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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5328 N Cordes Drive Eloy, AZ 85131

$679,900

3 Beds

3.5 Baths

2,489 SqFt

Status Active

MLS # 6772685

Property Type Single Family Residence

Price Type --

BEAUTIFUL home w/CASITA, SPA, PAID SOLAR & NEW AC unit! Kitchen features Custom staggered cabinets, wall oven & microwave, Granite counters, pot filler over the GAS stove & wine cooler. Master has bay window, crown molding & custom closet system. Den w/custom built-in shelving & desk. Surround Sound throughout. Entertainment center & TV stay! Sellers just replaced back windows & slider. Casita has Murphy bed, closet & full bath. Garage has a 4 ft extension, AC, new water softener & water heater, 50 AMP RV Hookup, epoxy flooring, workshop & built-in cabinets. The nearly 14,000 sq ft backyard is perfect for Entertaining! New Hot Tub, new landscaping w/lighting, 2 GAS FIRE PITS & Outdoor kitchen w/new built-in Grill w/searing burner covered by large custom pergola. Come see today!

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5702 W Windrose Drive Glendale, AZ 85304

$679,900

5 Beds

3.5 Baths

4,011 SqFt

Status Active

MLS # 6782433

Property Type Single Family Residence

Price Type --

ABSOLUTELY MAGNIFICENT PROPERTY IN DESIRABLE MARSHALL RANCH ON 1/3 ACRE LOT! TWO MASTER BEDROOMS--ONE UPSTAIRS AND ONE DOWNSTAIRS* LARGE GORGEOUS TILE THROUGHOUT FIRST FLOOR* BEAUTIFUL CUSTOM ENTRY DOOR AND MATCHING BANISTERS* FAMILY ROOM KITCHEN COMBO WITH KITCHEN ISLAND* PLANTATION SHUTTERS THROUGHOUT* HUGE PANTRY AND LOTS OF CLOSET SPACE* FAUX WOOD FLOORING THROUGHOUT SECOND FLOOR LOFT AND 4 BEDROOMS* CENTRAL VAC UP AND DOWN STAIRS* LARGE BEDROOMS EACH WITH WALK-IN CLOSET* HUGE BACK YARD WITH TWO COVERED PATIOS* SEPARATE SHED* RV GATE* THREE-CAR GARAGE* YOU WILL LOVE THIS HOUSE!!

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13332 W Palo Verde Drive Litchfield Park, AZ 85340

$679,900

5 Beds

3.5 Baths

4,464 SqFt

Status Active

MLS # 6654021

Property Type Single Family Residence

Price Type --

Nestled in the prestigious gated community of Dreaming Summit, this exquisite home is just a stroll away from top-notch schools, welcomes you with open arms. New Turf landscape for both front and rear yards provides for more time to relax with friends and family. The custom leaded glass front door sets the tone for the elegance that awaits inside. Discover a harmonious blend of spacious living and refined aesthetics with 5 generously-sized bedrooms, 3.5 baths, and ample space for the whole family. Revel in the details, from the sleek tile and easy-care laminate flooring, along with a spacious 3-car garage and new RV gate, add a touch of luxury to everyday living. Picture yourself unwinding on the extended patio, overlooking a picturesque backyard oasis complete with a sparkling swimming pool, and breathtaking mountain views. This home is not just beautiful but also functional, boasting an enormous chef inspired kitchen with island, stainless steel appliances and double wall ovens. It's a turnkey masterpiece! The grand main suite is a retreat within itself and deluxe ensuite bathroom with dual vanities, soaking tub and separate shower. Experience the grandeur that awaits in every corner of this remarkable residence! Your dream home is ready for you! Litchfield Park is a picturesque city nestled in the West Valley of the Phoenix metropolitan area. Known for its tree-lined streets, manicured lawns, and a mix of historic and modern architecture, the city offers residents a serene and welcoming environment. The city hosts various events and festivals throughout the year, fostering a strong sense of community among its residents. The Wigwam Resort, a historic landmark in the area, adds to the city's appeal with its luxurious amenities and world-class golf courses. There are countless beautiful parks and green spaces as well as the Wildlife World Zoo, Aquarium & Safari Park, both located nearby, offering an exciting adventure for families and animal lovers. Foodies will enjoy the vast range of dining options from cozy cafes to upscale fine dining.

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7180 E Kierland Boulevard Unit 204 Scottsdale, AZ 85254

$679,900

1 Bed

1 Bath

773 SqFt

Status Active

MLS # 6701124

Property Type Apartment

Price Type --

PRICE IMPROVED! Don't miss out on this AMAZING opportunity to own a FULLY FURNISHED home at Optima Kierland, the ultimate in luxury lifestyle starts here! Urban walkability and resort style amenities await you. Luxurious one bedroom suite with floor to ceiling windows & a glass door that opens to a large covered terrace with gorgeous courtyard views! Stainless steel Bosch appliances, gas cooktop and full size stacked washer and dryer. Amenities include a rooftop pool and spa, running track, cabana seating,state of the art fitness center, locker rooms, hot/cold plunge, sauna & steam rooms,massage room, indoor basketball court, gaming room, golf simulator, putting area, bocci ball, business center, conference rooms and so much more. Walking distance to Scottsdale Quarter & Kierland Commons

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10633 E Sheffield Drive Mesa, AZ 85212

$679,900

3 Beds

2.5 Baths

2,475 SqFt

Status Active

MLS # 6726269

Property Type Single Family Residence

Price Type --

Welcome to your oasis in Mesa's Eastmark community! Showcased like a MODEL home by the ORIGINAL owners, this stunning residence offers the opportunity to own a highly desirable floor plan that rarely becomes available. Enjoy the spacious layout featuring 3 bedrooms PLUS a den, ideal for today's lifestyle. The gourmet kitchen boasts DOUBLE ovens, GAS range, stainless steel appliances, and a large island, complemented by a charming white subway tile backsplash. Relax in the luxurious master suite featuring a huge walk-in shower, dual sinks, and a walk-in closet with direct access to the laundry room. All enhanced by wood plank-look tile flooring throughout. Outside, entertain effortlessly with a built-in barbecue, bar/counter seating, and an in-ground spa surrounded by travertine! set amidst a manicured, low-maintenance backyard. Why wait months for a builder when you can have this like-new beauty complete with modern custom upgrades!

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2851 N Ricardo -- Mesa, AZ 85215

$679,900

3 Beds

2 Baths

2,691 SqFt

Status Active

MLS # 6750965

Property Type Single Family Residence

Price Type --

BACK ON MARKET-SELLER WILL PROVIDE UP TO $20,000 FOR BUYERS CLOSING COSTS AND/OR INTEREST RATE BUY DOWN with acceptable offer. Beautiful home in great northeast Mesa location. Just minutes from the Salt River and near shopping and entertainment centers. Brand new roof with 30 year transferable warranty, large 3 car garage with upgraded electric, ramada, large covered patio, open paver patios, large private back yard with water feature. The interior has an open floorplan with vaulted ceilings, fireplace, french doors, MB with bath large walk in shower, updated kitchen with large island, granite counters and custom backsplash, custom built ins, upgraded lighting, 2'' wood blinds, and wood look tile flooring. Owner occupied. Please give 1 hour notice to show. Agent is related to seller.

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7233 W Honeysuckle Drive Peoria, AZ 85383

$679,900

5 Beds

3 Baths

3,376 SqFt

Status Active

MLS # 6753210

Property Type Single Family Residence

Price Type --

SELLER TO LOOK AT ALL REASONABLE OFFERS* Priced to sell! HUGE 5 bedroom PLUS a very large game-room which is begging for a home theatre setup. Home feels so much larger than the already gigantic 3376 sqft it represents * Brand new high seer LENNOX ELITE dual AC compressors 2022 * Colossal country kitchen with separate island and staggered oversized uppers * Cavernous walk in Pantry! * Stone backsplash * Freshly cleaned carpets * Fresh complete interior paint Sept 2024 * Soaring ceilings! * Did I mention the 3 car garage or the sparkling pool with soothing rock waterfall? You'll see them PLUS one of the best locations in the entire neighborhood as it backs to wilderness, no neighbors behind! Split His/Her master closets!* All formal living/dining/famlyrms Original owners to

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10505 E Cinnabar Avenue Scottsdale, AZ 85258

$679,900

3 Beds

2.5 Baths

2,079 SqFt

Status Active

MLS # 6759856

Property Type Townhouse

Price Type --

*SELLER IS MOTIVATED* Discover this beautifully updated single-level home with an exceptional floor plan offering 3 bedrooms and 2.5 baths, including two ensuite bedrooms for added privacy and convenience. There's also a versatile third room that could function as a bedroom, den, or office, complete with its own half bath. Located in the highly desirable Heritage Village IV, part of the vibrant 55+ Scottsdale Ranch community. Meticulously maintained and thoughtfully upgraded, the property features newer flooring, fresh paint, an upgraded kitchen, and a fully renovated master walk-in closet. The outdoor patio, complete with new pavers, beautiful landscaping, a lemon tree, and a retractable awning, provides a peaceful retreat. Heritage Village IV offers access to amenities like heated pools, spas, tennis courts, and a clubhouse. Residents also enjoy access to the 42-acre Lake Serena for boating and recreation. With vaulted ceilings, natural light from skylights, a wet bar ideal for entertaining, and close proximity to Scottsdale's best dining and shopping, this home offers both style and comfort in a vibrant, active community.

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5916 E Spring Road Scottsdale, AZ 85254

$679,900

3 Beds

2 Baths

1,898 SqFt

Status Active

MLS # 6770519

Property Type Single Family Residence

Price Type --

No HOA!!! Single split-level 3 bedroom 2 bathroom Scottsdale Home. This home has many upgrades including ceiling fans and 2'' faux wood blinds wood laminate floors in all living areas, vaulted ceilings and two-tone neutral paint. Kitchen features granite counter tops,island, Large pantry, upgraded cabinets and large eat at peninsula overlooking living room. The large primary suite includes 2 ceiling fans, private exit to backyard, walk-in closet, double sinks, granite counters and oversized walk-in shower with dual shower heads and glass door. Desert landscaping in front and back yards. Easy Access to the 101 or 51 freeways and close to schools, shopping and restaurants.

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8351 E Monte Avenue Mesa, AZ 85209

$679,900

3 Beds

2 Baths

2,920 SqFt

Status Active

MLS # 6679154

Property Type Single Family Residence

Price Type --

This Extraordinary home offers wide open living space. Open kitchen to family room to large eating area is entertaining and family orientated. Home also offers a formal dining area. The Double Master Bedroom set up for both family and guests. A third bedroom/den gives even more space when needed. The kitchen has a Breakfast bar, plus an island. Appliances are top of the line Kitchen Aide including the trash compactor. The granite counter tops are beautiful. Upgraded tile flooring with carpet in all the right places. The huge main master is a suit with plenty of room. The home sits on an oversized lot offering the owner to set up a resort style entertaining. Larger two car garage with cabinets & workshop with room to park the golf cart. Sunland Village East Offers loads of activities and events. Low HOA Fee of $825 annually.

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2026 E Laurel Circle Mesa, AZ 85213

$679,900

4 Beds

2 Baths

2,439 SqFt

Status Active

MLS # 6763254

Property Type Single Family Residence

Price Type --

Gorgeous home with FLOOD IRRIGATION and NO HOA! No corner has been left untouched. OWNED Tesla solar and battery make your energy bills incredibly efficient. The vaulted ceilings and bright rooms make the entire home your spacious retreat. Fully remodeled kitchen with quartz countertops, double ovens, and tons of upgrades will make your chef's heart sing. The primary suite checks all the boxes for you to relax after a long day at work (jetted tub, anyone?) including space for your own private reading nook. Also notice the spacious walk-in closet and large windows providing tons of natural light. The backyard is an entertainer's dream with a long covered patio, a basketball court, and several established fruit trees. Flood irrigation keeps your yard cool and water bills low. Recent upgrades include new windows (front of home), AC condenser, water heater, and wood-look ceramic tile. With close proximity to excellent schools and the 202 freeway, this home is ideally located and won't last long on the market!

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4444 N 25th Street Unit 15 Phoenix, AZ 85016

Open House

$679,900

2 Beds

4 Baths

1,942 SqFt

Status Active

MLS # 6781835

Property Type Townhouse

Price Type --

Stunning property in the coveted Encue Biltmore boasts skyline and mountain views with a contemporary lifestyle. Chef inspired eat-in kitchen features an island-breakfast bar, gas cook top, & Bosch appliances, overlooking the living & dining room areas perfect for relaxing or entertaining. This home offers two spacious primary bedrooms with en-suite bathrooms, a flex room for a home office, den, or guest room. New dreamy custom closets. Tankless hot water heater, 2-car garage with epoxy flooring, storage racks, & water softener. Tons of storage space. New carpet. Patio offers new pet friendly turf. Refrigerator, washer, and dryer included. This impeccably maintained luxurious community offers Heated pool, spa, BBQ, and pet area. Situated in a prime location offering an ideal blend of modern amenities & convenience. Centrally located near top-notch restaurants, shopping, golf, iconic Biltmore area, nightlife, biking, hiking, & fitness.

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