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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6078 E Southern Avenue Apache Junction, AZ 85119

$584,900

3 Beds

2 Baths

1,844 SqFt

Status Active Under Contract

MLS # 6720211

Property Type Single Family Residence

Price Type --

Exceptional property nestled on an acre lot, perfect for horse lovers! Near the Superstition Mountains, this BEAUTIFULLY REMODELED home offers breathtaking views & a serene environment. Providing 3 beds, 2 baths, & a 2-car garage. Highly upgraded interior showcases fresh neutral paint, tons of natural light, and wood-look flooring w/carpet in bedrooms. If entertaining is on your mind, you'll love the spacious open layout adorned w/a cozy fireplace! The renewed kitchen boasts SS appliances, quartz counters, recessed & pendant lighting, white shaker cabinetry, and an island w/breakfast bar. Main bedroom has a spotless bathroom w/tiled step-in shower. Relax under the covered patio of your expansive backyard! Plenty of room for parking, gardens, and horse/animal facilities! Move-in ready

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25139 N 171st Lane Surprise, AZ 85387

$584,873

5 Beds

4 Baths

3,185 SqFt

Status Active

MLS # 6762097

Property Type Single Family Residence

Price Type --

MLS#6762097 January Completion! This flexible Victory floor plan offers an open-concept living area where the kitchen seamlessly flows into the great room, with a separate dining area nearby. The primary suite, conveniently located on the first floor, features a generous walk-in closet and a beautifully designed bath. Also on the main level are a full bathroom, an additional half bath, and a versatile flex space to suit your needs. Upstairs, you'll discover secondary bedrooms, a full bathroom, ample storage space, and a loft for added living or entertaining space. Structural options added include; Gourmet kitchen, paver front porch and walkway, bedroom 5 with bath 4, and garage service door.

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926 N 97th Way Mesa, AZ 85207

$584,870

3 Beds

2 Baths

1,651 SqFt

Status Active

MLS # 6747081

Property Type Single Family Residence

Price Type --

45 - 60 DAY CLOSE! Beautiful Modern Desert Farmhouse home with NO HOA, Fully fenced backyard, & Beautiful modern finishes! This incredible home includes 1,651 SQFT, 3 large bedrooms, 2 bathrooms, an oversized 2 car garage, open floor plan & kitchen, white quartz counter tops, upgraded stainless steel appliances, farmers sink, modern cabinets, built in soaking tub & double vanities in the primary bathroom, fully fenced backyard, the ability to build a casita or RV garage, & so much more!

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14107 S 203rd Lane Buckeye, AZ 85326

$584,800

4 Beds

2 Baths

1,921 SqFt

Status Active

MLS # 6754403

Property Type Single Family Residence

Price Type --

Nestled on a serene 1-acre lot in a peaceful cul-de-sac, this remarkable single-story home offers an unparalleled blend of comfort, style, and outdoor living! Be greeted by a circular driveway, solar panels, and an inviting front porch—an ideal spot to enjoy your morning coffee. With a 3-car garage and ample parking space, this property ensures you'll never have to worry about guest parking. Designed for both relaxation and entertainment, the expansive backyard is truly a retreat! It features a full-length covered patio, fire pits, a deck, a built-in basketball hoop, and a refreshing pool with a water feature. This gem has plenty of space for horses, animals, or your toys! Breathtaking mountain vistas! Hurry! Your paradise awaits!

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2620 Nelson Lane Chino Valley, AZ 86323

$584,335

3 Beds

2 Baths

2,076 SqFt

Status Active

MLS # 6776580

Property Type Single Family Residence

Price Type --

AVAILABLE NOW I Move-In Ready on a 1 Acre Lot! Welcome to Arizona's High Desert, a luxurious neighborhood offering a unique experience for those seeking spacious living and a love for the outdoors! Situated on 1-acre homesites, our community is designed to provide ample space and privacy while enjoying the cooler desert climate. Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. For those enjoying travel, opt for a floorplan that includes an RV Garage! You won't want to miss out; plan a visit with us today.

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9315 E Arrowvale Drive Sun Lakes, AZ 85248

$584,000

2 Beds

2 Baths

1,842 SqFt

Status Active

MLS # 6779048

Property Type Single Family Residence

Price Type --

Welcome home! This 2-bedroom, 2-bath residence features a 2-car garage, a paver driveway, and a well-maintained front yard. You'll be delighted by the living/dining room with vaulted ceilings, a soothing palette, and durable tile flooring. The gourmet kitchen boasts a breakfast nook, granite counters, custom wood cabinetry with crown moulding, recessed lighting, built-in appliances, a pantry, and an island with a breakfast bar. You'll also find a versatile den ideal for an office or study. The main bedroom offers plush carpeting, a quaint sitting nook, an ensuite with dual sinks, and a walk-in closet. Enjoy relaxing outdoor moments in the backyard, showcasing a covered patio and abundant space for hosting memorable gatherings with loved ones. Make it yours today!

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1247 E Marketplace Way Phoenix, AZ 85048

$584,000

3 Beds

3 Baths

1,809 SqFt

Status Active

MLS # 6704331

Property Type Single Family Residence

Price Type --

WOW!! Priced Below Comparable sales! Hard to find Lot!! 3 bedroom 3 full baths. This home has 2 master suites. Huge nearly a quarter acre lot with massive pool and spa. Single family detached home is all on one level on a cul-de-sac with lots of natural light boasting soaring ceilings. ALL NEW STAINLESS APPLIANCES INSTALLED! Recently upgraded Kitchen Cabinets. 2nd HVAC unit for Garage. Located in one of the most coveted areas in Ahwatukee in the heart of the Foothills. The lot sits above the homes behind it giving it that much more privacy and resort feel. Great views of the the Foothills golf course. Excellent Montessori School within Kyrene School District. Hot water heater replaced in 2023 Trane HVAC Pool RePlastered in 2019 New pool Filter and pump 202

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4170 Apache Drive Happy Jack, AZ 86024

$584,000

2 Beds

2 Baths

1,605 SqFt

Status Active

MLS # 6722854

Property Type Single Family Residence

Price Type --

This charming single-family home is the perfect place to call your own. With 2 bedrooms, 2 bathrooms, and a spacious floor plan, this property offers all the space and comfort you need. Step inside and be greeted by the warm knotty pine doors and baseboard, wood trim around all dual pane windows, giving the home a cozy and rustic feel. The vaulted ceiling adds to the open and airy atmosphere, while the vinyl plank flooring and newer carpet upstairs add a touch of modern elegance. The remodeled kitchen is a true centerpiece, featuring designer copper drawer pulls, granite countertops, and a countersunk sink. Whether you're cooking a gourmet meal or grabbing a quick bite, this kitchen is sure to impress. The master bedroom is a true retreat, complete with a sitting area, oversized reach-in closets, and walk out balcony covered for privacy with your morning coffee. levelor cordless up down blinds throughout as well as honeycomb blinds on the french door. The remodeled bathrooms offer copper sinks, granite counters, and a luxurious jetted tub perfect for relaxing at the end of a long day. Outside, you'll find 3 large covered porches for added outdoor living space, ideal for enjoying the pleasant Arizona weather. The fenced-in dog run is perfect for pet owners, while the raised garden area allows you to exercise your green thumb. Additional features of this property include a tuff shed for extra storage, a 2-car detached garage, and mature trees that provide shade and privacy. The exterior paint is less than 3 years old, giving the home a fresh and inviting look, upgraded porch lights add the perfect finishing touches. Not only is this home beautifully appointed, but it is also surrounded by desirable forest trails for hiking and biking, lakes for fishing and Blue Ridge Reservoir for the kayakers. This home comes furnished and is turn key ready for you to move in. Don't miss out on this incredible opportunity to own a piece of Happy Jack. Contact us today to make this dream home yours.

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29559 N Tarragona Drive Peoria, AZ 85383

$584,000

2 Beds

2 Baths

1,546 SqFt

Status Active

MLS # 6740829

Property Type Single Family Residence

Price Type --

Stunning Allure model - High ceilings, Open Floor Plan, Plantation Shutters & Consistent luxury vinyl plank Floors throughout. Gourmet kitchen has storage galore! Cabinets w/pullouts, granite, stainless appliances, RO system, Glazed subway tile & walk in pantry. Tranquil Spacious Master Bedroom W/sitting area overlooks beautiful backyard. Relaxing spa style master bath w/ Moen shower station, dual sinks, upgraded tile & large closet W/built in organizers/drawers! Large laundry room W/D & Container Store organizer system included. 2 Car Garage W/custom cabinets & sink, Professionally landscaped backyard is perfect for entertaining- Pavers, PVC irrigation, Covered Patio. Trilogy is an amazing gated active adult community that features 2 clubhouses, Golf, Fitness centers, Pools & more!

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12015 W Parkway Lane Avondale, AZ 85323

$583,995

4 Beds

3 Baths

2,480 SqFt

Status Active

MLS # 6742829

Property Type Single Family Residence

Price Type --

Discover this ranch-style Townsend home, ready for quick move-in! Included features: a covered front porch; a relaxing great room with center-meet patio doors; a gourmet kitchen boasting 42'' cabinets, quartz countertops, stainless-steel appliances, a generous center island and a walk-in pantry; a charming nook; a luxurious primary suite showcasing additional windows, a spacious walk-in closet and a private bath with double sinks; three secondary bedrooms, including on with an attached bath; a shared hall bath; a beautiful study; a central laundry and an inviting covered patio. This home also offers dramatic 10' ceilings, wood laminate and 9 x 35 stone tile flooring, cultured marble bath countertops, ceiling fan prewiring in select rooms, front yard landscaping and concrete pavers at the driveway and walkway. Tour today!

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22693 E Saddle Way Queen Creek, AZ 85142

$583,990

4 Beds

3.5 Baths

2,623 SqFt

Status Active

MLS # 6740821

Property Type Single Family Residence

Price Type --

**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Jade plan features 3-car tandem garage, butler's pantry at the kitchen, 4 bedrooms and 3.5 baths, formal dining room with structural option to add a separate den, 12 ft slider and more! This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances. Amazing spa like primary suite with dual vanities and ample linen storage. This floorplan is accompanied by sizable secondary bedrooms and comes standard with 10' ceilings, front yard landscaping, paver driveway, dual sinks at primary bath, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

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20377 W Terrace Lane Buckeye, AZ 85396

$583,500

4 Beds

3 Baths

2,725 SqFt

Status Active

MLS # 6753236

Property Type Single Family Residence

Price Type --

This impeccably maintained 4 bedroom 3 bathroom home is located in the heart of the highly sought after Verrado community. Verrado boasts championship golf course, community facilities such as pool, community center, full gym, tennis, pickle ball courts., countless hiking paths and trails for all levels of hikers, the now famous stairs of Verrado, Main street area with restaurants, grocery store, coffee shop, and more. The interior of this home includes custom 2 tone paint, gourmet kitchen with staggered 42'' upper cabinets with crown molding, granite counters, stainless steel appliances, huge walk-in pantry, abundant storage through-out, 8ft interior doors, 10ft flat ceilings, private courtyard off dining room, huge owners suite w/en-suite bath including dual vanities, walk-in shower... and separate soaking tub, very large walk-in closet, there is a separate bedroom and full bath that is perfect for an in-law or guest suite. Well appointed backyard with fruit trees, grass area, paver walking paths and lounging area.

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