What’s Ahead For Mortgage Rates This Week – January 9, 2017

2017 started with good news; fixed mortgage rates were lower, but the national unemployment rate ticked upward and labor reports showed fewer openings for public and private sector jobs. Construction spending was higher in November.

Mortgage Rates Lower; Construction Spending Higher

Freddie Mac reported lower average rates for fixed rate mortgages as the average rate for a 5/1 adjustable rate mortgage crept up. The average rate for a 30-year fixed rate mortgage dropped by 12 basis points to 4.20 percent; The average rate for a 15-year mortgage fell 11 basis points to 3.44 percent while the average rate for a 5/1 adjustable rate mortgage gained three basis points to 3.33 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Construction spending was higher in November according to the Commerce Department and reached the highest level since April 2006. The November reading was 0.90 percent higher as compared to an expected reading of 0.60 percent and October’s original reading of 0.50 percent, which was revised to 0.60 percent. Lower mortgage rates coupled with more construction could help ease low inventories of available homes and provide relief to first-time and moderate-income home buyers who’ve been challenged by rapidly rising home prices and mortgage rates.

Fewer New Jobless Claims: Unemployment Rate Rises

The government’s Non-Farm Payrolls report for December showed lower job openings for government and private sector employers with a reading of 156,000 jobs added against the expected reading of 180,000 job openings and November’s reading of 204,000 job openings.

ADP reported similar results for its December reading on private sector jobs; 153,000 jobs were created against November’s reading of 215,000 jobs created. Analysts said that hiring is increasing, but not as fast as in prior months. On average, 174,000 private-sector jobs were created monthly in 2016 as compared to a monthly average of 209,000 private sector jobs created in 2015.

Weekly jobless claims were lower last week with 235,000 new claims filed; 260,000 new claims were expected based on 263,000 new claims filed the previous week.

December’s national unemployment rate rose to 4.70 percent from 4.60 percent in November. Analysts said that the uptick was likely fueled by employers deleting former workers from their payrolls at year-end.

What‘s Ahead

This week’s scheduled economic reports include readings on job openings, consumer sentiment and weekly readings on new jobless claims and mortgage rates.

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945 E Playa Del Norte Drive Unit 3027 Tempe, AZ 85288

$735,000

3 Beds

3 Baths

1,852 SqFt

Status Active

MLS # 6721204

Property Type Apartment

Price Type --

Discover unparalleled luxury in this ultra-exclusive, high-security condo. Few units offer such generous space, featuring dual split master suites plus a large third bedroom and full third bathroom. Each bedroom has direct access to one of two expansive patios, providing breathtaking views of the courtyard, pool, and Tempe Town Lake. Enjoy cozy evenings by one of the two fireplaces, located in the family room and on the patio. Take advantage of the large fitness facility and secure, gated parking with two parking spots included. Nestled in the heart of Tempe, this prime location offers walking distance to all amenities and direct access to the scenic path around Tempe Town Lake. Easy accessibility to trash chute and elevators. Embrace the epitome of comfort, convenience and elegance in this extraordinary residence.

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1774 N Spring Valley Road Parks, AZ 86018

$735,000

3 Beds

2 Baths

1,525 SqFt

Status Active

MLS # 6716760

Property Type Single Family Residence

Price Type --

Cool serene mountain retreat nestled in the heart of Parks north of the I-40. Just 15 minutes west of Flagstaff, this well maintained craftsman style home is on a level lot with mature pines and gorgeous landscaping throughout the one acre plus property. This original owner lovingly crafted the beautiful and timeless woodwork throughout this home including the one of a kind staircase. This custom and remodeled home has upgraded windows, doors, electrical, plumbing and insulation. The kitchen has unique design elements with a pantry complete with all pull out drawers for convenience. Three cozy bedrooms with large view windows for night time star gazing from the comfort of your bed. There is a bonus room perfect for another bedroom, or for gaming or movie night. Two multi purpose workshops have enormous amounts of storage for all your crafting, outdoor equipment and sports gear. Outside are charming outdoor entertainment areas with both open and covered decks for parties or bird watching. Lovely fire pit and both a hot tub and dry sauna for those cool mountain evenings . There is plenty of room for volleyball and badminton. Close access to forest service land for off road vehicles and hiking trails. Close enough for easy access to the I-40 but far enough from any highway noise on county maintained roads. Also close to 2 stores, deli, restaurant, post office and a highly rated elementary school. This one is true Country Living at its Best!!

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8602 E Plaza Avenue Scottsdale, AZ 85250

$735,000

4 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6748588

Property Type Single Family Residence

Price Type --

This wonderful corner lot property is move-in ready! Tastefully upgraded interior showcases wood-look tile flooring, fresh neutral paint, stylish light fixtures, and window blinds. Spacious open floor plan and family room are thoughtfully designed for enjoyable gatherings and relaxation! Well-appointed kitchen boasts stainless steel appliances, plenty of cabinets with crown moulding, subway tile backsplash, butler's service area, quartz counters, and a convenience breakfast bar. Venture to the romantic primary bedroom, which includes plush carpet, a sliding door closet, and an ensuite with an enclosed glass shower. Don't miss the stacked washer & dryer! Finally, the large backyard provides a covered patio and artificial turf. A deal like this won't last! Make it yours now!

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7972 W Robin Lane Peoria, AZ 85383

$735,000

5 Beds

3 Baths

3,406 SqFt

Status Active Under Contract

MLS # 6726968

Property Type Single Family Residence

Price Type --

Spacious 5 bedroom, 3 full bath, family home in the desirable Deer Valley Estates. Close to schools and park. Downstairs has bedroom/office and full bathroom, newly updated kitchen with an abundance of storage. Large open concept offers several dining and entertaining options. Enormous primary bedroom with spacious bathroom and walk in closet. Two of the remaining bedrooms also have walk in closets. 3 car garage with cabinets, RV PARKING ALLOWED ABOVE FENCE LINE. 11.5' X 37' concrete pad for RV/Boat Etc. Inviting backyard set up to entertain complete with pool and covered patio. Storage shed on side of home for all your storage needs.

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908 N Autumn Sage Court Payson, AZ 85541

$735,000

2 Beds

2 Baths

1,755 SqFt

Status Active

MLS # 6650218

Property Type Single Family Residence

Price Type --

Discover the epitome of refined living in this stunning 2 bed, 2 bath single-story home within the prestigious Chaparral Pines Golf Community. A thoughtfully crafted split floor plan ensures privacy, while the open concept design seamlessly integrates the living, dining, and kitchen areas. The front covered deck welcomes you with charm, providing a perfect spot to enjoy the scenic surroundings. Inside, a captivating stone fireplace takes center stage, creating a warm and inviting atmosphere. The kitchen is a culinary masterpiece with quartz countertops, stainless steel appliances, and an expansive island for both functionality and style. Step outside to a large covered back patio, offering an ideal space for outdoor gatherings and relaxation. This home also features an oversized 2-car garage, providing ample space for your vehicles and storage needs. Immerse yourself in the luxurious lifestyle of Chaparral Pines, where modern elegance meets the tranquility of this beautiful community. Your dream home awaits.

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7114 W Jasmine Trail Peoria, AZ 85383

$735,000

4 Beds

3.5 Baths

2,575 SqFt

Status Active

MLS # 6721733

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the highly desired Aloravita! This beautifully upgraded home offers luxury living at its finest, featuring an exquisite kitchen, spa-like bathrooms, and a resort-style backyard perfect for entertaining and relaxation. Step into the beautiful kitchen with upgraded SS appliances, tiled backsplash, and stunning quartz counters with a waterfall edge on the center island. The first level primary suite features large closet, and stunning en-suite bath with duel sinks, quartz counters, and huge tiled walk-in shower. The backyard is a dream with a sparkling, heated pool with Baja shelf, travertine patio, and turf area. Located close to top-rated schools, highly rated restaurants, parks, and so much more! Don't miss this amazing home!

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1834 E Pinto Drive Gilbert, AZ 85296

$735,000

4 Beds

3 Baths

2,716 SqFt

Status Active Under Contract

MLS # 6725370

Property Type Single Family Residence

Price Type --

Remodeled 4 bedroom home in Gilbert with New AC,a 3-car garage and a Pool! The interior will captivate you, showcasing wood-look flooring, high vaulted ceilings, upscale ceiling fans, fresh neutral palette, & stylish light fixtures. Inviting living room seamlessly flows into the dining area. Abundant natural light filled the large great room, making get-togethers a bliss! Upgraded kitchen features plenty of white shaker cabinetry, SS appliances, tile backsplash, an island w/a breakfast bar, & sleek quartz counters. Make the flexible loft a reading nook! Double doors open to the spacious main retreat, offering plush carpet, an ensuite w/two vanities, & a garden tub. Plunge into the refreshing pool or enjoy a cool drink under the covered patio in the serene backyard. Hurry!

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18417 W Missouri Avenue Litchfield Park, AZ 85340

$735,000

4 Beds

3 Baths

2,823 SqFt

Status Active

MLS # 6750754

Property Type Single Family Residence

Price Type --

Beautiful stone accented single family home featured in the popular community of ''Savannah'' located in Litchfield Park, AZ. This home incorporates a subtle balance of contemporary finishes with a modern design. The home features 4 bedrooms, 3 full bath(s), +Den, 2,823 sq ft open concept floor plan, nicely appointed kitchen w/ granite countertops, island, large [eat-in] peninsula, raised panel cabinetry, ss appliances, gas cooktop, and pantry. Also, this home features 9ft+ ceilings, hardwood flooring, modern plumbing/lighting fixtures [fans], dual pane [low-e] windows, designated dining space, and a dedicated master retreat featuring a spacious sleeping quarters, separate shower & tub, dual sinks, and walk-in closet, Lastly, the home features front court yard w/ built in fire pit, a 5-car tandem garage w/ forward & back garage doors, dedicated 30 amp sub-panel for workspace,and a private backyard retreat featuring mature landscaping, 2x outdoor sheds, grass yard space, RV Gate, and an extended covered patio space w/ gorgeous fire pit sitting area--perfect for entertaining guests & family. Community offers residents plenty of walking & bike paths, green spaces, and is just minutes away from great shopping, restaurants, and entertainment.

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8911 S 14th Way Phoenix, AZ 85042

$735,000

3 Beds

2.5 Baths

2,514 SqFt

Status Active

MLS # 6722632

Property Type Single Family Residence

Price Type --

See the spectacular mountain views as you walk through the front door! This beautiful 4 bed, 2.5 bath home offers a lovely stone facade, 3-car tandem garage, & a low-maintenance landscape. The flowing open layout features 10-foot ceilings, engineered wood flooring, soothing paint, recessed lighting, abundant natural light, a welcoming foyer, and a spacious living room with pre-wired surround sound, a custom stacked stone fireplace, a dry bar with wine storage & a draft beer system. A magazine-worthy kitchen highlights ample cabinets, SS appliances, including double ovens & a gas cooktop, tile backsplash, granite counters, pendant lights, & an island with a breakfast bar. The spacious master bedroom is bright and cozy and hosts an immaculate ensuite w/dual sinks & HUGE walk-in closet. Elevating indoor-outdoor living to new heights, large sliders beckon to the covered patio that has a privacy screen, remotely operated to extend your indoor/outdoor experience. This home is situated on a premium lot with NO neighbors behind you! Immerse yourself in the tranquil waters of the heated pool with a cascading waterfall, or hone your putting skills on the premium PUTTING green. Prominence is a small exclusive gated community comprised of ALL single story open floor plan homes. Mountain views to the south, city views to the north. This highly sought-after community features a tot lot, picnic tables with shade sails, BBQ grills, seating nodes, and turf play areas. Prominence provides quick and easy access to six highways, downtown Phoenix corridors, Sky Harbor airport, as well as the rest of the valley. South Mountain Regional Park, retail and entertainment, including Chase Field ballpark and Talking Stick Resort arena, are located within a short drive, too! New HVAC and water heater

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20476 N 88th Lane Peoria, AZ 85382

$735,000

6 Beds

3.5 Baths

3,590 SqFt

Status Active

MLS # 6674708

Property Type Single Family Residence

Price Type --

Stunning, updated home in North Peoria! This home sits on a huge lot and features neutral paint, new carpet, and bright and open main living area. The kitchen has beautiful granite counters, tiled backsplash, and stainless steel appliances. The main level features one bedroom and the primary suite which has a huge closet, and highly upgraded en-suite bath with granite counters, dual sinks, and tiled walk-in shower. The second level features a spacious loft, and four other secondary bedrooms. The backyard has a sparkling pool, spa, double gate, large covered patio, fireplace, and grassy area. Located in a convenient location close to great schools, parks, shopping, and restaurants.

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1435 E Artemis Trail Queen Creek, AZ 85140

Open House

$735,000

2 Beds

2.5 Baths

2,143 SqFt

Status Active

MLS # 6703629

Property Type Single Family Residence

Price Type --

Nestled within a canvas of architectural elegance, this Positano model is TURN-KEY READY! By turn-key ready, EVERYTHING you see in the home may be purchased to stay at close. It features a serene courtyard entry, two luxurious primary suites with lavish ensuites, and a chef's kitchen with a gas stove. Outside, a picturesque pergola offers privacy and tranquility among hedged trees and blooming citrus, providing a haven for relaxation and culinary inspiration. Every detail invites you to savor life's finest moments in this artistic haven of beauty and comfort. Buyer has the option to purchase FULLY FURNISHED with a separate bill of sale.

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8638 E El Charro Lane Scottsdale, AZ 85250

Open House

$735,000

6 Beds

3 Baths

2,728 SqFt

Status Active

MLS # 6685495

Property Type Single Family Residence

Price Type --

BACK ON MARKET - BUYER LOAN fell through week of COE! ~ RARE, AMAZING OPPORTUNITY at an UNBELIEVABLE price ~ 6-BEDROOM, 3-BATHROOM home in FABULOUS Park Scottsdale ~ 2,728 square feet PLUS OVERSIZED 2.5 Car Garage w/EV Charger ~ SO MANY recent upgrades ~ Kitchen has been updated w/white cabinets, stainless steel appliances, in-drawer lighting, & WALK-IN PANTRY w/refrigerator ~ ROOF REPLACEMENT in 2021 ~ Main HVAC unit REPLACED in 2021 & 2nd HVAC unit replaced in 2023 ~ WATER SOFTENER installed in 2021 ~ DUAL PANE Windows ~ Water Heater replaced in 2021 ~ Formal Dining Room & a cozy Living Room featuring a charming FIREPLACE surrounded by built-in bookshelves ~ Large addition w/VAULTED CEILING Living Room + Ensuite Bedroom w/Bathroom (addition added by previous owner) ~ Primary Bedroom upstairs w/direct Bathroom entry & WALK IN CLOSET w/direct Bathroom entry & WALK IN CLOSET ~ 3 Total Bedrooms upstairs ~ 2 Bedrooms downstairs (one of them is REALLY OVERSIZED), Bathroom + Laundry Room ~ PRIME LOCATION close to the 101 freeway ~ Just minutes away from Talking Stick Baseball Fields, Old Town Scottsdale, Chaparral Park, the Scottsdale Greenbelt, as well as numerous shopping & dining options ~ FABULOUS SCHOOLS in the neighborhood - Pueblo Elementary Dual Language Spanish Immersion School, Navajo STEAM Elementary School, Mohave Middle School, Saguaro High School, Great Hearts and Scottsdale Community College ~ Don't miss out on this incredible opportunity to own a spacious home in Scottsdale at an amazing price! This home is being sold AS-IS.

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