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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3516 N 103rd Avenue Avondale, AZ 85392
$655,956
4
Beds
2.5
Baths
3,456
SqFt
Status
Active
MLS #
6639394
Property Type
Single Family Residence
Price Type
--
MLS#6639394 Ready Now! Welcome to the innovative 45-5 plan at Parkside Almeria, showcasing a sophisticated and functional design. This striking floor plan boasts 4 bedrooms, 2 full bathrooms, and 1 half bathroom. The 3-car split garage ensures convenience and abundant storage. At the core is the open kitchen, equipped with a GE Cafe gourmet cooktop, 42'' upper cabinets, and exquisite quartz countertops. Experience a blend of modern aesthetics and expansive living in this meticulously designed residence that harmonizes comfort and style. Step into a home that surpasses expectations, setting the standard for contemporary living. Structural options include: garage service door, soft water loop, two tone paint, gas line for future outdoor kitchen and soft water loop. great amenity area with community pool, Basketball court, pickle ball courts, playground and ramada. Fun for everyone!
27210 N 74th Lane Peoria, AZ 85383
$655,335
3
Beds
2.5
Baths
2,051
SqFt
Status
Active
MLS #
6734117
Property Type
Single Family Residence
Price Type
--
Prime lot, no back neighbor-ready to call home in October 2024. Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'El Dorado' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of similar spec home, options may vary-home is under construction**
4730 S Emery -- Mesa, AZ 85212
$655,000
5
Beds
4
Baths
3,937
SqFt
Status
Active
MLS #
6670989
Property Type
Single Family Residence
Price Type
--
*New List Price* This 5-bedroom 4 bath home that is priced to sell today. The main floor boasts both family and living rooms, an eat in kitchen with large island and walk in pantry. An oversized bedroom and a full bath are conveniently located on this main floor. There is a separate garage next to this room making a private entrance for the new homeowner. There is a large loft area upstairs which provides limitless possibilities. The over-sized primary suite is perfect for a stay-at-home vaca including a remodeled bathroom and sitting area. Don't miss the huge walk-in closet. The backyard is secluded and has mature trees that offer shade and lots of room to play or just relax.
19930 W Virginia Avenue Buckeye, AZ 85396
$655,000
4
Beds
2.5
Baths
2,571
SqFt
Status
Active
MLS #
6692605
Property Type
Single Family Residence
Price Type
--
5K towards buying down your rate! Come see this well-built custom home located on one full acre! CLEAN and well-cared for, with an open great room area as well as a private living room. Enjoy a large back patio, great for entertaining and positioned for cooler shade when you need it most. This spacious yard has trees and landscaping (all on an automatic watering system) with lots of room leftover to make it your own. Large 3 car garage, ample driveway/parking areas, 2 rv gates, and outbuilding/shop. Mature Citrus trees, Oranges, Grapefruit and Lemons. Large master suite with spacious closet and bathroom. The 4th bedroom may be used as an office etc as it has it's own separate entrance onto the back patio. Vacant & move-in ready!!!
3161 S 183rd Drive Goodyear, AZ 85338
$655,000
3
Beds
2.5
Baths
2,390
SqFt
Status
Active
MLS #
6706885
Property Type
Single Family Residence
Price Type
--
Discover your dream home in the desirable Las Brisas community of Goodyear, AZ! This elegant 3-bedroom, 2.5-bathroom residence features a versatile flex room/office and an upgraded RV garage with A/C mini splits and epoxy flooring. Boasting 2,390 sqft of living space on a sprawling 12,765 sqft corner lot, this property offers breathtaking views of the Estrella Mountains. Step inside to find a beautifully upgraded gourmet kitchen, complete with 42-inch upper cabinets, quartz countertops, and top-of-the-line appliances. The open-concept layout is enhanced by upgraded flooring and warm interior colors, creating an inviting atmosphere throughout. The living area is perfect for entertaining, with a multi-slide door that opens to a spacious back patio showcasing gorgeous views. The primary suite is a private retreat, featuring a deluxe walk-in shower and ample space. Enjoy added security and style with a main entrance security door and pavers. The upgraded ceiling fans throughout the home add to the comfort and elegance. Outside, the huge backyard is a blank canvas ready for your personal touchideal for family gatherings, outdoor cooking, or additional landscaping. The RV gates provide easy access and convenience for your recreational vehicles. Don't miss the opportunity to own this exceptional home with stunning mountain views and endless potential. Schedule a showing today and experience the luxury and charm of Las Brisas living!
11785 N 143rd Drive Surprise, AZ 85379
$655,000
4
Beds
3.5
Baths
4,500
SqFt
Status
Active
MLS #
6712003
Property Type
Single Family Residence
Price Type
--
MOUNTAIN GATE 2 Story w/ POOL IN PRIME LOCATION!! One of the largest homes in the exclusive gated community of Mountain Gate. Offering appx. 4,500 sq.ft. this is a great opportunity to purchase a 4 bed + 3.5 bath + 3 flex room home. Upon entering you are greeted with a spacious formal living room with electric fireplace & shiplap style accent wall. Across the entry way you find flex room 1 w/ wet bar area enclosed with French doors. The kitchen overlooks the family room & includes a gas stove w/ double ovens, an island w/ bar seating, and granite countertops. There is an additional built-in oven and microwave! The family room is a great gathering place w/ a gas fireplace & large barn door to separate it from flex room 2. NEW downstairs HVAC system recently installed! (10k value) Upstairs you find the owner's suite w/fireplace and spacious bathroom, additional bedrooms (3), bathrooms (2), and a LARGE loft (flex 3). The owner's suite bathroom has a his & hers sink area, jetted soaking tub, walk-in shower, separate toilet room, & large walk-in closet. Additionally, you will notice upgrades including plantation shutters throughout and arched doorways!! Downstairs laundry which has additional cabinets, countertop space for folding, and can accommodate a second refrigerator. The backyard is spacious with a large 5 ft. deep pool with steps. There is a built-in kitchen with grill perfect for cooking outdoors. The covered patio is complete with outdoor fireplace and sitting area. Part of the yard has grass which could be reseeded or could be a blank canvas for whatever you want to add! Owners will enjoy their peach and lemon trees! Storage shed on side yard will stay. This location couldn't be any better as it sits minutes from schools, shopping, fine dining, and more! The Villages at Prasada are minutes away, including favorite stores like Costco, Home Goods, Sprouts, and soon to be built Target.
25260 S Cloverland Drive Sun Lakes, AZ 85248
$655,000
3
Beds
3
Baths
2,283
SqFt
Status
Active
MLS #
6713354
Property Type
Single Family Residence
Price Type
--
Location, Location, Location...Popular customized Barcelona model with casita and 2.5 car garage on the finger lakes in the special active adult community of Palo Verde in Sun Lakes. Quaint gated courtyard, perfect for morning coffee. Open great room concept with enormous windows and slider looking over the serene water views. Kitchen has granite counters, pantry and ample cabinet space. Spacious master suite with sitting area and fireplace, sliders to patio, tub, walk-in shower and giant master closet with skylight. Spare bedroom with vaulted ceilings. Casita with full bathroom and walk-in closet. This one is all about the lake setting, and they don't come available often! Start enjoying gated Palo Verde with golf, tennis, pickleball, fitness center, walking paths and great restaurants.
11050 E Ravenna Avenue Mesa, AZ 85212
$655,000
5
Beds
4
Baths
3,758
SqFt
Status
Active
MLS #
6733261
Property Type
Single Family Residence
Price Type
--
Fabulous, move-in ready home, lovingly cared for by original owner. Enter the large mosaic foyer with its 27' ceiling, gaze upon the beautiful curved wrought iron staircase ascending to the large loft. Master suite is split from the OTHER 3 second level bedrooms and boasts a tranquil sitting room and huge master bath. Master bath reveals double sink vanities, large walk-in closet, soaking tub, private toilet room and a ''rain glass'' shower; all tiled and meticulously maintained. An en suite bedroom is one of the 3 other second level bedrooms. The first floor level has a full bedroom and bath, great for guests! Living room and dining room are open and spacious with great access to the large eat-in kitchen. Continue reading for more features.... Upgraded cabinets, travertine tile backsplash, granite counters, prep island/breakfast bar, SS appliances and a walk-in pantry. Family room is large and has a gas fireplace. Home is wired for speakers. Beautiful mature landscape front and back, with upgraded irrigation and new timer. The backyard has view fencing and backs to a protected desert wash and NO neighbors! You won't find a better value. Priced below comps!
23871 N 167th Lane Surprise, AZ 85387
$655,000
4
Beds
3
Baths
2,646
SqFt
Status
Active
MLS #
6733618
Property Type
Single Family Residence
Price Type
--
Nestled in a serene Asante neighborhood, this stunning home features 10-foot ceilings that enhance its grandeur. The eat-in kitchen, a chef's dream, boasts exquisite cabinets and quartz countertops, combining elegance with functionality. The split and open floor plan ensures privacy and a seamless flow between living spaces, perfect for entertaining and daily living. The charming casita, separate from the main house, includes a private entrance, full bathroom, fully-equipped kitchen, private garage access, laundry facilities, and a private patio, ideal for guests or extended family. Favorable solar lease terms keep energy bills low. This home is a true sanctuary of comfort and style.
3680 S Ashley Place Chandler, AZ 85286
$655,000
4
Beds
2.5
Baths
2,767
SqFt
Status
Active
MLS #
6750079
Property Type
Single Family Residence
Price Type
--
Enter into a realm of charm and style with this incredible 4-bed, 2.5-bath home in Markwood Community! A 3-car garage, RV gate, and mature landscape are worth mentioning. Perfectly flowing living & dining room offers soaring ceilings, bountiful natural light, and wood-look tile flooring in all the right places. Large great room has pre-wired surround sound, which is awesome for entertaining & everyday living. Well-appointed kitchen boasts abundant cabinets with crown moulding, granite counters, a two-tier island with a breakfast bar, SS appliances, a pantry, a ceiling pot rack, and a breakfast nook. Head to the main retreat, complete with outdoor access, an ensuite with dual sinks, make-up desk, enclosed glass shower, and a walk-in closet. Convenient loft is ideal for a recreation area! Stunning backyard is a true gem, showcasing a covered patio with ceiling fans, pergola, fire pit, built-in BBQ, and an impressive pool with rock waterfall. This amazing abode has it all!
13369 E Kings Deer Road Parks, AZ 86018
$655,000
3
Beds
2
Baths
1,710
SqFt
Status
Active
MLS #
6752465
Property Type
Single Family Residence
Price Type
--
This beautiful, custom, owner build, situated perfectly in the heart of Parks surrounded by tall Ponderosa Pines, is the mountain home you have been dreaming of! The front, sweeping, covered deck welcomes you in. Step inside and you will find tall ceilings, an abundance of natural light that gives you a bright and open floor plan. The kitchen features an oversized built in refrigerator, built in double oven with custom cabinets and a propane range stove. The spacious island at the center of the kitchen gives ample, additional counter space and room to gather around. The kitchen also features an eat-in space with room for your dinning table. Move over to the living room and cozy up by the beautiful fireplace on those winter evenings! The copious primary bedroom features an en-suite bathroom with dual sinks and a relaxing, custom built shower. Two, oversized additional bedrooms on the opposite side of the house give you all the privacy you could need. Large guest bathroom with a shower/tub combo. Separate laundry room that offers space for washing, drying and folding tucked away from the rest of the house. Oversized two car garage is attached to the house for ease of access during the mountain elements. The backyard has an additional covered deck to take in the beautiful country life Parks has to offer. The high producing well makes water access something you don't have to worry about! With county maintained roads and just minutes to the quaint Parks store, 15 miles to the town of Williams and 19 miles to Flagstaff, Parks is situated in the middle of it all! If you are dreaming of country life with easy access to the surrounding cities, come see what Parks Arizona has to offer!
3453 E Milky Way Gilbert, AZ 85295
$655,000
5
Beds
2.5
Baths
2,708
SqFt
Status
Active
MLS #
6753788
Property Type
Single Family Residence
Price Type
--
Beautiful 5-Bedroom Home with Modern Upgrades & Stunning Outdoor Space! Welcome to this spacious 5-bedroom, 3 bathroom home, packed with thoughtful upgrades that combine style, comfort, and functionality. Step inside to enjoy the comfort of a new A/C system and energy-saving certified window screens throughout the home. The centerpiece of the kitchen is an impressive large functional island with built-in refrigerators, complemented by a deep sink, and a water conditioner system, making it the perfect space for cooking and entertaining. The home also features custom room-darkening blinds for added privacy, and has been recently refreshed with new exterior paint. This well-kept property is move-in ready, providing you with comfort and peace of mind. Don't miss the opportunity to make this elegant and practical home yours!