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

2055 S Marble Street Gilbert, AZ 85295

$819,900
5 Beds
3 Baths
2,493 SqFt
Status Active
MLS # 6713621
Property Type Single Family Residence
Price Type --
This stunning home in the highly desirable Ashland Ranch features a gorgeous tile saltwater pool with beautiful waterfalls, 5 bedrooms (1 room set up downstairs as an office), and 3 bathrooms with a 3-car garage. Light and bright open floor plan with gorgeous window coverings (shutters) throughout the home. The separate living/family room gives you extra space. The kitchen looks out over the backyard paradise with its lush lawn, pool, and entertainer area. The backyard has a custom automated patio cover, a custom tile grill island, a natural gas fire pit, and more. Amazing grass yard with flowering bushes, palm trees, and storage on the side with an RV gate. Walking distance to Ashland Elementary School & Park, many restaurants, shopping, and entertainment districts are just minutes away. If you've been searching for your dream home, look no further. This property has everything you desire and more: - Heated saltwater pool and spa with Elevated Stone Edge. Waterfalls and Cobalt Blue Glass Tile (no need to resurface every 12 years as you would with pebble tech or plaster). - Kitchen Black cabinets and marble countertops - Newer GE Microwave and KitchenAid dishwasher - Recently installed laminate flooring in the master bedroom, upstairs hall, and another bedroom. - Newer carpet on the stairs and an additional bedroom - Equinox louvered roof that can be adjusted - BBQ Travertine stone tile grill island with round table seating - Whole Patio Mist system and outdoor fans - Plantation Shutters throughout the home - Lion BBQ Grill and Lion Fridge. - Additional lighting beneath the barbecue island - Natural gas Travertine fire pit - Outdoor backyard lighting - Water softener and R/O system - Laundry chute, a convenient feature that simplifies the chore of laundry. - Doggie doors - Outdoor Holiday designated lighting outlets. - A garden area with irrigation - Newer drip system - The mature backyard with grassy area, Palm trees and bushes.

809 W St Moritz Drive Payson, AZ 85541

$819,900
5 Beds
3 Baths
3,343 SqFt
Status Active
MLS # 6725287
Property Type Single Family Residence
Price Type --
Beautiful furnished remodeled home with 2 extra bedrooms and a full bath in basement 2 extra storage closets as well. Kitchen and bathroom remodeled with white shaker cabinets and extra pantry cabinets in kitchen. New vinyl plank flooring in basement, tile in laundry room and bathrooms. Five Panel doors, Large game room in walk out basement. Large primary closet with barn door. 2 large decks, views of the mountains. Fire pit area. 2 gas fireplaces and fenced dog run. Hook ups for kitchenette downstairs. Plans for 3rd car garage. New kitchen appliances, new washer and dryer, new carpet, new leaf filter gutters, new landscaping, new sun screens on all windows, new whole house filtration system/softer, decks refinished, new roof, new interior and exterior paint, overhead storage in garage.

8642 E Monterosa Avenue Scottsdale, AZ 85251

$819,750
3 Beds
2 Baths
2,007 SqFt
Status Active
MLS # 6758788
Property Type Townhouse
Price Type --
Welcome to your dream home in the sought after Sands East Community! This stunning single-story home is just minutes from the vibrant atmosphere of Old Town Scottsdale. Designed by the renowned architect ET Wright, each home in this community boasts a unique charm, and this one is no exception.Step inside to discover an inviting open floor plan bathed in natural light, creating a warm and welcoming ambiance. The seamless flow between the living areas makes it perfect for entertaining or simply enjoying a quiet evening at home. The beautifully designed backyard is an inviting retreat as well. With its incredible location, you'll have easy access to the best dining, shopping, and cultural experiences that Scottsdale offers. Don't miss the chance to make this exceptional home your own!

3835 N Canyon Wash Circle Mesa, AZ 85207

$819,500
4 Beds
2.5 Baths
2,814 SqFt
Status Active
MLS # 6754948
Property Type Single Family Residence
Price Type --
Beautiful home on a large Cul-De-Sac in desirable Las Sendas Subdivision! Freshly painted with great curb appeal with upgraded stone entry leads into foyer with pillars, large 18'' tile, in all the right places, tons of natural light, gas fireplace, plantation shutters, and upgraded ceiling fans & light fixtures and new AC. Spacious gourmet kitchen with level 5 granite counters, 42'' cabinets, gas stove and island! Wired for surround sound in the family room & speakers in the living room, master bedroom and back patio! Sliders from kitchen and master bedroom lead to covered patio that extends nicely into flagstone pavers. Nicely landscaped huge backyard with landscape lighting and built-in BBQ. It's perfect for entertaining. Plenty of room in the 3 car garage for all your weekend toys.

9799 W Rowel Road Peoria, AZ 85383

$819,500
4 Beds
2.5 Baths
2,744 SqFt
Status Active
MLS # 6746346
Property Type Single Family Residence
Price Type --
**PRICED TO SELL** DESIRABLE 'LANCASTER' FLOORPLAN W/GREATROOM, SPLIT MASTER, DEN & TEEN AREA + INSTANT CURB APPEAL W/STONE ACCENTS, PAVER DRIVEWAY & GREEN TURF YEAR ROUND IN A GATED COMMUNITY. INTERIOR FEATURES INCLUDE TILE FLOORING, RARE MONTE CRISTO SATIN GRANITE C/TOPS, GRAY SOFT-CLOSE CABINETRY W/PULLOUTS, 8-FOOT INTERIOR DOORS, PLANTATION SHUTTERS, KITCHEN ISLAND W/BAR SEATING & PENDANTS ABOVE, GAS RANGE, CUSTOM METALLIC EPOXY FLOOR COATING IN THE GARAGE, INSIDE LAUNDRY ROOM W/SINK + CABINETS. OUTSIDE YOU'LL FIND A FRONT GATED COURTYARD, RV GATE, REAR PATIOS, BOTH FULLY COVERED & PERGOLA STYLE AND GARDEN AREA. NORTH PEORIA LOCATION JUST OFF THE 'FOUR CORNERS' CLOSE TO SHOPPING, DINING & ENTERTAINMENT ALONG WITH DESIRABLE PUSD SCHOOLS! KEEP READING THE SUPPLEMENTAL REMARKS... NEW 18-SEER A/C UNIT, NEW WATER HEATER, WATER SOFTENER, CUSTOM IRON SECURITY SCREEN DOORS AND AT THE COURTYARD ENTRY, EXTERIOR COACH LIGHTS, RAIN GUTTERS, UNDER EAVE POWER OUTLETS FOR HOLIDAY DECOR, INSULATED 3G TANDEM GARAGE HAS SIDE DOOR AND OVERHEAD STORAGE RACKS, FIRE SPRINKLERS AND PAVER HARDSCAPE IN THE BACKYARD AND ON PATIO. ADDITIONALLY INSIDE IS A WALK-IN FOOD PANTRY W/FROSTED GLASS DOOR, STAINLESS APPLIANCES, SATIN NICKEL HARDWARE & FIXTURES, CEILING FANS, TALLER VANITIES IN THE BATHROOMS WITH DUAL SINKS IN MASTER & GUEST, WALK-IN CLOSETS IN THREE OF THE FOUR BEDROOMS, BUILT-IN SPEAKERS & SURROUND SOUND INSIDE AND OUT, TALLER BASEBOARDS WITH TWO-TONE PAINT SCHEME, UNDER CABINET LIGHTING IN THE KITCHEN, AMPLE RECESSED CAN LIGHTING, SECURITY SYSTEM, BRICK STYLE TILE IN THE ENTRY, BATHROOMS AND LAUNDRY ROOM. NEIGHBORHOOD HAS A PARK WITH PLAYGROUND, RAMADA AND GRASS SPACE.

20454 E Via Del Jardin -- Queen Creek, AZ 85142

$819,412
4 Beds
3 Baths
3,077 SqFt
Status Active
MLS # 6734837
Property Type Single Family Residence
Price Type --
MLS#6734837 February 2025 Completion! The Breckenridge is a single-story floor plan featuring 3,077 sq. ft. of living space, including 4 bedrooms, 3 bathrooms, a 3-car tandem garage, a dining room, and a study. The welcoming porch opens into the foyer, flanked by a dining room on one side and bedroom 4 and the study on the other. Straight ahead, you'll find a spacious kitchen, casual dining area, and gathering room. This open-concept design allows you to cook while enjoying time with loved ones or watching your favorite show. Adjacent to the kitchen are bedrooms 2 and 3, along with a full bathroom for easy access. The primary suite features a bathroom with a split tub and shower, plus ample closet space. Your dream home awaits! Structural options include: gourmet kitchen with double over, shower in lieu of tub/shower at bath 3, garage service door. Design upgrades include: upgraded size and painted kitchen cabinets, whole house quartz countertops, upgraded carpet and tile flooring, double ovens, upgraded interior paint, e-granite single bowl kitchen sink, gas line for future outdoor kitchen, extra blown insulation in all interior walls (whole house).

18009 E Silver Sage Lane Rio Verde, AZ 85263

$819,000
2 Beds
3 Baths
2,093 SqFt
Status Active
MLS # 6727868
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the heart of prestigious Trilogy at Verde River. This home has it all! This easy and generous IRONWOOD floor plan offers 2 Upscale bedrooms, Large Den/Study, 2.5 bathrooms, and countless upgrades throughout. Beautiful design elements are apparent from the moment you arrive and not a detail has been overlooked either inside or out. The stylish kitchen, loaded with Stainless Steel Monogram Gourmet Appliance Package, quartz island, stunning upgraded cabinets with soft close doors, apron front farm sink, decorative backsplash, under-cabinet lighting and walk-in pantry leaves absolutely nothing to be desired. You'll appreciate the attention to detail and luxurious touches throughout that make this home truly special including upgraded tile flooring, white shutters throughout, custom lighting, 8' ft. solid core interior doors, two tone paint, 15 SEER AC unit, upgraded Hall of Frames mirrors in all the bathrooms, built-in cabinets in the garage and more. The Great room opens to an outdoor living room with a Multi Slide Wall of Glass for optimal Arizona indoor-outdoor living. The private South facing backyard is a true oasis with extended patio and soothing water feature for quite moments of reflection or joyful entertaining. Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?

7355 E Eagle Feather Road Scottsdale, AZ 85266

$819,000
2 Beds
2 Baths
2,001 SqFt
Status Active
MLS # 6714189
Property Type Single Family Residence
Price Type --
Gorgeous Serenity floorplan featuring an expansive great room, gas fireplace, opens to the kitchen with a breakfast bar. Oversized kitchen with many cabinets, kitchen island & a pantry. Primary suite, second bedroom & office/den have wood floors. Primary suite features views out to the spacious sunny south backyard. Office can easily hold a murphy bed or sleeper sofa along with a desk set or use as a flex space. Close to the clubhouse and an exclusive interior location within Winfield. Winfield is a resort community with a heated pool with lap lanes, a fitness center w/ weights & work out equipment, aerobics room, billiards, sauna, therapy spa. 8 lit tennis courts (2 are clay), & pickleball courts. There are many social and recreational groups.Walking, biking & hiking trails in Winfield

4533 E Kings Avenue Phoenix, AZ 85032

$819,000
3 Beds
2 Baths
1,931 SqFt
Status Active
MLS # 6749754
Property Type Single Family Residence
Price Type --
Beautiful home in a great Location! This property is an entertainer's dream with its HUGE backyard featuring a putting green, pool with water feature, covered patio, gazebo, low maintenance artificial turf and ample decking for lounge chairs. Side yards have RV gate on one side and a large shed for storage on the other. Interior features tile throughout, fireplace in family room, dual pane windows, shutters, skylight in the front room and interior laundry. The large open kitchen features upgraded cabinets, stainless steel appliances and a BIG island with room for stools, overlooking the family room and fireplace. Spacious master suite has door to backyard, tub, separate walk-in shower and a beautiful walk-in closet with cabinetry. Secondary bath has jetted tub/shower combination with tile surrounds and a bidet. This well cared for home is just minutes from freeways, and close to an array of shopping areas and restaurants.

5840 N Scottsdale Road Paradise Valley, AZ 85253

$819,000
2 Beds
2 Baths
1,600 SqFt
Status Active
MLS # 6712841
Property Type Townhouse
Price Type --
Welcome to this newly renovated townhouse located at 5840 N Scottsdale Rd, Paradise Valley, AZ 85253. With a contemporary design and meticulous attention to detail, this 1600-square-foot townhouse offers a stylish and comfortable living experience in a highly sought-after location. As you enter the townhouse, you'll be greeted by an open and bright living space. The interior has been thoughtfully updated with modern finishes and tasteful decor, creating a welcoming atmosphere for residents and guests alike. The home features a spacious living room, perfect for relaxation and entertainment. The large windows flood the room with natural light, and the neutral color palette enhances the sense of space and tranquility. The kitchen is a chef's delight, showcasing brand-new stainless steel appliances, sleek countertops, and ample storage space. The adjacent dining area is ideal for enjoying meals with family and friends. The primary bedroom is a true retreat, complete with a vaulted ceiling, an en-suite bathroom, and generous closet space. The large second bedroom can be used as a guest room, a home office, or a personal gym, depending on your needs. This townhouse also features a private outdoor patio, perfect for enjoying the beautiful Arizona weather. Whether you're sipping your morning coffee or hosting a small gathering, this outdoor space provides a serene and relaxing environment. Convenience is key, as this townhouse is located in the highly desirable Paradise Valley area. With easy access to major highways, shopping centers, restaurants, and entertainment venues, you'll have everything you need just moments away. Residents of this community also have access to amenities such as a community pool, fitness center, and well-maintained grounds, ensuring a comfortable and enjoyable lifestyle. Don't miss the opportunity to make this newly renovated townhouse your own. Experience the best of Paradise Valley living in this modern and stylish residence.

16205 S 7th Street Phoenix, AZ 85048

$819,000
4 Beds
2.5 Baths
3,311 SqFt
Status Active
MLS # 6750844
Property Type Single Family Residence
Price Type --
Ahwatukee Foothills Finest featuring 4 bed, 2.5 bath and stunning pool! Expansive entry with 18+ ft vaulted ceilings and spacious rooms. Kitchen boasts oversized island w/ barstool seating, SS appliances, granite countertops, wine fridge & beautiful wood cabinets. Eat-in kitchen dining open to the lovely living room. Light & inviting neutral paint, with lots of natural lighting throughout. Welcome the outdoors in w/ the backyard oasis featuring sparkling diving pool, built in BBQ & fireplace, paved sitting area, storage shed with tile roof, play area & more! Located on a lovely tree lined block just minutes from shops, dining, freeways and South Mountain Park. The ease of village living with the splendor of nature minutes away.

14820 N Skokie Court Phoenix, AZ 85022

$819,000
4 Beds
2 Baths
2,511 SqFt
Status Active
MLS # 6736682
Property Type Single Family Residence
Price Type --
MAKE OFFER! Welcome to your dream home in the heart of Moon Valley, where sophistication meets tranquility. This masterfully remodeled single- level residence is the epitome of luxury, designed to captivate the most discerning of buyers. Nestled on an expansive lot, this stunning 4-bedroom, 2-bathroom oasis offers a seamless blend of contemporary elegance and timeless charm. Step into an airy, light filled space with exquisite finishes. The open concept design effortlessly connects the living,dining and elegant entertaining. Nice Chef's kitchen w/ abundance of cabinets and nice appliances and quartz counters. Step outside to your private oasis featuring a sparkling pool, expansive patio area and mature manicured landscaping. Come live the Moon Valley lifestyle

Leave a Reply

Your email address will not be published.