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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22203 N Tournament Drive Sun City West, AZ 85375

$725,000

2 Beds

2.5 Baths

2,564 SqFt

Status Active Under Contract

MLS # 6745539

Property Type Single Family Residence

Price Type --

Enjoy the spectacular views from your expansive windows of an unrestrictive view of the 9th hole of the Deer Valley Golf course and the white tank mountains. Spectacular views, no houses in sight. Several updates throughout the years such as new windows flooring, bathrooms, kitchen and paint. Enjoy a $22.00 per month APS bill in the summer with outright owned solar panels. Enjoy the spacious bedrooms and office/den with built in bookshelves, drawers, shelving for books of this beautiful home. This home will not disappoint. Just a short ½ mile distance from the Palm Ridge Recreation center and on the Deer Valley golf course the location. Strong sense of community, excellent amenities, and convenient access to everything residents might need.

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3834 N 42nd Place Phoenix, AZ 85018

$725,000

3 Beds

2 Baths

1,440 SqFt

Status Active

MLS # 6742424

Property Type Single Family Residence

Price Type --

Charming home in Arcadia Lite just waiting for the right owner to transform this gem into their dream home. Walk into a spacious great room with a split 3 bed/2 bath floor plan with plenty of windows to bring in the natural Arizona sunshine. Move in and remodel or utilize the great lot and rebuild! Don't miss out on your opportunity to purchase in one of the most desired zip codes in Phoenix.

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4805 N Woodmere Fairway -- Unit 2007 Scottsdale, AZ 85251

$725,000

2 Beds

2 Baths

1,378 SqFt

Status Active

MLS # 6753847

Property Type Apartment

Price Type --

Centered in the middle of Old Town Scottsdale and surrounded by the best restaurants, high end shopping + boutiques, 5 star luxury resorts, Camelback Mountain, hiking, & the buzzing nightlife, is The Sage Luxury Condominiums. For those desiring the low maintenance lifestyle, with everything at your fingertips, this is the one! With 2 bedrooms and 2 bathrooms, the 1,378 sq ft condo, features French oak floors, open concept kitchen-dining-living, cozy gas fireplace, sunset/camelback mountain views, split floorplan, custom cabinetry throughout, granite + marble countertops, plantation shutters, the list goes on. The community amenities can't be beat: with the elevator entry, no interior steps, gated underground parking with EV charging stations, heated pool & spa, fire pits, grill area, cabanas, clubhouse/rec room with 2 gyms, and a private wine cellar with tasting room AND this condo comes with it's own private wine locker. The Scottsdale Lifestyle is calling, pick up!

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19334 W Pasadena Avenue Litchfield Park, AZ 85340

$725,000

5 Beds

3.5 Baths

3,072 SqFt

Status Active

MLS # 6726453

Property Type Single Family Residence

Price Type --

GORGEOUS, SPACIOUS HOME ON PREMIUM, CORNER LOT! STARTING W/ THE WONDERFUL CURB APPEAL & INVITING COUTRYARD ENTRANCE, THIS HIGHLY UPGRADED HOME IS SURE TO IMPRESS YOU! FABULOUS KITCHEN W/ WOLF OVEN & MICROWAVE, GAS COOKTOP, BUILT-IN S/S REFRIG., TILED COUNTERTOPS/BACKSPLASH & LOTS OF CABINETS IS COMPLETE W/ BREAKFAST BAR, ISLAND, PANTRY, & BREAKFAST ROOM. POPULAR GREAT RM CONCEPT W/ SEP. DINING AREA. TERRIFIC SPLIT-BR FLOOR PLAN, WITH 3 OTHER BEDROOMS & CHARMING GUEST SUITE TO BOOT! EXPANSIVE MAIN SUITE HAS COZY FIREPLACE & SEP. EXIT. INSIDE LAUNDRY. POWDER ROOM. THIS 5 BR/3.5 BATH W/ 3 CAR GARAGE (TANDEM) IS LIKE A MODEL W/ PLANTATION SHUTTERS, & DESIGNER TOUCHES T/O! BEAUTIFUL TILE & LAMINATE FLOORING. BACKYARD PARADISE INCLUDES COV. & OPEN PATIOS W/ PAVERS, WATERFALL, & FIREPIT!

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20939 E Mayberry Road Queen Creek, AZ 85142

$725,000

5 Beds

4 Baths

3,158 SqFt

Status Active

MLS # 6758721

Property Type Single Family Residence

Price Type --

Why by new?! This meticulous home has Stunning upgrades & a finished backyard. Kitchen boasts quartz counters, gourmet cafe' appliances, large island, upgraded cabinets(including pull out shelves,hardware & soft close), huge walk in pantry plus butler's pantry. Gorgeous shutters, upgraded light fixtures & fans, ADDED CUSTOM BUILT INS throughout, wood look tile, & surround sound. You will love the shiplap, wall molding accents that really add to the charm! STORAGE+! Great room floorpan. Primary Bdrm & 1 secondary Bdrm on main level. Walk in closets in all bedrooms.En suite secondary Bdrm. 3 car garage w/ tons of custom built in cabinets. Spectacular location!! Within walking distance to all the favorite shopping, eateries & entertainment! Highly Rated Schools! So Many Extras in this home!

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48031 N 7th Avenue New River, AZ 85087

$725,000

3 Beds

2.5 Baths

2,321 SqFt

Status Active

MLS # 6744689

Property Type Single Family Residence

Price Type --

Sante Fe Style Home with Mountain and Desert Views in New River, Arizona. This thoughtfully designed 3-bedroom plus office residence offers an inviting open floor plan. Nestled on a 1.25-acre lot, this property has views of the surrounding mountains and desert. As you step inside, you'll be greeted by natural light that highlights the living areas. The recently installed new shutters throughout the house allow you to control the amount of sunlight. The kitchen flows effortlessly into the dining room and family room. Outside, the 1.254 acre lot presents endless possibilities, including the potential to create your own horse property. The property is complemented by a 4-car garage.

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5653 S Crowley -- Mesa, AZ 85212

$725,000

2 Beds

2.5 Baths

2,470 SqFt

Status Active

MLS # 6732727

Property Type Single Family Residence

Price Type --

Welcome to this wonderful home nestled in the Encore at Eastmark, an Active Adult Community. This community boasts top-tier amenities including pickle ball courts, a fitness center, swimming pools, walking paths and more. This immaculate single-level home features an open floor plan with neutral tones with wood and tile flooring. The entry opens to a dedicated office and formal living room, while a private-entry guest suite adds convenience for hosting. Primary suite has a large walk-in shower, expansive closet and double sinks with quartz counter tops. The heart of the home is the eat-in kitchen, complete with a large center island, gas cooktop, breakfast bar, and stainless steel appliances, along with a walk-in pantry and a butler's pantry that doubles as an additional office or hobby room. Enjoy the covered patio, an outdoor pergola, built-in BBQ, and an outdoor fireplace with family and friends. Located within walking distance to all community amenities, this home offers a luxurious, comfortable lifestyle in one of Mesa's most sought-after communities.

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15079 W Desert Vista Trail Surprise, AZ 85387

New

$725,000

4 Beds

2 Baths

2,194 SqFt

Status Active

MLS # 6760921

Property Type Single Family Residence

Price Type --

This is home is close to Perfection !!! Horse property , no HOA in this growing area of Surprise. Corner cul-de-sac lot , w/ 3 car garage. Backyard has block fencing and 2 RV gates , bring your toys and horses!!! Water softener in garage and added 50 amp breaker to box. Kitchen features custom hood -fan, tiled backsplash , and 2 pantry cabinets , breakfast bar has granite , deep sink, built-microwave. most light fixtures/indoor-outdoor and ceiling fans were replaced. Ideal home for entertaining guest . Master bath posses luxury free-stand soaking tub , Maser bedroom has large walk-in-closet Builder warranty available , and all appliances will convey.

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20515 W Rosewood Lane Buckeye, AZ 85396

$725,000

3 Beds

2.5 Baths

2,105 SqFt

Status Active

MLS # 6739456

Property Type Single Family Residence

Price Type --

Discover this charming residence in Victory at Verrado! Excellent curb appeal, complete with a 3-car garage, a meticulously maintained front yard, and attractive pavers. Inside, the great room welcomes you with high ceilings, a neutral palette, classic white shutters, and contemporary wood-look tile flooring. The kitchen features quartz counters, abundant wood cabinetry, stylish pendant and recessed lighting, stainless steel appliances, a pantry, and a large island with a breakfast bar for casual dining. Retreat to the main bedroom, offering soft carpeting, an ensuite with dual sinks, beautiful standing glass shower, and a walk-in closet. Venture outside to the spacious backyard, which includes a covered patio, built-in BBQ, and a cozy firepit. Make this gem yours today!

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2118 E Enrose Circle Mesa, AZ 85213

$725,000

4 Beds

3 Baths

3,035 SqFt

Status Active Under Contract

MLS # 6741017

Property Type Single Family Residence

Price Type --

Welcome to this beautifully maintained 4-bedroom, 3-bathroom home located in the heart of Mesa. Nestled on a quiet cul-de-sac, this spacious property offers the perfect blend of comfort and convenience. The open floor plan features a bright and airy living area, complemented by a well-appointed kitchen with ample cabinet space and a breakfast nook. The primary suite boasts a large walk-in closet and an ensuite bathroom with dual vanities. The additional bedrooms are generously sized, offering flexibility for a home office or guest room. Step outside to the private backyard, ideal for entertaining with its covered patio and lush landscaping. Conveniently located near shopping, dining, and top-rated schools, this home is a must-see!

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25555 N Windy Walk Drive Unit 54 Scottsdale, AZ 85255

$725,000

3 Beds

2.5 Baths

2,140 SqFt

Status Active

MLS # 6743317

Property Type Townhouse

Price Type --

Elegance and seclusion in Skye Top at Troon's most desirable TH community. Renovated in latest style. Two story wall of windows w/ soaring ceilings in the great room. Charming entertaining patio & balcony off the primary bedroom, White cabinetry, granite counters, Community lagoon pool & spa w/ boulder waterfall & clubhouse w/ FP. Located in N. Scottsdale near golf, fine dining, & shopping. **** HOA fees include cable & internet.

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10173 E Conieson Road Scottsdale, AZ 85260

$725,000

3 Beds

2 Baths

1,879 SqFt

Status Active

MLS # 6754210

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful home in Scottsdale Stonebrook! Providing 3 beds, 2 baths, desert landscape, & a 2-car garage w/cabinets. Home exudes elegance with vaulted ceilings, tons of natural light, two-tone paint, plantation shutters, archways, and tile & wood floors in all the right places. The large living/dining room features surround sound & sliding doors to the back! The impressive kitchen boasts SS appliances, solid-surface counters, ample wood cabinets, a pass-through window, & a breakfast nook. Double-door main bedroom is a true retreat, offering a sitting room w/outdoor access! Its ensuite has dual sinks, separate tub/shower, & a walk-in closet. Beyond the interiors, the backyard holds its own charm! Enjoy the covered patio, fireplace, built-in BBQ, & a sparkling pool. Just WOW!

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