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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3118 N 15th Avenue Phoenix, AZ 85015

$610,000

3 Beds

2 Baths

1,392 SqFt

Status Active

MLS # 6771036

Property Type Single Family Residence

Price Type --

The search is over! Fall in love with the appealing open layout featuring a soothing palette, a modern feature wall, recessed lighting, and attractive wood-like flooring. The delightful kitchen comes with quartz counters, grey shaker cabinets with crown moulding, a stylish tile backsplash, stainless steel appliances, a handy pantry, and a center island with a breakfast bar for casual dining. The primary bedroom includes an ensuite with double sinks, a lavish raindrop shower, and a convenient and large walk-in closet. Outdoors, you'll find an open patio, pristine artificial turf, and a shed for additional storage. HVAC System was replaced 20024. Don't miss out on this fantastic opportunity!

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17850 N 68th Street Unit 2097 Phoenix, AZ 85054

$610,000

2 Beds

2 Baths

1,814 SqFt

Status Active

MLS # 6769240

Property Type Apartment

Price Type --

Prime location and luxury living! This stunning home boasts premium interior upgrades with no detail overlooked. Nestled beside Reach 11 hiking trails, 1,000 ft from Lifetime Fitness, and within 2 miles to 3,000,000sf of premier shopping/dining at Desert Ridge, Kierland Commons, Scottsdale Quarter, and Scottsdale/101. The home shines with granite countertops, tile backsplash, upgraded kitchen cabinetry with slide-out drawers, herringbone imported Italian tile, upgraded high end stainless kitchen appliances, Toto toilets, custom $2,000 office wallpaper, primary suite walk-in closet organizers, ADA-compliant bathrooms, laundry room cabinets and more!. Ample natural light through out, with community elevators for single-level living. Private 2-car garage and extra storage included Additional features include RO system, upgraded USB electrical outlets, 2 private balconies, European White Oak office floor.

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14214 N 38th Street Phoenix, AZ 85032

$610,000

4 Beds

2 Baths

1,808 SqFt

Status Active

MLS # 6769316

Property Type Single Family Residence

Price Type --

Fully Remodeled Gem in North Phoenix! This stunning home blends modern luxury with comfort, offering an open-concept layout, sleek finishes, and designer touches throughout. Every detail has been meticulously updated - from the brand-new kitchen with stainless steel appliances to the spa-like bathrooms with custom tile work. Fresh flooring, new windows, and upgraded lighting, this home is move-in ready and perfect for entertaining. Located in a desirable North Phoenix neighborhood, close to top schools, New Paradise Valley Mall minutes away, and outdoor recreation. Don't miss your chance to own this beautifully transformed home!

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330 W Verano Place Gilbert, AZ 85233

$610,000

4 Beds

2 Baths

2,123 SqFt

Status Active

MLS # 6781175

Property Type Single Family Residence

Price Type --

Immaculate and completely renovated gem located in a quiet cul-de-sac in the highly desired lake subdivision of Lago Estancia. This beautiful 4 bedroom, 2 bath home was completely remodeled in 2024. This Pulte built home features an updated kitchen with white shaker cabinetry, stainless steel sink and appliances, granite countertops, interior and exterior paint, luxury vinyl plank flooring, new carpet and baseboards, recessed lighting, new plumbing and light fixtures, new water heater, updated bathrooms with high-end vanities. Located just minutes from downtown Gilbert, fine dining, shopping, freeways and A+ rated schools!

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688 W Ebony Way Chandler, AZ 85248

$610,000

3 Beds

2 Baths

2,157 SqFt

Status Active Under Contract

MLS # 6716664

Property Type Single Family Residence

Price Type --

PRICE REDUCED!!! and sellers giving$5000 towards closing costs as well! LOCATION! LOCATION! **NEW GRANITE COUNTERS in the KITCHEN and BATHROOMS!! *** All the CABINETS have been freshly painted! This beautiful home has 3 bdrms/2 bths with DEN can convert to extra bdrm. A spacious 3-CAR garage. The floor plan features a cozy family room, formal dining area, and formal living room. 5 Blink cameras and an alarm system that coveys with the home. Other recent upgrades-NEW A/C, with all new duct system in 2021, a NEW GAS HOT WATER HEATER 2023, and fresh paint both inside and out, including inside the garage! The backyard is a beautifully landscaped oasis with a stunning pool, perfect for relaxation and entertaining. This move-in-ready home is just waiting for you to make it YOUR own!

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15210 S 44th Place Phoenix, AZ 85044

$610,000

4 Beds

3 Baths

2,315 SqFt

Status Active Under Contract

MLS # 6725779

Property Type Single Family Residence

Price Type --

Must see this gorgeous remodel with new white shaker cabinets, self closing with brushed nickel hardware. Stainless kitchen appliances with Granite counter tops. All downstairs floors done in wood look vinyl planks and upstairs is upgraded neutral carpet. One bedroom and full bath downstairs. Two upstairs bedrooms share a Jack and Jill bath. Huge owner's suite, Bath has step in shower plus tub and large walk in closet. Freshly painted, inside and out. Both AC units new in 2022, Gas water heater new in 2021. Front and back yards have artificial grass in 2024. Fenced play pool and spa. Nice well kept community with no HOA, close to freeways and shopping.

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176 N Honeysuckle Lane Gilbert, AZ 85234

$610,000

4 Beds

2 Baths

2,109 SqFt

Status Active Under Contract

MLS # 6753160

Property Type Single Family Residence

Price Type --

Rare find! Located in beautiful Park Grove Estates. Minutes from downtown Gilbert. This 4 bedroom 2 bath home features a large entry area thats open to formal dining room, open kitchen/family room concept, vaulted ceilings-lots of natural light throughout home. Ready for you to make it your own! Huge corner lot, (over 13,000sqft). Mature trees and an RV gate! Large pool with a built in spa, mature trees... +Newer roof, newer windows and A/C as well as exterior paint+ Lots to see!

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4317 E Western Star Boulevard Phoenix, AZ 85044

$610,000

4 Beds

2 Baths

1,615 SqFt

Status Active Under Contract

MLS # 6757507

Property Type Single Family Residence

Price Type --

This Home Is A True Icon Like No Other Which Is Apparent The Moment You Drive Up The Street. It Is One Of The Most Admired And Sought After And Is Finally For Sale. Be Greeted By The Multi Tier Concrete Steps And Patios, A Fire Pit, Steel Posts And Beams,Smooth Stucco Walls With Wood Facia And A New Metal Roof. The Clear Glass Front Door Completes The Entry And The Mid Century Modern Block Home With Strategic Frank Lloyd Wright Style Gray Block Walls And Accents. Concrete Stained Floors, Birch Cabinets, With Corian Counters. The Two Bathrooms Have Been Proffesionally Designed With High End Commercial Grade Fixtures. Walk In To The Backyard Oasis And Wow! The Covered Patio Open To The Large Yard, Diving Pebble Tek Pool, Detached Block Office heated and cooled With Mini Split.. Backs Wash The Separate Quarters Is Quite Amazing. Gray Block Walls With Birch Interior Facia, Contemporary LED Lighting And Glass Block Windows With Double Door Entry. The Diving Pool Has One Of The Most Unique Custom Steel Fencing And A Metal Welded Shade Sail Frame. Two Unique Gates Lead You To The Open Wash For Hiking, Biking With Entrance To The City Park And Trails To South Mountain For Miles Of Trails. The Yard Also Features A Propane Fire Pit, Raised Planters, Propane BBQ Grill And Metal And Rock Pillars.

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820 N 8th Avenue Unit 22 Phoenix, AZ 85007

$610,000

2 Beds

2.5 Baths

1,476 SqFt

Status Active

MLS # 6772690

Property Type Townhouse

Price Type --

Step into a former model home in a gated community, just blocks from Roosevelt Row District. Urban convenience meets a quieter atmosphere. Walk to downtown Phoenix. • Diverse Dining • Lively Concerts • ASU Downtown Campus • Sports & Concert Stadiums A 10-min drive to Sky Harbor or hop on the light rail for easy city living. The Home:Built in 2017, with upgraded finishes: quartz counters, glass tile, designer lighting, 9-ft ceilings, 2-car garage. Private courtyard with pavers, turf perfect for relaxing. Versatile flex room for office or more.Second floor: open living area, kitchen with pull-out shelving, sliding doors to deck with skyline views. Top floor: two ensuite bedrooms. Primary suite: glass-doored shower, dual sinks, walk-in closet. Guest ensuite shower tub combo Community: Gazebo, grill, ample street parking, top construction. Don't miss this exceptional home!

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7177 W Pontiac Drive Glendale, AZ 85308

$610,000

4 Beds

3 Baths

2,146 SqFt

Status Active

MLS # 6742966

Property Type Single Family Residence

Price Type --

*** OVER $100k in UPGRADES! *** Welcome to your Beautiful Home in the HIGHLY desirable Lake Community of Sierra Verde in Arrowhead Ranch! This MOVE IN READY, NEWLY REMODELED 4-bed, 3-bath Beauty offers a perfect blend of luxury and comfort. Features Include New Wood Tile Flooring, New 6-inch Baseboards, Newly Upgraded Bathrooms with Travertine Tile Floors, Showers w/Granite Counters & Custom Finishes. New Pool Equipment, Pebble Sheen Finish & Removable Pool Fence. Gourmet Kitchen with Granite Counters, Tile Backsplash, Stainless Steel Appliances, and a Convenient Coffee Bar. Freshly Painted in Neutral Tones Inside and Out! Ring Doorbell! Newer Hot Water Heater! The second floor boasts Engineered Wood Flooring & Designer Built Walk-in Closets Large yard with grass area and no homes directly behind for open feel and privacy! The epoxy-coated garage includes built-in cabinets, a workbench, and a new smart garage door opener. Refrigerator, washer, and dryer are included for your convenience. The community offers ample walking and biking paths, parks, and gorgeous lake views, while A+ Sierra Verde School is just a short walk away. Enjoy easy access to Thunderbird Conservation Park, Arrowhead Mall, P-83 shopping, dining, entertainment, and freeways for effortless commuting. With so many upgrades and a prime location, this home is an absolute must-see! Don't miss your chance to make it yours!

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2410 N 40th Street Street Phoenix, AZ 85008

$609,999

3 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6776591

Property Type Single Family Residence

Price Type --

Arcadia-lite living at an affordable price. This 3-bedroom, 2-bathroom home sits on a large lot near the great shops and restaurants of Arcadia. This mostly remodeled home--including a new AC--features quartz countertops, stainless steel appliances, and new flooring throughout most of the common areas. In addition to the main home, there is a fully furnished 196 square foot office/studio with electricity and AC overlooking the pool and back yard. The one-car garage is equipped with a TESLA home charger on a dedicated breaker. Professionally installed turf and pavers are in the front yard and pool area.

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22889 E Marsh Road Queen Creek, AZ 85142

$609,999

3 Beds

2 Baths

2,132 SqFt

Status Active

MLS # 6719211

Property Type Single Family Residence

Price Type --

BUYER COULD NOT PERFORM. ASSUMABLE VA LOAN WITH 2.7% INTEREST RATE - $2063 monthly payment. 3 bedroom PLUS two additional office/dens which could be converted into additional bedrooms - enjoy the space of a FIVE bedroom home for the price of a THREE bedroom. Open-plan kitchen with formal dining area, quartz countertops, gas stovetop and built-in microwave and smart oven. Split floor plan means you'll enjoy privacy in the primary bedroom, which also includes a large walk-in closet and en-suite bathroom. Outside, skip the mess and time to build your own pool, and jump right into your new private pool on closing day! Your new back yard is complete with turf and pavers. The neighborhood of Harvest, Queen Creek was thoughtfully designed to incorporate the agricultural history of the area while still being close to the comforts of town. Just minutes from Queen Creek's best shopping and dining, and across the road from Schnepf Farms (family farm offering seasonal events, a pick your own veggies patch, concerts, farm tours, train rides, petting zoo, peach picking and bakery,) and Queen Creek Olive Mill (olive mill with gourmet market and restaurant.) Just down the street, find the brand-new Pecan Lake Entertainment facility, with rope courses, putting courses, axe throwing, escape rooms, AND a surf pool coming in 2025. Within Harvest, enjoy exceptional amenities - a lake with catch and release fishing, two heated community pools, a splash pad, neighborhood trails, play areas, fire pits and catch and release lake fishing. This is more than just a home; it's a gateway to a vibrant and fulfilling lifestyle - the Harvest community has been meticulously crafted in a shared pursuit of purposeful living.

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