What’s Ahead For Mortgage Rates This Week – September 19, 2016

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

Retail Sales Slip as Consumer Prices Inch Up

Retail sales dipped into negative territory in August with a reading of -0.30 percent as compared to expectations of -0.10 percent and July’s reading of +0.10 percent. Retail sales excluding auto sales were better at +0.30 percent. Analysts expected a reading of +0.20 percent based on July’s reading of -0.40 percent. August’s negative reading for retail sales was the first negative report since March.

Inflation fared better than retail sales with August’s Consumer Price Index reading at 0.20 percent. Analysts expected a reading of 0.10 percent; July’s reading was flat. Core Consumer Price Index readings for August are less volatile, as the Core CPI does not include readings for food and energy costs. August’s Core CPI reading was 0.30 percent. A reading of 0.20 percent was expected; July’s reading was 0.10 percent. It appears that inflation is creeping upward, but remains well below the Fed’s target reading of 2.0 percent.

Mortgage Rates, New Jobless Claims Rise

Freddie Mac reported higher mortgage rates across the board last week. The average rate for a 30-year fixed rate mortgage rose six basis points to 3.50 percent; the average rate for a 15-year fixed rate mortgage rose one basis point to 2.76 percent and the average rate for a 5/1 adjustable rate mortgage rose one basis point to an average of 2.82 percent. Average discount points were 0.50 for 30 and 15-year fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Low mortgage rates have helped home buyers, especially first-time and moderate income buyers, meet affordability challenges. Home prices have risen due to low numbers of available homes and high demand for homes. If mortgage rates continue to rise, fewer buyers will be able to qualify for mortgages and or afford asking prices for available homes.

Next week’s meeting of the Fed’s Federal Open Market Committee is expected to bring news of a Fed decision on raising the target federal funds rate. If the Fed raises its rate, consumer interest rates for mortgages, vehicles and other goods can be expected to increase as well.

Whats Ahead

This week’s economic news includes the NAHB Housing Market Index, Commerce Department reports on housing starts and building permits issued and a Fed Statement at the conclusion of its Federal Open Market Committee meeting on Wednesday. Fed Chair Janet Yellen is also slated to give a press conference after the FOMC statement. The National Association of Realtors will also release a report on sales of previously owned homes.

Click Here to See What Your Home is Worth

2138 W Red Fox Road Phoenix, AZ 85085

$1,000,000
7 Beds
5 Baths
4,105 SqFt
Status Active
MLS # 6657730
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living in this stunning 7-bedroom, 5-bathroom masterpiece with an OFFICE & LOFT, nestled in a prestigious GATED community. Just STEPS AWAY from the state-of-the-art Fireside COMMUNITY CENTER, this home boasts TWO full bed/baths DOWNSTAIRS & FOUR additional bedrooms plus a primary suite upstairs. Indulge in the fully UPGRADED chef's kitchen, designer walk-in pantry, gas stove, built-in refrigerator, and butler's pantry, all flowing into a spacious living area with surround sound. The OVERSIZED LOT transforms your backyard into a resort-like oasis with a HEATED POOL, SPA, built-in bar, BBQ, shaded patio, and grassy play area. Perfectly situated near Norterra's shops, dining, entertainment, and major highways. Enjoy exclusive community amenities like a GYM, pool, spa, rock climbing wall, tennis courts, and play parks. Moments from Sonoran Desert Vistas Trailhead, ideal for hiking and outdoor adventures! Forget building newthis is move-in ready. When would be a good time for you to see this exceptional home? Make a plan to see today!

3964 S Columbus Drive Gilbert, AZ 85297

$1,000,000
5 Beds
4.5 Baths
3,511 SqFt
Status Active
MLS # 6711092
Property Type Single Family Residence
Price Type --
*** PRICE DROP of $150K*** Welcome to GATED Whispering Rock, where luxury and comfort blend seamlessly in this stunning single-level home. Boasting impeccable upgrades throughout including a pool and ramada. This residence is the epitome of sophistication and style. Step inside to discover a spacious and elegant master suite, accompanied by three generously sized guest bedrooms. The open-concept great room floor plan showcases an exquisite kitchen, featuring gas cooking, stainless steel appliances, high-end granite countertops, and gorgeous flooring. Master bedroom has his and her closet. Jack and jill bathroom for the 2nd guest bedrooms. Tesla / EV charging and courtyard near entry is special and ready for the EV. Designed for effortless living, the home requires minimal maintenance, allowing you to fully enjoy the abundant amenities. Outside, you'll find a large covered patio perfect for entertaining, a putting green, and a sparkling pool. Explore the stunning photos and detailed floor plan, and envision yourself living in this extraordinary home. Welcome to your dream home in Whispering Rock!

1330 E Lynx Way Chandler, AZ 85249

$1,000,000
5 Beds
3.5 Baths
4,041 SqFt
Status Active
MLS # 6720736
Property Type Single Family Residence
Price Type --
Discover your dream investment property in Southeast Chandler. This pristine 5-bedroom, 3.5-bath home boasts a 4,041 sq. ft. interior with new updates, including a roof, two HVACs, granite/quartz countertops and more. Has an oversized private pool, hot tub, lush backyard with a secret garden, a 3-car garage, RV gate, and top-notch interior finishes. Located one block from San Tan K-8 and Quail Run Park. - Long term tenant in place

13833 W Bloomington Street Litchfield Park, AZ 85340

$1,000,000
4 Beds
3.5 Baths
3,373 SqFt
Status Active
MLS # 6749951
Property Type Single Family Residence
Price Type --
PRICE IMPROVEMENT! Discover contemporary elegance in the gated Sunset Terrace, just minutes from the Wigwam Resort. This stunning home showcases exceptional design, curb appeal, and a private backyard oasis. Enter through the iron-gated entry into a serene courtyard with a casita suite, complete with a mini bar, full bath, and room for a king-sized bed. The Great Room features a soaring beamed ceiling and a striking custom gas mirrored fireplace. The gourmet kitchen offers custom cabinetry, granite countertops, high-end appliances, and walk-in pantry. The luxurious owner's suite has a bath with an enormous shower and dual custom closets. Outside, enjoy the heated pool, lush landscaping, and oversized 3-car split garage. Request the full list of home improvements!

907 W Restin Road Phoenix, AZ 85086

$1,000,000
4 Beds
3 Baths
2,573 SqFt
Status Active
MLS # 6741259
Property Type Single Family Residence
Price Type --
Located on private street, this custom home was designed for comfort! Formal living and dining room features three way gas fireplace great for entertaining. Large kitchen has island, granite countertops and ample storage open to dining area and family room with built in entertainment center. Split floor plan with large master suite with private access to back yard large walk-in closet and spacious bathroom. Screened in patio looks out to spectacular back yard with large pool and pool house as well as custom bbq and fire pit. Four car garage has tandem bay for all your toys or great for workshop. Block wall surrounds property and separates large area of lot to keep your animals and toys! Minutes from schools, close to shopping, restaurants and trails.

42644 N Schnepf Road San Tan Valley, AZ 85140

$1,000,000 - 4Br/3Ba -  for Sale in Correction Queen Creek Ranchos, San Tan Valley
Open House
New
$1,000,000
4 Beds
3 Baths
2,153 SqFt
Status Active
MLS # 6762521
Property Type Single Family Residence
Price Type --
Welcome to your equestrian retreat! Nestled on a sprawling 3.3-acre lot with horse privileges, this expansive property has it all! Upon arrival, you'll appreciate the ample parking options, perfect for accommodating guests or storing recreational vehicles. Inside, you'll find a light-filled great room, wood-look flooring, and a sizable den for an office or creative space. The well-equipped kitchen is ready for your culinary adventures, boasting SS appliances, generous counter space, and ample wood cabinetry. A versatile bonus room adds even more potential, whether for a guest home, gym, hobby room, or additional living area! Discover a main bedroom featuring private backyard access and an ensuite with a jetted tub, two vanities, and a walk-in closet. Outside, relax under the covered patio or on the adorable balcony while gazing at the stunning mountains. You will love the horse corrals and arena! The possibilities are endless with this spacious and serene property!

26522 S Tangelo Avenue Queen Creek, AZ 85142

$1,000,000 - 4Br/3Ba -  for Sale in Chandler Heights Citrus Tr Unit 3626, Queen Creek
Open House
$1,000,000
4 Beds
2.5 Baths
2,643 SqFt
Status Active
MLS # 6736564
Property Type Single Family Residence
Price Type --
You have to see this one! Perfect for contractors trucks and trailer, equine and animal lovers or maybe you simply want elbow room. 4 Bedrooms, 2.5 baths and an attached three car garage. County Island with Cox Internet, flood irrigation, No HOA, 1+ Acre with views of the San Tan Mountains! Your new home has been meticulously maintained and has all the right touches added for modern comfort including temperature control. Your heat pump and two zone AC is on a programmable thermostat making utility bills low and your comfort high. A formal dining room meets you off the entry and on your left you have the 4th bedroom which makes an amazing office. 9'+ flat ceilings make this home feel much bigger than it's 2643 square feet Your kitchen has a spacious dining area big enough for a large farm table. A walk-in pantry is perfect for storage. Additional counter top space plus your kitchen island makes food prep a breeze. Beautiful Granite countertops and knotty alder cabinetry give your home a warm inviting feel. Family dinners and holiday parties are easy and enjoyable with your double oven, high-efficiency dishwasher and built-in microwave. Your homes appliances and pipes are also protected by a water softener and you can safely drink the Arizona water from your own RO system. Your great room is comfortable with wood plantation shutters, high potshelves to display your art and treasures and a beautiful, new stackstone, floor-to-ceiling fireplace that is fueled by clean burning Propane. A large Propane tank is included. Your new fireplace is on a remote control so you can control the ambiance from anywhere. The great room also has a wetbar complete with a beverage/wine fridge. A half-bath has easy access from the kitchen or the great room and a full capacity washer and dryer make your separate laundry room complete. The Master Bedroom is oversized and has his and hers walk-in closets and an amazing en suite bath with double vanity, a huge jetted tub, separate water closet and stunning glass tile shower. Step outside onto your wraparound covered porch and enjoy the view. It's a great place to hang out and watch the horses. All of this is situated on 1.118 acres of land. Your property includes many shade trees. Lemon, orange, tangelo, pistache and oak trees that are easy to water with flood irrigation. Being located very close to the San Tan Mountains means plenty of trail riding and amazing views from anywhere on your new property. For the equine lover, your horse area features a large riding arena, a 2-stall shedrow barn with a tack/feedroom that has water, cooling misters and electricity. It has its own electrical panel. In addition to the shedrow barn is a separate covered stall that would be great for hay storage or the current owners use it as a third covered stall for their horses. The new 20' x 60' shade structure was added in 2023 and is situated so you can park your trucks, trailers and toys in the shade and you can also use it as an open corral or you can fence it to make additional stalls. This makes a great RV pad and already has an electrical connection. This area is covered by a camera that will stay so you can watch your property and your animals from the comfort of your home. Nervous about backing a trailer? Don't be. Your new property is located on a corner lot and allows you to pull through one gate and out the other. Hay delivery and loading horses is a breeze with this setup. A separate shed/tack room is situated outside the horse area and is perfect for grooming and saddling up. Time to relax? Your 75' Pebble Tec pool was added in 2020 and has an in-floor self-cleaning system and amazing views of the San Tan Mountains. Enjoy a cool beverage surrounded by lush, tropical landscaping with mountain views and watch your horses from your private oasis. It doesn't get any better than this! Your pool is fully fenced to protect your family members, pups, and horses. Your property has recently been surrounded by a block wall to keep you and your animals safe and secure. This brings added privacy to your property as well. If you enjoy holiday lights, the sellers have electrical plugs in the front by the eves for easy lights and decorations. Flood irrigation is through Chandler Heights Citrus and one great feature of this property is the fact that it has Cox Internet/cable. It can cost thousands of dollars to have Cox Internet/cable brought to your home when located on a County Island. The seller has already setup Cox to this property. This truly is an amazing horse property and is close to everything. Ride off property, in your own arena or trailer to the San Tan Mountains in 14 minutes. Queen Creek Marketplace is great for shopping, casual and fine dining and is only 14 minutes and San Tan Village is a short 20 minute drive to the north. Mesa Gateway Airport and Gilbert Mercy Hospital are minutes away. This one has it all. Watch the video and view additional amenities in the documents tab.

1725 S Ax Handle Way Flagstaff, AZ 86001

$999,999
4 Beds
2.5 Baths
2,554 SqFt
Status Active
MLS # 6731573
Property Type Single Family Residence
Price Type --
Imagine your dream home nestled in the beautiful ponderosa pines on a quiet cul de sac in Boulder Pointe, one of Flagstaff's most desired communities. As you drive toward the home and take in its curb appeal, you feel your excitement heighten. It's majestic stature, rock accents, three car garage and meticulously manicured yard take your breath away! Without entering you know this is the perfect haven for family, friends, immersing yourself in Flagstaff's stunning natural beauty and living your best life. When you walk through this home, it's everything you hoped. The lower level offers two living areas. One living area is a grand greatroom/dining area. The other is a large, light-filled family room off the kitchen with a cozy fireplace looking into the back yard, creating the open space you love for cooking, gathering and enjoying time together. The kitchen is magnificent! Counters for miles, newer stainless appliances, natural light, and a separate bar overlooking the family room, inviting you to breakfast with the family or immediately start serving cocktails. Step into the back yard. The majestic pines lead you to a lovingly and carefully created natural haven. Crafted with stamped concrete and synthetic grass, you can play bocce ball, let your dogs happily run, grill, gather and hot tub in a stunning and practically maintenance free atmosphere. Enjoy your family or invite the neighbors. There is room for everyone! Upstairs, find your spacious primary suite with a beautifully finished executive bathroom suite, three large bedrooms and a full bathroom. With a three car garage, central air, and a fenced yard with a potential RV gate, this home embodies the essence of mountain living. Inspection has been completed, home is in great shape! Boulder Pointe is one of Flagstaff's most desired communities. Located in the SoutWest of Flagstaff, it offers mostly single family homes that are considered newer for Flagstaff, large fenced yards, front lawns, and pride of ownership. Residents who live in Boulder Pointe relate the sense of friendship and community neighbors share. It is close to all of our West Side Amenities and only two miles from downtown Flagstaff.

Flagstaff AZ 86005

$999,999
4 Beds
4 Baths
3,307 SqFt
Status Active
MLS # 6730014
Property Type Single Family Residence
Price Type --
Welcome to an extraordinary mountain paradise with a beautiful southwest flare nestled in the pines on a quiet, private cul de sac. At 3307 sf, this is the most spacious home in University Highlands. With 4 bedrooms, 4 baths, a formal dining room, den and office, this is an inviting retreat for family and friends. The open greatroom & chef's kitchen with log beams, flagstone-accented wood stove, saltillo tile and windows galore radiate style & charm. Gather in the kitchen with generous counter space, stainless appliances, and a breakfast nook surrounded by windows and trees. The large primary on the main shares a 2-way fireplace with a private room with its own deck- a fabulous office or nursery. The additional den on the main level makes single living easy! Upstairs find a large loft, the main level makes single-level living easy! Upstairs, find a large loft with a wetbar - wonderful as a playroom or a second living area - three bedrooms and a full bath. There is also an additional room that can be a 5th bedroom, yoga room or office. Quiet, private, spacious, & gorgeous views of the pines, this unique home will delight you for mountain living and entertaining. No HOA. Inspection completed! University Highlands is a highly desired Flagstaff neighborhood. Located on the west side of Flagstaff it is close to NAU, many supermarkets, all of our west side amenities, the urban trail system and Lake Mary Road. University Highlands' most outstanding characteristics are its mature ponderosa pines, fenced, treed yards, pride of ownership and family-friendly community. De Miguel Elementary school is also located in University Heights, making this a popular area for families with children.

18266 N 68th Drive Glendale, AZ 85308

$999,999
5 Beds
4.5 Baths
3,443 SqFt
Status Active
MLS # 6735779
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION, LOCATION. Close to Loop 101, The New PCH Hospital & Arrowhead Hospital. Arrowhead Mall & Peoria Sports/Center as well as nearby local bus stops. Property is setup for Families and or the person who Loves to Entertain and the person with Lots of Toys and RV's. In 2020 3 new A/C units were installed. Solar was purchased in 2017 and is Pre-Paid (Paid in Full) 20-Year Lease. There is 13 years left of approx. 40,000Kwh of free electricity a year. Property is located on a Corner with 2-RV gates. The RV yard has an RV set up with 50amp Electric and Dump location. The RV Garage Approx. size is 40LX40WX20H and it has a half bath inside. This home has a quest house attached with interior access and its own private entrance, along with a full kitchen, dining/living room.

17346 W Wildwood Street Surprise, AZ 85388

$999,999
3 Beds
3.5 Baths
2,489 SqFt
Status Active
MLS # 6703955
Property Type Single Family Residence
Price Type --
''Matthews'' model on hole #10 at the Sterling Grove Golf & Country Club. Extra large backyard. Direct view of the White Tank Mountains & SUNSETS. No neighbor on one side. No neighbor directly across the fairway. Pool + gas fire pit. Primo location, near the amenities. Located at the quiet end of a cul-de-sac. Split floor plan. Office/BONUS ROOM. Two-car + one-car garage. 55+ section.

17817 E Cindercone Road Rio Verde, AZ 85263

$999,999
2 Beds
2.5 Baths
2,186 SqFt
Status Active
MLS # 6741191
Property Type Single Family Residence
Price Type --
Nestled in the prestigious and highly sought-after community of Trilogy at Verde River, this exquisite residence offers unparalleled privacy and serenity. Positioned with no neighbors behind, this home boasts breathtaking mountain views that promise an ever-changing panorama of natural beauty along with a variety of birds and wildlife. The open and airy layout, with 10' ceilings and elegant high end engineered wood and tile & flooring throughout, flows seamlessly from room to room, bathed in natural light and framed by stunning vistas. The heart of the home is a gourmet kitchen, perfect for the culinary enthusiast, featuring generous counter space, and beautiful cabinetry. It opens to a spacious living area, making it ideal for entertaining or quiet evenings at home. Step outside to your own backyard oasis featuring a large travertine tile patio with remote control sunscreens, lush landscape, serene fountain, gas )firepit, and a secluded desert scape, perfect for outdoor gatherings and enjoying those incredible mountain views, sunrises, and sunsets. The 3-car tandem garage ensures plenty of space for vehicles and storage with a state-of-the-art water softener and RO system. Located in a community known for its active lifestyle and amenities including, resort and fitness pool, indoor and outdoor dining, spa, salon, fitness programs, 18 hole golf course, shops, concerts, and a neighborly atmosphere, this property is more than a home; it's a lifestyle. This is your must-see dream home!

Leave a Reply

Your email address will not be published.