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.

Click Here to See What Your Home is Worth

2677 E Ficus Way Gilbert, AZ 85298

$649,000
3 Beds
2 Baths
2,249 SqFt
Status Active
MLS # 6742444
Property Type Single Family Residence
Price Type --
. Welcome to your new oasis in Gilbert! This delightful 3-bedroom, 2-bathroom home is perfectly situated near the serene Gilbert Regional Park, offering both tranquility and convenience. As you step inside, you're greeted by light-filled, spacious rooms featuring plantation shutters, designer fixtures, and hardware throughout. The perfect floor plan includes a formal living room, dining room, and a separate den. You'll love entertaining in the open-concept island kitchen, complete with custom cabinets, a gas stove, and an inviting family room that overlooks a serene patio. The patio, with pavers and mature professional landscaping, includes a built-in gas BBQ, making it ideal for summer barbecues and outdoor gatherings. The spacious master suite is a peaceful retreat with large window

2125 W Highridge Road Wickenburg, AZ 85390

$649,000
3 Beds
2.5 Baths
3,141 SqFt
Status Active
MLS # 6736978
Property Type Single Family Residence
Price Type --
Welcome to this delightful home that perfectly combines comfort and countryside living. Set on a spacious 2-acre lot, this property offers scenic views and a small horse setup, ideal for equestrian enthusiasts. Inside, you'll find an inviting family room, perfect for relaxing and spending quality time together. The formal living room and formal dining room provide dedicated spaces for entertaining and special occasions. The modern kitchen is well-equipped with all the essentials, making meal preparation a breeze. The bedrooms offer cozy retreats, with the primary suite featuring an en-suite for added privacy and convenience. A versatile bonus/game room adds extra living space, perfect for entertaining guests, family fun, or quiet relaxation. Step outside to enjoy the expansive views and the beauty of nature that surrounds this property. The small horse setup adds a touch of rustic charm and functionality, making this home a rare find. Experience the perfect blend of modern living and rural serenity in this wonderful home. Your dream of countryside living with all the comforts of today awaits.

9510 W Menadota Drive Peoria, AZ 85382

$649,000 - 2Br/2Ba -  for Sale in Mountain Park Estates At Westbrook Village, Peoria
Open House
$649,000
2 Beds
2 Baths
2,147 SqFt
Status Active
MLS # 6754942
Property Type Single Family Residence
Price Type --
Amazing 2+2 updated home in the adult 45+ community of Westbrook Village. 2147 SF home with a huge low maintenance yard. The kitchen, bathrooms and flooring were all updated in 2016. Roof was replaced in 2022. Garage door opener 2023. Water heater 2021. New air conditioning 2018. Front patio tile in 2024. 2 clubhouses and pools. Tennis and Pickleball. Golf course community. Close to all shopping and restaurants. This will not last long!

12122 N Finch Drive Fountain Hills, AZ 85268

$649,000 - 3Br/2Ba -  for Sale in Morningside At Lakeside Village Phase 2 Amd, Fountain Hills
Open House
$649,000
3 Beds
2 Baths
1,794 SqFt
Status Active
MLS # 6753161
Property Type Single Family Residence
Price Type --
Super clean and well maintained 3 bedroom, 2 bath patio home in the Morningside at Lakeside community. Home has newer windows, updated kitchen & bathrooms. Vaulted ceilings make it feel much larger than it is. Private fenced backyard with trees. Attached 2 car garage with new epoxy flooring & direct access to home. You will love the bonus room off Primary Bedroom too. Polished Travertine tile throughout, No Carpet. Low maintenance yard and home. Perfect for lock and leave or full time residence. Close to the Fountain park, hiking trails, dog park, skate park. Community features a heated community pool, spa, ramada plus a small picnic park.

17572 W Polaris Drive Goodyear, AZ 85338

$649,000 - 5Br/3Ba -  for Sale in Estrella Mountain Ranch, Goodyear
Open House
$649,000
5 Beds
3 Baths
3,011 SqFt
Status Active
MLS # 6750396
Property Type Single Family Residence
Price Type --
RARE 4 CAR GARAGE. Nestled at the base of the Estrella Mountains is the highly desired community of Estrella Mountain Ranch. This is where you'll find this rare 5 bedroom, 3 bath home with a 4 car garage, and pool. As you enter, you'll love the vaulted ceilings that provide ample natural light that fills the rooms, not to mention the plantations shutters. This will lead into the open concept kitchen - family room that features lovely views to the backyard that boasts a sparking pool, grass areas, large covered patio, tasteful landscaping and, your very own: two 30+ foot palm trees. The kitchen features stainless appliances, Corian counter tops along with 42'' cabinetry. You'll also love that there's a bedroom and adjacent bathroom on the main floor which is perfect for guests: see more Or multi-general living. Upstairs is where you'll find a large loft space along with 3 nice sized bedrooms serviced by a full bathroom with shower and dual sinks. The primary bedroom sports terrific views and a large en suite bathroom featuring separate tub and shower, dual vanities, private toilet room, and a large walk-in closet. You're just a short walk or bike ride to the lakes here in Estrella. This amazing home is just a couple minutes drive to Mountain Ranch Marketplace which is home to Safeway, Starbucks, Subway, medical and dental care and a list of many more services. By the way, you can cancel your gym membership as Estrella offers two residence clubs both with state-of-the-art workout facilities. These clubs also feature swimming pools, banquet facilities, restaurants and more. The community boasts two elementary schools and a highly touted high school. This home is a rare find in a vibrant community, offering the perfect combination of convenience, comfort, and style. Don't miss the opportunity to make this your dream home!

4147 E Jesse Street Gilbert, AZ 85295

$648,901
3 Beds
2.5 Baths
1,737 SqFt
Status Active
MLS # 6736687
Property Type Single Family Residence
Price Type --
This beautiful Textiler plan, 1735 sf single story home with 3 car garage is beautifully laid out with 3 bedrooms and 2.5 baths off a spacious great room with open gourmet kitchen. The master bedroom features a roomy walk in closet and a beautifully appointed master bath highlighted by a gorgeous Marbella spa shower and matching vanities. Beautiful tile flooring shows off the wonderful great room which opens to the outside with an expansive 16' atrium glass door. The gourmet kitchen features upgraded 42'' upper Linen cabinets with upgraded crown molding. The granite countertops are highlighted by the upgraded 3 x 12 full tile backsplash. This home shows like a dream!

15125 W Yucatan Drive Surprise, AZ 85379

$648,900
6 Beds
3 Baths
3,810 SqFt
Status Active Under Contract
MLS # 6753667
Property Type Single Family Residence
Price Type --
Step into your dream home! This home's NEWER ROOF will ensure peace of mind for many years to come. This stunning, remodeled property boasts a chef's kitchen with a massive island, perfect for gatherings and culinary delights. The 20 ft ceilings enhance the spacious feel to the family room and having two downstairs bedrooms offers plenty of flexibility. The expansive master suite is a private haven, adorned with gorgeous bamboo floors, 3 vanities, soaking tub and custom closet organizers. This home is a perfect blend of luxury and practicality. The outdoor area is a true retreat, with a pergola and motorized sun screens for year-round enjoyment. Relax in the large saltwater pool with a Baja step and extended pavers. An EXTRA PARKING PAD adds convenience. ACT TODAY- PRICED TO SELL NOW!

3285 E Phelps Street Gilbert, AZ 85295

$648,500
3 Beds
2.5 Baths
2,485 SqFt
Status Active
MLS # 6728325
Property Type Single Family Residence
Price Type --
This charming single-level home offers 2,485 sq ft of comfortable living space. The split floor plan includes 3 bedrooms, 2.5 bathrooms, and a den. The spacious master suite features an upgraded shower and tub, double sinks, a private toilet room, and a large walk-in closet. The kitchen, perfect for entertaining, boasts granite countertops, an island, and a generous walk-in pantry, all opening up to a welcoming great room. All windows have elegant white shutters. A tandem three-car garage provides ample storage space. Outside, the backyard has a built-in firepit, turf, and recently painted exterior and block walls. With North/South exposure, this home is perfectly positioned near freeway access, San Tan Mall, shopping, and a variety of restaurants.

3533 N Nathan Court Buckeye, AZ 85396

$648,000
3 Beds
2.5 Baths
2,536 SqFt
Status Active
MLS # 6751010
Property Type Townhouse
Price Type --
This stunning home in the private, gated community of Vallarta offers everything Verrado is known for and more. Perfectly situated on the acclaimed Founders Course, this meticulously maintained, model-style home boasts a prime location on a secluded cul-de-sac, with open grassy common areas and breathtaking golf course views. Featuring 3 bedrooms, 2.5 baths, and owned solar panels for minimal electric bills, this home has it all! Enter the gourmet kitchen, a chef's dream, complete with 42'' white cabinets adorned with champagne brass knobs, a stylish backsplash, quartz countertops, stainless steel appliances, a huge kitchen island with ample storage, pendant lighting, a gas stovetop, and a reverse osmosis drinking water system, pull out shelving, and soft close drawers. The stainless steel refrigerator is included making this space ready for your culinary adventures. Wake up to stunning views from the primary bedroom, which features tray ceilings, updated pendant lighting, and access to a private balcony offering panoramic views of the golf course, mountains, and cityscape. The luxurious primary bathroom boasts a spacious tile and glass shower, perfect for a refreshing start to your day. An additional bedroom, bathroom, and loft area complete the upper level, providing flexible living options. The open and airy great room concept floor plan includes a multi-glass sliding door that seamlessly integrates indoor and outdoor living, making it an entertainer's dream. The serene backyard, with extended pavers and a watering system for plants, is an ideal retreat with breathtaking mountain and golf course views. Enjoy cozy evenings by the outdoor fireplace or fire pit, perfect for relaxing and entertaining. Additional home upgrades include a custom wrought iron front door, commercial grade berber carpet and LVP wood-like flooring installed upstairs in 2022, plantation shutters, designer built-ins by Classy Closets, a high-end water softener, ceiling fans with dimmer remotes, and a fully painted exterior add to the home's appeal. Updated lighting in the powder bath, included washer and dryer, Comfort Cooling AC zone differential, owned security system with cameras through ADT, Google Nest door camera, animal deterrent fencing around exterior open fence areas and backyard rain gutters enhance the home's functionality and style. The garage features a heated/cooled air conditioner, garage cabinets, a workshop, and storage racks with a 700+ lb and added insulation in the ceiling for efficiency. Residents of Vallarta enjoy exclusive access to a private pool, set among charming tree-lined streets and lush green landscapes. Verrado offers an array of amenities, including shopping, local restaurants, hiking and biking trails, two additional outdoor pool locations, a fitness center, top-rated A+ schools, and over 78 parks. Community events are hosted throughout the year, creating a vibrant and connected lifestyle. With future developments, including outdoor shopping and a medical center just down the road, Verrado's convenience continues to grow. The HOA covers exterior paint, road maintenance, pool, and all front yard landscape maintenance including irrigation, and water, offering truly Lock and Leave, maintenance-free living. Come experience the best of the Verrado lifestyle in the luxury community of Vallarta. This home is PRICED TO SELL - don't miss out on this exceptional opportunity!

2529 W Moura Drive Phoenix, AZ 85085

$648,000
3 Beds
3 Baths
1,963 SqFt
Status Active Under Contract
MLS # 6734630
Property Type Single Family Residence
Price Type --
Discover this exclusive, fully upgraded home on a rare corner lot with adjacent washes for ultimate privacy and only one neighbor to the east. Enter through a custom iron door to a stunning stone accent wall. A private room with a full bath and a versatile open den provide excellent remote work options with fiber optic internet! The gourmet kitchen features beautiful cabinetry and quartz countertops. The luxurious master suite boasts a striking accent wall and a massive walk-in shower. Enjoy the gorgeous enclosed Arizona room, seamlessly connecting outdoor and indoor living. The backyard oasis includes a custom grilling area. The home also features a three-car tandem garage and solar panels. Sought after by top executives of the Taiwan Semiconductor facility just six minutes away. Equity!

1620 E Hudson Drive Tempe, AZ 85281

$648,000
5 Beds
4 Baths
1,936 SqFt
Status Active Under Contract
MLS # 6744657
Property Type Single Family Residence
Price Type --
Quantity and Quality combined with this ideal 5 bedroom (2 ensuites), 3 bathrooms with an additional 1 bedroom/1 bathroom /living room casita detached in the backyard. All of this and in a cul-de-sac! The stylish useful kitchen showcases shaker cabinetry, stainless steel appliances, and quartz countertops. The sizable backyard allows you to entertain year-round as the space beckons for a future resort style pool/chill zone! Let's not overlook the valuable 1 car garage. Irrigation in both back and front yards. The location is basically an extension of ASU, so it is a short block away just south from the Light Rail (Apache) which also presents easy access to major freeways, shopping and restaurants. With the continued growth of ASU, this property should be useful for all!

10015 W Verde Lane Avondale, AZ 85392

$647,250
5 Beds
3 Baths
2,654 SqFt
Status Active
MLS # 6748882
Property Type Single Family Residence
Price Type --
Find your dream home at Acclaim- Fulton Home's newest master planned community! The Seal Rock is an amazing home featuring 10' ceilings, 8' doors, gourmet kitchen and Atrium glass door to patio. Also included: 2'' faux wood blinds, ceiling fans, paver driveways and much more. Fulton homes are 'Zero Energy Ready' and include tankless water heaters, spray foam insulation, electric vehicle ready and pre plumbing for solar installation. Residents of this incredible community will enjoy an aquatic center with a community pool, basketball courts, pickle ball, sand volleyball, bocce ball, greenbelts and children's playgrounds. This home has an estimated completion date of Fall 2024. Buyer may be able to upgrade appliances at an additional cost.

Leave a Reply

Your email address will not be published.