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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8613 W Morten Avenue Glendale, AZ 85305

$650,000

5 Beds

4 Baths

4,252 SqFt

Status Active Under Contract

MLS # 6733555

Property Type Single Family Residence

Price Type --

Beautiful 5-bedroom, 4-bathroom, three-level home situated on a large lot in a fantastic community! Boasting a generous 4,252 sqft of living space, this residence offers ample room for everyone. The home features a den and a spacious basement with a full bath, providing versatile living options. Enjoy the airy and elegant ambiance created by vaulted 9+ flat ceilings and dual-pane windows. The family room includes a cozy gas fireplace, while the large rooms feature walk-in closets. The kitchen is equipped with multiple ovens, a pantry, and a kitchen island, complemented by formal dining, an eat-in kitchen, and a breakfast bar. Step outside to a covered patio overlooking a vast, beautifully landscaped yard with grass, shrubs, and trees. Additional highlights include a 3-car garage with an RV gate. Conveniently located near parks, Westgate, stadiums, and Tanger Outlets, this home also features owned solar panels to be paid in full at closing, ensuring energy efficiency and cost savings!

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10629 E Sebring Avenue Mesa, AZ 85212

$650,000

4 Beds

2.5 Baths

2,731 SqFt

Status Active Under Contract

MLS # 6735189

Property Type Single Family Residence

Price Type --

Now available! This turnkey home is the epitome of easy living. Inside, you'll find a spacious open layout with thoughtful upgrades, modern fixtures, and a neutral color scheme. The formal front living and dining areas open to the great room with a gourmet kitchen. A large slider off the family room leads to the backyard oasis, featuring a covered patio, sparkling pool, and easy-to-maintain turf and pavers. Upstairs, you'll find a large loft, a balcony with mountain views, and generously sized bedrooms perfect for relaxing. This home is conveniently located near many of the Eastmark community features, including a quick walk to Benton Park, with it's private splash-pad, and a short drive to the AZ-202 for easy commutes. See the full list of features!

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7409 E Pleasant Run Scottsdale, AZ 85258

$650,000

3 Beds

2.5 Baths

2,688 SqFt

Status Active Under Contract

MLS # 6735895

Property Type Single Family Residence

Price Type --

Discover your perfect gem! This townhome in the desirable McCormick Ranch community, ideal for investors and offered as a short sale. This home boasts a rare main-floor master suite, large windows that flood the space with natural light, and a private patio for serene outdoor living. With only one shared wall, this corner lot offers extra privacy and easy access to the lush greenbelt. The spacious upstairs loft and two additional bedrooms provide flexible living areas. Located in the Pleasant Run subdivision, you'll enjoy top-rated schools, shopping, dining, and recreation nearby. This property is ready for your personal touches to transform it into your dream residence. Don't miss this incredible opportunity at an unbeatable price!

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4801 E Peak View Road Cave Creek, AZ 85331

$650,000

3 Beds

2 Baths

1,987 SqFt

Status Active Under Contract

MLS # 6761544

Property Type Single Family Residence

Price Type --

Spacious corner lot with breathtaking mountain views! This expansive 3-bedroom, 2-bath residence offers a large Great Room, perfect for gathering and entertaining, and features two fireplaces — one in the cozy family room and another firepit outdoor for those starlit evenings. The bright and airy atmosphere enhances the open feel of the home, while the split primary suite provides privacy and a luxurious full bath. Enjoy the convenience of a 3-car garage, RV gate and a storage shed. The beautifully fenced backyard is an entertainer's paradise, complete with a covered patio and a private play pool. With a generous 18,654 sqft lot, your backyard is awaiting your personal touch. This property offers endless possibilities to create your perfect outdoor oasis.

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12641 N 18th Place Phoenix, AZ 85022

$650,000

3 Beds

2.5 Baths

1,778 SqFt

Status Active Under Contract

MLS # 6764990

Property Type Single Family Residence

Price Type --

Spectacular hillside home perfectly situated on one of the best view lots in the Gated community of Sweetwater Vistas. From the moment you walk in the home you are greeted by the City light views of Downtown Phoenix, Scottsdale, PV, all the way up to Cave Creek/Carefree plus Four Peaks, McDowell Mountains, and countless other mountain peak views. Thoughtful great room floor plan that maximizes the view corridor while providing functional living with the primary bedroom on the main level. The kitchen has been tastefully remodeled with stunning white quartz countertops and backsplash, all new GE appliances, on trend gold faucet and cabinet hardware. The great room seamlessly transitions to the back patio where you can really appreciate everything the view has to offer with stunning 180 degree views. Brand new flooring throughout, hard surfaces are a waterproof Luxury Vinyl Plank and DreamWeaver Carpet. Large primary suite features stunning views, remodeled bathroom with separate shower and soaking tub plus generous walk-in closet. Conveniently located next to countless outdoor activities and restaurants, easy access to FWY and HWY 51, 101, and 17.

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6822 E Portia Street Mesa, AZ 85207

$650,000

4 Beds

3 Baths

2,475 SqFt

Status Active Under Contract

MLS # 6753509

Property Type Single Family Residence

Price Type --

Located in the sought-after Las Sendas Community, this corner-lot home offers unparalleled privacy with only one neighbor, 4 spacious bedrooms & 3 modern baths. Enjoy breathtaking views of Red Mountain & easy access to Usery & Salt River natural areas, teeming w/ wildlife & stunning Sonoran desert landscaping. The heart of the home - the kitchen, is a highlight with it's 2024 appliances including a refrigerator, dishwasher, range & microwave. Enhanced w/ modern sink faucets, the space is both functional & stylish. Adjacent to the kitchen, the open layout seamlessly connects to the living areas, featuring a cozy fireplace & ceiling fans for added comfort. The home also boasts recent upgrades like engineered hardwood floors, carpet & an R/O system, providing a blend of luxury & convenience. Experience the serene desert lifestyle w/ beautiful sunrises & sunsets from your balcony. Conveniently walk to Las Sendas Elementary, parks, a splash pad & a community pool. This residence offers a perfect balance of tranquility & accessibility.

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3741 E Catalina Drive Phoenix, AZ 85018

$650,000

3 Beds

3 Baths

2,134 SqFt

Status Active

MLS # 6737385

Property Type Townhouse

Price Type --

END UNIT I PREMIUM LOT I 3 bedroom + Den, 2.5-bath in Arcadia Lite! This contemporary home is situated at the end of a quiet cul-de-sac within a gated featuring a community pool! Enter into a spacious layout featuring 10' ceilings on both levels, modern kitchen with 8' indigo island, granite countertops, ample cabinet space, walk in pantry, + Frigidaire Gallery matching appliance package! Main level offers a den/flex space, powder room, and open living space. 2nd level opens to a flex/loft space, laundry, primary + 2 secondary bedrooms, 2 full baths. Sliding glass to back patio w/paved seating space + synthetic grass are perfect for entertaining. End unit offers extra privacy and no neighbors to the East! EV charging station included!

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5386 S Mariposa Drive Gilbert, AZ 85298

$650,000

4 Beds

3 Baths

2,643 SqFt

Status Active Under Contract

MLS # 6762642

Property Type Single Family Residence

Price Type --

Beautiful SHEA home in the highly desirable community of The Bridges at Gilbert. The Reflection is a flexible 2-story plan w/ 4 bedrooms, 3 full baths and a loft. Flex space between the foyer and kitchen can be a formal living room or office. Downstairs bedroom complete with full bathroom. Upstairs you will find a spacious master, 2 additional bedrooms, a den, and loft. The kitchen is gorgeous with expresso cabinets, stainless steel appliances, and an oversized granite island. Premium lot includes a 3 car garage with no homes behind you, enjoy the beautiful sunsets from your covered patio. Near Gilbert Regional Park!

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16037 W Orangewood Avenue Litchfield Park, AZ 85340

$650,000

5 Beds

2 Baths

2,016 SqFt

Status Active Under Contract

MLS # 6774268

Property Type Manufactured Home

Price Type --

Charming Farmhouse Retreat on 1+ Acre This beautifully remodeled farmhouse features 5 spacious bedrooms and 2 baths, including a master bathroom with an upgraded walk-in shower with a rainfall showerhead, a jetted tub, and wall jets for a luxurious experience. The master bedroom also includes its own private mini-split AC and heater for optimal comfort. Enjoy brand new ceiling fans throughout the home, enhancing airflow and efficiency. The fully fenced property features a five-stall barn equipped with electricity and water, ideal for equestrian enthusiasts. Additional amenities include brand new AC and appliances, front and back porches equipped with misters, and an above-ground pool with a deck. The workshop also has electricity, along with a large chicken coop and a tack shed. The irrigated land is adorned with mature fruit trees and pines, enhancing the property's appeal. Experience country living with modern amenities!

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5222 W Buckskin Trail Phoenix, AZ 85083

$650,000

4 Beds

2 Baths

2,294 SqFt

Status Active

MLS # 6772837

Property Type Single Family Residence

Price Type --

Stunning 4BR/2BA home in STETSON VALLEY! You will be impressed the moment you walk through the front door. Spacious formal living /dining room, kitchen includes granite countertops, SS appliances , Maple cabinets, and large island. Kitchen is open to large family room which is perfect for entertaining. Neutral colors, plank tile flooring throughout home, including the 4 spacious bedrooms. Extended 2 -car garage w/cabineets. Covered patio, firepit with cozy seating, mountain views & mature landscaping. Excellent schools and close to everything.

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18065 W Wolf Street Goodyear, AZ 85395

$650,000

4 Beds

2.5 Baths

2,343 SqFt

Status Active

MLS # 6776765

Property Type Single Family Residence

Price Type --

Discover this practically new residence nestled on oversized corner lot, offering unparalleled upgrades. Modern Open Floor Plan to embrace contemporary living. Stylish touches & conveniences that make everyday life a breeze. Stunning kitchen features oversized island, ideal for meal prep & social gatherings.Seamless Indoor/Outdoor Living to your backyard oasis including NEW California Salt pool & Baja step. Relax on the massive travertine deck enjoying the lush turf—all with minimal upkeep! Dine alfresco in the inviting patio space soaking in the breathtaking vistas of the White Tank Mountains. 3rd car space & 12ft gate for RV/boat, providing ample room & flexibility for your active lifestyle. This exceptional home combines modern luxury with the peace of mind of gated community living! UPGRADES & FEATURES: -Front yard white marble rock with double river stream -3rd car driveway paved 12x37 in front of gate -Garage floor epoxy flooring + side walls of foundation, installed by V.I.P smart storage -Garage cabinets - floor to ceiling with a built in workbench with built in peg board and V.I.P smart storage installation -Hanging roof rack 8x4 V.I.P smart storage, Wall shelves around perimeter of garage -Lift master garage opener upgrade at time of home purchase -Upgraded to a 12 ft RV gate -16x51 reinforced RV slab concrete behind RV gate -50 AMP plug in for RV -Inner exterior brick wall perimeter painted -White sensor spotlights perimeter of home -90% U.V reflective black window screens with upgraded strength cross bars by Desert sunscreens -Upgraded heavy duty slider with the fixed panel -Backyard premium white rock landscape fabric under all rock areas -Custom pendant color matched light poles perimeter of backyard -Top of the line synthetic grass 108oz/face weight, travertine border surrounding grass -California pools saltwater pool with baja step and travertine deck -Custom pool pump cage color matched -2 extra water spouts in backyard -Travertine back patio -Premium interior eggshell whole house one color paint, in garage semi gloss white -3 brand new whirlpool Memoirs toilets - Premium new dishwasher -New premium whirlpool fridge -New Allen Roth 30inch vanity with sink in laundry room -Upgraded Dual wall cabinets in laundry room -Upgraded white gourmet kitchen -Highest exterior elevation

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6802 E Beverly Lane Scottsdale, AZ 85254

$650,000

3 Beds

2 Baths

1,428 SqFt

Status Active Under Contract

MLS # 6742060

Property Type Single Family Residence

Price Type --

Imagine living just minutes from Scottsdale Quarter, where you can enjoy some of the valley's best restaurants, world-renowned golf courses, and premier shopping. Welcome to your dream home—a perfect blend of classic charm and modern comforts, all with the freedom of no HOA restrictions. Nestled on a desirable corner lot, the property welcomes you with easy-care turf, a mature shade tree, a two-car garage, and a charming front porch. Step inside to a bright, open floor plan where natural light pours in through vaulted ceilings. A serene color palette, recessed lighting, modern fixtures, and wood-plank tile flooring create an elegant ambiance, while a stylish wooden panel wall fireplace adds warmth and sophistication. The gourmet kitchen offers ample functionality and style, featuring quartz and butcher block countertops, a chic tile backsplash, BRAND NEW white cabinetry, and a central island with a breakfast bar. The primary suite is a sanctuary, complete with a walk-in closet, a spa-inspired ensuite with dual sinks, a BRAND NEW vanity with abundant storage, a walk-in glass shower, and direct backyard access. Outdoor features include a heated pool for year-round enjoyment, and recent updates provide peace of mind with a water heater and windows replaced in 2020, and a roof, HVAC, and pool equipment all less than 10 years old. Enjoy low-maintenance living in a home that truly shines. Schedule your showing today this Scottsdale gem won't last!

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