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

758 Southlake Road Lakeside, AZ 85929

$3,000,000
6 Beds
7 Baths
5,793 SqFt
Status Active
MLS # 6745246
Property Type Single Family Residence
Price Type --
This beautiful LAKE property in the perfect Arizona picturesque landscape, boasts a 3,398 SF Main house and a 2,394 SF Guest House. Tucked in a private portion of the lake, it is a serene escape into mountain living. The property sits on a stunning ¾ acre lot & offers a unique blend of comfort & eligance, with its log-sided architecture and FULLY furnished interiors. Surrounded by tons of trees & beautiful neighboring homes, this property stands out w/ its private gated entrance & private boat dock, perfect for fishing or kayaking adventures, on this exquisite & rare lakefront property. The promise of peaceful days amazing sunsets & starry nights is a reality here, w/ amenities such as a truly HUGE back deck, outside fireplace plus a lower firepit and BBQ area enhancing outdoor living! Imagine a grand log home where the great room, with its expansive floor-to-ceiling windows, offers a panoramic view of a serene lake. This home has one of the BEST views of Rainbow Lake! The heart of the home features a large rock fireplace, perfect for gathering around on chilly evenings. This fireplace has a gas starter for easy to light wood fires, or it could easily be converted to a ornamental gas fireplace. Both the interior and exterior fireplaces on the main house have gas starters. The ceilings boast beautiful tongue-and-groove woodwork, complementing the rich wood flooring that extends throughout the space. The ceilings throughout the main house, including the carport, and the wall under the stairs are a stunning cedar. An open chef's kitchen, complete with a rock-sided island and stone countertops, invites culinary adventures. The chef's gas commercial grade stove is fantastic. Lots of counter space and a custom made live edge wood island and breakfast bar. A custom pizza, by the fireplace, that you can cook with gas or wood is fun and creative for any setting. Imagine cooking looking out to the lake. The guest 1/2 bath on the main floor has a custom made cypress vanity that is one of a kind that adds rustic elegance. The Primary suite is a luxurious retreat, with its own stunning lake views, an ensuite that includes a soaker tub, double vanity, and a custom tiled shower designed for warmth with radiant floor heat and relaxation. The main floor also houses a cozy guest suite that basically mirrors the Primary and it too has heated radiant floors in the bathroom. Upstairs is a third bedroom with an accompanying bathroom awaits, alongside an open loft that's perfect for hosting additional guests. ALL bedrooms plus the loft have astonishing VIEWS of the lake. This log sided home is a harmonious blend of rustic charm and modern comfort, creating a space that's as inviting as it is beyond impressive. Photos can't begin to embrace it beauty and magic. The SIX car garage adds additional features like a car lift with an air compressor. The garage is 25X60 with an office and storage area above that is 15X60 with a 1/2 bath offers flexibility for work or play. Additional features are fully enclosed fenced property, smart home with cameras and alarms, plus a surround sound system cater to both convenience and entertainment. The electronic hub, cleverly concealed under the stairs in a built-in bookshelf, speaks to the thoughtful design of the home. A dog shower in the mudroom/laundry adds a touch of consideration for pet owners. The gated entrance ensures privacy and exclusivity, making this property a secure haven. For those drawn to the charm of lakeside living, this home on Rainbow Lake is a rare find, promising a blend of relaxation, recreation, and potential revenue. It's an invitation to embrace the tranquility of nature while enjoying the comforts of a well-appointed home. At the back of the property there is a beautiful guest home that offers the epitome of spacious living, with a split bedroom floor plan that seamlessly connects the living room with a wood burning fireplace, to an inviting front deck and an open kitchen. Large windows flood the space with natural light, creating an airy and welcoming atmosphere. The primary suite provides a private retreat, while two additional guest rooms ensure comfort for visitors. This home, with its thoughtful design and ample amenities, represents the ideal guest house for those who value both comfort and style. The landscaping on this property is stellar and the photos can't begin to show it's beauty. The circular driveway is incredibly appointed for ease and ample parking. This property must be seen to understand how fantastic it is. In addition, this property is beyond rare here in Arizona. It truly is so unique and the location on the lake is absolutely one of the very best available. The views are STELLAR. The sunsets are picturesque and the sunset cruises are a must! Imagine living in the White Mountains of Arizona where you have 4 beautiful seasons and where you can breathe in the fresh mountain air and enjoy the 40 lakes and over 600 miles of rivers and streams. In addition to the amazing fishing, this area has one of the most extensive trail systems in the southwest for hiking, biking, horseback riding, quadding and more. Sunrise Ski Resort is also just 40 minutes away with 3 beautiful mountains to ski, snow board or sled. If shopping is your interest, you will love the antique stores and the multitude of arts and craft shows that happen in the summer. The music festivals have something to fit everyone's enjoyment. Do you love to golf? There are 7 amazing golf courses, 3 that are public. The White Mountains, where this home/cabin is the best kept secret of Arizona! Come and explore and enhance your living! Pinetop-Lakeside was also voted 'Best Cabin Region in the U.S... Embrace the MAGIC!

750 Rhapsody Road Sedona, AZ 86336

$3,000,000
4 Beds
4 Baths
4,125 SqFt
Status Active
MLS # 6734090
Property Type Single Family Residence
Price Type --
Adjacent parcel #408-24-510 available for purchase WITH the home, not in advance of home sale.

26485 N 108th Way Scottsdale, AZ 85255

$3,000,000
6 Beds
6.5 Baths
6,602 SqFt
Status Active
MLS # 6723125
Property Type Single Family Residence
Price Type --
Welcome to a stunning custom-built masterpiece that exudes romantic charm and timeless sophistication. Nestled in the prestigious Windy Walk Estates, part of the Troon Village community, this home offers an enchanting blend of elegance and classic design. As you step through the grand entrance, you are greeted by the glow of ornate chandeliers that illuminate the spacious living areas. The beautiful iron spiral staircase adds to the home's captivating allure. For your convenience, an elevator provides easy access to all levels of this remarkable residence. The primary bedroom is a true retreat, featuring a private balcony that offers breathtaking views of Pinnacle Peak. Imagine waking up to the serene beauty of the mountain every morning, framed perfectly by the large windows in your bedroom. This home is designed for those who appreciate fine details and luxurious touches. The property includes a two-bedroom separate casita, each with its own entrance. One unit features a kitchenette, making it perfect for guests or extended family stays. The main house boasts a wet bar with a built-in wine fridge, ideal for entertaining. Step outside to the backyard oasis where a sparkling pool with a waterfall feature awaits. Whether you're hosting an intimate gathering or enjoying a quiet evening at home, the ambiance of this property will captivate and inspire you. Experience the epitome of luxury living in this exceptional Scottsdale home.

3355 N 55th Place Phoenix, AZ 85018

$3,000,000 - 5Br/4Ba -  for Sale in 56th And Osborn, Phoenix
New
$3,000,000
5 Beds
4 Baths
3,973 SqFt
Status Active
MLS # 6764526
Property Type Single Family Residence
Price Type --
Welcome to Arcadia Parkside, an exclusive gated enclave of four exquisite homes in the highly sought-after Arcadia neighborhood, just steps from Arizona Country Club and local hotspots. This stunning residence features lush landscaping and a well-designed floor plan spanning nearly 4,000 square feet. The chef's kitchen boasts a spacious island and top-of-the-line appliances, ideal for culinary enthusiasts. Soaring ceilings create an impressive atmosphere, while reclaimed wood beams, French oak flooring, and custom millwork add warmth. The exceptional primary suite offers a luxurious soaking tub, oversized shower, and a generous walk-in closet. The backyard is an entertainer's dream, with ample patio space, lush landscaping, and a sparkling pool. Experience the perfect blend of sophistication and tranquility at Arcadia Parkside, where every detail has been thoughtfully curated for a luxurious lifestyle.

10024 N 61st Place Paradise Valley, AZ 85253

$3,000,000
6 Beds
4.5 Baths
4,122 SqFt
Status Active
MLS # 6751620
Property Type Single Family Residence
Price Type --
This bright happy home has been fully remodeled and expanded to include a separate detached two room guest house, and a separate detached office. This tasteful up to date home is not just esthetically pleasing, but also very functional. The main house has a large master suite, a two room junior master suite, and three additional bedrooms along with an additional bathroom and a powder room. The large laundry room is just off the kitchen. And, the great room/kitchen looks out into the large backyard and pool area. There are multiple play areas, including a sport court. The exterior rooms include a large covered patio area with an exterior kitchen, and a gazebo with a fireplace. In addition, the garage has an evaporative cooler and two electric car outlets. Also equipped with solar panels.

23832 N 112th Place Scottsdale, AZ 85255

$3,000,000
4 Beds
4.5 Baths
4,915 SqFt
Status Active
MLS # 6744119
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living w/this stunning custom Santa Fe home, perfectly positioned on a sprawling 1.25-acre lot in scenic Troon Ridge Estates. Embrace unparalleled privacy and serene mountain, golf course & sunset views from this exquisite property. The main residence seamlessly blends classic Southwestern charm w/modern sophistication. Inside, you'll find warm wood floors & stunning ceilings adorned w/rich wooden beams. Latilla wood shutters add an authentic touch while allowing natural light to flood the space. The updated interiors include a walk-in wine cellar w/a tasting room, perfect for wine enthusiasts and entertaining guests. The reimagined upstairs primary suite offers a haven of tranquility. This closet is designed as a multifunctional space... This closet is designed as a multifunctional space serving also as a sitting room/office and the spa-quality bathroom creates a serene retreat. Step outside to your private oasis, featuring a backyard designed for relaxation and entertainment with pool, fireplace, outdoor kitchen and acoustic amphitheater. Adjacent to the main home is a newly remodeled detached guest house, offering privacy and comfort for visitors. This charming addition complements the main residence with its own unique blend of style and modern updates.

5831 N Echo Canyon Circle Phoenix, AZ 85018

$3,000,000
2 Beds
2.5 Baths
3,667 SqFt
Status Active
MLS # 6748221
Property Type Single Family Residence
Price Type --
Welcome to Echo Canyon's guard-gated community! This modernly remodeled home offers breathtaking views of Echo Canyon and ThePraying Monk. Upon entry, you're welcomed by an expansive great room with soaring ceilings. The gourmet kitchen features a stunning prep island adornedwith a Dekton Trilium countertop. The primary suite is luminous, highlighting views of the Praying Monk and providing private access to the tranquil backyard. Itsspa-like bathroom showcases a custom metal barn door, a floating vanity with double glass sinks, & Grohe fixtures. Outside, an outdoor kitchen equipped with a50'' Wolf Professional Gas BBQ and seating area awaits, alongside two custom-designed Eurocave wine coolers holding 500 bottles! The community alsofeatures private hiking trails, pool, spa & tennis.

9267 E Rimrock Drive Scottsdale, AZ 85255

$3,000,000
4 Beds
4.5 Baths
5,079 SqFt
Status Active
MLS # 6580717
Property Type Single Family Residence
Price Type --
An elegant and timeless estates has just come to market. This HOME is situated on one of the best lots (larger in size, location and orientation N/S) in the highly sought after and coveted Pima Acres. Let's start with the main features of the home...you will find four excellent sized rooms, four and a half bathrooms, 5079 sq ft, EIGHT+ car garage, HUGE theatre/entertainment room, 83,459 sq ft lot, sparkling centerpiece pool/spa, fully fenced yard, R/V gate, chef's dream kitchen, entertainers delight backyard with sand volleyball and putting green, HUGE OWNED SOLAR SYSTEM, open floor plan with soaring ceilings and so much more! Don't miss out on your chance to get into this community at an attractive price point. The home next door is listed at $9.4 mil and several others north of $6 mil.

10670 E Hedgehog Place Scottsdale, AZ 85262

$3,000,000
5 Beds
6 Baths
4,665 SqFt
Status Active
MLS # 6675444
Property Type Single Family Residence
Price Type --
Welcome to this enchanting Spanish-style home nestled amidst boulder outcroppings with breathtaking views of the McDowells, Pinnacle Peak and Crescent Moon. Located in the gated community of Pinnacle Canyon, this custom home was built by RS Homes with a focus on blending elegant architecture and natural beauty. Inside you will discover a warm and inviting interior adorned with classic accents including wood vegas & fireplace mantels, chocolate Saltillo & travertine tile, wood flooring and divided light windows. The inviting kitchen, with colorful tile countertops and backsplashes and convenient dumb waiter, adjoins a breakfast room with sunrise views. The primary suite, with cozy fireplace and private patio access, includes a bonus room perfect for nursery, exercise room, etc. Outside, the enchanting backyard oasis awaits with elevated covered patio and dining area, pool, spa, outdoor kitchen and pool bath. With extreme attention to detail, this is an opportunity to own a jewel box in the desert.

14256 N Territory Trail Fountain Hills, AZ 85268

$3,000,000 - 4Br/6Ba -  for Sale in Adero Canyon Parcel 7, Fountain Hills
Open House
$3,000,000
4 Beds
5.5 Baths
4,734 SqFt
Status Active
MLS # 6758592
Property Type Single Family Residence
Price Type --
Discover this spectacular contemporary home in Adero Canyon, perfectly positioned against a serene preserve on a quiet cul-de-sac. If you seek privacy, stunning views, and a tranquil setting, this property is an absolute must-see. Access Adero Canyon through a private gate, which opens to a select enclave of 31 semi-custom luxury homes. This exquisite residence features 4 large ensuite bedrooms, 2 private offices one with private entry, a bonus/movie room, 5.5 bathrooms, and an oversized 4-car garage. The main living spaces and the master suite are located upstairs to take full advantage of the 360-degree mountain views. Upon entry, you'll be welcomed by a spacious great room that seamlessly flows into the gourmet kitchen. This culinary haven boasts a 48-inch Wolf range & hood....cont'd A 42 Sub Zero French door Refrigerator, double Wolf wall ovens, a large island, and a walk-in pantry. The open great room design extends to a generous outdoor balcony, ideal for entertaining. The primary suite is a private retreat, featuring an upgraded body shower sprayer, a separate bath tub, and a large, beautifully finished closet. A separate walkway leads to one of the private offices, offering extra quiet and privacy away from the main house. Downstairs, you'll find 3 additional large en suite bedrooms plus a large movie/games room with pocket doors that open to a private outdoor oasis. This outdoor paradise includes a heated oversized pool with a swim-up sunken bar, a spa, a built-in covered outdoor kitchen and bar area, a full pool bathroom, a putting green, and a grassy area for entertainment. Enjoy the spectacular outdoor spaces and the breathtaking 360-degree mountain views along with the serene preserve.

10662 E Mark Lane Scottsdale, AZ 85262

$3,000,000 - 4Br/5Ba -  for Sale in Pinnacle Canyon At Troon North Unit 1, Scottsdale
Open House
$3,000,000
4 Beds
4.5 Baths
4,266 SqFt
Status Active
MLS # 6756792
Property Type Single Family Residence
Price Type --
ONE OF A KIND custom Home situated on a premium .82 ACRE lot PERCHED above the Troon Monument GOLF COURSE in GATED Pinnacle Canyon. Enjoy BREATHTAKING VIEWS of the course & mountain vistas! The Wonderful SPLIT Floorplan boasts a Large Primary Retreat, all ENSUITE BEDROOMS, an EXECUTIVE OFFICE & a DETACHED 1/1 CASITA! The thoughtful design features 12-foot ceilings paired w/ expansive picture windows, elegant formal living & dining rooms, spacious great room, a chic wet bar & cozy fireplace to create the ideal setting for both everyday living & upscale entertaining. The grand kitchen includes double ovens, butlers pantry, Kitchen island w/ breakfast bar & an abundance of cabinets! Relax in the backyard oasis by the pool, spa, tranquil water feature, fireplace or firepit! BRAND NEW Roof!

Prescott AZ 86305

$2,999,999
3 Beds
3 Baths
3,586 SqFt
Status Active
MLS # 6609583
Property Type Single Family Residence
Price Type --
Less than 25 miles from downtown Prescott, AZ awaits a truly special equestrian treasure - Happy's Dream Ranch. Designed for the pleasure of humans and horses alike, this beautiful property set in Long Meadow Ranch features a warm yet elegant modern 3586 sqft. farmhouse with a 1-car attached, and 2-car detached garage. Beyond the home, the property includes a hay barn w/ bunkhouse, a tiny home, and two airy barns with tack rooms and a total of 20 stalls. Perimeter fenced and cross fenced, there is ample room to train, ride, and run on the magnificent 36.46 acre property - including in a 120' x 240' arena, and an electric Eurociser. With a backdrop of majestic Granite Mountain and stunning 360 degree sweeping views, Happy's Dream Ranch provides the quintessential Arizona ranch lifestyle!

Leave a Reply

Your email address will not be published.