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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7739 S Balboa Drive Queen Creek, AZ 85142

$689,990

4 Beds

3 Baths

2,762 SqFt

Status Active Under Contract

MLS # 6669467

Property Type Single Family Residence

Price Type --

~~~~ CASH ONLY Pricing $689,990~~~~Ready for Immediate Move-in!!!! Welcome to your dream home where luxury and functionality converge seamlessly. This Jerome plan features 4 bedrooms and 3 baths plus an open flex room ideal for a home office or playroom. The open layout is ideal for comfortable living and entertaining, making this a top seller. Impress your guests with over $125,000 worth of upgrades, including upgraded quartz countertops and elegant White painted maple cabinets in the Gourmet kitchen, all accented by stylish tile work throughout. Don't miss out on this one!!!

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6121 E Vernon Avenue Scottsdale, AZ 85257

Open House

$689,990

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6753488

Property Type Townhouse

Price Type --

Minutes from the popular Arcadia restaurants. Priced at a steal!! Fully remodeled home, designed with numerous upgrades that cater to the discerning buyer. The property is completely turnkey and boasts a wealth of new features: Triple-pane windows in all bedrooms Custom triple-pane sliding windows Elegant custom shower enclosures Thoughtfully designed custom closet systems Razor-sharp tile fireplace Brand new bath vanities Upgraded cabinets throughout Beautiful granite countertops Modern light fixtures Fully remodeled showers with new fixtures Backlit LED mirrors with defog function in the master bath Outside, the landscaping has been freshly installed, a worry-free irrigation system. All windows and sliding doors were installed by Anderson. Minutes from Old Town Scottsdale!

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6840 E Mirabel Avenue Mesa, AZ 85209

$689,900

4 Beds

3 Baths

2,694 SqFt

Status Active Under Contract

MLS # 6755691

Property Type Single Family Residence

Price Type --

Imagine waking up in a beautifully remodeled home nestled in a serene family-friendly neighborhood. The spacious floor plan is designed for both relaxation and entertainment, with soaring ceilings that give the entire space a grand yet welcoming feel. The open great room flows effortlessly, making it ideal for gatherings or quiet nights in with the family.The true treasure of this property lies in the backyard. It's your own private escape, complete with a sprawling lawn perfect for play or relaxation, and a sparkling pool and hot tub for endless fun. There's even a built-in fire pit—ideal for relaxing with loved ones or hosting gatherings under the stars. And with no neighbors behind, you'll enjoy peace and quiet while savoring the privacy of your outdoor space. Whether you're hosting family get-togethers or enjoying a quiet evening around the fire pit, this home offers the perfect blend of comfort, style, and seclusion.

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18956 N 264th Lane Buckeye, AZ 85396

$689,900

2 Beds

2.5 Baths

2,212 SqFt

Status Active

MLS # 6747772

Property Type Single Family Residence

Price Type --

Gorgeous, turn key, Refuge model, home by Del Webb 55+Active Community. Breathtaking, extended, backyard oasis offers a fully walled lot for privacy. Sunsets and White Tank Mountain views (partial) encourages regular gatherings with family and friends. Custom landscaping includes an inviting heated swimming pool with large waterfall feature, alumawood solid pergola covered gourmet outdoor kitchen, large gas fire pit, enclosed patio with ceiling fan. Home interior boasts $100,000+ in upgrades: custom tile flooring, Chef cabinet layout, granite counters throughout, designer closet in master with separate walk-in shower and soaking tub, open corner sliding glass patio door, expanded walk-in pantry, plantation shutters, and more. Fully owned, 35 solar panels. Stainless steel appliances.

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3466 E Azalea Drive Gilbert, AZ 85298

$689,900

4 Beds

2.5 Baths

2,177 SqFt

Status Active

MLS # 6735445

Property Type Single Family Residence

Price Type --

Beautiful, highly upgraded home in desirable Bridges at Gilbert community, located near Gilbert Regional Park and great schools. This bright and modern home features one bedroom downstairs, great for a home office or entertaining. The living room is complimented by a beautiful kitchen with kitchen island, granite counter tops, and stainless steel appliances. Upstairs is floored with luxury vinyl with hardwood appearance, two large bedrooms, a comfortable master suite with a rain glass walk-in shower, a laundry room with washer, dryer and cabinets, and a loft. All windows are covered with shutters. The garage has an epoxy floor, the soft water system is owned. The huge, resort-like backyard features a paved and covered patio as well as a gazebo, perfect for those hot Arizona summers. A built-in barbecue and a gorgeous, heatable and coolable pool invite you outside anytime of the year.

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3602 E Brookwood Court Phoenix, AZ 85048

$689,900

4 Beds

2.5 Baths

2,534 SqFt

Status Active

MLS # 6727458

Property Type Single Family Residence

Price Type --

This gorgeous 4-bed, 2.5-bath home w/a 3-car garage is about to be yours! Updated & well-maintained interior boasts clean lines promoting a modern feel & a functional design. Abundant natural light graces every corner, from the inviting living room to the formal dining room & the perfectly flowing great room complemented by a gas fireplace. Fresh soft paint, vaulted ceilings, wood-look flooring, & window blinds enhance the overall vibe. Beautifully renewed kitchen offers track lighting, built-in appliances, plenty of cabinetry, desk area, a two-tiered island w/a breakfast bar, & a bay window in the breakfast nook. Owner's retreat won't disappoint, showcasing outdoor access, an ensuite w/dual sinks, make-up desk, & a walk-in closet. Spacious backyard displays a covered patio. This gem is ready to welcome you!

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320 Buckingham Place Prescott, AZ 86303

$689,900

3 Beds

3 Baths

2,768 SqFt

Status Active

MLS # 6748189

Property Type Single Family Residence

Price Type --

City Light & Panoramic views of Thumb Butte, Granite Mountain & the square. New Roof, new exterior paint, new Trex decking, new water heater, new ceiling fans & new garage door. HVAC 3yrs new! Level Driveway, Length of the house Sunroom (passive solar) greats you with a wall of windows. Four panel slider lead to an extra large living room, dining area & kitchen. One level living w/ Master & Laundry on main. Master has a full bathroom with two closets & French doors to the Sunroom. Lower level features two generous sized bedrooms & a full bathroom. French doors accesses the lower, wood finished, sun room. Flex space for office, gym, game room or sitting areas. Bonus: New-in-box waterproof Flooring! Adjoining .36 acre lot avail for total price $739,900. Full list of improvements available.

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933 N 103rd Street Mesa, AZ 85207

$689,900

3 Beds

2.5 Baths

1,905 SqFt

Status Active

MLS # 6750743

Property Type Single Family Residence

Price Type --

Experience the grandeur of this sprawling 1.17-acre horse property, a beautifully updated haven with a dazzling open floor plan. Vaulted ceilings and tile flooring enhance the spacious great room, complete with plantation shutters and a cozy corner fireplace, ideal for relaxing evenings. The chic kitchen is a chef's dream, featuring custom cabinets, sleek quartz counters, stainless steel appliances, and a convenient pantry. A charming bay window and a center island with a breakfast bar add to its allure. Comfort meets style in all bedrooms, adorned with plush carpeting. The main suite impresses with a stylish bathroom boasting dual sinks and a walk-in closet. A versatile den with built-in cabinets serves as a perfect office or studio... Outside, the expansive backyard offers a covered patio and comprehensive equestrian facilities, including stalls and an arena, set against breathtaking mountain vistas. Don't miss out on this exceptional property. Make it yours today!

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1176 E Erie Street Gilbert, AZ 85295

Open House

$689,900

4 Beds

2 Baths

2,136 SqFt

Status Active

MLS # 6753945

Property Type Single Family Residence

Price Type --

This 4-bedroom, 2.5-bathroom gem in the heart of Gilbert is MOVE IN READY with a NEWER AC and NEWER hot water heater, giving you serious energy savings! Step inside and prepare to be wowed by the open-concept living area - perfect for all the cozy nights in or lively get-togethers! The gourmet kitchen has granite countertops, modern white cabinets, HUGE pantry and a big island. But the real showstopper? The backyard! This outdoor space is next level. With a fenced pool, TWO outdoor sheds, an outdoor bar and grill and a covered patio! & don't forget about the the garage with built-in cabinets! Plus there's a laundry room just off the entrance with a built-in beverage fridge! Located in a prime Gilbert neighborhood with easy access to top schools, shopping, and dining.

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12484 W Calle De Baca -- Peoria, AZ 85383

$689,899

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6747087

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and versatility at 12484 W. Calle De Baca in the rapidly growing community of Lake Pleasant Heights in North Peoria. This exceptional NextGen home offers an innovative living solution with a private suite that includes its own entrance, living area, full kitchen with granite countertops, bedroom, bathroom, washer & dryer, separate A/C & thermostat, with private patio and separate one car garage, that is perfect for multi-generational living, a home office, or guest accommodations. This meticulously maintained home features 4 spacious bedrooms and 3 bathrooms, designed with an open-concept layout that seamlessly connects the gourmet kitchen, dining, and living areas. The kitchen is a chef's dream with granite countertops, high-end stainless steel appliances, and a large island perfect for entertaining. Outside, you'll find a beautifully landscaped backyard with a covered patio, pavers, and brand new artificial grass making this private space ideal for enjoying Arizona's sunny days and warm evenings. Residents of the Mystic community enjoy access to the community pool, spa, workout facility, as well as media and recreation room! Along with proximity to top-rated schools, shopping, dining, and recreational amenities, this NextGen home is a rare find that caters to modern living needs. Seller is willing to consider buyer concessions!

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23088 E Carriage Way Queen Creek, AZ 85142

$689,809

4 Beds

3 Baths

2,622 SqFt

Status Active

MLS # 6707547

Property Type Single Family Residence

Price Type --

JUST REDUCED!! POPULAR LOFT PLAN WITH MAIN BEDROOM DOWN, BEAUTIFUL FINISHES! SPA SHOWER IN MAIN, UPGRADED CABINETS, GRANITE KITCHEN TOPS W/ TILE BACKSPLASH, GOURMET KITCHEN LAYOUT, UPGRADED VANITIES IN BATHS, PLANK TILE 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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1281 N Concord Avenue Chandler, AZ 85225

$689,500

5 Beds

2.5 Baths

2,957 SqFt

Status Active

MLS # 6756387

Property Type Single Family Residence

Price Type --

This home has a great split floor plan with a main floor primary suite and four bedrooms upstairs. Enjoy cooking in the spacious kitchen with stainless steel appliances and Dolomite countertops. The family living area is great for entertaining and has a wood burning fire place with floor to ceiling slate. Enjoy hanging out in the backyard or taking a swim in the newly resurfaced pool or stay cool inside from the two new ac units.

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