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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5971 W Venus Way Chandler, AZ 85226

$634,900

4 Beds

2.5 Baths

2,018 SqFt

Status Active

MLS # 6733382

Property Type Single Family Residence

Price Type --

This beautiful home was just updated! Please see upgrades in documents. Location, location, location offers easy access to all the freeways, shopping & restaurants, in the desirable Chandler area. This home offers a wonderful layout with 4 bedrooms and 21/2 baths, making it ideal for comfort and privacy. Embrace the opportunity to a move-in ready home with a great location, easy maintenance landscape, and a sparkeling diving pool. Don't miss this home!!

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8562 E Pierce Street Scottsdale, AZ 85257

$634,900

3 Beds

2 Baths

1,819 SqFt

Status Active

MLS # 6759079

Property Type Single Family Residence

Price Type --

Spectacularly remodeled 3 bdrm & 2 bath home on LARGE cul-de-sac lot w/ 2-car garage, a low maintenance yard, large covered patio, new pavers, & a concrete slab wired for hot tub (is it?). Open floor plan w/ spacious vaulted ceilings. New, matching cabinets & matching quartz counters throughout the home including a HUGE kitchen island & the perfect peninsula. All new windows. Brand new SS appliances incl. fridge, dishwasher, & drawer microwave convey. New modern tile floors throughout (no carpet). Both showers are newly tiled w/large glass enclosure in master. All new fixtures + ceiling fans w/remotes! Fresh paint in/out. OWNER/AGENT.

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7177 W Pontiac Drive Glendale, AZ 85308

$634,900

4 Beds

3 Baths

2,146 SqFt

Status Active

MLS # 6742966

Property Type Single Family Residence

Price Type --

Welcome to your Stunning Home in the HIGHLY desirable lake community of Sierra Verde in Arrowhead Ranch! With over $100k in upgrades, this newly remodeled 4-bed, 3-bath beauty offers a perfect blend of luxury and comfort. The home features wood-like tile flooring, 6-inch baseboards, vaulted ceilings, and neutral two-tone paint throughout. Enjoy a formal living and dining room, a gourmet kitchen with granite counters, tile backsplash, stainless steel appliances, and a convenient coffee bar. All bathrooms have been upgraded with travertine tile floors & showers with granite counters, and custom finishes. The second floor boasts engineered wood flooring and designer walk-in closets. Step outside to your private, oversized grassy yard, perfect for entertaining! The epoxy-coated garage includes built-in cabinets, a workbench, and a new smart garage door opener. Recent upgrades also include exterior paint in 2023 and a water heater replacement, plus the refrigerator, washer, and dryer are included for your convenience. The community offers ample walking and biking paths, parks, and gorgeous lake views, while A+ Sierra Verde School is just a short walk away. Enjoy easy access to Thunderbird Conservation Park, Arrowhead Mall, P-83 shopping, dining, entertainment, and freeways for effortless commuting. With so many upgrades and a prime location, this home is an absolute must-see! Don't miss your chance to make it yours!

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5114 E Dover Street Mesa, AZ 85205

$634,800

4 Beds

3 Baths

2,364 SqFt

Status Active

MLS # 6736033

Property Type Single Family Residence

Price Type --

WOW! Gorgeous remodeled home in quiet Northeast Mesa neighborhood with NO HOA and with all the upgrades you want! A/C new in 2022, roof new in 2020, and all 3 bathrooms and the kitchen beautifully remodeled. Popular floorplan with 4 bedrooms and 3 baths, included a bedroom and bath downstairs, and soaring vaulted ceilings. Resort-style backyard with a stunning fiberglass-coated salt diving pool, huge covered patio and AZ Room, and two storage sheds. Upgrades include a 3 car garage, gas fireplace, stainless steel appliances, granite countertops, upgraded closet hardware, refrigerator new in 2024, upstairs carpet new in 2022, upgraded attic insulation, brand-new interior and exterior paint, and lots more! This is the home you've been waiting for!

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18238 E Coronado Cave Court Rio Verde, AZ 85263

New

$634,783

2 Beds

2 Baths

1,678 SqFt

Status Active

MLS # 6759503

Property Type Single Family Residence

Price Type --

Welcome to this beautiful home in the Resort Collection at Trilogy at Verde River. The Valletta offers a well thought-out layout with 2 bedrooms, 2 bathrooms, and an office. Enjoy upgraded flooring in main areas, upgraded landscape package with pavers and an upgraded outdoor pergola. The kitchen is stunning with White Arctic Shaker Painted Cabinets, Upgraded Rollout and Soft- Close Drawers in the Kitchen, and a spacious kitchen island with a breakfast bar. The great room boasts a 12 foot multi-slide door that open to the covered patio. The primary suite has a lavish ensuite with a huge tiled shower and walk-in closet. Do not miss out on this home The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

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20587 E Via De Colina -- Queen Creek, AZ 85142

$634,501

3 Beds

2 Baths

2,166 SqFt

Status Active

MLS # 6603845

Property Type Single Family Residence

Price Type --

MLS#6603845 Ready Now! The Windsor floor plan in the Ellsworth Ranch Landmark Collection blends down-home warmth with elegance and style. This single-story design is an incredible family home with 3 bedrooms, 2 bathrooms, a study, attached 2-car garage, and 2,166 square feet of living space. Walk through the front door and you're greeted by the study along with 2 guest bedrooms and a shared full bathroom. At the end of the foyer, the gathering room, kitchen with island, and dining area seamlessly connect - perfect for entertaining family and friends! Relax and unwind in the owner's suite and bath that is tucked in the back for privacy featuring a soaking tub, separate shower, dual vanities, and large walk-in closet. Down the long hallway from the owner's suite is the secluded game room - ideal for family fun nights! Design upgrades to highlight include: flooring, lighting, cabinets, and more! Structural options include: Gourmet kitchen, and garage service door.

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710 W 18th Street Tempe, AZ 85281

$634,500

3 Beds

2 Baths

1,792 SqFt

Status Active

MLS # 6743870

Property Type Single Family Residence

Price Type --

1-0 BUY DOWN AVAILABLE WITH THE PREFERRED LENDER! This charming 3-bedroom, 2-bath home is nestled with a gated courtyard, you'll immediately appreciate the serene grass area and shaded patio. The inviting family room seamlessly connects to the entertainer's kitchen, which features a farmhouse sink, stainless steel appliances, and more than ample storage. The warm-toned granite countertops offer generous space, including a breakfast bar and a versatile bar/desk area. The primary bedroom boasting a stylish en suite bath, complete with a spacious walk-in shower and walk-in closet. You'll love the additional storage options, including a hall room for pantry items or a spare refrigerator, a large laundry area with a folding counter and drawer storage, and a dedicated cabinet filled pet/craft/ sport equipment space. The rear bonus room provides flexibility...it could serve as a living, dining, or media room and opens directly to the backyard. Enjoy outdoor living on the expansive rear patio featuring a gazebo, synthetic grass, and a firepit. Plus, the property includes an expansive covered RV parking area, large sturdy sheds, and a garage workshop for all your storage or creative needs. This home truly offers both comfort and functionality! Plus, Clark Park is right next door and is a fantastic place with a wide range of amenities! Here's a quick overview of what you can enjoy there: Community Center: Great for classes, events, and community gatherings. Pool & Splashpad: Perfect for cooling off and having fun in the water. Basketball Courts: Ideal for pickup games or practice. Baseball Diamond: A spot for baseball games and activities. Dog Park: A dedicated space for your furry friends to play. Grills: For BBQs and outdoor cooking. Horseshoes Pit: A fun game for social gatherings. Ramadas: Shaded areas for picnics and parties. Volleyball Court: A place for beach-style volleyball games. Community Garden: A spot to grow plants and vegetables. Playground: A great area for kids to play and explore. It seems like Clark Park has something for everyone, whether you're looking to stay active, relax, or enjoy time with family and friends. Bus and light rail access is nearby - perfect for high school and college student/faculty commuting!

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1425 E Bobcat Circle Munds Park/pinew, AZ 86017

$633,900

3 Beds

2 Baths

1,708 SqFt

Status Active

MLS # 6726239

Property Type Single Family Residence

Price Type --

Motivated Seller! Three bedrooms, 2 bath, Chalet on heavily treed lot, Cul-de-sac Street, in desirable Animal Hill area and STEPS to the national forest! Enjoy beautiful panoramic views and the tranquility of this quiet street on the large deck that wraps around to the back fenced in yard. Kitchen and bathrooms have been updated (2023) as well as fixtures, lighting and showers. Ceiling fans, skylights, quartz countertops, wood fireplace, stainless appliances, pantry and walk-in closets are just a few of the features that make this home a beauty! Very large master suite and the entire layout provides plenty of living space in all the right places for your family and guests. 1 car garage and extra-large storage/workshop area next to the garage. Don't miss this rare opportunity to own a Chalet that sits on the upper end of Animal Hill! You will be walking distance to the well-known Pinewood Country Club and steps to the national forest! Very close to the lake, hiking/ biking trails, tennis and pickleball courts, park, restaurants, convenient store, and more! No HOA Munds Park is only 17 miles South of Flagstaff and a 2-hour drive from Phoenix to escape the heat! Come see your new home in our neck of the woods!

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18398 W Sandlewood Drive Goodyear, AZ 85338

$633,499

5 Beds

3 Baths

2,770 SqFt

Status Active

MLS # 6737639

Property Type Single Family Residence

Price Type --

2022 Built! Beautiful 5 beds,3 baths,3-car garage in the prestigious Estrella Mountain Ranch community. Custom remote operated Zebra blinds throughout including the garage. Chef's kitchen boasts granite countertops, subway tile backsplash, Gas cooktop, Hood for ventilation ,a Huge walk-in pantry, custom 42 inch cabinets, extra large kitchen island w/breakfast bar, single bowl stainless steel sink, and a separate dine in area. Master bedroom includes separate his/her vanities, with upgraded walk in shower, Large Bathtub & a walk-in closet. Teen room is perfect for relaxing. Garage has high end epoxy with lifetime warranty and overhead custom storage built in. Tesla charger included in the single car garage & the 2 car garage has a 220 v outlet to add another one as well. Gas stub In the backyard available to hook up your barbecue grill with no hassle! Owned water softener is a plus! Rain Gutters already installed ! Ring doorbell & security cameras included! Bedroom 2 has custom built in closet made by classy closets! The community features tons of amenities with beautiful mountain & lake views!

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2216 W Chisum Trail Phoenix, AZ 85085

$632,990

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6736406

Property Type Single Family Residence

Price Type --

**This is a to be built listing, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation** Welcome to Ashton Woods at Union Park at Norterra - community blends the timeless charm of historic neighborhoods with the vibrancy of in-town living. Ownership in Union Park includes access to The Post with a family and kid's pool, playgrounds, parks, basketball, pickle ball courts and event lawns. Ashton Woods at Union Park is conveniently located to major employment, the 17 and 101 freeways, and within walking distance to the shopping and entertainment destination, Norterra. The classic downtown feel of this neighborhood is truly one-of-a-kindwhich features outstanding community amenities, convenient access to the 17 freeway and shopping. The open concept Alta plan is the decorated model home and and an entertainer's dream! The highly sought after plan features 3 bedrooms, 2.5 baths and a spacious loft. There is still time to design and personalize your finishes and structural features including a 12' 4-panel sliding glass door, walk in primary shower, bedroom 4 at loft and so much more! This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances with a gas range. Amazing spa like primary suite with dual vanities, separate water closet and ample linen storage. This floorplan features sizable secondary bedrooms, laundry upstairs and comes standard with with 9' ceilings on both floors, front yard landscaping maintained by the HOA, paver driveway, and much more! Energy Star home for remarkable comfort, energy efficiency and environmental sustainability!

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3920 W Summerside Road Laveen, AZ 85339

$632,900

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6710335

Property Type Single Family Residence

Price Type --

BRAND NEW NEXTGEN HOME! Built in 2024 & seated on an oversized lot, this Lennar NexGen home includes an attached suite featuring its own kitchenette, living space, bath, & bedroom. Featuring beautiful wood-look tile flooring, carpeting in bedrooms, custom shutters throughout, & a commercial grade water system. The gourmet kitchen with white cabinetry with pull-out shelving, stainless steel appliances, & massive island, is an entertainer's dream. Relax in the primary suite offering an ensuite bath with his & hers vanity & walk-in shower. The backyard boasts a covered patio with gorgeous plants & trees. Also featured, a 2-car attached garage & 1-car attached garage for the suite. Awesome location near St Rt 202, excellent schools, hiking/biking trails, & more.

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22019 N Pedregosa Drive Sun City West, AZ 85375

New

$632,500

3 Beds

2 Baths

2,143 SqFt

Status Active

MLS # 6760490

Property Type Single Family Residence

Price Type --

Well-appointed TRUE 3 bedroom Encanto w/LG extended garage fits 2-cars & golf cart is a MUST SEE! Be greeted by the beautifully gated courtyard with serene cactus garden before entering into the living area with neutral palate, tile flooring, recessed lighting & surround sound throughout! Enjoy the custom rock wall with glass floating shelves & gas fireplace! The gourmet kitchen showcases staggered wood cabinetry, granite counters, high-end SS appliances, a center island, & sliding barn doors that open to a flex room of your choice! Convert it back to a dinette area or use as an office; options galore! Owner's bath has newly tiled shower/tub & Owner's closet is beautifully custom built! Entertain in LG private patio w/pavers throughout, gas fireplace & built-in grill! Home has it ALL! New HVAC 9/2024! Newly painted pony wall 9/2024! Some furnishings are available on separate bill of sale.

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