What’s Ahead For Mortgage Rates This Week – December 26, 2016

Last week’s economic news included readings on consumer spending, core inflation new home sales and regularly scheduled readings on mortgage rates and new jobless claims.

Consumer Spending Dips in November

Commerce Department reports on consumer spending in November indicated that consumer spending was lower in November with 0.20 percent growth as compared to October’s reading of 0.40 percent growth. November’s reading for core inflation, which excludes volatile food and energy sectors, was flat as compared to expectations of 0.10 percent growth and October’s reading of 0.10 percent growth.

New Jobless Claims Rise to 6Month High

New jobless claims jumped to 275,000 last week as compared to an expected reading of 258,000 new claims and the prior week’s reading of 254,000 new claims. New claims typically rise during the holiday season due to school and other workplace closures.

There was good news as new jobless claims remained below the benchmark of 300,000 new claims for 94 consecutive weeks. This streak of new claims below 300,000 new claims is the longest since 1970. Increasing numbers of “contingent” workers contributed to volatility in employment; The Rand Corporation reported that 10.10 percent of the workforce was contingent workers in 2005; the percentage of contingent workers increased to 15.80 percent of the U.S. workforce in 2015.

Mortgage Rates, New Home Sales Rise

Freddie Mac reported a jump in mortgage rates last week; the average rate for a 30-year fixed rate mortgage was 14 basis points higher at 4.30 percent. The average rate for a 15-year fixed rate mortgage was 15 basis points higher at 3.52 percent; the average rate for a 5/1 adjustable rate mortgage rose 13 basis points to 3.32 percent. Analysts said that the 10-year Treasury rate rose 10 basis points in response to the Fed raising its target funds rate. New home sales gained in November with a seasonally adjusted annualized reading of 582,000 sales as compared to 285,000 expected sales and October’s annual rate of 563,000 sales of new homes. This was the second highest reading for new home sales since early 2008. Builders will be watching mortgage rates and new home sales in the New Year to determine how rising mortgage rates will impact new home sales.

Whats Ahead

Next week’s scheduled economic news includes Case-Shiller Home Price Index reports, pending home sales and weekly readings on mortgage rates and new jobless claims. U.S. Financial markets are closed today in observance of the Christmas holiday.

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1548 W Milagro Avenue Mesa, AZ 85202

$645,000
4 Beds
2.5 Baths
2,485 SqFt
Status Active
MLS # 6779351
Property Type Single Family Residence
Price Type --
Welcome to Dobson Ranch! Milagro Ave tees up a 4-bedroom, 2.5-bath home with golf course view. The courtyard floorplan allows natural light and space for entertaining. Enjoy Dobson Ranch's multiple swimming pools, pickleball courts, tennis courts, basketball and other sport courts, recreation center, and community events throughout the year. Soak in the beautiful Arizona sunsets and fairway views from your own backyard.

4446 W Hower Road Phoenix, AZ 85086

$645,000 - 6Br/3Ba -  for Sale in Anthem West Unit 1, Phoenix
New
$645,000
6 Beds
3 Baths
2,821 SqFt
Status Active
MLS # 6788102
Property Type Single Family Residence
Price Type --
Gorgeous shabby chic farmhouse fabulous with six bedrooms and three full bathrooms! One bedroom with walk-in closet and bathroom downstairs for multi generational living. Relax in your private backyard oasis with a sparkling blue pool, covered patio, easy care synthetic grass, with an extended brick paver patio. Beautifully adorned with new wood like ceramic tile, six inch baseboards, decorative niches, and picture windows with natural light streaming through. Bright open center family hub kitchen features stainless appliances, quartz counters, an abundance of white cabinets, and pantry. The primary suite includes a sitting area, walk in closet & a relaxing spa like bath. Convenient to shopping and dining! Amazing Anthem amenities: 16 acre park, gym, lap pool, waterslides, pickleball... catch-release lake, tennis, baseball, basketball and so much more!

28210 N Crook Court Rio Verde, AZ 85263

$645,000
2 Beds
2 Baths
1,543 SqFt
Status Active
MLS # 6618358
Property Type Single Family Residence
Price Type --
This delightful Desert Retreat entices from arrival with the oversized cul-de-sac homesite. The thoughtfully designed one-level contemporary floor plan emits an abundance of glass that bathes the space in natural light while seamlessly blending indoor and outdoor living. The resort-like back yard is a private oasis, featuring a sleek linear pool, contemporary stacked stone water features and a harmonious mix of desert landscape, artificial turf and citrus trees. The heart-of-the-home is a designer kitchen combining style with functionality. A spacious island with bar seating invites both casual meals and lively gatherings, while the oversized walk-in pantry ensures ample storage space. The attention to detail is evident in every corner enhancing the overall aesthetic. The private primary suite is a sanctuary of comfort, boasting sitting space and a graciously proportioned spa-like bath with generous walk-in closet. The well-appointed guest bedroom and bath are thoughtfully separated from the primary suite, providing privacy and convenience for both residents and visitors. Beyond the allure of the home itself, the Trilogy Verde River Golf and Social Club adds another layer of luxury to the lifestyle. Enjoy breathtaking views of the adjacent Tonto National Forest with panoramic vistas of the Mazatzal Mountains and the iconic Four Peaks. Whether indulging in golf, tennis, pickleball, or unwinding at the spa and fitness center, this community offers a diverse range of amenities. Dining and events further enrich the social fabric, making every day an opportunity to experience the best in contemporary living. Welcome to a home where modern elegance meets Arizona's stunning natural beauty.

4106 E Lavender Lane Phoenix, AZ 85044

$645,000
4 Beds
2.5 Baths
2,418 SqFt
Status Active
MLS # 6697243
Property Type Single Family Residence
Price Type --
Beautiful home with new master bathroom luxury vinyl flooring just installed . New inside paint 2024. 4 bedroom, 2.5 bath plus a den. 18 inch tile. Living and family rooms with a separate formal dining area. Kitchen with raised-panel cabinetry opens up to the family room and a brick fireplace. Large laundry room with cabinets and pantry. Vaulted ceilings, upgraded light fixtures and ceiling fans throughout. Large secondary bedrooms. Wired for security system. Garage has cabinets and work bench plus pull down attic stairs with fully floored attic for more storage. Huge cul-de-sac lot with synthetic turf, pavers, ramada sitting area, big covered patio and RV gate. Great Mountain Park Ranch location with parks and 3 community pools - one within walking distance!

17227 W Middlebury Street Surprise, AZ 85388

$645,000
2 Beds
2.5 Baths
2,001 SqFt
Status Active
MLS # 6669966
Property Type Single Family Residence
Price Type --
Brand new home! The Potomac's inviting covered entry and foyer reveal a spacious office, expansive great room (with 20 ft MULTI-PANEL SLIDING STACKING DOOR) and casual dining area, and the desirable covered patio beyond. The well-designed kitchen is equipped with a large center island with waterfall edge, breakfast bar, plenty of counter and cabinet space, and huge walk-in pantry. The serene primary bedroom suite is highlighted by a sizable walk-in closet and spa-like primary bath with dual-sink vanity, large luxe glass-enclosed shower, linen storage, and private water closet. The sizable 2nd bedroom features an ample closet and private full bath. Or buy as a rental (the Sterling Grove Grove Golf & Country Club rental market is HOT right now). House is 100% virtually landscaped/staged.

1384 E Morelos Street Chandler, AZ 85225

$645,000
3 Beds
3 Baths
2,143 SqFt
Status Active
MLS # 6771830
Property Type Single Family Residence
Price Type --
Gorgeous remodel and SELLER will pay $4,500 towards buyers closing costs with acceptable offer. Ideal for multi-generational family, This RARE floor plan with 3 bedrooms, PLUS DEN, and 3 full bathrooms. ''MOM in law/GEN X'' suite has its own living room! FLOOR PLAN plus LOCATION plus TURN KEY means show today! Exquisite remodel with designer kitchen, open floor plan, all new flooring, new granite counter tops, new stainless steel kitchen appliances, new dual pane windows, new neutral interior paint, and new 5 inch baseboards. New bathroom cabinet, counter top and fixtures in primary bedroom. New roof underlayment includes 3 year warranty, and updated irrigation system. Quiet private backyard oasis with single story neighbors will delight. Lovingly cared for for 23 years. Close to schools, 202 freeway and only minutes from the Chandler Fashion Center and easy to show. We welcome you to 1384 E. Morelos Street!

13198 W Crestvale Drive Peoria, AZ 85383

$645,000
4 Beds
3 Baths
2,222 SqFt
Status Active
MLS # 6682953
Property Type Single Family Residence
Price Type --
HUGE PRICE REDUCTION! ATTACHED PRIVATE GUEST SUITE! This space could also be used as a tucked away kids space. With 4 beds, 3 baths, & a 2-car garage with storage, this gem offers comfort & convenience. A desirable open layout enhanced with tall ceilings, an accented wall, a trending palette, wood-plank tile flooring, & sliding glass doors, merging the indoor with the outdoor poolside living. The gourmet kitchen is a homemaker's dream, featuring granite counters, recessed fixtures, a walk-in pantry, ample wood cabinetry with crown molding, an island with a breakfast bar, & SS appliances, which includes a gas cooktop & a wall oven. Retreat to the carpeted main suite, highlighting a pristine private bathroom with dual sinks, a step-in glass shower, & a walk-in close The sizable guest's quarter provides a living room, a kitchenette, & a bathroom. Have fun in the large backyard, complete with a covered patio, artificial turf, pavers, an outdoor wooden swing, & a crystal blue pool. Move-in ready!

18419 W Elwood Street Goodyear, AZ 85338

$645,000
5 Beds
3.5 Baths
3,660 SqFt
Status Active
MLS # 6736532
Property Type Single Family Residence
Price Type --
Like New Taylor Morrison Home w Custom Pool! Pride of Ownership! 5-Bedroom Smart Home with Resort-Style Backyard Oasis. This 5-bedroom, 3.5-bathroom residence offers the perfect blend of luxury, comfort, and modern convenience. With a spacious layout of 3660 Sq Ft and top-of-the-line features, this home is designed to cater to all your needs. Enjoy year-round swimming with a heated AND cooled Pebble Tec custom saltwater pool, complete with a cascading water feature for a resort-like feel. The home is the perfect setup if you work from home~ With cat 5 wiring throughout. Take a break during lunch and dip the refreshing pool! The roomy backyard that features an added extended patio for ample shade and a grassy astro turf play area for children or pets. Perfect for entertaining family and friends year-round This modern home offers Energy Efficiency with Solar panels that keep your home cool during the hot Arizona summers while greatly reducing energy costs. With Smart Home Technology that includes convenience to control solar panels, thermostat, pool, lights, oven, refrigerator, and security system with cameras with ease using integrated apps. A special feature includes a convenient central vacuum system on both levels. The gourmet style kitchen is upgraded with rich maple/alder cabinets with soft-close drawers, roll outs, light rail, crown molding, granite countertops, a large kitchen island, and stainless-steel appliances including a café French door refrigerator and gas stove for the chef in the family. Spacious living areas include a formal living room, formal dining and family room. A large upstairs loft, perfect for a children's play area, hobby space, work out area or office. The oversized master suite features French doors leading to a private patio with mountain views and beautiful Arizona sunsets. Relax in the master ensuite with a walk-in shower, soaking tub, dual sinks, private toilet room, and an expansive master closet. Additional features include paved cobblestone driveway and front porch, double RV gate, 4-car garage, complete R/O system, soft water system, upgraded maple/alder stair rails with dramatic entry, faux wood window treatments, utility sink & cabinets in the laundry room and additional half bath near family room. Community perks in Las Brisas include open grassy parks, ramadas, basketball courts, volleyball courts, and many play structures and grassy open areas. Conveniently located near schools including La Brisas Academy. I10 Freeway and Goodyear Ballpark plus eateries close by! Nearby Estrella Mountain Regional Park, with 20,000 acres of pristine desert, is nearby with mountains and a large wetland. Many amenities are available to visitors, including baseball fields, the only grass picnic area (65-acres) in the Maricopa County Park System, a golf course, fishing from the Gila River, and over 33 miles of trails for hiking, mountain biking, and horseback riding. Don't let this one slip by! Move in ready with all the bells & whistles included!

931 N Senate Street Chandler, AZ 85225

$645,000
4 Beds
2 Baths
2,340 SqFt
Status Active
MLS # 6730503
Property Type Single Family Residence
Price Type --
BEAUTIFUL CHANDLER CUL-DE-SAC! Quiet neighborhood - close to parks and schools. This lovely 4-bedroom, 2-bathroom residence boasts a 3-car garage, huge lot, fenced pool, and lots of room to entertain. Enjoy the open and bright living areas with new upgraded back doors, plantation shutters, skylights and custom security iron work on front door and garage windows. Newer AC and roof ensure the big items are taken care of for you. The large primary bedroom includes a fabulous walk-in closet and separate exit to the backyard. The attached bathroom includes a soaking tub, separate shower, and private toilet. In the backyard you'll love the private fenced pool surrounded by gorgeous tile work, grass and fruit trees. Great space with plenty of room to entertain friends and family! Quiet neighborhood located close to food and shopping - what more could you ask for?

5100 E Rancho Paloma Drive Unit 2059 Cave Creek, AZ 85331

$645,000
2 Beds
2 Baths
1,990 SqFt
Status Active
MLS # 6749719
Property Type Townhouse
Price Type --
VIEWS, VIEWS, VIEWS! Discover the best location for this end-unit condo in a beautiful newer and spacious gated community in Cave Creek. This residence offers generous square footage, featuring 2 bedrooms +an open den, and bright, open floor plan freshly painted & move-in ready! Meticulously maintained, home showcases modern contemporary design with neutral finishes, quartz countertops, 42'' cabinets, and a lg kitchen island. Refrigerator, washer, and dryer are included. The Primary Bedroom offers breathtaking views & includes an updated walk-in shower in the Primary Bathroom. This condo is Energy Star certified, equipped with Energy Star appliances, Low-E windows, & impressive energy efficiency rating from 2018. Spectacular views from the 14' sliding door that opens to large balcon

16197 W Berkeley Road Goodyear, AZ 85395

$645,000
4 Beds
2.5 Baths
2,677 SqFt
Status Active
MLS # 6757161
Property Type Single Family Residence
Price Type --
New Listing Alert: The Unicorn of Goodyear! Welcome to 16197 W. Berkeley Road, a rare and remarkable find in one of Goodyear's most desirable locations! This home stands out from the rest—combining charm, beauty, and all the modern features you've been searching for. Prime Location: Situated in the heart of Goodyear, this home is just minutes from brand-new restaurants, shopping, and the highly anticipated Goodyear Civic Center. It's more than just a home—it's a gateway to a vibrant lifestyle! Inside the Home: -4 spacious bedrooms that provide plenty of room for everyone. -2.5 bathrooms, beautifully maintained and designed with functionality in mind. -Chef's kitchen with double ovens, granite countertops, and ample storage—a central hub perfect for entertaining, and enjoying time with loved ones. -The open-concept living space offers an inviting flow from the kitchen to the living areas, ideal for large gatherings or cozy family nights. -A versatile dining room that can easily transform into a home office or playroom to suit your personal needs. Backyard Retreat: Step outside and unwind in your private outdoor oasis: -Brand-new turf for low-maintenance landscaping. -A sparkling pool, perfect for cooling off on hot summer days. -Elegant travertine pavers, ideal for outdoor dining or lounging, creating a resort-style vibe in your own backyard. This home offers a rare combination of location, design, and outdoor living. Opportunities like this don't come along often. Don't miss out on this unicorn!

32120 N 167th Avenue Surprise, AZ 85387

$645,000
4 Beds
2.5 Baths
2,433 SqFt
Status Active
MLS # 6754547
Property Type Single Family Residence
Price Type --
**TRANQUILITY IN THE DESERT** This home boasts 4 bedrooms, 2.5 baths and a split floorplan. A roomy master suite with a luxurious bathroom attached. Large walk-in shower with separate soaking bathtub. Features a spacious walk-in closet with walkout access to the back patio. The three additional bedrooms are generously sized, all with large walk-in closets. You will find an abundance of storage, with sizable linen and hall closets, a large laundry room, and a walk-in pantry. The kitchen, with its granite countertops, is perfect for entertaining, complete with a breakfast bar. A 2.5 car garage provides enough space for your vehicles. Big lot has plenty of room for storage of your toys or RV. Blank canvas out back is ready for your design! Enjoy HOA-free living with beautiful desert views!

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