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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3212 E Bluebird Place Chandler, AZ 85286

$629,900

3 Beds

2 Baths

2,149 SqFt

Status Active

MLS # 6735393

Property Type Single Family Residence

Price Type --

Check out this beautiful home located in Peterson Farms in Chandler. This home offers 3 bedrooms, 2 bathrooms, an Office/Den and a 3 car garage. Large open kitchen, granite countertop, walk-in pantry, and refrigerator. The main bathroom has separate shower and tub plus dual sinks. This home is in great condition and had a new AC system installed in 2023. Enjoy the backyard with a view of the green belt. This home is close to everything, 202, 101, shopping, movie theatre, and dining.

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1206 W 10th Street Tempe, AZ 85281

$629,900

4 Beds

2 Baths

1,703 SqFt

Status Active Under Contract

MLS # 6735197

Property Type Single Family Residence

Price Type --

Stunning modern 4-bed, 2-bath home on a spacious corner lot in Tempe, 1 mile from ASU and Downtown. This beautifully updated property features a resort-style pool, perfect for relaxing or entertaining, two separate RV gates for extra storage, detached 2-car garage and the freedom of no HOA. Ideal for those seeking luxury and accessibility, and Airbnb rental potential, this home offers ample space and contemporary comforts in a prime location. New Pool 2021 and July 2024 Brand new TRANE AC unit with warranty. Don't miss out on this exceptional opportunity!

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6738 E Coronado Road Scottsdale, AZ 85257

$629,900

3 Beds

2 Baths

1,619 SqFt

Status Active

MLS # 6707155

Property Type Single Family Residence

Price Type --

Must see this warm, welcoming home in Historic Village Grove, with no HOA! Plantation shutters & high ceilings give a warm, airy atmosphere. Family room offers easy access to the backyard, perfect for entertaining. Charming kitchen featuring oak wood cabinets, stainless steel appliances, a breakfast bar, and granite countertops. Main bedroom is open and bright. Fresh paint inside and out! Perfectly sized backyard with relaxing covered patio and refreshing diving pool. Mature shade trees out front, in desired neighborhood. Many nearby attractions: Desert Botanical Gardens, Papago Mountain, Phoenix Zoo, Spring Training, Fashion Square Mall, incredible golf courses, 5-star restaurants, parks, walking paths, hiking trails, and only 2.5 miles from Old Town Scottsdale's nightlife!

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20417 W Bradley Road Wittmann, AZ 85361

$629,900

4 Beds

2 Baths

2,191 SqFt

Status Active

MLS # 6721052

Property Type Single Family Residence

Price Type --

Beautiful home in West Bradley Road, Wittmann, Arizona.

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15029 W Minnezona Avenue Goodyear, AZ 85395

$629,500

4 Beds

2.5 Baths

3,368 SqFt

Status Active

MLS # 6755950

Property Type Single Family Residence

Price Type --

WOW. FULLY paid off and OWNED SOLAR and solar heated pool! HUGE SAVINGS! This LUXURY retreat home features countless upgrades: highly upgraded engineering wood flooring, mini-split A/C units in the garage, a Tesla charging station, and custom finishes at every turn!!! This exceptional home greets you with lush desert landscaping, creating a serene and inviting entrance. Once inside, you're welcomed by soaring ceilings that open up the space and create a bright, airy atmosphere. The seamless flow between the expansive living and family rooms is perfect for gatherings and entertaining, offering plenty of space for relaxation. The heart of the home is the chef's kitchen, designed to impress with granite countertops, a large center island, a convenient breakfast bar, and sleek black stainless sleek black stainless steel appliances. The 42'' cherry cabinets add a touch of elegance and provide ample storage. The first-floor master suite is a luxurious retreat, featuring real wood flooring that adds warmth and character. The remodeled bathroom boasts an oversized shower, creating a spa-like experience. Backyard is a true OASIS!! Outdoor living is equally impressive, highlighted by a grand 8'x6' stone fireplace, perfect for cozy evenings under the stars. Whether hosting or relaxing, this home offers both style and practicality for modern living. The 3 car garage is super spacious, every owner's dream!! This home is a MUST SEE!!

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11225 E Ocaso Avenue Mesa, AZ 85212

$629,500

3 Beds

2 Baths

1,910 SqFt

Status Active

MLS # 6727396

Property Type Single Family Residence

Price Type --

A must see, beautiful 2 bed, 2 bath residence with a den in Sunland Springs Village. Great curb appeal complete with front patio to enjoy the sunsets, artificial turf, and a 2.5 car garage with built-in cabinets. The home has a warm and inviting great room paired with large dining areas, tall ceilings, tile floorings, and lots of natural light. You'll love the gourmet kitchen boasting stainless steel appliances, granite counters, staggered modern white cabinets, a pantry, recessed lighting, and an island with a breakfast bar. Spacious primary bedroom has an ensuite with dual sinks & a walk-in closet. Spare bedroom with double-door entry can be used an office as well. Cozy backyard offering a covered patio with extended pavers ready for you to enjoy and entertain.

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15221 N Clubgate Drive Unit 1031 Scottsdale, AZ 85254

$629,500

2 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6676920

Property Type Apartment

Price Type --

This meticulously designed 2-bedroom condo in Kierland Greens offers a blend of elegance and comfort, from the captivating wood-like tiled floors to the luxurious primary suite. The unit was just recently painted inside, with new light fixtures as well as new carpet in the bedrooms. This bottom floor corner unit epitomizes luxury living with its attention to detail and sophisticated design elements, making it a desirable space for relaxation and entertaining. The convenient location offers access to a plethora of dining and shopping options, situated near the Kierland Golf Club, Kierland Commons, and Scottsdale Quarter, making it an ideal choice for those seeking a vibrant and dynamic lifestyle.

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10218 S Bickwell Trail Apache Junction, AZ 85120

$629,376

5 Beds

4 Baths

3,099 SqFt

Status Active

MLS # 6748871

Property Type Single Family Residence

Price Type --

Discover the exceptional difference in your home-buying experience! Welcome to Laurel at Blossom Rock, where our 2-story Ponderosa design is under construction now. Imagine an open-concept floor plan featuring a warm and welcoming kitchen that flows into a bright, airy great room. This space opens up to your private, covered outdoor room - perfect for relaxing or entertaining. Convenience of the 2-car garage that leads directly into the drop zone, making organization a breeze. With 5 spacious bedrooms including Multi-Gen Suite, 4 luxurious baths, a great room with a dining area, and a flexible office space, this home has everything! Plus, we're including $58,000 in stunning upgrades to make this home truly special, and we're offering special financing to help!

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3267 Huckleberry Way Wickenburg, AZ 85390

New

$629,000

2 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6759265

Property Type Single Family Residence

Price Type --

Magnificent view of 13th Green on the Championship Course! Step thru the front door into this highly upgraded Beacon Floor Plan. From tile throughout the home to the stunning kitchen granite counters this home has everything. SS appliances, large center island, pull out shelving for the soft close cabinet doors, elegant pendant lights for entertaining guests. Primary w/same granite counters, dual sinks & Walk-in closet. Great room with multi-sliding glass door leads you out to the amazing extended patio and views. This floor plan comes with a separate Den and Guest Suite w/Hall Bathroom. Stop by today to make this once in a lifetime your next home!

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2401 W Cheery Lynn Road Phoenix, AZ 85015

$629,000

3 Beds

2 Baths

2,388 SqFt

Status Active

MLS # 6750173

Property Type Single Family Residence

Price Type --

Welcome to a diamond in Central Phoenix. Rare, expansive square footage in this area of Phoenix at 2388 sf, in this classic 3 bd 2 ba beauty. New AC Unit, hot water heater and kitchen appliances and tastefully updated throughout the home. Let your imagination run wild with this oversized over 13,000 sf corner lot that has been enclosed with privacy Ficus trees to start the creation of your backyard oasis. Close to great midtown dining and shopping and freeway accessibility. You won't want to miss this one of a kind property.

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17656 E Chevelon Canyon Circle Rio Verde, AZ 85263

$629,000

2 Beds

2 Baths

1,343 SqFt

Status Active

MLS # 6748886

Property Type Townhouse

Price Type --

Come join the resort lifestyle living of Trilogy at Verde River in this upgraded Muros plan home! This two bed/2bath/2 car garage boasts an easy flowing and open floor plan for amazing indoor /outdoor living. Nestled on a quiet cul-de-sac street with stunning back yard views of the Mazatzal Mountain range of Tonto National Forest. A wide open desert arroyo with sounds of native song birds, provides even more back yard privacy. Enjoy this Trilogy community lifestyle complete with beach entry resort pool , separate lap pool, private adult hot tub area, Eddies bar by the pool, Alvea an onsite full service spa, Needle Rock Kitchen and Tap, offering delicious entrees and views to wow and so much more! check out online, Trilogy at Verde River to discover more good reasons to live here!

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24686 N 175th Avenue Surprise, AZ 85387

New

$629,000

3 Beds

3 Baths

2,192 SqFt

Status Active

MLS # 6759841

Property Type Single Family Residence

Price Type --

Discover your dream home—better than new and meticulously upgraded with $125,000 in enhancements! Enjoy the luxury of a move-in-ready space, sparing you the time and stress of renovations. The open-concept design offers seamless flow, ideal for entertaining or family gatherings. The modern gourmet kitchen, featuring a gas cooktop and large island, is perfect for culinary adventures. Step outside to your backyard oasis, complete with a sparkling pool, cozy firepit area, and stylish pergola—all elegantly finished with travertine tile. With every detail already addressed, you can focus on making memories instead of managing projects. This turnkey property allows you to start living your dream lifestyle immediately.

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