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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3541 E Sunnyside Drive Phoenix, AZ 85028

$515,000

3 Beds

2 Baths

1,704 SqFt

Status Active

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Property Type Single Family Residence

Price Type --

This amazing Phoenix home is now available! Inside you'll find an open concept living area with modern tile floor and easy access to the Arizona room (with AC!). The updated kitchen features granite countertops, a massive Whirlpool refrigerator, and plenty of storage. The north-facing primary bedroom has plenty of natural light and the remodeled primary bathroom has been detailed with bright white tile on the walk-in shower. The backyard includes pavers, grass, new iron gates and two storage sheds. Other bonuses include an updated roof (2022), new solar system (LOW to ZERO electric bills), new HVAC (2023), and no HOA! Conveniently located within walking distance to the neighborhood park and a quick drive to shopping, dining, and the AZ-51.

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19819 W Buchanan Street Buckeye, AZ 85326

$515,000

4 Beds

3 Baths

2,170 SqFt

Status Active

MLS # 6687116

Property Type Single Family Residence

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Finished immaculate single story 4 bed 3 bath home in the beautiful neighborhood of Blue Horizons! Large entry hall and 9 foot ceiling invite you into spacious white kitchen with country charm and unique subway tile backsplash, and a large island with breakfast bar. Solar, fully landscaped yard with heat-treated patio surface and a sparkling large play pool! Master is a tranquil retreat spa-like master bath and walk in shower with separate his/her sinks. Plenty of room in the secondary bedrooms for a large family or private den/craft room and guest rooms with separate bathrooms for each. In-wall doggie door and fenced off dog run with real grass, pavers in the right places. Bring your furniture and suitcases a must see!!

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17887 W Villa Hermosa Lane Surprise, AZ 85387

$515,000

4 Beds

3 Baths

2,204 SqFt

Status Active

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Property Type Single Family Residence

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Discover luxury living in Surprise, Arizona with this immaculately upgraded single-family home. Boasting 4 bedrooms, 3 bathrooms, and over 2,200 square feet of living space, this residence offers the perfect blend of comfort and sophistication. Step inside to find a modern interior with stylish finishes and an open-concept layout. The home features a versatile den/office, ideal for remote work or relaxation. The gourmet kitchen is a chef's dream, complete with high-end appliances, granite countertops, and custom cabinetry. Outside, the backyard oasis awaits, featuring a paver patio and synthetic grass for easy maintenance. Perfect for entertaining or simply enjoying the Arizona sunshine.

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4050 E Devon Drive Gilbert, AZ 85296

$515,000

4 Beds

2.5 Baths

2,094 SqFt

Status Active

MLS # 6689009

Property Type Single Family Residence

Price Type --

WELCOME HOME, This home features an open concept in main living area. 4 bedroom 2.5 bath with 2 car garage. Enter hone to welcoming living area, with great size kitchen with updated stainless steel applicances and granite counter tops, downstairs bedroom and remaining bedrooms including very large magnificent primary bedroom upstairs. Laundry room is conventiently located upstairs. Backyard includes artificial turf with mature trees, perfect to enjoy the outdoors without alot of maintenance Community maintains front yard and their community. Home exterior has been recently painted, and has permanent holiday lighting Great location, located near all types of amenities, shopping, restaurants, couple miles from San Tan Mall. Great location, located near all types of amenities, shopping, restaurants, couple miles from San Tan Mall.Home is located near the 202 freeway, allowing for easy access for commuters. Home is located on the corner lot - so only one neighbor next to home. Neighborhood features mature landscaping to an inviting entrance to your new home!!

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3815 W Phelps Road Phoenix, AZ 85053

$515,000

4 Beds

2 Baths

1,968 SqFt

Status Active

MLS # 6690491

Property Type Single Family Residence

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Welcome to this newly remodeled single-story home, boasting 4 bedrooms & 2 bathrooms. Located near ASU West & Much More. Step into the spacious Living room- perfect for gatherings. The adjacent kitchen features stainless steel appliances, granite countertops, breakfast bar & over looks adjacent family room. Throughout the home, modern fixtures adorn every corner, with new tile flooring & carpeting. The primary suite is complete with a 3/4 ensuite bathroom and a spacious walk-in closet. Step outside to a covered patio, RV gate, new grass seed has been layed & plenty of space to entertain. Don't miss this opportunity.

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1413 W Megan Street Chandler, AZ 85224

$515,000

3 Beds

2 Baths

2,116 SqFt

Status Active

MLS # 6690556

Property Type Single Family Residence

Price Type --

Location! Location! You'll love this classic and updated Chandler home located centrally to everything that's best about Chandler. Expanded master and master bathroom. Kitchen boasts granite countertops, island and stainless steel appliances. Water softener and R/O. Award winning Chandler schools.

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18945 W Laurel Lane Surprise, AZ 85388

$515,000

4 Beds

3 Baths

2,192 SqFt

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MLS # 6700167

Property Type Single Family Residence

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Step inside this like-new 4 bed/3 bath and appreciate the spacious well-designed layout. Split floor plan offers generously sized bedrooms for ample space and privacy. Open great room with dining and upgraded kitchen w/Maple Linen cabinets, Bianco Antico Granite and walk-in pantry. Primary suite w/huge walk-in closet, double sinks, large shower, extra cabinets. 2nd bedroom en-suite.Super Luxury flooring package with upgraded 12x24 ceramic tile & carpet. Extra cabinets and granite countertop at garage entry. Tankless water heater. Soft water loop. 3 covered patios, 1 w/travertine. Premium lot backs up to open space w/ partial view fence. Upgraded exterior elevation w/front porch and stone veneer. Newly completed epoxy Garage Floor. Updated Paint. Mountain Views. Energy Star rated home.

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4106 W Electra Lane Glendale, AZ 85310

$515,000

4 Beds

3 Baths

1,910 SqFt

Status Active

MLS # 6700472

Property Type Single Family Residence

Price Type --

NO HOA! Beautiful home in a beautiful neighborhood. Pride of ownership in beautiful condition. Near I-17 and the 101 provides quick access to freeways taking you quickly in any direction. New roof! New exterior paint. New water heater. New flooring throughout. All newer appliances and includes the washer, dryer and fridge. Beautiful Pebble Tec pool with water feature. Has a bedroom on the bottom floor. Mountain views with fantastic hiking trails nearby and near the water park, railroad park, RC park, shopping, and golf! No disappointments here!

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12931 W Blue Bonnet Drive Sun City West, AZ 85375

Open House

$515,000

3 Beds

2 Baths

2,033 SqFt

Status Active

MLS # 6702887

Property Type Single Family Residence

Price Type --

2024 TOP TO BOTTOM REMODEL! 2,033 square foot 3 bedroom / 2 bathroom home on nearly a ¼ acre lot!. New low E vinyl frame windows throughout including the Arcadia door! Open kitchen great room floor plan! Gourmet kitchen boasts white Shaker cabinetry, large center island with breakfast bar seating and trendy pendant lighting, quartz counter tops, upgraded sink and faucet, walk in pantry, large eat - in kitchen dining area, Butler area, and an LG stainless steel appliance package; refrigerator conveys! Enormous great room! Flush mount LED lighting! Upgraded LVP plank flooring (no carpet in home!) new interior paint and baseboards. Trendy light fixtures and ceiling fans throughout. All new drywall, ductwork and blown - in insulation. Large master suite with walk - in closet. One secondary bedroom also has a walk - in closet! New vanities, sinks, faucets, fixtures, and toilets in both bathrooms. Both bathrooms have double sinks and large walk in showers with tile surrounds! ADA compliant doorways. New electrical switches and outlets throughout. Large laundry room with sink, washer and dryer. Low maintenance front and back yard landscape. This is a must see! All facts and figures to be verified by buyer or buyer's representative.

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1201 E Northshore Drive Tempe, AZ 85283

Open House

$515,000

3 Beds

2 Baths

1,454 SqFt

Status Active

MLS # 6702328

Property Type Townhouse

Price Type --

Welcome to your lakeside retreat in Tempe's charming Lakes community! This freshly remodeled 3bd, 2bath upper level home is all about laid-back luxury and those unbeatable lake views! Step into an open, airy and updated home with vaulted ceilings, wood burning fireplace, updated kitchen to include: new cabinets, stainless steel appliances and quartz countertops. Newer high-end vinyl windows, doors and wood flooring. Large bedrooms and updated bathrooms! Runaway point offers a private community pool with lake view,. The Lakes community offers year-round swimming, pickleball, volleyball, racketball & basketball courts. Fitness center, BBQ Grills and playground. Conveniently located near shopping, dining, entertainment, ASU, freeways, and close to the airport!

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1468 N Hamilton Place Chandler, AZ 85225

Open House

New

$515,000

3 Beds

2 Baths

1,632 SqFt

Status Active

MLS # 6704681

Property Type Single Family Residence

Price Type --

Check out this 3-bed, 2-bath Chandler remodel in the heart of Stonegate Crossing located perfectly across from Stonegate Park! NO HOA! Fantastic Location with no neighbors behind! RV gate/parking, 2-car garage w/built-in cabinetry, & extra-long driveway allow you to bring all your vehicles! The light & bright floor plan features a welcoming entryway, arched doorways, vaulted ceilings, a fireplace, & thick baseboards. The L-shaped great room & cozy family room provide endless entertainment possibilities! Cook delicious meals in the ample kitchen showcasing built-in appliances, wood cabinetry, a breakfast bar, & a pantry. Oversized main bedroom has dual closets & an ensuite w/grab bar in the shower & an L-shaped vanity w/double sinks. Discover a backyard w direct park access. Plus solar.

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14253 S Cholla Canyon Drive Phoenix, AZ 85044

Open House

$515,000

3 Beds

2 Baths

1,438 SqFt

Status Active

MLS # 6702271

Property Type Single Family Residence

Price Type --

ONE STORY GEM IN MOUNTAIN PARK RANCH!! Vaulted ceilings. 20'' neutral tile/ plush carpet throughout & 2-tone paint. Kitchen remodeled with granite and stainless appliances. Baths with granite, & white cabinets and newly tiled shower/tubs. Newer windows in bedroom area & newer great room patio doors. Nice backyard w/large patio Perfect location in the Ahwatukee/Foothills area with great shopping/restaurants and freeway access.

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