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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15314 W Camino Estrella Drive Surprise, AZ 85374

$555,000

3 Beds

2 Baths

2,298 SqFt

Status Active

MLS # 6686902

Property Type Single Family Residence

Price Type --

Furnished entertainer's dream home! This spacious home boasts an open layout w/vaulted ceilings. Gather around the cozy gas fireplace in the expansive Great Room w/plantation shutters. The kitchen is a chef's delight, featuring cherry cabinets w/crown, Corian counters & backsplash, pull-out drawers, abundant counter space + bkfst bar & table area. Retreat to the primary suite with a bay window, double sinks, closet organizers, tub, & shower. Den offers a built-in desk & shelves for a perfect work or craft space. Crown molding in many rooms. Step outside onto your large patio with BBQ kitchen, epoxy coating & a pony wall for added privacy. Plus, there's a charming front courtyard for additional outdoor enjoyment & sunset views. Garage w/cabinets, wkbnch & golf cart pkg. Fenced yard

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16143 W Charlotte Drive Surprise, AZ 85387

$555,000

3 Beds

3 Baths

2,160 SqFt

Status Active

MLS # 6752054

Property Type Single Family Residence

Price Type --

his brand new Fulton home, known for its quality and stunning designs, is ready for move-in! Featuring over $75K in premium upgrades, this bright and spacious great room plan includes 3 bedrooms, a den, and 3 bathrooms. Enjoy 9' ceilings, a gourmet kitchen with upgraded cabinets, granite countertops, and a custom backsplash. The split floor plan includes a large primary bedroom with a luxurious spa super shower in the primary bath, and elegant wood-look tile flooring throughout. Additional features include 2'' white blinds, ceiling fans, fully landscaped front and backyards, and a 3-car tandem garage. Situated in front of the park with a paver entry. his Energy Star certified home with Indoor airPLUS certification is conveniently close to the community pool, picnic area, tot lots, basketball and pickleball courts, and more. See Document for all upgrades.

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1619 E La Donna Lane Tempe, AZ 85283

$555,000

4 Beds

2 Baths

1,952 SqFt

Status Active Under Contract

MLS # 6731901

Property Type Single Family Residence

Price Type --

Discover this charming 4-bedroom, 2-bathroom home located in the heart of Tempe on a corner lot and north/south facing. Updates include a new roof installed in 2017, new AC in 2016 and dual pane windows. This house offers a modern kitchen with upgraded granite countertops and a convenient breakfast bar. The living room and family room make this home feel larger than the square footage reflects. The oversized backyard provides ample space for outdoor activities, entertainment and a side yard workshop area. Plus, there's the added benefit of no HOA fees! This home is the perfect blend of comfort and convenience, ready to meet all your needs.

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18663 W Vogel Avenue Goodyear, AZ 85338

$555,000

5 Beds

3.5 Baths

3,543 SqFt

Status Active

MLS # 6744673

Property Type Single Family Residence

Price Type --

Don't miss this large, ready to move into 2 story home at the end of a peaceful street. This stunning 5 bed 3.5 bath house offers all the space and privacy you might need. Rv gate leading to a HUGE backyard, 11,398 sq ft. of big for you to add a pool or make it all you dreamed of. The main floors primary suite is great for accessibility, and seclusion from the other bedrooms. Open floor plan with lots of natural light and space for everyone. Kitchen has granite counters, stainless Steel appliances, walk in pantry, and 42'' upper cabinets with beautiful crown molding. Front Office and formal dining room are in soaring vaulted ceilings with tons of windows and light pouring in. The Kitchen is a chef's dream, featuring granite countertops, stainless steel appliances, a walk-in pantry, and 42 upper cabinets with elegant crown molding. The front office and formal dining room have soaring vaulted ceilings and an abundance of windows. The previous owners smartly converted the tandem portion of the 3 car garage into a versatile office or workshop, with a sperate exterior entrance. This thoughtful modification adds to the home's square footage and provides a functional space for remote work or hobbies. With fresh interior and exterior paint, newer appliances, and pre-wired surround sound, this home is in excellent condition and ready for its new owners. Don't let this opportunity pass you by.

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9008 W Denton Lane Glendale, AZ 85305

$555,000

3 Beds

3 Baths

1,970 SqFt

Status Active

MLS # 6750257

Property Type Single Family Residence

Price Type --

MLS#6750257 Ready Now! The Sapphire in Stonehaven Encore was thoughtfully designed, offering 3 bedrooms, 3 baths and study. A spacious kitchen with a large island opens to the gathering room and dining area, perfect for staying connected with family or entertaining friends! A private bedroom is near the foyer - ideal for overnight guests. Primary suite is privately located in back of the home with dual sinks, large shower and walk in closet. Design upgrades feature whole house quartz counters, shaker cabinets, flooring, and lighting.

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24776 N 175th Avenue Surprise, AZ 85387

$555,000

3 Beds

2 Baths

2,112 SqFt

Status Active Under Contract

MLS # 6744146

Property Type Single Family Residence

Price Type --

2022 Platinum upgrade package (36k) Lennar built home situated on a mostly private lot due to drainage easement. You choose this home over a current Lennar new build for the upgrade list and incentives offered! Plantation shutters & smart drapes (11k). ADDED STORAGE- Garage floor-to-ceiling cabinets, Master walk-in built-ins & media center. (20k) Professionally transformed basic ''builder grade'' lot into a magazine worthy masterpiece boasting added irrigation system, raised flower bed rear yard perimeter low voltage lighting on automatic timer, Iron fountain w/timer & autofill, Patio overhang & Privacy panels. ($51k) Water softener ($3k)French doors added to 3rd BR/Den ($4K) Pendant lights & fans added throughout. Stunning kitchen features oxide quartz counters, island, pantry & gas cooktop. Laundry room features upper and lower cabinets, sink with oxide quartz counters. RING (professionally installed and monitored security system that includes front door camera, motion detectors and door alarms). Offering a 1y Platinum home warranty. 10k in seller paid closing cost +additional credits.

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20998 W Edith Way Buckeye, AZ 85396

$555,000

4 Beds

2.5 Baths

2,465 SqFt

Status Active

MLS # 6687452

Property Type Single Family Residence

Price Type --

Welcome to your new retreat in the heart of Buckeye! This modern haven boasts 4 bedrooms, 2.5 bathrooms, and a cozy, family-oriented living room seamlessly connected to a versatile den/playroom. The gourmet kitchen features top-of-the-line appliances and an inviting color scheme, perfect for culinary adventures and gatherings with loved ones. Nestled in a lush, family-friendly neighborhood, this vibrant home offers the perfect blend of comfort and style. With 2-year-old HVAC units and a newly upgraded garage opener, convenience and peace of mind are ensured. Step into the enchanting backyard oasis, complete with ample patio space for hosting get-togethers and creating cherished memories under the open skies. Thoughtfully designed for modern living, this home boasts bedrooms on the second floor for privacy and tranquility, while the main floor serves as a hub for entertainment and socializing. Located in a thriving community known for its quaint charm and family-oriented atmosphere, this Verrado gem invites you to experience the ultimate in comfort, style, and relaxation. Don't miss your chance to make this exceptional residence your own and embark on a journey of inspired living in one of Arizona's most coveted neighborhoods.

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18149 W Tina Lane Surprise, AZ 85387

$555,000

5 Beds

3 Baths

2,471 SqFt

Status Active

MLS # 6721022

Property Type Single Family Residence

Price Type --

Check out this home. 5 bedrooms,3 full bathrooms, Great room features an electric fireplace and open to the kitchen. Kitchen has a large island, tiled backsplash, walk-in pantry, granite countertops, pendant lighting, One bedroom and full bathroom downstairs. Primary bedroom and 5th bedroom have walk-in closets and barn doors. Have toys? RV garage ready for toys or for 2nd and 3rd cars or storage. Backyard offering a covered patio, pavers, a gazebo, & artificial turf. Check out the community pool and parks.

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2412 W Blue Sky Drive Phoenix, AZ 85085

$555,000

4 Beds

2 Baths

1,782 SqFt

Status Active Under Contract

MLS # 6753328

Property Type Single Family Residence

Price Type --

If you are looking for the home that has been upgraded, spotless & turn key - look no further! This single level, 4 bdrm, 2 bth home has it all. Fantastic floorplan along with all the tasteful upgrades one could imagine! Complete Oct 2021 forward. Luxury laminate wood floors throughout the home, granite countertops in kitch & all bthrms, all new appliances! Stainless Samsung side by side refrig, Samsung Electric stove, Mircrowave, Bosch top of the line dishwasher, wide single deep stainless sink. Bathrms all new plumbing fixtures, tile showers, new tub in master, new toilets. Ceiling fans in every room. Just replaced gas wtr heater & new HVAC compressor. Garage floor epoxy. AND backyard is an oasis. Faux grass, extended tile patio to accommodate BBQ, burners & refrig. W/D incl.

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10314 E Catalyst Avenue Mesa, AZ 85212

$555,000

3 Beds

2 Baths

1,980 SqFt

Status Active Under Contract

MLS # 6692278

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Eastmark! This stunning contemporary residence offers the perfect blend of luxury and functionality, and thoughtful design at every turn. As you step inside into the expansive open-concept living area, flooded with natural light and adorned with elegant finishes. Built in surround sound system! The kitchen is a chef's delight, featuring premium stainless steel appliances, sleek granite countertops, and ample storage space. Entertain guests effortlessly in the spacious dining area, or host cozy gatherings in the adjacent living room. Escape to the tranquil master suite, where relaxation awaits in the lavish spa-inspired bathroom complete with a soaking tub, walk-in shower, and dual vanities. Two additional bedrooms offer comfort and versatility, Step outside to your own private oasis, where a covered patio and lush landscaping create the perfect setting for outdoor enjoyment. Located in the highly sought-after community of Eastmark, residents enjoy access to a wealth of amenities including parks, playgrounds, community pool, and miles of scenic trails. With top-rated schools, shopping, and dining options just moments away, this is truly a place you'll be proud to call home.

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6146 E Quartz Circle Mesa, AZ 85215

$555,000

4 Beds

2 Baths

2,115 SqFt

Status Active

MLS # 6731888

Property Type Single Family Residence

Price Type --

Spacious 4 bedroom 2 bath home with an outstanding floor plan is located on a cul de sac street with less traffic and NO HOA. As you enter the home, you'll notice the openness with vaulted and 9 ft. ceilings throughout. There are 2 large living areas and dining rm. The kitchen includes a refrigerator and opens to the family rm with a cozy fireplace, 2 skylights, and breakfast dining area with views of the yard. Dual pane windows, ceiling fans and plantation shutters help keep you cooler in the summer. There are split bedrooms, with the primary being on the opposite side of the house from the others. The 4th bedroom is also separated and would make a great office, etc. The primary has access to the patio and yard, and has a good-sized bathroom with dual sinks and walk-in closet. The private backyard with no homes behind, boasts a large tiled covered patio, relaxing gazebo, and views of beautiful Red Mountain. On the way to the garage, you will notice the inside laundry room that includes a washer and dryer. The 3 car garage has a 9 ft ceiling, cabinets, overhead storage, and water softener. This well kept neighborhood is convenient to shopping, schools, and the 202 freeway.

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628 W El Pajarito Drive Wickenburg, AZ 85390

$555,000

3 Beds

3 Baths

1,824 SqFt

Status Active

MLS # 6633676

Property Type Single Family Residence

Price Type --

New Build right in the heart of Wickenburg. Only 3 Existing masonry walls remain from existing home, and everything else is brand new. All new electric, plumbing, and sewer throughout. pebble-tech Pool and all new pool equipment. Includes new Built-in BBQ area in back yard. New Roof and New HVAC unit - 4 ton package heat pump, 15 seer dual stage by Trane w/ Ecobee Thermostat controls. Home is spray foam insulated in all walls and ceilings, including the garage. Smart TV's and apple TV modules in every room. 2-channel amplifier, 8'' sub-woofer, and in ceiling speakers in Master Bedroom and Living room. House includes 16-zone security and surveillance system with push button key-pad. Ring exterior video doorbell, exterior video camera on back of house included

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