Fed Monetary Policy: No Rate Increase in June

According to its post-meeting statement issued Wednesday, the Federal Open Market Committee of the Federal Reserve voted not to increase its target federal funds rate. The target federal funds rate will remain at 0.250 to 0.50 percent.

Based on review of current and anticipated financial and economic events, the Committee cited slowing job growth and momentum of inflation-based compensation as reasons supporting its decision. While the national unemployment rate recently fell to 4.70 percent, FOMC members saw room for growth in employment. Unemployment rates are calculated based on active workforce members and do not include those who are under-employed or who have left the workforce. Global influences on the Fed’s monetary policy include uncertainties about China’s economy and the possibility that the United Kingdom may exit the European Union.

Housing markets and household spending improved, but the Fed cited lagging business investment and dismal jobs growth as concerns that led to a unanimous decision not to raise the federal funds rate.

Analysts characterized FOMC members as being “dovish” as compared to previous meetings. Only one member expected a single rate increase this year at the April meeting, but six members expected only one rate increase at June’s meeting.

In a post-statement press conference, Fed Chair Janet Yellen said that while a rate increase is possible at FOMC’s July meeting, she noted that there is no post-meeting press conference scheduled, which would make it more difficult for the Fed to explain its decision. Analysts also said that a rate increase is unlikely in September in advance of national elections in November.

Inflation remains below the Fed’s goal of two percent and is expected to do so for the short to medium term.

Fed Chair Cites Changing Economic Conditions, Forecasts Incremental Rate Hikes

Fed Chair Janet Yellen said during her post-meeting press conference that current economic conditions indicate that gradual rate hikes are needed to ensure ongoing economic growth. Rate hikes, when and if they occur, would increase very slowly and are expected to remain “accommodative.”

Clair Yellen said that each FOMC meeting is “live,” which means that meeting agendas and actions can flex according to current developments that influence monetary policy. The FOMC has repeatedly said that its decision-making is primarily based on members’ constant evaluation of developments affecting domestic and global economies.

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13747 W Villa Ridge Drive Sun City West, AZ 85375

$498,900

2 Beds

2 Baths

2,283 SqFt

Status Active

MLS # 6611449

Property Type Single Family Residence

Price Type --

This home is perfect for the entertainer in you or if you are just looking for a little more space. This home has updated features throughout. With upgraded lights and fans to the custom window shades in all rooms. Tile floors laid diagonally for that special look. With the large cathedral ceilings and full hookup for surround sound, this open living space is a true joy. A kitchen that boasts granite countertops and all Stainless Steel appliances. Dual ovens which will make putting together that fantastic event much smoother. Master Bedroom has a wonderful bay window for that relaxing space for your favorite book. If you love your outdoor space this home has one covered patio right outside the kitchen for that morning cup of coffee and the back patio which will allow you to enjoy our wonderful winter weather. Brand new cabinets installed in the garage with new epoxy flooring. Home was completely painted on exterior in 2020. If you are a golfer you are a very short walk to Echo Mesa Golf Club. This home is move in ready.

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14130 W Desert Glen Drive Sun City West, AZ 85375

$498,900

3 Beds

2 Baths

1,996 SqFt

Status Active

MLS # 6664170

Property Type Single Family Residence

Price Type --

Absolutely Stunning Golf Course Lot w/Amazing Views of Both Golf Course and Lake, 3 Bedroom, 2 Bath, Single Level Home, Open Kitchen w/Granite Countertops, Smooth Cooktop & Wall Oven, Breakfast Bar, Appliances Included, Eat-In Kitchen Dining, Spacious Greatroom w/Gas Fireplace, Formal Dining Room, Master Bedroom w/Walk-In Closet, Master Bathroom w/Dual Sinks & Separate Tub & Shower, Enclosed Gigantic Arizona Room w/Views Galore of the Open Golf Course, Professionally Landscaped Front & Backyard, 2 Car Garage, New Roof in 2017, New A/C Unit 2018, HOA Includes Front Yard & Common Area Maintenance, 3rd Bedroom Used as Den/Office, Come Check It Out!

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1040 Lorenzo Sitgreaves Drive Show Low, AZ 85901

$498,900

3 Beds

2 Baths

1,680 SqFt

Status Active

MLS # 6681665

Property Type Single Family Residence

Price Type --

Charming 3 bed, 2 bath home located in the quiet neighborhood, Show Low Bluff. True pride of ownership shines throughout. Cozy up next to the fireplace or entertain your family & friends with it's open concept layout. With multiple skylights in the main living areas, natural light pours in. The Primary bedroom is split from the others & has an inviting ensuite bathroom & oversized walk-in closet. The home is on a .21 lot, with beautiful easy-care landscaping in the front & back! The backyard is fully fenced & features a covered deck, artificial grass, a pergola, & a shed with power to it. with the 2-car garage you are able to keep your cars out of the elements. This lovingly cared for home is truly a one-of-a-kind option for your White Mountains dream, schedule an appointment today! The covered back deck has 3 roller shades that come down, so you can keep enjoying the cool mountain air, when the sun is setting! Don't forget to look up while in the garage, there is additional storage space great for keeping your items organized. There is a doggy door in the Laundry Room which leads into the Garage - there is another doggy door in the wall in the Garage which leads into the fenced backyard. Smart Home Ready. 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!

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16918 W Beth Drive Goodyear, AZ 85338

$498,525

3 Beds

2.5 Baths

2,406 SqFt

Status Active

MLS # 6613028

Property Type Single Family Residence

Price Type --

Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6613028 January Completion. The Glenstone at Lucero Discovery is a sweeping home designed for comfortable living in style. Step through the charming front porch that leads you into the welcoming foyer. From there, the study offers you an array of options and guides you into the heart of the house—an open-concept space featuring a great room, kitchen with island, dining room, and outdoor living area. The convenience of a 2-car garage, entryway, and powder room adds functionality to the main floor. Make your way up to the second level to find two bedrooms with a shared bathroom and the luxurious primary suite with a roomy walk-in closet. Structural options include: study in lieu of flex , pavers at front porch, 8' interior doors, and soft water loop.

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20637 N 31st Drive Phoenix, AZ 85027

$498,444

4 Beds

2 Baths

1,488 SqFt

Status Active

MLS # 6686028

Property Type Single Family Residence

Price Type --

Four bedrooms, high ceilings, living room, kitchen counter are granite, neat and clean cabinet. The main bedroom has a bathroom designed with granite and beautiful cream /brown tile. The floor has cream-colored tiles—central heating and cooling system. The electrical bill is reduced by the solar partner program credit with APS. This gorgeous and nearly paradise garden is a rare gem in Deer Valley. The stunning fruit trees in the front and back are pomegranate and mulberry. There are two trees: one makes white mulberries, and the other makes yummy black mulberries. Quince tree brings a lot of fruit in the fall, including peach tree, fig, lemon, kumquat, mandarin, and red bloody orange. On the left side of the backyard is to plant your vegetables. In the front, you have rosemary and oregano The lilies, Bougainville, and roses flower so beautifully in the spring and autumn. The beautiful grass at the back is where your children will enjoy it, and imagine yourself sitting on the porch with a glass of wine, enjoying the waterfall from the fountain, and listening to the chip of the birds. Don't take advantage of this property. It is a rare gem of a bit of forest in the desert.

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9046 W Villa Maria Drive Peoria, AZ 85382

$498,400

4 Beds

2.5 Baths

2,190 SqFt

Status Active

MLS # 6652332

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous home in Star Summit! This well-maintained home offers 4 bedrooms and 2.5 bathrooms in 2,190 sq ft. Plus, the home has been recently remodeled! As you enter the home you will love the wooden rail staircase and soaring ceilings. The kitchen is gorgeous with modern cabinetry, Quartz countertops, stainless steel appliances, a pantry, and a kitchen peninsula with a breakfast bar. The great room is spacious with a ceiling fan and blinds. The primary suite is generous is size with a walk-in closet and an updated ensuite bathroom featuring a huge corner tiled shower and a dual vessel sink vanity. The remaining bedrooms are move-in ready! The covered patio is extended and complete with a ceiling fan! All windows have sunscreens, they are in the garage! Do not miss out on this gorgeous home!

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4164 W Nora Drive San Tan Valley, AZ 85144

$498,135

3 Beds

2 Baths

2,232 SqFt

Status Active

MLS # 6688576

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom plus flex room with European kitchen layout, stainless steel appliances. Tile throughout except bedrooms, white cabinets granite counter tops.

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18217 W Cedarwood Lane Goodyear, AZ 85338

$498,000

2 Beds

2 Baths

1,891 SqFt

Status Active

MLS # 6687325

Property Type Single Family Residence

Price Type --

Welcome to this beautifully upgraded Cadence floor plan in the lake-inspired Active Adult community of CantaMia! This stunning property offers not only an open living space with no carpet but also a lifestyle filled with excitement and endless possibilities. As you enter through the front gate, you're greeted by a sprawling courtyard, perfect for entertaining or simply enjoying the outdoors. Inside, the kitchen is a chef's dream with granite countertops, matching backsplash, stainless steel appliances, and a large kitchen island also serving as a breakfast bar. The primary bedroom is a sanctuary featuring an oversized closet, granite counters, and a luxurious tiled walk-in super shower with a built-in bench. Flexibility is key with a versatile room complete with French doors located off the great room that can be used as a den, office, or guest room. Outside, the fully enclosed backyard offers privacy with block fencing and the added bonus of no homes behind, thanks to state-owned land. Enjoy the pomegranate, lemon, and orange trees, which add a touch of nature's bounty to the property. Plus, there is a wash across the street that enhances the sense of space and tranquility, keeping neighboring homes at a distance. Additional highlights include new plantation shutters, an oversized laundry room, a three-car split garage, water softener, and the convenience that all appliances convey. Don't forget about CantaMia's array of amenities. From heated pools and hot tubs to pickleball courts and billiards, there's something for everyone. Engage in card clubs, explore your creative side in the art studio, or stay connected in the IT center. With a 29,000 sq ft village center, fitness facilities, and a charming café, resort-style living is at your fingertips. Don't miss the opportunity to immerse yourself in the amazing lifestyle that CantaMia at Estrella has to offer. Come and experience the pinnacle of active adult living, where every moment is infused with excitement and possibility.

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12738 E De La Cruz Street Dewey, AZ 86327

$498,000

3 Beds

2 Baths

1,694 SqFt

Status Active

MLS # 6691424

Property Type Single Family Residence

Price Type --

Better than new! This stunning Quailwood home is turnkey and ready for you. 3 bedrooms and 2 baths, the Grand Teton model features a light and bright open floorplan. Beautiful cabinets and large kitchen island with granite countertops and stainless-steel appliances. Welcoming living room with attractive gas fireplace. Plank porcelain tile throughout and new upgraded carpet in bedrooms. Spacious primary bedroom with impressive walk in closet. Garage has epoxy flooring and storage cabinets. You will appreciate the instant hot water, and water conditioner. Low maintenance yard with paver patio and pergola for all day outdoor enjoyment. Attractive paver driveway. Enjoy the lifestyle of an affordable golf course community full of amenities like pickle ball, fitness center and tennis.

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1911 N 163rd Drive Goodyear, AZ 85395

$498,000

2 Beds

2 Baths

1,706 SqFt

Status Active

MLS # 6681542

Property Type Single Family Residence

Price Type --

Motivated Owner has done many upgrades to this Riveria model home since building in 2008. 2016 intereior painted, 2019 Hot water heater,and exterior painted, 2021 Trane HVAC system, PVC system, Security screen door, owner's suite main window replaced, guest bath solar tube to name a few! Home offers eat-in kitchen w/island, gas range, all appliances incld. Open floor plan with easy access to the fun outdoor entertaining area w/covered patio, lots of seating areas, built-in BBQ, fireplace, very private! Home offers 2 bed(owners suite w/own bath and walk-in closet, den w/doors, 2 car extended garage! Must see to appreciate! PebbleCreek is an Active Adult Community offering 3 golf courses, pickleball, bocce ball, tennis, theater and more!

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25657 N 185th Drive Wittmann, AZ 85361

$497,995

3 Beds

2 Baths

1,693 SqFt

Status Active

MLS # 6669478

Property Type Single Family Residence

Price Type --

The Bronze floor plan would certainly take home gold for design! This ranch-style home centers around an open layout with a dining area, a kitchen with a center island, and a great room with center-meet doors leading to the covered patio. The primary suite is adjacent, and showcases a generous walk-in closet and a private bath. Two bedrooms and a second bath complete the residence, which also includes an attached RV garage. You'll love the professionally curated fixtures and finishes selected by our design team!

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17708 W Silverwood Drive Goodyear, AZ 85338

$497,950

3 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6677807

Property Type Single Family Residence

Price Type --

Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6677807 Ready March! Discover the Zafiro plan with 3 bedrooms and flex space. Enjoy curb appeal with a landscaped front yard and paver driveway leading to the porch. Perfect for entertaining, living space and covered patio are on one side, while bedrooms and flex room are on the other. Owner's suite offers privacy with walk-in closet, dual vanities, and walk-in shower. Located in a gated, active adult community with resort lifestyle in Estrella Mountain Foothills. Structural options include: paver front porch, multi-slide door at gathering, upgraded square corners, 5' baseboards, 8' interior doors, and pre-plumb reverse osmosis system.

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