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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2093 E Rawhide Street Gilbert, AZ 85296

New

$629,990

3 Beds

2 Baths

2,315 SqFt

Status Active

MLS # 6759290

Property Type Single Family Residence

Price Type --

Located in the heart of Gilbert, this stunning home boasts exceptional curb appeal and modern upgrades throughout. As you enter, you'll be greeted by vaulted ceilings, upgraded lighting, and a meticulously maintained interior. The modern kitchen features white cabinets with two-toned paint, quartz countertops, open shelving, and a spacious walk-in pantry with steel-reinforced shelving. It also includes a coffee bar area, single basin sink, and stainless steel appliances that are only two years old. The living room is a bright, cozy space with a wood-burning fireplace, pristine carpets, and plenty of natural light. The primary suite offers soaring ceilings, its own exit to the backyard, and a luxurious en-suite bathroom that has been recently remodeled and is complete with a floating vanity, under cabinets lighting, dual sinks, upgraded lighting and mirrors, and a super shower with dual rainfall showerheads. The additional bedrooms are spacious, and the den features a unique artistic archway leading to the front room. Outside, the backyard is a peaceful retreat with real grass, lush landscaping, and a pergola with paversperfect for relaxing or entertaining. This home also includes a new water softener, ceiling fans in the bedrooms, and an inviting outdoor space that truly completes the home. Perfectly blending modern style with comfort, this home offers an unbeatable lifestyle in a prime Gilbert location.

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6061 S Oxley -- Mesa, AZ 85212

$629,990

4 Beds

3 Baths

2,071 SqFt

Status Active

MLS # 6719560

Property Type Single Family Residence

Price Type --

''Have you ever walked through a model home and wished you could buy it exactly as is? Well, here is your chance, our stunning Aster MODEL HOME is now available for your purchase! Imagine yourself living in a beautiful, sun-kissed retreat, where every detail has been carefully crafted to create a warm and inviting atmosphere. Our stunning model home is a true masterpiece, boasting 2071 square feet of luxurious living space. As you step inside, you'll be greeted by the warmth of rich tile flooring, perfectly complemented by the plush carpet in the bedrooms and den. The elegant 42'''' white shaker cabinets with matte black hardware add a touch of sophistication, while the expansive windows allow natural light to pour in and illuminate the space. With its sleek panel center slide and breathtaking views, this outdoor oasis is the perfect spot to relax and unwind. This home is also situated on a perfect lot location facing the greenbelt to soak in all the stunning Arizona sunsets! d. This incredible home includes all the upgrades you've been dreaming of, including a washer, dryer, and a refrigerator! It's truly move-in ready! Don't miss out on this rare opportunity to own a piece of paradise.

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4112 W Estes Way Laveen, AZ 85339

$629,990

4 Beds

3 Baths

2,835 SqFt

Status Active

MLS # 6741713

Property Type Single Family Residence

Price Type --

PHOTOS ARE OF MODEL HOME! Find all the room you need in this thoughtful home design. To one side of the foyer is a game room with a secondary bedroom on either side plus a secondary bathroom. The owner's suite is spacious and features two walk-in closets and a spa-inspired bathroom with access the laundry room. There is also an additional secondary bedroom and bathroom down the hall from the owner's suite. The heart of the home is an open living area that brings the kitchen, dining room and Great Room together effortlessly, plus it extends to the covered patio. Our beautiful Aurora plan boasts luxury Chef Platinum features such as quartz counter tops , Sonoma Maple Linen (White) cabinets, and 8 x 36 tile flooring. A copy of the public report is available on the ADRE's website

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9772 W Los Gatos Drive Peoria, AZ 85383

$629,945

4 Beds

3 Baths

2,364 SqFt

Status Active

MLS # 6744519

Property Type Single Family Residence

Price Type --

A fantastic 4 bed, 3 bath residence in The Meadows is now for sale! Featuring great curb appeal, an easy-care landscape, 2 car garage, and a paver driveway. Discover an open floor plan w/elegant wood-look flooring and neutral palette throughout. The fabulous kitchen is equipped w/everything you'll need for home cooking, espresso cabinetry w/crown moulding, granite counters, pendant lighting, mosaic tile backsplash, stainless steel appliances, and an island complete w/a breakfast bar. You'll love the primary bedroom, boasting soft carpet, a walk-in closet, and a lavish ensuite w/dual sinks. Double doors open up to a cozy den, ideal for an office or reading nook. Also including a lovely backyard w/a covered patio and artificial turf, this home is a true gem! Don't miss out! AC & Htr -2024

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2006 Camino Rancho -- Sierra Vista, AZ 85635

$629,900

6 Beds

3 Baths

2,442 SqFt

Status Active

MLS # 6732433

Property Type Single Family Residence

Price Type --

Country Living in the Heart of Town! Experience the perfect blend of rural charm and urban convenience with this stunning property in Sierra Vista. This beautiful estate features a private-powered gate onto the property. The Main House is a 4-bedroom, 2-bathroom, and 2 ½ Car Garage, and the Guest House features 2 bedrooms and 1 Full Bath bath. The Main House Features a large formal entryway leading to the open great room, complete with a cozy fireplace, which seamlessly flows into the spacious kitchen, which boasts a large island ideal for cooking and entertaining and has a Large Dining Area. The expansive air-conditioned Arizona room is beautifully tiled and perfect for various uses. Enjoy a split floor plan with a large primary suite, including a spacious walk-in closet, dual sinks, and a walk-in shower in the primary bath. The oversized two-and-a-half-car garage includes a workshop area with built-in cabinets. The Backyard is Park-like with Beautiful Grass and Mountain Views. The Guest House offers 2 bedrooms, 1 bathroom, a living room, and a full kitchen. It also includes a washer and dryer, providing full independence for guests or tenants. This property is Nestled in a county enclave and offers beautiful views and a sense of tranquility while still being close to town amenities. This unique property is a must-see for anyone looking for a serene living space with modern conveniences. Don't miss out on this incredible opportunity!

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2734 W Montgomery Drive Chandler, AZ 85224

$629,900

4 Beds

2 Baths

2,009 SqFt

Status Active

MLS # 6756991

Property Type Single Family Residence

Price Type --

Come and see this freshly remodeled stunning home in Chandler. This 4 bed 2 bath 2 Car Garage home is move in ready!! Located just off the 101 and Warner you are just minutes away from the Chandler Mall with all the shopping and great restaurants. Home is located in the A rated Chandler School District. As you pull up to this stunning gem you will notice the freshly painted exterior and low maintenance front yard. Though the front door your welcomed by brand new luxury vinyl plank flooring in the main living areas and plush patterned carpet in the bedrooms. The soaring ceilings continue around the corner off the front room and into your brand new stunning kitchen. This fully remodeled kitchen boasts new white shaker cabinets, white quartz countertops, brand new stainless steel appliances and upgraded lighting. Just off the kitchen is the massive pantry / laundry room with custom shelves, mud room bench, white cabinets and butcher block top. Split floor plan has the Master suite off of the front room and it is GORGEOUS. Vaulted ceilings, dual vanity sink, large walk in closet and brand new custom tiled shower. Brand new windows and window coverings throughout the home. New water heater. New ceiling fans, door hardware, light and plumbing fixtures give this home a modern feel. Out back there is a large gazebo with fire pit perfect for entertaining that conveys. Don't miss out on this gem. Come and see it today!!

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4800 W Braided Rein -- Flagstaff, AZ 86005

$629,900

3 Beds

2 Baths

1,811 SqFt

Status Active Under Contract

MLS # 6756478

Property Type Townhouse

Price Type --

Welcome to Flagstaff Ranch located in the elevated cool pines of Northern Arizona. Experience all 4 seasons & all that Flagstaff offers. Flagstaff Ranch offers golf, community pool/spa with Clubhouse, tennis/pickleball and numerous trails to explore. This 3/2 single level condo with no interior steps was built in 2021 and has been lightly lived in. End unit boasts large windows making this home bright and inviting. Upgraded finishes and an open floorplan. Open kitchen with rich cabinetry and granite. The generous primary suite is serene and comfortable. Ensuite bath with dual vanities and a soaker tub. Large walk-in closet. Storage galore and an attached 2 car garage. The covered patios encourage lounging over morning coffee as well as a beverage at the end of a fun filled day.

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8673 N Killdeer Place Casa Grande, AZ 85194

$629,900

3 Beds

2 Baths

2,591 SqFt

Status Active

MLS # 6755318

Property Type Single Family Residence

Price Type --

Not your ordinary horse ranch! Beautiful custom home on 4.9 ACRES! 3 large bedrooms include a huge separate primary bedroom & ensuite bath; 2 more guest bedrooms and full guest bath. Two living spaces, a living room with natural fireplace and a family room! Also bonus room for a home office! Large lap pool for those hot summer days and 4 garages for all your cars and toys! Got horses? Bring 'em on down! 6 paddocks; fenced arena and tack room and many wide open spaces to ride!. Enjoy the gorgeous mountain views from all directions and the colorful sunsets from your 2 back patios. Best of all, you still have over 2 acres of unused land for whatever your future needs hold! Country living with the convenience of nearby shopping, and easy highway access. There isn't another property like this!

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3714 E Vaughn Avenue Gilbert, AZ 85234

$629,900

4 Beds

2 Baths

2,417 SqFt

Status Active

MLS # 6738932

Property Type Single Family Residence

Price Type --

Escape to your own retreat in Gilbert, Arizona, where a backyard haven offers a blend of luxury and tranquility. The split ranch floor plan offers an ideal layout for privacy and open living, perfect for families and entertaining. The kitchen features high-end stainless steel appliances, granite countertops, and a central island, seamlessly connecting to the spacious living and dining areas. The master suite is a private retreat with a walk-in closet and an ensuite bathroom featuring dual sinks, a soaking tub, and a separate shower. Three additional bedrooms share a well-appointed bathroom. Step outside to enjoy the backyard oasis, complete with a sparkling pool, heated spa, and a view fence overlooking a peaceful wash. The property also includes an RV gate, providing convenient storage.

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7102 W Windrose Drive Peoria, AZ 85381

$629,900

5 Beds

3 Baths

3,532 SqFt

Status Active

MLS # 6721103

Property Type Single Family Residence

Price Type --

PRICE REDUCED! Welcome to this modern 3532 sq ft home nestled on a large corner lot with an RV GATE offering 5 bedrooms & 3 full-sized bathrooms, including a secondary owner's suite in the basement. The main level features 3 bedrooms, including the master bedroom upstairs with spacious walk-in closets. REMODELED bathrooms and convenient laundry chute enhance the comfort, versatility, & functionality of the home. Natural light shines through plantation shutters, creating a bright atmosphere in every room. The basement adds 2 additional bedrooms, a WET BAR, & a full-sized bathroom to be used as a guest room or for entertaining extended family members. Outside, the backyard is a serene retreat with mature greenery providing privacy & a perfect backdrop for relaxation or outdoor activities!

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7602 E Thomas Road Scottsdale, AZ 85251

$629,900

3 Beds

2 Baths

1,628 SqFt

Status Active

MLS # 6728718

Property Type Single Family Residence

Price Type --

Fully Remodeled, Move in ready, centrally located. Come see this Charming home, New Roofing, New Laminated Flooring, New Light Fixtures, New Texture, New Doors, New Kitchen Cabinets with Granite Counter Tops, New Bathroom Tiled Showers. New Windows. Agents Bring your buyers they will not be disappointed.

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10103 E Plata Avenue Mesa, AZ 85212

$629,900

4 Beds

3 Baths

2,146 SqFt

Status Active

MLS # 6752877

Property Type Single Family Residence

Price Type --

Seller will help pay Buyers Closing Cost/Rate Buy Down w/Right Offer! Beautifully Remodeled Home in the HIGHLY DESIRED Santa Rita Ranch Community. Complete Remodel includes NEW CABINETS, Fixtures, Flooring throughout,Quartz Counters, Paint, HVAC (2019). No Expense Spared. This charming home has 4 OVERSIZED Bedrooms, and 3 FULLY REMODELED baths. LOW maintenance TURF in both front and back yards. The backyard boasts a HUGE covered patio for entertaining along with a FULLY featured PEBBLETEC POOL with large GREENBELT backing the home for an airy and private experience. This home is centrally located near valley freeways, award winning Shopping/Restaurants and GILBERT Schools. This home WILL EXCEED all your expectations.

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