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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70 W Roadrunner Drive Chandler, AZ 85286

$669,900
4 Beds
2.5 Baths
2,750 SqFt
Status Active
MLS # 6675936
Property Type Single Family Residence
Price Type --
ASSUMABLE LOAN AT 2.75%!! -- Open to Veterans, Non-Veterans AND INVESTORS! Don't miss this recently remodeled home in Chandler. Oversized kitchen was recently updated and all new flooring throughout the home. Features 4 bedrooms and an office, an oversized loft, 2.5 baths with a 1 car garage separate from the 2 car garage. All appliances are included. Step into the back yard with the large covered patio, diving pool and spa.

515 W Laredo Loop Payson, AZ 85541

$669,900
4 Beds
3 Baths
2,336 SqFt
Status Active
MLS # 6741737
Property Type Single Family Residence
Price Type --
Welcome to the beautiful town of Payson, AZ! This stunning single-family home is now available for sale . Boasting 4 bedrooms and 3 bathrooms, this property offers ample space for you and your family to spread out and relax. As you enter the home, you will immediately notice the vaulted ceilings, adding an airy and spacious ambiance to the living areas. The open floor plan seamlessly connects the living room, dining area, and kitchen, perfect for entertaining family and friends. The kitchen features granite countertops, a gas stove, pantry and ample cabinet space for all your storage needs. Separate laundry room and utility room lead to garage. The master bedroom is a tranquil retreat, complete with a private ensuite bathroom featuring a jetted tub and separate walk in shower, as well as a great walk in closet. The remaining three bedrooms are spacious and bright, with one featuring a convenient Jack & Jill bathroom, ideal for families. The great room is spacious with a great fireplace and 2 sets of french doors out to the back covered deck. Go down the steps off the back to a nice fenced yard for privacy and a great large crawl space that is partially finished for a work area or storage. Step outside to the large corner lot and discover a private oasis. Mature trees provide shade and privacy, while the covered patio offers a cozy outdoor living space. Imagine spending summer evenings here, enjoying a barbecue with loved ones or simply unwinding after a long day. Situated in a quiet neighborhood, this home offers peace and serenity while still being close to everything you need. For families, there are several nearby schools, and the public library, within walking distance. Nature enthusiasts will appreciate the proximity to Rumsey Park, a beautiful green space perfect for picnics, walks, and playtime with the kids, as well as a close dog park. When it comes to dining and entertainment, the property is just a short drive away from popular restaurants and entertainment. Don't miss out on the opportunity to make this house your home.

4327 E Tether Trail Phoenix, AZ 85050

$669,900
3 Beds
2 Baths
1,845 SqFt
Status Active
MLS # 6750004
Property Type Single Family Residence
Price Type --
Newly upgraded beauty!!! Owner has been in home a year now and has done many wonderful upgrades!! 3 bedroom 2 bath. Den off master. Inside Laundry. Walk through front door to open ceilings and natural bright light! Home offers Living room with dining room, Separate family room that is open from kitchen. Kitchen recently remodeled with gorgeous quartz counters, stone backsplash, stainless steel appliances, large pantry and island. Owner has just painted the entire inside and outside of home!! New carpet in all bedrooms, new wood fireplace mantel, brand new roof, had the entire house replumbed with PEX, added front and back security doors, AC just serviced, new window coverings in master bath, eat in kitchen, 2nd bedroom and family room. New exterior lighting, keep reading more.. New light fixture in dining room.Beautiful stone Gas fireplace just serviced. Gas valve added outside for future use. New coach lights at front door and garage. All trim in house just painted! Hallway has cabinets with countertop. Water softener and workbench in garage. North South exposure!! Large extended covered patio overlooking beautiful turf yard.

886 S Ash Street Gilbert, AZ 85233

$669,900
5 Beds
2.5 Baths
2,647 SqFt
Status Active
MLS # 6716916
Property Type Single Family Residence
Price Type --
Custom iron front security door, 3 car garage, garage built -in cabinets, insulated garage door, radiant barrier in attic, soft water system, sun shades for windows, designer garage coach lights, front door lighting & back patio. Tile floor on first floor entry, hallway,laundry rm, bathroom, kitchen & dining. Wood floor in den & family room. New carpet May 2024, samsung ss appliances, large walk-in pantry, updated kitchen, glass tile backsplash, R.O. system for drinking water, laundry room cabinets & deep sink, new washer/dryer. Custom mirrors in bathrooms. VERY well cared for home ready for move in.

1405 W Pelican Court Chandler, AZ 85286

$669,699
4 Beds
3.5 Baths
2,892 SqFt
Status Active
MLS # 6754000
Property Type Single Family Residence
Price Type --
You are lucky to find this rare gem - A tranquil green area in the back with view fence, a walk deck, and a peaceful quiet cul-de-sac in the front. On top of that, you can WALK to the highly rated school. WOW! From the moment you step inside, BRAND NEW LVT tile welcomes you and flows seamlessly through the main areas. The gourmet kitchen is perfect for entertaining, featuring NEW white island contrasting with granite countertops, upgraded cabinets, and stainless steel appliances. The main master suite is conveniently located downstairs with a luxurious bathroom, a spacious walk-in closet, and a view of the beautiful desertscape backyard, complete with a covered patio adjacent to a large, well-maintained greenbelt. Upstairs, the dramatic staircase with footlights leads to a large loft and three additional bedrooms, including a second master suite with its own bathroom and a balcony overlooking the back. The home boasts ample storage with a huge under-stair closet and three pantries. Conveniently located near shopping, parks, and a highly ranked elementary school, this home truly shows pride of ownership. With its modern open floor plan, super vaulted ceilings, and premium views of the mountains and greenbelt, this home is a must-see. The low-maintenance yard offers a front sitting area with a cul-de-sac view and a resort-style backyard. Move-in readywelcome home!

8732 S Sun Quail Terrace Hereford, AZ 85615

$669,500
5 Beds
3 Baths
3,023 SqFt
Status Active
MLS # 6452313
Property Type Single Family Residence
Price Type --
To be built. Construction will begin with contract to start. This is your opportunity to have a custom home built and still have the availability to pick out your homes finished look. Home is located in the beautiful Three Canyons area in the Covey Run subdivision. Mountain Views and scenic living all around.

30645 N 44th Street Cave Creek, AZ 85331

$669,500
4 Beds
2 Baths
2,186 SqFt
Status Active Under Contract
MLS # 6704448
Property Type Single Family Residence
Price Type --
Welcome to Tatum Ranch with miles of walking paths, landscaped common areas, playgrounds & golf course. Recent updates include new a/c in 2018, new LVP flooring in main living area. Home boasts a spacious open floor plan ideal for hosting gatherings. The family room is adorned with a stunning stacked stone fireplace opening to the kitchen featuring granite countertops, stainless steel appliances, & sleek flooring that extends throughout all main traffic areas. This home offers an array of exquisite details including plantation shutters. The outdoor living experience includes a backyard designed for year-round entertainment with the pool,outdoor fireplace, deep covered patio & BBQ area. Minutes to Desert Ridge, downtown Cave Creek, Scottsdale, hiking, mountain biking & world class golf.

1503 Demerse Avenue Prescott, AZ 86301

$669,500
4 Beds
3 Baths
2,098 SqFt
Status Active
MLS # 6727476
Property Type Single Family Residence
Price Type --
BRAND NEW CUSTOM HOME IN PRIME LOCATION - Only a few minutes from historic downtown and a stone's throw from shopping, medical facilities, restaurants, schools and much more, you've found a rare opportunity to own a beautifully appointed new construction home in a well-established Prescott neighborhood. Enjoy single level living in a split, 2098 s.f. floorplan that efficiently utilizes every square foot - with 4 bedrooms, 3 baths, and an open concept central living space perfect for everyday family life as well as entertaining. Spend cozy evenings in the great room; a wood-mantled corner gas fireplace with blower adds both warmth and welcoming ambiance. The gorgeous contemporary kitchen is bright and cheerful in addition to being highly functional: exceptional storage is found in plentiful white cabinetry with lighting, eat-at island, and pantry; easy-care quartz countertops and on-trend tiled backsplash; and classic stainless steel appliances including gas range. Unwind at day's end in a luxurious master ensuite, where dual sinks, large walk-in closet, private commode closet, three linen cabinets, and a spacious, eye-catching glass enclosed shower all make for comfortable sharing. Your secondary bedroom also boasts an ensuite - a lovely feature for guests, extended family, or an elder child. Nicely sized closets in bedrooms 3 and 4. A utility sink, cabinets and counterspace enhance the large laundry room. Thoughtfully chosen features throughout not to miss: Shaw vinyl plank flooring, Moen fixtures, and abundant recessed canned lighting in addition to lighted ceiling fans. Outdoor covered seating arrangements are afforded by a front porch plus a back patio. Room to park and tinker in your oversized 2-garage (24'x26'), with a handy service door to the exterior and with pull-down ladder access to ample attic storage. The solid construction is showcased by spray foam insulation in 2x6 walls and roof, highly rated Pella windows, durable Hardie Plank siding, and a tankless Navien water heater with recirculation system to keep hot water at hand. Possible RV parking, should you wish. Low-maintenance landscaping is ready for your personalizing touches to create your dream yard. Invest in this delightful gem today!

2265 S Willow Way Pinetop, AZ 85935

$669,000 - 3Br/3Ba -  for Sale in Top Of The Woods, Pinetop
New
$669,000
3 Beds
2.5 Baths
1,829 SqFt
Status Active
MLS # 6758749
Property Type Single Family Residence
Price Type --
Welcome home to your mountain retreat in the heart of Pinetop, Arizona, nestled within the majestic Ponderosa pines of the beautiful White Mountains. This custom new construction home offers the perfect blend of modern luxury and serene mountain living. ***Featuring exquisite custom doors and windows, this home is designed to capture the natural beauty of its surroundings while providing an abundance of natural light and stunning views. ***The spacious and inviting covered deck is perfect for outdoor living, allowing you to enjoy the fresh mountain air and tranquil forest setting year-round. ***Step inside to find an open-concept layout with high-end finishes and thoughtful design touches throughout. The home boasts luxury vinyl flooring and quartz countertops, complemented by More.. dovetail, soft-close cabinets throughout. ***The kitchen is a chef's delight, featuring a huge island, Whirlpool stainless steel appliances, and a gas stove, all seamlessly integrated into the living and dining areas. ***Aspen tongue-and-groove vaulted wood ceilings in the great room extend to the covered deck, enhancing the home's rustic charm. ***The master suite offers a luxurious custom-tiled shower and a large soaker tub, providing a private oasis. Guest rooms are thoughtfully located on the opposite side of the home for added privacy and comfort. ***Additional features include a spacious pantry, a separate laundry room with ample storage, and a large 650 sq. ft. garage designed to accommodate a full-size pickup and SUV. ***The home has spray foam insulation for the ultimate energy efficiency year round. The location is just half a mile to the crown jewel of Pinetop-Lakeside, Woodland Lake Park, offering endless opportunities for outdoor activities and scenic beauty. Experience the unparalleled charm and comfort of this custom home. Surrounded by nature and crafted with meticulous attention to detail, it's a haven for those seeking a unique and luxurious mountain lifestyle. Book your private tour today and make this extraordinary property your own! What makes this home extra special are the builder upgrades to the home: Upgraded exterior and interior doors Upgraded Windows Spray foam insulated including garage Upgrade cabinets with dove tail drawers, boxes made out of real wood not partial board. Soft closing drawers and doors. Custom tiled master bath and soaking tub. Guest bath custom tile. Vaulted ceilings with aspen tongue and groove 11''x27' covered back porch with aspen t&g lid. Corner lot with extra ground due to utility easements on two sides to make a bigger lot. Custom insulated 8 ' garage door for 650sqft garage 30 year roof. Over built foundation for extra strength with interior footing. Split face block stem walls.

18235 E Coronado Cave Court Rio Verde, AZ 85263

$669,000
3 Beds
2.5 Baths
1,678 SqFt
Status Active
MLS # 6674813
Property Type Single Family Residence
Price Type --
Unobstructed Views of the Majestic Four Peaks whether you step in or out of this highly upgraded Brand New Valletta Model at Trilogy. This 3 bed, 2.5 bath cul-de-sac residence has beauty and privacy with no neighbors at the back or the unattached side. The gourmet Grey/white kitchen boasts a stunning large Quartz Waterfall Island with a breakfast bar and equipped with built in SS Monogram wall appliances with an electric cooktop and a pantry. The upgraded stacked slider doors in the Great room opens to an extended patio, complete with an upgraded pergola and extended pavers. The Primary bedroom with a walk in closet, custom tiled master bath thoughtfully upgraded with a door for privacy. Brand New Washer Dryer and the lock and leave home comes with the builders Warranty too.

12312 W Luxton Lane Avondale, AZ 85323

$669,000
4 Beds
3 Baths
2,497 SqFt
Status Active
MLS # 6696707
Property Type Single Family Residence
Price Type --
This 4-bedroom 3-bathroom home that boasts 10 foot ceilings, 8 foot interior doors and a 3 car garage. Designer finishes throughout make this home as beautiful as it is functional. The gourmet kitchen features an oversized island, upgraded countertops and cabinets and GE stainless steel appliances. You will love the finishes throughout the home including designer selected tile flooring, upgraded carpet and pad in all bedrooms and gorgeous backsplash in the kitchen and Owner's Bath. Find time for yourself in your huge Owner's Retreat with a large bathroom featuring a Super Shower with tile surrounds and oversized walk in closet. Your 16' multi-slide glass door opens to a large covered patio and oversized backyard. 2x6 construction and extensive new home warranty.

3582 N 160th Avenue Goodyear, AZ 85395

$669,000
2 Beds
2 Baths
1,829 SqFt
Status Active
MLS # 6724677
Property Type Single Family Residence
Price Type --
LOCATION LOCATION LOCATION!! This lovely and well cared for home sits on a very unique lot. Featuring 2 bedrooms plus a den, fresh interior 2 tone paint, granite counters throughout, custom plantation shutters, newly installed soft water system, 3 car garage with epoxy floor and built in cabinets, golf course views from the back AND front with neighbors on only one side!! You'll be hard pressed to find a home this well cared for on such an amazing lot!! Don't miss out!! SELLERS ARE MOTIVATED, BRING US AN OFFER!

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