Week – October 17, 2016

Last week’s economic news included reports on job openings, retail sales and weekly readings on average mortgage rates and new jobless claims.

Job openings were lower in August after hitting an all-time high in July according to the federal government. Job openings fell to 5.44 million in August as compared to July’s reading of 5.83 million job openings, Job openings reached 5.31 million in August of 2015. Job quits were unchanged in August with a reading of 3.0 million quits; the quits rate was 2.20 percent. There were 5.4 million hires in August as compared to 5.8 million hires in July. The hiring rate held steady at 3.60 percent.

Weekly jobless held steady from the prior week’s reading of 246,000 new claims, although analysts expected a reading of 252,000 new claims. September retail sales increased by 0.60 percent in September and fell short of expectations of 0.70 percent growth. August’s retail sales reading was negative at -0.20 percent. Retail sales excluding the automotive sector were as expected with an increase of 0.50 percent.

Mortgage Rates Rise, Consumer Sentiment Slips

Freddie Mac reported higher rates for fixed rate mortgages. The rate for a 30-year fixed rate mortgage rose five basis points to 3.47 percent. The average rate for a 15-year mortgage was four basis points higher at 2.76 percent. The average rate for a 5/1 adjustable rate mortgage was unchanged at 2.84 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Consumer sentiment was lower in October with an index reading of 87.90 percent. Analysts expected a reading of 91.70 percent based on September’s reading of 91.20 percent. November’s presidential election was viewed by analysts as unsettling to consumers’ feelings about current and expected economic conditions. The index reading for consumer sentiment for current economic conditions rose from 104.20 percent in September to 105.50 in October, but fell sharply for expected economic conditions to an index reading of 76.60. Analysts noted that consumers with lower incomes expressed less assurance about post-election economic conditions.

What‘s Ahead

This week’s scheduled economic reports include the NAHB/Wells Fargo Home Builders Market Index, Sales of Pre-Owned Homes and Commerce Department readings on housing starts and building permits issued. In addition to weekly readings on mortgage rates and new jobless claims, reports on consumer spending will also be released.

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7117 E Rancho Vista Drive Unit 4011 Scottsdale, AZ 85251

$1,795,000

3 Beds

2 Baths

1,944 SqFt

Status Active

MLS # 6705754

Property Type Apartment

Price Type --

Welcome to this truly special Optima Camelview 3 Bedroom 2 Bath 1944 SF showstopper! This breathtaking property underwent a complete remodel by the impressive Wild Development Design & Renovation team. Simply a must see in person, you will be awed from the moment you walk inside by the abundance of floor-to-ceiling glass windows, gorgeous & spacious open kitchen/bar and well laid out living/dining spaces. This property boasts a rare two private patios (one off of the living room & one off of the master) - both featuring lively city & lush landscaping views. The spacious master suite is separate from the two guest bedrooms and offers a custom closet, soaking bath & roomy shower. Both guest rooms have multiple walls of glass and are light & bright. Walk-in laundry room. Two side by side premium private parking spaces, one with tesla/electric vehicle charging. All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.

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6243 E Sunnyside Drive Scottsdale, AZ 85254

$1,795,000

4 Beds

3 Baths

3,124 SqFt

Status Active

MLS # 6763734

Property Type Single Family Residence

Price Type --

Here is a rare opportunity to own in the highly desired and gated Equestrian Manor. With slump block construction, this is a very solid build. The Roof was replaced in 2022. This functional floorpan offers 2 fireplaces, a wet bar and high ceilings in the family room, spacious eat in kitchen, wood shutters and more. Given this property is nestled at the end of a cul de sac on 0,81 acres, with a circular driveway, and sparking pool/ jacuzzi, it provides a great space for entertaining family and friends. This home is being sold AS-IS.

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6311 E Monterosa Street Scottsdale, AZ 85251

$1,795,000

4 Beds

3 Baths

2,287 SqFt

Status Active

MLS # 6757604

Property Type Single Family Residence

Price Type --

***Quintessential Arcadia Ranch***Located in the ''sweet spot'' between Lafayette & Exeter. Large corner cul-de-sac lot with picturesque front yard curb appeal and broadside view of Camelback Mountain. Also known as Friendship Lane, you'll feel welcomed upon arrival. Inviting front patio sitting area leads to classic entry way, large island/eat-in kitchen, vaulted dining & great room, w/ wood burning fireplace, solid oak wood floors, w/ herringbone patterned brickwork, wainscoting & plantation shutters. Granite counters, custom cabinets, stainless Viking appliances, newer lights & fixtures, crown, split floor plan, w/ 2 master bedrooms, outdoor built-in BBQ, & sparkling swimming pool. Large primary master suite w/ jetted tub & big closet. Office off laundry room, side loading 2.5 garage.

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7147 E Rancho Vista Drive Unit 4011 Scottsdale, AZ 85251

$1,795,000

3 Beds

2 Baths

1,922 SqFt

Status Active

MLS # 6722919

Property Type Apartment

Price Type --

A true Optima Camelview renovation masterpiece. The attention to detail is unparalleled. From the moment you walk in you'll be awed by the very specious open floor plan which looks out towards the endless floor to ceiling glass windows and huge completely private terrace. Lavishly renovated from head to toe, no expense was spared in adding every luxury and feature to this breathtaking retreat. Exquisite custom cabinetry and countertops throughout. An extensive Wolf and Sub Zero appliance package, breathtaking custom quartzite slab gas fireplace, smart accent lighting controlled via Lutron Caseta, automated blinds through out +++ All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.

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7180 E Kierland Boulevard Unit 308 Scottsdale, AZ 85254

$1,795,000

3 Beds

3 Baths

2,018 SqFt

Status Active

MLS # 6759965

Property Type Apartment

Price Type --

Luxury Living starts here in N. Scottsdale's highly acclaimed Optima Kierland Tower! Urban walkability & State of the Art Amenities make this the ultimate find! Rare 3/bedroom, 3/bath, NE corner end unit of the 3rd Floor. Picturesque Mountain Views, Floor to Ceiling Windows & Sliding Wall of Glass open to a large Covered Terrace. The expanded 2018 sf floor plan offers a spacious design combining the kitchen, living and dining spaces seamlessly together for the ultimate in open concept high-rise living. Feature wall with linear gas fireplace and custom mantel. Sleek kitchen design with flat-panel cabinetry, custom sliding shelves, Bosch SS appliances, gas cooktop with custom vent hood, granite countertops and prep. island w/breakfast bar seating. Generous split floor plan enjoyed with two primary suites with en-suite baths; one oversized with seating area; both having spacious walk-in closets. The 3rd guest room offers a built-in Murphy Bed perfectly suited for an office/guest suite. Exceptional Extras Include: Sliding wall of glass, motorized shades throughout, primary suite blackout shades, primary bath spa shower, upgraded custom lighting, WiFi thermostats, outdoor tile patio, 2-gas stubs for outdoor bbq and firepit, and more. **Includes 2-parking spaces conveniently located just across from the elevator, as well as a separate Storage Unit.** Gorgeous views of the McDowell Mountains start from your unit and continue from the rooftop pool and patios with breathtaking views, rooftop running track, BBQ areas, TVs, spa, sauna, plunge pool, steam room, & entertaining areas large and small. On the main level, enjoy all the luxurious amenities you could ask for including state of the art fitness center, massage and spa, locker rooms, indoor sports courts including pickleball, basketball, and racket ball, plus party room, coffee bar, gaming room, ping pong and pool table, virtual golf, media area, numerous indoor and outdoor entertaining spaces, and even a shaded dog park with bathing and water stations. Urban walkability is ideally situated right across the street from Kierland Commons & Scottsdale Quarter for luxury shopping, dining and entertainment. Plus, you're minutes from the 101, Scottsdale Airpark, TPC Scottsdale, and WestWorld.

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28729 N 107th Street Scottsdale, AZ 85262

$1,790,000

4 Beds

4.5 Baths

4,197 SqFt

Status Active

MLS # 6787474

Property Type Single Family Residence

Price Type --

Nestled at the end of a quiet cul-de-sac in the coveted Candlewood Estates neighborhood of Troon North, this stunning Desert Contemporary custom home offers the perfect blend of luxury, comfort, and natural beauty. Spanning 4,197 square feet, this exquisite residence features 4 bedrooms and 4.5 bathrooms, each designed to maximize space and create a tranquil sanctuary amidst the breathtaking desert landscape. As you step inside, you're immediately greeted by an abundance of natural light pouring through large windows, filling the expansive interiors and offering sweeping views of the surrounding desert hills and rugged terrain. The seamless transition from indoor to outdoor living is evident at every turn, with the home's open-concept design connecting the spacious great room to the central courtyard, where a sparkling pool and spa create an ideal space for both peaceful relaxation and lively entertaining. The great room, with its inviting fireplace and ample seating area, strikes a perfect balance between luxurious finishes and casual comfort an ideal setting for family gatherings or quiet evenings. Adjacent to the great room is the chef-inspired kitchen, a true masterpiece of design. Outfitted with high-end stainless steel appliances, custom cabinetry, it is a space that effortlessly blends style with functionality, making it a true hub for both everyday meals and larger gatherings. The primary bedroom suite is a true retreat, a spacious and serene getaway that offers stunning desert views, a large walk-in closet, and a spa-like bathroom complete with a soaking tub and walk-in shower. Every detail of the home has been thoughtfully designed with relaxation and comfort in mind. Outside, the central courtyard is a hidden oasis, complete with a shimmering pool, relaxing spa, and lush greenery, creating a peaceful and private atmosphere for enjoying the Arizona sunshine. Whether hosting friends by the pool or unwinding in the evening with a glass of wine under the stars, this home offers an unparalleled blend of luxury, tranquility, and modern living. With its perfect balance of space, comfort, and natural beauty, this home in Candlewood Estates is more than just a place to live. It's a peaceful desert retreat that invites you to slow down, relax, and enjoy life's simpler pleasures.

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30793 N 77th Way Scottsdale, AZ 85266

$1,790,000

4 Beds

3.5 Baths

4,143 SqFt

Status Active

MLS # 6752417

Property Type Single Family Residence

Price Type --

Beautiful home on one of the best lots in popular gated Bellasera. Open and airy floorplan with 4 bedroom/3.5 baths. Enter through front door and be greeted by a wall of windows overlooking backyard and pool and the awesome mountain views! Separate ''guest wing'' with two bedrooms, bath and flex room. Other features include island kitchen with gas cooktop, double ovens, and walk-in pantry, overlooking spacious family room with fireplace, shutters, tile flooring, and pre-wired for surround sound. Extra large Primary Suite that has custom closet organizer. Private backyard features private pool & spa, mature landscaping and oh those views! Enjoy the state-of-the art community center that has pool, spa, workout room and pickleball. All of this, close to shopping, restaurants and golf!

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1206 N La Costa Lane Flagstaff, AZ 86004

$1,786,000

4 Beds

5 Baths

3,965 SqFt

Status Active

MLS # 6776912

Property Type Single Family Residence

Price Type --

Welcome to your gorgeous mountain home in Flagstaff's amenity-rich Continental Country Club neighborhood. Enjoy 2.17 private acres in town—minutes from outstanding schools, golf, and trails! This updated home has panoramic forest views, private patio and deck areas, and easy-maintenance landscaping. The main floor boasts vaulted ceilings, a primary suite, two living spaces with fireplaces, 2 half-baths, a dining area, and an open kitchen with views overlooking the acreage. Upstairs, a 2nd ensuite, a 3rd bedroom, and another full bath. Downstairs has a 4th bedroom, full bath, gym/flex space, and living space--with in-law quarter potential. The expansive floorplan is both elegant and functional. Newer roof (2023) and outside paint (2022). City utilities and services.

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8155 E Thorntree Drive Scottsdale, AZ 85266

$1,785,000

3 Beds

3.5 Baths

4,274 SqFt

Status Active

MLS # 6780559

Property Type Single Family Residence

Price Type --

VIEWS, LOCATION, PRIVACY, MOVE-IN-READY describe this grand, quality-built North Scottsdale home in gated community of Verdante. Resort style backyard built in 2015. Inside this updated home is travertine flooring, 12ft ceilings & 8ft solid core doors w/ extra wide doorways and halls. The primary suite w/sitting area includes spa-like bathroom, two toilet rooms, oversized tub, large walk-in closet. Two offices with clear views of mountains and courtyard. Gourmet kitchen has ALL the bells and whistles, large Quartzite(TajMahal) island, 5-burner gas stove & walk-in pantry. Great room w/ gas fireplace & full bar w/ wine fridge, perfect for entertaining. Home is on ¾+ acre lot, surrounded by natural desert & stunning mountain views. Conveniently located between Pima & Scottsdale. Major updates include HVAC Trane XV18 units (2018), roof w/transferable warranty (2022) and windows (2021). Backyard renovation (2015) included adding pool w/stacked stone surround, firepit, BBQ, travertine pavers and landscaping. The pebble-tec, self-cleaning, heated pool includes two water features and a Baja shelf. Two orange trees in backyard.

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2508 W Mesquite Street Chandler, AZ 85224

$1,785,000

4 Beds

3.5 Baths

4,188 SqFt

Status Active

MLS # 6766098

Property Type Single Family Residence

Price Type --

ASSUMABLE LOAN at 2.5%! Quiet country feel within minutes to 101, 60 & 202 in the City of Chandler! 1.3-acre lot, this stunning home offers a perfect blend of modern convenience and country charm. 4 spacious bedrooms and 3.5 luxurious bathrooms, the home is designed for both comfort and practicality. Whether you're an outdoor enthusiast or car aficionado, the massive 40x40 RV garage complete with an evaporative cooler and a car lift is the ultimate space for your vehicles, tools, and hobbies. For professionals or those working from home, the dedicated office provides a quiet and functional space. If you love horses or animals, the property features stalls equipped with power, water, and air conditioning, along with a lit and irrigated pasture!

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517 E Pony Lane Gilbert, AZ 85295

New

$1,779,900

4 Beds

3 Baths

2,600 SqFt

Status Active

MLS # 6785523

Property Type Single Family Residence

Price Type --

Here's your chance to surround yourself with some much needed peace & quiet in the middle of town! The perfect set-up to build an RV garage, add onto the existing home for a next generation, or guest quarters. the possibilities are endless ! Main home is a 4BR/2BA home with recently added updates, huge living & great room, updated kitchen & bath. Stone & cherry laminate flooring throughout & a cozy fireplace in the great room. Over 2-acres to stretch out, ride horses & to store your trucks, toys & trailers! Arena, tack room, 2-stables & tons of storage... New painted stucco smooth exterior finish, dual pane windows & updated roof to name a few exterior updates. A must see ! Superior location, only 5 minutes to the south 202 FWY, & 30 minutes east of Phoenix.

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36530 N Boulder View Drive Scottsdale, AZ 85262

$1,778,000

5 Beds

4.5 Baths

3,947 SqFt

Status Active

MLS # 6764648

Property Type Single Family Residence

Price Type --

Welcome to Boulder Heights in North Scottsdale. A wonderful community of custom homes close to Carefree and Cave Creek. The front elevation of the home highlights the gorgeous grove of trees as you enter the iron gated courtyard passing the guest casita and courtyard cactus garden. This five bedroom home features a great room floor plan, gourmet kitchen, city lights sunsets and mountain views. Backyard with covered patio over looks the pool for entertaining family and friends. Enjoy the summer sunsets while enjoying outdoor entertainment from the large screen TV. Three car garage and gated side yard parking for all your toys.

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