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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10356 E Tiburon Avenue Mesa, AZ 85212

$715,000

2 Beds

2.5 Baths

2,314 SqFt

Status Active

MLS # 6758389

Property Type Single Family Residence

Price Type --

Nicely appointed Cinema plan in Encore at Estmark. This great room plan has 2 bdrms/2.5 bths/2 dens and sits on a oversized corner lot. It boasts raised panel antiqued kitchen cabinets, granite counters, dbl ovens, gas cook top, lg island with seating & W-I pantry. The lg laundry rm offers upper cabinets, a utility sink & a 2nd lg pantry. Lg primary bdrm is split & had LV flooring, raised vanity with dbl sinks, W-I closet, W-I shower & soaking tub. Lg 2nd bdrm w/W-I closet & 2 dens for additional living space. Exit the great room to the lg covered patio with paver overlay leading to the heated/chilled pool with water feature. Lots of room to entertain with Ramada & BBQ island. Community offers pickle ball, tennis, bocci ball, a club house with workout facility & much much more!

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10297 E Clinton Street Scottsdale, AZ 85260

New

$715,000

4 Beds

2 Baths

2,048 SqFt

Status Active

MLS # 6759189

Property Type Single Family Residence

Price Type --

Nestled in the sought after Bent Tree neighborhood of central Scottsdale, this home is a rare gem! Surrounded by million-dollar properties, the sense of pride in ownership is unmistakable. Set on a large, private, corner lot, this property offers endless possibilities & No HOA. The home boasts a newer roof, all-new Performance Windows & updated AC & water heater, ensuring comfort & peace of mind. Step inside to find soaring vaulted ceilings w/ skylights that flood the living space w/ natural light. The large eat-in kitchen beckons for cozy meals, while the split master suite promises privacy & retreat. Plus, imagine biking or walking to the nearby Scottsdale Greenbelt & enjoying easy access to top schools, healthcare & freeways. Discover why Bent Tree remains one of Scottsdale's most coveted neighborhoods. Curious? Come see for yourself!

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1324 W Dove Tree Avenue Queen Creek, AZ 85140

New

$715,000

4 Beds

2.5 Baths

2,880 SqFt

Status Active

MLS # 6759624

Property Type Single Family Residence

Price Type --

Welcome home! This 4 bed 2.5 bath has an open floor plan featuring two living spaces giving you amazing functionality with tall ceilings creating a grand but cozy atmosphere. Gourmet kitchen with pro series stainless GE Monogram appliances, granite counter tops offer plenty of space to entertain. This home is meticulously maintained and still shows like a new build. Perfect size primary bedroom and bathroom with a walk-in shower and massive closet. Huge investment in upgrades including extended patios, 22,000 watt Generac generator, all garage spaces are air conditioned with mini split units and a tankless water heater. Highly sought-after Ironwood Crossing amenities that bring fun to all. Parks, community pool and the Queen Creek Aquatic center nearby.

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1653 S Navajo Way Chandler, AZ 85286

$715,000

4 Beds

3 Baths

2,321 SqFt

Status Active

MLS # 6748523

Property Type Single Family Residence

Price Type --

Beautiful, well cared for home located in a highly desired Chandler community, near Intel and just minutes away from 202 and 101 Highways. In district for Top Rated Chandler Unified School District schools. The home sits on HUGE lot (9,927sqft) & has newly refinished pool and deck (2017) w/ gorgeous waterfall, green grass, & trees to provide shade. Front yard has mature Chinese Elm tree that adds greenery & shade to the low maintenance, desert landscaped front yard. Inside is a upgraded split floor plan. Master bedroom has walk in closet, separate shower & tub, and dual sinks. Great sized bedrooms, one offering a convenient en suite. Tile throughout except carpet in bedrooms. Open floor plan, large kitchen with Island and granite tile countertops. MANY IMPROVEMENTS recently done. Pool Remodel with new pool filter, pool deck and additional concrete 2017, Window Shade screens 2018, New Carrier 16 SEER 5 ton A/C with new duct work and additional return 2018, b-Hyve Irrigation timer 2019, Replace DE Pool Filters 2021, New Garage Doors 2020, Exterior paint 2021, New Rheem hot water heater 2022, New dishwasher & microwave 2023, BRAND NEW ROOF (entire roof with transferrable 10 year warranty) 2024

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7729 N Via De Fonda -- Scottsdale, AZ 85258

New

$715,000

2 Beds

2 Baths

1,812 SqFt

Status Active

MLS # 6760240

Property Type Single Family Residence

Price Type --

Experience the allure of Southwestern living in this 2 bed, 2 bath patio home, ideally situated in the Santa Fe neighborhood of McCormick Ranch, Scottsdale, AZ. This meticulously maintained residence seamlessly blends style and comfort. The welcoming living space boasts a fireplace and rich tile flooring that extends into a well-appointed kitchen. Unwind on the expansive patio, perfect for enjoying Arizona's sunsets. The master suite offers a private retreat with an ensuite bath, while the second bedroom adds versatility for guests or a home office. Community amenities enhance the Scottsdale lifestyle, making this home an ideal desert sanctuary.

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1710 E Loma Linda Drive Wickenburg, AZ 85390

$715,000

4 Beds

2.5 Baths

2,486 SqFt

Status Active

MLS # 6680111

Property Type Single Family Residence

Price Type --

This timeless slumpblock home is located on approximately 2 acres in the Wickenburg Country Club Acres. The home is surrounded by large mature trees which provide plenty of shade and privacy. The front entryway opens up to a sunken living room with vaulted ceilings and picture windows looking out to the tropical backyard, and beyond to the horse facilities. The natural stone fireplace located off the kitchen adds warmth and charm to the heart of the home. You will enjoy family time and entertaining guests from the two trellised rear patios and diving pool which are surrounded by a slump block wall. The 1.9 acres are flat and useable land, with plenty of room to expand. This rare horse property is located in a PRIME location on paved roads, with pool and horse facilities.

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9324 W Coolidge Street Phoenix, AZ 85037

$715,000

6 Beds

6.5 Baths

3,949 SqFt

Status Active

MLS # 6729765

Property Type Single Family Residence

Price Type --

Welcome to your upgraded and spacious dream home, boasting 6 bedrooms and 6.5 bathrooms. This property is currently a successful Airbnb, offering an incredible investment opportunity. **Key Features:** - **Newly Renovated Kitchen:** Enjoy cooking in a gourmet chef's kitchen with brand new appliances, granite counters, and an oversized granite island. - **Modern Flooring:** Brand new tiled flooring throughout the home, providing a sleek and contemporary feel. - **En Suite Bathrooms:** Each bedroom comes with its own dedicated en suite bathroom, ensuring privacy and convenience for all residents. One bedroom even includes a living room, making it perfect for guests or extended family. - **Main Bedroom:** The main bedroom, located on the first floor, features an en suite bathroom for easy accessibility. - **Outdoor Oasis:** The backyard is newly paved with turf, creating a low-maintenance and water-conscious space. The upstairs balcony, which can be accessed from two bedrooms, has been newly renovated, offering a great place to relax and enjoy the views. - **Recent Upgrades:** The home has a brand new roof and was painted in 2022. Fresh paint inside and out ensures a move-in-ready experience. - **Prime Location:** Located just five minutes from the State Farm Stadium and the new hotels being built in Glendale, this home is perfectly positioned to generate consistent Airbnb income. - **Eco-Friendly Yard:** The backyard is equipped with a new irrigation system, trees, and pavers, making it both beautiful and environmentally friendly.

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3936 E Ellis Street Mesa, AZ 85205

New

$715,000

3 Beds

2.5 Baths

2,690 SqFt

Status Active

MLS # 6759067

Property Type Single Family Residence

Price Type --

Nestled in Mesa's sought-after citrus corridor, this impressive Trovita Estates home offers everything you've been searching for. Key highlights include a split great room layout, a den, walk-in closets in every bedroom, a spacious island kitchen with a generous walk-in pantry, stainless steel appliances, reverse osmosis system, water softener, and a laundry room with ample cabinetry and a utility sink. Additional features include ceiling fans, neutral paint throughout, a 3 car garage with 2 ft extension, a pavered front walk and rear patio, a double-wide RV gate with pavered parking behind, and a beautifully landscaped backyard. Within the gated community, enjoy access to citrus trees, picnic area, a playground, volleyball and basketball courts, and expansive green spaces. You'll also... benefit from nearby schools and easy access to the rest of the valley via the Red Mountain 202 and US-60 freeways.

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5300 E Wolfer Drive Tucson, AZ 85739

$715,000

5 Beds

4.5 Baths

3,178 SqFt

Status Active

MLS # 6276985

Property Type Single Family Residence

Price Type --

Welcome to your own private desert sanctuary! Nestled on a sprawling 2 acre lot, this charming home on horse property offers the perfect blend of tranquility and convenience. Located in the heart of Tucson, AZ, this property is a rare find, boasting picturesque desert landscapes and modern amenities within a gated community. As you approach this Southwestern-style gem, you'll be greeted by the inviting curb appeal with a beautifully landscaped front yard and a classic adobe-style exterior. Step inside to discover a spacious and well-maintained interior that's flooded with natural light. The open-concept living and dining areas feature vaulted ceilings, creating an airy atmosphere perfect for entertaining or relaxing with family. The kitchen is a chef's dream with ample counter space, modern appliances, and a convenient area for meal prep. Enjoy your morning coffee in the cozy breakfast nook while taking in views of the surrounding desert. The master suite is a serene escape with a generous walk-in closet and an ensuite bathroom that includes a luxurious soaking tub and separate shower. Three additional bedrooms provide plenty of space for guests, a home office, or a hobby room. Outside, the expansive backyard is a true desert oasis. The covered patio is ideal for outdoor dining and entertaining, while the meticulously maintained desert landscaping ensures minimal maintenance. Right outside your back door you'll find the panoramic view of the Catalina Mountains, unlimited horseback riding trails, along with hiking and biking trails to the Coronado National Forest for those outdoor enthusiasts. This property also includes a large detached RV garage that boasts a full bathroom and workshop, offering ample space for parking and storage. The one bathroom detached guest quarters offers a full bathroom and kitchen, making it an ideal income property or a space for guests to enjoy their own privacy. Don't miss your chance to own this unique desert retreat!

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3009 E Hemberg Drive Flagstaff, AZ 86004

$715,000

3 Beds

2.5 Baths

2,223 SqFt

Status Active

MLS # 6693899

Property Type Single Family Residence

Price Type --

Nestled amidst the breathtaking landscapes of Flagstaff, Arizona, in the esteemed Swiss Manor neighborhood, this enchanting property offers a harmonious blend of natural beauty and living. Situated near the majestic mountains, this residence boasts a prime location for outdoor enthusiasts and nature lovers alike. Step inside this spacious abode to discover a thoughtfully designed layout featuring three bedrooms plus a den, providing ample space for relaxation and productivity. With two bathrooms, including one ensuite, convenience is paramount in this mountain retreat. Ascending through the three stories of this home, you'll find yourself immersed in a world of comfort and style. With five interior levels, each offering its own unique ambiance and purpose, there's no shortage of space for living, entertaining, and unwinding. Whether you're enjoying the panoramic views from the topmost level or cozying up by the fireplace in the family room, every corner of this home exudes warmth and tranquility. Embrace the allure of mountain living while still enjoying the convenience of amenities and easy access to Flagstaff's vibrant community. With its captivating surroundings and versatile living spaces, this property offers the perfect opportunity to embrace the Flagstaff lifestyle and create cherished memories for years to come. Don't miss your chance to make this mountain retreat your own slice of paradise.

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1254 E Apricot Lane Gilbert, AZ 85298

$715,000

4 Beds

3 Baths

2,610 SqFt

Status Active Under Contract

MLS # 6736917

Property Type Single Family Residence

Price Type --

Discover your dream home in the Vista Dorada Subdivision of Gilbert. This stunning 4-bedroom, 3-bathroom residence is perfect for family living. The home features vaulted ceilings and a dream chef's kitchen, ideal for culinary enthusiasts. The spacious upstairs loft provides a versatile area for relaxation or entertainment. The backyard is designed for entertaining, making it a perfect space for gatherings and outdoor fun. Conveniently located near shopping, dining, and various outdoor activities, this home offers the ideal blend of comfort and convenience.

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9469 N 105th Street Scottsdale, AZ 85258

$715,000

3 Beds

2 Baths

1,520 SqFt

Status Active Under Contract

MLS # 6741784

Property Type Single Family Residence

Price Type --

This home is located in the highly desirable area of gated community in Scottsdale Ranch, located near major freeways, highly rated Scottsdale schools, major shopping areas and the Mayo Hospital. Home has newer HVAC System, roof, and water heater. Updated 3 bedroom and 2 bath home open floorpan and spotless. This home is a must see.

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