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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41094 W Haley Drive Maricopa, AZ 85138

$509,990

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6400951

Property Type Single Family Residence

Price Type --

START PACKING... It's the stunning Belice - 12x8 sliding glass door that leads out to your extended covered patio. Large walk-in shower at Owner's bath and ceramic tile surround., Designer gas appliance package, Maple ''Linen cabinets with 42'' upper kitchen cabinets and upgraded hardware. Evening Gray quartz countertops in kitchen and on the enhanced kitchen island. 8' tall interior doors throughout home. Upgraded flooring includes level 9 carpet in all bedrooms/closets and Norwood Oak 6x24 floor tile in remaining areas of the home. Dual sinks at bath 2. We're also adding in the pre-plumb for soft water, interior ''Gray'' two tone interior paint, garage service door and much more. Water Company is Santa Cruz Water Company and Sewer is Palo Verde Utilities Company. Please verify all information with onsite agents.

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41050 W Agave Road Maricopa, AZ 85138

$509,990

4 Beds

3 Baths

2,142 SqFt

Status Active

MLS # 6632217

Property Type Single Family Residence

Price Type --

STOP THE CAR... This Castellano is stunning and ready for you to move in. It has 4 bedrooms, 3 baths and 3 car tandem garage. 12x8 sliding glass door off the covered patio great for entertaining. Large walk in shower at owner's bath with tile surrounds. Stainless steel gas range. Benton ''White'' cabinets throughout the home with rollouts at pantry. AZT Della Terra quartz countertops in kitchen, enhanced kitchen island and in owner's bath. 8' interior doors. Additional recessed can lights in kitchen and prewire for pendant lights in kitchen. Upgrade flooring includes level 5 carpet in bedrooms and closets. EMS Cabo II 18x18 tile in remaining areas of the home. Dual sinks at bath 2. We've also added pre-plumb for soft water, gas stub for future BBQ and so much more. Seller to write contract and to verify all information with onsite agents. Water Company is Santa Cruz Water Company and Sewer is Palo Verde Utilities Company.

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1063 W Harvest Street Mesa, AZ 85201

New

$509,950

4 Beds

3 Baths

1,446 SqFt

Status Active

MLS # 6694750

Property Type Single Family Residence

Price Type --

This old house looks brand new and has been used as an Airbnb for years. Just went through a $100k remodel last year which included all new plumbing inside and out. 2 master bedrooms, and 2 smaller hall bedrooms that share a bathroom. Kitchen is all new with floor to ceiling cabinets and a gorgeous island. Brand new hot water heater and solar panels that have brought the electric bill to almost $0. Backyard has a newer concrete pad and just needs a few finishing touches. This house is ready to go and won't last long! Owner/agent

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4608 W Acacia Drive Eloy, AZ 85131

$509,900

2 Beds

2.5 Baths

2,121 SqFt

Status Active

MLS # 6646527

Property Type Single Family Residence

Price Type --

GORGEOUS ALTURA MODEL built in 2021! Kitchen features highly upgraded 42'' cabinets, marble backsplash, pendant lights, SS chimney hood, under cabinet lights, Gas cooktop w/5 burners, built-in trash bin, pot & pan drawers, Quartz counters, roll-out shelves (even in the pantry), soft close drawers, wall oven & microwave. You will love the plank flooring, 5-1/4'' baseboards, Glass front door, 8' interior doors, upgraded 340 glass windows, Quartz vanities, 2 full suite bedrooms w/walk-in closets & tile showers. Extended Sun room off the dining area. The laundry room has a full set of cabinets & sink. Step out back to the covered patio w/sunshades. Backyard is fully fenced & landscaped w/pavers & synthetic grass. This home has so many upgrades, is immaculate & was built in 2021.

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19777 N 76th Street Scottsdale, AZ 85255

$509,900

2 Beds

2 Baths

1,148 SqFt

Status Active

MLS # 6589893

Property Type Townhouse

Price Type --

Resort Style Living at its Best! Desired Ground Floor Condo in the Venu at Grayhawk, One Car Garage, #74 and One Extra Space, #404. This Two Bedroom, Two Bath Condo Features Vinyl Wood Plank Flooring Throughout, Large Kitchen with Stainless Steel Appliances, Spacious Living Room with Fireplace and Desert Views, Master Bedroom Suite with Walk in Closet, Inside Laundry w Full Size Washer & Dryer. New AC Unit, New HW Tank, Upgraded Blinds, Lights and Fans. Venu/Edge Amenities: Concierge, Two Fitness Centers, 4 Resort Style Pools, 3 Hot Tubs, 2 Great Rooms, Business Center, WIFI, Gas Grills, Outdoor Fireplaces, Two Clubhouse Game Rooms, Two Movie Theaters, Resident Chef, Monthly Events & More. Buyer to Verify all Material Facts and Measurement

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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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5 N 119th Avenue Avondale, AZ 85323

$509,900

3 Beds

3 Baths

2,687 SqFt

Status Active

MLS # 6662962

Property Type Single Family Residence

Price Type --

Nestled within the prestigious Cold Water Springs community, this 3-bedroom, 3-bathroom home is a gem. Situated on a coveted golf course lot, panoramic views of the pristine fairways and greens greet you from every window. Step into the backyard oasis, where a large pool beckons for relaxation, while the meticulously manicured putting green offers endless entertainment. Inside, the residence boasts spacious living areas. With an open floor plan designed for seamless indoor-outdoor living, this home provides the perfect blend of sophistication and leisure, creating an ideal retreat.

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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 and location! No matters you are an investor (rent for $2400-2500) or for your primary home, this best location is the right center to everywhere! This house is perfect for pet lovers and golf players. 2 stories, 4bedrooms, 3bathrooms, new wood-looking floors: tile and vinyl, new quartz counter top. Awesome beautiful community with greenbelts, play grounds, 3 pools, 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.

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16668 W Pierce Street Goodyear, AZ 85338

$509,900

4 Beds

2 Baths

1,862 SqFt

Status Active

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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1252 W Macaw Court Queen Creek, AZ 85140

$509,700

3 Beds

2 Baths

1,696 SqFt

Status Active

MLS # 6679542

Property Type Single Family Residence

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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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