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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3990 Crown Rock Trail Prescott, AZ 86301

$695,000

2 Beds

3 Baths

1,764 SqFt

Status Active

MLS # 6730757

Property Type Single Family Residence

Price Type --

Gorgeous home with so many thoughtful upgrades throughout. This 2 ensuite home also has a den/office/3rd bedroom. Light & bright great room with fantastic kitchen offering a large island with storage, custom 5 burner gas cooktop, built-in micro & wall oven & LED under cabinet lighting. Owner's suite has extra large bedroom, bathroom w/dual vanities & opalescent quartz tops, custom tile shower surround with bench & niche, walk in closet and private toilet room. The second ensuite down its own hall offering privacy. Enjoy back covered patio w/mature landscaping and extensive paver patio - area wired to add a hot tub. Plank tile throughout. Home across from open space, so enjoying the mtn views from front patio is a plus. Laundry room decked out with custom cabinetry, granite tops & sink.

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8614 N 14th Street Phoenix, AZ 85020

$695,000

3 Beds

2 Baths

1,866 SqFt

Status Active

MLS # 6733134

Property Type Single Family Residence

Price Type --

Looking for a beautiful 3 bedroom 2 bathroom in the heart of Phoenix? City lights, mountain views, gorgeous sunsets. Have a look yourself. Nestled across from the Phoenix Mountain Preserve is an added bonus.

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5138 Pine Dawn Road Lakeside, AZ 85929

$695,000

3 Beds

2.5 Baths

2,608 SqFt

Status Active

MLS # 6751626

Property Type Single Family Residence

Price Type --

Bring your toys!! Ranch style home located in Scotts Pine Meadows on two lots, .59 acres. Beautifully landscaped home with a three car garage. This well cared for home has three bedrooms, two bathrooms, family and living room. The kitchen has a ceramic tile backsplash and countertops. Dining area can be part of the large family room with views of the backyard or off of the kitchen. A pass thru window makes serving to the family room easy and gives the kitchen a great view. The screen in patio leads to an outside patio. A 5' chain link fence encloses the back yard. On each side of the home is a drive thru gate. There is also RV parking with a sewer hookup.

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8127 E Columbus Avenue Scottsdale, AZ 85251

$695,000

3 Beds

2 Baths

1,437 SqFt

Status Active

MLS # 6738892

Property Type Single Family Residence

Price Type --

Charming 3 bed, 2 bath with 1-car garage home in the heart of Downtown Scottsdale! This property features tile flooring and natural light throughout! Great kitchen with modern stainless steel appliances, granite countertops, and plenty of cabinet and countertop space! The main bedroom includes a private bathroom and a spacious closet! Large fenced backyard and covered patio that's great for entertaining!

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8339 E Devonshire Avenue Scottsdale, AZ 85251

$695,000

3 Beds

2 Baths

1,416 SqFt

Status Active

MLS # 6738956

Property Type Single Family Residence

Price Type --

Discover this inviting 3-bedroom, 1.75-bath home, now available for immediate move-in! Nestled in Old Town Scottsdale, this beautifully updated residence showcases stunning 20x20 tile flooring throughout. Enjoy a modern kitchen with sleek stainless steel appliances, elegant granite countertops, and crisp white cabinets. Additional perks include a spacious 2-car garage with ample extra storage and a convenient laundry room. Located just minutes from Loop 101 and 202, and close to an array of shopping and dining options—this home truly offers the best of Scottsdale living!

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3596 E Kimball Court Gilbert, AZ 85297

$695,000

5 Beds

3.5 Baths

3,328 SqFt

Status Active

MLS # 6749545

Property Type Single Family Residence

Price Type --

Welcome to Coronado Ranch! This is an impressive home with its 5 bedrooms + den + loft, 3.5 bathrooms, and 3 car garage! This popular floor plan has the primary bedroom and den downstairs. If you like to cook, you'll find there's plenty of cabinet and countertop space in this kitchen! The property has been continually updated and upgraded with items such as the new luxury vinyl flooring just installed downstairs August 2024, both HVAC units and thermostats were replaced in 2020, new microwave oven in 2024, water heater was replaced in 2022 along with a new motor for the single bay garage opener, & in 2024 a new motor was installed for the double bay! The community has many greenbelt areas that include a basketball court, soccer field and splash pad! This home does not disappoint!

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871 Seven Bar Trail Trail Chino Valley, AZ 86323

$695,000

3 Beds

2.5 Baths

2,174 SqFt

Status Active

MLS # 6722979

Property Type Single Family Residence

Price Type --

Discover the ideal blend of comfort and rural living in this 3-bedroom plus office, 2.5-bathroom home, nestled in the heart of Chino Valley. This property promotes a seamless single-level living style with 2,174 square feet on 4.06 acres and a private well that produces 24 gallons per minute! The interior is warmly welcoming with a practical layout for that everyday ease. The heart of the home features a great room concept with a kitchen equipped with hard surface countertops and alder cabinetry, and a spacious dining area with room for your hutch flowing into the living area with a cozy pellet stove that adds a touch of rustic charm. The exterior of this residence is just as impressive with its partial wrap-around porch providing stunning 360-degree views. Ample parking is available with its oversized 2 car garage and an additional 20x30 drive-thru detached garage, as well as room for your RV and other toys. The lot is a generous size, enhancing the feeling of privacy and space. On the property you'll find apple, cherry, plum and apricot trees and ready-to-use garden beds, offering a gardener's paradise. Additionally, sustainable living is made easy with multiple chicken coups. The entire property is fenced and gated with an 80x80 interior backyard fencing, perfect for your small pets. Residents will appreciate the lack of an HOA, affording more freedom and flexibility in home customization and usage. This home isn't just a place to live, it's a lifestyle waiting to be embraced. Make 871 Seven Bar Trail your new haven today!

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219 E Palomino Court Gilbert, AZ 85296

$695,000

4 Beds

2 Baths

2,287 SqFt

Status Active

MLS # 6749829

Property Type Single Family Residence

Price Type --

Luxurious Remodel in Gilbert! Discover this beautifully updated single-level home in Gilbert, offering a perfect blend of comfort and style. Recent renovations include: Master Suite: Indulge in a spa-like retreat with a separate shower, freestanding tub, & dual sinks. Modern Secondary Bathroom remodel with new fixtures & finishes including Shower/tub. Enjoy a clean & inviting home with Gourmet kitchen, granite countertops & stainless-steel appliances with lots of cabinets & pull outs. Beautiful Gas Fireplace. Beautiful New 24x48 Tile Flooring & New Carpet. Fresh Interior and Exterior paint throughout. Energy Efficiency new HVAC condenser & water heater Aug 2024. Outdoor Oasis backyard features a newly resurfaced Pool & tile. Synthetic grass for low-maintenance enjoyment. Read additional Additional Highlights Spacious 4-bedroom Split Floor plan layout, 3-car garage, Cul-de-sac, Corner lot, N/S Exposure, new ceiling fans in all rooms, covered patio. All new 4in Baseboards throughout home. Convenient location near Downtown Gilbert & Lifetime Fitness, restaurants & shopping. Don't miss this opportunity to own a stunning, move-in-ready home in a desirable neighborhood.

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7171 W Appaloosa Trail Coolidge, AZ 85128

$695,000

4 Beds

3 Baths

2,449 SqFt

Status Active

MLS # 6708577

Property Type Single Family Residence

Price Type --

Beautiful, updated single story custom home on cul-de-sac. Minutes away from the I-10. Meticulously maintained and consistent with pride of ownership. House boasts newly installed roof, 3 new air conditioning units, as well as travertine tile and luxury plank vinyl flooring throughout. Paint is fresh inside and out, and the granite countertops have a mirror finish. Kitchen includes modern and new appliances as well as a breakfast nook. Plenty of room for family meals. Formal dining room is just off the kitchen. Laundry room is conveniently located and house boasts a whole central vacuum system. Included is a new soft water system and a reverse osmosis. Enjoy mountain views, mature landscaping and trees in abundance. Private courtyards on each side of the home will supply private areas for you to enjoy at any time. All windows have custom sunshades that will always keep your house at the perfect temperature. When you enter you are met with a tasteful chandelier that reveals a grand 20' ceiling which leads to the main living area. Large windows bring in natural light that will highlight your décor and bring a visual warmth to your home. Master suite is complimented by a private sitting room that leads into a beautiful courtyard. 4th bedroom has a sliding glass door leading to an additional private courtyard. When you exit the main living room through your French doors you are greeted by a fully shaded, new covered patio. This large area is an entertainers dream that can host many. Parking will never be an issue for RVs, boats or guests. Natural gas hookup and plenty of power will support any party size you desire. Home has irrigation systems through all four corners with spigots on all areas of the spacious 1.13-acre lot. Additional concrete pads are placed in perfect location for the ultimate garage and hot tub. Come see it today. You won't be disappointed.

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4605 E Pinnacle Vista Drive Cave Creek, AZ 85331

$695,000

3 Beds

2 Baths

1,870 SqFt

Status Active Under Contract

MLS # 6750296

Property Type Single Family Residence

Price Type --

Welcome to 4605 E Pinnacle Vista Dr, a beautifully maintained Santa Fe style residence nestled in the heart of a single level community in North Phoenix. This unique style home offers the perfect blend of serene desert living and modern comfort. The property is very close to Desert Ridge, the 101 the 51 and to the west, Dove Valley Drive. As you approach, you'll be greeted by a picturesque facade and desert landscaping. Step inside to discover a thoughtfully designed open floor plan. 3 bedrooms, 2 bathrooms, with a BONUS office. Home is appointed with granite countertops, kitchen island, stainless steel appliances, new fixtures throughout and wood flooring. Kitchen, dining area and great room all open beautifully to the covered patio and backyard with oversized Panoramic doors making it ideal for indoor-outdoor entertaining. The master suite is a private retreat, offering a spacious layout, an en-suite bathroom with a soaking tub, shower and a walk-in closet. Two additional bedrooms provide ample space for family or guests, each with its own charm and comfort. Outside, the expansive backyard with built in BBQ is a true desert oasis. Enjoy the stunning views from the sparkling pool or relax by the waterfall feature. Additional features include a three-car garage and energy-efficient amenities. Located in a desirable neighborhood, this home offers proximity to local amenities, hiking trails, and the vibrant community. Don't miss the opportunity to own this exceptional property. Come see us today!

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8613 W Morten Avenue Glendale, AZ 85305

$695,000

5 Beds

4 Baths

4,252 SqFt

Status Active Under Contract

MLS # 6733555

Property Type Single Family Residence

Price Type --

Beautiful 5-bedroom, 4-bathroom, three-level home situated on a large lot in a fantastic community! Boasting a generous 4,252 sqft of living space, this residence offers ample room for everyone. The home features a den and a spacious basement with a full bath, providing versatile living options. Enjoy the airy and elegant ambiance created by vaulted 9+ flat ceilings and dual-pane windows. The family room includes a cozy gas fireplace, while the large rooms feature walk-in closets. The kitchen is equipped with multiple ovens, a pantry, and a kitchen island, complemented by formal dining, an eat-in kitchen, and a breakfast bar. Step outside to a covered patio overlooking a vast, beautifully landscaped yard with grass, shrubs, and trees. Additional highlights include a 3-car garage with an RV gate. Conveniently located near parks, Westgate, stadiums, and Tanger Outlets, this home also features owned solar panels to be paid in full at closing, ensuring energy efficiency and cost savings!

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18868 E Old Beau Trail Queen Creek, AZ 85142

$695,000

4 Beds

3 Baths

3,379 SqFt

Status Active Under Contract

MLS # 6720849

Property Type Single Family Residence

Price Type --

Searching for the perfect home? You've found it here in SOSSAMAN ESTATES. This spacious 4 bed 3 bath property offers one of Richmond American's most desirable floor plans. Open, bright, and functional throughout! You will fall in love with this home's rich and luxurious feel. Plank tiles and upgraded carpet throughout, beautiful soft-close mocha cabinetry, quartz countertops, stainless steel appliances, and custom wood blinds. The front and back landscape offers low maintenance/low water usage. Desert landscape in front and back with turf in the back. The gazabo and covered patio are perfect for entertaining! Convenient location in the heart of Queen Creek! You won't want to miss seeing this one!

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