What’s Ahead For Mortgage Rates This Week – February 6, 2017

Last week’s economic news included several good signs for U.S. Labor Markets with higher than expected readings for private and public sector job creation. The Federal Reserve announced its decision not to raise the target federal funds range, and inflation rose. Mortgage rates held steady and pending home sales rose.

Private and Public Sector Jobs Post Unexpected Gains

ADP, which tracks private-sector job growth, showed a gain of 246,000 jobs in January against expectations of 168,000 new jobs and December’s reading of 151,000 private sector jobs created. Analysts said 208,000 of jobs added were service-related jobs. January’s Non-Farm Payrolls, which is issued by the Labor Department and includes private and public sector jobs, also posted higher than expected job gains with 227,000 new jobs in January as compared to 197,000 new jobs expected and December’s reading of 157,000 new jobs. Retail, construction, financial and restaurant industries led job growth. The jump in construction hiring could indicate that home builders will expand construction in an effort to ease short inventories of homes for sale.

The national unemployment rate rose to 4.70 percent in January and matched analysts’ expectations based on December’s reading of 4.60 percent. New jobless claims were lower than expected with a reading of 246,000 new claims against expectations of 254,000 new claims and the prior week’s reading of 260,000 initial jobless claims.

Mortgage Rates Little Changed; Pending Home Sales Up

Freddie Mac reported little change in mortgage rates last week. Interest rates for 30-year fixed rate mortgages averaged 4.19 percent and were unchanged from the prior week. Rates for 15-year fixed rate mortgages rose by one basis point to 3.41 percent and the average rate for a 5/1 adjustable rate mortgage rose three basis points to 3.23 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

In related news, the Federal Reserve’s Federal Open Market Committee decided not to rate the Fed’s target rate that is currently 0.50 to 0.75 percent. Fed benchmarks for the economy include an unemployment rate of 5.00 percent or lower, but the annual growth inflation benchmark of 2.00 percent has not been met. January’s inflation rate rose by 0.10 percent above December’s reading of 0.0 percent.

Pending home sales increased in January with an increase of 1.60 percent; this exceeded December’s negative reading of -2.50 percent in December. Analysts said that the growth in pending home sales, which represents sales under contract that have not closed, reflects ongoing high demand for homes. Pending sales also suggest future volume for completed sales and mortgages.

Consumer confidence lagged in January to an index reading of 111.80 as compared to an expected reading of 112.90 and December’s reading of 113.30. December’s reading was the highest in 15 years. Analysts cited post-election uncertainty as contributing to consumer concerns.

Whats Ahead

This week’s scheduled economic reports include weekly releases on mortgage rates and new jobless claims along with readings on job openings and consumer sentiment.

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3819 N Springfield Street Buckeye, AZ 85396

$565,000
3 Beds
2 Baths
2,036 SqFt
Status Active
MLS # 6764983
Property Type Single Family Residence
Price Type --
LOCATED IN HIGHLY DESIRABLE VERRADO, PRIDE OF OWNERSHIP, PARKING FOR 6 CARS! This Pulte Magnolia model features a cozy front porch, high-end turf in both front and backyard, expansive great room that opens to the gourmet kitchen w/island, breakfast bar, eat-in kitchen, formal dining room, staggered cabinets, Corian countertops, granite stone sink, wall oven, cooktop, black appliances, and a large pantry, the split master floor plan includes an oversized master suite, his/her closets, raised vanities w/double sinks, separate tub/shower, 2 large additional bedrooms, and full bath. The backyard boast of a covered patio, extended custom pavers designed for a park-like setting, built-in pergola makes this the perfect place for entertaining. The 2car garage includes high-end epoxy flooring, storage cabinets, an extended driveway with room to park 4 additional vehicles.

272 N 167th Lane Goodyear, AZ 85338

$565,000
4 Beds
3 Baths
2,735 SqFt
Status Active
MLS # 6767667
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Canyon Trails! Nestled in a peaceful cul-de-sac, this 4-bedroom, 3-bathroom residence is loaded with premium upgrades. Step outside to your own slice of paradise, featuring a splash pad for endless summer fun and an outdoor kitchen perfect for al fresco dining and entertaining family and friends. The area directly behind your back fence boasts lush greenery, ensuring added privacy for your backyard. Enjoy the convenience of a full bedroom and bathroom on the main level, ideal for guests or multi-generational living. The extended garage provides ample space for your vehicles, while the built-in shelving offers extra storage and a dedicated workspace. Upstairs, the primary bedroom features a luxurious walk-in shower and two separate walk-in closets.

10521 E Hawk Avenue Mesa, AZ 85212

$565,000
3 Beds
2.5 Baths
2,104 SqFt
Status Active
MLS # 6767313
Property Type Single Family Residence
Price Type --
Beautiful residence in the esteemed Eastmark Community is the one! Lovely curb appeal with a well-maintained front yard and a 3-car garage. Be welcomed by an inviting foyer leading to the spacious living room enhanced with tall ceilings, pre-wired surround sound, and sleek wood-look tile flooring. The chef's kitchen is fully equipped with an electric cooktop, a wall oven, granite counters, a walk-in pantry, ample white cabinetry with crown molding, and an island with a breakfast bar. The primary retreat has plush carpeting, an immaculate ensuite, and a walk-in closet. Secondary bedrooms enjoy a Jack & Jill bathroom! The home's elegance extends outdoors to the tranquil backyard with a covered patio and pavers, great for relaxation. Make this gem yours today!

1749 Silver Spur Circle Clarkdale, AZ 86324

$565,000
2 Beds
2 Baths
1,715 SqFt
Status Active
MLS # 6767718
Property Type Single Family Residence
Price Type --
Discover your dream home with unparalleled charm and comfort! This property offers a unique blend of elegance and privacy, perfectly situated on an expansive 1/2 acre lot for ultimate seclusion with the option for an additional 1/2 acre. Imagine cozy evenings by the fireplace, and waking up every day to a magnificent view of the Red Rocks that never fails to inspire. One of this property's unique highlight is an exquisite imported, hand-peeled and stained log ramada with elegant pavers and a six-person hot tub, perfect for outdoor relaxation or entertaining guests. Whether you're seeking tranquility or a place to entertain, this home provides the perfect backdrop for all your aspirations. Step through a charming front door courtyard, adorned with a decorative steel gate, setting the scene for a warm welcome. Beyond the front, discover a fully gated fenced backyard offering privacy. Embrace the sophistication of 9 ft ceilings and charming bullnose corners throughout plus the elegance of ceramic flooring, with cozy carpeted bedrooms for ultimate comfort. Gather around the stunning Southwestern-style glass-enclosed propane fireplace, complete with a mantel, hearth, and beautifully crafted faux logs that evoke a cozy atmosphere. Adjacent to the hearth, a full-length sitting bench offers a perfect spot to relax and enjoy the warmth. This exquisite property boasts a kitchen that is a culinary enthusiast's delight, featuring ample counter space, an abundance of cabinets, and a convenient breakfast bar. A spacious pantry complements the setup, ensuring you have all the storage you need. Enjoy leisurely breakfasts in the adjoining breakfast nook, a perfect spot for morning routines. The heart of the home shines with tubular skylights in the kitchen, laundry, and oversized tiled walk-in shower. Split bedroom plan that promises both privacy and comfort. Enjoy the seamless indoor-outdoor flow, with glass patio doors leading off both the dining room and master bedroom onto spacious patios. Peace of mind with newer appliances, including a dishwasher, hot water heater, washer, and dryer, ensuring modern comfort and convenience. The property boasts a fully functional sprinkler system equipped with new valves, a system water shut off, and a sprinkler control panel for easy plant maintenance. Additionally, enjoy peace of mind with new garage door springs enhancing safety and reliability. A custom designed elevated lot to not only enhance the views but to accommodate runoff and prevent erosion. This unique home is surrounded by hand-placed native rock lining the front and back ditches, offering a distinct and harmonious landscape design. The rip-rapped berms elegantly frame the remaining sides, enhancing both functionality and aesthetics. Additionally, the property features attractive rock-lined drainage swails, providing efficient water management while adding to the overall charm. This property is a perfect blend of thoughtful design and natural allure. Thoughtfully designed exteriors featuring a delightful wraparound sidewalk leading to one porch, complemented by hand-placed steppingstones guiding you to the opposite porch. This property boasts an oversized 2-car garage featuring pull-down concealed wooden steps for full attic access, offering ample storage and convenience. The approach to this home is nothing short of impressive, featuring a commercial-grade compacted gravel path that seamlessly transitions into a wide concrete driveway.

4925 W Buffalo Street Chandler, AZ 85226

$565,000
4 Beds
2 Baths
1,802 SqFt
Status Active
MLS # 6770215
Property Type Single Family Residence
Price Type --
You'll love to own this incredible 4-bedroom, 2 bath property, now for sale! Charming curb appeal with a low-care front yard and a 2-car garage. The interior features spacious formal living areas perfect for hosting and entertaining. Vaulted ceilings, soothing paint, kitchen is complete with SS appliances, ample counter space, Island and handy pantry. Primary bedroom features a full ensuite, separate tub and shower and a walk-in closet. The backyard invites you to relax and have fun with its covered patio and a fenced pool. Roof is 4 years old and AC unit only 2 years old. Awesome location! Less than a mile away from Intel. Surrounded by shopping, dinning and entertaining. No HOA on this gem! Hurry, this home won't last long

112 N 3rd Street Buckeye, AZ 85326

$565,000
5 Beds
6.5 Baths
5,264 SqFt
Status Active
MLS # 6769706
Property Type Single Family Residence
Price Type --
Check out 1 of Historical Downtown Buckeye building that was built in 1927. Flood irrigation is available on this 15000 sq ft lot. This property can be residential or commercial. it has 5 bed, 6.5 baths . Roof had new sealant , all new pool equipment, and resurfacing. new primary shower, new flooring in dining area, remodeled front half bath. new hot water heater. 2 car garage plus 8 assigned parking spaces. Basement has bedroom and bath plus living area. Green house and a shed. Shared parking with bank,verify all info.

2258 E Soft Wind Drive Phoenix, AZ 85024

$565,000
3 Beds
2 Baths
1,518 SqFt
Status Active Under Contract
MLS # 6744749
Property Type Single Family Residence
Price Type --
Welcome to this charming North Phoenix home, offering 1,518 square feet of comfortable living space. This three-bedroom, 1.75-bath residence features vaulted ceilings and an open floor plan that creates a spacious and inviting atmosphere. The updated kitchen is a highlight, boasting elegant granite countertops and modern amenities, while luxury vinyl flooring flows throughout the home. Situated on a large corner lot, this property provides stunning mountain views and ample outdoor space. Perfectly located near hiking trails, mountain biking paths, and the vibrant communities of Cave Creek and Desert Ridge, this home offers the ideal blend of tranquility and convenience. Don't miss out on this opportunity to enjoy the best of North Phoenix living!

3775 Goldmine Canyon Way Wickenburg, AZ 85390

$565,000
2 Beds
2.5 Baths
1,825 SqFt
Status Active Under Contract
MLS # 6761771
Property Type Single Family Residence
Price Type --
Brand NEW Flooring in Kitchen, Great Rm, Dining Rm and Laundry!! Spectacular Mtns views in this highly upgraded 2 Bed/2.5 bath + DEN home. From the extended 2 car garage to the extended back paver patio this home has all the upgrades. Kitchen has upgraded Quartz Counters, electric cooktop, wall oven, and large center island. Surround sound in the great room, as well as a 15' sliding glass door. Dining room has custom pendant light and sliding glass door leading to side patio area that connects to built-in BBQ area and back yard. Primary Suite features dual sinks, walk-in closet, full tile shower and stunning mountian views. Guest Ensuite has dual sinks and spacious shower enclosure. This home comes fully furnished.

1547 Calle Ventana -- Sierra Vista, AZ 85635

$565,000
4 Beds
2 Baths
2,512 SqFt
Status Active Under Contract
MLS # 6767020
Property Type Single Family Residence
Price Type --
METICULOUSLY MAINTAINED HOME w/ PRIVATE POOL, MOUNTAIN VIEWS, ON A LARGE LOT w/ RV PARKING!!! This beautiful-2,512 sqft, 4 bedroom, 2 Bath 3-car garage-home has everything you need and want in your new home! IDEAL LOCATION CLOSE TO FT HUACHUCA IN DESIRABLE LAS HACIENDAS NEIGHBORHOOD • WONDERFUL OPEN LAYOUT w/ HIGH VAULTED CEILINGS • CUSTOM FIREPLACE • UPGRADED KITCHEN w/ BEAUTIFUL GRANITE, HIGH-END APPLIANCES AND CABINETS w/ PULL OUTS • UPGRADED ANDERSON WINDOWS • OUTDOOR KITCHEN • PARK-LIKE LANDSCAPING w/ ARTIFICIAL GRASS • IN-GROUND POOL • BUILT-IN FIREPIT and MUCH MORE!!

672 N David Drive Chandler, AZ 85226

$565,000
3 Beds
2 Baths
1,849 SqFt
Status Active Under Contract
MLS # 6773228
Property Type Single Family Residence
Price Type --
This charming single-story home in West Chandler features 3 spacious bedrooms, high ceilings & an inviting open floor plan - Fresh interior paint & LVP flooring installed summer 2024! The large kitchen offers ample counter/cabinet space, perfect for all your storage & entertaining needs. A generous bonus room near the laundry could be used as office space, craft room, workout space, or anything else you desire & separate storage area w/ cabinets in garage too! Step outside to a large private backyard with a stunning pool & large covered patio area, ideal for entertaining or relaxation. Neighborhood park & conveniently located minutes from Chandler Fashion Center & other great shopping/restaurants, plus easy access to multiple highways - this home is move-in ready & in a prime location!

3353 N Snead Drive Goodyear, AZ 85395

$565,000
2 Beds
2 Baths
1,914 SqFt
Status Active
MLS # 6773415
Property Type Single Family Residence
Price Type --
This immaculate home features a coveted spacious Golf Course lot, with a sonoran desert style landscape, Situated in a micro-neighborhood in Eagles Nest that shows pride of ownership. Newly remodeled kitchen, laundry room, bathrooms, New Windows, and roll-out shelves, Beautiful natural light flows inside throughout the home. Classic white cabinetry and quartz counters create a crisp modern style. The facade exterior features Stone trim and stamped concrete driveway. Enjoy a restful ambiance for backyard entertaining complete with built-in BBQ, covered and extended patio spaces and open views of Golf Course and Mountains. Don't miss seeing this exquisite home with all its creature comforts. Select furniture is available via separate Bill of Sale. Ring Doorbell does not con

12825 S 209th Lane Buckeye, AZ 85326

$565,000 - 4Br/2Ba -  for Sale in Rainbow Valley, Buckeye
New
$565,000
4 Beds
2 Baths
1,983 SqFt
Status Active
MLS # 6778113
Property Type Single Family Residence
Price Type --
Welcome home to this fabulous 4-bedroom property showcasing gorgeous mountain views! Be welcomed by the charming front yard featuring paver pathways, lovely landscaping, basketball court, & 3-car side garage. The enchanting interior boasts vaulted ceilings, tile flooring, & recessed lighting throughout. The Spacious great room enjoys large windows, backyard access, &bay windows in the dining area. The eat-in kitchen comes with delightful granite counters, built-in appliances, breakfast bar, center island, plenty of hardwood cabinets w/crown mouldings. Double doors open to the main retreat; it is complete w/backyard access, soft carpet, barn door, & an ensuite w/dual sinks, separate shower & tub, & a walk-in closet. The vast backyard enjoys a relaxing covered patio. Don't miss it!

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