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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1700 E Lakeside Drive Unit 63 Gilbert, AZ 85234

Open House

$685,000

3 Beds

3 Baths

2,944 SqFt

Status Active

MLS # 6747139

Property Type Townhouse

Price Type --

Nestled in Breckenridge Bay, is this gorgeous two-story townhome! Delightful interior showcases a blend of tile & carpet flooring, soaring vaulted ceilings, custom palette, plantation shutters, & recessed lighting that illuminates every corner. HUGE living & dining room bathed in natural light offers sliding glass doors that open to the back patio. The kitchen features plenty of cabinet space, matching appliances, a breakfast bar, & a breakfast nook w/a bay window. Large main bedroom comes complete w/outdoor access, an ensuite w/dual sinks, & a walk-in closet. Head upstairs to find a flexible loft w/balcony access, ideal for an entertainment area. Hang out on the cozy balcony. The private backyard includes a covered patio w/ceiling fans. Amazing Community amenities await. Act swiftly!

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16639 S 17th Street Phoenix, AZ 85048

Open House

$685,000

3 Beds

2 Baths

2,182 SqFt

Status Active

MLS # 6709484

Property Type Single Family Residence

Price Type --

Experience an exquisite haven in this 3-bed to 2 bath home nestled in the Palmia at the Foothills community! Entering through the the grand dual doors, you're greeted with soaring ceilings, and lots of glorious natural light, large windows adorned w/ plantation shutters. Meander through this wondeful floorplan, on low maintenance, wood look flooring, enter the spacious living room with dining area, this is where memories are made, continue through to the great room w/ cozy fireplace and seamless access to the backyard for relaxation and entertaining. The kitchen, at the heart of the home, boasts views, recessed lights, plethora of spotless white cabinetry, tile backsplash, SS appliances, quartz counters & center waterfall island, pull up a chair, it's the center spot for entertaining, The main bedroom features plush carpeting, scenic views & direct backyard access. Enjoy the spa-like bathroom w/ dual vanities, a soaking tub framed by elegant glass blocks, a sit-down shower & a walk-in closet. Morning coffees or BBQ party in the backyard with a covered patio or quick dip at the pool any day of the week. Visit now

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15708 E Yucca Drive Fountain Hills, AZ 85268

Open House

$685,000

3 Beds

2 Baths

1,838 SqFt

Status Active

MLS # 6712184

Property Type Single Family Residence

Price Type --

Great new price / Come take a look at this recently remodeled home in desirable Sunridge Canyon! Interior walls removed to make this a truly open & bright floor plan/all new wood like flooring throughout/New modern electric fireplace/new ceiling fans. baseboards, interior paint, smoke detectors. HVAC new 2018/Nothing to do but move in and enjoy life in beautiful Fountain Hills. This single level home offers a formal dining room / kitchen with breakfast bar and breakfast room overlooking the yard / 2 bedrooms plus a den/office - or it can be your 3rd bedroom!! Nice location allows for e-z access to all community amenities including Golden Eagle Park/Pickle Ball courts and more/ just a short drive to shops and restaurants!! 12 month min. rentals in Sunridge /Don't miss out on this one

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8545 E Pinchot Avenue Scottsdale, AZ 85251

$684,999

3 Beds

2 Baths

1,290 SqFt

Status Active Under Contract

MLS # 6750294

Property Type Single Family Residence

Price Type --

Location! Location! Location! A stunning and completely renovated home boasts an open floorplan with very large 3 bed, 2 bath, 1 car garage. covered patio, RV parking, and BRAND-NEW sparkling pool. Brand new roof, HVAC Unit, and new windows. The kitchen comes with stainless-steel appliances, quartz countertops and brand-new white & black shaker cabinets. Brand new vinyl wood flooring throughout the home. Enjoy the fully upgraded, spa like bathrooms with high end shower system, framed mirrors, shower niche, and custom vanities. Sparkling pool with easy to maintain landscaping creates a perfect outdoor oasis. Situated in the heart of Scottsdale and just minutes from great beautiful parks, restaurants, the entertainment, shopping, groceries, and close freeway access.

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12345 W Encanto Boulevard Avondale, AZ 85392

$684,999

5 Beds

3 Baths

3,751 SqFt

Status Active

MLS # 6704628

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER**Exquisite 2-story home that will take your breath away all on approx. ¼ of an acre. Stunning 5 spacious bedrooms, 3 luxurious bathrooms, providing ample space! As you enter, you'll be greeted by magnificent wrought iron security doors and double entry front doors, and soaring ceilings. Spacious bedroom DS with a full bath adjacent. Gourmet Kitchen with large island, SS refrigerator, granite countertops make it complete. Formal dining and living room with a fireplace provide an elegant and intimate setting. This home offers an amazing loft for additional living space, a built-in desk for a home office, a beautiful balcony overlooking the pool.The amazing backyard is spacious with a covered patio, a cabana, a fire pit, a separate storage structure that has endless uses!

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20191 W Hollyhock Street Buckeye, AZ 85396

$684,995

4 Beds

3.5 Baths

2,840 SqFt

Status Active

MLS # 6738875

Property Type Single Family Residence

Price Type --

Part of the Modern Living collection, The Darius provides a sophisticated and accommodating ranch-style layout. In addition to a lavish primary suite with a roomy walk-in closet and attached double-sink bath with an upgraded deluxe tile shower-this home includes a second primary suite with an adjacent living room, perfect for multi-generational living. You'll also enjoy a 3-car garage, a study, a great room with an adjacent covered patio-featuring multi-slide doors, two additional bedrooms that share a jack and jill bathroom, and an inviting gourmet kitchen with a generous island, built-in pantry, 42'' white cabinets with brushed nickel pulls, quartz countertops, tile backsplash, GE Plus stainless-steel appliances with chimney hood and 36'' gas cooktop and an adjacent dining nook. This home has 9 x 35 tile flooring with carpet only in the bedrooms, brushed nickel hardware, lighting and faucet packages throughout, pendant lighting at the kitchen island, and a full wet bar with upper and base cabinets in the guest living room. In addition, 10 ft ceilings, two-tone paint, ceiling fan prewires in the bedrooms, great room, study and covered patio, soft water loop in the garage, laundry sink pre-plumb, garage service door, paver driveway and walkway, front yard landscaping and exterior coach lights are also included. This home is situated on a 9202 square foot, North facing corner lot with a double side gate. Ready Now!

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3024 E Lawndale Drive Gilbert, AZ 85298

$684,990

5 Beds

3.5 Baths

2,938 SqFt

Status Active

MLS # 6748787

Property Type Single Family Residence

Price Type --

BRAND NEW KB HOME! This two-story home features an open floor plan with 9-ft. first floor ceilings and a spacious great room that opens to an extended covered back patio. The modern kitchen offers quartz countertops, a walk-in pantry, and 42-in. upper cabinets for added storage space. The first level also includes a versatile den, powder bath, and a bedroom with full bath. Moving upstairs, the spacious loft is perfect for family movie nights or as an open home office. The primary suite offers an oversized closet, and the luxurious primary bath boasts a walk-in shower and an extended dual-sink vanity.

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25912 N 22nd Lane Phoenix, AZ 85085

$684,990

3 Beds

2.5 Baths

2,568 SqFt

Status Active

MLS # 6720715

Property Type Single Family Residence

Price Type --

Alta Farmhouse elevation, covered entry with pavers & front yard turf landscaping. Interior features 2567 square feet on 2 levels, 3 bedrooms 2.5 bathroms and 2 car garage. Open concept floorplan with 9 foot ceilings and 8 foot doors. Kitchen features quartz countertops, silver grey painted shaker style cabinets with stainless steel hardware, stainless steel gas 5-burner cook top, under cabinet hood, wall oven and microwave and 5 cycle dishwasher. Primary with on-suite bathroom featuring modified shower with marble surround, matching shaker style cabintes and walk in closet. Spacious laundry room located upstairs near bedrooms. Split concept bedroom layout with 2 bedrooms and a full bath on the opposite side of the upstairs loft from primary suite. 6x36 natural wood look tile and upgraded carpet and pad. Ceiling fan prewire in bedrooms and pendent light prewire with separate switch over island in kitchen. 4-panel sliding glass door to side yard and gas BBQ stub.

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7313 E Jasmine Street Mesa, AZ 85207

$684,900

5 Beds

3 Baths

2,801 SqFt

Status Active

MLS # 6752294

Property Type Single Family Residence

Price Type --

Amazing 5 Bedroom 3 Bath Home with Sparkling Pool. No HOA! Close to Schools, Shopping and Freeway! Seller is offering a 2% concession towards Buyers closing cost or loan fees. Currently, Seller is remodeling the Home.

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4723 E Rockledge Road Phoenix, AZ 85044

New

$684,900

4 Beds

3 Baths

2,722 SqFt

Status Active

MLS # 6759904

Property Type Single Family Residence

Price Type --

Gorgeous renovated home! New floors and carpet, quartz kitchen countertops, fresh interior paint and more! Close to shopping and I10 freeway.

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1246 S Sunnyvale -- Mesa, AZ 85206

$684,900

4 Beds

2 Baths

2,783 SqFt

Status Active

MLS # 6743315

Property Type Single Family Residence

Price Type --

**PRICE IMPROVEMENT** Fall in love with this large 4BR home from the minute you step inside; the immaculate and inviting interior is sure to make you smile! It's easy to picture yourself enjoying this lovely home with its inviting, open floorplan featuring vaulted ceilings and large windows that draw in the natural light, lighted niches, generous secondary bedrooms with plantation shutters, a lovely master suite with a spacious bathroom featuring dual sinks, separate shower & tub, and large walk-in closet. This home is move-in ready with a new professionally painted interior, brand new contemporary ceiling fans and updated fixtures in the main living areas. Two large living areas invite you to entertain friends or enjoy time with your family. A beautiful, upgraded kitchen with granite counters, stainless appliances and recessed lighting, direct access to the covered patio via French doors, a large laundry room and a 3-car garage with Epoxy coated floors are just a few of the things that make this home special and livable. The low-maintenance landscaping will free up your time for fun with friends and family, and the home is within walking distance to elementary and junior high schools. DON'T MISS this rare opportunity to snag a gem in Mesa's coveted STONEGATE ESTATES!

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28656 N 45th Way Cave Creek, AZ 85331

$684,900

4 Beds

2 Baths

2,226 SqFt

Status Active Under Contract

MLS # 6718995

Property Type Single Family Residence

Price Type --

Gorgeous TW Lewis home in Cave Creek is coming soon! The seller installed a 5-ton Trane AC unit in October of 2016, the water heater in December of 2021, and he replaced all the roof underlayment in June of 2021. Soaring ceilings & plantation shutters in every room, granite counter tops throughout, stainless steel appliances, Gas stove, Large eat in kitchen. BONUS - The refrigerator, washer, and dryer convey stay with the home.Big family room with gas fireplace. 20'' Tile floor entire house, Spacious walk in closet, Double sinks in both bathrooms, Raised master vanity with a separate tub and shower. Nicely landscaped yard with an extended patio. Three car garage with storage cabinets, Walking distance to Dynamite Park. Close to Desert Ridge Shopping

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