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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1245 N Windmill Way Chino Valley, AZ 86323

$650,000

3 Beds

2 Baths

2,304 SqFt

Status Active

MLS # 6787306

Property Type Single Family Residence

Price Type --

FABULOUS Multi-Generational HORSE SETUP on 5.22 Fully Fenced Acres with a 17 GPM Well, Outstanding VIEWS, & easy access only .7 miles off Black Top. Home features 3Bedrooms/2Bathrooms/2.5CarGarage, 16'' Travertine Tile & Carpet for flooring, Ceiling Fans, GREAT ROOM Concept on both levels, Formal Dining Room & a massive Covered Deck on Upper level creating a massive Covered Porch on Lower Level. Kitchen is well appointed with Knotty Hickory Cabinetry, Corian Countertops, Eat-In Kitchen area, Quality Appliances (inc. Fridge, Oven/Range, Micro, New Dishwasher, & Washer/Dryer in Laundry all conveying). Upper floor also has Knotty Hickory/Corian in Family Room. Primary Bedroom is spacious, has dual Sinks, Jetted Tub/Separate Shower & large Walk-in Closet. Other amenities include NEW ROOF Pipe Fenced Perimeter, Cross fenced, 3 Auto Waterers, Hay Barn, Mare Motel, Large Shade structure, Workshop area in garage, & Zoning allows just over 10 Hooved animals.

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29623 N 205th Avenue Wittmann, AZ 85361

$650,000

4 Beds

2 Baths

2,416 SqFt

Status Active

MLS # 6775482

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4 BR, 2BTH home. It has an oversized garage with expansive bays. This property features a beautifully landscaped yard with an automatic irrigation system. The back yard is surrounded by a block wall with no-climb fence around property perimeter with an automatic gate situated on a 1.67 acre cul-de-sac lot. Plenty of room for horses or 4-wheeled toys. Built in 2018 by 1 owner/GC to the highest standards. Meticulously maintained and cared for, this move in ready home has no HOA making it an ideal choice for those seeking privacy and quality of life.

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6123 E Red Bird Lane San Tan Valley, AZ 85140

New

$650,000

3 Beds

2 Baths

1,655 SqFt

Status Active

MLS # 6788510

Property Type Single Family Residence

Price Type --

CUSTOM HORSE PROPERTY on over a 1.1 acre, fully fenced lot! No details spared, over $220,000 spent improving the land! Built in just 2019, this home offers charming curb appeal with a front porch, meticulous landscaping & 2 RV gates with circular drive. It features a split, great room floorplan with vaulted ceilings & an open kitchen featuring a large center island. This well laid-out lot offers a fenced yard with lush grass area, extended covered patio with pavers & wood burning fireplace. Beyond the yard you will find remarkable horse amenities including 4 stalls w/ misting systems, corral, hay barn, 60ft round pen, wash rack, hitching post & patience pole. There is also a large livestock pen, chicken coop, covered RV parking with water + power (not pictured) & 2 storage sheds.

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20662 S 196th Street Queen Creek, AZ 85142

New

$650,000

4 Beds

2.5 Baths

2,596 SqFt

Status Active

MLS # 6788225

Property Type Single Family Residence

Price Type --

Discover this beautiful single-level home located in the heart of Queen Creek, offering unmatched convenience with easy access to shopping, dining, and freeway connections. Situated on a desirable corner lot, this residence features 4 bedrooms and 2.5 baths, with a flex space that could be used for an office, sitting area or dining. making it ideal for families. The gourmet kitchen boasts granite countertops, an oversized island, double ovens, a pot filler, and staggered upgraded cabinets with a built-in wine rack. The open concept design includes wood plank tile floors and surround sound, perfect for entertaining, with a versatile flex space for an office or sitting area,.Step outside to your backyard oasis, complete with a pool featuring a water feature, artificial turf, and travertine pavers, all illuminated by charming party lights.

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3401 E Rosemonte Drive Phoenix, AZ 85050

$650,000

4 Beds

2.5 Baths

2,312 SqFt

Status Active Under Contract

MLS # 6784060

Property Type Single Family Residence

Price Type --

PRICED BELOW MARKET VALUE! Discover this beautifully updated 4-bedroom, 2.5-bath home, ideally located near PVCC, Desert Ridge Marketplace, and is minutes away from freeways! This residence combines stylish design and modern comforts, perfect for those looking to enjoy Arizona living at its finest. The stunningly updated kitchen features new cabinets, designer tile, and overlooks the family room with wood-burning fireplace. Attached to the kitchen is a large dinning room which flows seamlessly into the front living room. The expansive primary bedroom includes a recently renovated ensuite bathroom with chic finishes for a touch of luxury. Outdoors, your private oasis awaits: a sparkling pool with a large pavered deck is perfect for entertaining or or relaxing. Brand new dual-pane windows throughout keep the home energy-efficient and quiet, while the large dining room and attached family room make this a fantastic space for gatherings. This home truly has it alldon't miss out on this unique opportunity!

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5041 E Peak View Road Cave Creek, AZ 85331

$650,000

4 Beds

2.5 Baths

2,455 SqFt

Status Active Under Contract

MLS # 6773541

Property Type Single Family Residence

Price Type --

This spacious 4 bedroom home with a large loft/bonus room is located in the wonderful Tatum Ranch community. The home has been recently upgraded with luxury vinyl floors and new baseboards on the main level and new carpet on the upper level. Interior was recently painted. The large kitchen has cherry cabinets, slab granite counters and stainless appliances including a new dishwasher. A large covered patio with paver floor leads to the gorgous fenced pool with newly resurfaced kool deck, new tiles, water filler and new pool motor. New epoxy floor in garage. Roof replaced in 2020. This is a truly move in ready home in a fabulous location near award winning schools, outstanding shopping & dining venues and great golf courses.

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4175 S Marisol Lane Gilbert, AZ 85297

$650,000

4 Beds

2 Baths

2,213 SqFt

Status Active

MLS # 6786439

Property Type Single Family Residence

Price Type --

Beautiful single-level 4 bedroom 2 bath home on a generous 11,000+ sq. ft. corner lot in the desirable Coronado Ranch community. This home radiates pride of ownership with its remodeled bathrooms, updated flooring, and an open kitchen featuring sleek quartz countertops. Move-in ready! This home offers a split floor plan, high ceilings, and a 3-car garage. The expansive backyard is perfect for families and entertaining, with a covered patio and RV gate for easy access. Ideally located in Gilbert, close to top-rated schools, parks, and shopping.

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822 W Dust Storm Road Huachuca City, AZ 85616

$650,000

3 Beds

3 Baths

3,390 SqFt

Status Active

MLS # 6787559

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat nestled amidst stunning panoramic views in Huachua City! This home was custom built using ICF block walls for energy efficiency and durability. This energy efficient home naturally stays cool in the summer months, reducing the need for AC and lowers energy bills. The main home features a split floor plan with 3 bdrms, 3 bath, open kitchen with a breakfast nook. You will also find a 1200 sq ft Casita that includes a living space with washer/dryer hook up, and a workshop. New paint and stain on the front patio, updated May 2024. This property has over 9 acres, FULLY fenced in, an orchard area, RV facilities. Property backs up to BLM land.

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4098 E Rakestraw Lane Gilbert, AZ 85298

$650,000

2 Beds

2 Baths

2,156 SqFt

Status Active

MLS # 6784215

Property Type Single Family Residence

Price Type --

Move-in ready ''Sundance'' model home with open floor plan, located on a corner, N/S facing lot in the 55 plus community of Trilogy at Power Ranch. The home features 2 bedrooms and den, great room, and large kitchen with a huge morning room overlooking the courtyard with French doors and retractable screens. As you enter the home you will notice tile flooring throughout, with new carpet in the bedrooms and den. The home has shutters throughout, just recently painted interior, and exterior last year. The master bedroom has an exit door to the patio and backyard. You will enjoy the large bathroom with double sinks, garden tub, and separate walk-in shower, and walk-in closet. The backyard has artificial turf, paver extended patio, fenced yard, and fruit trees, lemon, lime, orange and tangelo. The 2 1/2 car garage has built-in cabinets, storage and epoxy flooring with no step in the garage. Come enjoy all this home has to offer plus all the amenities available such as golf, tennis, Bocce, pickle ball, pools, workout facility, clubs and so much more.

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3131 N Central Avenue Unit 3018 Phoenix, AZ 85012

$650,000

2 Beds

2 Baths

1,419 SqFt

Status Active

MLS # 6621435

Property Type Apartment

Price Type --

*Construction Completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom + den condo is one of the larger two bedroom floor plans and offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Spacious balcony to capture the amazing views while outside as well. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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16210 E Links Drive Fountain Hills, AZ 85268

$650,000

2 Beds

2 Baths

1,878 SqFt

Status Active

MLS # 6658826

Property Type Townhouse

Price Type --

Welcome to the prestigious private FireRock Country Club community. This perfect turn key unit with absolutely zero steps is located in the heart of the community. Brand new AC unit (2 months old), new hot water heater, and water softner along with new induction stove. Shades and blinds throughout this unit filled with natural light. Built in shelves in office along with recessed lighting throughout. Wood laminate flooring throughout and security door entry. Built in bar for entertaining your friends and family. Why live somewhere looking at a block wall? Live life with a view! This one will not last long.... its turn-key ready!

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5530 S 111th Street Mesa, AZ 85212

$650,000

4 Beds

3.5 Baths

2,715 SqFt

Status Active

MLS # 6685047

Property Type Single Family Residence

Price Type --

Welcome Home! Look no further, this beautiful property will check all your boxes! Oversized modern property situated on an large lot in Bella Via. Step inside this beautifully upgraded home and fall in love with its open spaces, including 4 bedrooms, 3.5 bathrooms, large living areas, dining room and a private study. Two master bedrooms( one downstairs and second at the upper level)perfectly designed for privacy. Large loft area, great for entertainment. Covered patio is perfect for outdoor dining and the built-in barbecue makes it easy to cook up a feast. Modern fireplace and movie projector are perfect for cozying up on relaxing nights.

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