What’s Ahead For Mortgage Rates This Week – June 6, 2016

Last week’s housing related news was limited to Construction Spending and Freddie Mac’s mortgage rates survey, but labor reports suggested an economic slowdown may be in the works.

Construction Spending Slips in April, Mortgage Rates Mixed

According to the Commerce Department, overall construction spending slipped in April to -1.80 percent as compared to March’s reading of +1.50 percent and May’s expected reading of +0.70 percent. Residential construction spending was 1.50 percent lower, which doesn’t help ongoing shortages of available single-family homes. Builders have repeatedly cited labor shortages and lack of developed lots as obstacles to building more homes. Year-over-year construction spending was 4.50 percent higher.

Freddie Mac reported higher rates for fixed-rate mortgages while the average rate for a 5/1 adjustable rate mortgage was one basis point lower at 1.87 percent. Rates for a 30 year fixed rate mortgage averaged two basis points higher at 3.66 percent; rates for a 15-year fixed rate mortgages were three basis points higher at 2.92 percent. Average discount points were unchanged for all loan types at 0.50 percent.

Labor Reports Indicate Slowing Jobs Market And Economy

According to the Non-farm Payrolls report for May, U.S. jobs increased at their lowest rate in five years with 38,000 new private and public sector jobs added. Temporary hiring also hit its lowest reading in seven years, which was seen as a negative as temporary jobs often transition to permanent positions.

Analysts said that May’s extremely low reading for jobs created indicates that a revision is likely. This inconsistency was supported by the national unemployment rate of 4.70 percent, but the lower jobless rate was attributed to workers leaving the labor force.

ADP’s May reading for private sector jobs rose to 173,000 jobs against expectations of 165,000 jobs and April’s reading of 268,000. This reading was further evidence that the Non-farm Payrolls report was likely inaccurate.

Last week’s new jobless claims fell to a five-week low of 267,000 as compared to expectations of 279,000 new claims and the prior week’s reading of 268,000 new claims.

What’s Ahead This Week

Economic news scheduled for this week include a speech by Federal Reserve Chair Janet Yellen on Monday; this speech could foreshadow the Fed’s decision to raise or not raise the Fed’s target federal funds rate during its FOMC meeting later this month.

Readings on job openings and consumer sentiment will be released along with weekly reports on mortgage rates and new jobless claims.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

20391 N 53rd Avenue Glendale, AZ 85308

Open House

$549,900

3 Beds

2 Baths

1,589 SqFt

Status Active

MLS # 6779897

Property Type Single Family Residence

Price Type --

Welcome to your oasis nestled in the highly desirable Arrowhead Lakes! This stunning 3-bedroom, 2-bath home with a pool is situated on a premium corner lot. The vaulted ceilings create an airy atmosphere with tile and wood floors throughout the home. The kitchen features granite countertops, a nice size island, tile backsplash and stainless-steel appliances. Spacious primary en-suite has a walk-in closet, dual sinks, separate shower & roman style tub. Perfect for entertaining, the backyard features a beautiful pool with a new pool pump, a waterfall feature and a mountain view! Newer Roof & HVAC, two high-cost updates have been done! This sought after neighborhood is close to everything! Enjoy walks day or night, hiking trails nearby. Don't miss this one, move in before the holidays!

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26006 S Brentwood Drive Sun Lakes, AZ 85248

Open House

$549,900

3 Beds

3 Baths

2,329 SqFt

Status Active

MLS # 6752976

Property Type Single Family Residence

Price Type --

The ultimate golf course property for hosting friends and family! This spacious 3-bed, 3-bath + loft, 2-story home on the 14th green, walking distance to Cottonwood Country Club offers stunning views. Enjoy access to three HOAs, six restaurants/bars, pools, golf, tennis, pickleball, bocce ball, fitness centers, and lively entertainment calendars. Features include a synthetic lawn, screened patio, enclosed yard with view fencing, BBQ area off the kitchen, a 2-car garage, and a separate golf cart garage. With new carpet, appliances, an entertainer's kitchen, and a loft with a built-in desk, Murphy bed, and privacy screen, your guests will feel right at home. Upgraded baths and windows complete this dream home!

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2114 S El Marino -- Mesa, AZ 85202

Open House

$549,900

3 Beds

2 Baths

1,822 SqFt

Status Active

MLS # 6769790

Property Type Single Family Residence

Price Type --

Remodeled home in prime location! New luxury vinyl flooring and baseboards, new carpet*Gormet kitchen with new stainless appliances, quartz countertops, modern wood shelving, recessed lighting, white shaker cabs, pendant lighting, large island with breakfast bar and extra storage, built in microwave all open to a dining/living room perfect for entertaining*Oversized master bedroom w/private exit to backyard, oversized closet*New bathroom vanities in both bathrooms*Cozy wood burning fireplace*Picture windows throughout bringing in natural sunlight*Freshly painted inside and out*New landscaping*Peaceful atrium with private access from the bedrooms and entrance*New fans/fixtures/interior doors*

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16170 W Port Royale Lane Surprise, AZ 85379

$549,850

6 Beds

3.5 Baths

3,251 SqFt

Status Active

MLS # 6783810

Property Type Single Family Residence

Price Type --

Welcome to this beautiful home in Legacy Park boasting 6 bedrooms, 3.5 bathrooms, a loft, and a large backyard with a pool! You will love this well-thought-out layout with a formal dining room, family room, and a spacious kitchen! The primary suite is downstairs with an ensuite featuring a dual sink vanity, a soaking tub, a separate shower, and a walk-in closet. The remaining bedrooms are upstairs along with the loft and 2 bathrooms. Outside you will find a large backyard with a fenced pool, covered patio, and a separate charming courtyard with a private covered patio and access from the kitchen. Additional features include a 2-year-old water heater, and a new pool pump, filtration and cleaner in 2024! Do not miss out on this beautiful home!

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26840 W Sierra Pinta Drive Buckeye, AZ 85396

$549,700

2 Beds

2 Baths

1,858 SqFt

Status Active Under Contract

MLS # 6777554

Property Type Single Family Residence

Price Type --

SO MANY REASONS TO MAKE THIS FURNISHED HOME YOURS! LOCATED ON A PREMIUM GOLF COURSE /LAKEFRONT LOT WITH MOUNTAIN VIEWS, OWNED SOLAR & 2.5 EXT GARAGE! Upon entering this amazing home, you will notice the open concept floor plan w/plantation shutters, designer lighting, & sweeping views! The chef's kitchen boasts upscale appliances and a large granite island with uninterrupted views of the outdoor courtyard, dining area, & family room w/media wall and lots of natural light. Flex room can be used for office, den, hobbies, or guests. Unwind in the owner's suite w/no threshold, tile surround shower, dual sinks and huge walk-in closet, Guest suite w/adjacent bath is perfect for visitors. Enjoy relaxing outdoors, taking in the sweeping views of the golf course, lake & White Tank Mountains.

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27096 W Burnett Road Buckeye, AZ 85396

$549,700

2 Beds

2.5 Baths

2,527 SqFt

Status Active Under Contract

MLS # 6768735

Property Type Single Family Residence

Price Type --

OUTSTANDING PARADA MODEL! The paved entrance leads to a charming courtyard. Enter the large foyer to the spacious open concept floor plan. The oversized great room w/formal dining area and wet bar is an entertainer's delight!! Chefs' kitchen features upgraded cherry cabinets organized walk in pantry, SS appliances, cafe dining, pendant lights, built in office space, and breakfast nook. The owner suite is complete w/garden tub/shower & large walk-in custom closet. Den can be used as an office or for hobbies. Private guests en-suite has walk in closet. Enjoy outdoor living on your fully extended covered patio w/sunshades, tons of custom features including, built in barbecue w/pergola, pony wall w/ bench seating, & fire pit, overlooking the beautiful landscape of your private Backyard!

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17862 W Hedgehog Place Surprise, AZ 85387

$549,500

4 Beds

2.5 Baths

2,379 SqFt

Status Active

MLS # 6696233

Property Type Single Family Residence

Price Type --

*PRICED TO SELL!* Welcome home! Desired to own this beautiful residence in Desert Oasis! Den can easily be CONVERTED TO A BEDROOM! This value offers a 2-car garage, stone accents, and a low-care desert landscape. You'll love the thoughtfully designed interior boasting an open den ideal for an office or study and the perfectly flowing great room complemented by wide sliding glass doors leading to the back patio. Open-concept kitchen displays plenty of cabinetry with crown moulding, built-in appliances, quartz counters, and a center island with a breakfast bar. Discover the impeccable primary retreat showcasing plush carpet in all the right places, an ensuite with dual sinks, and a walk-in closet. With its covered patio, the large backyard is the perfect spot for unwinding after an exhausting day. This one-of-a-kind gem!

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910 W Angus Road San Tan Valley, AZ 85143

$549,500

4 Beds

3 Baths

2,699 SqFt

Status Active

MLS # 6741661

Property Type Single Family Residence

Price Type --

***Seller buydown offered to 4.875%*** This home offers the perfect blend of luxury, comfort, and convenience. Prepare to be amazed by this luxurious and functional home! The spacious den/office is perfect for creating your own retreat or work-from-home space. The chef's kitchen features Bosch stainless steel appliances and a large island that overlooks the Great Room, ideal for entertaining. Enjoy formal gatherings in the elegant dining room. With 4 oversized bedrooms and 3 baths, including a master suite with a platform shower, dual sinks, and a walk-in closet, comfort is guaranteed. A second master/guest suite adds extra luxury. The 12 ft sliding glass doors with custom blinds seamlessly connect indoor and outdoor living. Step into the bac ***Seller buydown offered to 4.875%*** This home offers the perfect blend of luxury, comfort, and convenience. Don't miss out on this incredible opportunity!

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306 N Nevada Way Gilbert, AZ 85233

$549,500

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6760244

Property Type Single Family Residence

Price Type --

What a Great Location! One house away from the Community Park and Backing to McQueen Park and Activity Center. This Single Level Home includes 3 Bedroom Plus a Den/Office and 2 Full Bathrooms. The Vaulted Ceilings and Architectural Arches and Niches really Open Up the Floorplan and make the House Feel Much Bigger. The Kitchen Opens up to the Living Room, has Lots of Counter Space and a Breakfast Bar. The Primary Suite is Split from the other Two Bedrooms and Includes a Vaulted Ceiling, Two Sinks, Walk-in Shower, Roman Tub and Large Walk-in Closet. Upgraded Anderson Sliding Patio Doors. The Backyard Includes a Covered Patio, Open Patio Area and Synthetic Grass. The Garage has Epoxy Floors and Built-in Cabinets.

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2129 E Voltaire Avenue Phoenix, AZ 85022

Open House

$549,000

3 Beds

2.5 Baths

1,590 SqFt

Status Active

MLS # 6772478

Property Type Townhouse

Price Type --

The Agave - A rare combination of Space, Style, Quality, and Value where Design Matters. Be inspired by the warm tones and natural textures of the desert where the Sagebrush and Adobe interior color schemes boldly echo the beauty of The Agave. Modern, Flat-Panel Kitchen Cabinetry in Matte color-ways, Solid-surface, Spa-Inspired Flat-Panel vanity cabinets in natural-wood tone finishes in Bathrooms. Standard LVT flooring installed in the entire home, Quartz Countertops and Tile shower surrounds. Standard Accent painted interior doors and jambs for a bold, effortless design touch. Ceiling fans included as well as EV prewire. This premium Quail Plan showcases an enclosed front patio, oversized 2 car garage, bonus loft space, and second floor deck .

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2126 E Voltaire Avenue Phoenix, AZ 85022

Open House

$549,000

3 Beds

2.5 Baths

1,751 SqFt

Status Active

MLS # 6786069

Property Type Townhouse

Price Type --

The Agave - A rare combination of Space, Style, Quality, and Value where Design Matters. Be inspired by the warm tones and natural textures of the desert where the Sagebrush and Adobe interior color schemes boldly echo the beauty of The Agave. Modern, Flat-Panel Kitchen Cabinetry in Matte color-ways, Solid-surface, Spa-Inspired Flat-Panel vanity cabinets in natural-wood tone finishes in Bathrooms. Standard LVT flooring installed in the entire home, Quartz Countertops and Tile shower surrounds. Standard Accent painted interior doors and jambs for a bold, effortless design touch. Ceiling fans included as well as EV prewire. The Wren showcases a generous backyard and second floor deck to bring the outside in.

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21093 N Willow Road Maricopa, AZ 85138

$549,000

3 Beds

2.5 Baths

2,297 SqFt

Status Active

MLS # 6787689

Property Type Single Family Residence

Price Type --

When I interviewed this family, they said; ''What an elegant gift it is to live in Province. We will miss it.'' They emphasized the lifestyle. What lifestyle are your after? How about; experience the Award-Winning Pinnacle of 55+ living in Arizona at ''Province'' w/ this stunning like new home. Enjoy tranquil water view & gorgeous grounds, this setting is an entertainer's dream. Waterview lot. ''Retire Like You Mean It'' is the motto for Province. Enjoy the fantastic 32,000 sf Town Hall amenities w 24x7 guard gated 50 acres of catch/release lakes, 125 acres of manicured greenbelts. Serious about being active? Walking paths, pickleball, tennis, bocce, 18 hole putting green, cardroom, billiards, library, café M-F breakfast/lunch, lap pool, fitness center, locker room, media center, computer lab, arts/crafts/sewing & library. Town Hall Ballroom has regular dances, tribute shows, concerts & activities. Relax in the BRAND NEW REDONE 2024 Resort outdoor pool, indoor lap pool & hot tub. Always wanted a souped-up golf cart, you're gonna need it! Too many clubs & activities to list. Almost forgot, all that comes w a house. The Gourmet kitchen, truly the heart of this home, stylish & plush grey cabinetry (pull-out shelves), luxurious granite countertops, SS appliances & gas cooktop, a tasteful tile backsplash, pendant lighting over the island/breakfast bar, tons of storage. 2 HUGE pantries. Elegant coffered 10' ceiling & 6 baseboards, recessed lighting, w gorgeous, white plantation shutters, sun shades, security screen door crafts a welcoming ambiance. Barnwood look LVP throughout. Spectacular Energy Efficient home. Surround sound in & out. All bedrooms have walk-in closets. Step outside through your oversized sliding glass door (built in doggie door) to your oversized wrap around covered patio w room for full outdoor living/dining w sink, frig & BBQ. Drop sun shade keeps you cool. Fenced to keep doggie in. Low maintenance yard. The spacious owner's bath has a large vanity with dual sinks and walk in/sit in shower. Water softener conveys, Close to John Wayne & minutes away from several large employers, casinos, 2 golf courses, movie theaters, restaurants, shopping, healthcare & I-10. Hurry, Don't let this opportunity pass you by!

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