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.

What‘s 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.

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19614 N 264th Avenue Buckeye, AZ 85396

$960,000

2 Beds

2.5 Baths

2,916 SqFt

Status Active Under Contract

MLS # 6749418

Property Type Single Family Residence

Price Type --

🌟 Introducing a Luxurious Retreat on Copper Canyon Golf Course 🏌️‍♂️ Step into the epitome of luxury living with this stunning 2900 sq ft residence situated on the #1 Lakes course. Perfectly designed for the discerning homeowner, this exquisite property boasts unparalleled features that redefine modern elegance. 🔥 Features Include: - Three dual fuel ovens and gas range and dueling dishwashers for the culinary enthusiast 🍳 - A sophisticated bar area for entertaining in style 🥂 - Spacious three-car garage for all your vehicles 🚗 - Exclusively age-restricted community for peace and tranquility 🌿 - Gigantic island perfect for hosting gatherings and creating culinary masterpieces 🍽️ - Cozy den for relaxation and unwinding after a long day - Luxurious guest bedroom for visiting family and friends - Unparalleled view of Lakes #1 and glorious sunsets every night - Fully furnished! Indulge in the ultimate lifestyle of comfort and sophistication. Experience a new level of living where every detail exudes elegance and refinement. Your dream home awaits you in Sun City Festival - take a private tour today!

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1842 E Kaibab Drive Chandler, AZ 85249

$960,000

4 Beds

3.5 Baths

3,862 SqFt

Status Active

MLS # 6754804

Property Type Single Family Residence

Price Type --

Beautiful home in the gated community of North Barrington! Featuring a 3-car gar. w/epoxy flooring & built-in cabinets for ample storage. All new ext./int. paint, wood shutters on most windows & recessed lighting in most rooms. Wonderful layout provides bright & open living spaces thru-out. Chef's kitchen equipped w/all new appl., an island & breakfast bar, ample cabinet & counter space, gas cooktop & wall oven. Laundry room has built-in cabinets for addt'l storage. Enormous master suite has a spa-like bathroom boasting his & hers vanities w/an extra vanity, large soaking tub, huge walk-in shower & a vast, special built, walk-in closet! Step out back onto oversized covered patio w/ceiling fans, overlooking your very own oasis featuring a spa & pool w/water feature & mini putting green!

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8631 E Jackrabbit Road Scottsdale, AZ 85250

$960,000

4 Beds

2 Baths

1,810 SqFt

Status Active

MLS # 6742323

Property Type Single Family Residence

Price Type --

Feast your eyes on this jaw-droppingly modern remodel! Step into an open floor plan flaunting sleek, brand-new flooring throughout. The kitchen is a showstopper with its dazzling quartz countertops and top-of-the-line stainless steel appliances—ideal for hosting epic gatherings or whipping up gourmet meals. Relax or entertain in style with a low-maintenance backyard, complete with a sparkling pool that's perfect for cooling off on hot days. Located just minutes from Fashion Square, Old Town, and the Salt River Fields, this spot offers unbeatable convenience and vibrant living!

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3859 N Whispering Pine Road Pine, AZ 85544

$960,000

5 Beds

3 Baths

2,237 SqFt

Status Active

MLS # 6753291

Property Type Single Family Residence

Price Type --

MAJESTIC home has ''tranquility plus'' in SECLUDED HOMESITES, indeed, and in this heavenly neighborhood w/tall pines and scenic ELK. 3 bdrm, 2bth in main house and 2bdrm, 1 bth in detached guest house. ENTER the roomy foyer and step into natural lite that enhances the fabulous impressive Great Room! Dining room within, eludes spacious and open ambiance. Kitchen has updated appliances, extra built in storage cabinets, roll out drawers and shelves for china, silver & crystal. Staircase with stair lift, screened in porch for out door dining or sleeping porch. covered dog run and doggie door! Built ins every where for books and art artifacts. Matching deck wraps around home. Peace and euphoria envelope this beautiful forested setting. Furnishings from Italy encompass the rooms an are available thru negotiations or separate bill of sale. Large 2 car has work benches and shelving. Italian giant pots were shipped from Italy are driveway decor, stone fountain in front give importance to this lovely year around home on 1 acre, or ARBO is happening in this area! NO HOA, YES HORSES, hiking trails galore! A beautiful home of gracious past world design and a perfectly beautiful neighborhood!

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3114 N Tam Oshanter Drive Flagstaff, AZ 86004

$960,000

4 Beds

2.5 Baths

2,810 SqFt

Status Active

MLS # 6739314

Property Type Single Family Residence

Price Type --

If you are looking for a home that is spacious and updated, this is it! NO HOA! Single Level, this home is welcoming from the moment you step in the front door. A large living room with Ponderosa just outside the large windows and a Malpais fireplace exude mountain style. A formal dining room is adjacent and leads to the spacious Kitchen with Hickory cabinetry and extra space for a family room or informal dining area. The Powder Room and Laundry are nearest the direct entry from the large 2 car garage. The garage also has storage cabinets. Numerous skylights throughout the home.elevate the feeling of being in nature. Two bedrooms with bay windows can accommodate king-sized beds, and a third bedroom could be a wonderful suite with room for a sitting area. Of the third bedroom, a bonus room could be an office, playroom, etc. With its own entry, this could be converted to an in-law suite. But wait -there's more! The Primary Suite has a walk-in closet, access to the rear deck where a salt water hot tub beckons and a remodeled en suite bath with dual sinks, a jetted tub, separate shower, and a custom stained-glass mountain scene. Outside, there's everything you can think of - Full length decks on the front and back of the home enhance the outdoor space. Not 1 but 2 sheds, one with electric service (maybe a pop up bar?), a generator, and a concrete pad for 2 RVs to park behind a gate. Nicely landscaped with low maintenance turf, it's heaven in the mountains. And there's more! The front yard has views of the mountains, another deck and artificial turf. The driveway is accented with bear tracks, for a fun touch. Quiet location on a street that ends in a cul de sac, traffic is light. Perimeter is fenced in the back yard. A delightful home for contemplating future snowfalls, beautiful fall colors and fresh mountain air springs and summers. There is no HOA with this property, short term rentals are allowed. Carpeting was installed throughout the home in 2023. The Water Heater was replaced in 2024. The Roof was replaced in 2013. Three Televisions, 2 wall mounted mirrors, 1 wall mounted picture frame, generator and hot tub all convey with purchase. External Cameras do record movement and sound.

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41339 N Club Pointe Drive Phoenix, AZ 85086

$960,000

3 Beds

3.5 Baths

3,437 SqFt

Status Active

MLS # 6715097

Property Type Single Family Residence

Price Type --

Welcome to the ultimate Arizona luxury living at Anthem Golf and Country Club. Nestled on a premium lot with stunning mountain and desert vistas, this extraordinary residence spans 3,437 sq. ft. and offers an unparalleled living experience. Step inside to discover a spacious, open floor plan where formal living and dining areas seamlessly connect to a gourmet kitchen and family room. Ideal for both intimate gatherings and grand celebrations, the kitchen features new granite countertops, an oversized island, stainless steel appliances including a new 5-burner gas cooktop, and double ovens. With soaring ceilings and abundant natural light, the neutral palette throughout enhances the home's inviting ambiance. The luxurious primary suite is a true retreat, boasting a walk-in shower, soaking tub, dual vanities, and a generous closet. The split floor plan includes two additional bedrooms, each with access to a full hallway bath complete with an extended vanity and dual sinks. Outside, the expansive covered patio provides a serene escape, perfect for enjoying Arizona's year-round outdoor lifestyle. The property is conveniently located minutes from Anthem's amenities and attractions, offering both privacy and easy access to all that the community has to offer. This exceptional home seamlessly blends tranquility with sophistication, making it an ideal choice for those seeking a peaceful retreat or a stylish space for entertaining.

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2042 E Victor Road Gilbert, AZ 85296

$960,000

5 Beds

3 Baths

3,750 SqFt

Status Active

MLS # 6711981

Property Type Single Family Residence

Price Type --

Beautiful move in ready home with 5 bedrooms, 3 baths, a 4 bay garage (with room for 5), an awesome sports court and a pebble tech pool. The home has tile in all of the high traffic areas, 2 bedrooms on the first floor and the master on the 2nd floor with a balcony and custom shower. This wonderful home has a game room or den on the 2nd floor and a gas fireplace.

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6739 E Dreyfus Avenue Scottsdale, AZ 85254

Open House

$960,000

3 Beds

2 Baths

2,227 SqFt

Status Active

MLS # 6705068

Property Type Single Family Residence

Price Type --

Exceptional Sweetwater Corridor Property features beautiful finishes in the interior and an extraordinary outdoor area with Large Patio, Pool, Putting Green, Storage Shed, and parking for 2 vehicles in garage plus 8 more or large RV in high covered carport behind the private gate. Easy care stone flooring throughout home, minimal maintenance required in yard. Remodeled Kitchen and baths. New HVAC 10 months ago. No HOA. Some neighborhood new builds now up to $3 million! Five blocks from Scottsdale Rd, near the fab restaurants and shops of Kierland, Scottsdale Quarter and Promenade, but it feels a World Away in the heart of a residential area of traditional Scottsdale homes on large lots.

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4503 S Carbon -- Mesa, AZ 85212

$959,990

3 Beds

3.5 Baths

3,168 SqFt

Status Active

MLS # 6760800

Property Type Single Family Residence

Price Type --

Highly desired Charm floorplan. It is a Beautiful single level home with 12 foot vaulted ceiling in the great room and Kitchen and 90 degree glass door that brings you out to the oversized back yard space. This home will have white cabinets and quartz countertops throughout the kitchen and bathrooms. Luxury Vinyl planks throughout the entire home. No Carpet. 42 inch built in Fridge and GE Monogram appliances make the kitchen any entertainers dream. The Primary Bath is also a show stopper with gorgeous tiled shower and free standing tub.

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21811 N 59th Street Phoenix, AZ 85054

$959,900

4 Beds

3 Baths

1,967 SqFt

Status Active

MLS # 6752622

Property Type Single Family Residence

Price Type --

Builder close out of a successful community in the coveted community of Talinn at Desert Ridge. This last home is on a corner C-D-S home site. 100% wood look tile throughout, quartz kitchen counters with thick edge, soft close cabinet hinges and drawers, tile backsplash to ceiling, built in appliances, refrigerator, glass paned pantry door, farm front sink, floating bathroom vanities with LED under lighting, freestanding tub, framed bathroom mirrors. Home theater and security prewires. Laundry room cabinets with built in sink, framed mirrors in baths. So many nice touches throughout the home! Huge wall of glass opens to patio and backyard. Gated community with fitness center. Fall occupancy. Last Blandford Home being built in Talinn. Taxes est. Pictures are of former model home. Hurry!

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4237 E 4th Avenue Apache Junction, AZ 85119

$959,900

3 Beds

3.5 Baths

3,093 SqFt

Status Active

MLS # 6724740

Property Type Single Family Residence

Price Type --

SELLER OFFERING $15,000 IN CONCESSIONS to lower loan rate or closing costs with full price offer! 360 degree mountain views and city lights too from this stunning custom modern farmhouse, with the majestic Superstitions taking center stage! Luxury and sophisticated elegance meet the laid back design of the farm house! 1.36 acres for your horses or toys with NO HOAs! House sits on a tiered corner lot with room for RV garage, pool and horses. The house features 488 sq ft of covered, travertine front porch and back lanai for enjoying AZ outdoor living. approx. 150 sq ft flex room with AC off of the garage. Perfect for workout room, crafts or workshop. Built with energy efficiency and convenience in mind; full depth spray foam insulation on all outside walls and under the roof, dual pane low E windows, prewired for cable TV and security system, circulating hot water pump and water softener loop. The 3 car epoxy garage is extra deep to fit a full size pickup or SUV. There is a 3rd bedroom casita with private entrance and master retreat has a private entrance to the covered lanai. Every room has a mountain view. All bedrooms are en-suite with walk in closets. Master retreat with sexy tiled shower, dual vanities and lg walk-in closet. Custom high end Amish cabinetry and tiled bathrooms. Laundry room can dbl as butler's kitchen. The lg office, in case you work from home, was designed to be a 4th BR if needed. The open concept w/gorgeous kitchen w/prof gas range and beverage cooler is perfect for being close to the action and entertaining where everyone can gather around the huge center island. Gorgeous faux wood beams and cozy FP in the GR where you will snuggle in and spend time making memories. Wall of glass in DR and GR lead to the lanai. Imagine yourself sitting out there having a coffee or cocktail, taking in the views. Come! Start making memories in your beautiful new home. Be sure to check out the Amenities sheet in docs. Note: GPS may take you Boyd St off of Broadway which is a narrow dirt road. Come in off of Roadrunner.

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7700 E Gainey Ranch Road Unit 147 Scottsdale, AZ 85258

$959,900

2 Beds

2 Baths

1,795 SqFt

Status Active

MLS # 6725820

Property Type Single Family Residence

Price Type --

Spectacular golf course lot in the neighborhood of Gainey Ranch with this spacious 2-bed plus den property. Step inside to find an inviting interior with wood floors and charming features including pre-wired surround sound, recessed lighting, spacious living area enhanced by tasteful wall niches. Kitchen is a chef's delight, boasting pristine white cabinets, granite counters, stainless steel appliances including wall ovens, a pantry, and a breakfast bar. Serene main bedroom offers direct backyard access, a walk-in closet, and an ensuite equipped with dual sinks and a relaxing jetted tub. Den for an office. Enjoy the peaceful ambiance of a serene backyard featuring a covered patio and lush, shade tree. Experience comfort and elegance in this delightful townhome, your new haven await

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