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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787 W Rock Needle Trail Apache Junction, AZ 85120

$667,990

4 Beds

3 Baths

2,607 SqFt

Status Active

MLS # 6750732

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 3% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Livorno floor plan offers a stylish single-story design with four bedrooms, an All Gen suite, and a spacious flex area ideal for an office, TV room, or study. The home includes front yard landscaping and will be ready for occupancy in October. Conveniently located near community parks, grocery stores, and a variety of dining options.

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3757 S Honeysuckle -- Mesa, AZ 85212

$667,623

4 Beds

3 Baths

2,474 SqFt

Status Active

MLS # 6754741

Property Type Single Family Residence

Price Type --

MLS#6754741 October Completion! Introducing the Cambridge at Hawes Landmark, a stunning single-story floor plan offering thoughtfully designed living space. This home features 4 bedrooms, 3 bathrooms, an exercise room making it the perfect blend of style and functionality. Step through the welcoming porch into a spacious foyer that leads you past the secondary bedrooms, two full baths, a study, and a convenient laundry room. The open-concept kitchen boasts a gas cooktop, double ovens, 42'' upper cabinets, elegant maple cabinetry with white quartz countertops, and a custom backsplash. Flowing seamlessly into the great room and dining area, this layout is ideal for both relaxing and entertaining. The private primary suite features dual vanity, and a split tub and a shower. Structural options include: gourmet kitchen, paver front porch, exercise room in lieu of tandem, soft water loop, and gas line for future outdoor use.

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5196 E Desert Forest Trail Cave Creek, AZ 85331

$667,000

4 Beds

3 Baths

2,368 SqFt

Status Active

MLS # 6706259

Property Type Single Family Residence

Price Type --

Energy Star Certified, 4 bedrooms, 3 bath home on an incredible homesite with Mountain Views, and plenty of lush desert landscaping! This 2019 built home has been recently updated with a custom master shower, new tile surrounds in the downstairs bathroom, Quartz Bathroom counter tops, fixtures, and Tuftex carpet on the second floor. The high-end finishes include 42'' Glazed cabinets. These gorgeous cabinets blend in perfectly with the Granite countertops, and Subway Tile Backsplash. Wood Plank tile flooring on the first level with herringbone tile in the bathrooms. Enjoy the convenience of a bedroom, and shower on the first floor. The large 15x8 foot glass slider allows plenty of light. HOA includes front land scaping, low maintenance. Plenty of street parking available.

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3264 W Peak View Road Phoenix, AZ 85083

$666,990

4 Beds

3 Baths

2,274 SqFt

Status Active

MLS # 6676238

Property Type Single Family Residence

Price Type --

Below Market Financing Available!!!!!!!!! This single-story home is host to a generous open floorplan where the Great Room, kitchen and dining room seamlessly connect and sliding glass doors offer direct access to the covered patio for indoor-outdoor living. An additional, versatile living space is located off the foyer, while four bedrooms offer enough room for the whole family. Some Photos are renderings of a model home and some are of the actual home.

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2280 E Snowflake Drive Pinetop-lakeside, AZ 85929

$665,000

3 Beds

3 Baths

1,828 SqFt

Status Active

MLS # 6738835

Property Type Single Family Residence

Price Type --

Welcome to this beautiful cabin home located in the prestigious gated community of Pineridge Estates in Pinetop.This home is located on a nice lot with great curb appeal. This home has been gently used as a second home . Once you enter the door, you will be greeted by the open floorplan and vaulted ceilings.The kitchen has plenty of cabinets and counter space for all of your dining needs. A dedicated dining area to host your guests and family. The large family room with vaulted ceilings and a gas fireplace with stone from floor to ceiling is an eye catcher and will be the focal point of this space. Upstairs is the the primary bedroom and two secondary bedrooms. The primary has its own combination tub/shower and walk in closet. The two secondary bedrooms also offer a loft which has been a fun area for kids to hang out in and have as a fort. There is a large loft that adds so much extra living space to the home. This is a great place to cozy up on the couch and watch movies while enjoying the views of all the surrounding windows.Enjoy the scenery from your back and front patio..many relaxing evenings enjoyed sitting and watching the sunsets. This home is located in close proximity to town and wonderful shops and restaurants. The home is 30 minutes from Sunrise Ski Resort and many lakes located in the area. This home has been recently painted on the exterior....offers two hot water heaters for much hot water needs. It is hard to find a home with 3 bedrooms and 3 bathrooms with a loft in a community such as Pineridge Estates.

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23120 W Skinner Road Wittmann, AZ 85361

New

$665,000

5 Beds

2 Baths

2,451 SqFt

Status Active

MLS # 6757949

Property Type Single Family Residence

Price Type --

Beautiful new home on 1.4 acres with 5 bedrooms and an extended 3 car garage! NO HOA! Only a short drive to Surprise and Wickenburg. It has designer touches throughout including quartz countertops, soft close cabinets, under cabinet lighting, stainless steel appliances, tiled backsplash, large center island, walk-in pantry, and range hood. Perfect for entertaining w/ eat-in kitchen, breakfast bar, dining room off the great room, large sliding glass door, 10' ceilings 8' doors. Split floor plan master bedroom has 2 walk-in closets, a large tiled shower w/ double sinks and an exit to the patio.

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4254 S Winter Lane Gilbert, AZ 85297

$665,000

4 Beds

3 Baths

2,869 SqFt

Status Active

MLS # 6757979

Property Type Single Family Residence

Price Type --

Premium Location and corner lot right across from the park. No neighbors on 3 sides of the home. 4 bedrooms and 3 full bathrooms. There is a large bonus room with real wood flooring. Kitchen has 42 inch Cherry cabinets, kitchen island, and stainless steel appliances. Master bedroom is upstairs with a huge walk in closet, dual sinks, separate tub and shower. Two secondary bedrooms upstairs and one bedroom downstairs with a full bathroom. Epoxy flooring in the garage Beautiful backyard sitting area with view fence over looking the grassy area in the back

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1552 E Lodgepole Drive Gilbert, AZ 85298

$665,000

3 Beds

2 Baths

1,834 SqFt

Status Active Under Contract

MLS # 6755659

Property Type Single Family Residence

Price Type --

Step into this beautiful 3-bedroom contemporary home, thoughtfully designed with a desirable Fremont floorplan. The gourmet kitchen is equipped with high-end GE Profile appliances, complemented by white cabinetry, a spacious center island with an apron sink, and elegant granite countertops. For added convenience, there is a gas line out back, providing flexibility for future upgrades. The main living areas feature upgraded tile flooring, while the bedrooms are cozy with plush carpeting. The luxurious primary suite includes a sleek frameless walk-in shower, and custom tile surrounds in the bathroom. This home also comes with modern plumbing fixtures, a washer and dryer, and a soft water loop for convenience. Located on a professionally landscaped lot, the home features pavers at the front entrance and driveway, adding curb appeal and charm to both the front and back yards. Discover the exceptional lifestyle that awaits at Waterston North, where you can relax and unwind with top-tier amenities like a sparkling community pool, a cozy firepit, and a stylish clubhouse. Residents also have access to the fantastic features of Waterston South and Central, including fun-filled splash pads and additional pools perfect for all ages. TriPointe Homes are designed with energy efficiency in mind, boasting ENERGY STAR-rated appliances, modern LED surface lighting, a tankless water heater, and a high-performance HVAC system with sealed ducts. At Waterston, you truly get the best of both worlds: a desirable Gilbert address coupled with access to the award-winning Chandler School District.

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9422 S 7th Place Phoenix, AZ 85042

$665,000

3 Beds

3 Baths

2,251 SqFt

Status Active

MLS # 6742555

Property Type Single Family Residence

Price Type --

New home in the gated community of Avance, where modern meets mountain. Check out this stunning contemporary 3 bed, 3 bath home with a 3-car garage and den built in 2022 that checks all the boxes! Pull in past the gates and take note of the breathtaking 360-degree mountain views as you drive up to the property. Step inside and be greeted with a beautifully designed interior, abundant natural light, open floor concept, and exquisite flooring throughout. Prepare your favorite meal in the upgraded kitchen featuring a functional oversized island, under mount Blanco sink, plenty of custom cabinetry, and a walk-in pantry. This home is LEED® and EnergyStar® certified, boasting energy-efficient tankless hot water heaters, energy-efficient windows, and a water softener. The backyard is a blank canvas for you to create your own perfect outdoor oasis. The community amenities are top-notch! Head over to the community center for a refreshing dip in the sparkling pool, unwind in the spa, work up a sweat in the fitness center, challenge your friends to a game of ping pong, or gather around the custom fire pit to stargaze. The resort-style living at the foothills of South Mountain in the master-community of Avance includes a state-of-the-art recreation center with a 3,600-square-foot beach-entry pool perfect for laps and leisure, a spa, and a fitness center equipped with a weight room, cardio area, aerobic and strength training classes. In addition, Avance features seven neighborhood parks with various amenities such as volleyball courts, oversized outdoor fireplaces, and scenic walking paths. With direct access to over 16,000 acres of hiking trails, this location offers the best of both worlds - the peace and tranquility of mountain life with easy access to the vibrant nightlife of Downtown Phoenix. Don't miss this rare opportunity to live in the luxurious gated community of Avance, nestled at the foothills of South Mountain Preserve. Experience the ultimate in modern living!

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12260 W Lone Tree Trail Peoria, AZ 85383

New

$665,000

4 Beds

2.5 Baths

2,908 SqFt

Status Active

MLS # 6758362

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 2.5-bath single-level home nestled in the highly desirable Vistancia community of North Peoria. This spacious 2,908 sq ft home sits on a coveted north/south exposure corner lot, offering a perfect blend of style, comfort, and convenience. Step inside to discover an expansive open floor plan, where a neutral color palette, oversized tile, and luxury plank flooring set the tone for modern living. The central gourmet kitchen is a dream, featuring stainless steel appliances, gleaming granite countertops, a water softener, and a large center island with a breakfast bar. The kitchen flows seamlessly into the casual dining area and great room, creating an ideal space for both daily living and entertaining. Just beyond, enjoy easy access to the backyard pool oasis, complete with a sparkling heated pool, spill-over spa, cozy firepit chatting space, and an extended covered patio, all perfect for relaxing or hosting friends and family. The owner's suite is a true retreat, offering a spacious ensuite bath with dual sinks, custom-tiled walk-in shower, a deep soaking tub, and a generous walk-in closet. Three additional bedrooms, 1.5 baths, and a versatile office with built-ins provide ample space for work, rest, and play. A formal dining room and convenient laundry room round out this fantastic floor plan. Located just a short walk from top-rated Vistancia Elementary, multiple parks, playgrounds, and the Mountain Vista Clubhouse, this home offers unbeatable access to community amenities, including tennis & pickleball courts, indoor basketball court, game room, two resort-style pools, water slides, and a splash pad. Plus, you're just minutes away from the Four Corners area, where you'll find popular restaurants, shopping, and easy access to Loop 303 for commuting. This home truly has it all - submit your offer today!

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4226 E Everett Drive Phoenix, AZ 85032

$665,000

3 Beds

2 Baths

1,267 SqFt

Status Active

MLS # 6750491

Property Type Single Family Residence

Price Type --

Welcome to this tastefully remodeled and well cared for home in a desirable neighborhood. The flooring in the great room ties together the living room, dining area and a kitchen that features quartz counters and a brand new complete appliance package. Both the primary and hall bathrooms have been completely remodeled with upscale finishes. The 2-car garage has epoxy flooring, and the walls and attic rafters have been foam insulated for improved energy efficiency. The front yard is nicely landscaped and the walled-in backyard has a large natural grass area with plenty of room for the future addition of a swimming pool. The neighborhood is located less than 2.5-miles from the reimagined PV dining, entertainment, and retail experiences. Come discover your new home.

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1117 W Newport Beach Drive Gilbert, AZ 85233

$665,000

4 Beds

2 Baths

2,348 SqFt

Status Active

MLS # 6745498

Property Type Single Family Residence

Price Type --

Welcome to Windhaven in the waterfront community of The Islands in Gilbert, Arizona—recently recognized as the best city in the state for raising a family. This exceptional single-level home is ideally positioned between the vibrant growth of downtown Gilbert and downtown Chandler. With effortless freeway access, you'll enjoy a swift commute to Sky Harbor Airport and downtown Phoenix. Featuring soaring ceilings, fresh interior paint, and abundant natural light, this home is designed for both comfort and style. The spacious living areas are perfect for entertaining, and the private pool adds a touch of relaxation to your everyday life. This is a rare opportunity to own a property in one of Gilbert's most sought-after neighborhoods. Don't miss your chance to make this dream home yours!

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