What’s Ahead For Mortgage Rates This Week – February 13, 2017

Last week’s scheduled economic readings were limited and included new jobless claims and Freddie Mac’s mortgage rates survey. In other news, all types of mortgage applications rose by 2.30 percent this week as compared to the prior week.

Mortgage Rates Lower, Home Loan Applications Rise

Freddie Mac reported lower mortgage rates for fixed rate and 5/1 adjustable mortgages; the average rate for 30-year fixed rate mortgages dropped two basis points to 4.17 percent. Average rates for 15-year mortgages also dropped two basis points to 3.39 percent. 5/1 adjustable mortgage rates averaged 3.21 percent, which was also two basis points lower than the previous week. Discount points averaged 0.40 percent for the three types of mortgages tracked in Freddie Mac’s weekly Primary Mortgage Market Survey.

According to the Mortgage Bankers Association, this small drop in mortgage rates caused all types of mortgage applications to rise by 2.30 percent on a seasonally-adjusted basis. Refinance applications rose two percent from the prior week, but remain 40 percent lower year-over-year. The dearth of refinancing applications was caused by two factors including many refinances were completed recently when rates were lower and homeowners currently discouraged by higher mortgage rates.

Weekly Jobless Claims Fall

Last week’s initial jobless claims fell to 234,000 as compared to expectations of 249,000 new claims and the prior week’s reading of 246,000 new claims. This was the lowest reading since 1973 and when compared to the benchmark of 300,000 new claims, shows that the economy continues to strengthen. Last week’s reading was the second lowest since recovery from the recession got underway in 2009 and represented the 101^st consecutive week that new jobless claims were lower than the 300,000 new claims benchmark. According to Labor Department data, this week’s reading sustained the longest-running consecutive period of new jobless claims below the benchmark level.

The four-week average of new jobless claims is viewed by analysts as less volatile than the week-to-week reading, but it showed similar results last week as it fell by 3750 new claims to 244,250 initial claims and reached the lowest level of new claims filed in 44 years.

What‘s Ahead

Next week’s scheduled economic releases include readings on inflation and core inflation, the National Association of Home Builders Housing Market Index and Commerce Department reports on housing starts and building permits issued.

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16345 W Rimrock Street Surprise, AZ 85388

$515,000

4 Beds

2.5 Baths

2,140 SqFt

Status Active

MLS # 6659740

Property Type Single Family Residence

Price Type --

Move in ready 4 bed, 2.5 bath in the Northwest Ranch neighborhood in Surprise with amazing resort style backyard and prepaid 38 panel SOLAR! Steps from the Texas Ranger spring training field, loop 303, shopping and excellent restaurants. Outstanding curb appeal with a two car garage with extra paver parking area. Garage has built-in cabinets and custom lighting. 20 foot vaulted ceiling as you enter the home, upgraded kitchen has white cabinets, new granite counter tops, tile backsplash, and stainless steel appliances. Spacious walk in pantry with tile and carpet throughout the main floor. All bedrooms are upstairs and master suite has garden tub, double sinks, and walk in shower. Backyard is perfect with HUGE covered patio, play pool with grotto, mature landscape, and more!

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15074 W Bloomfield Road Surprise, AZ 85379

$515,000

4 Beds

2.5 Baths

2,483 SqFt

Status Active

MLS # 6660394

Property Type Single Family Residence

Price Type --

This move-in ready beauty is just waiting for you to call it home! Prime location close to schools, shopping, walking trails, entertainment and easy freeway access. Bright and airy home has 10 foot ceilings, wood-grain tile on ground floor and ceiling fans throughout. Kitchen boasts large island, granite countertops & backsplash, SS appliances and ample pantry space for all your hosting needs. Upstairs you'll find a loft perfect for den, office or playroom and master with huge walk-in closet. The backyard oasis includes extended patio with pavers, mature landscaping, grass, garden area and sparkling pool with baja shelf for ultimate relaxation. Updates include: new HVAC, garage door motor, irrigation timer and pool filters.

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1837 N 16th Avenue Phoenix, AZ 85007

$515,000

2 Beds

1 Bath

1,017 SqFt

Status Active

MLS # 6660772

Property Type Single Family Residence

Price Type --

STUNNING REMODEL! Now is your chance to own a piece of history with this beautifully renovated red brick bungalow in the historic Fairview Place neighborhood! Walking distance to Encanto park, tennis/pickleball courts, 2 golf courses, and a short drive to amazing restaurants and entertainment. Enjoy your expansive backyard with low maintenance landscaping as well as a 300SF garage, already equipped with electrical, water and AC that could easily be turned into a workshop, home office or Guest House/Casita! Inside, enjoy a richly designed, remodeled kitchen complete with brand new LG appliances, new electrical, new plumbing and new recessed lighting. Newer AC unit, water softener and whole house filtration system installed in 2023, and BRAND NEW ELECTRICAL PANEL installed in 2024!

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13867 N 159th Drive Surprise, AZ 85379

$515,000

5 Beds

3 Baths

2,583 SqFt

Status Active

MLS # 6662699

Property Type Single Family Residence

Price Type --

This home has so much to offer, the floor plan is so spacious; 5 Bedrooms with 3 full bathrooms + a den/office; Very large Master bedroom (upstairs);Large Master bathroom has double sinks, vanity and separate shower and jet tub, with a walk in closet; 3 more large bedrooms upstairs with a full Hall bathroom;1 bedroom and a full bathroom downstairs; Granite counter tops in the kitchen;Ceiling Fans in all the rooms;Both AC units replaced within the last 5 years;Newer water heater & Pool Pump; Cul-da-sac lot;Oversized pie shaped lot;Fenced Play pool with lots of pool deck;Beehive Gas fireplace with gathering area to enjoy the outdoors both in winter and Summer;Close to the 303; shopping and Restaurants

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4609 E Ardmore Road Phoenix, AZ 85044

$515,000

3 Beds

2 Baths

1,596 SqFt

Status Active

MLS # 6666617

Property Type Townhouse

Price Type --

Beautiful mountain views surround this charming three bedroom, two bathroom single story townhouse. The kitchen has been updated with newer cabinets, hard surface counters, and upgraded appliances. Hard surface flooring covers all of the common areas. So many rooms to entertain in this home, with a beehive fireplace in the main room, that flows into the oversized backyard. The former pool has been covered to extend the patio space farther. Newer windows,, newer AC, and owned solar panels make this home an energy efficient dream. Perfect for lock and leave, or year-round living, the home includes a two car garage. Fresh and clean and move in ready. Minutes to freeway, shopping, airport, and downtown.

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801 N Macdonald -- Mesa, AZ 85201

$515,000

3 Beds

2 Baths

1,575 SqFt

Status Active

MLS # 6675743

Property Type Single Family Residence

Price Type --

Bordering the Evergreen Historic District, this charming home sits on a fully irrigated .22-acre corner lot with complete privacy and NO HOA. Tons of shade and mature trees at home and an around the entire neighborhood. Convenient back yard access from the south and west sides! The main house offers a 2 bedroom and 1 bathroom with a beautifully remodeled kitchen and new water heater PLUS an attached 1 bedroom and 1 bathroom guest unit with new AC unit, washer and dryer! 5 minute drive or 25 minute walk to downtown Mesa - ASU MIX Center, Mesa Arts Center, light rail, dining, bars, coffee, shopping and events!

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1307 E Sierra Madre Avenue Gilbert, AZ 85296

$515,000

3 Beds

2 Baths

1,655 SqFt

Status Active

MLS # 6677170

Property Type Single Family Residence

Price Type --

Come check out this beautiful 3 bedroom 2 bathroom home located in the highly desired Val Vista Place community. Located just 4 miles from San Tan Village Market place and 20 miles from Phoenix Sky Harbor Airport. Walk in your new home to a spacious formal dining room/ 2nd living room with wood laminate flooring. The house then opens up to an updated kitchen with Corian Countertops, kitchen island, and stainless steel appliances. The living room has lots of natural light with a cozy fireplace and vaulted ceilings. The guest rooms are spacious and have a full bathroom between them. Head back to the Master bedroom which includes, large walk in closet, separate tub and shower, dual sinks and private door to the backyard. Take a swim in the sparkling pool with easy maintenance backyard

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3802 S Eucalyptus Place Chandler, AZ 85286

$515,000

3 Beds

2 Baths

1,667 SqFt

Status Active

MLS # 6679919

Property Type Single Family Residence

Price Type --

Great split floor plan, single story! Come check out this beautiful 3 bed/2bath home in Chandler. Home is tucked away in a cul-de-sac of the fantastic Redwood Estates.

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19819 W Buchanan Street Buckeye, AZ 85326

$515,000

4 Beds

3 Baths

2,170 SqFt

Status Active

MLS # 6687116

Property Type Single Family Residence

Price Type --

Finished immaculate single story 4 bed 3 bath home in the beautiful neighborhood of Blue Horizons! Large entry hall and 9 foot ceiling invite you into spacious white kitchen with country charm and unique subway tile backsplash, and a large island with breakfast bar. Solar, fully landscaped yard with heat-treated patio surface and a sparkling large play pool! Master is a tranquil retreat spa-like master bath and walk in shower with separate his/her sinks. Plenty of room in the secondary bedrooms for a large family or private den/craft room and guest rooms with separate bathrooms for each. In-wall doggie door and fenced off dog run with real grass, pavers in the right places. Bring your furniture and suitcases a must see!!

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17850 N 68th Street Phoenix, AZ 85054

$515,000

2 Beds

2.5 Baths

1,590 SqFt

Status Active

MLS # 6650560

Property Type Townhouse

Price Type --

Location! Location! Location! Welcome to the highly sought after Gated Luxury Community of Monterey Ridge in Scottsdale, Arizona. Beautifully updated 2 Bedroom/2.5 bathroom in Scottsdale with a 2 car garage LISTED BELOW APPRAISED VALUE. New custom window shutters, New hot water heater, New dishwasher, New paint and Much more... Master bedroom has its own private Den as well as each bedroom/bath has its own floor for privacy. Property is close to the 101 fwy, Mayo Hospital as well as walking distance or a nice bike ride to tons of shopping and yummy well known restaurants. Come enjoy the North Scottsdale Lifestyle! ** No-one lives above you or below you and you do not live on top of a garage or a neighbors garage like some other floorplans** Very charming unit.

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19230 N Ibis Way Maricopa, AZ 85138

Open House

$515,000

5 Beds

3 Baths

4,156 SqFt

Status Active

MLS # 6674199

Property Type Single Family Residence

Price Type --

UNIQUE!. No house of this size and with this lot size has been on the market on MLS since October 2020!! With ED3 grandfathered solar panels!. You've finally found it! The home includes 4,156 of living space and the total lot size is a whopping 14,318 sqft (.32 Acres)! The backyard is a clean slate for you to make this an amazing backyard oasis. And if that's not private enough, you have no neighbors behind! This lovely 5-bed, 3-bath residence features one of their bedrooms downstairs with a full bathroom, solar panels, a 3-car garage, an RV gate, and an extended driveway. The interior boasts a living/dining room with high ceilings, a neutral palette, and soft carpeting. The cozy family room has sliding door access to the backyard for seamless indoor-outdoor living. The kitchen is equipped with granite counters, ample wood cabinetry, built-in appliances, recessed lighting, a walk-in pantry, and a central island. Upstairs, the sizable loft offers additional living space. Double doors lead to the large main bedroom, complete with a private bathroom and a walk-in closet. The vast backyard showcases a covered patio, a storage shed, and ample space to let your imagination run wild!.

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3401 W Crocus Drive Phoenix, AZ 85053

Open House

$515,000

4 Beds

2 Baths

2,110 SqFt

Status Active

MLS # 6691161

Property Type Single Family Residence

Price Type --

Welcome home! Comfort meets convenience in this charming, energy-efficient residence in a great Phoenix location. Providing 4 beds, 2 baths, RV gate, low-care landscape, & a 2-car garage w/carport extension. Inviting interior showcases a designer palette, recessed lighting, and tasteful flooring - plush carpet & tile t/out. You'll love the formal living room and a separate dining/family room w/a fireplace & French doors to the back! The kitchen boasts SS appliances, quartz counters, white shaker cabinetry, & a breakfast bar. Main bedroom has a walk-in closet & a private bathroom for added ease. Moving outdoors, the entertainer's backyard awaits! With a covered patio, artificial turf, & a sparkling diving pool, this space promises year-round enjoyment. The storage shed is a plus! Just WOW!

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