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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3267 E Milky Way Gilbert, AZ 85295

$509,900

3 Beds

2.5 Baths

1,781 SqFt

Status Active

MLS # 6658855

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom 2 1/2 bath home coming to the market located in Lyons Gate, Gilbert! Be prepared to fall in love! This former model home offers an outstanding floor plan with lots of upgrades and is tastefully appointed in an eye pleasing color palette. The kitchen features white cabinets with crown molding, granite counter-tops, spacious island with bar seating and pantry. Off the kitchen awaits the cozy great room with custom built in cabinet and the surround sound system that carries throughout the home. Upstairs to the spacious master that offers a private bath and walk in closet, 2 secondary bedrooms and laundry room. The professionally designed backyard is perfect for entertaining, featuring a covered patio, large seating area, pavered BBQ area, turf and mature landscaping. This home is move in ready, just waiting for you to make it YOUR new home. Call today to arrange your own private tour!

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16668 W Pierce Street Goodyear, AZ 85338

$509,900

4 Beds

2 Baths

1,862 SqFt

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MLS # 6689544

Property Type Single Family Residence

Price Type --

SPECTACULAR YARD WITH HEATED POOL & SPA, OUTDOOR KITCHEN WITH WALL TV CABINET, GAS FIREPLACE, GAZEBO, 2 SHEDS & EXTENSIVE PATIO ON A HUGE CORNER LOT. This move-in ready FOUR BEDROOM home has been freshly painted outside, painted inside, has a NEW HVAC (2023), upgraded fixtures and beautiful tile throughout. The spacious foyer opens to a huge living area with vaulted ceiling. The kitchen features granite counters, custom backsplash, crown molding, large island with eating counter & built-in beverage fridge. ALL APPLIANCES INCLUDED. The Ensuite bathroom has a patio door to the covered patio. Bedrooms #3 & 4 have upgraded windows & overlook a gorgeous front yard. Low voltage lighting front & back with an abundance of palm trees, shrubs, 2 orange trees & more. You may not want to leave home!

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2622 E Megan Street Gilbert, AZ 85295

$509,900

4 Beds

3 Baths

1,884 SqFt

Status Active

MLS # 6673631

Property Type Single Family Residence

Price Type --

Location, location! No matters you are investor or for primary home, this best location is the right center to everywhere! This expansive 4-bedroom, 3-bathroom home is situated in a very highly desirable Lyon's Gate community where rarely has house for sale. The residence has large great rooms and a separated kitchen, upgrade new Quartz countertop, a lovely courtyard and just painted the interior walls. New wood-looking title on the 1st floor and lifetime -warranty Vinyl on the 2nd floor. The beautiful community with greenbelts, BBQ, play grounds, 3 big swimming pools which one is heated. Club house, parks, walking paths. Close to the big San Tan Village mall and shopping centers, many restaurants. Next to a golf center and a dog park with a lake. perfect for pet lovers and golf players.

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1252 W Macaw Court Queen Creek, AZ 85140

$509,600

3 Beds

2 Baths

1,696 SqFt

Status Active

MLS # 6679542

Property Type Single Family Residence

Price Type --

New Home Alert! Why wait the build time? Over $50k in upgrades! Move in ready 3 bdr 2 bth in desireable North Creek Community! Home located at the tip of a cul de sac for easy access to all the Amazing Extras! Hoa fee includes: resort style pool, 2 pickle ball courts, corn hole, bocce ball, park/playground, covered gas grills, fire pits, tot lot, walking trails and full court basketball! Kitchen upgrade includes: White quartz counter tops, backsplash and stainless steel Refrigerator. Great room opens to a Wall Size Sliding Glass Door to already landscaped low maintenance backyard with turf grass! Enjoy the upgraded All Tile Master Shower! Lush carpet in the bedrooms. This perfect location is close to the 60, 202, 24 and access to the Frontier Family Park to be completed summer of 2024!

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10202 N 49th Avenue Glendale, AZ 85302

$509,510

4 Beds

3 Baths

1,829 SqFt

Status Active

MLS # 6667584

Property Type Single Family Residence

Price Type --

Located in North Central Glendale, Convenient to everything!! Gorgeous Open Plan with bedroom & full bathroom downstairs!! Wonderful Kitchen includes tons of cabinets, LARGE ISLAND, and Walk in Pantry for all the space required to live comfortably!! Convenient second-floor laundry room. Designer finishes include: Mission stair railing upstairs and downstairs. 3 car garage with 8' garage doors. Opt 4th bedroom ILO study. 42'' White Cabinets with neutral color herringbone back-splash in kitchen, White quartz counters & ''Gravel Road'' 6X36 Plank Tile floors throughout downstairs!!! Home should be ready around August/September 2024. Ask us about special financing incentives!!

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16158 W Alameda Road Surprise, AZ 85387

$509,056

3 Beds

3 Baths

2,167 SqFt

Status Active

MLS # 6637425

Property Type Single Family Residence

Price Type --

THIS BEAUTIFUL , BRIGHTGREAT ROOM PLAN ,IS READAY FOR MOVE IN!! 3 BEDROOM PLUS DEN , 3 BATH ,, 9'CEILING, GOURMET KITCHEN LAYOUT, UPGRADE CABINET , GRANITE KITCHEN TOPS, SPA SHOWER, LUXURY VINYLFLOORING.,2'WHITE BLINDS, CEILING FANS , FRONT YARD LANSCAPING COMPLETED, ENERGY STAR QUALIFIED HOME, INDOOR AIR PLUS. A SHORT DISTANCE FROM THE COMMUNITY POOL AREA, PICNIC AREA, TOT LOTS, BASKETBALL, PICKLE BALL COURTSAND SO MUCH MORE.

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4633 E Cypress Street Phoenix, AZ 85008

$509,000

3 Beds

2 Baths

1,521 SqFt

Status Active

MLS # 6693217

Property Type Single Family Residence

Price Type --

Near Arcadia! Well cared for charming 3 bedroom and 2 bathroom in Lindon Park subdivision. LIght and bright kitchen with white cabinetry, skylight, & built in microwave. Refrigerator, washer and dryer convey, and even the lawnmower for your huge back yard. Closets and storage everywhere. Enormous addition at back of home Could be more bedrooms, at home gym, office and additional living room, whatever suits your needs. Laundry room has new upper cabinets, and a utility sink. Gigantic pantry could double as yet more inside storage. Ceiling fans throughout. Brand new modern 8X10 shed, and new pergola. With coveted flood irrigation and the covered back patio being so large, this yard has endless possibilities. 6 ft block wall ensures major privacy!

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7559 W Cinnabar Avenue Peoria, AZ 85345

$509,000

4 Beds

2.5 Baths

2,328 SqFt

Status Active

MLS # 6640008

Property Type Single Family Residence

Price Type --

Check out this awesome 4-bedroom pad! It's got a sweet private pool, brand-spankin'-new floors, and shiny stainless steel appliances. The master bedroom is a total showstopper, complete with a big walk-in closet and double sinks. This place is seriously roomy, so there's plenty of space for everyone!

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6496 W Saratoga Way Florence, AZ 85132

$509,000

2 Beds

2 Baths

1,971 SqFt

Status Active

MLS # 6650565

Property Type Single Family Residence

Price Type --

Amazing 18th fairway views of Poston Butte Golf Course! This meticulously maintained and highly upgraded ''Arcadia'' floor plan w/3rd car garage is perfectly appointed on a N/S PREMIUM GOLF COURSE LOT. Enjoy the stunning views from the extended paver patio, surrounded by desert landscape within walking distance of the Anthem Grille and Club House. Enjoy the interior details that include a gourmet kitchen featuring true staggered cherry cabinetry w/crown molding, granite countertops, double wall ovens, electric cooktop, AC/Heat installed 2017, bay window in Cafe', den/office, new paint , new carpet, new travertine courtyard and laundry/garage cabinets. The primary en-suite offers soaking tub w/seperate shower, double vanity and a large walk in closet. The Florence bond is PAID IN FULL Take advantage of the Anthem Grille, The Poston Butte Golf Club, a learning center and all the festivities, activities and amenities a Sun City community has to offer. Remember you are buying a lifestyle that goes beyond the homes property lines.

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3011 Pleasant Valley Court Prescott, AZ 86305

$509,000

3 Beds

2 Baths

1,719 SqFt

Status Active

MLS # 6649988

Property Type Single Family Residence

Price Type --

Wonderful family home in a quiet, peaceful neighborhood! Perfect location that is central to everything, close to trails, downtown Prescott, shopping and parks. Enjoy the light, bright rooms with walls of windows looking toward the large privacy-fenced back yard backing 10 acres of open space. Drink coffee and enjoy evening BBQ and drinks on the private back patio under the shade tree. Custom concrete countertops, upgraded fixtures, newer laminate floors, 9 foot ceilings, tile surround jetted tub, newer carpet, French doors, stainless appliances, high efficiency furnace, large laundry room and solar electric system. The tranquil setting is perfect for the home gardener with an enclosed raised garden bed. Trees and berry bushes abound with apple, pear, cherry, plum, blueberry, raspberry and almond spread throughout the property all irrigated by a worry-free 6-zone sprinkler system in both the front and back yards! Shaded front patio adjacent to rose bushes & a butterfly garden. We are excited find someone to make their own memories in this wonderful home!!

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1837 N 16th Avenue Phoenix, AZ 85007

$509,000

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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9047 W Maui Lane Peoria, AZ 85381

$509,000

3 Beds

2.5 Baths

2,070 SqFt

Status Active

MLS # 6686960

Property Type Single Family Residence

Price Type --

Desert Harbor Lake view from backyard. Brand-new stainless-steel appliances. New carpet and paint throughout. New DuraDek private loft balcony. New custom shower in Master en suite. Multiple new lighting fixtures and ceiling fans. Tile and carpet throughout. Ceramic tile in the main living area. Large kitchen with plenty of cabinet space and pantry. The separate kitchen counter space with cabinets is perfect for additional storage/appliances. The master bedroom is conveniently located on the first floor, separate from the other bedrooms. The upstairs loft is perfect for an in-home office or a kids' playroom. Upstairs bedroom is identical each with own window nook seating area. Extra built-in garage storage.

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