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.

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40912 N Club Pointe Drive Anthem, AZ 85086

$940,000 - 4Br/4Ba -  for Sale in Anthem Unit 36, Anthem
Open House
$940,000
4 Beds
3.5 Baths
3,304 SqFt
Status Active
MLS # 6754511
Property Type Single Family Residence
Price Type --
Welcome Home! There is so much to appreciate about this spectacular HOME in Anthem Golf & Country Club. Elegant stone flooring throughout adds charm and appeal. The kitchen features granite counters, backsplash, pendant lighting, breakfast bar, butler's pantry, stainless steel appliances & gas stove. Open family room with fireplace is perfect for relaxing or entertaining. Separate office for a quite place to work . Spacious owner's suite is a retreat with a slider to the outdoors, double sinks, walk-in shower, and a huge walk-in closet. The updated en-suite bathroom is a luxurious touch. Step outside onto the extended stone patio and enjoy view of Daisy Mountain and beautiful sunsets. Situated next to a desert wash and backs to the golf course. Low maintenance landscaping in a tranquil setting. Don't miss this opportunity to make this place HOME! Experience Exceptional living in Anthem Country Club featuring two of everything; Clubhouses with dining, championship golf courses, fitness centers, tennis facilities, swimming pools and pickleball courts.

7302 N Via De La Montana -- Scottsdale, AZ 85258

$939,999
3 Beds
2 Baths
2,293 SqFt
Status Active
MLS # 6740164
Property Type Townhouse
Price Type --
Welcome to your Mid-Century, dream residence in the coveted Scottsdale Sands community by renowned builder E.T. Wright! This exquisitely remodeled townhome offers a seamless blend of modern luxury and comfort, perfectly positioned on a prime corner lot. Bathed in natural light and directly opposite the community's year-round heated pool, this home promises an unparalleled living experience. Features include: Spacious Backyard - Revel in your private oasis featuring a travertine patio and professional landscaping by Moon Valley, completed in 2022. Ideal for entertaining or enjoying serene moments of relaxation. Modern Upgrades New Rooftop HVAC System: Installed in 2021, ensuring optimal climate control and comfort. Energy-Efficient Tankless Water Heater: Providing endless hot water on demand. Elegant Stone Tile Wall: Adding a touch of sophistication to the living area. Luxurious Master Suite: Extra-Large Master Bathroom: Boasting custom-designed closets with ample shelving and hanging space, catering to all your storage needs. Community Amenities: Heated Community Pool: Perfect for year-round swimming. RV Lot: Offering convenient storage for recreational vehicles. Private Community Back Gate: Direct access to Salt River Fields, enhancing your outdoor experiences. Prime Location: Enjoy the ease of walkable and bike-friendly paths. Close proximity to an array of restaurants, shopping options including Walgreens, and fitness facilities like LA Fitness. Golf enthusiasts will appreciate the nearby world-class golf courses. Shop till you drop at the renowned Fashion Square Mall, just a short drive away. Sands Scottsdale features elegant, modern-inspired townhomes by E.T. Wright. Known for their prime location and timeless architecture, none compare to this sophisticated renovation in terms of beauty and sublime spaces! This exceptional townhome presents a rare opportunity to indulge in modern amenities, thoughtful design, and an unbeatable location. Don't miss your chance to own a piece of paradise in Scottsdale Sands.

19679 E Estrella Road Queen Creek, AZ 85142

$939,995
4 Beds
3 Baths
2,890 SqFt
Status Active
MLS # 6731757
Property Type Single Family Residence
Price Type --
The ranch-style Julia plan greets guests with a charming covered front porch. Once inside, an extended entry leads to an expansive gourmet kitchen with a center extended island, large walk-in pantry, breakfast nook and great room for entertaining. You'll also appreciate the flex room and a formal dining room with adjacent covered courtyard off to the side of the home. This plan offers three additional bedrooms and two guest baths. This beautiful home features many upgrades including the multi-slide doors in the great room,10' ceilings, tile in all traffic areas and more!

21430 W Meadowbrook Avenue Buckeye, AZ 85396

$939,756
5 Beds
3.5 Baths
3,728 SqFt
Status Active
MLS # 6731691
Property Type Single Family Residence
Price Type --
This stunning new construction home in the gated Highlands at Verrado offers everything you've been dreaming of, including a luxurious OWNER'S SUITE ON THE MAIN FLOOR! Experience the perfect blend of elegance and comfort with sophisticated two-tone paint, a tankless water heater, and beautiful quartz countertops throughout. Soaring 12' ceilings in the kitchen, great room, and primary bedroom create an open, airy feel, while a 16' wall of windows provides breathtaking views of the White Tank Mountains. Boasting 5 spacious bedrooms, 3.5 bathrooms, and an expansive upstairs loft, this residence is designed to cater to a variety of lifestyles. Nestled in the highly sought-after Verrado neighborhood, it offers both style and functionality. Plus, enjoy peace of mind with a 10-year warranty.

3211 S Hawthorn Court Gold Canyon, AZ 85118

$939,750 - 3Br/3Ba -  for Sale in Club Villas At Superstition Foothills, Gold Canyon
Open House
$939,750
3 Beds
3 Baths
2,615 SqFt
Status Active
MLS # 6011080
Property Type Single Family Residence
Price Type --
$100,000 GOLF INITIATION FEE INCLUDED WITH SALE - Welcome to the ultimate dream home located in the prestigious and exclusive guard-gated community at the base of the awe-inspiring Superstition Mountains. Get ready to live in unparalleled luxury and be surrounded by privacy, serenity, and breathtaking views. This stunning 3 bed, 3 bath home boasts an open concept design, perfect for entertaining and creating timeless memories. The spacious kitchen is a chef's dream, complete with quartz countertops, top-of-the-line Kitchen Aid appliances (including a gourmet refrigerator), and upgraded soft-close Mediterranean white cabinets and drawers. The great room, dining area, and kitchen flow seamlessly together, creating a harmonious living space. The split floor plan offers privacy, with the master suite located on one side of the home and the additional bedrooms on the other. The attention to detail is evident throughout, with 5 baseboards and vaulted ceilings adorned with hollow core beams. Curl up in front of the fireplace on those cooler nights, creating a cozy and inviting atmosphere. The master bath is a true retreat, featuring a master grand shower and a free-standing tub, perfect for unwinding after a long day. Step outside and experience the ultimate outdoor living. This home boasts two patios, one off the main living area and another off the master bedroom. The main patio is perfect for gathering, with a gas drop for a BBQ and plenty of space for outdoor furniture. The patio and backyard feature travertine pavers, creating a luxurious and elegant outdoor space. The backyard is beautifully landscaped with synthetic grass, providing a low-maintenance oasis for relaxation and enjoyment. With the included $100,000 golf initiation fee, you will gain access to an exclusive world of leisure right at your fingertips. This remarkable membership grants you the privilege to enjoy not just one, but two extraordinary, championship-level golf courses designed by the legendary Nicklaus himself. Alongside these prestigious fairways, you will discover a glistening outdoor pool and hot tub, a state-of-the-art fitness center, and an endless array of exciting events for you and your esteemed neighbors throughout the year. Imagine yourself perfecting your swing on the meticulously manicured greens, followed by a refreshing plunge into the community pool, and then ending the day in bliss at the private clubhouse restaurant or sophisticated cocktail lounge with your closest friends.

13642 W Buckskin Court Peoria, AZ 85383

$939,500
5 Beds
4 Baths
3,330 SqFt
Status Active
MLS # 6722494
Property Type Single Family Residence
Price Type --
PRICE DROPPED!! BRAND NEW '& READY FOR YOU! $20,000 towards closing costs with preferred lender! Nestled within the gates of ''The Retreat'', this exquisite home by Scott Communities boasts 5 Bedrooms +Den, 4 baths, and 3.5-car garage. Bask in Arizona's eternal sunshine on the expansive patio, accessible through multiple sliding glass doors. Revel in the opulent kitchen featuring contemporary wood cabinets, herringbone backsplash, and creamy white & taupe quartz. Equipped with two ovens, a gas cooktop, microwave drawer, oversized island, and walk-in pantry, this kitchen is a must! Luxuriate in the spa-like owner's bathroom with an oversized soaking tub, walk-in shower, and mosaic tile flooring. Matte black fixtures add a touch of sophistication throughout. Wood-look tile. Closing cost assistance available! A 10ft side gate ensures easy backyard access.

2544 W Muirfield Drive Anthem, AZ 85086

$939,000
3 Beds
2.5 Baths
2,661 SqFt
Status Active
MLS # 6742939
Property Type Single Family Residence
Price Type --
PRICELESS GOLF COURSE LOT WITH PANORAMIC VIEWS OF DAISY MOUNTAIN & THE SLEEPING INDIAN. Experience covered outdoor living with side yard patio dining with built-in BBQ & above ground spa. Private, one of a kind location, cul-de-sac lot with easy access to resident-only gate. Well maintained with new exterior paint, low view fence, beautifully landscaped backyard perfect for outdoor dining & relaxation. Spacious updated interior great room setting, significant primary closet space w/cabinets for maximum storage, custom office with built in furnishings. 3-car garage storage cabinets plus Cart & EV Chargers. Turn-key opportunity available including golf cart. Experience numerous Anthem Country Club & Community amenities & say this one is MY ANTHEM HOME.

18888 E Apricot Lane Queen Creek, AZ 85142

$939,000
4 Beds
3.5 Baths
3,543 SqFt
Status Active Under Contract
MLS # 6749178
Property Type Single Family Residence
Price Type --
Stunning home in the coveted lake community of Legado built just 3 years ago, this 4 bed 3.5 bath with a bonus/game room will not disappoint! Tucked into the back of the community, privacy is guaranteed as the backyard faces a quiet wash/walking path. Very few expenses were spared in the build process and is as turn key as a home can get. The formal dining could easily be converted to an office or 5th bedroom if desired.

12911 W Mayberry Trail Peoria, AZ 85383

$939,000
2 Beds
2 Baths
2,193 SqFt
Status Active
MLS # 6745523
Property Type Single Family Residence
Price Type --
Welcome to this one-of-a-kind Trilogy home, perfectly situated to offer stunning views of the 7th Green & incredible long mountain vistas from the south-facing backyard. From the moment you arrive, you'll be greeted by beautiful curb appeal featuring a paver driveway and elegant stone accents. A charming courtyard leads you to a meticulously crafted interior where no detail has been overlooked. The chef's kitchen is a masterpiece, equipped with top-of-the-line Bosch stainless steel gas appliances, a wine/beverage center, a dramatic granite slab with a designer backsplash, and stunning alder cabinetry. Outdoor living is a dream come true w/private heated pool, in-ground cleaners, & rock waterfall. Beyond the property, you'll enjoy resort-style living with a host of community amenities in Trilogy at Vistancia! Double doors open up to a sizeable den w/a built-in desk & bookshelves, ideal for an office. Finally, the wonderful backyard includes a covered patio, artificial turf, a sparkling blue pool, and a view fence overlooking the Community's lush golf course! The home of your dreams is here, hurry and act now!

11673 N 136th Street Unit 1022 Scottsdale, AZ 85259

$939,000 - 2Br/3Ba -  for Sale in Reserve Scottsdale Condominium, Scottsdale
Open House
$939,000
2 Beds
2.5 Baths
2,021 SqFt
Status Active
MLS # 6759270
Property Type Townhouse
Price Type --
LOCATION, LOCATION! A MUST SEE ''Nearly New'' Home Built 2023. MOUNTAIN VIEWS & $200,000+ in Upgrades make this Townhome a True Value! THE RESERVE SCOTTSDALE is a Very Private Gated Community at base of the McDowell Mountains. Entrance to this 2- bedroom + DEN, 2.5 Bath Villa is through a Private Gated Courtyard. It Features 4'' Plantation Shutters, 12 X 24 Pietra Italia Porcelain Flooring, A Gourmet BOSCH Kitchen W/ Quartz Counters & Island, Custom Alder Espresso Cabinetry. This Open Floorplan Also Features Private En-suites and a Front Den w/ Open Beam Ceilings that could be an Office or even a 3rd Bedroom. The Primary Bedroom is large with Private Exit to Patio & Open Wood Beam Ceiling. The Primary bath features a walk-in Tiled Shower, Quartz counters and a huge walk-in closet. Laundry has tons of Quality Storage Cabinets, A Sink, and Newer LG Washer and Gas Dryer. The 2- car Garage w/ Epoxy Flooring also has a Nova Water Conditioning System. Community Heated Pool and Spa and much more! Easy to Show and Priced Below Comps!

7171 W Quarter Horse Run Coolidge, AZ 85128

$938,999
5 Beds
4 Baths
3,955 SqFt
Status Active
MLS # 6713714
Property Type Single Family Residence
Price Type --
$20,000 worth of seller concessions being offered. Rates are too high use this to get the 2/1 buy down and saving Thousands. This over 1 acre stunning horse property includes paid off solar panels, sparkling pebble-tec salt water pool and expansive views along with the perfect space for both indoor and outdoor entertaining. Located on a quiet cul-de-sac, you will note immediate curb appeal with an expansive courtyard leading to your stunning oversized decorative arched front door. Upon entry you will enjoy the open floor plan of the foyer along with the formal living room and dining room. Enjoy the soaring ceilings and crown molding as the picture windows offer views of the backyard giving an airy feeling. The kitchen gets a chef's kiss with the matching Samsung black stainless steel appliances including a 5 burner propane stove, beautiful quartz countertops and family size butcher block island with seating. Soft close kitchen cabinets and drawers including a stand mixer lift make this a bakers paradise. Don't miss out on the walk-in pantry with custom electric shelf carousel and fully adjustable shelvings. Split floor plan along with a Master suite wing offers much needed privacy and respite after a busy day. With this layout you get it all including his and hers closets, a large master bath with a stand alone tub offering premium views and an open and spacious master bedroom with gorgeous plantation shutters. Ample room for the rest of the family with 4 additional oversized bedrooms, 2 full bathrooms and 1 3/4 bath means easy living for all. Upstairs you will find your oversized flex space big enough for a game room or additional oversized bedroom. Enjoy energy efficiency with this beautiful home with paid off solar panels, sun shades on the majority of the multi pane windows, new spray foam insulation throughout including the garage ceiling and dual zoned AC means you're comfortable without breaking the bank. If you enjoy outdoor living and room for all your furry friends then look no further. The large backyard with a beautiful curved pebble-tec saltwater pool has been impeccably maintained. Large seating area with ceiling fan, new turf and a large gazebo area ensure that you have every opportunity for star-gazing in your backyard oasis. On one side of the yard the horse lovers can enjoy plenty of space including 3 outdoor stalls, a walk in shade with water access near your large multi purpose barn with tack room, loft for storage and room for all the toys including an RV round out this very full package. Flex space on the far side of the yard has room for more outdoor pets and includes a chicken coop or use this space for the perfect garden and enjoy fresh veggies right from your backyard. This home truly offers the perfect blend of indoor/outdoor living in a quiet, small community just a short drive from I-10.

Show Low AZ 85901

$938,500
3 Beds
2 Baths
2,530 SqFt
Status Active
MLS # 6675048
Property Type Single Family Residence
Price Type --
As you drive up to the top of the curved stamped driveway onto the parking area you will realize this is like no other home. You will find this is a unique property like none other. Everywhere you look there are unbelievable views inside and out. A wine barrel waterfall with clover and flowers surrounding it, is peaceful and beautiful. Also there is a beautiful flower garden surrounded with a lighted split rail fence and seating to enjoy it. Everything is on automatic watering systems. Your own private hillside haven is ready for you, family, and friends to enjoy! This home is made for relaxation, breathtaking views, and peace of mind. Don't let this one slip away !!! Own Your Slice Of Heaven! Million dollar views! HILLSIDE GETAWAY. Breath taking views from every window! The large Master suite has his and her walk in closets and an attached ensuite that has separate sinks, shower and a Jacuzzi tub. PLUS APX 1874 sq ft underneath home which consists of apx 693 sq ft completely finished bonus/hobby room or whatever, you can even store your toys in there where they will be completely safe!! Then there is another apx 1,181 sq ft concreted sq ft for ample storage + a 3 car garage!! A tankless water heater, and all bedrooms have access to their own expansive decks, help round out the extras in this awesome home. Exterior offering concrete driveway, sidewalks...and so much more...This home may be purchased partially or fully furnished for an additional price.This home is set apart from others because it has unbelievable privacy, serenity and peacefulness. Has huge front and back decks for relaxing and entertaining. It also has a huge cemented storage space and spectacular landscaping in the back yard with automatic watering system. Enjoy the forest with the occasional sighting of a deer, elk or other wildlife, yet you are only 5 to 10 minutes from shopping and hospital. The neighborhood is composed of those who love nature, the outdoors and the cool climate. Don't hesitate on this one!

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