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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823 W Overland Road Payson, AZ 85541

$576,000

3 Beds

2 Baths

1,806 SqFt

Status Active

MLS # 6779437

Property Type Single Family Residence

Price Type --

Location, Location, Locating! House is nestled on 0.33A, hidden by beautiful trees and foliage. 1806 sqft, 3BR, 2BA, split floor plan. Vaulted ceilings, living room has gas fireplace. New Vinyl Plank flooring throughout. Awesome kitchen and dining area with newer appliances, double oven -- fit for a cook at heart. Master suite has two walk-in closets. The back yard is a retreat --- so very private. This is a MUST SEE!

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11934 W Parkway Lane Avondale, AZ 85323

$575,995

5 Beds

3 Baths

2,370 SqFt

Status Active

MLS # 6741556

Property Type Single Family Residence

Price Type --

Explore this dynamic Raleigh home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an impressive guest suite; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; an expansive great room with center-meet doors leading onto a charming covered patio; a beautiful primary suite showcasing an immense walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 3-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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11949 W Parkway Lane Avondale, AZ 85323

$575,995

4 Beds

3 Baths

2,570 SqFt

Status Active

MLS # 6761571

Property Type Single Family Residence

Price Type --

Explore this stunning Celeste home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry with a tray ceiling; a quiet study; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; a spacious great room boasting center-meet doors leading onto a relaxing covered patio; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 2-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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11941 W Parkway Lane Avondale, AZ 85323

$575,995

4 Beds

3 Baths

2,370 SqFt

Status Active

MLS # 6762180

Property Type Single Family Residence

Price Type --

Explore this dynamic Raleigh home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an impressive guest suite; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; an expansive great room with center-meet doors leading onto a charming covered patio; a beautiful primary suite showcasing an immense walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 3-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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3355 Rising Sun Ridge Wickenburg, AZ 85390

Open House

$575,950

2 Beds

2 Baths

1,543 SqFt

Status Active

MLS # 6745962

Property Type Single Family Residence

Price Type --

Amazing off-the-grid, very well-maintain cozy house, sitting on a premium lot. Features: high tech appliances, walk-in pantry, spacious master bedroom, built-in vacuum system, solar panels with bird proofing, inverter and storage batteries. House has an extended length garage with beautiful epoxy floor and installed shelves on the walls. House stays attached to the grid in order to sell excess electricity to APC. House is energy efficient in many ways. A Trane XV20i Variable Speed Heat Pump (20 SEER) with 4-ton Hyperion Air Handler was installed in 2022. In 2023 the complete exterior of the house painted, windows and seams caulked. Deal includes an EZ-GO RXV (golf cart) with replaced batteries.

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13602 S Garnet Road Buckeye, AZ 85326

$575,555

3 Beds

3 Baths

2,718 SqFt

Status Active

MLS # 6757813

Property Type Single Family Residence

Price Type --

Move in ready custom home sitting on 1.2 acres with huge garage , remodeled primary bath with tiled shower & tub, new vanity, lighting, & fixtures. Nicely remodeled kitchen with QUARTZ counters, tall cabinets, pantry & trash compactor. Breakfast bar, eat-in kitchen + a formal dining room. Living room with cozy fireplace & large bay window seat flows nicely into billiard room, bar, & office. There is a large craft room with outside exit door & an enclosed AZ room off the primary + a nursery & walk-in closet. Vaulted ceilings, fans, plant shelves, french doors with inset blinds, dual pane windows. 3.5 car extra tall garage with plenty of storage, newer water softener. Grass yard, 2 RV gates, fully fenced. And a sun deck to enjoy 300* MOUNTAIN VIEWS! Live Rural with shopping only 4 miles awa

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8552 W Sierra Street Peoria, AZ 85345

$575,500

4 Beds

2 Baths

2,228 SqFt

Status Active Under Contract

MLS # 6727723

Property Type Single Family Residence

Price Type --

**BUYER FINANCING HELP AVAILABLE**Step into this freshly painted home featuring a spacious living and dining area that provides ample space for entertainment. The large kitchen boasts stainless steel appliances, a kitchen island, extended cabinetry, a breakfast nook, and opens to a huge family room with a cozy fireplace. The expansive primary suite offers a walk-in closet and a luxurious bath. Three additional bedrooms share a well-appointed bathroom. Outside, enjoy a perfect backyard oasis complete with a heated pool featuring a soothing waterfall. Situated on a huge lot ideal for entertaining or personal enjoyment, the property includes a gazebo and storage shed for added convenience. RV gate and ample parking space, plus a three-car garage and new AC unit

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20923 S 231st Street Queen Creek, AZ 85142

New

$575,490

4 Beds

3 Baths

2,264 SqFt

Status Active

MLS # 6786619

Property Type Single Family Residence

Price Type --

Brand new phase!. Our popular Sage plan is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill. A public report is available on the Arizona Department of Real Estate website.

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10262 W Columbus Avenue Avondale, AZ 85392

$575,279

4 Beds

2 Baths

2,587 SqFt

Status Active

MLS # 6761862

Property Type Single Family Residence

Price Type --

MLS#6761862 November Completion! Welcome to the 45-3 at Parkside Almeria, a spacious single-story home spanning 2,567 square feet with 4 bedrooms. The heart of the home is the expansive great room, effortlessly blending with the dining area to create an open, inviting space perfect for gatherings. The primary suite offers a private retreat with plenty of space to unwind. The smart floorplan also includes a flexible room, ideal for a home office, creative space, or even an additional bedroom. The primary bathroom adds a touch of luxury with its super shower, transforming daily routines into spa-like experiences. This home combines thoughtful design with luxurious living for ultimate comfort and style. Structural options include: soft water loop, gas line outdoor kitchen, garage service door, and paver porch and walkway.

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16029 E Rancho Laredo Drive Scottsdale, AZ 85262

$575,000

4 Beds

2 Baths

1,795 SqFt

Status Active

MLS # 6781610

Property Type Single Family Residence

Price Type --

Welcome home to your brand new 4 bedroom 2 bath 2024 new build! This spit open floor plan features quartz countertops, wood cabinets, custom tile showers and synthetic stucco finish. With NO HOA and an acre of land, your backyard is a blank canvas for outdoor serenity. This home is signed up with Epcor for water to ease your mind. Don't miss out on this great opportunity.

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31344 S Eastview Road Marana, AZ 85658

New

$575,000

3 Beds

2 Baths

1,959 SqFt

Status Active

MLS # 6787390

Property Type Single Family Residence

Price Type --

Beautiful home on 10 acres of land! This rare find is remote, yet very nicely finished. At 1,959 sqft, this 3 bed, 2 bath 2014 custom build has plenty of space. It is entirely off-grid, with a private well and solar power with battery bank. The mountain views are breathtaking, and can be seen from nearly every window and both balconies. The lot is also uniquely situated with enough room for another dwelling. Enjoy the views and abundant wildlife during the day, and the fireplace, outdoor firepit, and stars in the evenings. This home is in a private, gated, and fenced community with very few neighbors, lots of space, and no HOA. The home is down a long dirt road, and downtown Marana and the comforts of city living are about 35-45 minutes away, making this a true getaway.

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35938 N 138th Place Scottsdale, AZ 85262

$575,000

3 Beds

2.5 Baths

2,138 SqFt

Status Active

MLS # 6782719

Property Type Single Family Residence

Price Type --

Nestled on a spacious 1.25-acre lot, this charming 2,138-square-foot home offers the perfect blend of comfort, tranquility, and outdoor adventure. Surrounded by natural beauty, the property provides ample space for relaxation and recreation, while being just moments away from scenic hiking trails that wind through breathtaking landscapes. The home's inviting floor plan features generous living spaces with large windows that frame stunning views of the surrounding countryside and sky. Whether you're enjoying the crisp air from the patio, stargazing under the expansive night sky, or exploring the nearby trails, you'll feel a sense of peace and connection with nature at every turn.

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