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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3413 W Mineral Butte Drive San Tan Valley, AZ 85144

$514,900
4 Beds
3 Baths
3,151 SqFt
Status Active
MLS # 6667255
Property Type Single Family Residence
Price Type --
Experience the best of both comfort and accessibility in this spacious home located in the vibrant San Tan Heights neighborhood. Upstairs, you'll find four bedrooms and two bathrooms, along with a convenient landing area at the top of the stairs, providing ample space for relaxation and privacy. The downstairs den has been thoughtfully converted into an accessible space, complete with a roll-in shower, catering to diverse needs and lifestyles. The home's wheelchair-friendly design extends throughout the downstairs area, ensuring smooth and effortless movement for residents and guests alike. Additionally, a ramp at the entry enhances accessibility, making this home a welcoming haven for individuals with mobility challenges. Embrace the flexibility of the layout, where the den's co... Embrace the flexibility of the layout, where the den's conversion allows for various uses, whether it be a home office, guest suite, or additional living space, tailored to your specific needs and preferences. Parking and storage needs are easily met with the three-car garage, providing ample space for vehicles, recreational gear, and more, ensuring convenience and organization for busy lifestyles. Step outside to your own private oasis, complete with a refreshing pool, offering the perfect setting for relaxation and entertainment. The absence of a rear neighbor ensures enhanced privacy, creating a tranquil and secluded atmosphere for outdoor enjoyment. Take advantage of the numerous amenities offered within the San Tan Heights community, including a heated pool, workout facility, parks, and pathways. Exciting additions such as pickleball and tennis courts further enhance the community's appeal, catering to a variety of recreational interests and lifestyles. Overall, this home presents a rare opportunity to enjoy a blend of accessibility, comfort, and recreational amenities, making it an ideal choice for discerning buyers seeking a versatile and vibrant living experience in the San Tan Heights neighborhood.

5750 N 10th Street Phoenix, AZ 85014

$514,900
2 Beds
2.5 Baths
1,656 SqFt
Status Active
MLS # 6674011
Property Type Townhouse
Price Type --
Fully remodeled modern beauty! Spinnaker Place is a cozy community with only 16 homes and a community pool located in Uptown Phoenix. This home shines with NEW shaker cabinets, SS appliances, featuring refrigerator and wine fridge, quartz counters, & backsplash. Stunning NEW subway tiled wood burning fireplace,NEW modern railings, NEW flooring throughout. NEW indoor and outdoor lighting & ceiling fans throughout. Owner's suite has an amazing bath with oversized shower and balcony overlooking a private courtyard with maintenance-free artificial grass. Pool is steps away. This is the nicest unit in the entire community. mins from the biltmore with amazing shopping and fine dining, easy access to the 51 freeway and I-17.

250 W Queen Creek Road Chandler, AZ 85248

$514,900
3 Beds
3 Baths
1,934 SqFt
Status Active
MLS # 6678802
Property Type Townhouse
Price Type --
Model sharp! This luxurious townhome is located in an upscale gated community. This stunning home features a split floor plan with 2 master suites and 3 full bathrooms. Two car garage w/direct entry through a ground floor foyer. This truly modern townhome combines a spacious open floor plan with elegant upgrades throughout. The gourmet kitchen boasts quartz countertops, large island w/breakfast bar, pristine white cabinets, stainless steel appliances, and subway tile backsplash. The primary suite is exquisite including the expansive ensuite with its spa-like shower, dual vanities and huge walk-in closet. All of these features combined make for a well-appointed retreat with all the conveniences of a new home.

31709 N 164th Street Scottsdale, AZ 85262

$514,900
3 Beds
2 Baths
1,644 SqFt
Status Active
MLS # 6680711
Property Type Single Family Residence
Price Type --
Enjoy spectacular panoramic Mountain Views in Northeast Scottsdale!!! Your BRAND NEW energy efficient three bedroom home on OVER ONE ACRE with plenty of room for additional structures and toys awaits. Buy NOW and select all your interiors from the builders included options or go semi-custom. No HOA! Trailheads close and minutes to Bartlett Lake. Nearby restaurants and shopping with more development in the works. Perfect for outdoor and golf enthusiasts! Views of Four Peaks, Troon Mountain, Elephant Butte and Pinnacle Peak! Renderings are representation of elevation. Options displayed may vary. Advertised plan can be customized to add or subtract square footage. Street address listed may differ once assigned. Refer to APN. Additional plans available.

16459 E Morning Vista Lane Scottsdale, AZ 85262

$514,900
3 Beds
2 Baths
1,644 SqFt
Status Active
MLS # 6680723
Property Type Single Family Residence
Price Type --
Enjoy spectacular panoramic Mountain Views in Northeast Scottsdale!!! Your BRAND NEW energy efficient three bedroom home on OVER ONE ACRE with plenty of room for additional structures and toys awaits. Buy NOW and select all your interiors from the builders included options or go semi-custom. No HOA! Trailheads close and minutes to Bartlett Lake. Nearby restaurants and shopping with more development in the works. Perfect for outdoor and golf enthusiasts! Views of Four Peaks, Troon Mountain, Elephant Butte and Pinnacle Peak! Renderings are representation of elevation. Options displayed may vary. Advertised plan can be customized to add or subtract square footage. Street address listed may differ once assigned. Refer to APN. Additional plans available.

25941 N 162nd Drive Surprise, AZ 85387

$514,900 - 3Br/2Ba -  for Sale in Lot 129 Desert Oasis Baer Parcel B10 Mcr 135638, Surprise
Open House
$514,900
3 Beds
2 Baths
1,820 SqFt
Status Active
MLS # 6682656
Property Type Single Family Residence
Price Type --
Paid in full solar! This beautiful 3 bed, 2 bath residence in Desert Oasis is the one! Nestled on a corner lot displaying a delightful front yard, paver driveway & front patio, lovely stone accents, and a 2 car garage w/built-in cabinets. Discover a perfectly flowing great room paired with tile floors, neutral paint, and tons of natural light. The open-concept kitchen features granite counters & backsplash, ample staggered cabinetry, custom living room built in fireplace, a walk-in pantry, recessed lighting, and an island w/pendant lighting over the breakfast bar. Enter the main bedroom to find an ensuite with dual sinks & a walk-in closet. You'll love the large backyard offering a covered patio, synthetic lawn, and a fenced sparkling pool for year-round enjoyment! This gem is a MUST-S

2609 W Orangewood Avenue Phoenix, AZ 85051

$514,900
1 Bed
2 Baths
1,008 SqFt
Status Active
MLS # 6693224
Property Type Single Family Residence
Price Type --
Property with a big lot, with permits with city of Phoenix to built two garages in the back. Great Potential for Multifamily income property.

14752 W Buttonwood Drive Sun City West, AZ 85375

$514,888 - 3Br/2Ba -  for Sale in Sun City West 37 Lot 1-346 Tr A-h J, Sun City West
Open House
$514,888
3 Beds
2 Baths
2,550 SqFt
Status Active
MLS # 6560033
Property Type Single Family Residence
Price Type --
BRAND NEW ROOF 2024, DEC 2023 NEW INSULATED GARAGE DOOR, 2021 NEW HVAC & WATER HEATER. LOW TAXES & NO HOA. This home is delightful, well appointed on the perfect corner lot. Walking up to this home with lush well landscaped yard invites you to the double door entry. Upon entry you'll be welcomed by large living & dining area with grand vaulted ceiling. This popular split floor plan provides the perfect space. The Master Suite is large plenty of space for a sitting area with it's own private garden courtyard to enjoy. Master bathroom with walk-in closet, double sink, natural lighting with sky light. This home is beaming with natural light throughout including in the secondary living area and kitchen. The kitchen nook is perfect over looking the backyard beauty & garden. Kitchen spacious, wall oven , microwave, backsplash. The white on white decor is simple fresh and very inviting. To the west of the house you have the secondary bedroom with large walk in closet & Den which you could utilize as a 3rd bedroom. In-between both you have a very spacious bathroom. This home truly feels like home, it's colors, charm, aesthetics, and plan from the front to everything definitely feel like home. We welcome you to the Beauty on Buttonwood!!!

13422 N 151st Drive Surprise, AZ 85379

$514,888 - 4Br/3Ba -  for Sale in Marley Park Parcel 3, Surprise
Open House
$514,888
4 Beds
2.5 Baths
2,383 SqFt
Status Active
MLS # 6683728
Property Type Townhouse
Price Type --
Gorgeous Spanish Colonial! Large corner lot with mature landscaping. Oversized paved courtyard with custom hand forged wrought iron gate. Covered arched front patio with shade all day! Master suite downstairs! Prime location in Marley Park. Walk to club house, community pools, 20+ parks, A+ schools, and Bashas shopping center. 4 bedrooms, 2.5 bath, 2 car garage. Extreme vaulted ceilings, stone gas 2 way fireplace, warm maple cabinets and stair rails, all add to the charter and charm you won't find in a new home. Huge Master bathroom with 2 person soaking tub and remodeled tile shower! Upstairs 3 large spare rooms, desk area, bath with double sinks and remodeled tile shower! 2 new AC units 2021. Both units 17 seer with Reme Halo whole home air purifier system! New roof 2021! Wood shutters, water main, sunscreens, smoke detectors, lighting, toilets, facets, trim kits, water heater and appliances have been updated and replaced. HOA maintains landscape and outside paint. Close to everything Surprise has to offer, 1.6 miles to Texas Rangers and Kansas City Royals baseball stadium, Ottawa University, tennis and racquet complex, Library, Aquatic center. Enjoy Prasada shopping, restaurants and much more! Owner/ agent.

40911 N Prestancia Drive Anthem, AZ 85086

$514,850 - 3Br/2Ba -  for Sale in Anthem Country Club, Anthem
Open House
$514,850
3 Beds
2 Baths
1,616 SqFt
Status Active
MLS # 6622808
Property Type Single Family Residence
Price Type --
Welcome to 40911 N Prestancia Dr, Anthem, AZ 85086, located in the prestigious Anthem Country Club. This home offers a range of desirable features and is situated in an exclusive location, makes this home all your own with some new flooring and paint!! All at an incredibly competitive price. Upon entering, you'll immediately notice the attention to detail and meticulous maintenance this home has received. The interior boasts numerous upgrades and a thoughtfully designed layout, making it both functional and visually appealing. With all-new exterior paint, this home exudes a fresh and inviting atmosphere. The kitchen is truly a highlight, featuring cherry cabinets and stunning granite countertops. It offers ample space for preparing meals and entertaining guests. MORE Whether you're an aspiring chef or enjoy cooking for loved ones, this kitchen will exceed your expectations. The great room concept creates a spacious and open living area, ensuring there is no wasted space. The large living areas provide flexibility for arranging furniture and accommodating various activities. The tile flooring throughout the home adds a touch of warmth with its neutral tones, complementing any décor. The master bedroom is generously sized and includes a large walk-in closet, offering plenty of storage for your personal belongings. This retreat provides a tranquil space to unwind and recharge after a long day. Exuding curb appeal, the front elevation of the home is impressive and beautifully landscaped. The surrounding area is exceptionally peaceful, providing a serene setting to enjoy your surroundings. Living in Anthem Country Club allows you access to a wide array of unique amenities. Whether you're a golf enthusiast, tennis player, or simply enjoy an active lifestyle, this community has something for everyone. Take advantage of the clubhouse, fitness center, pools, parks, and other recreational facilities, all within close proximity to your new home. In addition to its outstanding location and amenities, this property has been upgraded with a new reverse osmosis system, new water softener, new microwave, new refrigerator, and a brand-new AC installed in 2022. These upgrades further enhance the value and convenience of this already exceptional home. Don't miss the opportunity to own this well-maintained residence in Anthem Country Club. With its attractive design, desirable features, and access to exclusive amenities, this property represents an incredible value. Schedule a showing today and experience the charm and elegance of 40911 N Prestancia Dr.

1750 S Torreon Lakes Drive Show Low, AZ 85901

$514,450
3 Beds
2 Baths
1,490 SqFt
Status Active
MLS # 6684599
Property Type Single Family Residence
Price Type --
BRAND NEW HOME TO BE BUILT. This virtual listing is an example of what we can build just for you. Let's build you this beautiful custom home with standard features like: stainless steel appliances, granite counters, vinyl plank flooring, soaring vaulted ceilings in the great room, low maintenance exterior with LP Smart Siding and Trex deck, covered front and back decks, etc. Open, split floor plan with 3 bedrooms and 2 bathrooms. Buyer to select exterior and interior finishes. Some modifications will be made to the floor plan to accommodate Torreon HOA Design Guidelines. To be built with the buyer's cash or construction loan. Estimated build time is 12 months from permits. Enjoy your very own home in the beautiful community of Torreon with amenities galore.

18018 N 135th Avenue Sun City West, AZ 85375

$514,000
2 Beds
2 Baths
2,424 SqFt
Status Active
MLS # 6693018
Property Type Single Family Residence
Price Type --
Welcome to a backyard Oasis with a Beautiful sparkling Pool. The backyard is plenty green with many fruit trees to choose from. The 2 Large split bedrooms give complete privacy for other family members or guests and both bedrooms offer a large walk-in closet. The Living Room is also separated from a Large extended Family Room for plenty of room to entertain or simply sit back and relax. The Kitchen has an abundance of cabinets as well as in the laundry room with a granite countertop and a new refrigerator to see. Solar is leased. See Doc tab for info on Solar. Home is furnished and all furniture can be purchased outside of escrow. So much to enjoy here. This home is also available for lease.

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