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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1145 N 293rd Avenue Buckeye, AZ 85396

$629,000

4 Beds

2 Baths

2,067 SqFt

Status Active

MLS # 6758593

Property Type Single Family Residence

Price Type --

Discover the ultimate in custom home, unencumbered by HOA fees or regulations. This stunning new build ranch-style residence boasts 2,067 square feet of living space on a serene 1.2-acre lot. The sophisticated open-concept living area features stylish paneled walls, vaulted ceilings, and an abundance of natural light and recessed illumination. A sleek white kitchen, complemented by a spacious island, provides an ideal setting for culinary pursuits. The serene master suite offers a tranquil retreat, complete with a spacious en-suite bathroom and ample closet space. Three additional bedrooms provide versatility for family, guests, or a home office. The expansive, backyard, boasts block fencing valued at over $60,000, and dual RV gates, perfect for accommodating large vehicles or horses.

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6735 N 10th Street Phoenix, AZ 85014

$629,000

3 Beds

2 Baths

1,703 SqFt

Status Active

MLS # 6763810

Property Type Single Family Residence

Price Type --

Vintage meets contemporary in this delightful home in the heart of north central Phoenix. Remodeled in 2019 to add new A/C, electrical panel, and all new kitchen, complete with stainless steel appliances and soft close modern cabinetry. Tons of additional upgrades added over the last 3 years, including new epoxy sewer lining, lighting/fans, roman shades, paint, baseboards, contemporary black door hardware, storage shed, block fence, side gate & front door. Abundant natural light throughout the home through efficient dual-pane windows. Huge great room with vaulted ceilings and built in fireplace. Dreamy primary suite has 2 closets including a spacious luxury walk-in. Mature fruit trees grace the private, quiet back yard, with the perfect patio for entertaining. Top rated schools.

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535 S Barnwood Trail Munds Park, AZ 86017

$629,000

3 Beds

2 Baths

1,824 SqFt

Status Active

MLS # 6764043

Property Type Single Family Residence

Price Type --

Your private, dream home on large lot in the cool pines of Munds Park awaits your arrival! Rather year-round or seasonal, this spacious 3bed, 2 bath home has a/c, wood burning fireplace, 10x16 shed, carport, metal roof, upgraded flooring, bathrooms, ceiling fans, lighting, etc. Kitchen has plenty of cabinet and counter space, as well as an island. Enjoy relaxing on the large custom deck that was newly added on, with NO neighbor to the north! The yard is fenced in and perfect for your pets. No HOA. Come and be a part of this special, desirable Munds Park community! You will be walking distance to the well-known Pinewood Country Club, close to the national forest, lake, hiking/ biking trails, tennis and pickleball courts, park, restaurants, convenient store, and more. Munds Park is only 17 miles South of Flagstaff and a 2-hour drive from Phoenix to escape the heat. Come see your new home in our neck of the woods!

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2078 E Donner Drive Tempe, AZ 85282

$629,000

4 Beds

2 Baths

2,005 SqFt

Status Active

MLS # 6779043

Property Type Single Family Residence

Price Type --

Beautiful Corner Lot Home in the Heart of Tempe with Private Pool! No HOA! Welcome to this stunning 4-bedroom, 2-bathroom home, perfectly situated on a spacious corner lot in the heart of Tempe. With its beautiful open floor plan and a large private pool, this home is an entertainer's dream. Inside, you'll find a modern kitchen with an inviting living area, and an enclosed laundry room for added convenience. Brand NEW AC and Brand New roof (2024). Enjoy the added benefit of no HOA! Located just minutes from ASU, major freeways, and an array of restaurants and shopping, this home offers the perfect blend of comfort and convenience. BOOK a tour today.

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4318 E Smokehouse Trail Cave Creek, AZ 85331

$629,000

4 Beds

3 Baths

2,412 SqFt

Status Active

MLS # 6721909

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this charming property that combines modern amenities with elegant charm. Recently updated with fresh interior paint and new flooring in parts, the neutral color scheme creates a calming atmosphere for all who enter. The kitchen is a cook's delight, featuring an inviting island and stainless steel appliances. Relax or entertain on the covered patio or enjoy privacy in the fenced backyard. This sought-after addition provides ample space for daily routines. From indoor comfort to outdoor luxuries, this property blends modern comfort with classic charm. If you seek a meticulously maintained home with exceptional attention to detail, don't miss the chance to make this beautifully updated property yours. It's the perfect plac

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795 E Reindeer Drive Munds Park, AZ 86017

$629,000

3 Beds

2 Baths

1,305 SqFt

Status Active

MLS # 6764913

Property Type Single Family Residence

Price Type --

Imagine your electric bill being 1.09. Yes, it's true. This home includes a 65,000-dollar Tesla solar electric power system! It powers the like new, 220-volt hot tub and the rest of the entire home! Beautiful year-round home on a quiet street in a desirable area of Munds Park, lots of mature trees, 2 car garage and a separate, new 1 car garage, wood/pellet burning stove, tongue and groove wood throughout, stainless appliances, new refrigerator, new trex front deck, covered deck in back with fenced yard, large shed and new landscape gravel, newer roof (2020) new exterior paint front (2024) updated laminate flooring, updated bathrooms, kitchen, doors, lighting, fixtures, walk-in pantry, newer electrical panel, circuits and furnace, new mini-split in loft, newly painted deck (9-2024) Vaulted ceilings, This home can park 7 cars total, no HOA! Come and be a part of our wonderful Munds Park community! You will be walking distance to the well-known Pinewood Country Club and very close to the national forest, lake, hiking/ biking trails, tennis and pickleball courts, park, restaurants, convenient store, and more. Munds Park is only 17 miles South of Flagstaff and a 2-hour drive from Phoenix to escape the heat. Come see your new home in our neck of the woods!

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1834 N Mitchell Street Phoenix, AZ 85006

$629,000

3 Beds

2 Baths

1,218 SqFt

Status Active

MLS # 6775620

Property Type Single Family Residence

Price Type --

This historic bungalow is truly as good as it gets, and on one of the best streets in Coronado Historic District. The original 1937 bungalow has been carefully preserved, but just about all the major systems have been recently upgraded to modern (over $120K). The house is cozy, but flows bigger with the original two bedrooms and bath on the front side of the house, and the split addition of the master suite on the rear. The front room features updated floors (2024), fireplace and gorgeous light. Modern kitchen features custom cabinets, exposed brick wall and all new appliances. Completely remodeled master suite. OWNED SOLAR!!! Multiple hospitals close by as well as close to freeways, Downtown Phx and much more.

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1700 E Lakeside Drive Unit 65 Gilbert, AZ 85234

$629,000

2 Beds

2 Baths

1,777 SqFt

Status Active

MLS # 6761143

Property Type Townhouse

Price Type --

Beautifully situated in Breckenridge Bay sits this meticulously appointed single-level townhouse! Upon entry, enjoy ample natural lighting, generous-sized open living and dining areas, vaulted ceilings & warm color tones throughout. The gorgeous dark wood floors contrast perfectly with bright silver-gray-colored walls. The vibrant Kitchen boasts granite tops and stainless steel appliances all accented with natural white cabinetry. Both bedrooms have newer LVT flooring and the main bath has been impressively remodeled to 5-Star Resort standards! Ideally located just steps away from the clubhouse, full amenities, and the lakes.... living in Val Vista Lakes is resort Lifestyle Living at its best!

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2066 S Martingale Road Gilbert, AZ 85295

$628,900

3 Beds

2.5 Baths

2,708 SqFt

Status Active

MLS # 6779585

Property Type Single Family Residence

Price Type --

This two-story home has OWNED SOLAR and a spacious design, offering 3 bedrooms, 2.5 bathrooms, a cozy den, and an airy loft area. Inside, you'll find an large kitchen designed for both cooking and entertaining, complete with ample counter space, gas stove, and an oversized pantry ideal for all your storage needs. The large primary bedroom serves as a peaceful retreat and connects to an en-suite bathroom with dual sinks and a walk-in closet. The additional bedrooms are well-sized, perfect for family or guests. The den offers a flexible space perfect for a home office, library, or playroom and the upstairs loft provides a bonus area for lounging, a second family room, or a study zone. Exterior was painted in 2022. Backyard has new pavers and easy to maintain turf.

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31510 N 24th Drive Phoenix, AZ 85085

$628,000

3 Beds

2.5 Baths

2,026 SqFt

Status Active

MLS # 6570906

Property Type Single Family Residence

Price Type --

Beautiful Modern Appeal. Multiple Upgrades. High ceilings and Great Lighting make this home feel expansive. Gourmet Kitchen with gas range and hood. Oversized Quartz Waterfall countertop. GE Profile Appliances. Electric blinds, large farmhouse sink, water softener. 2-Large Screen Wall Mounted TV's included. Nest thermostats. Low maintenance backyard with Gas lined Fire Table, Gas Grill, Artificial turf and Tiled patio. Lights and Irrigation on timers. Energy efficient rated home. Community Pool and BBQ. There is also a dog park conveniently located close to this home. Excellent Location, close to shopping and restaurants! Great Investment Opportunity!

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6895 N 79th Place Scottsdale, AZ 85250

$628,000

2 Beds

2 Baths

1,052 SqFt

Status Active

MLS # 6781366

Property Type Townhouse

Price Type --

Welcome to CAMELVIEW GREENS, an exclusive townhome community ideally located in the heart of Scottsdale. This meticulously maintained, TURNKEY residence features a well-appointed 2-bedroom, 2-bath split floor plan. REMODELED in 2020. Upgrades include premium quartz countertops, elegant wood-look vinyl flooring, multi-functional kitchen shutters, glide-out drawers, custom shelves, updated hardware, SS appliances with Bosch smart dishwasher and wine fridge. NEST and Ring. Soaring ceilings, and recessed lighting throughout with upgraded, modern ceiling fans. The low-maintenance backyard is by design with pavers, turf, rock, and drip system for ease of care. The community offers a gated entrance, beautifully landscaped grounds, and thoughtfully designed common areas, as well as a heated pool and spa. Situated just minutes from Old Town Scottsdale, Fashion Square, Camelback Mountain, Spring Training fields, Talking Stick Resort, walking and biking trails, golf courses, fine dining, and a host of other amenities, this residence presents an exceptional opportunity for upscale living. Don't miss the chance to own this MOVE-IN-READY home in one of Scottsdale's most sought-after communities.

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13300 W Red Hawk Drive Peoria, AZ 85383

$628,000

2 Beds

2 Baths

1,926 SqFt

Status Active Under Contract

MLS # 6782879

Property Type Single Family Residence

Price Type --

Light and bright with neutral color pallet throughout, this model-like home filled with upgrades and ready for immediate move-in is the trophy property of Trilogy. When it's all about the details, there's no overlooking the clean lines, contemporary finishes and sophisticated style present. Vertical plank porcelain tiles are carried throughout leading past the guest quarters, home office, and into the great room and gourmet kitchen. Here, you'll find a gas cooktop, built-in stainless steel appliance package, wine chiller, granite countertops paired with white cabinetry providing plenty of storage. A pantry and optional 'SMART SPACE' are just around the corner. Included with the high-end washer and dryer, sink, upper and lower cabinetry there's a workstation here too. Crafting, hobbies, 2nd office are all possible. A natural flow to the open floor plan spotlights the 90 degree angle WALL OF GLASS connecting two rooms where the gas fireplace of the exterior becomes the focal point. This award-winning Shea Home faces south allowing the warmth of the sun to gently illuminate the yard in a gentle even distribution year round. The two-car garage has been extended 4 feet and can accommodate larger vehicles or more room for storage. Take a look at the areal shots of the neighborhood. There are trails and walking paths just outside your door. The vibrant community of Trilogy at Vistancia is alive with community events, golf, tennis, pickle-ball, crafting, fitness classes, gourmet eateries... there's endless options to partake in. Whether you're looking for your forever home or respite from the cold, this picture-perfect property provides style, convenience and practicality.

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