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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21798 S 184th Way Queen Creek, AZ 85142

$620,000

4 Beds

2 Baths

2,212 SqFt

Status Active

MLS # 6751057

Property Type Single Family Residence

Price Type --

Welcome to your Arizona dream home! Nestled in the highly sought-after Sossaman Estates. 4 bedroom 2 bath single-level beauty on a corner lot and right across the street from a children's park! A fabulous location and elegant inside! Come see this home with Andersen windows, custom lighting throughout, a gourmet kitchen with formal dining, custom wood-look Porcelain tile throughout (8 inch X 4 feet) , 3 car tandem garage with lots of storage and so much more. Come experience the cozy outdoor spaces you can surely enjoy which are perfect for entertaining, including a beautiful front patio looking out over the park which has lush green grass and is a great place for the kids to play. This home has been well taken care of and has so much charm. Better put this one on your list to show!

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15324 W Campbell Avenue Goodyear, AZ 85395

New

$620,000

5 Beds

3 Baths

3,558 SqFt

Status Active

MLS # 6759588

Property Type Single Family Residence

Price Type --

The long wait is over! Nestled on a generous corner lot in Palm Valley, this exquisite energy-efficient residence offers unmatched comfort and style. The stone-accented facade, 3-car garage, and RV gate set a grand tone. Step inside to be greeted by a spacious bonus room, tile and wood floors, recessed lighting, pre-wired surround sound, and an expansive great room. The formal dining area is perfect for gatherings, while the large den can serve as an office or gym. The chic kitchen boasts stainless steel appliances, wall ovens, a walk-in pantry, wood cabinets, mosaic tile backsplash, granite counters, and a breakfast bar. The sizable main suite includes space for a sitting area, direct backyard access, and a luxurious bath with dual vanities, a jetted tub, and a walk-in closet... Outside, the vast backyard offers a covered patio and ample room for a pool or custom landscaping. Don't miss your chance to see this stunning property firsthand!

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2509 N Dayton Street Phoenix, AZ 85006

$620,000

3 Beds

2 Baths

1,684 SqFt

Status Active

MLS # 6620344

Property Type Single Family Residence

Price Type --

Nice 3bedroom 1.75 bath with 2 Car Garage Also Parking on southside of home for Small boat Trailer or additional Cars. Guest home at rear of home with full bath and kitchen great for rental income or for your family to enjoy or maybe a office and alley entrance. you will love this home for a large family or as an Investment. close to restaurant's and Downtown activities Schools are all near by. Excellent Location. Owner is working on home and cleaning.

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1357 N Nebraska Street Chandler, AZ 85225

$620,000

3 Beds

3 Baths

1,971 SqFt

Status Active

MLS # 6740805

Property Type Single Family Residence

Price Type --

Discover your dream home in Chandler! Situtated on a cul-de-sac lot, this home offers 3 bedrooms, 2 baths, and an detached 356 sq ft guest house with a full bath and kitchenette. Enjoy no HOA restrictions and a 9ft RV gate with a slab for boats, campers, and other toys. The backyard features a Pebble Tec pool with a rock water feature and slide (updated in 2017), a ramada, and an extended covered patio. The main house, guest house, and storage shed received new roofs in 2021. Main & guest house exterior paint in 2022 with 20 year warranty. Stay comfortable with two new HVAC systems installed in 2020 and a solar water heater added in 2023. This home is a perfect blend of comfort and convenience in Chandler! Be sure to ask about the energy audit & solar savings!

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6202 E Mckellips Road Unit 293 Mesa, AZ 85215

$620,000

3 Beds

2 Baths

1,818 SqFt

Status Active Under Contract

MLS # 6731876

Property Type Single Family Residence

Price Type --

Located on the 17th hole of Painted Mountain Golf Course, this home is perfect for lock-and-leave or full-time living. The well-appointed kitchen with quartz counters, an island, and a great room is ideal for entertaining. It features 3 bedrooms, 2 baths, and a generous master retreat with an ensuite including a large walk-in shower, separate soaker tub, and walk-in closet. The home includes a new roof, new carpet, custom paint, gas appliances, and a soft water R/O system. Enjoy a covered patio, custom pergola, and built-in gas fire pit for year-round relaxation. The 2-car garage offers built-in cabinets and a workbench. No shared walls with neighbors. Community amenities include Pickleball, Community pool, a workout room and more! This Home is offered partially furnished. See More.... Close to Shopping, Restaurants, Hiking, Biking, Ball Parks, Red Mountain Park, Saguaro Lake, 202 and 60 Freeway, Hospitals and Falcon Field Airport. This is Prime Location!

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6630 W Pine Cone Trail Pine, AZ 85544

$620,000

3 Beds

3 Baths

2,127 SqFt

Status Active

MLS # 6736696

Property Type Single Family Residence

Price Type --

This beautiful house features 3Br plus game room, 2.5BA, spanning 2,127 sqft all single level on spacious lot. The oversized 2 car garage offers ample space for vehicles and storage. Room for RV on side of house. Inside, great room boasts a wood cathedral ceiling and vinyl plank flooring throughout the open plan great room. The gas fireplace, faced with stone, adds a cozy touch. The kitchen is open to teh great room and features an island and a double oven, pantry, making it perfect for cooking and entertaining. Large primary bedroom includes a walk-in closet. Generous game room or family room features its own fireplace and a minisplit system for temperature control. The wonderful backyard, perfect for entertaining, is fenced and landscaped with faux grass. House Generator!

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7850 Titan Drive Flagstaff, AZ 86004

$620,000

3 Beds

2 Baths

2,649 SqFt

Status Active

MLS # 6709285

Property Type Single Family Residence

Price Type --

HUGE Price Improvement Seller wants this home SOLD! SINGLE-LEVEL home nestled on spacious acreage! Situated in serene Doney Park on 2.5 Nicely Treed Acres. This home offers plenty of space inside and out at 2649 S.F. with 3 Bedrooms and 2 Baths, great room with stone surround fireplace, and an extra family room and bedroom in the converted garage. The owners have planted so many trees that offer plenty of shade while enjoying the outdoors. The garage conversion was permitted and completed in 2007 but does need some TLC including needing new flooring in most of the home. This home has panoramic views of the Peaks, Mount Elden, and Surrounding Hills. The property has a wonderful Chicken Coop and a large10.58 S.F. X 19.55 S.F. shed. Close, easy access to the forest and hiking trails!

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1126 N Saint Elena Street Gilbert, AZ 85234

$620,000

5 Beds

2.5 Baths

2,872 SqFt

Status Active

MLS # 6742964

Property Type Single Family Residence

Price Type --

Discover your dream home in the heart of Gilbert, AZ, one of the safest communities in the U.S. according to WalletHub, 2022. Perfectly situated on the bike-friendly Heritage Trail. This stunning 2 story home has a thoughtfully designed floor plan featuring a spacious Primary Suite on the first floor. Enjoy the elegance of vaulted ceilings and the warmth of solid wood floors throughout. The gourmet kitchen is a chef's delight, complete with granite countertops, stainless steel appliances, a breakfast bar, and an eat-in area, all seamlessly connected to the inviting family room with a cozy fireplace. With 5 spacious bedrooms, 2.5 baths, and a 3-car garage, this home caters to every need. Step outside to your private backyard oasis, where a sparkling pool with 4 water features, an elevated spa, and a built-in BBQ await, providing the perfect setting for relaxation and entertaining. Don't miss this opportunity to own a piece of paradise in one of Gilbert's most sought-after locations!

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1004 E Desert Hills Drive Phoenix, AZ 85086

$620,000

3 Beds

2 Baths

1,932 SqFt

Status Active

MLS # 6747246

Property Type Single Family Residence

Price Type --

Experience the Ultimate in Country Living! Escape to the serene beauty of Desert Hills with this charming 3-bedroom, 2-bathroom home, perfectly positioned on a generous 1.25-acre lot. Whether you're a horse enthusiast or just seeking wide-open spaces, this property offers endless possibilities. The expansive front yard is ready to accommodate your equestrian dreams, or it can be transformed into a custom detached garage or workshop. Step inside to find a welcoming interior that perfectly complements the natural surroundings. The 3 spacious bedrooms provide plenty of room for relaxation, while the 2 well-appointed bathrooms offer comfort and convenience for everyday living. The home itself boasts a modern, low-maintenance metal roof and a recently upgraded Trane AC, ensuring comfort and efficiency throughout the year. Outside, you'll find two matching storage sheds, ideal for all your tools and outdoor gear, as well as a spacious 3-car carport providing ample covered parking. With a 2-part shared well, you'll have reliable water access, while the wide-open spaces invite you to take in the natural beauty and stunning northeast views. This is truly a place where you can breathe easy and live the country lifestyle you've always dreamed of, all without the constraints of an HOA. This gem is a rare find in Desert Hills, offering both privacy and potential.

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12064 S 186th Avenue Goodyear, AZ 85338

$620,000

4 Beds

3 Baths

2,543 SqFt

Status Active

MLS # 6719055

Property Type Single Family Residence

Price Type --

This is your chance to secure a home in the highly sought after INSPIRE community of Estrella Mountain Ranch! Boasting a 4 bedroom 3 bathroom, split floor plan; this home sits on a premium oversized lot and has an open great room floor plan. Kitchen upgrades include: RO Water System, dark maple cabinetry with sliding shelves, crown molding, granite countertops, stainless appliances, and large island. The primary suite is generously sized and features a spa like bathroom with custom tile and a spacious walk-in shower. The front and backyard has been meticulously landscaped and upgraded. You will enjoy low maintenance plants, backyard turf, exterior sun screens on the sun exposed side of home, and pergola in addition to the covered patio. Storage is abundant here, the oversized 2 car garage has an additional storage area, storage cabinets, and overhead storage. Additional upgrades include plantation shutters throughout the entire home, wide porcelain plank wood-look tile floors throughout living areas & baths, granite countertops & upgraded mirrors in all baths, water-softener system, & much more! This home comes equipped with a large solar panel package, greatly reducing electricity costs throughout the year. See additional information in documents tab. Residents of Estrella Mountain Ranch enjoy access to two resident centers equipped with state-of-the-art fitness facilities, community rooms, and outdoor gathering spaces. Additionally, residents can take advantage of the pickleball and tennis courts, two community pools, and a water park with water slides. Outdoor lovers will appreciate the extensive network of over 50 miles of hiking and biking trails, which offer opportunities to explore the breathtaking landscape surrounding the community. Come and discover the magic of life in this vibrant community!

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1850 E Lynx Place Chandler, AZ 85249

$620,000

4 Beds

2 Baths

2,126 SqFt

Status Active

MLS # 6749753

Property Type Single Family Residence

Price Type --

Welcome to this stunning, well kept 4bed, 2bath 3 car garage home nestled in the highly sought after Creekwood Ranch neighborhood! This beautiful one owner, single-story home features all the bells and whistles with an open floor plan, formal living and dining area that flows seamlessly into the kitchen and family room, providing a great space for everyday living and entertaining. Large rooms with walk-in closets and garage cabinets, work bench and sink. The backyard is an entertainer's dream with a sparkling diving pool, a charming gazebo for shaded relaxation, a built-in grill area and large covered patio perfect for outdoor entertaining! RV gate and large yard with lots of grass and space for all your toys. You're going to love this one, come check it out!

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9311 W Coolidge Street Phoenix, AZ 85037

$620,000

6 Beds

5.5 Baths

3,949 SqFt

Status Active

MLS # 6729757

Property Type Single Family Residence

Price Type --

**Location, location, location!** This stunning 6-bedroom home is perfectly situated off 101 & Camelback, super close to Westgate, Glendale Stadium, and the soon-to-be-built waterpark and new hotels in this booming area. **Key Features:** - **Bedrooms and Bathrooms:** This home boasts 6 bedrooms, 5 of which have their own private bathrooms, providing unparalleled luxury and convenience. - **Spacious Living Areas:** Enjoy two family rooms—one upstairs and one downstairs—along with a formal living room and dining room, and a great room. - **Gourmet Kitchen:** The eat-in kitchen features a large island, open floor plan, and newly painted cabinets, making it a chef's delight. - **Updated Flooring:** New tiled flooring throughout the house, with no carpets upstairs, ensuring easy maintenance and a modern feel. - **Outdoor Oasis:** The large backyard is an Arizona oasis, featuring lush landscaping, a pebble tech pool with a waterfall, a spacious covered patio, and a big shade tree that adds to the luxurious ambiance. The pool has also been recently resurfaced. - **Energy Efficient and Tech-Ready:** The garage is equipped with a 220 outlet for your electric car, and the home has a newer AC unit and a recently repaired roof. - **Airbnb Income Potential:** Currently generating Airbnb income, making it an excellent investment opportunity. - **Additional Amenities:** Wood blinds and updated floors, including tile and wood laminate, add to the home's appeal. **Act Fast!** This extremely rare home won't last long, and there are very limited opportunities to see it. Come see this today and experience the best of Arizona living!

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