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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2004 E Brigadier Drive Gilbert, AZ 85298

Open House

$698,900

5 Beds

2 Baths

2,375 SqFt

Status Active

MLS # 6723809

Property Type Single Family Residence

Price Type --

BEST PRICED HOME IN ADORA TRAILS SUBMIT ALL OFFERS. MAKE AND AND ALL OFFERS. Welcome to Your Dream Home in Adora Trails, Gilbert, Arizona! This one-of-a-kind, single-level, 5-bedroom, 2-bath home offers abundant space and storage, meticulously maintained by the original owners. Here's what makes this home stand out: Granite Countertops: Stylish and durable surfaces in the kitchen.No Carpet: Easy-to-maintain laminate wood flooring throughout the home. Upgraded Bathrooms: New tiles in the bathroom and laundry area, and a newly remodeled master bath (2023) with a custom walk-in shower and built-in closet system. Plantation Shutters: Throughout the entire home for added privacy and elegance. Complete Kitchen Remodel (2021): Expansion and removal of walls to create a spacious great room. The kitchen features upgraded wood cabinets, gourmet appliances, and an induction cooktop. Bonus Flex Room (2021): Can be used as a fifth bedroom, playroom, workout room, or office. Designer Beams: Adds a touch of sophistication to the main room. RV Gate: Ample parking with an expanded driveway and concrete pad. Custom Backyard: Features an added patio and pergola for outdoor enjoyment. Modern Amenities: Solar tube skylights, modern light fixtures, and ceiling fans. Situated adjacent to a grassy common area, providing a serene and spacious environment. Located in the highly sought-after Gilbert area with excellent schools. Close proximity to shopping, freeways, and miles of walking trails. This home offers an exceptional blend of modern upgrades and practical amenities, making it perfect for families or anyone looking for a spacious and well-appointed living space in a vibrant community. Don't miss out on this incredible opportunity!

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6232 E Aire Libre Lane Scottsdale, AZ 85254

Open House

$698,500

3 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6743774

Property Type Single Family Residence

Price Type --

Amazing location! Beautifully remodeled and spacious 3 bedroom 2 bath home near Kierland and Scottsdale Quarter. Split floorpan, with brand new stainless steel appliances, new electrical, new plumbing, stone countertops, updated bathrooms and new flooring throughout. Close to Kierland and Scottsdale, easy access to the 51 and 101. This won't last!

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4606 Mountain Gate Circle Lakeside, AZ 85929

$698,000

3 Beds

2.5 Baths

2,370 SqFt

Status Active

MLS # 6605122

Property Type Single Family Residence

Price Type --

Tranquil Lakeside Living: Custom 3 Bed, 2.5 Bath Oasis in Gated Mountain Gate Community. Nestled within the secure embrace of the Mountain Gate gated community, this exquisite Lakeside residence epitomizes the essence of comfortable, single-level luxury living. At 2,307 sq. ft., this meticulously maintained home offers an inviting sanctuary where no detail has been spared. Step inside, and you're greeted by an expansive open great room adorned with pine tongue and groove ceilings that soar above, adding rustic charm. The centerpiece is an inviting gas fireplace, perfect for cozy gatherings on chilly nights. The kitchen, a culinary enthusiast's dream, boasts a wealth of Hickory cabinets and a striking butcher block center island. Whether you're a seasoned chef or simply enjoy preparing meals, this space inspires creativity and functionality. The thoughtful split floor plan ensures privacy and convenience. Escape to the master bedroom, where a door opens onto a generously sized covered deck. Here, you can savor your morning coffee while overlooking the tranquil surroundings, making every day feel like a retreat. Beyond the deck, the property offers a serene oasis. The lush landscape and well-manicured grounds create a picturesque backdrop for outdoor enjoyment. Imagine hosting al fresco dinners or unwinding in your own private paradise. Positioned in the heart of Lakeside, this home provides the perfect blend of tranquility and accessibility. Whether you seek outdoor adventures in the White Mountains or a quiet evening in town, you're just moments away from all the area's attractions. Abundant natural light infuses every corner of this residence, creating a warm and inviting ambiance. An office space provides the perfect setting for remote work or creative pursuits. Impeccable attention to detail is evident throughout, showcasing the pride of ownership. Don't let this opportunity slip away! Your dream home awaits in the gated paradise of Mountain Gate. Contact me today to experience the comfort, luxury, and convenience of Lakeside living. Discover a lifestyle that combines the best of nature and modern comfort in this unique Lakeside retreat. Make this exceptional property your own and start creating cherished memories today.

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7180 E Kierland Boulevard Unit 204 Scottsdale, AZ 85254

$698,000

1 Bed

1 Bath

773 SqFt

Status Active

MLS # 6701124

Property Type Apartment

Price Type --

Don't miss your opportunity to own a FULLY FURNISHED home at Optima Kierland, the ultimate in luxury lifestyle starts here! Urban walkability and resort style amenities await you. Luxurious one bedroom suite with floor to ceiling windows & a glass door that opens to a large covered terrace with gorgeous courtyard views! Stainless steel Bosch appliances, gas cooktop and full size stacked washer and dryer. Amenities include a rooftop pool and spa, running track, cabana seating,state of the art fitness center, locker rooms, hot/cold plunge, sauna & steam rooms,massage room, indoor basketball court, gaming room, golf simulator, putting area, bocci ball, biz center, conference rooms and so much more. Walking distance to Scottsdale Quarter & Kierland Commons shops and restaurants

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26357 W Matthew Drive Buckeye, AZ 85396

$698,000

2 Beds

2.5 Baths

2,559 SqFt

Status Active

MLS # 6681516

Property Type Single Family Residence

Price Type --

ENDEAVOR ON THE GOLF COURSE! Beyond a custom glass door are Plank floors in main living areas & Plantation Shutters throughout. Great Room w\media wall & wet bar. Kitchen w\Executive Island, Quartz counters, soft close cabs w\pull outs, 2 ovens, pendant lights, R.O, walk in pantry + Butler Pantry! Owner Suite w\Quartz counters, large walk-in shower w\seat & a CA closet system. Guest suite w\walk in closet, bath w\Quartz counter & Tiled Shower w\seat. Den w\plank floors & French Doors. Garage & Cart Garage w\epoxy floors & overhead storage. Main Garage w\cabinets, sink, salt free softener & is insulated. Enjoy magnificent sunsets, mountain & golf views on the ext Travertine patio w\fire pit, Pergola, power shades & fenced yard. Plus More

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324 W Willow Avenue Phoenix, AZ 85029

$698,000

4 Beds

2 Baths

2,581 SqFt

Status Active

MLS # 6709884

Property Type Single Family Residence

Price Type --

FRESHLY PAINTED, GORGEOUS 4 BEDROOM, 2 BATH, 2,581 SQFT RANCH IN HERITAGE HIGHLANDS SUBDIVISION. LOTS OF SPACE/LARGE MASTER SUITE, 2 SPARE BEDROOMS AND A 4TH BEDROOM WITH BUILT IN BOOKCASES THAT COULD BE USED AS AN OFFICE OR BEDROOM. VAULTED CEILING FAMILY ROOM WITH WOOD BURNING, STONE FIREPLACE. LIVING ROOM AND FORMAL DINING ROOM WITH BAY WINDOWS AND WINDOW SEAT. ENGINEERED HARDWOOD FLOORS. EAT IN KITCHEN WITH REFINISHED CABINETS, QUARTZ COUNTERTOPS AND HUGE WINDOW WITH EXPANSIVE VIEW OF BACKYARD AND POOL. PROFESSIONALLY LANDSCAPED FRONT AND BACK YARDS WITH PLENTY OF COVERED PATIO SPACE IN BACKYARD, GREAT FOR ENTERTAINING! DON'T FORGET THE GORGEOUS SWIMMING POOL WITH NEW TIMER, NEW FILTER AN NEW POOL CLEANER.

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6002 W Park View Lane Glendale, AZ 85310

Open House

$698,000

4 Beds

3 Baths

3,393 SqFt

Status Active

MLS # 6699818

Property Type Single Family Residence

Price Type --

Spacious Home in Gated N Glendale Community. This 4 Bed, 3 Full Bath Home with Loft and 3-Car Garage is Bright and Open with Private Pool on Corner Lot with Mountain Views. Grand primary suite has enormous closet and large adjacent loft-perfect for playroom or home office. Bright, open kitchen has granite countertops, tons of storage and honey-toned wood cabinetry, features a gas range, stainless appliances and walk-in pantry. Downstairs guest bedroom has convenient adjacent full bath and family room includes cozy gas fireplace. Charming, tranquil neighborhood has mature trees, green belts, parks, walking paths and gorgeous mountain vistas. Walking distance to Las Brisas Elementary, quick access to I17 and 101 freeways, TSMC and the vibrant N. Phoenix district.

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22931 E Mayberry Road Queen Creek, AZ 85142

$697,953

4 Beds

3 Baths

2,407 SqFt

Status Active

MLS # 6629333

Property Type Single Family Residence

Price Type --

You'll love this very charming ''Acacia'' plan. . The home includes a Gourmet Kitchen w/ SS Chimney Hood, Beautifully upgraded 42'' cabinets, Granite C-top & Tile backsplash,, Tankless Water Heater, Service Garage Door , Atrium Door to patio, ''16 SEER RATING FOR ''AC'' ENERGY STAR HOME ! BARNEY FARMS the newest Premiere Master Planned Community in Queen Creek, w/ RESORT like atmosphere, LAKE COMMUNITY w/ an large Amenity Center, fountains , 2 large Community Pools, Aquatic Center, Pickle Ball, Bocce Ball, Corn Hole, Sand Volleyball, full court basketball , fishing ''catch and release'' kayaking, canoeing, walking trails thru-out. Barney Farms also has KMB K-6 School in the community. A MUST SEE !!

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523 E Pasaro Drive Phoenix, AZ 85085

$697,890

3 Beds

2 Baths

1,758 SqFt

Status Active

MLS # 6700654

Property Type Single Family Residence

Price Type --

Nestled in the scenic landscape of North Phoenix, this inviting 3-bedroom, 2-bathroom home embodies modern comfort and desert charm. Beyond the gated entry, discover a sanctuary boasting upgraded appliances and a versatile den, ideal for work or relaxation. The heart of the home is a spacious living area, seamlessly flowing into a sleek kitchen adorned with top-tier amenities. Step outside to a private oasis, complete with a sparkling pool enveloped by low-maintenance turf, perfect for entertaining or basking in the sun. Embrace the tranquility of the Sonoran Desert from the comfort of your own backyard, with miles of hiking trails nearby, offering endless opportunities for outdoor adventures and breathtaking views. Experience a harmonious blend of luxury and nature in this desert haven, where every day feels like a retreat.

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20073 S 231st Place Queen Creek, AZ 85142

$697,707

6 Beds

4 Baths

2,809 SqFt

Status Active

MLS # 6576659

Property Type Single Family Residence

Price Type --

BRIGHT GREAT ROOM LOFT PLAN WITH MASTER DOWN, 6-BEDROOM, BEAUTIFUL FINISHES! SPA SHOWER IN MASTER, WHITE SHAKER CABINETS, QUARTZ KITCHEN TOPS W/ TILE BACKSPLASH,, GOURMET KITCHEN LAYOUT, UPGRADED CABINETS, UPGRADED VANITIES IN BATHS,, LVP FLOORING EVERYWHERE, EXCEPT BEDROOMS AND LOFT. ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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10585 E Cinnabar Avenue Scottsdale, AZ 85258

$697,000

3 Beds

2 Baths

1,902 SqFt

Status Active

MLS # 6752033

Property Type Single Family Residence

Price Type --

Turn-key Luxury in Scottsdale Ranch's Heritage IV adult community. Discover the ease of Luxury Living in the prestigious Heritage 4 encalve within Scottsdale Ranch. This true 3 bedroom home offers a refined, turn-key experience with everything ready for you. Fully furnished and featuring newer appliances, fresh exterior paint (2023) , new W/D(2024), water heater ( 2020) a beautifully updated paver patio (2022) and A/C unit (2022), you'll enjoy a seamless and easy move in. A vibrant lake community , the lifestyle here includes serene walking paths, private streets, tennis courts and access to two sparkling pools and over 60 + clubs. Forget about yard work and focus on relaxation and play- the HOA cares for the front yard. Live the carefree, luxurious lifestyle you've been waiting for in Scottsdael Ranch's Heritage 4. Act now -this is a special home

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19303 E Apricot Lane Queen Creek, AZ 85142

$697,000

3 Beds

2.5 Baths

2,386 SqFt

Status Active

MLS # 6747333

Property Type Single Family Residence

Price Type --

Located on the boarder of Gilbert & Queen Creek, nestled in a quiet cul-de-sac, You will find this beautiful 3 bedroom 2.5 bath w/ den luxurious home. With no neighbors behind, the home backs onto a lush greenbelt, providing uninterrupted views that create a serene and park-like atmosphere. Every detail of this exquisite residence has been meticulously crafted and upgraded by a professional designer, ensuring that each element complements the home's sophisticated style. Step inside to discover a space where modern design meets timeless elegance. The updated kitchen is the heart of the home, boasting new quartz countertops that extend to the butler's pantry, new painted cabinets, a sleek new sink, and a striking gold faucet that adds a touch of luxury. Brass hardware and a new backsplash that reaches to the ceiling complete the look, making this kitchen as functional as it is beautiful. Custom pullout drawers in the kitchen cabinets, master bathroom cabinets, and laundry room cabinets offer smart storage solutions, maximizing both space and convenience. This one story gem, with unparalleled views is a RARE find. The combination of professional design, high-end upgrades and location that offers both privacy and beauty makes this home a standout in any market! Don't miss the opportunity to make this extraordinary property your own - a place where luxury living meets natural serenity!

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