What’s Ahead For Mortgage Rates This Week – January 17, 2017

Last week’s economic reports included readings on job openings, retail sales and consumer sentiment in addition to weekly reports on new jobless claims and Freddie Mac’s survey of mortgage rates.

Job Openings Hold Steady in November; Quits and Hires Increase

According to the Labor Department, job openings held steady with a reading of 5.50 million openings in November, which matched October’s reading. Hires and quits showed more activity, which analysts deemed a healthy sign for the economy. Workers typically hold on to their current jobs in times of economic uncertainty, while they may be more comfortable with changing jobs in a strong economy. Increased “churn” in terms of quits and hires suggests that workers are gaining confidence in economic conditions and are more willing to change jobs. There were 1.3 unemployed workers for each job opening, which was lower than October’s reading of 1.4 unemployed workers for each job opening.

Retail Sales Higher in December

Retail sales grew by 0.60 percent in December, although analysts had expected o.80 percent growth. November’s reading showed 0.20 percent growth. Retail sales not including the automotive sector grew by 0.20 percent. Analysts had expected a reading of 0.50 percent based on November’s reading of 0.30 percent growth. Year-end promotions and incentives offered by auto dealers likely contributed to December’s increase in retail sales.

Mortgage Rates, Jobless Claims Fall

Freddie Mac reported lower mortgage rates last week; the average rate for a 30-year fixed rate mortgage fell by eight basis points to 4.12 percent. 15-year fixed mortgage rates averaged seven basis points lower at 3.37 percent. Rates for 5/1 adjustable rate mortgages were 10 basis points lower at an average of 3.23 percent. Discount points averaged   0.50 percent for all three mortgage types.

New jobless claims were lower than expected last week with a reading of 247,000 new jobless claims. 258,000 new claims were expected based on the prior week’s reading of 237,000 new claims filed. New jobless claims were lower than 300,000 new claims for the 97^th consecutive week. The rise in new claims last week was attributed to delays in filing for benefits between Christmas and New Year holidays.

Consumer sentiment dipped in January to an index reading of 98.1 as compared to December’s reading of 98.2 and the expected reading of 98.8.

What‘s Ahead

This week’s scheduled economic releases include the National Association of Home Builders Housing Market Index. Commerce Department readings on housing starts and building permits will be released. Consumer Price Index readings are scheduled along with weekly reports on mortgage rates and new jobless claims.

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4246 Stage Stop Way Wickenburg, AZ 85390

$669,000

2 Beds

2 Baths

1,798 SqFt

Status Active

MLS # 6782439

Property Type Single Family Residence

Price Type --

Acacia Floor Plan situated on a stunning lot with common area on two sides. 2 bed/2 bath w/Den Open Floor Plan. Stunning Water Feature, Built in Firepit, BBQ and Custom Pergola Extension are just a few of the outside features of this beautiful home. SS appliances in kitchen, large center island and walk in pantry. Primary Suite w/Double sinks, custom shower enclosure and spacious walk in closet. Guest Room at the front of the home w/Full Hall bathroom. Motorized blinds and shutters adorn the windows in the home and the garage has been completely insulated. Leased Solar on the home.

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1525 W Knowles Avenue Mesa, AZ 85202

$669,000

4 Beds

3 Baths

2,670 SqFt

Status Active

MLS # 6783847

Property Type Single Family Residence

Price Type --

Seller is crediting 2% rate buy down with full price offer

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4240 Blacksmith Way Wickenburg, AZ 85390

$669,000

2 Beds

2 Baths

2,057 SqFt

Status Active

MLS # 6785714

Property Type Single Family Residence

Price Type --

Nestled within the prestigious Wickenburg Ranch community, this exquisite home epitomizes modern luxury and comfort. As you step inside, a wall of sliding glass doors floods the space with natural light. The kitchen boasts an expansive island and granite countertops, complemented by a convenient walk-in pantry and sleek hood range. An open floor plan effortlessly connects the kitchen to the inviting living area, adorned with a cozy den for relaxation or work. 2 bedrooms offer restful retreats, accompanied by 2 luxurious bathrooms for ultimate convenience. Outside, a low-maintenance landscaped backyard beckons with its tranquil ambiance, featuring a beautiful water feature, outdoor kitchen w/sink, covered patio, and magnificent mountain views perfect for alfresco dining

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861 N Soho Place Chandler, AZ 85225

$669,000

4 Beds

2 Baths

2,136 SqFt

Status Active Under Contract

MLS # 6780830

Property Type Single Family Residence

Price Type --

Step into one of the few 4-bedrooms in this park-filled neighborhood, featuring a modern split floor plan. This fully remodeled, move-in-ready home shines with a designer kitchen—complete with pristine white cabinets, quartz counters, an oversized island for entertaining and brand-new Frigidaire Gallery stainless steel appliances. Enjoy an inviting, bright atmosphere with beautiful new floors, quartz countertops, and vaulted ceilings throughout. The main living area's cozy gas fireplace creates a focal point for family gatherings, while the primary suite offers a true escape with a spa-like bathroom retreat. Outside, low-maintenance desert landscaping and a covered front patio make for enviable curb appeal. The backyard is an entertainer's dream with a covered patio, sparkling pool, and no backyard neighbors for enhanced privacyperfect for Arizona summers. Ideally located near top grocery stores, coffee shops, and dining, this rare find is where style meets convenience. Homes like this don't last long!

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654 S Sabrina -- Mesa, AZ 85208

$669,000

6 Beds

3.5 Baths

3,980 SqFt

Status Active

MLS # 6736359

Property Type Single Family Residence

Price Type --

Discover elegance in this exquisite 6-bedroom, 3.5-bath home in Parkwood Ranch, just under 4000 sq ft. The gourmet kitchen boasts granite counters, white cabinets and stainless steel appliances. The master suite features a luxurious walk-in shower. Enjoy the expansive loft, perfect for a playroom. Outside, the sparkling pool, mature landscaping, and RV gate create a private oasis. This home seamlessly blends style and comfort for extraordinary living.

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8901 S Dateland Drive Tempe, AZ 85284

$669,000

4 Beds

2 Baths

2,066 SqFt

Status Active

MLS # 6751031

Property Type Single Family Residence

Price Type --

WESERV Best Home on Tour winner!!! This beautiful single level 4 bdrm home with heated salt water pool/spa is truly move in ready. The owner replaced the following since purchase 2 yrs ago: new salt water system in the pebble-tec pool/spa, water heater w/recirculation system, soft water and RO system, dishwasher, kitchen countertops, back landscaping & paver areas, interior/exterior paint, tile floors and carpet! From the patio entrance, custom front door, vaulted ceilings, wood burning fireplace in family rm, laundry rm with upper and lower cab's with full countertop. Primary bdrm has door to backyard. Note: behind wood fence is where a built-in BBQ was planned (gas lines, power, water available & cement). You'll have peace of mind living here with many of the big $ items done

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44421 N 12th Street New River, AZ 85087

$669,000

4 Beds

2.5 Baths

2,219 SqFt

Status Active

MLS # 6769371

Property Type Single Family Residence

Price Type --

PRICED BELOW COMPS! Don't miss this cozy 4 bed, 2.5 bath territorial home. NO HOA! 3 car garage. Nestled in the serene landscape of New River, this property offers breathtaking views of the surrounding mountains and open spaces. Living/dining areas are separated from the kitchen/family room, maximizing comfort and functionality. The spacious kitchen has a gas range, upgraded cabinetry, granite counters and beautiful stainless steel appliances. The whole house generator ensures uninterrupted power supply, adding convenience and peace of mind. Ideal for horse enthusiasts, featuring ample space for corral and horse related activities. Included is a 10x20 storage shed that can hold your off roading toys and more. 2 119-gal propane tanks. A greenhouse. Easy care artificial turf. Freshly painted exterior and 2 new garage doors and openers. Views of the mountains off both patios are amazing! Awesome sunsets. Very private at the end of the cul-de-sac. Close to TSMC, 101, 303 and the I-17 freeways. Less than a mile away from the entrance to the Tonto National Forest. This home has so much to offer - don't miss this one

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34218 N 26th Avenue Phoenix, AZ 85085

$669,000

6 Beds

4 Baths

2,903 SqFt

Status Active

MLS # 6760835

Property Type Single Family Residence

Price Type --

Stunning home with commercial water sprinkler system. Home with over 3200 square feet of living space, six bedrooms and four bathrooms. The great room and family room are both very large. Professionally done new interior paint. Kitchen cabinets have also been redone. New carpet throughout. The home is immaculate, spotless and move in ready. Fully fenced in yard with block wall for privacy. No neighbors behind or on the south side of home.

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10695 E Straight Arrow Road Dewey, AZ 86327

$669,000

4 Beds

4 Baths

3,298 SqFt

Status Active

MLS # 6760408

Property Type Single Family Residence

Price Type --

Nestled in the desirable Prescott Country Club community, this home offers comfort, convenience, and captivating views. This 4-bedroom haven is move-in ready. Step inside to discover a bright living space with a remodeled kitchen. New furnace and water heater (2023) ensure year-round comfort, while updated windows frame stunning vistas. The main level features single-level living with 3 bedrooms, laundry, garage, and an office. The lower level boasts an in-law suite with a kitchen, living room with a fireplace, and a sauna. Imagine hosting gatherings on the expansive deck, taking in the views, or firing up the BBQ. Additional highlights include a 2.5-car garage with built-ins, a second laundry downstairs, pre-wired surround sound, and skylights. This house is truly a home.

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6758 W Firebird Drive Glendale, AZ 85308

$669,000

4 Beds

3 Baths

2,524 SqFt

Status Active

MLS # 6763104

Property Type Single Family Residence

Price Type --

This Is It! Beautiful Home In Sierra Verde Community! 4 Beds + Bonus Room, 3 Baths, 2 Car Garage, Formal Living Room w/Plantation Shutters & High-Vaulted Ceiling, & Inviting Family Room That Opens To The Kitchen! Natural Light Filled The Interior, Complemented By Designer Paint, Tile, Etc. Gourmet Kitchen w/SS Appliances, Granite Counters, Recessed Lighting, Updated White Cabinets, Island, Breakfast Bar, & Bay Window In Dining Area. 1 Bedroom/Bath Downstairs, Upstairs Main Bedroom w/Bonus Room Perfect For Office/Gym, Remodeled Shower & Walk-In Closet. Oversized Corner Lot, Tons Of Privacy From The Mature Trees, Entertainer's Backyard w/Extended Covered Patio, Grassy Area, Storage Shed, & Sparkling Pool! Community Lake, Playgrounds, Basketball Courts, Close to 101 Freeway! N/S Exposure!

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21320 N 56th Street Unit 2145 Phoenix, AZ 85054

Open House

$669,000

2 Beds

2 Baths

1,843 SqFt

Status Active

MLS # 6756142

Property Type Apartment

Price Type --

Carefree resort lifestyle in an incredible location! Just steps to three pools, workout facilities, and gas grills in this gated community. Walk to more than 160 shops and restaurants at High Street, Desert Ridge Marketplace and City North's new mixed-use development.! Easy access to the 101 freeway, Mayo Clinic, Scottsdale, PHX, and more, just lock and go. This 2-bed + flex, 2-bath, 1,843 sq. ft. residence overlooks green-space and features a spacious covered balcony, gas fireplace, granite countertops, large primary suite with walk-in closet, and an oversized 2-car garage.

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17923 N Catalina Court Surprise, AZ 85374

Open House

$669,000

2 Beds

2 Baths

2,035 SqFt

Status Active

MLS # 6761004

Property Type Single Family Residence

Price Type --

Arizona Living at Its Finest! Discover this beautifully refreshed Verbena Model, offering 2 spacious bedrooms, 2 updated baths, and a large den—perfect for a home office or additional living space. Situated on an expansive lot in a quiet cul-de-sac, this home is designed for both relaxation and entertainment. The secluded backyard oasis includes a private swimming pool, an extended patio with a new gas BBQ, and a cozy gas fire pit, perfect for outdoor gatherings under the Arizona sky. Inside, you'll find new carpet in both bedrooms and plantation shutters, adding style and comfort. The primary bedroom offers a peaceful retreat with an updated bathroom for modern living.Enjoy the convenience of easy access from the garage directly into the kitchen, making grocery trips a a breeze. Updated gas furnace, air handler, and hot water tank, ensuring your home is both efficient and low-maintenance. Golf lovers will appreciate the prime location near Granite Falls North's 3rd Hole and Granite Falls South's 7th Hole. Don't miss your chance to own this fantastic Arizona property!

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