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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501 W Surrey Avenue Phoenix, AZ 85029

New

$730,000

4 Beds

2 Baths

2,581 SqFt

Status Active

MLS # 6755688

Property Type Single Family Residence

Price Type --

MUST SEE! Don't miss this beautifully remodeled gem! Nestled in the highly sought-after Moon Valley neighborhood on a spacious 0.23-acre corner lot, this 4-br, 2-bath home is updated with no detail overlooked. A split floor plan, 3 large bedrooms and a large primary suite with a relaxing ensuite bath features a separate shower and sunken tub. This home has been lovingly cared for and immaculately maintained, showcasing modern upgrades while preserving its charm. The expansive backyard provides endless opportunities for outdoor entertainment, relaxation, or even adding a future pool. A large covered patio offers plenty of shade and the perfect spot to enjoy breathtaking views of North Mountain. Enjoy easy access to hiking trails. Close to elementary, middle and high schools.

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10118 E Trent Avenue Mesa, AZ 85212

$730,000

4 Beds

3.5 Baths

2,794 SqFt

Status Active

MLS # 6751202

Property Type Single Family Residence

Price Type --

Welcome to this stunning Toll Brothers home nestled in the premier community of Cadence! With its impressive curb appeal and an inviting, bright, and airy floor plan, this residence is designed for both comfort and style. Step inside to discover an open-concept layout that seamlessly connects the elegant kitchen to the living area. The gourmet kitchen boasts pristine white cabinetry, a generous breakfast bar, a large center island, and a walk-in pantry, all complemented by stainless steel appliances. Expansive windows and soaring ceilings flood the space with natural light, creating a warm and welcoming atmosphere. This living area effortlessly transitions to a backyard oasis, complete with a covered patio and a spacious play area featuring lush artificial turf. The main level also includes a versatile flex space that can serve as an office, den, or formal dining area, along with a private full bedroom and bathroom, ideal for guests or extended family. Venture upstairs to find an oversized loft that offers additional living space, along with a generously sized primary bedroom complete with a walk-in closet, dual sinks, and a walk-in shower. Two additional bedrooms share a well-appointed bathroom, and the convenience of a laundry room rounds out this functional second level. This home combines modern living with thoughtful design, making it the perfect retreat for any lifestyle. Don't miss the opportunity to make it yours! Cadence features an 8 acre park with a 12,000 sq ft club house that features a fitness center gym and meets the needs of every family. member! Enjoy the community pool, tennis courts, basketball courts and playground just to name a few ammenties. Conveniently located by shopping restaurants and easy freeway access!

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31033 N Trail Dust Drive San Tan Valley, AZ 85143

$730,000

3 Beds

2.5 Baths

2,818 SqFt

Status Active

MLS # 6749177

Property Type Single Family Residence

Price Type --

Welcome to 31033 N TRAIL DUST DR, your own slice of paradise nestled in the heart of the picturesque Johnson Ranch community, where luxury meets tranquility. This stunning 3-bedroom, 2.5-bath retreat is perfectly positioned on a quiet cul-de-sac overlooking the 10th hole of the San Tan Highland golf course, framed by the majestic San Tan Mountain foothills - and with your own putting green! Enter through elegant double doors into an expansive living space where every detail whispers sophisticationfrom the formal living and dining rooms to the cozy family room that seamlessly connects to the kitchen and nook. The chef's kitchen is a culinary delight, boasting custom tile backsplash, granite countertops, and an abundance of storage. Step outside to an entertainer's dream: a private, self-cleaning pool with a captivating rock waterfall, an extended pergola patio for al fresco dining, an inviting outdoor fireplace, and a putting green to perfect your game. The oversized primary suite offers a sanctuary of comfort with custom-designed California closets and a spa-inspired bath, while the home's thoughtful upgrades, including two new SEER16 HVAC units, a new roof with underlay (2022), soft water and reverse osmosis systems, and additional insulation, ensure effortless living. Experience the epitome of refined elegance and modern comfort in this exceptional San Tan Valley hometruly a must-see!

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1407 E Artemis Trail San Tan Valley, AZ 85140

$730,000

2 Beds

2.5 Baths

2,173 SqFt

Status Active

MLS # 6663044

Property Type Single Family Residence

Price Type --

Stunning, extremely well kept 2-bedroom, 2.5-bath home in gated Encanterra, with a den and a 3-car garage. Granite countertops, updated kitchen appliances in 2023 includes new Sub Zero refrigerator. Updated master bath, beautiful wood flooring, outdoor fireplace and built in gas grill. Must be seen to appreciate its condition and cleanliness. Fully landscaped back yard with turf, watering system, & view to the common area. Built-in garage cabinets, tankless water heater and water softener. Transferable lifetime window warranty. Enjoy Encanterra's golf course & workout center. Multiple pools, spas, sport courts, pickle ball, parks, tot lots, amazing restaurant and club house.

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1431 S Wayne Drive Chandler, AZ 85286

$730,000

4 Beds

3 Baths

2,669 SqFt

Status Active

MLS # 6753818

Property Type Single Family Residence

Price Type --

The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar! The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar!1

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2410 W Aloe Vera Drive Phoenix, AZ 85085

$730,000

4 Beds

2.5 Baths

2,739 SqFt

Status Active

MLS # 6732990

Property Type Single Family Residence

Price Type --

Step inside this gorgeous 4 bedroom 2 1/2 bath home that shows like a model. Upon entering through the custom decorative steel door, you will be greeted by a large open, light and bright living & dining room with high ceilings. Enjoy the expansive kitchen with its large island and plenty of cabinets for the storage we all crave. If you don't like carpet, then this is the home for you, new LVT throughout most of the home, with tile in all the right places. The primary bedroom is large and bright with a walk-in closet, dual vanities and large tub. The owners spared no expense adding extra cabinets throughout. Plantation shutters and blinds on all the windows makes this a move in ready home. The community pool is just blocks away, best of all someone else takes care of it. Let's not forget about the solar system, your APS bill will be less than $50.00 per month, your APS bill will be less than $50.00 per month some months you will even receive a credit, best of all the 2 HVAC systems are newer. Enjoy the 2 different community pools and splash pad areas, perfect for cooling off. Hurry, this one will not last!

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10053 E Seismic Avenue Mesa, AZ 85212

$730,000

3 Beds

2.5 Baths

2,462 SqFt

Status Active

MLS # 6698479

Property Type Single Family Residence

Price Type --

Welcome to your dream home in coveted Eastmark community! This stunning 3 bed, 2.5 bath residence boasts 2,462 sqft of modern luxury. Dive into relaxation with your own private pool or unwind on the covered patio. Built in 2018, it showcases contemporary finishes throughout. Enjoy the convenience of a 3-car tandem garage. Plus, indulge in all the perks of Eastmark living, from parks to community events. Don't miss out on this perfect blend of comfort and convenience!

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2323 N Central Avenue Unit 301 Phoenix, AZ 85004

$730,000

3 Beds

2 Baths

1,812 SqFt

Status Active

MLS # 6681477

Property Type Apartment

Price Type --

Owners offering seller credit for rate buy down, HOA fees or whatever Buyer(s) wish, so what are you waiting for? This unit is move in ready and priced to SELL! One of only a handful of 3 bedroom units and features floor-to-ceiling views with wrap-around balconies, this stunning home offers sweeping views of the valley from every room. This home features an updated & expanded kitchen with a large island, tons of cabinetry & wall ovens that would make Julia Child swoon. Primary bedroom features sweeping views of Camelback Mountain, walk-in closet & beautifully appointed bath. The 2 ancillary bedrooms are equally impressive & EACH feature tons of storage & direct balcony access! Wood-look tile throughout, this is the ultimate in easy living. Amenities galore, Regency is like living in a resort with heated pool, new gym, ROC Room and staff including 24/7 door personnel, porters, on-site manager and a full maintenance staff, too. Lock-and-leave lifestyle like no other, your taxes are also half off*. And the HOA covers AC, heat, water, sewer, trash, full staff, blanket insurance and more.

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2626 N 19th Avenue Phoenix, AZ 85009

$730,000

3 Beds

3 Baths

2,226 SqFt

Status Active

MLS # 6725672

Property Type Single Family Residence

Price Type --

Nestled in the charming & highly sought-after Encanto Estates, this stunning 3-bedroom, 3-bathroom home offers an unparalleled living experience. The property sits on an expansive lot over 15,000 sq ft, providing ample space for outdoor activities & relaxation. The large pool is perfect for cooling off during hot Phoenix summers & offers a great spot for gatherings with family & friends. This home also boasts a 4-car tandem garage, providing space for cars & storage. Encanto Estates is known for its unique blend of mid-century modern architecture, & this home is no exception. Experience the charm & elegance of a home designed with both style & functionality in mind. With its prime location & beautiful design, it offers a unique opportunity to own a piece of Phoenix architectural history

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2363 W Detroit Place Chandler, AZ 85224

$730,000

6 Beds

3 Baths

3,321 SqFt

Status Active Under Contract

MLS # 6713527

Property Type Single Family Residence

Price Type --

Motivated seller! This home in the Heart of Chandler with top schools and only minutes away from Chandler Fashion Square Mall. Gorgeous upgrades and beautiful pool. Quiet Cul-de-sac lot next to greenbelt. Four large bedrooms & a loft upstairs, plus a large den/office or 5th bedroom downstairs plus 3 walk in closets gives plenty of room and storage for everyone. Gorgeous granite countertop in kitchen and bath rooms. Kitchen boasts large island, walkin pantry, dine-in-kitchen and formal dining. Beautiful travertine floor is in kitchen, living room, dining room and family room. Backyard enjoys a sparkling pool, covered patio, grassy play area, and fruit trees. Close to shopping, retail, restaurants & freeway access.

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677 W Hemlock Way Chandler, AZ 85248

Open House

New

$730,000

4 Beds

2 Baths

2,090 SqFt

Status Active

MLS # 6760655

Property Type Single Family Residence

Price Type --

From the minute you step into this gorgeous 4BR 2B single level home, you know you have arrived! Light & airy open floorplan, luxury vinyl plank flooring, wood accented pillars, niches & ambient fireplace, creates an inviting environment for gatherings or a quiet evening at home. The kitchen is the heart of this home, attention to detail is evident w/a plethora of timeless white cabinetry w/glass fronts. Quartz countertops, tile backsplash, stunning hood, high end stainless steel appliances, induction cooktop, & built in wine rack. Popular split floorplan, luxurious primary suite w/door to pool, walkin closet w/built ins, WC. All this located in the heart of the upscale community of Ocotillo, surrounded by great schools, golf, winding roads, lakes, shopping & dining. More.. Three bedrooms on the other side in this split floorplan are off the kitchen. New windows in key locations. Lots of natural light throughout, dual sliding doors lead out to the patio, pool and views of the greenbelt, lots of grass, you don't have to mow! Easy maintenance yard. Three car garage, lots of room for your toys. The third garage bay, split has a built in workspace. Smart lights, Ring, 2 Trane units (2019). This is the good life. See full list of upgrades in documents tab. Info on induction cooktop: Induction is really taking over the gas range market. Chefs are opting for induction, because it responds even faster than gas, quick response was the reason they loved gas, uses less energy, saving them $$$. It also, boils water in record time, surface doesn't get hot, so the kitchen stays cooler and the cooktop is easier to clean, food doesn't burn on. It works through a magnetic connection with the cookware. Cast iron works great, and many pots and pans you already have, or look for INDUCTION ready on new cookware. A quick test with a magnet, if the magnet connects, its ready!

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23109 N Cardenas Drive Sun City West, AZ 85375

$729,900

3 Beds

2.5 Baths

2,726 SqFt

Status Active

MLS # 6756398

Property Type Single Family Residence

Price Type --

This is a beautiful spacious Alameda Model (2726sq ft) home. It has 3 bedrooms w/2.5baths, enter into the Living/Dining Rm A wall of windows looks out at your gorgeous private yard. To the left is your modern Kitchen w/Blk SS Appliances & Blk Granite Counters w/custom backsplash. Adjacent to the Kitchen is the Family Rm- great for entertaining guests. On the opposite side of the home is the Primary Bdrm Suite - spacious and bright. A Split Floor plan w/2 guest rooms + a Office/Den and a Powder Rm. The yard is Private, it looks out at the Walking Paths & is raised well above them for Privacy. The yard is spectacular - there is a built in SPA, under a Pergola, built in BBQ w/hot plate & Frig. The patio has an Electric Awning, Electric Sun Shade, & Arizona Mist Sys - YOU MUST see this home

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