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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20305 W Peak View Road Wittmann, AZ 85361

$649,900

3 Beds

2 Baths

3,310 SqFt

Status Active

MLS # 6712163

Property Type Single Family Residence

Price Type --

HIGHLY MOTIVATED SELLER!!! This NEWLY EXTERIOR PAINTED home has 3 bedrooms and 2 baths plus multiple office spaces that can be used as a 4th bedroom or whatever your imagination can come up with. SO MANY UPGRADES !!! Floors, Counter tops, Paint...just to name a few. Did I mention it has just over an acre of land zoned for horses and a whopping 6 car garages, 4 are attached to the home while the other 2 are ina seperate building

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3802 N 147th Drive Goodyear, AZ 85395

$649,900

4 Beds

3 Baths

2,680 SqFt

Status Active

MLS # 6703761

Property Type Single Family Residence

Price Type --

Prepare to be enchanted by this stunning 4-bedroom, 3-bathroom residence nestled within the charming Palm Valley Community! Situated on a coveted corner lot, this home features a 3-car garage, RV gate, and lush mature landscaping. Inside, the tastefully renovated interior boasts a contemporary open floor plan with sleek lines and stylish accents. From delightful archways to fresh neutral paint, tile flooring to recessed lighting, every detail enhances the modern ambiance. The heart of the home, the kitchen, is equipped with crown-molded cabinets, built-in appliances, and a charming dining area with a bay window. The expansive primary suite beckons with a cozy sitting area, plush carpeting, an ensuite adorned with dual sinks, and a spacious walk-in closet. Additionally, the second primary bedroom offers a walk-in closet and a private bathroom, perfect for accommodating guests in comfort and style.

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8638 E Palm Lane Scottsdale, AZ 85257

$649,900

3 Beds

2 Baths

1,470 SqFt

Status Active

MLS # 6737598

Property Type Single Family Residence

Price Type --

Freshly updated and just a short drive to Old Town. Large open floor plan. The Farm House Modern style immediately makes you feel at home. Kitchen and laundry room appliances come included. Large pool surrounded by grass. Automatic irrigation. No HOA. Currently has tenants in place for the next 7 months, they are open to continuing lease or ending the lease early as well for an owner/ occupant buyer.

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4990 W Comanche Drive Eloy, AZ 85131

$649,900

3 Beds

3.5 Baths

2,489 SqFt

Status Active

MLS # 6700419

Property Type Single Family Residence

Price Type --

This exquisite property in Robson Ranch boasts one of the best golf course views! Super energy efficient INTEGRA BLOCK CONSTRUCTION. (Additional info in the documents tab about Interga block) Featuring 3 bedrooms, 3.5 bathrooms, a den, & a separate guest casita, this home is defined by its high level of upgrades and meticulous attention to detail. The entrance greets you with a custom paver driveway & mature landscaping. Inside, the large open kitchen features a stack stone high-top bar, custom granite countertops, & backsplash, along with a custom media center & built-in fireplace in the family room. Travertine flooring-baseboards, crown molding, & plantation shutters enhance the majority of the home, creating an elegant atmosphere. The backyard is a standout with its breathtaking...... custom-designed paver patio, built-in BBQ with matching stack stone bar, & zen garden-like landscaping. Climate-controlled 3-CG with a 4' extension, epoxy floor & extensive cabinetry for additional storage. This home is a showcase of luxury and comfort in a coveted location.

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7008 E Lynx Wagon Road Prescott Valley, AZ 86314

$649,900

4 Beds

3 Baths

2,655 SqFt

Status Active

MLS # 6733564

Property Type Single Family Residence

Price Type --

Welcome to beautiful Stoneridge. This home has it all. With plenty of space for friends and familyand all the amenities you need. Main level living with additional bedrooms upstairs. The open floor plan invites you to enjoy family gatherings, perfect for entertaining. Enjoy breathtaking views from the large open lot. Walking distance to the golf course, restaurant and parks. Call today before this home is gone!

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5233 S Ponderosa Drive Gilbert, AZ 85298

$649,900

4 Beds

3 Baths

2,202 SqFt

Status Active Under Contract

MLS # 6694521

Property Type Single Family Residence

Price Type --

Back on Market x 2 as Buyers contingency(s) did not materialize. Nestled in the beautiful Bridges community is this 4bed/3bath/3 car tandem garage on a corner lot. Gorgeous finishes including tile plank flooring t/o except bedrooms, 10' flat ceilings, raised panel cabinets with crown molding, granite countertops, double wall ovens, gas cooktop stove, stainless steel appliances, large island with breakfast bar, large pantry, butler's pantry, Refrigerator, washer and dryer included, 8' doors, double sinks and separate tub and shower in the primary suite, double sinks in bathroom 2, inside laundry with cabinets, low maintenance front and back yards and much more.

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16521 W Valencia Drive Goodyear, AZ 85338

$649,900

3 Beds

2.5 Baths

2,510 SqFt

Status Active

MLS # 6656005

Property Type Single Family Residence

Price Type --

Stunning 3 bedroom, 2.5 bathroom home with a den/office in the coveted community of Estrella Mountain Ranch! It's everything you could want and need! Showcasing a Pool & spa and solar with mountain views, modern open floor plan, gourmet kitchen w/ quartz counters, SS appliances, double ovens, loads of kitchen storage, and a walk-in pantry. The primary bedroom suite is perfect with an oversized super shower, double vanity and enormous walk-in closet. Estrella's amazing amenities included in your low HOA dues are: 50+ miles hiking & biking trails, 35+ parks, pools (one heated), lake with a walking path all the way around, waterpark, splashpad, fishing, boating use at no cost! Nicklaus Troon Golf, Tennis, Pickleball, Basketball, Volleyball, BBQ... Starpointe Residents' Club offers incredible, gourmet lakeside dining, brunch and happy hour overlooking North Lake with spectacular spraying water fountains, at the Lakeside Grill, Estrella. The HOA also hosts many family-centered events out on the lawn, lakeside, between Starpointe and the Yacht Club including things like music concerts, the ballet, fireworks and movies, with almost all of them including food trucks. Presidio Residents Club further back into the community, features a year-round heated pool with splash pad, outdoor showers, mountain views, beautiful social space, sports/ rec game room with pool table and multiple TVs, great room with fireplace, demonstration kitchen, event lawn, fire pits to relax by, 3400sf, state of the art fitness center. The Cantina, Mexican Restaurant has incredible Mexican food, all fresh brasied meats with salsa, sauces, dressings made in house. Cantina also hosts free music~entertainment! I could go on and on... this community is incredible and second to none!! You DO NOT want to miss out on this gorgeous home and lifestyle this community offers!!!

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3131 N Central Avenue Unit 7022 Phoenix, AZ 85012

$649,900

2 Beds

2 Baths

1,125 SqFt

Status Active

MLS # 6413274

Property Type Apartment

Price Type --

*Construction completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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10653 N 11th Street Phoenix, AZ 85020

$649,900

3 Beds

2.5 Baths

1,602 SqFt

Status Active

MLS # 6756687

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This beautifully remodeled residence in the coveted Pointe Tapatio community offers a perfect blend of elegance and modern comfort. With 3 spacious bedrooms and 2.5 bathrooms spread across 1,602 square feet, this home is designed for both relaxation and entertaining with an oversized lot. As you step inside, you'll be captivated by the high-end finishes and meticulous attention to detail throughout. The stunning kitchen is a chef's delight, featuring top-of-the-line appliances, custom cabinetry, and a sleek, contemporary design that seamlessly combines form and function. The open-concept living and dining areas flow effortlessly, creating an inviting space for gatherings. Retreat to your master suite, where you'll find a luxurious walk-in shower and sophisticated finishes that enhance the serene atmosphere. The large lot provides ample outdoor space, including a sparkling pool that's perfect for cooling off on warm days or hosting summer soirées. Enjoy peaceful mornings and vibrant evenings in your private backyard oasis. Located in the desirable Pointe Tapatio neighborhood, you'll enjoy easy access to local amenities, parks, and top-rated schools. This residence is more than just a houseit's a lifestyle.

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12940 N Northstar Drive Fountain Hills, AZ 85268

$649,900

2 Beds

2.5 Baths

1,502 SqFt

Status Active

MLS # 6748159

Property Type Single Family Residence

Price Type --

High ceilings and plantation shutters give this 2-bedroom, 2.5 bath open-concept condo a spacious feel. You'll love the large screen porch with sun-blocking shades, patio, colorful landscaping, and beautiful view of the mountains beyond. The primary bedroom is spacious and both bedrooms feature an ensuite bath and walk-in closet. The kitchen and large laundry room/pantry provide plenty of storage. A gas fireplace separates living and dining areas. And the powder room is plus! Centrally located in the heart of Fountain Hills, The Enclave is a gated, dog-friendly community with a pool - walkable to ''everything downtown.''

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17990 W Raymond Street Goodyear, AZ 85338

$649,900

5 Beds

3.5 Baths

3,553 SqFt

Status Active

MLS # 6753138

Property Type Single Family Residence

Price Type --

Welcome to this stunning, better-than-new 5-bedroom home, perfectly designed for modern living with the owner's suite conveniently located on the main floor. As you enter, you'll immediately feel the warmth and elegance that define this home. The spacious kitchen is a true highlight, boasting an abundance of cabinetry and a generous pantry for all your storage needs. Its open layout seamlessly connects to the dining room and family room, creating an ideal space for entertaining and family gatherings. Need a guest space? The main floor also features a well-appointed guest bathroom for added convenience. Step through the sliding doors into your personal backyard oasis, where a nearly new pool (installed in 2022) awaits. Pool has inground cleaning system. Enjoy the luxury of a clean water systemfree from chlorine or saltproviding you with the refreshing experience of swimming in bottled water! Upstairs, you'll find a spacious loft area perfect for relaxation or play, along with four large bedrooms and two additional bathrooms, ensuring ample space for the whole family. If you work from home, you'll appreciate the dedicated office space located on the main floor, providing the perfect environment for productivity. This home truly has it allstyle, space, and amenities for today's lifestyle. Don't miss the chance to make it yours!

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2735 N 145th Avenue Goodyear, AZ 85395

$649,900

6 Beds

3 Baths

3,590 SqFt

Status Active

MLS # 6711546

Property Type Single Family Residence

Price Type --

Step into this stunning, move-in-ready home and discover your perfect retreat in the highly desirable Palm Valley and the amazing amenities it offers. With new paint throughout and new carpet, this home is ready for your personal touches to make it HOME! Home includes 2 bedrooms and a full bath downstairs. Three living spaces are great for entertaining your family and friends. The generous sized lot includes an RV gate and plenty of space for your pool. Stay cool with the low cost solar lease of $62/month. The seller is including a home warranty. Bring your offer and welcome to your new home!

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