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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3795 E Latham Court Gilbert, AZ 85297

$650,000

4 Beds

3 Baths

2,934 SqFt

Status Active

MLS # 6783589

Property Type Single Family Residence

Price Type --

This Gilbert 4 / 5 bedroom and 3 bathroom home with a loft, 3 car garage, and RV gate, is truly unique to Coronado Ranch. With custom rounded doors and attention added to the architecture, you will not want to miss making this your home. There is one bedroom and full bath downstairs as well as a front room and dining room. Upstairs you will find a large loft and 3 bedrooms, with a den built off the oversized master bedroom. The den can be enclosed to make this home a 5 bedroom home plus a loft and the added space downstairs. With an open kitchen and oversized wide lot that backs to a green belt, you have plenty of physical and visual space. Great community and location in Gilbert with fantastic amenities including a splash pad, parks, and more! amenities!

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36655 N 25th Street Cave Creek, AZ 85331

$650,000

4 Beds

3 Baths

2,350 SqFt

Status Active

MLS # 6702523

Property Type Single Family Residence

Price Type --

Spacious Home/ Great views on private Street on 1.6 acres, 4 beds/3baths, huge room, stunning rock fireplace in wood, big room with sitting rooms views in all directions.

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40 E Balboa Drive Tempe, AZ 85282

$650,000

4 Beds

2 Baths

2,714 SqFt

Status Active

MLS # 6785897

Property Type Single Family Residence

Price Type --

Discover a rare gem in Tempe with this exceptional home situated on nearly 1/3 acre (14,161 sq. ft.) of prime real estate. * New HVAC installed September, 2024. Properties with such expansive lots are a rare find in this sought-after area, making this home an incredible opportunity. This beautiful residence features 4 bedrooms and 2 bathrooms, perfect for families or those who desire extra space. The fully equipped kitchen boasts elegant maple wood cabinets, spacious quartz countertops, and stainless steel appliances. The home's interior is equally impressive, with wood and tile floors that add a touch of warmth and sophistication. The family room is a cozy haven with a charming fireplace, ideal for relaxing evenings.

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2225 S Olivewood -- Mesa, AZ 85209

$650,000

2 Beds

2.5 Baths

1,993 SqFt

Status Active

MLS # 6785829

Property Type Single Family Residence

Price Type --

Upon this GORGEOUS GOLF COURSE LOT located on the Four Peaks 7th tee box sits this beautifully REMODELED home! The massive living room is bathed in natural light with a huge picture window showcasing your amazing golf course/Superstition Mtn views! In November, 2024, the following was completed: New interior paint, new light fixtures and door handles, new carpeting, freshly painted bathroom cabinets, new mirrors and light fixtures, new pullout drawers in kitchen, new canned lighting throughout the home, new ceiling fans, baseboards, window coverings, and the list goes on! The tile flooring is must see! A/C regularly serviced. This home is a beauty! The well-sized den works as an office or a hobby room. The 2 car garage includes attached cabinetry, a work area, and a utility sink. The backyard overlooks the golf course; it offers an extended covered patio with a large pergola & epoxy floor, ideal for relaxing. This active adult community includes tennis courts, pool, workout facility, and more! Don't miss out on this gem. Act now!

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21425 N 142nd Drive Sun City West, AZ 85375

$650,000

2 Beds

2.5 Baths

2,580 SqFt

Status Active

MLS # 6702403

Property Type Single Family Residence

Price Type --

Fabulous Montecito model with 2 bedrooms, 2.5 bath & den w double doors, situated on a prime location on the 3rd hole of the Trail Ridge Golf Course, showcasing 2 separate lakes, mountain & fountain views! Enter through a private, front courtyard that opens to a spacious great room w plantation shutters, overlooking gorgeous greens & several patio areas. Open kitchen with Corian countertops, plenty of cabinets, Bosch cooktop, GE Profile appliances & separate built-in ice maker. Primary bedroom bay window, large walk-in closet, double vanity & separate shower & tub. Inside laundry w sink & updated GE washer & dryer. Half-bath for convenience. Large 2 car garage w extra golf cart garage, newer garage door opener. Water heater 2019, Two Trane units 2010. Roof underlayment #30 LB in 2010.

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3510 S Verbena Road Casa Grande, AZ 85193

$650,000

2 Beds

2 Baths

1,240 SqFt

Status Active

MLS # 6711471

Property Type Single Family Residence

Price Type --

Unique opportunity! Check out this one-of-a-kind property less than a quarter mile from the Lucid Motors complex. 9.85 acres with a 2 bedroom 2 bath home, detached three car garage, two registered wells, a mobile home pad and a barn. Lots of possibilities for this property, what could you do with it?

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1311 W Windsong Drive Phoenix, AZ 85045

New

$650,000

4 Beds

2 Baths

2,280 SqFt

Status Active

MLS # 6778645

Property Type Single Family Residence

Price Type --

Great location. This upgraded home . Located in the desirable community of Foothills Club West with easy access to shopping, airport and tons of parks and trails. You will love entertaining with the spacious kitchen and living space including a gas fireplace. Large Master Suite with 5-pc ensuite and large walk-in closet. Elegant crown molding and no carpet in the home. The large lot includes an RV gate for you to park ATV. Boat, etc in the backyard. AZ is about outside living, and this home doesn't fall short as there is a built-in BBQ and large pebble deck patio that leads to the pool. Don't wait, be in your new home for the holidays.

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1208 W Random Way Payson, AZ 85541

$650,000

2 Beds

2 Baths

2,282 SqFt

Status Active

MLS # 6724003

Property Type Single Family Residence

Price Type --

For a quiet retreat with space to spread out on close to an acre. Need a place to park your RV? This home has plenty of room with the 2 car garage attached to the house and an additional 2 car garage/shop in the out building. Add to that a set up for covered RV parking. We have you covered...Don't forget the park and golfing down the street. Newly painted throughout with new flooring in kitchen, great room and hallway and new carpeting in bedrooms. New chain link fence as well. Green Valley Park and Payson Golf down the street. Take a peek in the utility room and see another storage area.....

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5322 N Oro Vista Court Litchfield Park, AZ 85340

New

$650,000

5 Beds

3.5 Baths

4,457 SqFt

Status Active

MLS # 6789006

Property Type Single Family Residence

Price Type --

Beautiful 5-bedroom, 3.5-bathroom home in an exclusive Litchfield Park gated community. This 4,400 plus sq ft home is nestled in a cul-de-sac with an extra-large lot (17,094 sq ft) with a massive back yard enclosed by a block wall fence. Landscaping is elegantly done with multiple palm trees, front yard grass and many desert plants. The home features an enclosed outdoor bar/entertainment area in addition to a covered patio. The interior includes an extra-large eat-in kitchen, great room with wet bar, formal living and dining rooms, and a main floor bedroom with bathroom. All remaining bedrooms are upstairs with the main bedroom and ensuite separate from the other bedrooms and a large loft/game room. Seller offering $25,000 towards flooring/remodel, closing costs or rate buy down.

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21545 S Camas Way Florence, AZ 85132

$650,000

2 Beds

2 Baths

1,971 SqFt

Status Active

MLS # 6737943

Property Type Single Family Residence

Price Type --

Magical Property! This beautiful rustic home is built with burnt adobe and is set on 10 acres adorned with majestic saguaros. There are views for miles, a wrap-around porch that you can sit and observe the local wildlife, and marvel at breathtaking views and spectacular sunsets. This home has stunning floors, gorgeous architecture features such as arched windows and doorways. The cozy the living room has a wood plank ceiling, exposed wood beams, a wood burning fireplace as well as a wood burning stove. The bathrooms even have lots of details you don't want to miss right down to the bronze faucets and designer towel bars. Come and explore the beauty of your next home.

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917 S Montezuma Avenue Phoenix, AZ 85003

$650,000

5 Beds

4 Baths

2,880 SqFt

Status Active

MLS # 6762354

Property Type Single Family Residence

Price Type --

Fantastic opportunity for Multi-Generation Home or a multi-unit Income Producing Investment Property in Central Phoenix! Beautifully updated Main Residence with 2 bedrooms & Ensuite Baths, Large Loft has cityscape & mountains views. Attached to Main House is a 1 bed/1 bath Apartment with separate entrance & patio. Property also has Casita / Guest House on separate meter featuring stunning updated kitchen, 2 beds/1 bath, laundry and private patio. Both Studio & Additional Home previously used as income producing short term rental units. Do not miss out on this unique opportunity close to City Central dining, shopping, events, and transportation!

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19700 N 76th Street Unit 2047 Scottsdale, AZ 85255

$650,000

3 Beds

2 Baths

1,729 SqFt

Status Active

MLS # 6751050

Property Type Apartment

Price Type --

Discover a rare opportunity to own a stunning residence in the highly sought-after gated community of Grayhawk Village. This exceptional 3-bedroom home offers breathtaking panoramic views of the McDowell Mountains, along with iconic Tom's Thumb, creating a serene backdrop for your daily life. Inside, the spacious floor plan includes an open kitchen that overlooks the family room and dining room. The generously sized primary and secondary bedrooms offer both comfort and convenience. Step outside onto the expansive outdoor terrace, where lush green grass and mature trees provide an oasis of privacy and tranquility. Whether you're sipping your morning coffee or entertaining guests, this space is your personal retreat. The community itself is rich with amenities, featuring tennis courts, heated pools, relaxing spas, a championship golf course, and Pickleball courtsideal for an active and vibrant lifestyle.This home is more than just a place to live; it's an invitation to experience the best of Scottsdale living in one of the most extraordinary locations Grayhawk Village has to offer.

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