Mortgage Interest Rates Reverse Course in 2017

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase. Some thought we could see rates hit 5-5.5% by the end of the year.

However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by Freddie Mac). Here is a graph of mortgage rate movement since the beginning of the year:

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

Projections still call for an increase…

Four major entities (Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors) are still projecting that rates will increase by the fourth quarter of the year.

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

Bottom Line

No one knows for sure where interest rates will be in six months. However, if you are thinking about buying your first house or trading up to the home of your dreams, you can still get a mortgage at historically low rates RIGHT NOW.  Give me a call to get started.  J.P. Cook – 602-320-4253.

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6659 E Indian Bend Road Paradise Valley, AZ 85253

$18,974,888
8 Beds
16 Baths
26,393 SqFt
Status Active
MLS # 5725463
Property Type Single Family - Detached
Experience this brand new, meticulously designed custom estate, located in the safety & privacy of an exclusive guard-gated community. Enjoy a large acreage estate feel, with low maintenance, energy-efficient, inexpensive upkeep. This 8 bed, 16 bath unique layout offers large living on a smaller footprint with refined elegance & unparalleled construction quality by utilizing concrete and steel. This is a unique opportunity to select your own finishes. A magnificent piece of design & classical architecture offering an abundance of amenities: 20-car collector's garage, 2 separate guest houses, dining room surrounded by water, indoor & outdoor pools, swim up bar, multipurpose shooting range, bank vault, salon, wine tasting room & cellar, home theater, indoor/outdoor living areas & more!

8100 N 68th Street Paradise Valley, AZ 85253

$18,000,000
5 Beds
7.5 Baths
17,912 SqFt
Status Active
MLS # 5701342
Property Type Single Family - Detached
Romantic Urban Villa in the heart of Paradise Valley. This palatial Mediterranean estate is a master class in what can be achieved with the worlds finest materials, a renowned team of artisans, and an unlimited budget.Designed by Juan Sandoval following the format of 17th Century Colonial architecture, but with every modern convenience. This magnificent home is unparalleled in its construction quality and architectural precision. Every 2 acre part of this estate was designed and built in over a ten year period. Two spectacular central courtyards. One for gardens and fountains, the other for a stunning 60X60 foot pool. The design of the home guarantees beauty from every room, and a level of security unmatched by even the most advanced technology. DO NOT MISS MOTION VIDEO!

5335 N Invergordon Road Paradise Valley, AZ 85253

$16,950,000
6 Beds
13 Baths
25,851 SqFt
Status Active
MLS # 5676395
Property Type Single Family - Detached
Simple words cannot describe an estate of this stature. The polished elegance and imposing beauty are what movies are made of, and it's easy to imagine many a movie being filmed in this magnificent showpiece. The rooms are so luxurious and so unique, it's impossible to convey the grandeur without seemingly exaggerating, and to say that this mansion is constructed with quality materials is a massive understatement, as it has been built with commercial standards and engineering that are rarely, if ever, seen in residential construction. If that doesn't get your attention, the 25-person elevator sure will, serving as a focal point so spectacular that it will take your breath away. Impeccable custom design adorns every inch of this palatial residence, including a full home theatre, lavish two

8055 N Mummy Mountain Road Paradise Valley, AZ 85253

$16,500,000
7 Beds
12 Baths
25,416 SqFt
Status Active
MLS # 5165200
Property Type Single Family - Detached
Lush, mature landscaping, hand-laid stone walls, and artistic wrought iron accents line the guest drive of this impressive 5-acre Mediterranean estate. Architecturally designed by Erik Peterson and custom built by Desert Star Construction, this magnificent estate boasts 7 bedrooms, 12 bathrooms, a detached 2-bedroom guesthouse, a free-standing 1,800 square foot fitness facility, a tennis court and more than 25,000 square feet of incomparable Arizona living. Showcasing the very best in home entertainment, this grand estate's lower level is comprised of a private theater with tiered seating, ultra modern music room with pro lighting package, a recording studio and a custom-designed instrument showroom.

New River AZ 85087

$16,000,000
4 Beds
2 Baths
19,161 SqFt
Status Active
MLS # 5584412
Property Type Single Family - Detached
AMAZING OPPORTUNITY TO OWN 32 ACRES TOTAL NORTH OF ANTHEM OUTLETS. BORDERS I17 FRONTAGE ROAD. C3 Zoning. Fantastic location. Please DO NOT bother anyone on property. Recent appraisal meets value. Willing to sell 8 Acres South of Nursery separately. Seller will finance! Thank you.

19920 W Verde Hills Drive Wickenburg, AZ 85390

$14,900,000
3 Beds
3.5 Baths
5,365 SqFt
Status Active
MLS # 5685013
Property Type Single Family - Detached
Powell Ranch sits on a plateau providing 360 views, with 538 deeded acres and grazing leases from the state on over 2,200 contiguous acres (all fenced). Designed by architect Bill Otwell, the 5,365 SF Santa Fe style main house with 3BR/3.5BA, office and media room is constructed of 18 thick adobe walls covered with cement plaster. 9'+ ceilings are unique - stripped Aspen poles above giant pine beams, 4 fireplaces, 3 fountains & lush landscaping. 1,066 SF guesthouse is 2BR/1BA; 2,200 SF detached garage/workshop fits 3 cars, RV, storage and 1/2 BA. Equestrian facilities include a large arena, 4 outdoor stalls/corrals w/auto water (3 shaded), covered hay storage, tack room, horse wash, and 60' round breaking pen. See Documents section for details.

7004 N Invergordon Road Paradise Valley, AZ 85253

$13,950,000
6 Beds
10 Baths
15,000 SqFt
Status Active
MLS # 5716629
Property Type Single Family - Detached
This sprawling, private appx 5 acre mountainside estate boasts 15,000+ square feet & offers 6 bdrm suites, 10 baths & includes almost every imaginable detail to class & quality one could dream of. Exquisitely appointed with custom light fixtures; beautiful flooring throughout; stone carved Italian marble columns; incredible chef's kitchen; butler pantry; game room; wine tasting room & storage room for 1400+ bottles; custom office; sound proof 12 seat home theater; private gym; oversized pool w/see through viewing area from lower level family/game room; fire pots; a beautiful mountainside waterfall & a separate guest/housekeeper/chef quarters.This estate features incredible indoor/outdoor entertaining with absolutely amazing southern views & some of the best sunrise and sunsets in all of AZ

5837 N Palo Cristi Road Paradise Valley, AZ 85253

$13,400,000
8 Beds
9 Baths
14,458 SqFt
Status Active
MLS # 5780430
Property Type Single Family - Detached
This masterfully designed and privately gated palatial estate is situated on roughly 5 acres of manicured grounds in PV and offers breathtaking views of the world famous Camelback Mountain's Praying Monk and Piestewa Peak. This majestic one-owner estate underwent a multiple year construction process because of its unrivaled attention to architectural details and handpicked finishes that were inspired from the Versailles in France. From its romanesque water fountains, imported grand staircase, marble fireplace surrounds, polished marble floors, hand carved limestone columns, hand-woven silk wallpapers, coffered ceiling, to gold fixtures and custom cabinetry throughout. click for more supplemental info.

9625 E Aw Tillinghast Road Scottsdale, AZ 85262

$12,500,000
6 Beds
8 Baths
11,250 SqFt
Status Active
MLS # 5689418
Property Type Single Family - Detached
Timeless contemporary estate that was inspired with an unlimited budget, a blank canvas for architectural creativity and a one-of-a-kind site with views of the entire southern horizon. A visionary and profound architectural statement with intersecting radial and linear forms built to commercial construction standards. The pioneering roof design features 'folded plates' of copper that perfectly blend the home into the natural desert surroundings. Interior details include Hope Steel doors, limestone flooring, dry-stacked sandstone fireplace surrounds and custom copper details and trim around every window, doorway and wall. The site provides 270 degree, top-of-the-world sunset, city light and mountain views from 16 hilltop acres at the apex of Lone Mountain in Scottsdale's Desert Mountain.

20724 N 112th Street Scottsdale, AZ 85255

$10,500,000
5 Beds
5.5 Baths
12,132 SqFt
Status Active
MLS # 5749929
Property Type Single Family - Detached
This exquisite Modern Mediterranean home sits proudly in the Upper Canyon of Silverleaf and is uniquely designed to capture endless city views and surrounding mountains. Architect Dale Gardon and American First Builders is creating one of the most spectacular homes built in Silverleaf. Amenities include 5-6 beds, 7 car garage, estate pool/spa, outdoor cabana, interior basketball/sport court, indoor/outdoor kitchens, theater, family entertainment rooms, multiple sliding door systems, large master suite and separate guest house. The hardwoods, stone, and finishes compliment the warm modern interior and exterior. Uniquely designed with timeless architecture, this home has been tailored to compliment a lifestyle that demands security, quality, value and comfort. Completion date Spring 2019.

7425 N Ironwood Drive Paradise Valley, AZ 85253

$10,490,000
6 Beds
10 Baths
12,263 SqFt
Status Active
MLS # 5683246
Property Type Single Family - Detached
Renowned architect Brent Kendle brings a new level of contemporary artistry to this thoughtfully redesigned Paradise Valley Estate.  Capturing a timeless-understated elegance with the idea that the design was not created for the trend of the moment but rather for generations to enjoy.  Simply stated, the home is tasteful without being boastful.  This 12,000+square foot contemporary desert jewel resides near the base of Mummy Mountain on more than 2 acres, maximizing stunning mountain views, abundant natural light and the opportunity to showcase an extensive art collection.  Each space is defined by incredible architectural installations and includes a main house with 4 bedrooms, 4 bathrooms and 3 powder rooms, a 250 plus bottle wine room, the

9364 E Skyline Trail Gold Canyon, AZ 85118

$9,995,000
10 Beds
14 Baths
22,740 SqFt
Status Active
MLS # 5564406
Property Type Single Family - Detached
One of the most spectacular homes in the entire valley. Featured on FOX 10 Cool House Segment. Located in the 24 hour private guard gated community of Superstition Mountain Golf and Country Club. This beautiful estate is set on two home sites and located on the highest hillside point in the community with 360 degree views for miles of the city lights, sunsets, entire Superstition Mountain Range, surrounding mountains, and lush meandering golf course fairways. This spacious and luxurious estate is comprised of over 22,000 livable SF which include a separate 2000SF guest house; Expertly designed with luxurious custom finishes and attention to detail through out. Spacious great room with electronic disappearing walls of glass which allow for seamless indoor and outdoor resort style living;

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