What’s Ahead For Mortgage Rates This Week – September 12, 2016

Few economic reports were released last week due to the Labor Day Holiday. The Federal Reserve released its Beige Book Report, which documents anecdotes shared with the Fed by its regional business contacts. A job openings report, weekly jobless claims and Freddie Mac’s survey of mortgage rates was also released.

Fed’s Beige Book: Approaching Election Dampens Business Growth

According to the Federal Reserve’s survey of business contacts within its 12 districts, November’s election is causing business owners to take a “wait and see” position regarding expansion plans. Commercial real estate contacts in several Fed districts cited modest projections for sales and construction for the second half of 2016. The Bank of Canada supported Fed contacts’ view of modest growth; it characterized U.S. business growth as “less certain.”

Analysts review the Beige Book report for indications of how the Fed may adjust its monetary policy including whether or not to raise the target federal funds rate. The Beige Book report did not reveal any compelling evidence for the Fed to raise rates before year-end, but Fed Chair Janet Yellen said in a recent statement that economic conditions were strengthening and favored a rate hike before year-end.

November’s election will likely delay any rate hike until December. Fed policymakers have repeatedly said that a combination of economic trends, current readings and news reports contribute to decisions relating to interest rates and other monetary policy issues.

Job Openings Rise, New Jobless Claims Drop

July job openings rose from June’s reading of 5.60 million openings to 5.90 million openings to hit an all-time high.  New jobless claims fell from 263,000 new claims to 259,000 new claims. The Labor Department also reported that hires increased from 5.17 million to 5.23 million in June. These readings are further indications of strengthening job markets and general economic growth.

Mortgage Rates Lower

Freddie Mac reported lower average mortgage rates last week; the average rate for a 30-year mortgage was two basis points lower at 3.44 percent; the average rate for a 15-year fixed rate mortgage was one basis point lower at 2.76 percent. The average rate for a 5/1 adjustable rate mortgage was two basis points lower at 2.81 percent. Discount points averaged 0.60, 0.50 and 0.40 percent respectively.

What’s Ahead

Next week’s scheduled economic reports include readings on retail sales, national inflation and consumer sentiment.

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35170 N Covelite Way San Tan Valley, AZ 85144

$633,995 - 4Br/3Ba -  for Sale in The Preserve San Tan - Unit 2b, San Tan Valley
Open House
$633,995
4 Beds
2.5 Baths
2,980 SqFt
Status Active
MLS # 6637452
Property Type Single Family Residence
Price Type --
Modern luxury meets elegant design in this stunning quick move-in home. The open-concept kitchen provides connectivity to the main living area with prime access to the outdoor patio. The casual dining area is adjacent to the kitchen and provides a convenient and intimate setting. Create your ideal living space with a generous flex room located on the first floor as well as an upstairs loft. Highlights of this home include two-toned cabinets in the kitchen, beautiful quartz countertops, upgraded Kitchen Aid appliance package, under-cabinet lighting in the kitchen, an electric fireplace and so much more. Explore the possibilities in this mountain view home!

17530 W Sherman Street Goodyear, AZ 85338

$633,995
3 Beds
2.5 Baths
2,730 SqFt
Status Active
MLS # 6689526
Property Type Single Family Residence
Price Type --
Welcome to this stunning Richmond American Julia floor plan nestled in the scenic Canyon Trails community of Goodyear. Boasting a generous 10,000 square foot lot, this residence offers spacious living with breathtaking views. As you enter, you're greeted by a meticulously designed layout featuring three bedrooms, two and a half baths, and a rare three-car garage with additional storage space. The heart of the home is the expansive living area, where an open-concept design creates an inviting atmosphere for relaxation and entertainment. The gourmet kitchen is equipped with modern appliances, ample cabinetry, and a convenient center island, perfect for culinary enthusiasts and gatherings with loved ones. Retreat to the luxurious master suite, complete with a private ensuite bath.

11910 E Amanda Road Gold Canyon, AZ 85118

$633,700 - 3Br/2Ba -  for Sale in Peralta Canyon Parcel 8 2020047905, Gold Canyon
Open House
$633,700
3 Beds
2 Baths
2,109 SqFt
Status Active
MLS # 6670964
Property Type Single Family Residence
Price Type --
2-1 buy down option is available. A MUST SEE Home in Gold Canyon. Photos don't do justice to this Charming 3 bedroom 2 bathroom newer home located in Gold Canyon. Enjoy time on the front patio before the Arizona summer arrives. Inside you will find the 2 additional bedrooms (one with murphy bed) to the right and office to the left. Continuing, the beautiful tile floor leads you into a spacious entertainers kitchen. Kitchen features stainless steel appliances, wall ovens, quartz counter tops, island and dark cabinets. Kitchen opens up to family room which has stunning views. Master bedroom is located off of the family room in the back of the house. Backyard features artificial turf, easy to maintain landscaping and a great space to host!

14450 N Thompson Peak Parkway Scottsdale, AZ 85260

$633,501
2 Beds
2.5 Baths
1,564 SqFt
Status Active
MLS # 6664495
Property Type Townhouse
Price Type --
PRIME OPPORTUNITY IN ASTRAGAL: Rarely available corner unit, ground floor 1564 sq ft townhome w/direct entry oversized TWO CAR GARAGE in gated Astragal. Living Room w/20 ft ceilings w/fireplace & slider to oversized patio, dining area, & kitchen w/breakfast bar. KitchenAid appliances (new refrigerator), laundry (3 yr old W/D), powder bath, & main floor Primary Suite w/large N facing window, Bath has separate jetted tub & shower, dual sinks, separate toilet room, & walk-in closet. 2nd Floor loft w/closet & N facing balcony perfect for home office or 3rd bedroom, plus guest bath, & guest bedroom w/charming Juliet balcony overlooking Living Room. Community pool/spa, BBQs, & convenient to shopping, dining, hiking, & the 101. This will tick all the boxes on your 'Dream Home' list.

18370 W Goldenrod Street Goodyear, AZ 85338

$633,000
3 Beds
2.5 Baths
2,713 SqFt
Status Active
MLS # 6699990
Property Type Single Family Residence
Price Type --
Welcome to your new sanctuary nestled in the heart of the vibrant Master Planned Community of Estrella. Step inside this beautifully updated energy-efficient 3-bedroom, 2.5-bathroom home with an inviting den/office space where modern elegance meets comfortable living. As you enter, you'll be greeted by a stylish grey color palette that sets the tone for the contemporary atmosphere throughout. The primary bedroom is a luxurious retreat, boasting private access to the back patio, complete with a sprawling ensuite featuring double vanities, a deep soaker tub, and an expansive walk-in tiled shower. The secondary bedrooms offer ample space and privacy, thoughtfully separated from the primary suite. The second full bath is a haven of relaxation, showcasing a walk-in tiled shower with sleek finishes. Prepare to be enchanted by the chef's dream kitchen, equipped with a large island, Wolf gas cooktop, stainless hood, granite counters, subway tiled backsplash, wall oven/microwave, and an oversized pantry to fulfill all your culinary desires. Convenience meets functionality with a mudroom strategically located at the garage entrance, providing the perfect spot to unload shoes and bags after a busy day. Outside, the private oversized backyard beckons with a sprawling side yard ideal for a dog run, complemented by artificial turf, a paver seating area, and a soothing hot tub - the ultimate oasis for relaxation and entertainment. With a spacious three-car tandem garage, parking dilemmas are a thing of the past. And when it comes to amenities, Estrella offers a plethora of resort-style options including two residents clubs, pools, fitness centers, a splash park, lakes, hiking/biking trails, and abundant parks - ensuring there's always something for everyone to enjoy. Don't miss this opportunity to embrace luxury living in a community designed for those who appreciate the finer things in life.

17964 W Jojoba Road Goodyear, AZ 85338

$632,900
4 Beds
3 Baths
3,325 SqFt
Status Active
MLS # 6696575
Property Type Single Family Residence
Price Type --
Come & experience its unique charm & comfort this beautiful 4-bedroom home showcases! A 3-car garage, a mature landscape, & a welcoming front porch are just the beginning. Appealing interior boasts plantation shutters, designer paint, laminate flooring, & an inviting living room. Desirable great room is complemented by coffered ceilings & sliding glass doors leading to the back patio. Open-concept kitchen comes complete w/glossy SS appliances, a handy pantry, recessed/pendant lighting, cabinets w/crown moulding, butler's service area, granite counters, & a custom island w/a breakfast bar. Sizable loft and bonus room offer endless possibilities! Open the double doors to find the serene primary retreat w/plush carpet, an ensuite w/two vanities, make-up desk, & a walk-in closet. PLUS! Second main bedroom has a walk-in closet and bathroom perfect for your guests. Generous-sized backyard includes a covered patio. This amazing deal won't disappoint!

3850 E Gold Mountain Avenue San Tan Valley, AZ 85143

$632,886
4 Beds
3.5 Baths
3,146 SqFt
Status Active
MLS # 6675619
Property Type Single Family Residence
Price Type --
Beautiful farmhouse elevation home featuring 4 bedrooms, 3.5 bathrooms, one level, and so much more! This gem, currently under construction, is located in Bella Vista Farms where the amenities are endless and include a community pool, playgrounds, volleyball courts, and basketball courts. The home offers designer features throughout including a GE Profile Appliance package with double ovens and a 36'' gas cooktop, an enlarged kitchen island, Benton Paint White Cabinets, surround sound pre-wire, a den with doors, and a frameless walk-in shower. 6'' x 36'' wood-look tile plank and upgraded carpets can be found throughout the home. Enjoy North/South exposure as well as a spacious 3-car tandem garage.

482 S Soho Lane Chandler, AZ 85225

$632,500
3 Beds
3.5 Baths
2,039 SqFt
Status Active
MLS # 6678580
Property Type Single Family Residence
Price Type --
Welcome to the epitome of luxury living at Parkside Villas in Chandler, Arizona! Step into a world of elegance and comfort with our spacious floor plans boasting generous living areas and luxurious kitchens. With 9 foot ceilings on the main floor, natural light floods in, creating a bright and inviting ambiance perfect for any occasion. Choose from our 3 or 4 bedroom layouts, each featuring 3 ½ baths for optimal convenience. Our gourmet kitchens are the heart of the home, seamlessly opening to the family room, making entertaining a breeze. Indulge in upgraded cabinetry, sleek quartz countertops, and top-of-the-line stainless steel appliances throughout, elevating your culinary experience. Relax and unwind in your own private outdoor patio area, where cozy evenings await. Park with ease in your spacious 2-car garage. Embrace sustainability with energy-saving features like foam insulation, ensuring both comfort and efficiency year-round. Experience the best of community living with beautifully landscaped common areas and a private pickle ball court exclusive to Parkside residents. Enjoy proximity to Chandler's picturesque park steps away and a plethora of dining, nightlife, and shopping options just minutes away. Conveniently located near major freeways and business hubs, Parkside Villas offer unparalleled accessibility without compromising on tranquility and luxury. Welcome home to Parkside Villas, where every moment is crafted with sophistication and style.

1873 E Mcnair Drive Tempe, AZ 85283

$632,000
4 Beds
2.5 Baths
2,138 SqFt
Status Active
MLS # 6663148
Property Type Single Family Residence
Price Type --
Amazing location in Tempe! Welcome home by Oasis Anozira lake subdivision, with community walking path around the nearby lake. This home features 4 bed. , 2.5 baths, Family room opens to the kitchen w/ island & dining area , Formal Living Room & Dining Room w/ Vaulted Ceiling , From Master Bed. you can exit to the beautiful, huge balcony & enjoy the outdoors. The Master bath features double sinks, separate shower, bath tub, toilet room & walking closet. Garage includes built in cabinets, front entrance with tile & lash landscaping, the extended back patio has newer ceiling, neutral tile, the walkway along the house. Enjoy the beautiful landscaped yard with large grassy area. House has new A/C (installed Jan. 2024) and great location, close to major freeway, shopping, dining..

6202 E Mckellips Road Mesa, AZ 85215

$632,000
3 Beds
2 Baths
1,818 SqFt
Status Active
MLS # 6667027
Property Type Single Family Residence
Price Type --
Stunning turn-key detached home located directly on golf course! Very rare Floratina Model in the premier gated community of Tuscany Villas. Resort living at it's finest. Brand new a/c unit, bath cabinets, and pantry installed in 2023. Unit does not share walls with neighbor. Upgraded granite counter tops throughout. Open concept kitchen adjacent to family room w/island, maple cabinets, designer backsplash and stainless appliances. Sliding glass doors to covered back patio for entertaining, outdoor dining, cozy firepit, new artificial turf and relaxing lounge area. Adjacent to wash for side courtyard privacy. Large primary bedroom, ensuite bath and walk in closet. 2 car garage w/built in cabinetry and lots of newly added storage. Community heated pool and spa, workout room & clubhouse!

1830 E Manhatton Drive Tempe, AZ 85282

$632,000 - 4Br/2Ba -  for Sale in Mcclintock Manor, Tempe
Open House
$632,000
4 Beds
2 Baths
2,244 SqFt
Status Active
MLS # 6695790
Property Type Single Family Residence
Price Type --
Welcome to a beautifully home. Walk inside, the striking neutral color paint scheme flowing throughout the home. The new flooring gleams, providing a perfect for your furnishings. In kitchen, the grand island takes center stage, an ideal spot for casual dining. Cooking will be a joy with your all stainless-steel appliances while a sizable walk-in pantry offers abundant space. Adjacent to the kitchen, you will find a cozy by an inviting fireplace. In the primary bathroom, double sinks offer maximum convenience for those busy mornings. Step out back, covered patio, perfect for outdoor relaxation. The fenced backyard offers an excellent space for garden hobbies, and a storage shed ensures enough room for your equipment. Experience the perfect blend of beauty and functionality upgraded home.

9122 W Circle Drive Strawberry, AZ 85544

$632,000
3 Beds
2 Baths
2,027 SqFt
Status Active
MLS # 6703166
Property Type Single Family Residence
Price Type --
Nestled on a secluded 0.40 acre lot, this private home boasts a spacious 2027 sq ft of living space. As you step inside, you are welcomed with a generous great room adorned with cathedral ceilings and a warming gas fireplace, offering a cozy ambiance for gathering or quiet evenings in. The allure of outdoor living is evident with covered back deck overlooking a sprawling yard, providing a perfect setting for outdoor dining, sitting around the fire pit or simply soaking up nature's beauty. Upstairs is a sizable primary bedroom which provides a tranquil sanctuary, vehicle an open loft area offers versatility for various lifestyle needs. This is horse property with two stalls. The 2-car garage has a full attic making for ample storage.

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