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 101st 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.

Whats 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.

What’s Your Home Worth?

Search for Your New Home

10523 W Coggins Drive Sun City, AZ 85351

$158,900
1 Bed
1 Bath
879 SqFt
Status Active
MLS # 6204471
Property Type Apartment Style/flat
Price Type --
This beautiful 1 Bedroom 1 Bathroom is fully remodeled and is a corner unit giving you more privacy. This single level attached home is close to all the conveniences you'll want. Near major freeways such as the US-60 and the 101. Shopping, Restaurants, Recreational centers, Golf and so much more! You will love the spacious Kitchen and inside Laundry room. This is an end unit so the Carport is not shared with your neighbor. There is a private Patio to relax and enjoy the day!

886 W Galveston Street Unit 110 Chandler, AZ 85225

$158,500 - 1Br/1Ba -  for Sale in Butterfield Park, Chandler
New
$158,500
1 Bed
1 Bath
800 SqFt
Status Active
MLS # 6223758
Property Type Apartment Style/flat
Price Type --
Sharp condo in great condition & completely furnished! Huge Vaulted Living Room, Kitchen Door opens to Pool area, Powder Room on Main Level is a huge plus! Loft/bedroom upstairs with large walk-in closet and bath off master. Stack washer/dryer by Kitchen is included along with the Refrigerator! Kitchen Door and Window overlook the Fenced Pool & Spa in the Courtyard plus there are BBQ Grills, lots of Grass & Trees - this is a very pretty complex! One year warranty included for buyer! This Gated Community is surrounded by single family homes and is close to Shopping, Restaurants & Schools! This condo has been part of a group of timeshare units and is beautifully furnished! All Furniture is Included. Cash or VA or special 20% down conv financing due to timeshare units in this complex

2509 E Atlanta Avenue Phoenix, AZ 85040

$158,000
2 Beds
1 Bath
720 SqFt
Status Active
MLS # 6189690
Property Type Single Family - Detached
Price Type --
SELLER WANTS IT GONE! BRING YOUR HIGHEST AND BEST OFFERS BEFORE THIS GREAT INVESTMENT OPPORTUNITY IS GONE! LOCATED IN GREAT AREA WITH HIGH DEMAND ON RENTALS! COME CHECK IT OUT FOR YOURSELF! TO BE SOLD AS-IS CONDITION!

703 E 8th Street Douglas, AZ 85607

$157,500
3 Beds
2 Baths
1,826 SqFt
Status Active
MLS # 6189430
Property Type Single Family - Detached
Price Type --

10925 W Coggins Drive Sun City, AZ 85351

$157,500
1 Bed
1 Bath
929 SqFt
Status Active
MLS # 6217760
Property Type Townhouse
Price Type --
Tenant occupied, please request 24 hours in advance and give me time to speak with the tenant for approval. No Sunday showings. This cozy but spacious condo is a great opportunity to won in the 55+ community. Is has a large. open living room with a den/office (that adds another 80-100sf) that exits onto your private patio. Additional storage cabinets are in the carport. Any occupant will enjoy the quiet, shaded courtyard with fruit trees. Convenient to shopping, pharmacies, medical care and restaurants.The condo HOA no longer allows rentals and must be owner occupied when under new ownership. The condo is currently furnished. The seller will sell the contents outside of escrow to interested buyers.

11201 N El Mirage Road Unit F149 El Mirage, AZ 85335

$155,000
2 Beds
2 Baths
1,375 SqFt
Status Active
MLS # 6105540
Property Type Modular/pre-fab
Price Type --
This resort style living home is located in Pueblo El Mirage, a 5 star gated and guarded senior 55+ community that offers a beautiful 18 hole pro golf course, tennis court, lawn bowling, beautiful pools, pro pickle ball courts, wood shop, a quilt/sewing center and many other crafts and activities for your pleasure and social interaction. This home is located on a premium lot. This home is close to the Cardinals stadium and Luke Air Force base and is in a very private secluded area. Enjoy this resort style living fit for a leisure lifestyle. All furniture is included but This does not include all personal items- Clothes, golf equipment, bikes, pet trailer, wagon, and some of the tools, items with Packer or Seahawk logo, the air fryer, some glassware, and items in hall closet.

885 S Post Road Benson, AZ 85602

$155,000
3 Beds
1 Bath
1,232 SqFt
Status Active W/contingency
MLS # 6181950
Property Type Single Family - Detached
Price Type --
3 bedroom 1 bathroom with many upgrades such as new roof, AC, Furnace, Paint, Electric Panel, Fence and so much more.

369 S Taylors Trail Trail Sierra Vista, AZ 85635

$155,000
2 Beds
2 Baths
1,212 SqFt
Status Active
MLS # 6203863
Property Type Single Family - Detached
Price Type --
Prized perimeter property at Vista View Resort, Monterey model with 2 bdrm/ 2 bath Nice size interior laundry room, House faces East West with unobstructive sunrise views.Wood and carpet flooring. 2 sliding glass doors, 2 car garage. A/C replaced 2 years ago, new very quiet garage door opener and reverse osmosis to round out this vacant ready to sell and move in ready!

5735 E Mcdowell Road Unit 484 Mesa, AZ 85215

$155,000
2 Beds
1.5 Baths
706 SqFt
Status Active W/contingency
MLS # 6210310
Property Type Mfg/mobile Housing
Price Type --
This well maintained home on a CORNER LOT has beautiful views of the mountains. There is a personal storage shed that was built behind the home to store bikes/belongings in. Active 55+ gated community with a beautiful Clubhouse, Pool, Spa, Tennis/Pickle Ball Courts, and Workout Room! 1 dog under 25lbs and 2 cats are welcome! The Wells is the perfect oasis to live -- Plus, you own your property/lot!

190 E Edward Street Nogales, AZ 85621

$155,000
3 Beds
2 Baths
2,006 SqFt
Status Active
MLS # 6210896
Property Type Single Family - Detached
Price Type --
Outstanding opportunity for this affordable 3 bed/2 full bath 2000 sq Ft home located in the central Nogales area. Upon entering the home you are drawn to the spacious kitchen and dining area. The bedrooms are also spacious and it includes an extra tv/entertainment room. The outside area is fenced in, it has a small courtyard area in the front and up to 4 car carport in the rear. It sits on a corner lot. Walking distance to shopping and school. Call to make your appointment and view today!

4750 N Central Avenue Unit A3 Phoenix, AZ 85012

$155,000
2 Beds
1 Bath
980 SqFt
Status Active
MLS # 6214408
Property Type Apartment Style/flat
Price Type --
DON'T MISS OUT ON THIS END UNIT CLOSE TO THE ELEVATOR YET EXTREMELY LOW THROUGHFARE TRAFFIC. 3RD FLOOR 2 BEDROOM, 1 BATH FILLMORE MODEL. THIS ONE IS STUNNING. DESIGNER TILE IN KITCHEN, HALL AND BATH. RICH WOOD FLOORING IN LIVING/GREAT ROOM AND BEDROOMS. BEAUTIFUL KITCHEN CABINETRY, GRANITE COUNTER TOPS. APPLIANCES ARE ABOUT TWO YEARS OLD. 270 SQUARE FEET OF OUTDOOR BALCONY SPACE FOR RELAXING AND ENTERTAINING. BALCONY RECENTLY REDONE. BRAND NEW AC UNIT! LANDMARK TOWERS AMENITIES INCLUDE 2 UNDERGROUND SECURED PARKING SPACES, YEAR-ROUND HEATED POOL, GYM, WI-FI, 18TH FLOOR SKY LOUNGE, 24 HOUR CONCIERGE SERVICE, MEDIA ROOM, LIBRARY, RESIDENT CENTER WITH CATERING KITCHEN FOR LARGE PARTIES, AIR CONDITIONING, HEATING AND MUCH, MUCH MORE.

5757 W Eugie Avenue Unit 1008 Glendale, AZ 85304

$155,000
1 Bed
1 Bath
632 SqFt
Status Active
MLS # 6218196
Property Type Townhouse
Price Type --
Great condo near the tennis courts! Home features beautiful kitchen with granite counters, separate dining area and walk-in closet with built-in shelving/drawers. Wood floor throughout. The community is beautiful with mature landscaping, tennis court, pool and jacuzzi.

Leave a Reply

Your email address will not be published. Required fields are marked *