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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2471 E Stacey Road Gilbert, AZ 85298

$569,999

4 Beds

3 Baths

2,121 SqFt

Status Active Under Contract

MLS # 6739474

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the highly sought-after community of ADORA TRAILS in Gilbert! This single story home has 4-bedrooms, 3-full baths, a Den/Flex space & sits on a desirable corner lot. As you step inside, you'll be greeted by an open & inviting floor plan, perfect for modern living & entertaining. The 2nd guest bedroom, full bath & den'/flex space are perfectly appointed off the foyer of the home. The kitchen features granite countertops, ample cabinet space, a kitchen island with pendulum lighting & breakfast bar seating that seamlessly flows into the formal dining area & spacious family room complete with a 12' sliding glass door, overlooking the expanive covered patio. The primary suite has everything you could ask for complete with on on suite bath with dual sinks.... seperate shower/tub, a private toilet room & spacious walk in closet. The 3rd & 4th bedrooms are accompanied by their own full bath, making this home the perfect floorplan for a family, residents that work from home and/or someone who likes to entertain with guests! Outside, the easy maintenance front yard is perfectly designed & the backyard is complete with desert rock & ready for a new owner to create their dream oasis. Nestled at the base of the majestic San Tan Mountains, this family-friendly neighborhood offers the perfect blend of natural beauty & modern convenience. Residents of the master planned community of Adora Trails enjoy access to a wealth of community amenities including: 10-Acre Neighborhood Park, 12 Miles of Walking Trails, 10,000 Sq. Ft. Clubhouse/Activity Rooms, Fitness Center, Community Swimming Pool, Water Playground, Adora Trails Lake Featuring Fresh Water Fishing, Picnic Tables, Grilling Stations, Shaded Ramadas Playgrounds & Championship Basketball Courts.

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11950 W Parkway Lane Avondale, AZ 85323

$569,995

4 Beds

2 Baths

2,370 SqFt

Status Active

MLS # 6741755

Property Type Single Family Residence

Price Type --

Welcome to this exciting Raleigh home, ready for quick move-in! Included features: a covered entry; a gourmet kitchen offering 42' cabinets, quartz countertops, stainless-steel appliances, an island, and large butler's and walk-in pantries; an open dining nook; an impressive great room with center-meet patio doors; a beautiful primary suite showcasing a sizable walk-in closet and a private bath with double sinks; a spacious study; three secondary bedrooms with a shared bath; a central laundry and a cheerful covered patio. This home also boasts soaring 10' ceilings, wood laminate flooring, cultured marble bath countertops, extra windows and ceiling fan prewiring in select rooms, front yard landscaping and concrete pavers at the driveway and walkway.

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682 E Aurora Drive San Tan Valley, AZ 85140

$569,990

4 Beds

2.5 Baths

2,094 SqFt

Status Active

MLS # 6768688

Property Type Single Family Residence

Price Type --

Almost Complete! This gorgeous Santa Rosa II home offers a beautifully designed split floor plan with 4 bedrooms (in lieu of the home office) and 2.5 bathrooms. The spacious great room and kitchen, highlighted by a stunning vaulted ceiling, create the perfect setting for entertaining. The kitchen is a showstopper, featuring our Loft-inspired ''Looks'' collection with sleek dark blue cabinets, brushed nickel hardware, stylish floating shelves, and sparkling quartz countertops. The luxurious Primary Suite offers a serene retreat, complete with a spa-like bathroom and a generous walk-in closet. Every detail of this home has been thoughtfully crafted to create a blend of modern comfort and elegance. Don't miss your opportunity to own this beautiful home—make it yours today! Up to 6% of Loan Amount can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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15848 W Kendall Street Goodyear, AZ 85338

$569,990

4 Beds

3 Baths

2,534 SqFt

Status Active

MLS # 6784441

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender. This single-story residence features an attahed private suite that is perfect for those who need additional privacy, with an attached suite that features its own kitchen, living room, bedroom, bathroom and private entrance. In the main home are three additional bedrooms - including the owner's suite - plus an open living area with a back patio. Photos are of model home not actual home. A public report is available on the Arizona Department of Real Estate website.

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31969 N 117th Avenue Peoria, AZ 85383

$569,990

3 Beds

2 Baths

1,486 SqFt

Status Active

MLS # 6755500

Property Type Single Family Residence

Price Type --

Acacia - We're building this home in the beautiful new community of Mystic in Peoria. Large walk-in shower at owner's bath with tile surrounds and floor. Pavers at drive, walk and entry. Kitchen upgrades include stainless steel gas appliance package with a 36'' cooktop, wall oven, microwave and glass canopy hood. Sonoma Maple Slate (Gray) cabinets with soft close doors & drawers, pull out trash drawer. AZT Hana Sky quartz countertops at kitchen. Upgrade flooring includes AZT 12x24 Sand Matte tile in all areas of the home except beds/closets. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 3.

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5329 W Rainwater Drive Laveen, AZ 85339

$569,990

5 Beds

4 Baths

2,838 SqFt

Status Active

MLS # 6769226

Property Type Single Family Residence

Price Type --

MLS#6769226 Ready Now! The Pinnacle at Tierra Montana Encore presents a stunning two-story design with a spacious primary suite located on the main floor. This suite offers a large shower, soaking tub, dual-sink vanity, and a walk-in closet perfect for year-round storage. The open-concept layout connects the expansive gathering room to the gourmet kitchen and dining area, creating an ideal space for entertaining. Also on the first floor, you'll find a laundry room and a guest bedroom with a full bath, perfect for hosting overnight guests. Upstairs, three additional bedrooms, two full baths, and a generous loft provide ample space for family living. Structural options include: 5th bedroom and 4th bath in lieu of study and half bath.

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20287 W Catalina Drive Buckeye, AZ 85396

$569,990

4 Beds

3 Baths

2,510 SqFt

Status Active

MLS # 6783358

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Jade floor plan sitting on a LARGE LOT with over 10,250 SQ. FT and a 10' GATE in addition to the 4' gate. Brick pavers at drive, walk and entry. Multi slide door off the great room that leads out to the covered patio. Kitchen features include stainless steel gas appliance package with a 36'' cooktop, wall oven, Microwave, dishwasher and canopy hood. Barnett Latte stain cabinets with 42'' kitchen uppers, pull out trash drawer. AZT White Sands quartz countertops in and at enhanced countertop. White undermount single bowl sink. Dual sinks at bathroom 3. Upgrade flooring includes wood laminate in all areas of the home except for bedrooms and baths and so much more.

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20131 W San Juan Avenue Litchfield Park, AZ 85340

$569,990

4 Beds

3 Baths

2,561 SqFt

Status Active

MLS # 6767689

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Cinnabar with an 8' gate. 4 bedrooms, 2.5 baths, study with double doors and formal dining. Front court yard. Pavers at drive, walk and entry. Multi slide door that leads out to your covered patio. Stainless steel gas appliance package with double oven, 36'' cooktop, microwave and glass canopy hood perfect for the cook in the family. Maple (Slate-gray) cabinets with 42'' kitchen uppers, pull out trash drawer and 3 drawers ILO of cabinets in kitchen. AZT Delta terra quartz linen countertops in kitchen and at the enhanced kitchen island. Flooring includes EWS Riverside Firenza 20x20 tile with 5'' baseboards and 3 1/4'' door casings. Dual sinks in bath 2, gas stub for future BBQ and so much more. Please verify all information with onsite agent . Thank you!

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20095 W San Juan Avenue Litchfield Park, AZ 85340

$569,990

4 Beds

3 Baths

2,561 SqFt

Status Active

MLS # 6775719

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! It's the stunning Cinnabar with 4 bedrooms + study, dining room, 3 full baths and 3 car garage. 8' gate for easy access to the backyard. Multi slide door that leads out the covered patio. Stainless steel gas appliances with 36'' cooktop, wall oven and canopy hood. Sonoma Maple Slate (Gray) cabinets with 42'' kitchen uppers, pull out trash drawer. Himalaya white granite countertops in the kitchen and at the enhanced kitchen island. Stainless steel single bowl undermount sink. Upgrade flooring includes EMS Baccarate 12x24 Astra tile in all areas of the home except bedrooms and closets. Dual sinks at bath 2. Soft water loop, garage service door, 8' tall garage door with two controls. Please verify all information with onsite agent . Thank you!

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720 E Aurora Drive San Tan Valley, AZ 85140

$569,990

3 Beds

2.5 Baths

2,094 SqFt

Status Active

MLS # 6755660

Property Type Single Family Residence

Price Type --

Ready for a Quick MOVE-IN!! - This Santa Rosa plan offers 3 bedrooms, 2.5 baths, and a versatile FLEX room, perfect for a home office or peaceful retreat. Part of our signature Classics ''Looks'' interior collection, the kitchen boasts a spacious island with breakfast bar, White Cabinets, and Quartz Counters. The open great room and dining area flow seamlessly to an oversized covered patio, ideal for indoor/outdoor living. Enjoy the convenience of our unique HovHub with a built-in desk as a drop zone near the garage entry. The Primary suite features a luxurious resort-style bath and spacious walk-in closet. Up to 6% of Loan Amount can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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274 S 164th Drive Goodyear, AZ 85338

Open House

$569,990

4 Beds

3 Baths

2,510 SqFt

Status Active

MLS # 6744181

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! Very spacious Jade floor plan with 5 bedrooms, 3 baths and 3 car garage. Multi slide door off the great room. Bedroom #4 has it's own private full bath and walk in closet perfect for a guest suite. All secondary bedrooms have walk-in closets. Plenty of storage space. Large walk in shower at owner's bath. Pavers at drive, walk and entry. Stainless steel gas appliance package with 30'' cooktop, wall oven and canopy hood. Additional kitchen cabinets in Barnett Maple Boulder (Gray) with 42'' uppers and pull out trash bins. AZT Hana Sky quartz countertops in kitchen and the enhanced kitchen countertop. Upgrade flooring includes DT Broxburn Gray 6x24 plank tile in all areas of the home except bedrooms and closets. Please verify all information with onsite agent . Thank you!

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4523 E Camino De Cafe -- Hereford, AZ 85615

$569,900

4 Beds

2 Baths

1,988 SqFt

Status Active

MLS # 6782421

Property Type Single Family Residence

Price Type --

Custom New Construction by Sun Canyon Homes. This home is located in the beautiful subdivision Ranchos San Pedro all home sites are up to one acre and have mountain views in several directions. This home has wood-look ceramic tile throughout, granite countertops, stainless appliances including refrigerator. Concert driveway to the street with plenty of parking in addition the 3car garage finished with epoxy floor finish. steal insulated garage doors withJackshaft Wifi openers. Large walk-in shower with double faucets. Built with high-quality construction materials. This home includes 2x6 exterior framing, Polyglass premium roof underlayment, R-21 open-cell foam insulation in exterior walls, and a Tyvek wrap vapor barrier for energy efficiency & durability plus a 2-10 Home Warranty.

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