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.

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18388 N 88th Avenue Peoria, AZ 85382

$498,000
4 Beds
2 Baths
1,740 SqFt
Status Active
MLS # 6672864
Property Type Single Family Residence
Price Type --
Welcome to your dream home! Nestled in a serene neighborhood, this stunning 4-bedroom, 2-bathroom residence boasts 1,740 square feet of comfort and style. Dive into luxury with your very own swimming pool, perfect for relaxing or entertaining guests. Recently updated with granite countertops, brand-new windows, stainless steel appliances, and updated bathrooms, this home exudes a warm and inviting atmosphere. Enjoy the cozy feel of brand-new carpet underfoot as you make unforgettable memories in this charming abode. Conveniently located near the freeway, schools, parks, and shopping centers, this residence offers the ideal combination of comfort and convenience. Don't miss out on this exceptional opportunity to call this house your home!

17708 W Silverwood Drive Goodyear, AZ 85338

$497,950
3 Beds
2 Baths
1,935 SqFt
Status Active
MLS # 6677807
Property Type Single Family Residence
Price Type --
Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6677807 Ready March! Discover the Zafiro plan with 3 bedrooms and flex space. Enjoy curb appeal with a landscaped front yard and paver driveway leading to the porch. Perfect for entertaining, living space and covered patio are on one side, while bedrooms and flex room are on the other. Owner's suite offers privacy with walk-in closet, dual vanities, and walk-in shower. Located in a gated, active adult community with resort lifestyle in Estrella Mountain Foothills. Structural options include: paver front porch, multi-slide door at gathering, upgraded square corners, 5' baseboards, 8' interior doors, and pre-plumb reverse osmosis system.

10764 W Villa Street Avondale, AZ 85323

$497,929
3 Beds
2.5 Baths
2,269 SqFt
Status Active
MLS # 6655225
Property Type Single Family Residence
Price Type --
New home ready for move in this spring. Two-story Tisdale floorplan with sought after Mid Century Modern style exterior. The first floor features a flex room with elegant double glass doors. This room can serve as a home office, game room or sitting area. The second floor features a loft, the owner's suite and two additional bedrooms. The spacious kitchen features stainless steel appliances with gas range and a large island with ample sitting space, overlooking the dining and sitting areas. The stylish cabinetry is a gray tone which is complemented by upgraded quartz countertops, subway tile backsplash, and wood color plank tile. Great home with spacious sitting and socializing areas. Home warranty included.

16216 W Indianola Avenue Goodyear, AZ 85395

$497,900
2 Beds
2 Baths
2,200 SqFt
Status Active
MLS # 6602047
Property Type Single Family Residence
Price Type --
Elegant travertine courtyard entry welcomes you to this one of a kind 'Milano' floor plan which has been customized with enclosed game room/sun room, beautiful library cabinets in den, built in cabinets & 'Murphy' bed in guest bdrm; extended master bdrm & family room; ext garage with storage cabinets, golf cart garage; water softener & R/O system. Freshly painted interiors in neutral color palette. Situated on a beautiful lot with great outdoor entertaining spaces including travertine patio, water feature & outdoor kitchen. Pebble Creek showcases stunning resort-style amenities and offers the ultimate value in active adult luxury living. PRICE REDUCED FOR QUICK SALE!

23367 W Florence Avenue Buckeye, AZ 85326

$497,761
5 Beds
3 Baths
2,753 SqFt
Status Active
MLS # 6618729
Property Type Single Family Residence
Price Type --
Brand New Home with Beautifull Kitchen, Large Kitchen Island! 5 Bedrooms, 3 Baths, & Study. Large family room separate from living room. Walk in shower in Primary, Covered Patio with slider door. Hurry this home will go quickly!! Home can close in Octoebr/November. This is a High Performance Home with smart technology, makes it so you can truly live in your element!!!!

20018 N 18th Drive Phoenix, AZ 85027

$497,000
4 Beds
2 Baths
1,896 SqFt
Status Active
MLS # 6653008
Property Type Single Family Residence
Price Type --
This lovely 4 bedroom, 2 bathroom home has been remodeled throughout. Step inside and be greeted by the eye catching wood burning fireplace and beautiful kitchen with new cabinets, appliances, counters and appliances. New flooring, paint, and light fixtures throughout. Both bathrooms have been tastefully remodeled with easy access showers, new cabinets, counters and fixtures. The trendy Arizona room leads you to the lush backyard with an expansive patio. The fresh pool decking and sparking blue pool are sure to catch your eye. Additional upgrades include new furnace, new a/c, new plumbing and updated electrical. No detail has been spared including owned solar. Put this home on your MUST see list.

20478 N 267th Avenue Buckeye, AZ 85396

$497,000 - 2Br/2Ba -  for Sale in Sun City Festival Parcel C1, Buckeye
Open House
$497,000
2 Beds
2 Baths
2,323 SqFt
Status Active
MLS # 6674280
Property Type Single Family Residence
Price Type --
The Ideal Location that Captures Arizona Sunsets from a Private Backyard Oasis w/No Neighbors to the West. This Well-Maintained Fiesta Model is a MUST SEE! The 2,323 Sq Ft Home Lives Large w/an Open Concept Floor Plan & Gourmet Kitchen offering Granite Counter Tops, Tiled Backsplash, Upgraded Staggered Cabinets, U/L Pull-out Shelves, Stainless Steel Appliances & Island w/Glass Display Cupboards. Guest Bedroom has a Walk-in Closet & Jack-n-Jill Bathroom. You will Appreciate the Den/Office & Large Great Room w/Sliders to the Extended Patio featuring an Amazing Outdoor Paradise. Retire to the Spacious Owner's Suite w/ Patio Access, Large Closet, & En Suite w/Dual Sinks, Soaking Tub & Shower. Laundry Room Provides Extra Cupboard/Counter Space & Sink. Diagonal Tiles, Woodgrain Laminate, & Plantation Shutters Enhance the Home. The 3-car Garage Offers Extra Storage & Room for your Golf Cart. Owners Installed a New HVAC System in 2023. Festival Ranch Special Assessment CFD has Been Paid in Full. Don't hesitate to see this Spectacular Home. It is time to start Enjoying the FIRST-CLASS Amenities offered in Sun City Festival. A Great Place to Call Home!

15755 W Kendall Street Goodyear, AZ 85338

$496,990
5 Beds
3 Baths
2,233 SqFt
Status Active
MLS # 6676159
Property Type Single Family Residence
Price Type --
Below Market Financing Available!!!!!! This single-level home showcases a spacious open floorplan shared between the Great Room, kitchen and dining area, with access to the covered patio for outdoor lounging and entertaining. The owner's suite enjoys a private location at the back of the home, complemented by an en-suite bathroom and walk-in closet. The four secondary bedrooms are comfortable and private retreats for household members and overnight guests.

15452 W Jefferson Street Goodyear, AZ 85338

$496,900 - 4Br/3Ba -  for Sale in Centerra, Goodyear
Open House
$496,900
4 Beds
3 Baths
3,001 SqFt
Status Active
MLS # 6644924
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the heart of Goodyear! This stunning residence in the sought-after Centerra community is a true gem, offering a perfect blend of comfort, style, and space. Boasting 4 bedrooms and 3 baths, this 3001 sq-ft home is designed to accommodate the needs of modern living. The spacious and well-appointed kitchen is a culinary enthusiast's delight, featuring marble counter tops, high-end appliances, and a layout that makes entertaining a breeze. The den provides a versatile space for a home office or a quiet retreat, while the bonus room adds an extra layer of flexibility to suit your lifestyle. Whether you're hosting family gatherings, game nights, or simply enjoying quiet evenings at home, this residence offers the perfect backdrop for creating lasting memories. The master suite is a true sanctuary, offering a peaceful haven with its own private bath. The additional bedrooms are generously sized, ensuring comfort for family members or guests. With three baths, mornings and evenings are streamlined for convenience and ease. Beyond the walls of this exquisite home, the Centerra community provides a welcoming environment with scenic views and an array of amenities. From the Goodyear Recreation Center, parks and trails to nearby shopping and dining options, this neighborhood offers a vibrant and convenient lifestyle.

25657 N 185th Drive Wittmann, AZ 85361

$496,709
3 Beds
2 Baths
1,693 SqFt
Status Active
MLS # 6669478
Property Type Single Family Residence
Price Type --
The Bronze floor plan would certainly take home gold for design! This ranch-style home centers around an open layout with a dining area, a kitchen with a center island, and a great room with center-meet doors leading to the covered patio. The primary suite is adjacent, and showcases a generous walk-in closet and a private bath. Two bedrooms and a second bath complete the residence, which also includes an attached RV garage. You'll love the professionally curated fixtures and finishes selected by our design team!

12890 N 172nd Drive Surprise, AZ 85388

$496,535
3 Beds
2 Baths
2,138 SqFt
Status Active
MLS # 6657303
Property Type Single Family Residence
Price Type --
QUICK MOVE-IN....SELLER IS OFFERING CLOSING COST AND RATE BUYDOWN SPECIALS! Brand New Completed Home with a 3-car garage! Come see this beautiful home with 3 Bedrooms, 2 Bathrooms, and a beautiful open Kitchen, Dining and Great Room. This home has finished options that include upgraded 42'' Cabinets, Quartz countertops and Stainless-Steel Appliances. Flooring has been upgraded with wood plank tile in all areas except the flex and bedrooms. Kitchen has a large quartz island opening to an oversized great room. Master has separate tub and shower and a large walk-in closet. Great Mountain views from the great room / back yard of the white tank mountains. Photos are of another listing of the same home. This one is almost complete.

23836 N 162nd Lane Surprise, AZ 85387

$496,274
3 Beds
3 Baths
2,501 SqFt
Status Active
MLS # 6668510
Property Type Single Family Residence
Price Type --
MOVE IN READY!!, QUICK CLOSE, Gorgeous Escalante Community, SELLER MAY PROVIDE HUGE INCENTIVES TOWARDS FINANCING, Silversmith Plan, 3 Bedrooms Plus Double Door Den, 3 Baths, 2 Car Garage, OPEN FLOOR PLAN, 9 Foot Ceilings With 8 Foot Interior Doors on Both Floors, Gourmet Kitchen, NICELY UPGRADED CABINETS, FLOORING And COUNTERTOPS, , 2 Inch Faux Window Blinds And Ceiling Fans In All Rooms. Energy Star Qualified Home, Indoor Air Plus, Buyer May Still Select Appliances, 8 Foot Tall Garage Door, Located A Short Distance From The Community Pool Area, Picnic Area, Tot Lots, Basketball, Pickle Ball Courts And So Much More. This Home Is MOVE IN READY, Schools And New FRY'S Marketplace Now Open with Shopping Center Nearby. Full Builder Warranty.

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