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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15248 S 182nd Lane Goodyear, AZ 85338

$610,000

4 Beds

2.5 Baths

2,470 SqFt

Status Active

MLS # 6776986

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning 4-bedroom, 2.5-bath residence boasts a seamless open floor plan that perfectly blends modern elegance with everyday functionality. As you step inside, you'll be greeted by beautiful wood flooring that flows throughout the main living areas. The heart of the home is the expansive great room, featuring coffered ceilings and an entertainment center niche, ideal for movie nights or gatherings. The twelve-foot sliding glass doors invite natural light and offer breathtaking mountain views, while seamlessly connecting the indoor space to the outdoor oasis. The gourmet kitchen is a chef's delight, equipped with stainless steel appliances, spacious granite countertops, and a large kitchen island that serves as a perfect gathering spot. Adjacent to the kitchen, the dining area provides a warm atmosphere for family meals. You'll also appreciate the convenience of a walk-in pantry that leads directly to the two-car garage, making unloading groceries a breeze. An open office area allows for a productive workspace, perfect for remote work or study. Retreat to the master suite, filled with natural light from numerous windows, offering a tranquil escape. The master bath is a luxurious haven, featuring a drop tub, a separate walk-in shower, and a generous walk-in closet with direct access to the laundry room for added convenience. Step outside to your private backyard paradise, complete with a hot tub, fire pit, and built-in BBQ, ideal for entertaining under the stars. The two pergolas provide shaded areas for relaxation, while the easy-maintenance landscaping ensures you spend more time enjoying your space and less time on upkeep. This home perfectly balances style and comfort, creating an ideal sanctuary for both relaxation and entertaining. Don't miss the opportunity to make it yours!

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5060 S Las Mananitas Trail Gold Canyon, AZ 85118

$610,000

3 Beds

2 Baths

2,184 SqFt

Status Active

MLS # 6767301

Property Type Single Family Residence

Price Type --

Superstition foothills beauty combines amazing mountain views with a tastefully furnished home. The soaring ceilings and louvred shutters afford natural light as desired. The huge primary suite contains a sitting room, spacious vanity, walk in closet and glass shower + tub. Sophisticated, open kitchen hosts stainless appliances, newer large granite island and lovely cabinetry with pull outs all around. Yard includes a refreshing pool with built in table, water fall, pergola with seating. and a fire pit for chilly winter nights Natural habitat between neighbors and fencing enhances your privacy. A built in BBQ, fridge, wet sink & burner and citrus trees complete the back. A 3 car garage contains more storage cabinetry and a sealed floor.

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3940 S Velero Street Chandler, AZ 85286

$610,000

4 Beds

2 Baths

2,120 SqFt

Status Active

MLS # 6767814

Property Type Single Family Residence

Price Type --

Location, location, location! This spacious home has it all! Four bedrooms, 2 full bathrooms, formal living & dining rooms, family room, 3 car tandem garage and sparkling pool! This home has lots of natural light and an open, split bedroom floor plan. The kitchen has a kitchen island with breakfast bar and overlooks the family room with gas fireplace. The kitchen range is currently gas; however, it is wired for an electric stove. Inside laundry with cabinets is off kitchen area. The Primary bedroom has an en suite bathroom with separate shower & tub, dual sink vanity and large walk-in closet. The low maintenance backyard has a covered patio and play pool. Community offers lush, landscaped greenbelts, playground and is within a convenient Chandler neighborhood near Loop 202 and near major shopping and dining. This home is being sold by the original owners and is a must see!!!!

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22723 W Calle De Los Flores Drive Wittmann, AZ 85361

$610,000

4 Beds

2 Baths

2,194 SqFt

Status Active

MLS # 6769023

Property Type Single Family Residence

Price Type --

Experience luxury living in this custom-built Territorial home on a sprawling 1.2-acre lot, offering breathtaking mountain views. This highly upgraded gem boasts elegant maple cabinets, sleek granite countertops, and stylish tile flooring. Inside, the stunning wood vega poles add a touch of rustic charm, while expansive covered patios invite you to enjoy outdoor living at its finest. The home features a formal dining room and a spacious, open kitchen that flows seamlessly into the great room—perfect for entertaining. Retreat to the master suite, complete with a large soaking tub, double sinks, a generous walk-in closet, and split bedroom design for added privacy. With modern amenities like pre-wiring for security, satellite, and ceiling fans, plus an extended 3-car garage with extra storage, this property has everything you need. Best of all, there's no HOA, giving you the freedom to truly make this space your own. The 12x45 covered RV parking offers a fantastic opportunity for extra income during the winter months when the ropers are in town, or it can easily be transformed into horse facilities. This home is the perfect blend of luxury and versatility, designed to fit your lifestyle. Don't miss out on owning this desert oasis!

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13629 W San Miguel Avenue Litchfield Park, AZ 85340

$610,000

4 Beds

2 Baths

2,408 SqFt

Status Active

MLS # 6771095

Property Type Single Family Residence

Price Type --

This stunning 4-bedroom, 2-bath home in Litchfield Park is packed with modern upgrades and features a dream backyard! The family room has custom accents and a Bose surround sound system, connecting seamlessly to the dining area and updated kitchen with granite countertops, stainless steel appliances, and new cabinet fronts. The bonus room at the front can be used as a den, study, or formal dining space. Main bathroom custom barn door, an oversized shower, dual sinks, and a walk-in closet. Outside, the backyard oasis is perfect for year-round entertaining, featuring lush landscaping, an great covered patio with pavers, and a custom natural gas fire pit ideal for cool evenings. The Pebble Tec pool, complete with a natural rock waterfall, to complete the serene atmosphere.

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3055 N Red Mountain Unit 122 Mesa, AZ 85207

$610,000

3 Beds

2 Baths

1,587 SqFt

Status Active

MLS # 6778173

Property Type Single Family Residence

Price Type --

Convenience at its best! This 3-bedroom, 2-bathroom home is located in a peaceful, gated community. Perfect as a primary residence or investment property, this home is ideally situated just minutes from the 202 freeway, shopping, restaurants, Salt River, and Saguaro Lake. Inside, you'll find beautiful wood tile plank flooring, vaulted ceilings, large windows, and updated lighting throughout. The split primary bedroom includes a walk-in closet and full bath. The pass-through kitchen has white cabinetry, granite countertops, and a stylish tile backsplash. Refrigerator, washer, and dryer convey with the home. The private, low-maintenance backyard includes turf, a large paver patio, a watering system, and a covered patio, all backing up to a secluded lot with a wash behind for extra privacy!

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2501 E Mitchell Drive Phoenix, AZ 85016

$610,000

3 Beds

3 Baths

2,157 SqFt

Status Active

MLS # 6778953

Property Type Townhouse

Price Type --

Rare opportunity in Sutton Place, a private gated community brimming with historic charm and home to 47 Mediterranean-inspired townhomes. This north/south-facing end-unit townhome offers 3 bedrooms, 3 bathrooms, and 2,157 square feet of living space. Welcoming you with exceptional curb appeal, the front yard features desert landscaping and decorative tilework. Inside, a spacious main living room invites you with the warmth of oak wood flooring, leading to a formal dining room ideal for entertaining. The updated kitchen includes stainless steel appliances, quartz countertops, tiled backsplash, and custom maple cabinetry that combines both function and modern style. The primary bedroom, located on the main floor for ultimate convenience, offers direct access to the backyard. Upstairs, you'll find a recently remodeled bathroom and a third bedroom with its own private balcony. Enjoy worry-free living with major updates already completed: a new HVAC system (2020), upgraded electrical panel (2021), and a recently recoated roof (2024). Great Phoenix location - just minutes from Biltmore Fashion Park and Arcadia plus nearby freeways providing easy access to Sky Harbor and the rest of the Valley!

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18101 N Key Estrella Drive Surprise, AZ 85374

$610,000

3 Beds

3 Baths

2,200 SqFt

Status Active

MLS # 6777960

Property Type Single Family Residence

Price Type --

Welcome to this delightful residence on a coveted golf course lot! You're greeted by a 2-car garage, a tasteful desert landscape, and a welcoming courtyard. The appealing open layout has high ceilings, an earth-tone palette, plantation shutters, and tile flooring. The gourmet kitchen comes with tile counters with a matching backsplash, wood cabinetry with crown moulding, pendant/recessed lighting, SS appliances, and a two-tier peninsula with a breakfast bar. You'll also find a cozy den ideal for a workspace or lounge. The main bedroom showcases soft carpeting, a sitting nook, an ensuite with double sinks, and a walk-in closet. You'll also find a separate guest house for visiting loved ones. The backyard is complete with a covered patio and serene views of the golf course. Make it yours!

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2925 W Lynx Drive San Tan Valley, AZ 85144

$610,000

3 Beds

2.5 Baths

2,357 SqFt

Status Active

MLS # 6782690

Property Type Single Family Residence

Price Type --

Welcome to this beautiful, newer home in the desirable Promenade by Fulton Homes! This spacious 3-bedroom + office features an open floor plan, ideal for modern living. The kitchen is a standout with sleek finishes and ample storage, while the built-in fireplace adds warmth and charm to the living space. Enjoy the convenience of a built-in mudroom area, keeping your home organized. The 4-car tandem garage offers plenty of room for vehicles and storage. With no front yard neighbors, you'll enjoy added privacy. Community amenities include a pool, parks, volleyball, basketball, and pickle ball courts, plus you're close to hiking, shopping, and the new Pecan Lake Entertainment. This home offers the perfect balance of comfort and convenience!

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20750 N 87th Street Unit 2142 Scottsdale, AZ 85255

$610,000

2 Beds

2 Baths

1,356 SqFt

Status Active

MLS # 6785238

Property Type Apartment

Price Type --

Prestigious Encore at Grayhawk 2-bedroom, 2-bath with 2 car garage overlooking lush open space with mature trees. Beautiful cul-de-sac location in center of community. Great room floor plan with gas fireplace, open to kitchen with stainless appliances, gas range, granite countertops, spacious pantry and breakfast bar. Master suite has own balcony, large walk-in closet, double sink vanity, garden tub and shower. Private and tranquil on both balconies. Washer, dryer and all appliances included. 2 car garage directly below unit with direct access. Lightly lived in and in excellent condition. Close to community pool, fitness center, clubhouse, Grayhawk Golf Club, Isabella's Restaurant, MoJo's, Quill Creek Restaurant, DC Ranch Market Street, and more. See Floor Plan in Photos.

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2412 W Crimson Terrace Phoenix, AZ 85085

$610,000

3 Beds

2 Baths

2,131 SqFt

Status Active

MLS # 6785687

Property Type Single Family Residence

Price Type --

Discover the charm of this exquisite 2,131 sq ft home in the desirable Carefree Crossings community. Ideally located just 5 miles from the TSMC Semiconductor plant, it offers the perfect balance of work and relaxation. Enjoy panoramic mountain views, stunning sunsets, and star-gazing under clear desert skies, free from city lights. In spring, watch hot air balloons drift by. The resort-style backyard features a sparkling pool with pencil jet waterfalls, ideal for entertaining or relaxing. With easy access to Sedona and Flagstaff, weekend getaways are shorter drive, saving you time for the adventures you love. Perfect for both peaceful retreats and lively gatherings!

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1914 N San Luis Circle Sierra Vista, AZ 85635

$610,000

3 Beds

3 Baths

2,965 SqFt

Status Active Under Contract

MLS # 6784470

Property Type Single Family Residence

Price Type --

Welcome to the Hexagon Home, an unique Pearl Certified SIP Home (Structural Insulated Panels) with 8'' layered external walls. Three bedrooms, two and a half bathrooms, plus a large bonus room. The home has a living area of 2,965 sqft surrounding a 2,700 sqft enclosed courtyard, with a total of 6,150 sqft of everything between the exterior walls. Features include a two car attached garage with RV port, 6' deep pool with water feature, Trex Decking and water capturing system in courtyard, handmade redwood doors, indirect and recessed lighting throughout the home, gourmet kitchen with leathered granite, 36'' oven and stove vent with heat rack, red oak cabinets, 10' and 18' ceilings, glazed dual pane windows, German Blackout rolling shutters, rustic chestnut Pergo floors and gas fireplace There are two new furnaces and AC units, two new 40 gallon water heaters, walk in jetted jacuzzi tub, stained glass window coverings in a cathedral style third bedroom, amazing views of Fort Huachuca and five named mountain ranges. This is a one of a kind enchanting home, see it today!

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