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.

Whats 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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12733 W Banyan Drive Sun City West, AZ 85375

$669,995 - 4Br/3Ba -  for Sale in Sun City West Unit 12, Sun City West
New
$669,995
4 Beds
3 Baths
2,890 SqFt
Status Active
MLS # 6759547
Property Type Single Family Residence
Price Type --
Welcome to your Sun City West 4 bedroom, 3 bathroom oasis! Are you looking for 2 master suites, golf course lot, split floorplan & a fully updated home? We got all that for you and more! Enjoy coming home and entertaining in your gorgeous kitchen with an oversized island that is open to your dining room & family room. Soft close cabinetry. Dual sided fireplace compliment living spaces and give a gorgeous focal point. Luxury vinyl plank flooring throughout home. Bathrooms have fantastic upgrades including stunning tile, cabinetry & fixtures. 2 car garage with attached cabinets. New roof. Dual pane windows. Come see all the home & community have to offer!

22709 E Lords Way Queen Creek, AZ 85142

$669,990
3 Beds
2.5 Baths
2,702 SqFt
Status Active
MLS # 6751283
Property Type Single Family Residence
Price Type --
Welcome to the stunning single-story Craftsman Topaz home in Madera, offering 2,702 sq ft. This home features 3 spacious bedrooms, 2.5 baths, butler's pantry and a bonus room. Enjoy 10' ceilings and 8' interior doors that enhance the open, airy feel. The great room seamlessly connects to the backyard through a 4-panel sliding glass door, perfect for designing your ideal outdoor retreat. The gourmet kitchen includes stainless steel appliances, White & Natural shaker cabinets, Crisp Stria Quartz countertops, and a tiled backsplash. Upgraded wood plank tile floors and plush carpeted bedrooms add to the comfort, while designer tile accents the primary bathroom. The spa-like primary bath includes a freestanding tub and a tiled shower with the upgraded Gibson Premium Package. Located near Pickleball courts, Bocce Ball, playgrounds, and the new Frontier Family Park.

42158 N Golden Trail San Tan Valley, AZ 85140

$669,990
4 Beds
3 Baths
2,513 SqFt
Status Active
MLS # 6733569
Property Type Single Family Residence
Price Type --
Welcome to Edgewood Estates, where luxury meets practicality! Step through the expansive foyer into a spacious great room, boasting a stunning wall of windows, perfect for entertaining guests or enjoying family time. The kitchen is a chef's dream with beautiful cabinets, a spacious island for meal prep or casual dining, and high-end finishes throughout. Retreat to the private primary suite featuring a relaxing primary bath and a generously sized walk-in closet. This home also features an Extra Suite Plus, ideal for multi-generational living or hosting guests with privacy and comfort. ^Up to 5% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

14927 N 55th Drive Glendale, AZ 85306

$669,980
5 Beds
3.5 Baths
3,053 SqFt
Status Active
MLS # 6755286
Property Type Single Family Residence
Price Type --
LEED Certified Gold Home. 5 Bedroom all with walk in closets. 3.5 Bath, Huge loft. 2 car Garage. Benton Birch Burlap Cabinets. New Caledonia granite kitchen countertops. Kitchen 42'' uppers. GE gas range, SS appliances. Tile flooring is 6'' X 36'' wood looking tile

2542 W Kit Carson Trail Anthem, AZ 85086

$669,949 - 5Br/3Ba -  for Sale in Anthem Unit 25, Anthem
Open House
$669,949
5 Beds
2.5 Baths
2,968 SqFt
Status Active
MLS # 6711929
Property Type Single Family Residence
Price Type --
Welcome to your Dream Home at this stunning and spacious 2,968 square foot, coveted Victory model that offers an exceptional blend of beauty, functionality, and modern convenience -in the award-winning Master Planned Community of Anthem, with its 63-acre park, various sports fields and courts, fitness center, skate park and more - all included with your HOA! Perfectly positioned on a north/south facing lot, this home is designed to maximize natural light while minimizing heat exposure. Upon entering this gorgeous home, you'll be greeted by an expansive living space large enough for all to enjoy! The heart of the home, the kitchen, has been completely updated to meet the needs of the most discerning chef. It features sleek Corian countertops, custom cabinets, a large center island with seating, and stainless steel appliances. The pantry provides plenty of storage space, while the adjacent breakfast area offers the perfect spot for making memories around the table. This home boasts five spacious bedrooms, with the primary suite and a den conveniently located on the main floor. The primary bedroom is a true retreat, featuring a large walk-in closet, and an en-suite bathroom with dual sinks, a soaking tub, and a separate walk-in shower. The den, tucked away on the main floor, can easily be converted into a sixth bedroom, perfect for guests or multi-generational living. Upstairs, you'll find four generously sized bedrooms, each with ample closet space and large windows. Wait until you see the beautiful Castle like bedroom, fit for royalty! A full bathroom serves the upstairs bedrooms, making it convenient for family members and guests alike. The upstairs also features a dedicated tech center, ideal for remote work or homework. The backyard is a private paradise, perfect for both relaxation and recreation. The centerpiece is a sparkling pool, surrounded by beautiful landscaping and a spacious patio area. Whether you're hosting a summer barbecue or enjoying a quiet evening under the stars, this outdoor space has everything you need. Living in Anthem means enjoying access to a plethora of amenities and activities. The community has been recognized as the Best Master Planned Community and one of Phoenix Magazine's Best Family Friendly Neighborhoods and Best Master Planned Community for Children. Residents have access to over 15 miles of hiking and biking trails, offering endless opportunities for outdoor adventures. The Anthem Community Center is a hub of activity, featuring tennis courts, pickleball courts, other various fields/courts, multiple pools, a state-of-the-art fitness center, and much more. This home offers the perfect combination of luxurious living with modern amenities, and a vibrant community lifestyle. Don't miss the opportunity to make this beautiful house your new home! Additional Features: - Newer HVAC units ensure efficient climate control throughout the year at this beautiful North/South facing home. - A newer hot water heater. - Freshly painted interior - The three-car garage comes equipped with a charging station, ideal for electric vehicle owners.

1843 E Laguna Drive Tempe, AZ 85282

$669,900
5 Beds
3 Baths
2,650 SqFt
Status Active Under Contract
MLS # 6746771
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This stunning 5 -bedroom, 3-bathroom residence sits on a spacious 9,792 sq ft lot in a peaceful neighborhood with no HOA restrictions. With 2,650 sq ft of living space, the home features a large family room, and media room providing versatile spaces for work and play. The kitchen is a chef's delight with granite countertops, a pantry, and both formal and eat-in dining areas. Outside, you'll find a covered patio that overlooks a low-maintenance yard, complete with a private pool and above-ground jacuzzi. Additional perks include storage, an RV gate, and ample parking. Conveniently located near the Loop 101 and US60 freeways, this home offers the perfect blend of comfort, style, and accessibility.

4726 S 180th Drive Goodyear, AZ 85338

$669,900
4 Beds
2.5 Baths
2,022 SqFt
Status Active Under Contract
MLS # 6746226
Property Type Single Family Residence
Price Type --
Desert elegance describes this custom home with amazing horse property with mountain views seated on over an acre lot! Step through the front door & see soaring ceilings & modern finishes. The chef's kitchen boasts gorgeous quartz counters, shaker cabinetry, top tier appliances, & opens to the family room with a fireplace - ideal for entertaining. Relaxing primary retreat features an impressive updated ensuite bathroom with dual vanity with quartz counters, incredible walk-in shower & an EPIC walk-in closet with custom shelving. Also featured, a 3-car extended garage with epoxy flooring, massive driveway, storage shed, newer roof (2020), water filtration system, & SOLAR. Located in a private community with quick access to hiking trails, top schools, golfing, shopping, dining, & more!

8045 N 14th Street Phoenix, AZ 85020

$669,900
3 Beds
2 Baths
1,758 SqFt
Status Active
MLS # 6745672
Property Type Single Family Residence
Price Type --
**Attention** Investment opportunity in North Central Phoenix! This property includes a 1758 Sf Main Home and 900 SF Remodeled Casita. Both units are leased, generating $4,320/lease monthly. NO HOA. 15,027 Sf lot with plenty of room for future expansion. The main home includes a spacious kitchen, living/family room, large, covered patio with a large backyard and RV gate. The 2-bed, 1-bath Casita includes New white shaker cabinets, stainless-steel appliances and LVP flooring. Conveniently Located near the Phoenix Mountain Preserve with quick access to hiking trails, Great Local dining, shopping, and the 51 Freeway. Quick access to anywhere in the valley, 10 minutes to Downtown Phoenix. If you're looking for an investment opportunity, check this out today to see the potential for yourself

4623 E Roy Rogers Road Cave Creek, AZ 85331

$669,900 - 3Br/2Ba -  for Sale in Tatum Ranch Parcel 43a, Cave Creek
New
$669,900
3 Beds
2 Baths
1,858 SqFt
Status Active
MLS # 6758330
Property Type Single Family Residence
Price Type --
Experience luxury living in Tatum Ranch! This bright, inviting T.W. Lewis home features soaring ceilings, high-end finishes, and updated windows throughout. Enjoy elegant tile floors and plush carpeting in all the right places. The gourmet kitchen boasts stone countertops, stainless steel appliances, an electric cooktop, and a breakfast bar, opening to a spacious family room ideal for entertaining. The primary suite offers a peaceful retreat with a renovated ensuite bath featuring a dual vanity and a walk-in shower. Step outside to your covered patio, perfect for BBQs, gatherings, or relaxing by the heated Pebble Tec pool. Located in Tatum Ranch, you're just minutes from highways, schools, shopping, and dining in Cave Creek.

9904 E Monterey Avenue Mesa, AZ 85209

$669,900
4 Beds
2 Baths
2,701 SqFt
Status Active
MLS # 6735242
Property Type Single Family Residence
Price Type --
Welcome to this beautiful home on an Oversized N/S Lot in the Prestigious Augusta Ranch Golf community. This spacious home has 4 large Bedrooms, Split Floor Plan, Separate Living & Family Rooms w/ Vaulted Ceilings. The Eat-In Kitchen has an Island/Breakfast Bar, Gas Range, b/i Microwave, walk in pantry & additional built in Cabinets in Laundry Room. Primary bathroom has Shower & Tub, Dual Sinks & Walk-In Closet. This home has Ceiling fans, wood plantation shutters & neutral 2 tone paint throughout. The Large Backyard is perfect for your next BBQ w/ an enormous Covered Patio & 3 fruit trees (lime, orange, grapefruit), palm trees and is extra spacious. 3 car Garage has many b/i Cabinets, Service Door & tankless water heater. This home is in one of the best communities in East Valley.

4444 E Jesse Street Gilbert, AZ 85295

$669,900
4 Beds
3 Baths
2,420 SqFt
Status Active
MLS # 6731266
Property Type Single Family Residence
Price Type --
Fabulous 4 bedroom/3 bath floorplan located in the highly sought after community of Cooley Station. The open floorplan boasts 10 foot ceilings with the primary en suite, 2 bedrooms, a full bathroom, and large laundry room with built in cabinets on the first floor. The gourmet kitchen includes a farmhouse sink, LED dimmable lighting under kitchen cabinets, subway tile surround on kitchen Island, upgraded kitchen cabinets with crown molding, and ceramic subway tile back splash. A nice size loft, sitting area, bedroom, and full bath are located upstairs- perfect for guests! Exit out to the beautifully landscaped yard from the kitchen to a large covered patio and artificial turf. The community offers 2 pools and 4 large parks; 1 just footsteps from the front door. Complete front landscape and back alley landscape fully maintained by the HOA. This home is designed with functionality and style in mind, catering to both practical needs and aesthetic preference. The combination of modern amenities and thoughtful details suggests a well-appointed and comfortable living space. Don't miss this wonderful opportunity to live in Cooley Station!

11133 E Ocaso Avenue Mesa, AZ 85212

$669,900
2 Beds
2 Baths
1,981 SqFt
Status Active
MLS # 6714145
Property Type Single Family Residence
Price Type --
*** THIS IS THE ONE *** Located in the 55+ Community of Sunland Springs Village *** Originally built like the model with all of the interior upgrades *** The Popular 1950 Floor Plan *** Large Front & Back Patio's *** Built-in Back-yard BBQ *** Putting Green *** Outdoor Jacuzi *** Over sized Garage With 4 ft Extension / Built-in Cabinets / Epoxy Floor / Tankless Hot Water Heater / Water Softener *** Large Master Bath With Walk-in Shower *** Let the Pictures Speak for them-selves *** Don't let this one get away!

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