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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22664 E Happy Road Queen Creek, AZ 85142

$677,433

4 Beds

3.5 Baths

2,965 SqFt

Status Active

MLS # 6735583

Property Type Single Family Residence

Price Type --

This is a brand new Quick Start Home under construction in Queen Creek, with a Ranch Elevation. The Kelly plan includes 4 bedrooms, 3.5 baths, Flex Room, 3 car garage. Gourmet Kitchen appliances that include a gas cooktop with a built-in oven/microwave and dishwasher. Owner's Bathroom includes a separate shower with a freestanding tub. Move-in anticipated for October/November. Included in the Emerald Collection are 10 foot ceilings, 8 foot interior doors and paver driveways and front porches. Please ask about our special financing incentives with Mattamy Home Funding.

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1075 E Shangri La Road Phoenix, AZ 85020

$677,000

3 Beds

3 Baths

2,344 SqFt

Status Active

MLS # 6692262

Property Type Single Family Residence

Price Type --

OWNERS HAVE OWNED HOME FOR ALMOST 30 YEARS AND THIS WAS THEIR VACATION HOME, 3-4 MONTHS A YEAR, LIGHTLY LIVED IN, BEAUTIFUL VIEWS AND GORGEOUS EXTERIOR, HOME IS LUSH WITH LANDSCAPING AND HEATED POOL/SPA, THREE BEDROOMS AND DOWNSTAIRS DEN/OFFICE, MASTER SUITE UPSTAIRS WITH LARGE WALK IN CLOSET AND LARGE BALCONY OVERLOOKING THE BEAUTIFUL BACKYARD, SEP SHOWER AND TUB, ONE OTHER BEDROOM UPSTAIRS AND ONE BEDROOM DOWNSTAIRS, VERY HIGH CEILINGS IN ENTRY, FORMAL LIVING AND DINING ROOM, LARGE EAT IN KITCHEN WITH GRANITE AND VIEWS TO THE FAMILY ROOM WHICH HAS A FULL WALL FIREPLACE AND TV ON MANTLE, TWO CAR GARAGE, GEORGEOUS CURB APPEAL,

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10618 E Ensenada Street Mesa, AZ 85207

$677,000

3 Beds

2.5 Baths

2,221 SqFt

Status Active

MLS # 6765796

Property Type Single Family Residence

Price Type --

Discover this stunning open single-level home on an oversized lot with breathtaking mountain views! The entertainer's gourmet kitchen features a built-in stainless wall oven, microwave, and cooktop, along with staggered cabinets and granite countertops. Enjoy brand new appliances, fixtures, and handles, spacious bedrooms, a tiled walk-in shower, a new hot water heater, and a whole-home filtration and softener system. The half bath is beautifully remodeled, the interior freshly painted, and tile flooring is installed throughout. The garage offers ample extra storage and an extended paved driveway with a double gate to park your recreational vehicles. The expansive backyard boasts a sparkling heated and cooled pool, with a landscaped yard that's ready for you to enjoy. This is a must-see!

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2439 W Rowel Road Phoenix, AZ 85085

$676,500

4 Beds

3.5 Baths

2,511 SqFt

Status Active

MLS # 6785206

Property Type Single Family Residence

Price Type --

NEW HOME - DREAM LOCATION! This home at Aster in Union Park includes 2,511 sq ft of living space, 4 bedrooms, 3.5 bathrooms, and a 2-car large garage. Features the Elite A design upgrades, including 42'' white cabinets, quartz countertops, custom backsplash, large island, 8x40'' tile, stainless-steel CAFE' kitchen appliances, CAFE' Refrigerator & single bowl sink. All bathrooms have quartz countertops with Kohler undermount sinks and the primary bathroom has custom marble style flooring. Quality and Energy efficiency includes tankless hot water heater, Tech Shield roof barrier and blown in wet cellulose insulation. EVO smart home technology included. Union Park, residents can indulge in amenities including a pool, clubhouse, playgrounds, pickleball and basketball courts.

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22701 E Saddle Way Queen Creek, AZ 85142

$675,990

5 Beds

3.5 Baths

2,623 SqFt

Status Active

MLS # 6740882

Property Type Single Family Residence

Price Type --

**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Diamond plan is highly sought after floorplan with 5 bedrooms and 3.5 baths. Options for structural upgrades include adding a a sixth bedroom, two additional bathrooms, 12'' sliding glass door and so much more. This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances. Amazing spa like primary suite with dual vanities, ample linen storage and separate tub and shower. This floorplan is accompanied by an oversized den and sizable secondary bedrooms with walk in closets. This home comes standard with 9' ceilings, front yard landscaping, paver driveway, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

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5214 W Rainwater Drive Laveen, AZ 85339

$675,000

3 Beds

3 Baths

2,392 SqFt

Status Active

MLS # 6783816

Property Type Single Family Residence

Price Type --

MLS#6783816 December Completion - Introducing the 55-RV2 floor plan at Tierra Montana—a thoughtfully crafted single-story home with 2,392 square feet of beautifully designed living space. This residence offers 3 spacious bedrooms, 3 bathrooms, a 3-car tandem garage, and a dedicated RV garage complete with convenient RV cleanouts, blending functionality with modern sophistication. The open layout connects the kitchen, gathering room, and dining area, creating a warm and welcoming space perfect for family gatherings, entertaining, and more. The kitchen features elegant 42'' recessed maple cabinets, white quartz countertops, and a GE Café gas range, making it an ideal hub for both casual meals and special occasions. Structural options include: paver front porch, garage service door, 16' x 8' multi sliding glass door, outdoor living extension, RV cleanouts, prewire for HVAC at RV garage, marble shower in lieu of tub and shower in primary, 8' interior doors, soft water loop and gas line for future outdoor use.

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171 W Flagstone Place Casa Grande, AZ 85122

$675,000

3 Beds

3 Baths

2,753 SqFt

Status Active

MLS # 6699795

Property Type Single Family Residence

Price Type --

AMAZING SINGLE LEVEL HOME IN DESIRED COYOTE RANCH SUBDIVISION!! WALK INTO A LARGE FORMAL LIVING/DINING ROOM WITH BEAUTIFUL VIEW TO THE RESORT LIKE BACKYARD.SPACIOUS KITCHEN INCLUDES STAINLESS STEEL APPLIANCES,NEW WALL OVEN/MICROWAVE, GRANITE COUNTERTOPS, HUGE ISLAND AND R/O WATER SYSTEM IN KITCHEN. WATER SOFTNER AND CENTRAL VAC. SPACIOUS MASTER SUITE WITH LARGE WALK-IN CLOSET AND DOOR THAT EXITS TO EXTENDED COVERED PATIO. BEAUTIFUL MASTER BATH WITH GLASS BLOCK SNAIL SHOWER, DOUBLE VANITY, SEPARATE TUB AND PRIVATE TOILET. HUGE LOW MAINTENANCE LUCIOUS BACKYARD WITH DESIGNED DESERT LANDSCAPE. EXTENDED COVERED PATIO. NEWLY REPLACED POOL EQUIP & REFINISHED AMAZING POOL WITH ROCK FOUNTAIN IN THE POOL, WATERFALL AND ROCK FORMATION WATER SLIDE.

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15236 N 20th Place Phoenix, AZ 85022

$675,000

3 Beds

2 Baths

1,475 SqFt

Status Active

MLS # 6696568

Property Type Single Family Residence

Price Type --

Discover the opportunity of a lifetime - your very own dream vacation rental property is now available for sale! Indulge in the sheer luxury of this fully furnished vacation home, where every detail has been meticulously curated to create an inviting and comfortable ambiance. From the cozy living room to the fully equipped kitchen, this property ensures your guests have all they need for a memorable stay. Luxurious bedrooms and tasteful décor, your guests will find the utmost comfort and relaxation. Rest easy knowing that this vacation rental property has been meticulously maintained.: Pool Heater HVAC and Roof all new in 2022. Turnkey opportunity for the new owner. Not into vacation rentals, this is a perfect family home on a quiet cul-de-sac near Lookout Mountain! No HOA!

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1501 Varsity Drive Prescott, AZ 86301

New

$675,000

3 Beds

2.5 Baths

2,456 SqFt

Status Active

MLS # 6788867

Property Type Single Family Residence

Price Type --

Well appointed Main Level Living with nice views and tons of natural light in the gated community of Astoria. Downstairs there is a spacious living room with a gas fireplace, dining room and kitchen with granite countertop, stainless steel appliances and lots of storage, a guest bedroom, separate bathroom, an office that can be used as a fourth bedroom and a laundry room. Also on the main level are the primary bedroom with a wonderful bath that has a walk in shower, double sinks and a large walk in closet. Extended rear covered patio with tons of pavers, artificial grass and low maintenance landscaping. The 2nd floor features an enormous Game Rm/Family room w/ the 3rd Bedroom & a Full Bath as well as a large deck with nice views.

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1416 N St Paul -- Mesa, AZ 85205

New

$675,000

5 Beds

3 Baths

2,545 SqFt

Status Active

MLS # 6788857

Property Type Single Family Residence

Price Type --

Welcome to this stunning, 5 bedroom, 3 bath residence, perfectly situated in the highly sought-after Higley Heights of Mesa. This exceptional home offers an unparalleled lifestyle with ample space for the entire family to thrive. Enjoy the expansive, open kitchen featuring stainless steel appliances, walk-in pantry and a large island perfect for food prep and casual dining. The large, second master bedroom with its own bathroom and walk-in closet is perfect for extended family or guests. Pristine tile flooring throughout the main living areas and plush carpeting in the bedrooms enhance the beauty and functionality of this home. Large windows adorned with custom built plantation shutters fill the home with natural light creating a warm and inviting atmosphere. The professionally landscaped, spacious backyard oasis, complete with pavers and artificial turf offers endless entertainment possibilities. Relax and enjoy the community parks, pool and convenient access to shopping, dining and many nearby attractions and recreational activities. Don't miss out on this incredible opportunity to make this home your own!

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16159 W Granada Road Goodyear, AZ 85395

$675,000

3 Beds

2.5 Baths

2,564 SqFt

Status Active

MLS # 6723929

Property Type Single Family Residence

Price Type --

Gorgeous 3 beds, 2.5 bath with a den/office single level home with all the bells and whistles! Open concept kitchen flows out to the great room for easy entertaining. Elegant granite countertops, large kitchen island, maple cabinets, upgraded drawer/cabinet pulls, stainless steel appliances, and recessed lighting. Upgraded tray ceilings in formal dining room & master bedroom, TWO fireplaces, and private courtyard entrance. Master bathroom offers a separate shower & soaking tub, and dual sinks, and walk in closet. Easy to maintain backyard complete w/ pavered area & walkway. Walking distance to community greenbelts & play area. This home is truly move in ready!

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823 W Clay Avenue Flagstaff, AZ 86001

$675,000

6 Beds

2.5 Baths

2,422 SqFt

Status Active

MLS # 6738092

Property Type Single Family Residence

Price Type --

ATTENTION ARTISTS, INVESTORS, & SMALL BUSINESS OWNERS! Looking for the perfect work life balance? This super cool 6 BD 2.5 BR home in Old Town Flagstaff checks all the boxes! Zoned Highway Commercial, this mixed-use property provides a perfect place to call home while doubling as a workspace in the center of the busiest traffic corridor in Flagstaff. The nearby university and high-density residential areas pack in foot traffic to and from NAU. Clay Ave is a well known ''back street'' for motorists looking for a quick route from Butler or Milton to Route 66 and back. Tucked away from the hustle, but still in the heart of it all! The main level opens into a sizeable mud room that gives way to the main living room and guest bathroom. Through the kitchen, you'll find a second living space, flanked with a ¾ bathroom, laundry room and back bedroom with exterior access to what could be a parking lot area. At the center of the building, stairs lead you up to 4 unique bedrooms featuring built ins, a dormer window, and a full, separate bathroom. At the base of the stairs, the final 6th bedroom awaits, each with authentic wood floors serving the historic value of this home. Pine bead board, craftsman style windows, cottage glass doors, shiplap walls, nooks and crannies...this old soul house is as far away from millennial gray as you can get! Don't miss this one of a kind opportunity to own a true piece of art. Research the Downtown Mile Project for more area developments!

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