What’s Ahead For Mortgage Rates This Week – November 14, 2016

Last week’s economic news included readings on job openings, consumer sentiment and the Federal Reserve’s monthly survey of senior loan officers. Weekly reports on mortgage rates and new jobless claims were also released. Freddie Mac noted that last week’s primary mortgage market survey did not include post-election readings as the survey information was gathered prior to election results.

Loan Officers Survey: High Demand for Home Loans, Commercial Lenders Raise Standards

As demand for mortgage financing and homes increase, the Federal Reserve reported last week that banks are tightening the screws on commercial lending requirements. This could present challenges to home builders; they’ve been consistently pressured to build more homes at a faster pace. Less availability of commercial financing may impact home builders and their suppliers. The survey indicated that demand for home and consumer loans also increased.

Mortgage Rates Rise, New Jobless Claims Fall

Mortgage rates rose across the board on average. Freddie Mac reported the rate for a 30-year fixed rate mortgage rose three basis points to 3.57 percent. The average rate for a 15-year fixed rate mortgage increased four basis points to 2.88 percent, which equaled the average rate for a 5/1 adjustable rate mortgage. Average discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims fell to 254,000, which was lower than the expected reading of 260,000 new claims. Last week’s reading was also lower than 265,000 new claims filed the prior week. Job openings held steady at 5.50 million in September.

According to the University of Michigan’s monthly consumer sentiment index, November’s reading rose 91.60 in November as compared to an expected index reading of 88.00 and October’s reading of 87.20. This reading falls in line with strengthening labor markets. Improving economic conditions can influence consumers who want to buy homes.

Whats Ahead

Next week’s economic reports include releases from the National Association of Home Builders, Commerce Department readings on housing starts and building permits issued and weekly releases on new jobless claims and mortgage rates.

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6215 N Casa Blanca Drive Paradise Valley, AZ 85253

$18,500,000
6 Beds
10 Baths
11,131 SqFt
Status Active
MLS # 6796683
Property Type Single Family Residence
Price Type --
Completing construction Feb 2025. A HUGE 3.17 ACRE ESTATE on Casa Blanca Drive, one of the most exclusive streets in Paradise Valley! Perfect VIEWS OF CAMELBACK MTN + PRAYING MONK, enormous grass grounds, a 75 ft lap pool with room for 6 chaise pool lounges lined up on a baja shelf, lit tennis court w/ pickle ball + ramada w/ barbecue, ceiling heaters + air conditioned serving rm. Just about NO WATER BILL for the huge grass grounds because the PROPERTY IS ON A WELL!! The home and guest home are 11,131 sq ft total, with 6 bedrms, 10 baths, gym w/ sauna, theater, bar rm, office + children's game rm. The kitchen boasts two islands + flows into the main living areas w/ glass walls framing panoramic views. A rare opportunity with luxurious amenities and finishings! MORE PHOTOS COMING!

7201 N Mockingbird Lane Paradise Valley, AZ 85253

$18,000,888
5 Beds
6 Baths
9,650 SqFt
Status Active
MLS # 6796965
Property Type Single Family Residence
Price Type --
Stately Mummy Mountain views inspire from this incredible desert modern estate on nearly 1.4 acres in the heart of Paradise Valley!The main house features 4 bedrooms, 5 bathrooms, office, theater room, bar and fitness room with sauna and steam room. The detached guest house offers 1 bedroom, 1 bathroom, kitchen and living room. The showstopper backyard with lush landscaping and mature palm trees showcases an incredible lap pool with spa, sport court, spa-like alcove with hot tub and cold plunge, putting green, & gazebo with a spiral staircase to an amazing view deck! Conveniently located within minutes to the new Ritz Carlton and the best shopping, dining, golf and entertainment!

7150 N 40th Street Unit 11 Paradise Valley, AZ 85253

$17,800,000
5 Beds
6.5 Baths
9,333 SqFt
Status Active
MLS # 6753729
Property Type Single Family Residence
Price Type --
Discover the Ruby residence in Crown Canyon, Arizona's most exclusive gated community. Ruby's organic design nestles harmoniously into the north facing slope of the breathtaking two-acre parcel with both framed canyon views and distant vistas of Paradise Valley. This project embodies southwestern contemporary design with an organic stone plinth that grounds the program into the hillside. Horizontal steel blades cantilevering out above the desert floor below provide shade in the harsh climate while maximizing indoor and outdoor living. The palette draws warmth from the canyon geology, allowing the project to blend harmoniously with the pristine desert. The design amplifies and channels views from all spaces while providing an impressive 7 show car garage concealed into the stone plinth with oversized pocket doors that enrich the organic design. This set the stage for the sensational two-story glass atrium with floating stairs, double height pivot door, and a floating bridge which takes you to your private master suite, featuring exercise/spa area, office, laundry room, master closet and two water closets. The core of the living and entertainment space are situated on the western wing, capturing desert sunrise views and allowing for seamless flow to the elevated outdoor terrace and pool deck. Enjoy everyday living on top of the world! Crown Canyon is a secluded and untouched 30-acre enclave in the prestigious community of Paradise Valley. Nestled within a breathtaking mountain preserve, this is home to 12 exceptional luxury residences. Meticulously designed by renowned architects, these one-of-a-kind homes embrace the natural beauty of the surroundings, maximizing the captivating views and unique topography of each homesite. Experience tranquility, seclusion, and utmost security within this gated haven, ensuring unparalleled peace of mind.

9428 E Pinnacle Vista Drive Scottsdale, AZ 85255

$17,500,000 - 6Br/8Ba -  for Sale in No Hoa, Scottsdale
New
$17,500,000
6 Beds
8 Baths
11,334 SqFt
Status Active
MLS # 6805353
Property Type Single Family Residence
Price Type --
Emerging from the sculpted desert, Pinnacle Mirage is an 11,300-square-foot estate and is more than a home-it's a masterpiece. In the style of Zaha Hadid, this oasis offers six bedrooms, eight bathrooms, and endless mountain views, its contours echo ancient canyons, a bold declaration of exclusivity. Sunlight guides you along a winding driveway to a serene circular retreat, where tranquility begins. A wall of curved glass transforms the four-car garage into a gallery bathed in natural light, showcasing your vintage Ferraris and sleek Lamborghinis as works of art. This is not just storage; it's an expression of passion and style.. The European-inspired gourmet kitchen becomes the heart of connection, with a hidden wet kitchen discreetly supporting culinary creations. The grand office lounge, adorned with floor-to-ceiling glass panels where natural light and peaceful ambiance create a perfect escape from the bustle of work. Descend a minimalist steel staircase to the partial basement, a haven of wellness with treadmills overlooking canyons and a private spa featuring a Finnish sauna, steam room, and ice room. Here, rejuvenation meets luxury. Ascend the spiral staircase to the rooftop terrace, a 2,200-square-foot sanctuary with breathtaking views of Pinnacle Peak, city lights, and the vast Sonoran Desert. The resort-style backyard invites you to unwind and entertain with a free-form pool, multiple seating areas, a sunken spa, a cozy fire pit, an outdoor kitchen, and countless other features designed for relaxation and enjoyment. This is not just a vista but a declaration of your place among life's extraordinary. This is more than a house; it's a canvas for your vision, a legacy of desert serenity and grand-scale entertaining. With its impeccable design and unparalleled luxury, this estate dares you to claim your sanctuary. Your story begins here.

8100 N 68th Street Paradise Valley, AZ 85253

$17,500,000
5 Beds
11 Baths
17,912 SqFt
Status Active
MLS # 6780460
Property Type Single Family Residence
Price Type --
Transport yourself to a bygone era of grandeur with this luxurious 17,912 SF estate, set in the heart of Paradise Valley. Designed by world-renowned architect Juan Sandoval, this architectural masterpiece spans 3 acres, featuring 5 opulent bedroom suites and 11 baths, each designed as a private retreat, featuring fireproof walls, wet bars, and exquisite finishes. Upon entering the estate, the attention to detail is immediately apparent with a custom 13' Honduran Mahogany entry door, flanked by lush courtyards adorned with fountains and over 600 rose bushes. The estate's central courtyards lead to a stunning 60'x60' mosaic-tiled saltwater pool and spa, offering a serene focal point for outdoor living. This residence combines Old World elegance with modern conveniences, all within ... a secured 45,000 SF perimeter. Inside, the residence is a showcase of artisanal mastery. Venetian plaster, marble, and granite adorn every surface, while custom wood coffered ceilings and ironwork, created on-site, add layers of bespoke detail. The kitchen is a chef's dream with top-of-the-line appliances, including four Sub-Zero refrigerators, five KitchenAid dishwashers, and a 60 Wolf gas cooktop. Beyond, the estate features expansive living and entertaining spaces, including a 10,000-square-foot arcade, a game room with a walk-in bar, and an unfinished basement ready to accommodate whatever your heart desires. The estate is also equipped with cutting-edge technology, including Lutron home automation, hidden HVAC vents, and custom cabinetry throughout. The attention to detail extends to the smallest touches, such as stone kick plates under every cabinet and handcrafted Canterra stone accents. This is more than a homeit's a living work of art perfected by artisans over a 9-year period, blending historic design with modern luxury and security, offering an unparalleled lifestyle for those who appreciate the finest things in life. This could be your own private Royal Palms and it must be seen and experienced to be believed!

5802 E Cholla Lane Paradise Valley, AZ 85253

$17,000,000
4 Beds
6 Baths
9,500 SqFt
Status Active
MLS # 6785075
Property Type Single Family Residence
Price Type --
On 4 acres, majestically nestled on the highest point of Camelback Mountain. Designed by renowned architect Ken Hutchinson, the house is a sculpted piece of art, with walls following radius points of soft curvatures, some with a flowing ribbon effect. Eyes are drawn to an intricate, voluminous domed ceiling with groin vaults and an expansive 40-ft. radius wall of glass with unobstructed views towards the McDowell and Four Peaks Mountains and sparkling city lights. Boulder outcroppings have been thoughtfully incorporated into the architectural design, creating a striking visual statement. A cantilevered, 52-ft. mosaic-tiled pool and spa, an outdoor kitchen and sauna are the destination point for an unparalleled luxurious outdoor experience. A nearby supplemental indoor kitchen supports the outdoor lifestyle. The split primary bedroom features a private upper deck patio, dual baths and highly finished walk-in closets. Guest bedrooms enjoy a secondary family room opening to a view patio. This sculpted piece of art offers a truly remarkable living experience. Only the 2nd offering of this precious, iconic property, at the zenith of Camelback Mountain.

5823 N Invergordon Road Paradise Valley, AZ 85253

$16,999,888
6 Beds
8 Baths
10,365 SqFt
Status Active
MLS # 6803015
Property Type Single Family Residence
Price Type --
Arizona's #1 custom home build team, Norton Luxury Homes & Stately Development, with over a decade of designing and building Paradise Valley's most exclusive residences, present an opportunity to own the next custom estate, on 2.25 acres, priced below market value as a pre-sale. The sister property by the exact same build team just completed next door and sold for $18,750,000 as a pre-sale. Paradise Valley's next large estate lot with epic views of Camelback Mountain, Mummy Mountain, and the McDowell Mountains can be yours. This stately residence boasts 6 Bedrooms, 8 Bathrooms, Game Room, Library, 6 Garages, Bar, Guest House and Incredible Outdoor Entertainment spaces. Purchase the property before completion like next door to buy below market value before price increases occur.

20567 N 112th Street Scottsdale, AZ 85255

$16,250,000
6 Beds
8.5 Baths
13,272 SqFt
Status Active
MLS # 6774451
Property Type Single Family Residence
Price Type --
Motivated Seller and SILVERLEAF GOLF MEMBERSHIP opportunity available. Nestled within the prestigious Silverleaf community's Upper Canyon, this magnificent Mediterranean Estate is a testament to extraordinary craftsmanship and design. Spanning an impressive 13,272 square feet, this residence offers unrivaled vistas of the cityscape, mesmerizing sunsets, and the majestic mountains of Scottsdale, Arizona. Crafted through a seamless collaboration between the visionary Mark Candelaria of Candelaria Design, the master builder John Schultz of Schultz Development, and the renowned interior designer Isabel Dellinger Candelaria of Earth and Images, this home radiates elegance at every turn. The result is a sophisticated sanctuary, decorated with the finest luxury finishes and meticulous attention to detail. The thoughtfully designed great room floor plan provides a harmonious flow, separating the principal suite from the guest wing of the home with a private entrance hosts five generously appointed en-suite guest rooms, each boasting king-sized accommodations. This layout offers both privacy and comfort for residents and guests alike. Step outside to discover a breathtaking outdoor oasis, featuring a captivating negative edge pool, a generous spa for ultimate relaxation, and multiple inviting seating areas set amidst flawlessly manicured gardens. This al fresco retreat is an idyllic backdrop for intimate gatherings or grand-scale entertaining. Embodying the pinnacle of architectural excellence in the esteemed Silverleaf community, this Mediterranean Estate offers an unparalleled lifestyle of luxuriousness, elevated by its breathtaking natural surroundings. This is a residence that redefines luxury living in Scottsdale, Arizona. Silverleaf, located in North Scottsdale, Arizona, is a prestigious guard gated community known for its luxurious estates, exclusive golf courses, private Club and stunning desert landscapes. The Tom Weiskopf-designed Silverleaf Golf Course is a highlight for golf enthusiasts. With a blend of Spanish and Mediterranean-inspired architecture, the community offers a high standard of living, including upscale amenities like spas, fine dining, and exclusive shopping. Residents enjoy a harmonious balance between modern luxury and the natural beauty of the desert environment, making Silverleaf a sought-after destination for those seeking an exceptional lifestyle in North Scottsdale.

7140 N 40th Street Unit 12 Paradise Valley, AZ 85253

$16,200,000 - 4Br/6Ba -  for Sale in Crown Canyon, Paradise Valley
Open House
$16,200,000
4 Beds
6 Baths
8,132 SqFt
Status Active
MLS # 6672341
Property Type Single Family Residence
Price Type --
MOVE IN AFTER THE NEW YEAR! Discover unparalleled privacy and serenity with the Jade residence in Crown Canyon, Arizona's most exclusive gated community under development by renowned builder BedBrock Developers. This award-winning ultra luxury home with architect CP Drewett and interior designer Mara Green is a true masterpiece. Its distinctive Frank Lloyd Wright inspired triangular form features primary living on the main level with soaring 19-foot ceilings that ascend to an impressive 24 feet encapsulated in glass. A grand staircase, or elevator for ease, takes you to the lower level with two secondary en-suite bedrooms, an oversized game/family room complete with a bar, and a separate fitness room. A detached casita perched above the four-car garage rests seamlessly on the hillside, offering a private retreat for guest. Sprawling outdoor decks, fireplaces and an outdoor kitchen surround the infinity pool and spa capturing 250 degree views of the raw desert landscape. This one-of-a-kind home is customized with premium materials and appliances, showcasing dramatic steel beams and meticulous attention to detail throughout. Discover the exquisite allure of Crown Canyon, a secluded and untouched 30-acre enclave in the prestigious community of Paradise Valley. Nestled within a breathtaking mountain preserve, this is home to 12 exceptional luxury residences. Meticulously designed by renowned architects, these one-of-a-kind homes embrace the natural beauty of the surroundings, maximizing the captivating views and unique topography of each homesite. Experience tranquility, seclusion, and utmost security within this gated haven, ensuring unparalleled peace of mind.

5446 E Exeter Boulevard Phoenix, AZ 85018

$16,000,000
5 Beds
6 Baths
10,000 SqFt
Status Active
MLS # 6803606
Property Type Single Family Residence
Price Type --
Coming soon - The Estate on Exeter! Renovate your dream home with TWR Real Estate Partners in Arcadia proper. Designed by Blochberger and built by Sticks & Bricks, this over 10,000 sq ft estate features Camelback Mountain views in the Hopi district and on the highly coveted Exeter street. Designed with luxury in mind, this property will feature a Chef's kitchen, cinema, gym/spa, and resort-style pool, with an emphasis on seamless indoor/outdoor living. Located minutes away from Arcadia and Scottsdale's top resorts, golf, dining, and shopping. Opportunity to renovate or demo and rebuild on one of the best lots on Exeter!

12390 E Triple T Lane Prescott Valley, AZ 86315

$15,958,650
6 Beds
10 Baths
11,400 SqFt
Status Active
MLS # 6750027
Property Type Single Family Residence
Price Type --
Discover an unparalleled opportunity on 206.75 exquisite acres in the heart of Prescott Ridge, a prestigious gated community in Prescott Valley. This extraordinary property is arguably the most coveted in the region, offering endless opportunity and unmatched luxury. The main residence spans 11,400 square feet of custom construction, exuding elegant Western ranch style and boasting spectacular awe inspiring panoramic views in every direction from its unique location atop the tallest peak in the prestigious Prescott Ridge development. The home's stunning interiors are adorned with natural stone, beveled travertine floors, and custom window treatments featuring numerous gas fireplaces, art niches, six guest ensuites of the ten bathrooms, as well as a Sonos sound and intercom system. Additionally, there is ample space for a dozen or more vehicles in the multiple garages and exterior parking for dozens more. Perfect for all your visitors and/or toys. The grand foyer instantly impresses with a brick barrel vault ceiling and indirect lighting, while the formal dining room showcases a stately coffered ceiling. The gourmet kitchen is a chef's dream featuring Poplar custom cabinetry, black granite countertops, dual Sub-Zero refrigerators, dual wall ovens, a large island with a six-burner gas range, a pizza oven, butlers pantry, large breakfast room and views, views, views! The impressive great room is ideal for entertaining with a gas fireplace, stone chimney, a 10 seat wet bar with a copper top, under-bar lighting and stone backsplash. Enjoy cinematic experiences in your own theater equipped with a 120 high-definition projection system, terraced recliner seating for eight, and auto-draw cinema curtains. Additional luxury amenities include a game entertainment lounge with a kitchenette, pool table, social area and beehive gas fireplace. Off the entertainment lounge is an immense Arizona room that offers a weatherproof glass-enclosed space with paver floors, BBQ grills, a gas fireplace and unparalleled unobstructable views forever! The property's six ensuite guest bedrooms offer comfort and style, each with ¾ baths, walk-in closets, and covered outdoor patios with views. The primary suite is a personal oasis complete with a sitting area, gas fireplace, a private covered patio, a lavish bathroom with his-and-her closets, a spa-like sanctuary with a jetted tub, fireplace and a full steam shower. Adjacent to the primary suite, the glass enclosed gym provides jaw dropping unlimited views, state of the art interactive gym equipment, and a wet bar. The outdoor living is elevated with a fabulous courtyard featuring stunning landscaping, lounging areas, gas fire pits, and a pool/hot tub. Expansive covered patios provide ample shade, while the grand gazebo includes a stone outdoor kitchen, water feature, and retractable screens. Accommodations continue with 3 separate guest quarters, alongside high end horse stables, mare motel pastures, and functional horse facility round pen and eurosizer style equipment all supported by an impressive 50+ GPM well. For more information on equestrian elements, please reach out. The expansive land, adjacent to state trust land, offers paved access and is primed for future development. The seller has completed the engineering process of subdividing the 206.75 acres into additional building sites/lot splits (minimum 10-acre plots). Conveniently located just 20 minutes from Prescott Airport, this property is ideal as a corporate/family retreat or a luxurious equestrian estate with unlimited riding access. If privacy and security are essential, this property answers that need. While only 15 minutes from shopping and dining, access to the property requires passing through two security gates and traversing a half-mile long easily guarded private entry drive. A lower guest apartment along the entry drive provides the opportunity for a final detached security point before reaching the main residence. With the ability to add a helicopter pad, you are a short flight south to Maricopa County or other surrounding areas. The property lies adjacent to State Land to which Prescott Ridge residents enjoy private access through three keyed gates. From there you can explore the Arizona back country on endless dirt roads and riding trails north, east and west into Prescott National Forest. There's even a back way over the Mingus Mountains to historic Jerome. Pack lunch to eat at a scenic spot along the trails or eat at one of the many eclectic restaurants in town. Hop back into your side-by-side and arrive back at your dream home without ever traveling on a paved road between destinations. See documents tab for all personal property included in the sale of this home. This undeniably exceptional estate combines natural beauty, spectacular amenities, and limitless possibilities, offering a rare opportunity to own a coveted dream living experience in one of Prescott's most sought-after locations.

4939 E Mockingbird Lane Paradise Valley, AZ 85253

$15,895,000
8 Beds
10 Baths
10,051 SqFt
Status Active
MLS # 6773397
Property Type Single Family Residence
Price Type --
Set on 2.07 acres with commanding views of Mummy Mtn, this new 10,051 sf transitional estate finished Nov. 2022, has a massive turf lawn, NBA basketball court with tennis and pickleball lines, 2 guest homes and garages for 20+ cars! Enter an elegant great room with light oak floors +16 ft ceilings open to a chef's kitchen w /quartzite island + large back kitchen. In addition to the 6 car garage attached to the house-- there is a HUGE MULTI-PURPOSE 16 FT HIGH AIR CONDITIONED BUILDING for 3 RV's, 15+ cars or an amazing entertainment space! 4/5 bedrms in the main house plus 2 guest homes-- a 1 bedrm + 2 bedrm, each with their own kitchen, livingrm + laundry. Fully solar with minimal electric bills. There is also a fabulous pool+ spa, cooking ramada, life-size chess set + fire-pit! Large paver driveways will accommodate approximately 30 cars. The cabinetry and finishes are absolutely beautiful. The huge grass is all turf- so no water bills for the grass! There is a large back kitchen with a separate air conditioner. ALL information is deemed correct but not guaranteed. Buyer to verify with their own due diligence.

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