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

6032 W Victoria Place Chandler, AZ 85226

$2,700,000
6 Beds
5.5 Baths
5,919 SqFt
Status Active
MLS # 6742378
Property Type Single Family Residence
Price Type --
Extraordinary custom home within one of Chandler Arizona most coveted and idyllic gated communities. Trovita's newest built home is located on a desirable north/south exposure lot and nestled within the gated community's private, tree-lined streets, offering a unique opportunity to immediately enjoy all of today's modern styles and finishes within a well-established neighborhood. 2023 and 2024 full remodel of the home the upgrades are stunning with no details overlooked,...... The floor to celling custom retractable accordion doors seamlessly offer indoor and outdoor living to backyard including a custom oasis equipped with a beautiful wood beamed outdoor ramada and kitchen area w/ outdoor seating that offers a Wolf Grill, gas burners, stainless steel sink area, custom stone pizza oven and fireplace. Upgraded heated pool with water features, and custom tiled oversized spa. The large lush grassy yard with citrus trees and palm trees. Fine designer finishes throughout the home , including NEW wood and stone flooring, Crown molding, fully NEW paint throughout including all doors, Lutron automated shades, custom lighting, stone gas fireplaces. 3 of the fully remodeled bathrooms are fully handicapped accessible. One of bedrooms has its own private mini split A/C heater. Other bedroom has also been wired for a mini split. Entertain in the gourmet kitchen w/ an oversized island, stunning granite counters, tile backsplash, custom range hood, stainless appliances & dual convection ovens. The private owners wing provides relaxing amenities such as french doors leading to the resort backyard, a stone gas fireplace and a luxurious ensuite bath outfitted with gorgeous marble finishes, jacuzzi jetted tub, custom chandelier and an oversized marble shower. Even a state of the art Toto toilet. Retreat to the fully functional basement where you will find a large bonus room with wet bar and U-Line beverage fridge, a wine storage area, two of the six bedrooms, a bathroom and a theater room equipped with leather seating, a large screen, projector and a state of the art AV tower. Oversized 3 CG w/ epoxy floors, storage cabinets & a Tesla charging station. Rare palm trees planted in the front yard, ADT alarm is fully installed for added security. Truly a one of a kind custom home in this desirable area of Chandler Arizona.

28877 N 78th Street Scottsdale, AZ 85266

$2,700,000
4 Beds
4.5 Baths
4,046 SqFt
Status Active
MLS # 6733231
Property Type Single Family Residence
Price Type --
Spectacular Newer, Custom Home on 2.24 acres in the heart of North Scottsdale. Huge Opportunity! Large circular driveway, paved courtyard w/gas fire pit. Enter through the custom, wrought-iron front door. Large & open great room w/telescoping glass doors opening to beautifully landscaped back yard with pool, spa, synthetic turf lawn, built in BBQ. Entertainers' chef's kitchen w/custom cabinets, extra large island, granite counters, Sub Zero refrigerator & 8 burner Wolf gas range w/ double ovens. And a third, built-in oven and large breakfast area. Tile plank floors throughout & upgraded carpet & padding in the bedrooms. Large master bath with floor to ceiling glass shower & separate soaking tub. Huge closet w/ custom cabinets. Extra-large 4-car garage with epoxy floor. Priced to Sell!

1020 E Caroline Lane Tempe, AZ 85284

$2,700,000
6 Beds
7 Baths
10,613 SqFt
Status Active
MLS # 6707527
Property Type Single Family Residence
Price Type --
Elegant, high craftsmanship estate home with over 10k s/f, 6 bed +office, 6 bath, 3 car garage, new carpet on a 1.382 acre irrigated cul-de-sac lot. Air conditioned Carriage House with 6+ car garage, workshop, gun/storage room, half bath, & large hayloft next to horse pasture. Main home features a gourmet kitchen with 2 dishwashers, double ovens, & newer appliances. Gorgeous custom wood paneling in the office & throughout. Extensive storage incl laundry room with 2 washers & dryers, mud room & very large pantry in the huge basement. Two bright secret rooms add to the charm! Diving pool with newer commercial grade filtration system & poolside half bath. Peach, lemon, grapefruit trees. Large court for sports or riding bikes. 4 of the 5 A/C units are less than 1 yr old.

36001 S Moreton Road Wickenburg, AZ 85390

$2,700,000
3 Beds
3 Baths
2,552 SqFt
Status Active
MLS # 6744469
Property Type Single Family Residence
Price Type --
Hidden Hacienda, Wickenburg's Premier Team Roping and RV Camp Destination. Private, quiet, crisp and clean! 22+ Acres, contiguous to state land. Property available turnkey with tools equipment and furnishings. Secluded hilltop 3 bedroom, 3 bath home overlooking the property. 150 x 300 Roping Arena with Sprinkler System. 28 Covered Horse pens. 7 Stall Barn with turn outs and Tack Room. 60' Panel Round Pen. Outside pens approximately 180' x 40'. Covered Hay Storage and Connex Tool Shop. RV Camp and Club House is county approved and permitted in 2016 offering 110, 30 & 50 amp, plug-ins at each pedestal, water and septic. Club House offers an open-air lounge, two commercial washers and dryers, a commercial ice maker, two bathrooms, one with handicap accessible custom tile show Custom Cabinetry and furnishings. Home has an expansive and very private back yard, new roof and fresh interior and exterior paint as well as new tile and carpet. Property available turnkey with tools equipment and furnishings. Acreage available near the home to build additional shop or barn as well. Property Owned and offered for Sale by Arizona Licensed Real Estate Broker. 4 Parcels Available: 201-13-001-B, 201-02-002M, 201-02-002L, 201-06-005-D. Purchase 22 Acres or 12+ Acres THE ADDITIONAL 10 ACRES BORDERS STATE LAND, IS A PREMIUM LOT AND IS ZONED RCU-2A! MUST SEE Please see Turn Key list of Equipment to convey.

10751 E Candlewood Drive Scottsdale, AZ 85255

$2,700,000
3 Beds
3.5 Baths
4,440 SqFt
Status Active
MLS # 6692218
Property Type Single Family Residence
Price Type --
Nestled in the Windy Walk Estates of Troon Village, with Troon Mountain as its backdrop, extensive mountain and city views as well as a private backyard oasis, this expansive custom home is a must see in order to truly appreciate all it has to offer. The large and recently updated primary suite and balcony afford panoramic views while the extra large covered patio and outdoor fire pit create the perfect opportunity to enjoy private outdoor living at its finest. Step into the inviting ambiance of 4440 sq ft of soaring ceilings, authentic French Oak hardwood flooring, two way fireplace, 1000 bottle wine room, two pantries. Updated kitchen with sleek lines, SS appliances/Viking range, large island, breakfast bar and eat in kitchen overlooking the backyard's sparkling heated pool and spa.

5560 E Stella Lane Paradise Valley, AZ 85253

$2,700,000
3 Beds
3 Baths
2,501 SqFt
Status Active
MLS # 6756352
Property Type Single Family Residence
Price Type --
Welcome to Paradise Valley! Where luxury meets breathtaking beauty at Mountain Shadows Resort. This exquisite residence offers panoramic views of the iconic Mummy Mountain from your own living room. The gourmet kitchen features top-of-the-line Wolf and Sub-Zero appliances, including a powerful gas stovetop and a Sub-Zero wine refrigerator, perfect for culinary enthusiasts and wine lovers alike. Nestled in the heart of Paradise Valley, Mountain Shadows provides exceptional amenities. Enjoy golf on meticulously maintained courses, relax in expansive swimming pools, and savor fine dining options—all within a guard-gated community that prioritizes your comfort and privacy. This is more than just a home; it's a complete lifestyle experience in one of the most desirable locations! Enjoy the gym at the Mountain Shadows hotel with your Citizens Club Membership that is included with your HOA fee. You also are given a 15% discount on food and gift shop items. And, almost 30% off the golf fees. This community is guard gated 24/7. Additional Member Benefits Sanctuary Resort Spa treatments Tennis, Pickelball 10 % Discount on Spa, Tennis and Pickelball There are NO billing arrangements, so payment is due at Sanctuary. Sanctuary Spa - Sanctuary Tennis - Joya Spa at Montelucia Citizens Club Members can utilize the Joya Spa at Montelucia (our neighbor to the west) and receive a 10% discount on spa treatments. There are NO billing arrangements, so payment is due at the spa. To book a treatment, the concierge at Mountain Shadows at and let them know you are a Citizens Club Member. Our concierge will make the booking and confirm back to you.

8563 E Tumbleweed Drive Scottsdale, AZ 85266

$2,700,000
3 Beds
3.5 Baths
4,116 SqFt
Status Active
MLS # 6760560
Property Type Single Family Residence
Price Type --
Immaculately stunning Rosewood home in gated Sierra Boulders of North Scottsdale, atop an acre of pristine land nestled within the natural desert surround. This premium homesite is located at the end of the community offering immense privacy while accentuating the homes open and bright design, soaring ceilings, hardwood floors, custom window treatments, impressive gourmet kitchen with opulent granite island coupled with a dine-in tabletop, custom wood cabinetry, craftsman range hood, stainless steel appliances and gas range. The open & elegant formal dining room lends an essential touch to family gatherings, daily living and planned events. A 20' pocketed-sliding-glass-door frames the majestic desert-by-design backyard inviting you to experience the warm sunrises, mountain views, sparkling heated pool & spa, water feature, modern-fire-flame, built-in BBQ, ramada and expansive covered patio. The spa-like primary suite offers a large oversized walk-in shower, soaker tub, his and her custom-closets, dual vanity, makeup vanity, separate water closet and an abundance of beautiful natural daylight. Adjacent you'll find a relaxing and well organized library/den with custom Stone Creek built-in cabinetry, tray ceiling with crown molding and retractable sliding glass wall allowing for a serene and pleasant retreat. Just down the hall you'll find two large ensuite bedrooms with walk-in closets. The powder room is appropriately located off the foyer near the storage and coat closet. The walk-in pantry offers a well organized space with plenty of visible shelving for storing and accessing necessities. You're sure to appreciate the spacious laundry room with custom cabinetry, wash basin and ample storage. The temperature controlled, oversized 3 car garage abuts the expansive paver driveway with additional parking and turn around area. This luxury residence is conveniently located near the Boulders Golf Resort and Spa. The Carefree Town Center is just minutes away, making it an appealing option for those seeking a special property with resort-like amenities, excellent dining and shopping nearby.

9290 E Thompson Peak Parkway Unit 444 Scottsdale, AZ 85255

$2,700,000
4 Beds
4.5 Baths
4,538 SqFt
Status Active
MLS # 6750976
Property Type Single Family Residence
Price Type --
Full of character and grace this desirable custom estate boasts mountain views with amazing indoor outdoor living spaces. Situated perfectly on a private corner lot in the heart of guard gated DC Ranch Country Club, the inviting front porched entry with water feature welcomes you to a spacious open living area and kitchen. Sprawling outdoor living area to the east boasts a heated diving pool and spa, covered outdoor living area with extended dining space perfect for entertaining, fireplace/sitting area, and built in BBQ. On the North side of the property enjoy a generous artificial turfed area with beautiful mature landscaping. This well-designed split bedroom plan, with a private large guest suite and bathroom offers a covered patio and is split from two ensuite bedrooms. Additional refrigerator is located in the laundry room

461 Rockrimmon Circle Prescott, AZ 86303

$2,700,000
4 Beds
6 Baths
6,125 SqFt
Status Active
MLS # 6745528
Property Type Single Family Residence
Price Type --
Luxurious Living!This exquisite home nestled in The Ranch of Prescott designed with meticulous attention to detail.Greeted by a grand entry,flows into an open concept living area perfect for entertaining.Gourmet kitchen is a chefs dream,w/high end appliances,custom cabinetry,large island.Great Room w/expansive windows,offers breathtaking views of the surrounding landscape,creating a serene&peaceful ambiance.Luxurious primary suite is a private retreat,complete with spa-like bathroom&spacious walk-in his&herclosets,sitting room.Additional bedrooms are generously sized,w/en-suite bathroom, ensuring privacy&comfort for guests or family.State of the art home theater,spacious family room,full kitchen,for entertainment&family get togethers,expansive deck, where you can enjoy panoramic views Step outside onto the expansive deck, upstairs and the lower level where you can enjoy panoramic views of the lush, rolling hills and stunning natural beauty. The outdoor space is perfect for hosting gatherings or simply unwinding with a glass of wine as you take in the spectacular sunsets or relax in the hot tub and enjoy the warmth of the firepit. Every detail of this home has been thoughtfully designed to offer the finest in luxury living. Amenities List is available upon request. Don't miss the opportunity to make this your dream home

14438 E Shadow Canyon Drive Fountain Hills, AZ 85268

$2,700,000 - 4Br/4Ba -  for Sale in Shadow Canyon At Sunridge Canyon, Fountain Hills
Open House
$2,700,000
4 Beds
4 Baths
4,486 SqFt
Status Active
MLS # 6710679
Property Type Single Family Residence
Price Type --
Contemporary SW with panoramic views of the Superstition Mtns, Red Rock & the McDowells from your own mountaintop sanctuary. Sunrises over 4Peaks Mtn and its colorful end to your day will spoil you for anything else. Enter a gated courtyard with multi-level water feature and Koi Pond, to a massive entry with iron doors. The interior structure was artfully engineered so that views are unimpeded, with a 20' center-point ceiling and beams. The focal point of the living area is an ASID award winning media wall built on a radius that seamlessly incorporates the stone fireplace, custom lighting and media storage. An electronic, 20' x 10', 4-panel door fully pockets to feature the views, the massive patio, outdoor fireplace, grilling area, pool and spa for seamless indoor-outdoor enjoyment. SOPHISTICATED INTERIORS: The Carcacol design of the iron doors is repeated in a pattern on the floor and is known as Circles of Love. ASID award-winning media center is of Zebra Wood in a radius design that ties seamlessly into a stacked stone gas fireplace with special art lighting High-end Entertainment System is easily accessed to rear equipment room and includes Pioneer, Integra, JVC, Harmon/ Karden, Contour, NHT Contemporary art chandeliers and fans 20' ceilings in great room with massive beams Soaring 12' - 20' ceilings throughout 8' Interior solid wood doors Custom Maple cabinetry in specialty finishes throughout the entire home Plenty of wall space for art with tons of directional lighting to highlight every piece Travertine style tile flooring with Granite accents 10' x 20' mechanical, fully pocketing slider doors at the great room patio with clerestory windows Elegant guest bath features Palladio Granite counters, a Rajah Slate wall, art glass bowl, natural stone, and glass W/I shower as well Toto commode DINING AND ENTERTAINING: Stunning Dining Room offers two sets of French doors to outdoor dining/kitchen space Butler pantry with a dishwasher - tuck the dishes away and shut the door Perfect size table for large groups or a better party Sunny breakfast nook KITCHEN FOR THE MOST CREATIVE CHEF: Dacor 6-burner cooktop with oversized Thermador double ovens, warming drawer, and built-in microwave Sub-Zero side-by-side refrigerator/freezer Bosch dishwasher Presentation-style kitchen features a massive center island of Uba Tuba Granite Murano Glass pendants light the islands and peninsulas There is a convenient relationship between the open kitchen and the adjacent bar and breakfast nook, all featuring granite peninsulas perfect for hosting a large crowd Wet bar area has plenty of glass and bar storage, Uline wine cooler, Uline beverage cooler, GE Monogram ice maker plus tons of counter space Double kitchen sink and two bar sinks, each with Grohe faucets Butler's pantry has tons more cabinetry with Granite counters sink and a Bosch dishwasher Walk-in pantry room with floor-to-ceiling shelving MASTER BEDROOM AND GUEST SUITES: Primary Suite features 10' x 15' double sliding doors to a private patio sculptured into the native rock. * Double vanity features custom cabinetry with Verde Fuoco Granite counters * Towel warmer * Jetta tub with slate surround and picture window to enjoy the beauty of the rock surroundings * Slate walk-in shower offers multiple shower heads and sprays * Huge closet features custom rod space with plenty of shelving and drawers * Two private toilet rooms, each with Toto commodes Two Additional Guest Suites * Guest suite one - offers a large walk-in closet, full bath, clerestory windows, and patio access * Guest suite 2 - offers a bath with natural stone and glass W/I shower with seating Two Additional Flex Rooms for Office/Den/ Guest Rooms * Front Den/Exercise Room overlooks the front courtyard * The rear office is convenient to the primary suite and makes a perfect den with access to a private patio. The built-in cabinets have replaceable doors for a full closet if desired OUTDOOR SPACES: Serene, gated courtyard offers a multi-layer rock water feature and beautiful Koi Pond Uniquely designed Carcacol style iron doors feature a 10' radius top iron and provide a stunning entry statement The home is artfully tucked into the natural rock walls of the hill-top site There are multiple outdoor dining and seating areas Outdoor Kitchen features a Viking Grill with side burner Heated pool and spa feature an automated cover Seamless indoor/outdoor living space w/fire pit ADDITIONAL QUALITY TOUCHES: Three-bay garage with cabinets, epoxy flooring, additional storage closets, and a GE Monogram refrigerator/freezer. Laundry/utility room has access from the hallway into the primary closet and features an Electrolux washer/dryer, Granite counters, tons of cabinetry, hanging space, and a media screen Central vacuum Motorized external sunshades

20605 E Pummelos Road Queen Creek, AZ 85142

$2,699,995 - 4Br/4Ba -  for Sale in Bridle Ranch, Queen Creek
Open House
$2,699,995
4 Beds
3.5 Baths
4,341 SqFt
Status Active
MLS # 6673191
Property Type Single Family Residence
Price Type --
***Toll Brothers' Award Winning Model Home!! Photos of actual Model Home*** Model is sold as is with all furniture included! Exclusive Gated Community located near Queen Creek Marketplace and award winning schools. All single level homes on very large homesites. This home sits on a half acre with mountain views, plenty of privacy and is right across from our beautiful park. Our award winning model has every luxury you would expect from an award winning luxury builder. Detached super garage for RV or toys which is also heated and cooled for all your entertainment needs. Front and backyards rival any resort with kitchen, firepits, expansive seating, covered patios, Olympic lap pool and more. Split floor plan with very spacious rooms and very large walk in closets at primary bedroom.

10865 W Golddust Drive Queen Creek, AZ 85144

$2,699,000
5 Beds
4.5 Baths
4,615 SqFt
Status Active
MLS # 6725555
Property Type Single Family Residence
Price Type --
SPORTS COURT*CASITA*DETACHED GARAGE*POOL - Nestled in the exclusive, gated community of Santo Vallarta in the foothills of the San Tan Mountains, this custom home is a true gem. Boasting five bedrooms, 4 1/2 baths, and a dedicated office, the main residence offers spacious and elegant living. Additionally, there is a guest house complete with its own 2 car garage, separate bedroom, spacious kitchen and living area with private entrance - perfect for visitors or extended family. The interior offers a chefs kitchen with large island, stainless appliances, lots of cabinetry and opens to the family room. The split floorplan allows for privacy and plenty of room for any size family. Enjoy the AZ sunsets on the patio while in the pool or playing on the sports court.... The newly installed turf, built in grill area and the fire pit are added bonuses as you entertain your family and friends. Owned solar, additional parking pad, almost an acre of land and an additional 30ft behind the home make this a rare find!

Leave a Reply

Your email address will not be published.