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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22085 E Rosa Road Queen Creek, AZ 85142

$645,000

4 Beds

3 Baths

2,707 SqFt

Status Active

MLS # 6743999

Property Type Single Family Residence

Price Type --

Highly upgraded home with a fantastic layout! Across the street from the park, open layout, office, upgraded wood flooring, tall ceilings & no interior steps. Gorgeous kitchen with large island, gas cooktop, granite counter tops, stainless-steel appliances, breakfast bar, walk-in pantry & wall ovens. The home is well equipped for relaxing with large open areas. The master suite has is large enough for a king sized bed to fit comfortably, the master bath has double sinks, soaking tub, walk-in shower, private toilet room & large walk-in closet. The backyard features a large covered patio & grassy play area. The home is located close to downtown Queen Creek, family parks, restaurants, shopping, grocery stores, top schools & easy freeway access.

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8810 W Carole Lane Glendale, AZ 85305

$645,000

5 Beds

3 Baths

3,610 SqFt

Status Active Under Contract

MLS # 6714182

Property Type Single Family Residence

Price Type --

Welcome! The perfect home for a family! This beautifully upgraded home is ready for you to make your own. Freshly landscaped in 2023, front and back. Making it easy for you to maintain! Location is perfect! Near WestGate entertainment and the future VAI resort. Invest into your home!

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13198 W Crestvale Drive Peoria, AZ 85383

$645,000

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6682953

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION! ATTACHED PRIVATE GUEST SUITE! This space could also be used as a tucked away kids space. With 4 beds, 3 baths, & a 2-car garage with storage, this gem offers comfort & convenience. A desirable open layout enhanced with tall ceilings, an accented wall, a trending palette, wood-plank tile flooring, & sliding glass doors, merging the indoor with the outdoor poolside living. The gourmet kitchen is a homemaker's dream, featuring granite counters, recessed fixtures, a walk-in pantry, ample wood cabinetry with crown molding, an island with a breakfast bar, & SS appliances, which includes a gas cooktop & a wall oven. Retreat to the carpeted main suite, highlighting a pristine private bathroom with dual sinks, a step-in glass shower, & a walk-in close The sizable guest's quarter provides a living room, a kitchenette, & a bathroom. Have fun in the large backyard, complete with a covered patio, artificial turf, pavers, an outdoor wooden swing, & a crystal blue pool. Move-in ready!

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12806 W Maya Way Peoria, AZ 85383

$645,000

2 Beds

2.5 Baths

2,454 SqFt

Status Active

MLS # 6707399

Property Type Single Family Residence

Price Type --

Welcome home to this highly sought after gated community, Trilogy at Vistancia. This Active Adult community has is it all, a wide variety of recreational activities, pristine pools, state of the art fitness centers and championship golf course. Relax and enjoy the spacious Accredo model that boasts 2450 square feet with 2 bed, 2.5 bath and 2 separate office/den flex rooms. Includes water softener and reverse osmosis system. Beautiful wood flooring in 1 office. 3 car garage with 3rd being a golf cart garage. Recent updates include full roof replacement and new A/C Units in 2020. Low maintenance front and back yard on auto irrigation timers. Fenced in backyard. This immaculate home has it all. Experience paradise in this beautiful home nestled within an amazing gated community.

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4106 E Lavender Lane Phoenix, AZ 85044

$645,000

4 Beds

2.5 Baths

2,418 SqFt

Status Active

MLS # 6697243

Property Type Single Family Residence

Price Type --

Beautiful home with new master bathroom luxury vinyl flooring just installed . New inside paint 2024. 4 bedroom, 2.5 bath plus a den. 18 inch tile. Living and family rooms with a separate formal dining area. Kitchen with raised-panel cabinetry opens up to the family room and a brick fireplace. Large laundry room with cabinets and pantry. Vaulted ceilings, upgraded light fixtures and ceiling fans throughout. Large secondary bedrooms. Wired for security system. Garage has cabinets and work bench plus pull down attic stairs with fully floored attic for more storage. Huge cul-de-sac lot with synthetic turf, pavers, ramada sitting area, big covered patio and RV gate. Great Mountain Park Ranch location with parks and 3 community pools - one within walking distance!

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18226 W Desert Willow Drive Goodyear, AZ 85338

$645,000

3 Beds

2 Baths

2,672 SqFt

Status Active

MLS # 6717463

Property Type Single Family Residence

Price Type --

Wonderful property on a desirable cul-de-sac lot w/a lovely courtyard is the one! Welcoming foyer opens to the great room featuring neutral tile flooring, plantation shutters, surround sound speakers, & archways. The formal dining room stands ready to host intimate dinners or grand feasts! Impeccable kitchen boasts white cabinets w/crown moulding, SS appliances, granite counters, pendant lights, a walk-in pantry, a built-in desk, & a large island w/a breakfast bar. Don't miss the bonus room that can transform into an office! The main suite showcases a bay window, backyard access, & an immaculate ensuite w/dual sinks & a walk-in closet. Serene backyard has a pristine NEW pool, a relaxing covered patio, & stunning mountain views

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15550 N Frank Lloyd Wright Boulevard Unit 1009 Scottsdale, AZ 85260

$645,000

3 Beds

2.5 Baths

1,656 SqFt

Status Active

MLS # 6726509

Property Type Single Family Residence

Price Type --

One of the kind with tons of upgrades done just recently. Brand new flooring with water proof laminate, brand new kitchen with quartz countertops, LG appliances, newer AC unit only 3 years old, brand new windows in entire house just installed, one year old water heater, newer water softener and water osmosis, equipment. Not to mention prime Scottsdale location just east of Loop 101 on Frank Lloyd Blvd . Phoenix Open, Barret Jackson and TONS of shopping/dining at Kierland Commons/Scottsdale Quarter just down the street. Don't miss this opportunity this place offer to you.

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7502 E Pierce Street Scottsdale, AZ 85257

$645,000

3 Beds

2 Baths

1,400 SqFt

Status Active

MLS # 6690858

Property Type Single Family Residence

Price Type --

Charming three-bedroom, two-bathroom timeless home boasting a family room and bonus room, all within a neighborhood free from HOA restrictions. Open floor plan that feels both airy and cozy. The backyard features an oversized covered patio and multiple seating areas, surrounding a beautiful pool bordered by pavers and a white smooth stucco wall, offering a coveted resort-like feel. Inside, the freshly painted interior adds a touch of freshness and modernity to the home. All furniture is available for purchase on a separate bill of sale, offering the opportunity for a turnkey experience. Additionally, the home's proximity to the Scottsdale Greenbelt, a 12-mile walking and bicycle path, provides endless opportunities for outdoor recreation and exploration. Whether used as a primary residence or as a furnished Airbnb/VRBO, this home offers the perfect blend of comfort, convenience, and resort-style living.

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5993 W Aurora Drive Glendale, AZ 85308

$645,000

4 Beds

3 Baths

2,818 SqFt

Status Active

MLS # 6648168

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to your dream home, designed with elegance and style! The moment you step inside, a refreshing neutral color paint scheme greets you, enhanced by the beautiful natural light streaming through the windows. The primary bedroom impresses with a generously sized walk-in closet perfect for all your storage needs. Moving on to the primary bathroom, luxury awaits with a separate soaking tub and shower and double sinks adding convenience and a spa-like feel. For budding chefs or those who to entertain, the kitchen is a delight with its all stainless steel appliances, captivating accent backsplash, and a spacious for keeping your ingredients organized. Not to forget, the convenient kitchen island and center island offer extra space

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9010 W Redbird Road Peoria, AZ 85383

Open House

$645,000

5 Beds

5 Baths

3,455 SqFt

Status Active

MLS # 6745640

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning 5-bedroom, 5-bathroom residence offers the perfect blend of luxury and functionality. The spacious floor plan is ideal for multigenerational living, featuring the primary bedroom and an additional bedroom and bathroom on the main floor. Upstairs, you'll find three more generously sized bedrooms, 3 full bathrooms, along with a versatile game room perfect for entertaining. Step outside to your private oasis, complete with a sparkling pool, ideal for those warm summer days. The 3-car garage provides ample space for vehicles and storage. This home truly has it all—don't miss the chance to make it yours!

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4155 E Blue Spruce Lane Gilbert, AZ 85298

Open House

$645,000

3 Beds

3 Baths

2,551 SqFt

Status Active

MLS # 6702366

Property Type Single Family Residence

Price Type --

Welcome to Trilogy at Power Ranch where this sought after Cimarron floor plan awaits the next owner's personal touch to make it their own! This home has 3 bedrooms and 3 full bathrooms, with brand-new stainless-steel appliances and New upgraded carpet throughout. Both HVAC systems replaced in 2020. There is a formal dining room, breakfast bar as well as a dining area off the family room. The kitchen is like no other w/plenty of cabinet space, wall pantry, an island with extra prep sink, the main island has space for 5-6 bar stools and a view into the private courtyard. The Primary bedroom suite is truly spacious w/separate exit to back patio, 2 large walk in closets and a bonus area with extra cabinets. The split vanity primary bathroom features executive height cultured marble counters, a separate walk-in shower and jetted soaker tub other guestrooms include one with an ensuite bathroom, the other is Jack & Jill style opening to the kitchen / bedroom and features a walk in tub w/safety grab bars. The laundry room has cabinets and a sink, and opens to the 3 car tandem garage with extra storage shelves and plenty of room for a workshop or hobby area. The front and back yards are low maintenance with shrubs/trees/ and rose bushes all on drip irrigation. The back yard features a large covered patio with views of the San Tan mountains and no one behind. Enjoy all this gated Trilogy Community has to offer - pools, sport courts, walking paths and a beautiful clubhouse and of course the golf course! This home has been well maintained and cared for, is it your next home sweet home?

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6565 E Thomas Road Unit 1126 Scottsdale, AZ 85251

Open House

$645,000

3 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6740313

Property Type Townhouse

Price Type --

Location, Lifestyle & Luxurious Living in Scottsdale AZ! This is a pristine, urban condo with rare 2 car attached garage. This 3 bedroom, 2 bath townhome offers a spacious kitchen - open concept - dining and great room. Large primary bedroom with an en suite, with dual sinks, separate shower, luxurious bath and large walk-in closet. The additional bedrooms are privately split from the primary bedroom. Enjoy Arizona sunrises from your private balcony. Diamante's gated community offers two resort style pools and plenty of gas grills; perfect for entertaining. Just minutes away from Old Town Scottsdale, Arcadia, and Phoenix Sky Harbor airport, this location can't be beat!

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