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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20022 W Campbell Avenue Buckeye, AZ 85396

$554,890

3 Beds

2.5 Baths

2,405 SqFt

Status Active

MLS # 6742386

Property Type Single Family Residence

Price Type --

Beautiful single level home with designer finishes. Super functional floorplan. 16 foot center sliding doors.This home has a mailing address in Litchfield Park, 85340

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13827 W Junipero Drive Sun City West, AZ 85375

$554,800

2 Beds

2 Baths

1,612 SqFt

Status Active

MLS # 6709115

Property Type Single Family Residence

Price Type --

PRICE REDUCED! MOTIVATED SELLERS! Come see this private paradise home in the highly sought out Corte Bella Gated Community. Heated pool with water features, built in BBQ, extended covered patio with heaters and NEWLY installed misting system, NEW travertine pavers, privacy screen and fire pit make this backyard an entertainers dream. Very popular Arcada floor plan boasts 2 spacious bedrooms, a separate office, 2 gorgeous custom bathrooms, California closet in owners' suite. Kitchen has maple cabinets, recessed lighting, granite countertops. Garage includes plenty of storage cabinets and epoxy flooring. This home also features a BRAND NEW heating and cooling system, solar panels with LOW monthly payments, NEW variable speed pool pump and NEW pool filtration system. Book your tour TODAY!

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1019 S Agnes Lane Gilbert, AZ 85296

$554,500

4 Beds

3 Baths

2,296 SqFt

Status Active Under Contract

MLS # 6743065

Property Type Single Family Residence

Price Type --

Welcome Home! Cooley Station North is a highly desired, STUNNING, master planned community full of playgrounds, community pools, greenbelts and more. This is your chance to own a Gorgeous, former model home, built by renowned builder Fulton Homes, with upgrades and neutral tones throughout. Purchased from the original owner, this property shows pride of ownership! Enter the front door into a bright and open floor plan, with large family room. One bedroom with full bath downstairs and a split 3 bedroom layout upstairs for ultimate privacy. 12x24 tile floors, granite tops, glass/tile backsplash, and 42 inch oversized cabinets with LED lighting underneath. Butler station/coffee bar. The wrapped tile island gives the kitchen a beautiful touch! GE monogram gourmet appliances. HUGE glass door walk in pantry. Private master retreat includes a large soaking tub and walk in closet. Generous sized loft upstairs to sit back and relax. Large laundry room upstairs next to the loft with lots of storage and a sink. Large walk in linen closet upstairs. Zero maintenance patio with paver floors and turf! Includes built in BBQ station. Patio furniture conveys (hammock stand does not convey). Pidgeon proofed roof. Garage includes hanging storage racks, epoxy floors, and quiet lift master motor. The pool is a 30 second walk from the front door! Don't let this one get away, most homes for sale in Cooley Station North were built by another builder. There aren't many for sale by Fulton! Come view this one today!

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1451 W Golden Ore Pass Apache Junction, AZ 85120

$554,490

4 Beds

3 Baths

2,264 SqFt

Status Active

MLS # 6745331

Property Type Single Family Residence

Price Type --

Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created.

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2727 W Madero Avenue Mesa, AZ 85202

$554,400

3 Beds

2.5 Baths

2,175 SqFt

Status Active Under Contract

MLS # 6693352

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 3 bedroom plus den/office corner lot home located in Dobson Ranch where you can enjoy your very own private pool & putting green as well as access to 3 community pools, several parks, walking paths, lakes and so much more. This home has been renovated with shutters throughout, hardwood staircase with iron balusters, plank tile floors, recessed lighting in living rooms & kitchen, ceiling fans in every room, 3'' baseboard & trim, solid & hollow core 2 panel doors, 2.5 bathrooms all with Toto comfort height slow close toilets, tile showers, and deep soaking tub. Enjoy the view from your kitchen window overlooking the backyard pool and outdoor living space. The kitchen features granite counters, stainless sink and appliances with a breakfast bar open to the living room. This home is energy efficient with dual pane windows installed in 2007, lower level block construction and very well insulated, electric bills are very reasonable with 2 a/c units new in 2016. Come see for yourself.

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900 S Ridgeway Place Show Low, AZ 85901

$554,101

3 Beds

2 Baths

1,779 SqFt

Status Active

MLS # 6749221

Property Type Single Family Residence

Price Type --

Stunning 3 bed / 2 bath, split floor plan home is just about finished and ready for move in. It has all the desired upgrades of homes in more expensive communities around town but at a lower price. This fabulous 1799 sqft home sits on a one of a kind oversized (0.34 acre) lot that backs up to a large section of tract land designated as community common area. You will feel a sense of awe while dining with family or entertaining on the back deck with the unobstructed panoramic horizon view. The location is peaceful, quiet and safe for kids / pets because it resides in a cul de sac on a quiet street. This home has a large covered back deck, open kitchen with an island, an oversized (540 sqft) 2 car garage and a large lighted storage under the house capable of storing ATV's, 4 season outdoor equipment or used as a work / hobby area. The primary bedroom has access to the back deck, plus an inviting en suite bathroom with 2 vanities with quartz countertops and dimmable lights, a soaking tub, tiled walk-in shower and an oversized walk-in closet. The kitchen is a place to enjoy cooking and gather family. The window above the stainless steel farmer sink with disposal allows natural light in and a view of Porter Mountain. The upgraded stainless steel kitchenaid appliances (5 burner gas range with a pot filler faucet and hood, microwave, dishwasher & refrigerator / freezer) are surrounded by custom cabinets with pull out shelves and granite countertops. You'll step into the great room to find T&G vaulted ceilings, natural gas fireplace with a stone face and hearth, a dimmable wagon wheel chandelier that will be envied by your guests and diagonal luxury vinyl flooring that extends throughout most of the house. Other interior upgrades include: Moen faucets throughout; Upgraded carpet and pad in all the bedrooms; Tankless hot water heater; Programmable smart thermostat; Quartz & granite countertops and Energy efficient Milgard dual pane vinyl windows. Exterior upgrades include: Exterior doors have 3 point locking system for extra security, A gorgeous metal roof; Rain gutters with downspouts that drain into underground pipes to move the runoff away from the house; Front porch with Trex deck; Large covered back deck with Trex decking, T&G ceiling and natural gas line for BBQ; Paver driveway and walkway; A mud sink in the garage for washing small pets or dirty boots and Enough space in the back for an assortment of outdoor entertainment things like fire pits, horseshoes, etc. And then there's the additional community space behind the lot that provides more open space.

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2119 N Lake Shore Drive Casa Grande, AZ 85122

$554,077

4 Beds

2.5 Baths

2,558 SqFt

Status Active

MLS # 6698510

Property Type Single Family Residence

Price Type --

No other community offers golf course views with a private lake and clubhouse access! Spacious move-in ready 4 BD, 2.5BA home overlooking the golf course. Home is upgraded with the expected amenities such as fireplace, granite counters, upgrades though-out and loads of storage. Kitchen features plenty of cabinets and counter space and pass-thru to dining room with two sided upper cabinets with glass doors to display your best dishes. Island includes prep sink. Master bath includes two vanities, a jetted, walk-in tub and huge tiled shower, and walk-in closet with built-in shelving. Half-bath exit door to the pool area. Low maintenance backyard with pebbled surface diving pool, extended paver patio for entertaining. Sunscreens on all the windows. Owner/agent

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1 E Lexington Avenue Unit 609 Phoenix, AZ 85012

$554,000

2 Beds

2 Baths

1,126 SqFt

Status Active

MLS # 6739603

Property Type Apartment

Price Type --

Wonderful 6th floor condo in the resort style condo complex of One Lexington. Upon entry you will see the incredible views on Central Avenue through the two walls of windows. Kitchen is upgraded with BOSCH appliances, great pantry, and the entire unit has new luxury vinyl flooring, along with new HVAC and Refrigerator all replaced within the past two years. Includes full size washer and dryer in unit, and 75'' 8K Samsung TV W/ Harmon Kardon Speaker Bar. Complex has it all from concierge desk, secured entry/parking, community lounge, workout facility, heated saltwater pool/spa, outdoor BBQ area, and dog runs for your furry friends. HOA includes AC, hot and cold water and much more. Steps from the light rail with easy access to downtown, entertainment, sporting, museums, dining and mo

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19333 W Luke Avenue Litchfield Park, AZ 85340

$553,990

4 Beds

3 Baths

2,173 SqFt

Status Active

MLS # 6747237

Property Type Single Family Residence

Price Type --

Modern luxury coupled with stunning finishes make this new home one of a kind! Spend quiet mornings while sipping your morning coffee as the sunlight floods your great room every morning from your sliding glass door. Enjoy testing new recipes in the gourmet kitchen with modern black and white cabinets and gold hardware. Enjoy a spa like experience in your oversized Super Shower with floor to ceiling tile and spend a quiet evening in your private owner's refuge. Enjoy the durability of luxury vinyl plank flooring that can stand up to kids and pets! Work from home with ease or enjoy your favorite hobby in the Enclosed Study. This home features a private bedroom with it's own bathroom and linen closet, complete with a beautiful tiled shower. 2X6 CONSTRUCTION; NEW HOME WARRANTY

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2102 W Kuralt Drive Anthem, AZ 85086

$553,900

5 Beds

3 Baths

2,143 SqFt

Status Active Under Contract

MLS # 6740759

Property Type Single Family Residence

Price Type --

Fabulous single story home with separate entrance Casita (for multi-generational living, or spectacular office) in a lovely, quiet neighborhood! You'll love the gorgeous curb appeal with a gated courtyard. Light, bright open floor plan. Inside find 18'' ceramic tile floors, new carpet in bedrooms, plantation shutters and neutral color designer paint. Kitchen is open to family room with huge kitchen island, corian countertops, upgraded maple cabinets, huge pantry, stainless steel appliances. Primary features en-suite bathroom with remodeled custom walk-in shower, walk-in closet, designer window coverings and easy access door to patio. NEW A/C, sunscreens, & new Water Heater! Solar lease only $79.65 per month! WHAT A DEAL! Lease started 9/2012. Exterior boasts extended paver patio, low maintenance synthetic grass, plumbed gas pipe, and lush mature landscaping. Finished garage features extended cabinets for storage, sink, water softener and R/O. Close to Diamond Canyon Elementary, grassy parks, play parks and splash pad! Anthem Parkside Amenities include 16-acre park with catch-release lake, Pickleball, gym, skatepark, baseball, softball, tennis, over 37 pocket parks, hiking/biking trails, soccer fields, bocce ball, and so much more!

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3010 W Glenhaven Drive Phoenix, AZ 85045

$553,900

3 Beds

2 Baths

1,894 SqFt

Status Active Under Contract

MLS # 6686758

Property Type Single Family Residence

Price Type --

ROOF REPLACEMENT 2024! AC Compressor replaced 2024! Kitchen cabinets professionally refinished June 2024! Mountain views. Foothills Reserve. 3 spacious bd + den/office w/ built-in desk & Murphy bed! No steps! Wood plank ceramic tile floor throughout home w/ porcelain tile in bathrooms installed in 2023. w/ fresh beautiful interior paint. Kitchen features stainless steel appliances, white cabinets, granite counters, walk-in pantry & island bar stool seating. Primary bedroom, custom walk in closet, soothing spa like bath w/ garden tub, separate shower, & dual sinks. Enjoy amazing AZ weather in your serene yard. Top rated Kyrene Schools offers a personalized educational journey for every student, renowned for its commitment to academic excellence. Active Lifestyle trails galore. covered patio, impeccably groomed landscape, & side yard w/ gazebo. $65,000 in upgrades in 2023 include natural grass w/ sprinklers, gazebo w/ mister, pavers. landscape lighting w/ timers in the front & back, fire pit, 6 Ficus trees, 5 Bougainvillea, 3 bushes & 1 Citrus tree. Front yard upgrades include rock, deeper dry creeks, Ficus Tree, 12 bushes, lighting system on timer for landscape. Seller is offering $3,000 in closing costs. Home Warranty with Old Republic in place until February 2025. Epoxy style floor in garage, new remote, cell-based garage door opener system. Kyrene school district! Close to 202 freeway, Ahwatukee dining & shopping, South mountain hiking trails & so much more.

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22514 N Sonora Lane Sun City West, AZ 85375

$553,500

3 Beds

2 Baths

2,246 SqFt

Status Active

MLS # 6708249

Property Type Single Family Residence

Price Type --

Enjoy fabulous Sunsets and Views from this lovely home sitting on the 11th hole of Desert Trails Golf Course.--step inside the home featuring 3 bedrooms plus a den on a split floor plan. The master bedroom is large and expansive with a bay window, a remodeled master bath with dual sinks on a tall vanity, a walk-in shower, and new marble flooring. The kitchen boasts a large island with breakfast bar overlooking the family room. Granite countertops with custom backsplash and gas range surrounded by abundant cabinets and pantry. Crown molding throughout the home, new carpet, wood flooring w/plantation shutters on most of the windows. The guest bathroom has been remodeled with a new tiled tub/shower. 9.57 kw Solar System with assumable loan by buyer. Solar Monthly Payment $173.31 per month.

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