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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4363 E Pony Lane Gilbert, AZ 85295

New

$515,000

4 Beds

3.5 Baths

2,029 SqFt

Status Active

MLS # 6696081

Property Type Single Family Residence

Price Type --

Don't miss this beautiful Gilbert home in the neighborhood of Cooley Station. As you enter this home, you step into a large great room floorplan that flows into the kitchen and outdoor patio. The 18' stacked sliding patio doors connects indoors to the outdoors for great entertaining. Kitchen features lots of cabinets, Quartz countertops, breakfast bar and walk-in pantry. Half bath is just off of the kitchen. All 4 bedrooms, 3 Full Bathrooms and convenient laundry room are all upstairs. Primary bedroom features 2 walk-in closets, balcony through sliding glass door, en-suite bathroom with dual sinks and walk-in shower. 2nd bedroom features en-suite bathroom. Front/back yards maintained by HOA. Community includes pool, basketball court, playground and parks. Close to San Tan Village Mall.

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16286 W Scarlet Canyon Drive Surprise, AZ 85374

$515,000

2 Beds

2 Baths

2,035 SqFt

Status Active

MLS # 6599560

Property Type Single Family Residence

Price Type --

This recently upgraded gem boasts new lustrous vinyl flooring that adds a touch of modern elegance to the interiors. The entire space has been thoughtfully painted, creating a fresh and inviting atmosphere throughout. Prepare to be amazed by the brand-new white cabinets gracing both the kitchen and bathrooms. These cabinets not only offer ample storage but also lend a clean and sophisticated look to the living spaces. The countertops have been upgraded to luxurious quartz, adding a touch of class and durability to your living experience. With an office included in the layout, this home caters to the needs of remote work or a quiet study space, providing the perfect blend of comfort and functionality. As part of a wonderful community, you'll have access to a golf course that is sure to delight golf enthusiasts. Imagine leisurely rounds of golf against the backdrop of the stunning Arizona landscape. Experience modern living combined with tasteful design in a community that offers both convenience and recreational amenities!

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16375 W Windcrest Drive Surprise, AZ 85374

$515,000

2 Beds

2 Baths

2,035 SqFt

Status Active

MLS # 6599509

Property Type Single Family Residence

Price Type --

This remarkable home has undergone a stunning remodel that is sure to impress. Step inside and be greeted by the elegance of new vinyl floors that seamlessly flow throughout the space. The kitchen has been beautifully updated with white cabinets that provide ample storage while creating a bright and inviting atmosphere. The countertops in both the kitchen and bathrooms have been upgraded to sleek Quartz, adding a touch of luxury to your everyday life. In addition to the impressive interior, this home boasts an office space, allowing you to effortlessly manage your professional and personal tasks from the comfort of your own home. What sets this home apart is its incredible community that features a golf course. Golf enthusiasts and nature lovers alike will find solace in this unique setting. Convenience, elegance, and a touch of luxury define this exceptional property!

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1716 Alpine Meadows Lane Prescott, AZ 86303

$515,000

2 Beds

2 Baths

1,687 SqFt

Status Active

MLS # 6628402

Property Type Townhouse

Price Type --

Step into luxury with this fully furnished 2BD/2BA Hassayampa condo, boasting a private office, elevator, and 2-car garage. Gaze out at the golf course and Thumb Butte from the deck, cozy up by the gas fireplace, or cook in style in the kitchen with custom cabinets and granite countertops. The master suite offers ample wardrobe space, while central air and a built-in washer and dryer add convenience. This gated community gem is the perfect Prescott haven, ready for you to move in and enjoy...

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330 W Verano Place Gilbert, AZ 85233

$515,000

4 Beds

2 Baths

2,123 SqFt

Status Active

MLS # 6630025

Property Type Single Family Residence

Price Type --

CORNER LOT OF A CUL DE SAC! Nestled in the middle of a quiet neighborhood, close to freeways and downtown Gilbert. Floorplan features split bedrooms, a family room, formal living and dining area. Backyard has a fountain and an extra building w/ 220/115 that would be a nice workshop. The 2nd bathroom has an exit to the patio that is a great asset to entertaining. Garage features built in closets and a work bench w/a vise. Extra parking slab to right of driveway. Lots of upgrades. Lots of tile, vaulted & 10' ceilings and skylights. Washer, Dryer and Refrigerator conveys. Buyer(s) and Buyer Agent to verify all information.

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4525 N 66th Street Scottsdale, AZ 85251

$515,000

2 Beds

2 Baths

1,962 SqFt

Status Active

MLS # 6633331

Property Type Townhouse

Price Type --

This STUNNING REMODEL has a unique, open floorplan that will be the envy of everyone! Owner has created a home that is open. light and bright, with designer touches everywhere! Beginning with the new tile flooring & reconfigured chef's kitchen, enjoy the raised ceilings, gorgeous two-toned cabinets, sparkling quartz countertops & glass backsplash tile, and all new kitchen island & ''smart'' Thermador stainless appliances! This open kitchen is truly one-of-a-kind and it opens beautifully to the adjacent family room providing a wonderful layout to relax or entertain guests! The family/dining area also has raised ceilings, and a wall of windows that brings in lots of light, and views to the beautifully landscaped backyard! The home office/den connects to the family room, and easily converts to a 3rd bedroom! Step into the master bedroom & bath, again featuring gorgeous new modern tile finishes and cabinetry, and a new walk-in shower! Master bdrm includes a large walk-in closet, and views to the professionally landscaped front yard & garden. The second bathroom is also completely remodeled with gorgeous tile & glass, perfect for spoiling your guests! Step outside to the expansive covered patio and enjoy a large lot with professionally landscaped & maintained yard & gardens! This outdoor space is perfect for relaxing, entertaining and enjoying your pets! This amazing guarded-community offers tons of ammenities including 3 pools, tennis & gaming courts, a workout facility and event space, and peace-of-mind with complete exterior maintenance of the home! All these amazing home features PLUS its perfect location in the heart of Scottsdale with quick access to Fashion Square Mall, Old Town Scottsdale, tons of restaurants, golf and hiking...you don't want to miss this incredible home!

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18156 W Desert Willow Drive Goodyear, AZ 85338

$515,000

4 Beds

3 Baths

2,672 SqFt

Status Active

MLS # 6642500

Property Type Single Family Residence

Price Type --

Nestled in the heart of Goodyear, Arizona, 18156 W DESERT WILLOW DR stands as a testament to comfort, style, and modern living. This meticulously designed residence is more than just a house; it's an invitation to a lifestyle where every detail has been carefully considered to create a haven that truly feels like homeAs you step through the front door, you are greeted by an open and inviting atmosphere. Sunlight streams through large windows, bathing the living spaces in warmth. The thoughtful layout seamlessly connects the living, dining, and kitchen areas, creating a harmonious flow that is perfect for both everyday living and entertaining guests. The kitchen, the heart of any home, is a chef's dream. Modern appliances, ample counter space, and tasteful finishes make this space as functional as it is beautiful. Whether you're preparing a quick weekday meal or hosting a dinner party, this kitchen is sure to inspire culinary creativity.

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17850 N 68th Street Phoenix, AZ 85054

$515,000

2 Beds

2.5 Baths

1,590 SqFt

Status Active

MLS # 6650560

Property Type Townhouse

Price Type --

Location! Location!! Lowest price per sq. ft for sale in the community!!! Welcome to the highly sought after Gated Luxury Community of Monterey Ridge. Beautifully updated 2 Bedroom/2.5 bathroom in Scottsdale with a 2 car garage LISTED BELOW APPRAISED VALUE. New custom window shutters, New hot water heater, New dishwasher, New paint and Much more... Master bedroom has its own private Den as well as each bedroom/bath has its own floor for privacy. Property is close to the 101 fwy, Mayo Hospital as well as walking distance or a nice bike ride to shopping and delicious well known restaurants. Come enjoy the North Scottsdale Lifestyle! * No-one lives above you or below you and you do not live on top of a garage or a neighbors garage like some other floor plans* Very charming property.

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3500 E Torrey Pines Lane Chandler, AZ 85249

$515,000

2 Beds

2 Baths

1,516 SqFt

Status Active

MLS # 6650176

Property Type Single Family Residence

Price Type --

**Golf course lot**Charming property in the 55+ community of Springfield Lakes/Solera Chandler with fresh interior paint, new granite counter tops, sink & disposal. Spacious great room floor plan w/rich espresso cabinets, modern built-in appliances, pantry, island-breakfast bar for casual dining. Serene main bedroom w/private bathroom, dual sinks and 2 walk-in closets**. Dbl-doors den is perfect for an office. Garage has attached cabinets for extra storage. Oasis of newly redone backyard, covered patio and ample space for lively barbecues or peaceful afternoons. This property is not just a house; it's a gem waiting to be your perfect home! Come take a closer look**some furnishings available on separate Bill of sale.

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5755 W Ivanhoe Street Chandler, AZ 85226

$515,000

3 Beds

2.5 Baths

1,873 SqFt

Status Active

MLS # 6667917

Property Type Single Family Residence

Price Type --

Nestled in the serene neighborhood of Mays Pond in Chandler, AZ this beautiful 2-story home offers a perfect blend of comfort and style. Boasting a freshly painted interior, 3 beds & 2.5 baths, granite kitchen countertops, this charming residence provides ample space for both relaxation and entertainment. The open floor plan on the main level seamlessly connects the living room, dining area, and kitchen, creating a welcoming atmosphere for gatherings with family and friends. Upstairs features updated flooring, the spacious bedrooms offer a peaceful retreat, with the master suite featuring a private en-suite bathroom for added convenience. Great location with easy access to shopping, dining, & entertainment options, as well as top-rated schools & beautiful community park, paths plus more!

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15074 W Bloomfield Road Surprise, AZ 85379

$515,000

4 Beds

2.5 Baths

2,483 SqFt

Status Active

MLS # 6660394

Property Type Single Family Residence

Price Type --

This move-in ready beauty is just waiting for you to call it home! Prime location close to schools, shopping, walking trails, entertainment and easy freeway access. Bright and airy home has 10 foot ceilings, wood-grain tile on ground floor and ceiling fans throughout. Kitchen boasts large island, granite countertops & backsplash, SS appliances and ample pantry space for all your hosting needs. Upstairs you'll find a loft perfect for den, office or playroom and master with huge walk-in closet. The backyard oasis includes extended patio with pavers, mature landscaping, grass, garden area and sparkling pool with baja shelf for ultimate relaxation. Updates include: new HVAC, garage door motor, irrigation timer and pool filters.

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13867 N 159th Drive Surprise, AZ 85379

$515,000

5 Beds

3 Baths

2,583 SqFt

Status Active

MLS # 6662699

Property Type Single Family Residence

Price Type --

This home has so much to offer, the floor plan is so spacious; 5 Bedrooms with 3 full bathrooms + a den/office; Very large Master bedroom (upstairs);Large Master bathroom has double sinks, vanity and separate shower and jet tub, with a walk in closet; 3 more large bedrooms upstairs with a full Hall bathroom;1 bedroom and a full bathroom downstairs; Granite counter tops in the kitchen;Ceiling Fans in all the rooms;Both AC units replaced within the last 5 years;Newer water heater & Pool Pump; Cul-da-sac lot;Oversized pie shaped lot;Fenced Play pool with lots of pool deck;Beehive Gas fireplace with gathering area to enjoy the outdoors both in winter and Summer;Close to the 303; shopping and Restaurants

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