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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44449 W Canyon Creek Drive Maricopa, AZ 85139

New

$629,000

5 Beds

3 Baths

3,930 SqFt

Status Active

MLS # 6759318

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the highly desirable Cobblestone subdivision of Maricopa! This stunning 5-bedroom, 3-bathroom residence spans 3,929 sq.ft. of nicely upgraded living space. The modern kitchen boasts sleek stainless steel appliances, beautiful quartz countertops, kitchen island and lots of storage. Upstairs you'll find spacious loft and oversized bedrooms for all the guests or family. Step outside into your expansive backyard oasis, complete with a built-in grill, Blackstone griddle and PIZZA OVEN, with a large SPARKLING HEATED POOL AND SPA —ideal for Arizona's sunny days and cool evenings. With ample space, luxurious features, and a prime location, this home offers everything you need for comfort and style. Don't miss the chance to make this your forever home

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6090 E Molly Drive Hereford, AZ 85615

$629,000

3 Beds

2.5 Baths

2,454 SqFt

Status Active Under Contract

MLS # 6749421

Property Type Single Family Residence

Price Type --

Gorgeous Santa Fe House with breathtaking views from every room in the house!!! Located in the prestigious Wild Horse gated community on 3.5 acres! Custom features make this a home very unique. Current owners have meticulously maintained this home!! Inside you will find custom Saltillo Tile, as well as custom Mexican Talavera Tile details throughout. Gorgeous wooden beams and wood details. The kitchen features granite countertops, solid alder cabinets and stainless steel appliances. The refrigerator, washer and dryer were replaced in 2022 and stay!! Enjoy the spectacular views from the great room, and cozy up to the pellet stove insert in the winter! The primary bedroom has an additional room that can be used as an exercise room or an office. Oversized 3 car garage with RV bay and beautiful epoxied floors. HUGE driveway with plenty of parking for your family and friends. Owned 500 gallon propane tank! A MUST SEE!!!

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3100 W Frankfurt Drive Chandler, AZ 85226

$629,000

5 Beds

3 Baths

2,372 SqFt

Status Active

MLS # 6744740

Property Type Single Family Residence

Price Type --

Come make some memories here! Pristine location in one of the best cities to live in! Your family will love this 5 bedroom 3 bath home with a gorgeous deck off the Primary bedroom. With no neighbors behind you, you will truly enjoy the serenity here. Pride of ownership are in the details with all new energy efficient windows, new water heater and the HVAC is 2021. Lots of natural light to enjoy the chef's kitchen with granite counters and SS appliances and so much storage. 3 bedrooms Upstairs with beautiful wood floors. Downstairs has 2 bedrooms and a living room with a fireplace, so many spaces to enjoy. Step outside and entertain or relax in your private, tranquil backyard under the stars or have drinks and conversations in the gazebo & ramada. Close to all things in Chandler!!

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3209 W Hazelhurst Lane Anthem, AZ 85086

New

$629,000

2 Beds

2 Baths

2,064 SqFt

Status Active

MLS # 6758662

Property Type Single Family Residence

Price Type --

A perfect place to be in Anthem Country Club. This charming home has been lovingly cared for and lightly lived in. Current owner has updated the kitchen with new granite countertops, painted cabinets, sink and appliances including an induction cook top. All carpet in home was removed and replaced with laminate flooring. The entertainment wall in the great room has been redone and modernized to make room for a large TV. Fireplace has stacked stone that is beautiful and new mantle. Neutral tones throughout the home. Master bedroom closet has closet system installed. Laundry room updated and includes brand new washer/dryer with warranty! The backyard is fabulous! A spot to relax in solitude or plenty of room to throw a party! View fence overlooks the lush wash behind the home. Fabulous home for full or part time! As you arrive at the home, you will see the private courtyard awaiting you. The landscaping out front is just beautiful and the exterior of the home has been recently painted. The courtyard is great entertaining space too! No worries about maintenance - roof replaced in 2023, AC replaced 2024. Welcome to Anthem Country Club with amazing amenities including two 18 hole championship golf courses with club house, 2 pools, 2 restaurants and bars, 2 workout facilities with classes free to you, pickleball courts, tennis courts and bocce ball! Outside the gates of the club you will find even more! Water park, pool, Adventureland play park, tennis, pickleball, skate park, community center with activities and classes, beach volleyball, gated and private community dog park, our favorite Music in May concert series and more!

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1371 N Alison Way Chandler, AZ 85226

New

$629,000

3 Beds

3 Baths

2,037 SqFt

Status Active

MLS # 6754121

Property Type Single Family Residence

Price Type --

* CHANDLER STUNNER * PREMIUM CORNER LOT * FORMER MODEL * ACROSS FROM COMMUNITY POOL * LIKE LIVING IN A RESORT * LOFT-STYLE HOME * QUARTZ COUNTERS * STAINLESS APPLIANCES * UPGRADED CABINETS * OVERSIZED SLIDER * WRAPAROUND BALCONY * UPGRADED RAILINGS * LOFT WITH VIEWS * MASTER SHOWER WITH TILE SURROUNDS * CASITA WITH HALF BATH * VIEWS OF SOUTH MOUNTAIN * GET IT BEFORE ITS GONE! *

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2 Broadmoor -- Prescott, AZ 86305

$629,000

3 Beds

2 Baths

1,794 SqFt

Status Active

MLS # 6753352

Property Type Single Family Residence

Price Type --

Beautiful maintained 3 Bedroom,2 Bath Home nestled in the highly desirable Wildwood Estates,a tranquil community offering a perfect balance of nature&convenience.Enter into the spacious great room w/a cozy gas fireplace,formal dining room,kitchen w/easy access to both indoor&outdoor dining areas.This area flows seamlessly into the two guest bedrooms w/a full second bath.Large primary bedroom w/an ensuite remodeled designed for that modern living.Laundry room w/ample cabinet storage space,2 car garage w/built in cabinets.Expansive covered deck opens to the private backyard a peaceful retreat surrounded by mature trees.Relaxing and comforting style in a serene setting.This home blends the best of indoor&outdoor living.Make this charming home your own.

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11329 E Savannah Avenue Mesa, AZ 85212

$629,000

4 Beds

2.5 Baths

3,080 SqFt

Status Active

MLS # 6745817

Property Type Single Family Residence

Price Type --

You will fall in love with this huge corner lot property that exhibits pride of ownership in East Mesa. Notice the fantastic curb appeal and easy to maintain and beautiful landscaping. It has separate living & family rooms and either tile or wood flooring throughout.Kitchen offers upgraded cabinetry with a ton of storage space, gas cook top stove, wall ovens, island with breakfast bar, &granite countertops. The laundry has extra cabinets & sink. There are 4 spacious bedrooms, 2.5 baths, and fantastic loft. In the primary bath there is a garden tub, separate shower, walk-in closet, and private toilet room. The backyard is an oasis with covered patio and swimming pool. Meticulously maintained home by original owners. New Roof, paint, laminate floors in 2024. A/C units routinely maintained.

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13870 N 96th Street Scottsdale, AZ 85260

$629,000

3 Beds

3.5 Baths

1,873 SqFt

Status Active Under Contract

MLS # 6744215

Property Type Townhouse

Price Type --

Experience luxurious living in this beautifully renovated townhome in the heart of desirable North Scottsdale! Featuring stainless appliances, quartz counters, the latest finishes, upgraded wood-look premium floors and recessed lighting throughout. Enjoy peace of mind with a new roof in 2022, new A/C's in 2021 & 2024 and new water heater in 2024. Three spacious bedroom suites with 1 on the main level and 2 on the upper level with two having a dedicated bath that offers comfort and privacy. A spacious loft adds versatile living space upstairs. The home includes a large attached 2-car garage, an oversized back patio, and an upstairs balcony with stunning mountain views. Community walking paths and a community pool complete this tastefully remodeled, easy living masterpiece. Welcome home!

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43871 E Cadillac Wash Road Tucson, AZ 85739

$629,000

3 Beds

3 Baths

2,894 SqFt

Status Active

MLS # 6750532

Property Type Single Family Residence

Price Type --

CHARACTER, PRIVACY, VIEWS!! This spectacular single-story home, set on an expansive 6.58 acre lot that offers the ultimate sanctuary and space. The desirable interior features high ceilings, expansive windows, tons of wood craftsmanship, including stained solid wood doors, stylish tile and hardwood flooring that flows effortlessly throughout. The open floor plan offers entertaining in style including the charming dining room with cozy fireplace, setting the perfect ambiance for everyday enjoyment. The stunning kitchen is a chef's dream, boasting durable stained concrete countertops, stainless-steel appliances, electric cooktop, double wall ovens, spacious island/breakfast bar with extra storage. Every detail, has been carefully curated, from the recessed lighting, travertine tile backsplash to the striking stone walls and hand crafted wood cabinetry. The primary suite is a true luxury retreat, offering ensuite master bath with air jetted soaking tub, comfortable sitting area and a spacious walk-in closet. Step outside to your expansive backyard, where a large covered patio provides the perfect space for outdoor dining and relaxation. Enjoy the hot tub spa, low-maintenance artificial turf, natural desert landscape with surrounding mountain view's and beautiful sunsets. A detached workshop and extra storage room complete this exceptional property. Lots of room to grow! Low property taxes and NO HOA. Make this gem yours today!

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4432 Ute Circle Happy Jack, AZ 86024

$629,000

3 Beds

2 Baths

1,650 SqFt

Status Active

MLS # 6698505

Property Type Single Family Residence

Price Type --

Welcome home to this charming single-family log cabin home in Happy Jack. With 3 bedrooms, 2 bathrooms, and a loft space, this home offers plenty of room for you and your family. Step inside and be greeted by the warm and inviting atmosphere of this log home. The large windows throughout flood the home with natural sunlight, creating a bright and airy feel. The living room features vaulted Tongue & Groove wood ceilings and dual pane windows, providing stunning views of the surrounding scenery. The kitchen is an open floor plan with its kitchen island, ample counter space, and a pantry for all your storage needs. Recessed lighting and ceiling fans are installed throughout the home, ensuring comfort and convenience. With one bedroom upstairs and the two additional bedrooms downstairs they are perfect for guests or a home office with some privacy. The loft space offers endless possibilities, whether it be a game room or a quiet reading nook. Outside, you'll find a detached log garage and mature trees on the generous corner lot, providing privacy and a beautiful backdrop. The two-car garage ensures plenty of space for parking and storage. As for the neighborhood, Starlight Pines offers a serene and close-knit community. Nearby, you'll find a variety of outdoor activities such as hiking trails, reservoir and lakes, perfect for those who love to explore nature. Don't miss out on the opportunity to make this beautiful log cabin your forever home. Call now to secure your slice of paradise.

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5110 W Saddle Mountain Trail San Tan Valley, AZ 85144

$629,000

4 Beds

3 Baths

2,400 SqFt

Status Active

MLS # 6697967

Property Type Single Family Residence

Price Type --

Life is different outside the box! Experience the unique charm of round architecture with this exclusive sanctuary nestled between the majestic San Tan and Superstition Mountains. This Deltec home, free from HOA constraints and situated on over an acre, offers panoramic views that only a round home's wrap-around windows can provide. Enjoy million-dollar vistas from a newly built $30k deck, capturing breathtaking sunsets and rugged mountain terrains—ideal for nature lovers. Relax in a luxurious hot tub under the stars with unobstructed views. Inside, the home boasts a modern kitchen and renovated bathrooms. Ample space for your RV, boats, and outdoor toys or even horses. Perfect as a VRBO Yoga retreat.

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5317 W St Kateri Drive Laveen, AZ 85339

$629,000

5 Beds

3 Baths

4,040 SqFt

Status Active

MLS # 6704173

Property Type Single Family Residence

Price Type --

Large Fully remodeled like New !! 5 bedroom, 3 bathroom, 3 Car Garage Cul-de-Sac home in South Phoenix in well established Laveen community. New Tile floor and baseboards downstairs and New Carpet and Pad throughout home. Upgraded kitchen w/ Quartz Countertops and Exquisite Backsplash. Stainless Steel appliances and recessed lighting. Large island for plenty of counter space and entertaining. Spacious walk-in pantry. Living Room and Formal Dining area.. All bathrooms upgraded with tile surround. 1 bedroom with full walk-in shower downstairs and all bedrooms boast Walk-in Closets. Pre-wired for Surround Sound. Close to new shopping and new Loop 202 for quick commute. Backyard has full covered patio and grassy area. Close to park at end of street. MUST SEE!!

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