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.

Whats 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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35571 N Tonto Road San Tan Valley, AZ 85144

$699,900
5 Beds
3.5 Baths
3,204 SqFt
Status Active
MLS # 6666033
Property Type Single Family Residence
Price Type --
Beautifully Landscaped Master Planned Community by Fulton Homes. Located within minutes of major shopping, restaurants, and freeways. Promenade is at the base of the San Tan Mountains. There are Six Parks throughout the community, one of which is an Aquatic Center with a 7,400 square foot pool. Full basketball and sand volley ball courts. Bocce ball court, pickle ball court, and corn hole are available. Ramada's, Tot Lots, BBQ's, an entry waterfall, and acres of landscaped and grass areas make Promenade your Oasis in the Desert. We look forward to meeting you soon.

18035 W Paseo Way Goodyear, AZ 85338

$699,900
5 Beds
3 Baths
3,062 SqFt
Status Active
MLS # 6701238
Property Type Single Family Residence
Price Type --
Nestled within the prestigious Estrella Mountain Ranch, this captivating 2-story residence exudes timeless elegance and offers an abundance of luxury living space. Boasting 5 bedrooms, 3 bathrooms, and a split 3-car garage, this home epitomizes comfort and sophistication. Situated on a prime cul-de-sac lot, the home's exterior is adorned with a meticulously maintained front courtyard, setting the stage for the serene tranquility that awaits within. Step through the grand entrance and be greeted by a wealth of living space, meticulously designed to accommodate every need and desire. The heart of the home beckons with a stunning gas fireplace adorned with stone surround, and majestic mountain views creating a cozy ambiance in the formal dining area and eat-in kitchen. CLICK MORE! A convenient bedroom on the lower level, complete with a full bathroom and private courtyard exit, offers versatile accommodation options, perfect for guests or as an in-law suite. Ascending the staircase reveals four expansive bedrooms, each offering breathtaking views of the surrounding landscape. The expansive master suite features a luxurious-sized retreat area, providing a peaceful sanctuary for relaxation and rejuvenation. Two of the bedrooms boast walk-in closets, ensuring ample storage space for every member of the household. The gourmet kitchen is a chef's delight, appointed with Maytag stainless steel appliances, a kitchen island, granite countertops, a breakfast nook, and a spacious pantry. Newly painted exteriors complement the sleek bamboo flooring that graces every room, accented by 5-inch baseboards and plantation shutters for a touch of refined elegance. The home offers a built-in sound speaker system for outdoor and indoor enjoyment located in the Living room, Master, and 2nd living room/ Home Theater room. No detail has been overlooked in this meticulously maintained home, with upgrades including a new water system, a state-of-the-art saltwater pool system, and upgraded storage cabinets in both garage bays. Outside, the resort-style backyard beckons with a private pool and built-in BBQ, providing the perfect setting for outdoor entertaining against a backdrop of unobstructed mountain views. While the home offers an unparalleled retreat from the outside world, the amenities of the Estrella Mountain community beckon just beyond your doorstep. With two additional community pools, workout facilities, walking paths, and breathtaking views of the Sierra Estrella mountains, every day presents a new opportunity for adventure and relaxation. Don't miss your chance to call this exceptional residence home and experience the unparalleled lifestyle that awaits in Estrella Mountain Ranch. Prepare to embark on a journey of luxury living unlike any other.

3993 W Talc Drive San Tan Valley, AZ 85144

$699,900
4 Beds
3.5 Baths
2,880 SqFt
Status Active
MLS # 6745758
Property Type Single Family Residence
Price Type --
MOVE-IN READY, better than a new build or spec home. This 4 bed, 3.5 bath with 4 car garage dream home is waiting for you! Custom features include tile plank flooring throughout, kitchen with backsplash, custom cabinets with pull-out drawers, quartzite countertops, gas chef range and beverage fridge. Master suite with walk-in closet, master bathroom features a large walk-in shower with custom tile surround, free-standing tub, vessel sinks with his and her vanities and faucets. All upgrades done by an interior designer. Large bedrooms and one w/private bath, walk-in closet. Bedrooms are split from the master with a large bonus room. Sliding wall of glass from great room that leads out to the extended patio. Private backyard with no two stories behind you.

8781 S Coyote Song Lane Hereford, AZ 85615

$699,900
6 Beds
4 Baths
3,237 SqFt
Status Active Under Contract
MLS # 6665617
Property Type Single Family Residence
Price Type --
THIS IS IT! Absolutely incredible property on over 18 acres of beautiful land with stunning views all around. The main house has apx. 2,367 square feet and features a gourmet kitchen, a split bedroom floor plan and 4 bedrooms w/ 3 full baths. Luxury and large primary suite has a beautiful bathroom with dual sinks, garden tub, walk in closet, and separate shower. Formal dining room + a large eating area or additional living space off the great room. Separate den/office in the front of house. Detached 2 bed/1 ba guest house has a nice kitchen and spacious living room. Attached 2 car garage is apx. 521 sq. ft & detached 3 car garage is over 1,100 sq ft! The backyard has a block fence and features covered patio, inground pool and spa. This is a one of a kind, spectacular property!

7627 E Sandia Circle Mesa, AZ 85207

$699,900
3 Beds
2 Baths
2,226 SqFt
Status Active Under Contract
MLS # 6674340
Property Type Single Family Residence
Price Type --
Beautiful single story home in the desirable gated community of Las Sendas! New interior paint throughout and all new modern light fixtures make this neutral palette home turnkey and ready for you! This well-maintained and meticulously clean home sits on a generous sized elevated corner lot, with a pool, grassy area, and covered patio with a built in BBQ - perfect for outdoor entertaining! This 3 bed + den is a popular & rare floor plan that has a spacious great room and vaulted ceilings. The large front den is set up as an office with tastefully selected newly installed french doors. All bedrooms and den have plantation shutters. Amenities include two community pools/spas, splash pad, playgrounds, sport courts, hiking/biking paths and groups/clubs for every interest. Neighborhood attractions include the Las Sendas Spa & Fitness Club, Trailhead Members Clubhouse, Las Sendas Golf course & restaurant. Your desert oasis waits! Temporary 1-0 Buydown offered by preferred lender for qualified buyers!

10505 E Cinnabar Avenue Scottsdale, AZ 85258

$699,900 - 3Br/3Ba -  for Sale in Heritage Village Unit 4 Phase 2, Scottsdale
Open House
New
$699,900
3 Beds
2.5 Baths
2,079 SqFt
Status Active
MLS # 6759856
Property Type Townhouse
Price Type --
Discover this beautifully updated single-level home with an exceptional floor plan offering 3 bedrooms and 2.5 baths, including two ensuite bedrooms for added privacy and convenience. There's also a versatile third room that could function as a bedroom, den, or office, complete with its own half bath. Located in the highly desirable Heritage Village IV, part of the vibrant 55+ Scottsdale Ranch community. Meticulously maintained and thoughtfully upgraded, the property features newer flooring, fresh paint, an upgraded kitchen, and a fully renovated master walk-in closet. The outdoor patio, complete with new pavers, beautiful landscaping, a lemon tree, and a retractable awning, provides a peaceful retreat. Heritage Village IV offers access to amenities like heated pools, spas, tennis courts, and a clubhouse. Residents also enjoy access to the 42-acre Lake Serena for boating and recreation. With vaulted ceilings, natural light from skylights, a wet bar ideal for entertaining, and close proximity to Scottsdale's best dining and shopping, this home offers both style and comfort in a vibrant, active community.

29621 N 129th Lane Peoria, AZ 85383

$699,900 - 2Br/2Ba -  for Sale in Trilogy At Vistancia Parcel C4, Peoria
Open House
New
$699,900
2 Beds
2 Baths
1,580 SqFt
Status Active
MLS # 6760570
Property Type Single Family Residence
Price Type --
STUNNING 'Monaco' model with NEW LG French-door refrigerator, Premium Staggered Cabinets w/ convenient roll out drawers, trash/recycle, large pantry and R/O. PRIVATE BACKYARD boasts a COVERED PATIO with lovely TRAVERTINE Pavers. Patio overlooks a gorgeous HEATED POOL WITH WATERFALL, along with Desert WASH & Peek-A-Boo GOLF COURSE view. FULLY FENCED wrought iron view fence. Resort living at its finest. PREPAID LEASED SOLAR-6.16 kW (Installed 2014) SheaXero Energy Efficient. EXTERIOR HOME, Fence & Garage Door PAINTED 2023. 4 FT. EXTENSION in garage, Epoxy & built in CABINETS, Softwater System & Pedestrian Door. Incredible CURB APPEAL! PAVER FRONT WALKWAY/PORCH, artificial turf, professionally landscaped front & back with PVC drip system & automatic timer. The den includes CUSTOM BUILT-IN bookshelves, work area, filing cabinet that overlooks the exquisite backyard & endless views. Both Bedrooms include CALIFORNIA CLOSETS Custom organizing systems, NEW TILE in Primary Bed and great views of backyard. Great Room has Custom built-in entertainment media center with crown molding, Surround sound with subwoofer. Perfect for entertaining inside & out. Make this dream home your own. This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge community park loaded with amenities.

538 N 74th Street Scottsdale, AZ 85257

$699,900 - 4Br/2Ba -  for Sale in New Papago Parkway 13 Lots 779-912 & Tr J, Scottsdale
Open House
$699,900
4 Beds
2 Baths
1,882 SqFt
Status Active
MLS # 6753424
Property Type Single Family Residence
Price Type --
Stunning fully remodeled home located in a highly desirable neighborhood in Scottsdale and NO HOA! This house boasts an open concept design blended with modern luxury. The kitchen features high-end stainless-steel appliances, quartz countertops, custom cabinetry and a spacious island. With all new flooring, fixtures, and finishes throughout, this home is move-in ready. The home's exterior has a custom designed yard. Located just minutes from Scottsdale's shopping, dining, and entertainment.

2799 N 151st Avenue Goodyear, AZ 85395

$699,900 - 5Br/4Ba -  for Sale in Goodyear Planned Regional Center Parcel 10, Goodyear
Open House
$699,900
5 Beds
3.5 Baths
3,837 SqFt
Status Active
MLS # 6739183
Property Type Single Family Residence
Price Type --
Explore this stunning 2-story gem that captivates with its stone accented facade and ample amenities including a 3-car garage and an RV gate. Energy-efficient and beautifully designed, this home features tall ceilings, wood-look flooring, a neutral color palette, and plantation shutters throughout. The versatile living/dining area offers ample space, perfect for both daily exercise and social gatherings. The heart of the home is a spacious great room, complete with a cozy fireplace and custom wall niches, ideal for entertainment setups. The kitchen is a chef's dream with rich wood cabinetry, a stone-accented backsplash, sleek granite counters, stainless steel appliances, a bay window, and a center island with a breakfast bar... Retreat to the primary suite complete with plush carpeting, a soothing color scheme, and a lavish bathroom featuring dual sinks, a soaking tub, and a spacious walk-in closet. Sizable loft serves as an excellent entertainment space, and a cozy den offers the ideal home office setup. Outside, the backyard is an oasis designed for relaxation and enjoyment, featuring a covered patio, a paver sitting area, a refreshing pool, and extensive space for outdoor activities. This exquisite home is truly a rare find and promises not to disappoint!

3544 E Topeka Drive Phoenix, AZ 85050

$699,900 - 4Br/2Ba -  for Sale in North Colony 2, Phoenix
Open House
$699,900
4 Beds
2 Baths
2,160 SqFt
Status Active
MLS # 6754046
Property Type Single Family Residence
Price Type --
Welcome to this beautifully renovated 4-bedroom, 2-bathroom home, as you step inside, you'll be greeted by stunning wood-look tile flooring throughout, complemented by fresh interior paint. The kitchen is complete w/ brand-new custom shaker cabinetry, gleaming quartz countertops, a stylish tiled backsplash, & stainless steel appliances. Each of the four bedrooms features plush new carpeting. The primary suite is a true sanctuary w/ a spacious walk-in closet & a ensuite bathroom w/ a beautiful custom walk-in shower & separate soaking tub. The fully screened-in covered patio is perfect for dining or simply unwinding while overlooking the stunning pebble tech pool. Additional features include a generous 3-car garage, providing ample storage & parking space.

2879 E Beryl Avenue Phoenix, AZ 85028

$699,900 - 4Br/2Ba -  for Sale in Paradise View 1, Phoenix
Open House
$699,900
4 Beds
2 Baths
1,944 SqFt
Status Active
MLS # 6719358
Property Type Single Family Residence
Price Type --
Nestled in the highly demanded Paradise Views neighborhood, or 'Sheaborhood', bordering the north mountain preserve; gorgeous mountain views abound. This open concept plan, family room, dining and kitchen, as well as primary bedroom frame a stunning view of Piestewa Peak. The home features an extra-large walk-in pantry/laundry room with incredible storage, 4 bedrooms, two beautifully updated bathrooms, and spacious hallway 'foyer' to primary suite. This approximately 10,000 square foot lot has plenty of room for additional vehicles, and double gates on both sides of the home with access to garden area and additional storage shed/patio. The characteristic mid-century style carport offers additional entry to pantry and kitchen. The home has been updated with chic lighting features throughout the home and recently updated, energy efficient appliances. The backyard features recently updated swimming pool, large, covered patio, playset and plenty of space to expand, and take advantage of being in this gorgeous part of the valley. Fast access to your own exit on and off the 51, you can be anywhere in the valley in minutes!

7601 E Indian Bend Road Unit 1006 Scottsdale, AZ 85250

$699,899
2 Beds
2 Baths
1,625 SqFt
Status Active
MLS # 6686598
Property Type Apartment
Price Type --
Welcome home! Located in the gated Corriente Condominiums, this charming ground-floor Perla unit epitomizes comfort and modern style. Fabulous interior showcases plantation shutters, designer paint, tons of natural light, and wood-look tile flooring w/carpet in bedrooms. If entertaining is on your mind, you'll love this desirable open layout w/a two-way fireplace! The kitchen boasts SS appliances, granite counters, recessed lighting, ample cabinetry, and a breakfast bar. Versatile den for an office! Main bedroom has an ensuite with two vanities, separate tub/shower, & a walk-in closet. Relax on your private covered patio! Don't miss the assigned two parking spots in the garage. Enjoy the Community pool & spa, clubhouse, golf course, lake views, workout facility, & EV charger and more!

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