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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20121 N 76th Street Unit 1014 Scottsdale, AZ 85255

New

$665,000

3 Beds

2 Baths

1,585 SqFt

Status Active

MLS # 6760104

Property Type Townhouse

Price Type --

Beautifully updated ground-floor condo located in the gated community of Vintage at Grayhawk! This move-in ready, single-level home is filled with natural light and offers an open floor plan. The living room has a cozy fireplace and easy access to the private patio. The remodeled kitchen is a chef's dream, featuring granite countertops, a farmhouse sink, refinished cabinets, and stainless-steel appliances. They primary suite includes dual sinks, granite countertops, an oversized seamless glass shower, as well as a spacious walk-in closet designed by California Closets. The guest bathroom has also been stylishly updated. Additional highlights include all closets designed by California Closets, whole house surge protector, two-car garage and a prime location within the complex offering quick access to resort-style amenities such as a community pool, spa, BBQ area, and workout facility. Conveniently located near Scottsdale's top shopping, dining, hiking, golf, and more!

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3785 N 150th Lane Goodyear, AZ 85395

$665,000

2 Beds

2 Baths

1,641 SqFt

Status Active

MLS # 6714594

Property Type Single Family Residence

Price Type --

Gorgeous Home on a Golf Course Lot in the Active Adult Community of PebbleCreek with Resort Style Living. Highly upgraded split floor plan with 2 Bedrooms, 2 Baths plus a Den. Beautiful upgraded 42'' Kitchen Cabinets with Quartz/Leather finish Countertops, Island with Breakfast Bar, Built-in Wine Cooler, Sub Zero Fridge, Gas Stove La Cornue En France with Hood, overlooking Formal Dining Room. Elegant Family Room with Large windows and views with Mountains and Golf Course. Spacious Laundry Room with lots of Cabinets, laundry sink and Upgraded Washer/Dryer. Master Bedroom with walk-out to a Covered Patio. Remodeled Master Bathroom with oversized walk-in Shower, Double Sinks and Walk-in Closet. Peaceful, Covered Patio with Built-in BBQ and lots of room to Entertain. **Dream Home**

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4202 S Mcminn Drive Gilbert, AZ 85297

$665,000

3 Beds

2 Baths

2,027 SqFt

Status Active Under Contract

MLS # 6754224

Property Type Single Family Residence

Price Type --

Former Model Hm, several upgrades*Beautiful open floor plan*Custom Tile Floor*3bdrm 2bth + den w/custom built-in bookcase*Open Kitchen, granite counters, large island overlooks family rm featuring custom wood built-ins*3 multi-slide doors with beautiful view*Mechanical sun-shield blinds*Fridge included*Inside laundry with counter & cabs*Large walk-in Pantry*Beautiful B/Y easy maintain turf*Built- in gas firepit*Built-in BBQ includes beautiful LED Lighting*Surround Sound thru-out*Large Master retreat, custom ceiling & lighting*Spacious Master shower*Master walk in closet*Patio features automatic solar sunshade*Dual Pane Low E energy efficient windows keeps hm cool & electric bill very low*Wired for Security System*Garage features epoxy floors*Great location close to schools shops freeway.

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10447 W Appaloosa Trail Casa Grande, AZ 85194

$665,000

4 Beds

3 Baths

2,190 SqFt

Status Active

MLS # 6750324

Property Type Single Family Residence

Price Type --

The search is finally over! This stunning corner lot horse property is set on a sprawling 1-acre lot! The property features a spacious RV garage, a paver driveway, a charming brick trim, majestic mountain views, and a welcoming front patio. Inside, the great room showcases a cool palette, recessed lighting, and stylish wood-look flooring. The delightful kitchen boasts granite counters, abundant wood cabinetry with crown moulding, chic pendant lighting, stainless steel appliances, a handy pantry, and an island with a breakfast bar. The main bedroom offers plush carpeting, direct backyard access, an ensuite with dual sinks, and a walk-in closet. Venture outside to enjoy breathtaking sunsets in the expansive backyard, complete with a covered patio for al fresco dining, lush natural turf, and endless possibilities to create your dream oasis or equestrian facilities. This gem will sell fast!

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6346 W Hackamore Drive Phoenix, AZ 85083

$665,000

3 Beds

2 Baths

2,152 SqFt

Status Active

MLS # 6687811

Property Type Single Family Residence

Price Type --

This home is well suited for anyone seeking a primary residence. Enjoy homeownership without the hassle of dealing with banks. Property Features: • Beautifully remodeled single-level home in a fantastic neighborhood • Upgraded kitchen and bathrooms with granite countertops • New black kitchen appliances • Fresh custom paint, new light fixtures and ceiling fans throughout • Vaulted ceilings and new blinds for added charm • Spacious den, perfect for a home office or entertainment area • Lush green landscaping with covered • 3 bedrooms, plus a large den, 2 full bathrooms

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9025 S Dateland Drive Tempe, AZ 85284

$665,000

4 Beds

2 Baths

2,214 SqFt

Status Active

MLS # 6742729

Property Type Single Family Residence

Price Type --

Hidden gem of Warner Ranch! With its fresh updates, including white cabinets, granite counters, and a sparkling Pebble Tec pool, it's both stylish and functional. The side yard, built-in BBQ, large covered patio, and space for children and pets make it perfect for outdoor living. New main water line in 2023, new water values, irrigation control panel, water heater new in 2023, AC in 2021 and roof done in 2017. The separate entrance to the pool from the master bedroom and multiple living areas add a touch of luxury and convenience. Being single-level and centrally located near key amenities like shopping, golf, and parks, it's an ideal spot for almost anyone. The proximity to the airport, Scottsdale, and the highly-rated Kyrene School District makes it even more appealing. This home is all about location, convenience, and comfort! Warner Ranch has 2 parks, playgrounds, tennis courts, pickleball courts, soccer, basketball and volleyball too!

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1270 E Springfield Place Chandler, AZ 85286

$665,000

3 Beds

3 Baths

2,502 SqFt

Status Active Under Contract

MLS # 6730578

Property Type Single Family Residence

Price Type --

WOW, This stunning 3-bedroom, 3 bathroom home plus den & large loft is a must-see! With 2,502 square feet of living space, this home is perfect for those who love to entertain. The upgrades throughout the home are impressive, including Cafe GE appliances, a gas range, pot filler, and touchless faucet. The quartz counters and ceramic wood plank flooring add a touch of elegance to the home. The contemporary staircase is a beautiful feature that adds to the overall aesthetic of the home. The primary bedroom is spacious and includes a large bathroom with two sinks and a large shower with dual shower heads. The home sits on a corner lot with easy-care landscaping, making it perfect for those who want a low-maintenance yard. This home is move-in ready and has been meticulously maintained It is located in a desirable area of Chandler and is close to shopping, dining, and entertainment. The view of the sunset from the home is breathtaking and adds to the overall charm of the property. The property is free from any discriminatory language or implications and follows Fair Housing regulations. Don't miss out on the opportunity to own this fabulous home in Chandler!

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5520 N Granite Reef Road Scottsdale, AZ 85250

$665,000

3 Beds

2 Baths

1,399 SqFt

Status Active

MLS # 6728196

Property Type Single Family Residence

Price Type --

This charming 3-bedroom, 1.75-bath home with large lot sits within a desirable Scottsdale neighborhood. A newly updated pool, perfect for soaking up Arizona's sun. This move-in ready beauty invites you to envision the possibilities and its current splendor. Discover a kitchen adorned with Granite Counters, complemented by clean appliances and abundant storage. Wood shutters & ceiling fans throughout enhance your comfort. Plenty of parking, ample storage shed with power, a large, covered patio overlooking a serene backyard oasis with mountain view, this home is a rare find. Also close to middle school. Don't hesitate—seize the moment and come see it today! Owner Agent - being sold AS-IS. Free Appraisal Offer with qualified purchase from The Mortgage Maven.

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4826 W Tortoise Drive Eloy, AZ 85131

$665,000

3 Beds

3.5 Baths

2,806 SqFt

Status Active

MLS # 6707649

Property Type Single Family Residence

Price Type --

BUILT IN 2021! Only 3 years old. You will LOVE this beautiful VIENTA model! This home is 2,805 SF. featuring 3 full bedrooms w/connecting baths, a DEN, 3.5 baths & 3 car garage w/service door! This home is ideal for live in Mother-in-Law or someone just wanting a spacious home! The kitchen features Quartz counters, upgraded cabinets, SS appliances, convection range, RO system, roll-out shelves & pendant lights. This home has lots of builder upgrades such as dry bar in great room, 18'' x 18'' tile flooring, tile showers, comfort height toilets, water filtration system, rain gutters, multi zone HVAC. Step out back to the professionally landscaped backyard w/nature grass, fully fenced yard w/extended covered patio, extended paver patio & paver walkway around house. This home is a MUST SEE

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12546 W Via Caballo Blanco -- Peoria, AZ 85383

$665,000

4 Beds

2.5 Baths

2,468 SqFt

Status Active

MLS # 6740198

Property Type Single Family Residence

Price Type --

A MUST SEE! THIS HOME HAS IT ALL! SMART HOME SETUP, 4 BEDS + DEN, CUSTOM BUILT BARN DOORS, UPGRADED CEILING FANS AND LIGHT FIXTURES, 9' PLUS CEILINGS, 8' DOORS, TILE IN ALL THE RIGHT PLACES. LARGE GREAT ROOM. ARCADIA HAS UPGRADED SECURITY STEEL SCREEN DOORS, BACK YARD FULLY LANDSCAPED WITH ARTIFICIAL TURF. BACKS UP TO WALKING PATH. KITCHEN BOASTS GRANITE COUNTERTOPS, GAS RANGE, WALK IN PANTRY & LOTS OF COUNTERSPACE. SPLIT FLOOR PLAN-MASTER W/ DOUBLE SINKS, LRG WALK IN CLOSET. 3 CAR TANDEM GARAGE HAS POLYASPARTIC FLOORING, SMART OPENER, SOFT WATER SYSTEM OWNED, HOA APPROVED PAVERS IN FRONT FOR 3 CAR PARKING ON SLAB. A BEAUTIFUL HOME READY FOR MOVE-IN! SOLAR IS NOT A LEASE, OWNED WITH LOAN ASSUMPTION, SAME PAYMENTS OF 217.91 EVERY MONTH, CHECK DOCS TAB FOR INFO

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4282 E Ivanhoe Street Gilbert, AZ 85295

$665,000

4 Beds

3 Baths

2,490 SqFt

Status Active Under Contract

MLS # 6726733

Property Type Single Family Residence

Price Type --

Seller offering $10,000 towards rate buy-down. Welcome to this charming Gilbert property, designed with entertaining in mind. From the inviting front porch to the hammock chairs in the backyard, there are ample spaces for relaxation. Step into your private oasis featuring an outdoor kitchen, a pool that's heated and chilled for year-round enjoyment, and citrus trees that offer fresh juice and enhance the landscaping. The recently enclosed sunroom floods the home with natural light, creating an ideal spot to unwind throughout the seasons with fully removable sliding doors. Inside, the open-concept layout boasts vaulted ceilings, a luxurious master retreat with an upgraded custom shower, and a convenient fourth bedroom with a full bathroom downstairs, perfect for guests. Don't overlook the oversized two-car garage with epoxy flooring and an RV gate, adding practicality to this stunning home. Located in Ashley Heights, this neighborhood offers multiple parks, concerts, and food truck nights, ensuring opportunities to create cherished memories in the highly desired Higley Unified School District. 2 New HVACs - 2019 Heater and Chiller for Pool 2019 Variable Speed Pump for Pool 2024 Lemon, Lime, Orange Trees and Cacti 2020 Installed Outdoor Kitchen with Built-in BBQ Cooler, Fryer, Double Grill, Commercial Smoker 2021 Water Softener and R/O 2019

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1377 W Park Avenue Gilbert, AZ 85233

$665,000

4 Beds

3 Baths

2,468 SqFt

Status Active

MLS # 6750295

Property Type Single Family Residence

Price Type --

Beautiful home in highly sought after Villages at North Shores community! The only huge, double-sized 1/3 acre lot in the subdivision and it's ACROSS THE STREET FROM THE COMMUNITY PARK and PLAYGROUND w/HEATED COMMUNITY POOL! A rated schools ! All 2023 Updates include-Ext Paint, Kitchen cabs, granite, sink, faucet & disposal, Primary Shower, downstairs Full Bath, New Carpet & upgraded pad with new baseboards throughout and New dishwasher and microwave as well. 2020- New A/C downstairs, 2019- new H2O heater. 2017-New windows-south side upstairs & down,10x8 Shed with skylight. 2016-NEW ROOF! Garage attic storage w/fire proof pull-down ladder! Plantation shutters! 2013-New Upstairs A/C unit Too many upgrades to name, must see to appreciate! Make it your own! In addition, the fantastic Villages at North Shore include amenities like a pool, playground, basketball court, and miles of lush green areas. What's not to like? Take a tour before it's gone!

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