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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

18248 W Montecito Avenue Goodyear, AZ 85395

$699,900

4 Beds

3 Baths

2,410 SqFt

Status Active

MLS # 6733246

Property Type Single Family Residence

Price Type --

Gorgeous Single-level in Sedella Community w/HOA approved RV PARKING, Heated Pool & attached in-ground SPA, 10K+ sq ft LOT (no neighbors behind & spectacular Mountain Views), 4 beds, 3 FULL Baths, 3 Car Tandem garage! Stone accents, expansive paver driveway w/4 vehicle parking & RV Parking behind gate! Open bright interior w/beautiful tile floors, Carpet in beds, & ceiling fans! Trey ceilings in dining/flex room. Laund Stunning kitchen w/staggered wood cabinets, quartz counters, SS appliances, HUGE island w/seating, & pendant lights. Patio access from great rm, Main bed w/walk-in closet, ensuite w/TWO vanities & shutters. Entertainer's dream backyard w/tons of Travertine decking, Pool w/spa has color changing LED lights, inground cleaning system, charming gazebo & complete outdoor kitchen

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3040 Hoskinini Circle Prescott, AZ 86305

$699,900

3 Beds

3 Baths

3,288 SqFt

Status Active

MLS # 6722206

Property Type Single Family Residence

Price Type --

Welcome to this fabulous property, set on a secluded ½ acre homesite in the prestigious Tonkawa neighborhood, surrounded by mature pine trees. A gated circular drive greets you to this versatile split-level entry home, perfect for multi-generational living with separate living spaces and entrances, all under one roof. The main level features a formal living room with a charming brick surround gas fireplace and large picture windows that flood the space with natural light. The kitchen is a chef's delight, adorned with gleaming granite counters, pendant lights, and a tray ceiling, along with a breakfast bar and adjacent dining area. The master suite is an entire wing of the home and has gorgeous wood floors in the bedroom and adjoining sitting room/office, 2 closets and a full bath. An enclosed 14' x 10' Arizona room (not included in the square footage) offers an ideal flex space for your needs. The lower level, currently configured as two apartments, features two bedrooms, two bathrooms, a family room, a full kitchen, and ample storage space, making it perfect for extended family or rental income. Step outside to the incredible exterior space, where you'll find a detached 2-car garage, a large shed, a spacious back deck, a private patio, and a garden area. This picturesque, park-like backyard has been the venue for numerous weddings, thanks to its enchanting setting. The home has been meticulously maintained over the years, and earlier in 2024, all three buildings received new roofs. Don't miss the opportunity to own this unique and inviting home that combines elegance, functionality, and natural beauty.

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4523 E Kings Avenue Phoenix, AZ 85032

$699,900

3 Beds

2 Baths

1,917 SqFt

Status Active

MLS # 6742528

Property Type Single Family Residence

Price Type --

Huge Price Reduction? Newly remodeled 3 bedroom, 2 bathroom with HUGE grassed back yard. NO HOA! You will be excited to go through the custom iron door into a fresh, new open concept for entertaining. New Luxury Vinyl Flooring, New Kitchen Island with Sink, New Cabinets, New Appliances, New Cabinets in Laundry, New Bathroom Tile, New Light Fixtures. Amazing Double Doors in both family room and master bedroom. Doors open from both sides. New Roof. P.S. A few items to be completed within the next few days but was so excited to have you see it, I couldn't wait:-)

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231 W Portland Street Phoenix, AZ 85003

$699,900

2 Beds

4 Baths

1,834 SqFt

Status Active

MLS # 6747734

Property Type Townhouse

Price Type --

UNICORN ALERT! They say the key to excellent real estate is location, location, location...well..welcome home my friend! This townhome is in one of the BEST urban locations of downtown Phx! Next to Portland Park, the Japanese Gardens, Hance Park, Burton Library, the light rail, not to mention dog parks, restaurants, coffee shops, dry cleaners and more, literally steps from your front door! THIS is what people envision when they say they want a ''walkable neighborhood''! Inside is a delight: 2 large bedrooms, both en suite, plus den/office on the ground floor with 1/2 bath. The 2nd floor boasts a fantastic kitchen, formal dining, views of the park, 1/2 bath and a large living room all with balconies. 2 car garage, low and stable HOA, this one is rare, come scoop it up! It is a 10+ Home!

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10862 E Solina Avenue Mesa, AZ 85212

$699,900

5 Beds

4 Baths

3,662 SqFt

Status Active Under Contract

MLS # 6722195

Property Type Single Family Residence

Price Type --

Beautifully renovated and maintained home. Enjoy the stunning upgraded seamless quartzite countertops & backsplash in the chef's kitchen along with a walk in pantry, prep island, & instant hot water dispenser. Both HVAC units are new, and a new pool pump for the Pebble Sheen pool that includes in floor cleaning, underwater benches, & an aesthetic waterfall. Primary bath was completely redone with tall seamless quartzite surround in the luxurious shower, soaking tub, & modern light fixtures and tile. Custom granite/travertine countertops in each bathroom & laundry room. Whole house water softener and tankless water heater too. Sit under the fully covered patio cover while enjoying your breakfast or coffee as the birds chirp with year-round green & flowering surround, with low maintenanc turf, grape vines, pomegranate tree & more. This 3,660 square foot home has something for everyone including a large loft for work or leisure. The primary bedroom has an extra large walk in closet and the spacious upstairs bedrooms also include walk in closets. Guests will enjoy a first floor guest suite with adjacent full bath, or use that space as a quiet home office. Side gate access to a parking pad to store an RV or extra toys. Home is walkable to fantastic schools and is surrounded by a thriving community with new stores & restaurants. Don't miss out on this updated resort style home!Motivated seller-REnOVATED & MANY upgrades

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2935 E Trigger Way Gilbert, AZ 85297

$699,900

4 Beds

2.5 Baths

2,446 SqFt

Status Active

MLS # 6726827

Property Type Single Family Residence

Price Type --

*Beautifully Upgraded Home with Pool located in the desired Stratland Estates!* This Gem is perched on a Premium lot & features: Open Layout w/Split Floor Plan, Custom Flooring, Owned Solar Power, Dual Pane Windows, New Water Softener & Water Heater, Large Eat-in Kitchen w/ Upgrade Cabinets, Granite Countertops, Walk-in Pantry, SS Appliances, Recessed & Pendant Lighting. Backyard Oasis Boasts an Amazing Pebble-tec Pool w/Water Features, Travertine Pavers, Extended Covered Patio w/Fans & Sun Shade, Pergola at Master Bedroom Exit, Built in BBQ w/Eat at Bar, Putting Green, Synthetic Grass & High Privacy Wall. This is an Entertainer's Dream Home! Your Situated across from a Greenbelt & Amenities include: lake w/amphitheater, multiple covered playgrounds, & basketball+sand volleyball courts! There are additional features on the property worth mentioning. 2 Car Garage Garage has Epoxy Floors and Built-In Cabinets for extra storage. Huge Master Bedroom has a new sliding glass door added for direct access to your backyard & the master bath has a dual sinks, separate shower and tub + a huge walk-in closet. Beautiful Landscaping is all low maintenance. Large Greenbelt out front leads to a covered playground and BBQ area. Refrigerator is included in the sale. Some of the furniture may be negotiable or available on a separate bill of sale. This home is in one of the most sought after areas of Gilbert and near great shopping, restaurants & top rated schools. This home will go fast. This is a must see!!!

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17625 S Mustang Road Munds Park/pinew, AZ 86017

$699,900

3 Beds

2 Baths

2,142 SqFt

Status Active

MLS # 6728480

Property Type Single Family Residence

Price Type --

Beautiful 3-bedroom chalet nestled in the pines of Munds Park! This home sits on a lot on top of the sought after ''Animal Hill'' area! Enjoy the treetop views all around and even a peek a boo view of the lake on the loft deck. Newer carpet, new hot water heater, granite countertops, tongue and groove vaulted ceilings, central A/C, large wraparound deck (just painted and resealed 4-25) for entertaining and enjoying the cool Munds Park weather, updated lighting, large loft with private deck, stainless appliances, breakfast bar, open floor plan with many windows, floor to ceiling wood burning fireplace, garage and also a golf cart garage, RARE! Large Den/Office/Laundry/Mudroom on lower level, make it what you want! This spacious, clean, well-taken care of home comes

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6132 N 416th Avenue Tonopah, AZ 85354

$699,900

3 Beds

2 Baths

1,800 SqFt

Status Active

MLS # 6622812

Property Type Single Family Residence

Price Type --

Introducing a stunning remodeled home for sale! This exquisite property boasts 3 bedrooms, 2 bathrooms, and wood-like tile flooring that flows gracefully throughout. The living room and bedrooms are adorned with plush carpet, providing a cozy and inviting atmosphere. Crown molding adds a touch of elegance and sophistication to almost every room. Situated on a sprawling 2-acre horse property, this residence offers a perfect blend of luxury and nature. The kitchen is a chef's dream, featuring elegant Corian counters and a spacious center island for culinary delights. With vaulted ceilings and solar panels, this home effortlessly combines style and sustainability. Additionally, a generous 40x60 workshop awaits your creative endeavors. Don't miss the opportunity to own this remarkable gem.

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9533 E Solina Avenue Mesa, AZ 85212

$699,900

3 Beds

2.5 Baths

2,703 SqFt

Status Active

MLS # 6698544

Property Type Single Family Residence

Price Type --

INCREDIBLE 3 bed, 3 bath, PLUS teen AND flex room in this remarkable like-new residence nestled in the Eastmark Community! They say location, location, and you are in heart of it all! Incredible community with high-end amenities, easy access to multiple freeways, and shopping! The stunning chef's kitchen is a cook's delight offering a wall oven, white cabinetry adorned with crown molding, quartz counters, SS appliances, chic mosaic backsplash, walk-in pantry, butler's pantry, & an island complete with a breakfast bar. The main suite boasts soft carpet, a private bathroom with dual vanities & walk-in closet with pass-through. Let your creativity flow in the charming backyard, providing plenty of potential to become your own private oasis! Don't wait for new, see it today!

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7161 E Rancho Vista Drive Unit 2003 Scottsdale, AZ 85251

$699,900

2 Beds

2 Baths

1,307 SqFt

Status Active

MLS # 6709302

Property Type Apartment

Price Type --

Located in the sought-after Camelview community this condo placed in an excellent location within the complex. Overlooking the pool and spa the patio offers shade with just the right amount of sun light. Walking distance to world-class dining like Toca Madera, Ocean 44 and the new Caesars resort plus all the high-end shopping. This unit features clean lines an open floor plan with stainless-steel kitchen appliances, granite countertops and floor-to-ceiling windows in every room. The outdoor patio is accessible through the primary suite, providing a tranquil and quiet serenity. Italian marble countertops in both bathrooms with the primary bath showcasing a glass-enclosed shower with granite tiling. Unit comes with a 220 outlet for an EV Charger at the parking spot.

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3305 W Desert Vista Trail Phoenix, AZ 85083

$699,900

6 Beds

3.5 Baths

4,110 SqFt

Status Active Under Contract

MLS # 6707055

Property Type Single Family Residence

Price Type --

HUGE $80K PRICE REDUCTION! SELLERS ARE MOTIVATED. This beautiful property has TWO primary suites, one downstairs and one upstairs. This property offers a total of 6 spacious bedrooms with large walk-in closets, plus an office with built in bookshelves. This property offers 3.5 bathrooms. The home has a gourmet kitchen offering granite counters, double ovens, 2 pantries and large island. Both primary suites have access to the backyard, the first-floor primary has separate exit to full-length covered patio, the upstairs primary has access to the large balcony. The upstairs has a large loft with dry bar (can be converted to wet bar). The property also offers Nest Thermostats, Hue lights, Wood Blinds throughout, Gladiator Shelving in garage, patio misters and TWO RV gates. Washer/Dryer new in 2019. New microwave in 2024.

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7200 E Ridgeview Place Unit 8 Carefree, AZ 85377

$699,900

3 Beds

3.5 Baths

2,679 SqFt

Status Active

MLS # 6643277

Property Type Townhouse

Price Type --

Location is everything & this location is the very best & walkable to downtown Carefree! From this quaint 10 townhouse village, Clarendon Estates is near fine dining, shops & all services & align the streets along with special events. This unit offers 3 bedrooms, 3.5 bathrooms, w/primary on main living level, 2 car garage w/ direct entry into the home & 2 additional bedrooms w/ baths on the upper level. A heated pool & spa top off the grounds. Living spaces are generous for relaxation & entertaining. All of this behind gates. Walk to town & enjoy all that Carefree has to offer. It's just steps away!

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