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 97th 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.

Whats 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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15221 N Clubgate Drive Unit 1031 Scottsdale, AZ 85254

$629,500
2 Beds
2 Baths
1,401 SqFt
Status Active Under Contract
MLS # 6676920
Property Type Apartment
Price Type --
This meticulously designed 2-bedroom condo in Kierland Greens offers a blend of elegance and comfort, from the captivating wood-like tiled floors to the luxurious primary suite. This home is located on the first level with NO STEPS! The unit was just recently painted inside, with new light fixtures as well as new carpet in the bedrooms. This bottom floor corner unit epitomizes luxury living with its attention to detail and sophisticated design elements, making it a desirable space for relaxation and entertaining. The convenient location offers access to a plethora of dining and shopping options, situated near the Kierland Golf Club, Kierland Commons, and Scottsdale Quarter, making it an ideal choice for those seeking a vibrant and dynamic lifestyle.

201 S 6th Place Show Low, AZ 85901

$629,000
6 Beds
4 Baths
4,301 SqFt
Status Active
MLS # 6770835
Property Type Single Family Residence
Price Type --
Make this spacious home your own. The basement has a full kitchen,laundry, bedroom and garage access. Located in the heart of Show Low with many amenities nearby! Enjoy shopping, dining, City Parks, movie theater, BMX, skateboard park and city pickle ball courts just to name a few. This beautiful home would be a great year round home or vacation rental. This home is priced to sell and is Sold As Is. Home is currently used as VRBO. A new metal roof in 2018. 2019 - Re-routing main plumbing lines to accommodate larger groups. (An RV drain can easily be added to this new line) lighting fixtures, HVAC for main floor. In 2021 a new sump pump was installed in basement for kitchen sink. There are 2 water heaters in the home, in 2022 a new one was installed on the main floor. A new metal roof in 2018. 2019 - Re-routing main plumbing lines to accommodate larger groups. (An RV drain can easily be added to this new line) lighting fixtures, HVAC for main floor. In 2021 a new sump pump was installed in basement for kitchen sink. There are 2 water heaters in the home, in 2022 a new one was installed on the main floor.

1350 E Gail Court Gilbert, AZ 85296

$629,000
4 Beds
3 Baths
2,237 SqFt
Status Active
MLS # 6775994
Property Type Single Family Residence
Price Type --
Move-in ready with countless upgrades including new AC, windows and can lighting! This modern single-family home boasts an open floor plan perfect for gatherings. The chef's kitchen showcases quartz countertops, shaker cabinets, and new appliances that brings both charm and modern appeal. Upstairs, a split floor plan separates the spacious secondary rooms from the primary suite. All bathrooms are upgraded with quartz countertops and chic laminate flooring. The backyard is an entertainer's dream, complete with a gazebo strung with lights, turf, and river rock. Every detail has been updated within two years! This home is ready to meet all your needs. Don't miss this opportunity to experience a truly exceptional property — it's a must-see!

10011 E Lakeview Circle Mesa, AZ 85209

$629,000
3 Beds
2.5 Baths
2,960 SqFt
Status Active
MLS # 6785316
Property Type Single Family Residence
Price Type --
GREAT COMMUNITY VILLAGES OF EASTRIDGE! Original owner has pride in ownership of this one. Well maintained, move in ready home with a flex floor plan, cul-de-sac corner lot 4 bedrooms, upper loft, & lower-level den/office, guest suite alongside the master. Sparkling play pool & large yard, a 3-car extended garage, double RV gate. The open kitchen with an island bar, walk-in pantry flow into the family room for easy entertainment, with wood laminate floors on the lower level. Dual A/C units 2 years old. The interior has been freshly painted, & the exterior was recently painted as well. Other features include a large covered patio, backyard fire pit, 2 storage sheds, garage cabinetry with a workbench & storage shelving. Basketball sports court, parks, playgrounds, & quick access to freeways

1371 N Alison Way Chandler, AZ 85226

$629,000
3 Beds
3 Baths
2,037 SqFt
Status Active Under Contract
MLS # 6754121
Property Type Single Family Residence
Price Type --
* CHANDLER STUNNER * PREMIUM CORNER LOT * FORMER MODEL * ACROSS FROM COMMUNITY POOL * LIKE LIVING IN A RESORT * LOFT-STYLE HOME * QUARTZ COUNTERS * STAINLESS APPLIANCES * UPGRADED CABINETS * OVERSIZED SLIDER * WRAPAROUND BALCONY * UPGRADED RAILINGS * LOFT WITH VIEWS * MASTER SHOWER WITH TILE SURROUNDS * CASITA WITH HALF BATH * VIEWS OF SOUTH MOUNTAIN * GET IT BEFORE ITS GONE! *

8215 W Gardenia Avenue Glendale, AZ 85303

$629,000
4 Beds
2 Baths
2,643 SqFt
Status Active Under Contract
MLS # 6761936
Property Type Single Family Residence
Price Type --
Welcome to the home that checks every box! This stunning residence offers a spacious split floor plan with 3 bedrooms, a versatile den, and a large bonus room—ideal for work, play, or relaxation. You'll have plenty of parking for all your vehicles and toys, RV Parking plus a generous 3-car garage for additional storage. Inside, the open layout connects the gourmet kitchen, with premium appliances and ample counter space, to the sunlit great room and living room. Step outside to your own resort-style oasis featuring a private pool, patio, and beautifully landscaped yard—perfect for entertaining or unwinding. With owned solar, enjoy energy savings year-round!

14104 W Cottontail Lane Surprise, AZ 85387

$629,000
3 Beds
2.5 Baths
2,444 SqFt
Status Active Under Contract
MLS # 6779366
Property Type Single Family Residence
Price Type --
Come explore this beautiful 3 bed 2 1/2 bath cul de sac home with a massive 17, 082 sq. foot lot to build your dream yard. This home has over $100k in upgrades including iron front door, large sliding glass doors in great room, extended covered patio, quartz contertops in kitchen and bathrooms, custom backsplash in kitchen, reverse osmosis water filtration for drinking water, gas line for outdoor kitchen, upgraded kitchen cabinets, additional cabinets throughout home, GE gourmet gas cooktop, additional electrical outlets added inside and outside the home, under cabinet lighting in kitchen, surround sound, free standing tub in primary bathroom and custom tile shower with rainshower head, additional insulation in ceiling, garage and plumbing walls, custom tile, new carpet and paint.

5040 E Boulder Canyon Drive Cornville, AZ 86325

$629,000
3 Beds
2 Baths
2,280 SqFt
Status Active
MLS # 6786483
Property Type Single Family Residence
Price Type --
Stunning Modern Retreat in a Northern Arizona Golf Course Community! Welcome to your dream home in the gated community of Amante at Verde Santa Fe, where luxury meets comfort in the heart of the Verde Valley. This meticulously upgraded residence, built in 2020 and originally the builder's home, is designed with a focus on elegant detail and functionality, offering a bright and spacious sanctuary that perfectly balances style and practicality. As you step through the grand foyer, you'll be greeted by soaring ceilings and an abundance of natural light that flows throughout the open floor plan. The home is a 3 bedroom, 2 bath with 2,280 square feet. The design features high ceilings, recessed lighting, designer interior paint with a cosmopolitan open floor plan. The heart of the home boasts a cozy fireplace creating a warm and inviting focal point for gatherings. The kitchen is perfect for culinary enthusiasts! This chef-inspired kitchen is equipped with a sleek 5-burner gas stove with modern hood and high-end smart appliances. Enjoy the convenience of pull-out shelves in the maple self-closing cabinetry, complemented by long lasting Corian countertops. The breakfast bar with hanging lights provides a casual dining option along with an oversized nook area. The kitchen floors are luxury vinyl plank flooring adding both style and durability. Retreat to the large and private primary suite, a true oasis featuring a spacious walk-in closet and a private entrance to the expansive laundry room, complete with ample countertop space, cabinets, and a convenient water basin sink. The en-suite bathroom is a true masterpiece, boasting dual vanities, a large tile walk-in shower with a built-in seat, and a Toto Neorest toilet for the ultimate in comfort and convenience. Generously sized guest bedrooms offer flexibility, with the third bedroom featuring double doors, making it ideal for use as a den or office. The guest bedroom is equally impressive, with a large and long deep closet. The guest bathroom showcases a wide soaking tub and thoughtful design elements, including self-closing vanity drawers. Additional highlights of this sophisticated home include deep linen and hall closets, designer interior paint throughout, and plush carpeting in the bedrooms. The home's orientation ensures a welcoming North-facing front and a sunlit South-facing backyard, perfect for outdoor enjoyment. The property is equipped with gutters on all four sides, a rain barrel in back and a new irrigation system installed for the newly planted flourishing trees and plants. As a resident of Amante, you'll have access to a membership offering a luxurious clubhouse, refreshing pool, and relaxing spa, all while being just 20 minutes away from the breathtaking landscapes of Sedona. The entire home has an Aquasana water filtration system, a tankless hot water system, and all appliances are includedsuch as a nearly new front-loading washer and dryer, this home is truly move-in ready. Don't miss your chance to own this contemporary and sophisticated residence in a serene golf course community, complete with an attached spacious two-car garage and a durable tile roof. Clean air and stunning views await. Experience the lifestyle you've always dreamed of.

2360 N 165th Drive Goodyear, AZ 85395

$629,000
2 Beds
2.5 Baths
2,066 SqFt
Status Active
MLS # 6780641
Property Type Single Family Residence
Price Type --
Expanded Cortez Model with 2.5 Bathrooms and two bedrooms plus Den/Office. Home has been impeccably maintained. Home is being sold with all furnishings in the home. Just bring your clothes and toothbrush. The screened in porch is great for entertaining and comes complete with BBQ grill and patio furnishings. Two car expanded garage is roomy with custom shelving and did I mention it also has a golf cart garage. Large fully fenced backyard for your furry friends.

3582 N 160th Avenue Goodyear, AZ 85395

$629,000
2 Beds
2 Baths
1,829 SqFt
Status Active
MLS # 6781415
Property Type Single Family Residence
Price Type --
LOCATION LOCATION LOCATION!! Sits on a very unique lot located in the highly sought after Tuscany side of Pebble Creek. This lovely and well cared for home sits on a very unique lot. Featuring 2 bedrooms plus a den, fresh interior 2 tone paint, UPDATED KITCHEN AND BATHS, granite counters throughout, custom plantation shutters, newly installed soft water system, 3 car garage with epoxy floor and built in cabinets, golf course views from the back AND front with neighbors on only one side!! PLUS, BRING US AN ACCEPTABLE OFFER AND WE'LL THROW IN THE GOLF CART, recently serviced with all new batteries!! MOTIVATED SELLERS BRING US AN OFFER!

16114 E Glenview Drive Fountain Hills, AZ 85268

$629,000
3 Beds
3.5 Baths
2,318 SqFt
Status Active
MLS # 6750440
Property Type Single Family Residence
Price Type --
SELLER OFFERING A 3-2-1 BUY DOWN This home boasts an excellent location, offering convenience and scenic beauty. With two spacious primary bedrooms, it provides comfort and privacy. The newly replaced roof and new AC system ensure energy efficiency, while the updated appliances add a modern touch. As the largest property in the neighborhood, the expansive backyard holds plenty of potential for customization or outdoor living. The stunning view of Four Peaks enhances the home's charm, and its proximity to shopping and the iconic fountain makes it ideal for relaxation and easy access to amenities.

368 S 172nd Drive Goodyear, AZ 85338

$629,000
5 Beds
4 Baths
4,019 SqFt
Status Active
MLS # 6754016
Property Type Single Family Residence
Price Type --
Discover plenty of space and comfort in this stunning 5-bedroom, 4-bathroom Canyon Trails home. It features a gourmet kitchen with stainless steel appliances and center island, perfect for any cook. Enjoy privacy in the attached guest casita with its own living room and entrance. PRE-PAID Solar panels offer eco-friendly living and lowered electric bills for years to come. The backyard is an oasis with a private pool, huge extended covered patio, and BBQ area, all overlooking the community green belt with no neighbors behind. Plus, enjoy community amenities like a recreation room, parks, and community pool.

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