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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3454 E Jasmine Way San Tan Valley, AZ 85143

$552,000

5 Beds

3 Baths

2,530 SqFt

Status Active

MLS # 6752588

Property Type Single Family Residence

Price Type --

You'll love this beautiful ranch-style home in the desirable Community of Bella Vista Farms! With 5 beds, 3 baths, & a 2-car garage, this 2024-built gem offers comfort & style! Inviting hallway ushers you to the spacious open layout enhanced by tall ceilings, wood-plank tile flooring, multiple exits, & recessed lighting t/out. The impeccable kitchen is outfitted with sleek SS appliances, granite counters, rich wood shaker cabinetry with crown molding, & a sizable island with a breakfast bar. The grand main suite has plush carpeting, a pristine ensuite, a walk-in closet, & outdoor access. The home's elegance extends outdoors to the serene backyard that comes with a extended covered patio, artificial turf, & pavers. Enjoy amenities like a community pool, playgrounds, sports fields, etc.

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3131 N Central Avenue Unit 3021 Phoenix, AZ 85012

$551,900

2 Beds

2 Baths

1,125 SqFt

Status Active

MLS # 6585352

Property Type Apartment

Price Type --

*Construction completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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4417 S 111th Drive Tolleson, AZ 85353

$551,900

4 Beds

3 Baths

2,524 SqFt

Status Active

MLS # 6780759

Property Type Single Family Residence

Price Type --

A rare find! You'll surely love to own this beautiful 4-bedroom residence in Tolleson! Meticulously maintained interior boasts a desirable great room graced with bountiful natural light, wood-look tile flooring, and neutral paint that creates an inviting vibe. Impeccable kitchen offers recessed lighting, glossy stainless steel appliances, quartz counters, stylish tile backsplash, plenty of white cabinetry with crown moulding, and a peninsula equipped with a breakfast bar. Romantic primary bedroom provides a private ensuite with dual sinks, a sit-down shower, and a walk-in closet. As a bonus, this gem includes a fully equipped guest's quarter! Spacious backyard features a covered patio, pergola, and artificial turf. Seize the opportunity while it's still available!

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4634 N 177th Drive Goodyear, AZ 85395

$551,190

5 Beds

3 Baths

2,530 SqFt

Status Active

MLS # 6769363

Property Type Single Family Residence

Price Type --

BRAND NEW, energy-efficient home available in GATED COMMUNITY! The well-designed Bailey is perfect when a bit more space is needed. Each of the five bedrooms in this floorplan features a spacious walk-in closet. White cabinets with quartz countertop and grey tile flooring and carpet in bedrooms. ALREADY INCLUDED - washer, dryer, window blinds (except slider), refrigerator, soft water loop and more!!!! Residents will enjoy future amenities right at their doorstep including parks, pickleball, soccer, play area, walking trails, basketball court, ramada with outdoor kitchen, gas grill and fireplace, and more!!! Each home is built with innovative, energy-efficient features designed to help you enjoy more savings!

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16837 W Fetlock Trail Surprise, AZ 85387

$550,296

5 Beds

3 Baths

3,420 SqFt

Status Active

MLS # 6747381

Property Type Single Family Residence

Price Type --

On the hunt for a new home? Here's a wonderful home in the heart of Surprise that just released to the MLS. Very spacious high performance Wrightson plan. This popular floor plan includes a Gourmet Kitchen, Loft, Study space, Tub/Shower combination in the primary, Home Automation, Geofencing, whole house air purification system, and 5 bedrooms with 3 full baths. With one full bed and bath located down stairs. All rooms are very spacious!

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Yuma Prooving Guard AZ 85365

$550,000

1 Bed

1 Bath

1 SqFt

Status Active

MLS # 6752994

Property Type Apartment

Price Type --

commissions

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93 S County Rd 1120 Street Greer, AZ 85927

$550,000

1 Bed

1 Bath

520 SqFt

Status Active

MLS # 6689446

Property Type Single Family Residence

Price Type --

Located on Main Street, Zoned for a business or your private cabin! Open 87 days of the yr. If you have been to Greer since 2021, you have seen the Coffee Cure & seen the lines for coffee, food, fudge, wine, jewelry & t-shirts. Cabin has 2 bedrms & 1 bath, a basement that is an approved commissary kitchen with in-floor drain & 3 compartment sink. Cabin has new windows, new flooring in bedrms, new electric & new plumbing. Liquor License (in state producer) & Starlink internet included with acceptable offer. All this on 1.34 acres of land! 1200 customers per week come to the food & coffee trucks. This does not count for customers who walk up to the other vendors. Exterior animal sculptures included (appx. value for re-sale = $20K) 40 foot garage is new, insulated, heated + a window A/C unit

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20033 W Turney Avenue Litchfield Park, AZ 85340

$550,000

3 Beds

2 Baths

2,270 SqFt

Status Active

MLS # 6751119

Property Type Single Family Residence

Price Type --

Beautiful newer home with great upgrades. 3 bedrooms with a den, 2 bathrooms, 2 car garage and North/South facing. Paver drive and sidewalk lead into soaring 11 foot ceilings and luxurious wood plank tile to a gourmet kitchen with upgraded tall white cabinets, gas stove, stainless steel appliances and quartz counter tops. Open living and dining concept, ceiling fans, curtains, and blinds make it feel like home. Luxurious Master bath with full glass walk in shower, huge closet and mirrors and two sinks. Edison light fixtures give a soft touch. 2 Enormous glass sliding doors extend living space into the outdoors, a short walk to 2 huge grassy parks complete with shaded tables. Verrado is one of the biggest master planned communities around with great amenities. Come see it today!

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Yuma Prooving Guard AZ 85365

$550,000

1 Bed

1 Bath

1 SqFt

Status Active

MLS # 6756933

Property Type Apartment

Price Type --

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6090 N Stratford Court Rimrock, AZ 86335

$550,000

3 Beds

2.5 Baths

2,090 SqFt

Status Active

MLS # 6767709

Property Type Single Family Residence

Price Type --

Welcome to Beaver Creek Preserves! A gated community nestled in Northern Arizona, 30 minutes south of Sedona. Complete with community walking trails, clubhouse, community pool, and work-out facility. Brand new, never lived in home built in 2023, with 3 bedrooms plus a den, 2.5 bathrooms, 2 car garage and an RV garage. Enjoy the serenity of Beaver Creek Preserves. Inside, expansive windows frame panoramic views, while the open-concept layout boasts premium finishes and modern amenities. Outside, a spacious patio invites outdoor living and stunning vistas. The modern rustic charm of the finishes and mountain views, one you do not want to miss!

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22274 E Cherrywood -- Queen Creek, AZ 85142

Open House

New

$550,000

4 Beds

2.5 Baths

2,083 SqFt

Status Active

MLS # 6786964

Property Type Single Family Residence

Price Type --

Best Lot in La Sentiero! This stunning home sits on an oversized cul-de-sac lot with an RV gate that opens directly to the park! Located in Queen Creek, it's just minutes away from shopping, dining, and entertainment. Step inside this beautifully designed 4-bedroom, 2.5-bath residence, complete with a spacious 3-car garage. The open-concept layout is filled with natural light, highlighting the home's modern finishes. The upgraded kitchen is a chef's dream, featuring extended cabinetry, sleek white quartz countertops, and stainless steel appliances. Key features include: stylish wood-look tile flooring in high-traffic areas, a grand front entry with a dramatic hallway leading to a spacious great room, a generously sized laundry room with room for an extra refrigerator or freezer

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21019 N Totem Drive Sun City West, AZ 85375

$550,000

3 Beds

3 Baths

2,322 SqFt

Status Active

MLS # 6782057

Property Type Single Family Residence

Price Type --

This is the perfect retirement haven you've been looking for! Situated on a HUGE lot in a cul-de-sac, this beautiful home offers 3 beds, 3 baths, a 2-car garage, & a desert landscape. Home exudes refined style with tons of natural light, recessed lighting, neutral paint, and wood-look TILE flooring t/out. You'll surely love the perfectly flowing living & dining room! The kitchen boasts black SS appliances, tile counters, ample cabinetry, a breakfast bar, & a cozy nook. But the true highlight is the two identical split main bedrooms, each with a walk-in closet, full bathroom, and sliding doors to separate patios. Want MORE? The attached CASITA provides so much possibilities! It includes the 3rd bedroom, a bathroom, and a spacious living/dining/den space - or transform it into a hobby room. Laundry room with storage closets for added convenience. Discover the expansive backyard with fruit trees and an open patio to relax while enjoying BBQ! Located in the 55+ Sun City West, providing a resort-style lifestyle with four recreation centers featuring pools, fitness facilities, and craft studios, plus seven golf courses, including private & public options. Residents also enjoy a variety of clubs, tennis & pickleball courts, and a year-round social calendar of events & performances, all set amid scenic walking & biking trails. What a RARE find! Make this gem yours! New roof 2019, New primary A/C 2022 2nd A/C 2016, New Redwood Gate 2022, New exterior paint 2023, New back patio cover 2023, New pavers 2023, New landscape trees 2022, New Sun screen throughout 2021, New valves & Timer at irrigation 2022, New garage door opener and key pad 2022, New landscape granite 2024, New exterior light fixtures 2022, New Gutters front and Back 2024, New fans and switch 2021, New 5 inch recessed lights 2021, Removed popcorn ceiling 2021, Fresh paint throughout 2024, New porcelain tile and base throughout, Epoxy paint in garage 2021, New storage cabinet in Laundry rm 2023, 3 NEW Kholer toilets 2021, New sinks 2021, New water valves 2021, New Hunter Douglas window coverings 2021, New bathroom vanity 2&3, Fan in garage, Dimmer switches, Tile wains coat at kitchen & bath

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