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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

2505 E Presidio Street Mesa, AZ 85213

$695,950

4 Beds

3 Baths

2,279 SqFt

Status Active

MLS # 6728266

Property Type Single Family Residence

Price Type --

This is Base Price on a new Build and does not Include Lot premium or Upgrades. Grove at Lehi is bringing their sophisticated style to a new Upscale Gated Community in the Citrus District of Northeast Mesa. The Palm Tree lined Grand Entrance and charming decorative gatehouse provides a sense of arrival and welcomes you inside this gated 108-homesite community. Incredible central park that offers a lighted pickleball court, playground, and ramada perfect for outdoor family fun! Grove at Lehi provides easy access to the Loop 202 with close proximity to Tempe, Scottsdale, and Gilbert. Larger Lots with offering 8ft and 10ft RV Gates. Come Check out this brand-new community. (Photos are of Model)

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14036 E Barbie Lane Scottsdale, AZ 85262

$695,000

4 Beds

3 Baths

2,446 SqFt

Status Active

MLS # 6712488

Property Type Single Family Residence

Price Type --

This Desert Charmer in Scottsdale. This 1 acre horse property is ideal for outdoor living & recreational enthusiasts, We hae water access to epcor!!! This home has stunning sunsets & mountain views. This 4 bed/3 bath home is open, bright & very spacious. Large kitchen & breakfast room are open to family room. Room for a horse set up on the west side of the home. The perfect balance between wilderness & city living, w/near by access to hundreds of miles of hiking/horse trails, while still being close to fine dining & shopping. Best of all NO HOA.

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13170 W Duane Lane Peoria, AZ 85383

$695,000

2 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6753017

Property Type Single Family Residence

Price Type --

STUNNING 'Vibrant' model w/ 7.8 kWh OWNED solar has every UPGRADE you could possibly want/need in Trilogy at Vistancia! Expansive 15 ft. ROLLING WALL OF GLASS extends LIVING space to the well designed R-YARD w/7 PERSON SEMI-INGROUND spa, o/sized PERGOLA w/BAR tops, EXT. TRAVERTINE patio, gas FIREPIT, Blt-in BBQ w/cooler, outdoor SHOWER & turf area for CORNHOLE! Cov. PATIO w/motorized SOLAR SHADE. Gorgeous KIT w/UPGRD cabinets, S/S APPL., DESIGNER B-splash w/basketweave pattern, o/sized ISLAND W/LEATHERED granite & PANTRY. Great Rm w/STONE fireplace & custom MANTEL enhance this open concept space. PRIMARY suite features CUSTOM barn door & PLANK tile flooring. Primary BATH w/DBL sinks, GORGEOUS tile shower & LARGE walk-in closet. Spacious DEN w/built-in BOOKCASE, wine rack & base cabinetry. for YOUR additional storage needs. Guest BATH with tub/shower COMBO has UPGRD TILE to ceiling w/GLASS SHOWER DOOR & Granite C-top. Home features UPGRD PLANK tile flooring thru-out and custom PLANTATION shutters in all the right places! Laundry room w/upper cabinets. Garage features 4 FOOT extension with an add'l area for golf cart, sports equipment or hobby space & 2 hanging storage racks. Additional UPGRADES include: Whole House filtration system w/water softener, surround sound system in great room, NEW PVC drip irrigation in '23, front Security Screen door, KRAFT WIZARD patio screen on 15 foot slider, wrought iron fencing w/snake fencing, low voltage lighting. Beautifully landscaped front/rear yard, raised planter bed in rear yard. Stained concrete driveway, paver walkways, outdoor trash enclosure. TRILOGY AT VISTANCIA is a resort style 55+ active adult community in NW Peoria. Trilogy has 2 beautiful clubhouses, 2 heated outdoor pools, 1 heated indoor lap pool, 2 fitness centers, tennis courts, pickleball courts and bocce ball courts. Well designed Gary Panks Championship 18 hole Golf Course include V's Taproom. Trilogy offers numerous fitness classes, hosted lifestyle events/trips and numerous clubs ie: STEM club, history club, women's club, veteran's club, wine club, pickleball club and the car club just to name a few! ENJOY THE GOOD LIFE AT TRILOGY VISTANCIA!

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8307 E Gary Road Scottsdale, AZ 85260

$695,000

5 Beds

6 Baths

5,505 SqFt

Status Active

MLS # 6722753

Property Type Single Family Residence

Price Type --

New co-ownership opportunity: Own 1/8 of this professionally managed, turnkey home. Named for a tropical Yucatan oasis, Tulum Oasis features a great room with 17-foot wood ceilings and a two-sided fireplace. A floor-to-ceiling corner window wall floods the space with light and opens to the backyard pool, a gas fire pit, large grassy lawn, BBQ and dining space. The kitchen has a limestone backsplash, two islands and Sub-Zero and Wolf appliances. The dining room offers a view of a stone patio and fountain. The home includes a den and a flex space. All five bedrooms have ensuite baths. The primary suite features a cozy fireplace, a walk-in closet and a luxurious bathroom with a dual-sink vanity, stone tub and open walk-in shower. The home comes fully furnished and professionally decor

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4232 N 161st Avenue Goodyear, AZ 85395

$695,000

4 Beds

3.5 Baths

3,122 SqFt

Status Active

MLS # 6756990

Property Type Single Family Residence

Price Type --

4 Bedroom 3.5 Bath, 3 Car Garage & RV GATE. Custom Iron Gate Entrance into Private Courtyard. Beautiful Custom Tiled Entrance as you enter. TILE T/O except bedrooms. Open Floor Plan W/ Large Open Dining Area & Den. Great Room & GOURMET KITCHEN. Kitchen Features Beautiful GRANITE Countertops, Island, Stainless Steel Appliances, GAS STOVE ,DOUBLE OVENS, HUGE WALK IN PANTRY & 42'' CABINETS for Storage. PLANTATION SHUTTERS. Spacious Primary Suite with gorgeous bathroom w/ a Glass WALK-IN SHOWER, Separate Tub & double Sinks w/ Granite Countertops. 8' Interior Doors & 3 Secondary Bedrooms w/ Generous Closets. Garage W/ Cabinets & Overhead Storage Racks. Large Backyard professionally landscaped with ARTIFICIAL TURF & covered patio

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36601 N Mule Train Road Carefree, AZ 85377

$695,000

2 Beds

3 Baths

1,970 SqFt

Status Active

MLS # 6747936

Property Type Townhouse

Price Type --

Very nice downstairs condo in a beautiful well kept gated community. It features 2 large bedrooms, 3 full baths and a den/office. Newer tile, SS appliances and A/C in the larger part of the condo. 2 covered patios to enjoy your morning coffee. This is a great place to live! Social events at the clubhouse all the time from Fall to Spring! Beautiful pool area with a hot tub and waterfall. Come check it out!

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6601 N 79th Place Scottsdale, AZ 85250

New

$695,000

2 Beds

2 Baths

1,472 SqFt

Status Active

MLS # 6758837

Property Type Townhouse

Price Type --

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318 N Washington Street Chandler, AZ 85225

New

$695,000

4 Beds

2 Baths

1,675 SqFt

Status Active

MLS # 6759421

Property Type Single Family Residence

Price Type --

Walking Distance to Thriving Downtown Chandler In Silk Stocking Historic Neighborhood, Many opportunities for this Updated Duplex on a 7,449 SF Lot Across AZ Ave from Historic Chandler High School and Chandler Center of the Arts. Currently Both Units are Vacant and Ready For Market Rents, Owner/User With Income Or Add More Units On the Empty Back Part of the Lot. Both Units are 2 Bed 1 Bath/Tubs with Laundry, The back Unit has An Extra 450 sf Room with Its Own Outside Entry Door That Can Be Used for a Third Bedroom, Office Or Workshop with Air. Laminated Flooring in all living and Bedrooms with Tile in Kitchens and Baths. Security on All Doors and Keyless entry pads on Front Doors. All Facts and Figures are Approximate, Buyer to Verify to their own Satisfaction.

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4915 S Easton Lane Mesa, AZ 85212

$695,000

4 Beds

2.5 Baths

2,572 SqFt

Status Active

MLS # 6746975

Property Type Single Family Residence

Price Type --

Woodside's Most Popular Great Room FloorPlan**4 Bedrooms/ 2.5 Bathrooms/ 3 Car Tandem Garage**Corner Lot**Across from Green Belt**Structure Sq Footage Increased as a Result of Larger Corner Lot**Expanded Arcadia/ Slider**Recessed Lighting**Under Cabinet Lighting**Stainless Steel Appliances**Plantation Shutters**Laundry off Primary Bdrm Closet**Walk In Pantry**Beautiful Wood ''Alder'' Cabinets with ''Black Glaze Finish''**Granite Counter Tops**Travertine Tile Patio**Artificial Turf Grass**Furnishings Negotiable**Great Location**

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95 W Goldfinch Way Chandler, AZ 85286

$695,000

3 Beds

2 Baths

2,153 SqFt

Status Active Under Contract

MLS # 6752732

Property Type Single Family Residence

Price Type --

Welcome to Your Dream Home in South Chandler! Nestled in the sought-after Carino Estates subdivision, this stunning single-story home offers the perfect blend of modern updates and timeless charm. Featuring 3 spacious bedrooms, 2 beautifully remodeled bathrooms, a versatile office/ den, and a two-car garage, this home is designed for comfortable living. Step outside into your very own tropical paradise! The backyard boasts mature plants and trees, a sparkling pool, and a stylish pergola, creating an ideal space for relaxation and entertaining. Inside, recent upgrades include beautiful wood-look tile floors, a completely remodeled kitchen with high-end finishes, and updated bathrooms and fixtures throughout. The thoughtful design and attention to detail make this home truly move-in ready!

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7524 E Wildcat Drive Gold Canyon, AZ 85118

$695,000

2 Beds

2 Baths

1,857 SqFt

Status Active

MLS # 6750505

Property Type Single Family Residence

Price Type --

BEAUTIFUL mountain views from your private back yard! Enjoy relaxing in your quiet oasis with wildlife and the peaceful comfort of this lovely setting. PLUS: A THREE-CAR GARAGE, an extra-large laundry room, a home office with built-ins, lots of storage in the laundry room and garage. This is a special home, located in one of the most desirable areas of Mountainbrook Village. The Mountainbrook Village adult community has it all: Pickleball, pools, an exercise facility, a community center, as well as countless resident activities! Don't miss this opportunity to enjoy this private sanctuary of a home.

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44321 N 11th Street New River, AZ 85087

$695,000

3 Beds

2 Baths

2,286 SqFt

Status Active

MLS # 6753014

Property Type Single Family Residence

Price Type --

Desirable Circle Mountain property in New River! This property is in move-in ready condition. It provides privacy, beautiful mountainous views, serenity, paved roads, riding trails, RV gate, one acre lot, 3 large bedrooms plus den, and north/south exposure with block fencing in backyard. This home is perfect for entertaining with the open floor layout, spacious kitchen open to the great room, granite countertops, tile flooring, gas stove, fridge, washer, and dryer included, plantation shutters, and water softener. Master suite has double sinks, separate tub and shower, and large walk-in closet. This home comes with a 12-month home warranty!

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