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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3307 Durango Drive Happy Jack, AZ 86024

$699,000

3 Beds

3 Baths

1,705 SqFt

Status Active

MLS # 6754211

Property Type Single Family Residence

Price Type --

Introducing this newly completed custom cabin that perfectly blends rustic elegance with modern comfort, nestled among the tall pines on just under an acre. This stunning retreat features 3 bedrooms and 2 bathrooms in the house, designed with exquisite custom woodwork throughout. The heart of the home is the spacious kitchen, where a massive quartzite island takes center stage, complemented by upgraded stainless steel appliances and a wine fridge, perfect for entertaining. The cozy living area boasts a beautiful wood-burning/propane brick fireplace , offering warmth and ambiance on cool evenings. Adding to the property's charm is an oversized garage, complete with its own bathroom featuring a tiled shower and a convenient kitchenette. This space i ideal for guests, a workshop, or additional living quarters. Enjoy the perfect blend of rustic charm and luxurious living in this truly unique property.This custom cabin is equipped with a tankless hot water heater, providing on-demand hot water, and a soft water system that ensures enhanced water quality throughout the home. These modern upgrades add to the convenience and comfort of living in this beautifully crafted retreat. Garage and house both have foam insulation. Gas furnace and AC for your comfort!

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26119 S 196th Street Queen Creek, AZ 85142

$699,000

3 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6738050

Property Type Single Family Residence

Price Type --

Discover your dream equine retreat in the heart of Queen Creek! This charming country farmhouse is nestled on 1.2 flat acres of premium horse property, offering breathtaking views of the majestic San Tan Mountains. Situated on a County Island with no HOA, this home is designed with horse enthusiasts in mind. The property features three shaded stalls, an expansive grooming and tack area, and a nearly new tack shed, ensuring all your equestrian needs are met. Enjoy the generous turnout and riding area, complete with a 50-foot round pen that's perfect for training and exercise. The inviting farmhouse has recently undergone thoughtful renovations, including fresh paint, new vinyl flooring, contemporary baseboards, a stylish breakfast bar, and new blinds throughout the home. The guest bathroom has also been beautifully remodeled, adding to the home's charm and functionality. This property is truly a haven for horse loversbring your horses, your toys, and make this picturesque home your own! Located just minutes from Horseshoe Park & Equestrian Center, miles of picturesque riding trails, and an abundance of shopping and dining options, you'll have everything you need right at your fingertips. Don't miss this exceptional opportunity to own a slice of equestrian paradise, where country living meets city convenience!

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3210 N 108th Lane Avondale, AZ 85392

$699,000

4 Beds

2.5 Baths

2,672 SqFt

Status Active

MLS # 6752175

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and tranquility in this stunning LAKESIDE home + private BOAT DOCK+ HEATED POOL. - Inside partially RE-DONE in 2022!! Featuring 4 spacious bedrooms and a versatile loft, ample space for relaxation and entertaining. Step out onto the full-length balcony to enjoy breathtaking views of the serene lake and sparkling pool. The OWNERS SUITE is thoughtfully located DOWNSTAIRS. This vibrant lake community offers a wealth of amenities, including walking and activity paths, parks, and frequent community events. The LOW HOA fee, paid semi-annually, covers maintenance of common areas, fountains, and lakes, ensuring a well-kept neighborhood. Conveniently located near major access routes, shopping, dining, schools, and the Westgate Entertainment District... Owner's suite is thoughtfully located on the main floor, providing easy access and privacy. It boasts a luxurious bathroom with a separate shower and a full-size bathtub, perfect for unwinding after a long day. The home is adorned with light oak colored wood-look laminate flooring throughout, enhancing its bright and airy atmosphere. 2 Newer Air Conditioning Units replaced 2020 The gourmet kitchen and bathrooms feature elegant granite countertops, combining style with functionality and SMART HOME devices. The open-concept living area seamlessly connects to a covered patio, creating an ideal space for indoor-outdoor living. Dive into the sparkling pool or take advantage of the home's private dock, where you can enjoy electric boating on the lake. Large 3 Car Garage, Large Corner Lot! Conveniently located near major access routes, shopping, dining, schools, and the Westgate Entertainment District, Park West District, and Phoenix Children's Hospital, this home provides both comfort and convenience. Garden Lakes Elementary and Westview High School. 2 Harkins Theatres, AMC Theatres, Macayo's, Costco, Hobby Lobby, Canes plus a Sprouts is being built nearby! Don't miss your chance to own this lakeside paradise!

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15785 W Vale Drive Goodyear, AZ 85395

$699,000

2 Beds

2 Baths

1,829 SqFt

Status Active

MLS # 6757362

Property Type Single Family Residence

Price Type --

Stunning Pebblecreek Palmera Model that has been completely remodeled. This exquisite home has been meticulously custom crafted to offer modern luxury & ultimate comfort. As you approach, you're greeted by a striking custom 8' glass door entry, setting the tone for all that lies within. Step into the den, featuring French doors and an art glass transom, perfect for a home office, 3 BR or a cozy retreat. The kitchen is a chef's delight, w/quartz countertops, new SS appliances, & Euro design cabinetry. The redesigned family room, features a tile-faced fireplace and an open, inviting layout. The primary suite includes an extended walk-in shower. Laundry room has been thoughtfully reconfigured with custom cabinetry and a wine fridge. Step outside to the new sparking pool, waterfall & misters

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7308 E Solano Drive Scottsdale, AZ 85250

$699,000

3 Beds

2 Baths

2,457 SqFt

Status Active

MLS # 6725429

Property Type Single Family Residence

Price Type --

Welcome to this inviting three-bedroom, two-bathroom home boasting a 10' ceiling in the great room. Enjoy the large covered patio and inviting swimming pool, accessible from the living room, family room, and primary suite. The backyard features low-maintenance artificial turf, ideal for a lock-and-leave lifestyle. You'll love the updated interior panel doors and mahogany front door. The spacious primary suite offers a huge bathroom with double sinks, a separate tub, and a shower. Conveniently located near Scottsdale and Paradise Valley dining, nightclubs, shopping, arts centers, golf courses, spring training fields, hiking and bike trails, parks, and the upcoming Ritz Carlton Resort, with easy access to Loop 101. This retreat is perfect for entertaining and a wonderful place to call home!

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9728 N 106th Place Unit 154 Scottsdale, AZ 85258

$699,000

2 Beds

2 Baths

1,378 SqFt

Status Active

MLS # 6746115

Property Type Single Family Residence

Price Type --

Come and see this updated home in a very desirable Scottsdale location. Great backyard area, access from the master, living room and dining room. Large den separates the two bedrooms. Tile throughout, No Carpet and nicely updated Kitchen and bathrooms. Community Pool and spa, common areas, front yard all maintained by HOA. Scottsdale Senior Center is just across the street. A MUST SEE!!!

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5816 E Montara Place Mesa, AZ 85215

$699,000

3 Beds

2 Baths

1,913 SqFt

Status Active

MLS # 6750031

Property Type Single Family Residence

Price Type --

CURRENTLY UNDER CONSTRUCTION. Beautful new home underway. Spacious floor plan with an oversize 2 car garage with an extra golf kart garage. Stunning elevation. See pictures for more details.

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7114 E Hacienda La Colorada Drive Gold Canyon, AZ 85118

$699,000

4 Beds

2 Baths

2,344 SqFt

Status Active

MLS # 6748476

Property Type Single Family Residence

Price Type --

Stunning & Immaculate 4 Bedroom PLUS Office Home Features Gorgeous Rear Superstition Mountain Views, Private Sparkling Pool, 3 Car Garage & LOTS More! Tile T/O, NO Carpet in Home, Granite & Corian Counters, Upgraded Appliances, Gas Fireplace In Family Room, Upgraded Fans, Fixtures and Hardware T/O, Designer Accent Paint, Custom Window Treatments & The List Goes On! Hard To Find Premium Location - Beautifully Appointed Home!

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2771 E State Route 260 Highway Overgaard, AZ 85933

$699,000

4 Beds

2.5 Baths

3,208 SqFt

Status Active

MLS # 6752564

Property Type Single Family Residence

Price Type --

Here's your opportunity to own a piece of nostalgia with the storied Irish Castle. The exterior retains its original castle charm, continuing to captivate passersby with its unique appeal. Inside, you'll find a completely renovated space that masterfully blends modern comforts with the exterior historic character. This landmark offers a distinctive blend of old-world charm and contemporary interior living. This would make an outstanding bed & breakfast or airbnb with 4 bedrooms, 2.5 baths, huge kitchen and separate gathering spaces. All updates have been done within the last 2 years which include items such as mini splits in each room, new roof, new septic, flooring, painting, windows, spray insulation and so much more. Complete list of updates/upgrades updates/upgrades attached.

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1034 E Hiddenview Drive Phoenix, AZ 85048

$699,000

5 Beds

3 Baths

2,711 SqFt

Status Active

MLS # 6739454

Property Type Single Family Residence

Price Type --

STUNNING & IMMACULATE FOOTHILLS HOME LOCATED ON A CORNER LOT*5 BEDROOM, 3 BATH, & BEAUTIFULLY REMODELED*GRAND FOYER*LIVING & DINING ROOM*FAMILY ROOM W/FIREPLACE*LARGE KITCHEN W/ISLAND, SLAB GRANITE, RECESSED LIGHTING, S/S APPLIANCES, & WALK-IN PANTRY*HUGE MASTER SUITE WITH VIEW, SITTING AREA, & FIREPLACE*MASTER BATH WITH SEPARATE TUB & SHOWER & WALK-IN CLOSET*3 MORE BEDROOMS UPSTAIRS*ADDITIONAL BEDROOM (OR OFFICE) DOWNSTAIRS WITH OWN BATH*UPGRADED FIXTURES THROUGHOUT*LAUNDRY ROOM WITH NEW WASHER/DRYER INCLUDED*PARADISE PERFECT BACKYARD WITH COVERED PATIO, SPARKLING POOL, TURF, MATURE TREES, AND SPACE FOR EVERYONE*NEWER ROOF*3 CAR GARAGE WITH EPOXY*AMAZING SCHOOLS, CLOSE TO DESERT FOOTHILLS PARK, CLOSE TO SHOPPING & FREEWAYS*THIS IS A HIGHLY DESIRED LOCATION IN THE FOOTHILLS!!!

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1976 E Chilton Drive Tempe, AZ 85283

New

$699,000

4 Beds

2.5 Baths

2,769 SqFt

Status Active

MLS # 6758534

Property Type Single Family Residence

Price Type --

Beautiful impeccably maintained 4-bed/ 2.5-bath home in the highly sought-after Tempe Lake Community of Oasis at Anozira. Single level open floorplan with tons of natural light and vaulted ceilings thru out. Kitchen opens into family room and has tons of counter space , granite counters, and walk-in pantry. Huge split master bedroom with patio access, large bathroom including double sinks, separate shower and tub, and walk in closet. Backyard includes a large, covered patio, fountain, and lush landscaping. Walking paths and green areas thru out. Just minutes away from Trader Joe's, Sprouts, bookstores, shopping and dining. Easy access to the 101 freeway. Home is move in ready or do your own remodel. Seller has vacated home. Home to be sold AS-IS. Come see all this home has to offer.

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2427 E Mcdowell Road Phoenix, AZ 85008

$699,000

3 Beds

2 Baths

1,561 SqFt

Status Active

MLS # 6696950

Property Type Single Family Residence

Price Type --

Looking for a Lucrative Investment Opportunity in Phoenix, AZ? Look No Further! This Stunning Property is Located at 2427 E McDowell Rd and is currently being used as a Home/Office that offers C-2 Commercial and R-3 Multiple Family Zoning with Road Frontage on Mcdowell Road. Key Features: Prime Location: Nestled in the heart of Phoenix, enjoy easy access to downtown, shopping centers, restaurants, and major highways. Rear lot of Property is Currently Leased for $600.00 Per Month for Storage. Unfinished Basement is a Bonus for Estimated 761 Sq Ft of Additional Storage. Property Has So Much Potential! 24th St and Mcdowell!

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