What’s Ahead For Mortgage Rates This Week – July 25, 2016

Housing Starts, Building Permits Issued Rise

Commerce Department reports on housing starts and building permits issued were released Tuesday. Housing starts rose to 1.189 million in June against expectations of 1.165 million starts and May’s downwardly revised reading of 1.135 million starts, Housing starts rose by 4.80 percent on a seasonally-adjusted annual basis. This is good news for housing markets, but analysts said that demand for homes continued to exceed available supplies.

Building permits issued also rose in June to 1.53 million as compared to May’s reading of 1.136 million permits issued.

Existing Home Sales Increase: National Association of Realtors®

Sales of previously-owned homes rose three percent year-over-year and reached their highest level since February 2007 in June. Existing home sales rose by 1.10 percent in June to a seasonally-adjusted annual rate of 5.57 million sales. Analysts forecasted a reading of 5.48 million sales of pre-owned homes based on May’s reading of 5.51 million sales.

Analysts said that first-time home buyers are returning to housing markets and helped boost June sales and cited changing buyer demographics that suggest a return to owner-occupant home sales. First-time buyers accounted for 33 percent of pre-owned home sales in July, which was their highest reading since 2012. First-time buyers are important to housing markets as their purchases of existing homes enable current homeowners to sell their homes to buy larger homes or to relocate.

Mortgage Rates Rise, New Jobless Claims Fall

Mortgage rates rose across the board last week according to Freddie Mac’s weekly report. Rates for a 30-year fixed rate mortgage averaged 3.45 percent, which was three basis points higher. The average rate for a 15-year fixed rate mortgage also rose three basis points to 2.75 percent; rates for a 5/1 adjustable rate mortgage averaged 2.78 percent. Discount points averaged 0.50 percent for fixed-rate mortgage and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims sustained their streak and fell last week to 253,000 against predictions of 260,000 new claims filed and the prior week’s reading of 254,000 new claims filed. Analysts hailed declining jobless claims as a strong indicator that the economy and labor markets continue to improve. New jobless claims have remained below the key reading of 300,000 for 73 weeks. The four-week rolling average of new jobless claims fell by 1250 claims to 257,750. This reading is considered less volatile than week-to-week readings and offers evidence of steady improvements in labor markets.

What’s Ahead

Next week’s scheduled economic news includes the S&P Case-Shiller Housing Market Index, readings on new and pending home sales and the FOMC committee’s post-meeting statement on Federal Reserve monetary policy decisions. Analysts widely expect the Fed to hold firm on its current federal funds rate of 0.25 to 0.50 percent.

Weekly reports on mortgage rates and new jobless claims will be released along with a reading on consumer confidence.

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228 E Saguaro Drive Florence, AZ 85132

$64,000

1 Bed

1 Bath

385 SqFt

Status Active

MLS # 6675199

Property Type Manufactured Home

Price Type --

Very well maintained 1987 Parkside Park model built by Champion Homes. The property is being offered fully furnished with a 9-hole executive golf course just up the road. All you need is your clothes. In Caliente, you own the land so no monthly lot rent. The Club House is just 2 blocks away and walking distance to the laundry, showers and one of four pools. This tastefully decorated home has a metal roof over composition roofing, an open floor plan, newer wood laminate flooring, large kitchen, and even central heating and cooling. Caliente Casa De Sol is a 55+ community and has a club for just about every interest, pottery, cards, pool tables and much, much more. 2-Pets are ok with 2 dog parks, 2 Pickle ballcourts, and horse shoes. Come check it out, this one will not last long.

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413 E Saguaro Drive Florence, AZ 85132

$63,900

1 Bed

1 Bath

400 SqFt

Status Active

MLS # 6671802

Property Type Manufactured Home

Price Type --

Beautiful 1986 Fleetwood Park Model fully furnished with everything. The home has electric AC and heat. The plumbing was upgraded to PEX, brand-new Electrical Post, new microwave and double metal roof . Plenty of room for entertaining with custom finish on the cement in carport, nice carpeting in the leaving room and bedroom with plenty of windows, a larger than normal kitchen, roomy bathroom, and storage . Caliente Casa De Sol is a 55+ park where you own the land no monthly fees. The subdivision boasts 4 separate swimming pools with showers, bathrooms, and sauna and 8 laundries appropriately placed throughout the community. Large club house with Full kitchen and about every club you can think of. Two pickle ball courts and even horse show pits. Come take a look, this one won't last long

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19081 E Palm Lane Black Canyon City, AZ 85324

$63,000

1 Bed

1 Bath

650 SqFt

Status Active

MLS # 6659024

Property Type Manufactured Home

Price Type --

Sunny, yesterday my life was filled with snow, sunny thank you for the sunshine bouquet..........Perfect winter / snowbird retreat or year round living! Lovely little RV park for 55+, monthly lot rent is $335.00 it includes water, trash, sewer and use of the laundry facility....yup you heard me right...only $335.00 a month! This delightful 1 bedroom, 1 bath manufacture home has been well taken care. All new plumbing, custom interior paint, decks at front entrance and deck at bedroom exit to enjoy the beautiful days plus 2 sheds. Nearly all furnishings stay with sale. Clean and cute and located on a large end space.

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2501 W Wickenburg Way Wickenburg, AZ 85390

$61,900

2 Beds

2 Baths

1,632 SqFt

Status Active

MLS # 6626947

Property Type Manufactured Home

Price Type --

Unique 2 bdrm 2 bath + den, ground floor home w/ built-on slab 3rd extension for 1632 sf of inside living space w/ plenty of windows. Fantastic curb appeal w/ rustic brick wainscot & wrap-around brick retaining wall for shrubs, a garden, use your imagination. 2-car carport w/ matching aluminum privacy lattice from ground to roof, site-built workshop, open patio w/ wood railing, great for grilling. Spacious living room w/ dining area, kitchen, pantry, inside laundry. Main bdrm w/ built-in dresser, plenty of closet space. Walk-in closet in 2nd bdrm. Full bathroom in common area. Comes w/ washer, dryer. Free Cox cable provided by Westpark. You'll just love this home in highly desirable Westpark 55+ active adult community w/ heated pool/spa, tennis, shuffleboard, fitness center, rec room.

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747 E Germann Road San Tan Valley, AZ 85140

$61,500

2 Beds

1.5 Baths

750 SqFt

Status Active

MLS # 6670594

Property Type Manufactured Home

Price Type --

Neat as a pin! This 2BR 1 1/2 bath home is quite unique. It's located on a large corner lot in Pleasant Valley, a 55+ Manufactured home park. It's all here, completely furnished down to the dishes and silverware. The kitchen is adorned with beautiful cabinets, tile counters, a new faucet and a quaint place to eat. There's even a formal dining room, den or office and a second bedroom that have been added with central air. Your washer, dryer, toilet and sink are housed in a super clean shed. There's two other sheds and a very long covered patio. Enjoy the mountain views with your morning coffee. You'll have so much fun in the active clubhouse. Playing cards, Bingo, a game of pool, puzzles or going to potlucks & dances are some things to join. Relaxing by the pool is great too.

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10201 N 99th Avenue Peoria, AZ 85345

$60,000

2 Beds

2 Baths

1,300 SqFt

Status Active

MLS # 6577237

Property Type Manufactured Home

Price Type --

Welcome to this charming 55+ Community in Peoria! This move-in ready home features a spacious family room with wood flooring and neutral colors throughout. The updated kitchen is stylish w/tile backsplash, wood cabinetry, and built-in appliances. The primary bedroom offers a generously-sized closet and an ensuite bathroom for added convenience. The secondary bedroom includes a built-in Murphy bed, serving as a versatile desk area. Additionally, a workshop/hobby room with AC adds to the functionality of this home. Step outside to a cozy and private backyard, perfect for alfresco dining, morning coffee, or simply unwinding after a long day. Convenient to shopping, restaurants, and with easy freeway access. Don't miss out on this opportunity! Being Sold ''AS IS''

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2400 E Baseline Avenue Apache Junction, AZ 85119

$60,000

2 Beds

2 Baths

1,056 SqFt

Status Active

MLS # 6609696

Property Type Manufactured Home

Price Type --

I know what you are thinking, what's wrong with this? NOTHING! no major repairs needed, this seasonal resident just needs it sold today! Embrace the warmth of opportunity with this motivated seller, eager to facilitate your transition to the sunshine state. Unlock the door to your dream home and seamless relocation experience. Embrace the beauty of the Southwest with a seller committed to making your move as smooth as a desert breeze. Primary bedroom showcases an immaculate ensuite and two closets for added convenience. You will find a cozy backyard with a covered patio, the perfect spot for unwinding after a busy day! What are you waiting for?

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10701 N 99th Avenue Peoria, AZ 85345

$60,000

2 Beds

2 Baths

1,020 SqFt

Status Active

MLS # 6626909

Property Type Manufactured Home

Price Type --

Very Attractive 2 bedroom, 2 full bath, 2 car carport home. South facing front yard on nice corner lot, ground set. All built-in appliances stay including Frig, Washer Dryer. Storage shed. Desert landscaping. Exterior recently painted. Apollo Village is a pet friendly 55+age restricted community. You're just a few steps away from the park amenities! Heated community pool/spa, clubhouse, billiards, library, fitness room. Many organized social activities. Financing Available to qualified Buyer's. All owners/occupants must be park approved as residents. Land lease fee is $807/month. Great location! Near a variety of stores, medical clinics/hospitals, sports venues, restaurants, casino & Loop 101. Some furniture pieces may be included with the sale.

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617 E 17th Street Douglas, AZ 85607

$60,000

1 Bed

1 Bath

746 SqFt

Status Active

MLS # 6631474

Property Type Single Family Residence

Price Type --

Location, convenience, and many possibilities. Early 1900's home ready for some TLC and your imagination, all utility services are available (city water, sewer, and electric). This is a one bedroom, one bath home, that can be easily turned into a rental, if convenient. Great investment opportunity!

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800 W Apache Trail Apache Junction, AZ 85120

$60,000

2 Beds

1.5 Baths

910 SqFt

Status Active

MLS # 6639593

Property Type Manufactured Home

Price Type --

Charming FULLY FURNISHED manufactured home in the active adult Sky Haven Estates! With 2 beds & 1.75 bath, it's comfortable living. A desert landscape & carport parking spaces are just the beginning. Continue inside to find a semi-open layout with tons of natural light, soothing palette, and carpet & tile flooring in all the right places. The eat-in kitchen w/pantry and light blue cabinetry with pull-out shelves. Well-appointed bedrooms & 1.5 baths for added convenience! Adding to home's functionality, you a separate workshop, ideal for hobbyists & craftsmen alike, offering ample space for projects and storage. Take advantage of the amenities of this gated Community, including a pool, clubhouse, & etc. Don't miss it

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8427 W Glendale Avenue Glendale, AZ 85305

$60,000

2 Beds

1 Bath

576 SqFt

Status Active

MLS # 6661436

Property Type Manufactured Home

Price Type --

Look no further! This is your chance to own this charming 2-bedroom manufactured home in Glendale. Explore inside to discover a perfectly flowing layout showcasing tile flooring, plush carpet in all the right places, and soothing color palette, providing a harmonious ambiance throughout. The immaculate kitchen boasts matching appliances and white cabinetry for all your cooking essentials. You will also find two cozy bedrooms equipped with closets for easy organization. PLUS! Excellent location close to parks, coffee shops, and offering easy freeway access. What are you waiting for? A deal like this won't last long!

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18001 N 16th Way Phoenix, AZ 85022

$60,000

2 Beds

2 Baths

784 SqFt

Status Active

MLS # 6668426

Property Type Manufactured Home

Price Type --

Prime Location with a fenced yard and doggie door so your pets will love this home!!! Nestled in the serene 55+ Mobile Home Community of Sunrise Heights, this exquisite single wide residence is just moments away from the 101 freeway, offering easy access to a plethora of shopping and dining options. Recently undergoing a stylish renovation, this home boasts new laminate flooring in both bedrooms and has been refreshed with paint throughout. The kitchen welcomes you with new appliances, a new sink, faucet, and a vibrant backsplash, adding a cozy and colorful ambiance to the space. Perfectly situated adjacent to the Sunrise Heights, it serves as an ideal spot for neighborly gatherings and pet-friendly activities. This property is a true gem and awaits your visit! Property Highlights Spacious Clubhouse, Outdoor Pool and Spa, Four New Pickleball Courts, Exercise Center, Planned Community Activities, Billiards and Game Room, RV Storage Onsite, Pet Friendly Community. Pets welcome. No size or breed restrictions. Maximum of 3 pets.

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