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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646 W Naranja Avenue Mesa, AZ 85210

$615,199

4 Beds

2.5 Baths

2,039 SqFt

Status Active

MLS # 6738172

Property Type Single Family Residence

Price Type --

**Price Reduced** $10k Below Market value and ready to sell, Seller says bring an offer!! Welcome to your dream home, a beautifully remodeled gem located in desirable Mesa neighborhood. This stunning residence has been thoughtfully updated both inside and out, combining modern luxury with functional design. The updated kitchen is a chef's delight, featuring sleek stainless steel appliances and elegant quartz countertops that make meal preparation a pleasure. Crown molding throughout the downstairs and in the primary bedroom adds a touch of sophistication, while all-new fixtures and custom shutters with faux blinds enhance the home's refined aesthetic. Step outside to enjoy your private oasisa sparkling pool perfect for cooling off on hot summer days. The front and back yards are zero-scaped, providing beautiful, low-maintenance outdoor spaces that are as practical as they are attractive. This home isn't just a place to live; it's a lifestyle upgrade. Don't miss out on this exceptional opportunity, schedule a showing today and experience the perfect blend of elegance and convenience!

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13326 W Montansoro Lane Peoria, AZ 85383

$615,000

2 Beds

2 Baths

1,760 SqFt

Status Active

MLS # 6753497

Property Type Single Family Residence

Price Type --

SPECTACULAR N/S home on a PREMIUM lot with a NATURAL DESERT/MOUNTAIN SETTING - walking distance to the MITA CLUB! This GORGEOUS like new - open concept - 2022 built Vibrant shows like a MODEL & furniture can be purchased on a separate Bill of Sale making it the perfect winter retreat or full-time home! PAVER driveway/walkway & STONE ACCENTS greet you as you enter this PRISTINE home! STUNNING tile flooring in all the right areas & upgraded carpet in the bedrooms. The BEAUTIFUL kitchen features a large breakfast island, pendant lighting, roll-outs/trash-recycle & soft close drawers, LED under cabinet lighting, GRANITE slab, large pantry, gas stove, SS appliances & dining area. Great room w/2 large windows overlook the natural desert. Den/office has a BUILT-IN cabinet for additional storage. Both baths have CUSTOM tile showers w/decorative listelles - framed mirrors in the spacious owner's suite w/dual sinks & large walk-in closet. Enjoy your FENCED backyard DESERT OASIS - EXTENDED COVERED paver patio, synthetic grass, lighting & natural stone fountain. What an AMAZING opportunity to make this your HOME!! Upgrades: split-tilt plantation shutters, drapery panels, two tone paint t/o, laundry sink w/upper & lower cabinets w/stone c-tops, larger baseboards t/o, lighting, ceiling fans, deeper garage for toys/storage, water softener, reverse osmosis & trash enclosure on side of home.

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1237 W Mediterranean Drive Gilbert, AZ 85233

$615,000

4 Beds

2.5 Baths

2,377 SqFt

Status Active

MLS # 6742811

Property Type Single Family Residence

Price Type --

Make yourself at home in this incredible property situated in the enchanting lake Community of The Islands! Great curb appeal with a 2-car garage, a verdant front yard with a shade tree, & an inviting front porch. Discover spacious living areas excellent for hosting & entertaining guests. The home exudes charm with its high ceilings, graceful archways, warm paint, cozy fireplace, & tile flooring. The kitchen is equipped with granite counters, track lighting, wood cabinetry, & a bright breakfast nook. You'll love to retreat in the grand main suite upstairs, featuring plush carpeting, a sitting area with balcony access, a full ensuite, & a walk-in closet. Enjoy the pleasant neighborhood and lake views from the airy balcony. The backyard invites you to relax & have fun! Don't miss out!

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1820 N 199th Avenue Buckeye, AZ 85396

$615,000

4 Beds

2.5 Baths

2,050 SqFt

Status Active

MLS # 6753132

Property Type Single Family Residence

Price Type --

Great ranch home in an amazing location right off the I-10 freeway with spectacular mountain views! This 4 bedroom, 2.5 bath home has a large comfortable floor plan with over 2,000 sq ft livable for any family to enjoy. There is a 30' x 60' detached workshop on the property that has electricity and water !HUGE BONUS! The roof is only 5 years old. Home was fully remodeled in 2018 with new windows, plumbing, new tile throughout, new bathrooms fully gutted, beautiful quartz countertops, exterior & Interior paint, the list goes on and on. The backyard has 2 large covered patios with a BBQ area and a designated OUTDOOR BATHROOM for guests to use without having to go into the main house. You can see the pride in ownership here and with over an acre of land the possibilities are endless!

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28107 N 123rd Lane Peoria, AZ 85383

$615,000

2 Beds

2 Baths

1,682 SqFt

Status Active

MLS # 6754195

Property Type Single Family Residence

Price Type --

WELCOME to RESORT STYLE LIVING in This BEAUTIFUL UPDATED MONTIS MODEL in TRILOGY at VISTANCIA. LIGHT & BRIGHT KITCHEN Features SOFT GRAY CABINETS, QUARTZ COUNTERS, All NEW SS APPLIANCES in 2020. ENERGY EFFICIENT CARRIER 4 TON AC/HEATPUMP 2023. WINDOWS in MBR and DEN REPLACED 2023, CUSTOM LAUNDRY SPACE DESIGNED for GE WASHER/DRYER COMBO 2023, ABUNDANT STORAGE in KITCHEN & LNDRY AREA. NEUTRAL PAINT and TILE FLOORING THROUGHOUT, UPGRADED NEWER CARPET in BEDROOMS, NEW WINDOW COVERINGS TOO! PRIVATE BACKYARD FEATURES HEATED/COOLED PEBBLE TEC POOL, COVERED PATIO W/ MISTING FAN, MOUNTAIN VIEW, and NO NEIGHBORS BEHIND. NEW FRONT LANDSCAPING 2023. Garage BOASTS HEAVY DUTY SHELVING and NEW OPENER 2024. THIS METICULOUSLY MAINTAINED HOME is ALMOST NEW and READY for NEW OWNERS.

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10232 E Posada Avenue Mesa, AZ 85212

$615,000

4 Beds

2 Baths

2,293 SqFt

Status Active

MLS # 6738831

Property Type Single Family Residence

Price Type --

Situated on an Interior N/S Lot Featuring 3 Bedrooms + Den Split Floor Plan with 10Ft Ceilings, Lots of Tile & Wood flooring, Accent Paint, Surround Sound with In-Ceiling Speakers, the Beautiful Kitchen Features an Island/Breakfast Bar, Granite Slab Counters w/Tumbled Travertine Backsplash, 42'' Maple Cabinets w/Hardware & Pull Out Shelves, and Stainless-Steel Appliances, Soft Water & R/O Systems, Additional Cabinets in Laundry Room, Bay Window and Separate Exit to Patio from Spacious Owners Suite, Tile Shower Surround in Owners' Bath, Large Secondary Bedrooms w/Walk-In Closets, The Backyard Features a Large Covered Patio w/Speakers, Stamped Concrete, a Pebble-Tec Pool w/Rock Waterfall and Storage Sheds. Garage Cabinets and Service Door in 3 Car Garage. New Roof in 2021 & New AC's 2017.

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7810 S 220th Lane Buckeye, AZ 85326

$615,000

4 Beds

2 Baths

1,846 SqFt

Status Active

MLS # 6747763

Property Type Single Family Residence

Price Type --

Irrigated Lot! Horse Property on Over One Acre! This stunning home features eye-catching curb appeal, complete with a circular driveway, vibrant lawn, a spacious 3-car garage, and an RV gate for added convenience. Inside, the inviting great room showcases high vaulted ceilings, a neutral color palette, plush carpeting in all the right places, and a cozy fireplace that sets the perfect ambiance. The well-appointed kitchen is a chef's delight, featuring ample cabinetry, generous counter space, a breakfast bar, and a pantry. The luxurious main bedroom includes a private ensuite with dual vanities and a walk-in closet. Step outside to the expansive backyard, which boasts a relaxing covered patio, RV parking, multiple seating areas, and a lush, green lawn.

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6534 W Tether Trail Phoenix, AZ 85083

New

$615,000

5 Beds

3.5 Baths

2,511 SqFt

Status Active

MLS # 6759325

Property Type Single Family Residence

Price Type --

REMODELED 5 BEDROOM WITH A POOL! - Beautiful 5 bed, 3.5 bath home in NW Phoenix. Close to Norterra and Lake Pleasant Towne Center. This home was extensively updated late 2022, entire new kitchen, floors, carpet, paint, and pool. The large primary suite is on the main floor along with an en-suite guest bedroom. Upstairs you will find a landing area with built in cabinets, 3 additional bedrooms, a full bath, and mountain views! The backyard is an oasis with a gas fire pit, updated diving pool with Baja shelf and built in BBQ. Tankless water heater installed in 2022 along with water softener. The home also has an OWNED solar system that will help with utility costs.

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9733 E Natal Avenue Mesa, AZ 85209

New

$615,000

3 Beds

2 Baths

2,141 SqFt

Status Active

MLS # 6759447

Property Type Single Family Residence

Price Type --

Come and see this beautifully remodeled 3 bed, 2 bath, 2 car garage home in east Mesa. Located in the sought after community of Augusta Ranch this home is close to the US 60 and San Tan 202 and in the Gilbert Public schools district. Pulling up to the home you see the fresh paint and low maintenance landscaping. Through the front door you are welcomed by brand new luxury vinyl plank flooring in the main living areas and plush patterned carpet in the bedrooms. The open floor plan shows off your brand new kitchen which boasts new black shaker cabinets with tons of storage, white quartz countertops, new upgraded stainless appliances, custom tile backsplash and a huge island. Just off the kitchen is a built in beverage fridge ready to be stocked full. This split floor plan has the master suite off to the left of the great room and it is stunning!! It features dual walk in closets, a brand new white shaker dual sink vanity, brushed gold accents and hardware, large marble look tile, brand new walk in shower, separate soaking tub with matching tile surround and private toilet room. New ceiling fans, door hardware light and plumbing fixtures throughout the home give it a modern feel. New window coverings. BRAND NEW ROOF! Out back there is plenty of room to entertain with a large patio with paver area extension and freshly laid sod. Garage has new epoxy floors and is oversized with extra side area perfect for storage. This home is move in ready. Don't miss out!!

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22935 W Watkins Street Buckeye, AZ 85326

$615,000

3 Beds

2 Baths

1,576 SqFt

Status Active

MLS # 6742636

Property Type Single Family Residence

Price Type --

Discover the perfect blend of comfort and outdoor living in this beautifully renovated ranch-style home on a spacious 1.01-acre lot. This 3-bedroom, 2-bathroom gem features a modern kitchen and bathrooms, thoughtfully updated for today's lifestyle. The front of the home welcomes you with a charming roundabout driveway, irrigated landscaping, and ample parking for multiple vehicles. Step outside to your personal backyard oasis—ideal for entertaining—with a covered ramada, built-in barbecue, and a large underground pool surrounded by a lush grass area, perfect for cooling off during Arizona's hot summers. Located just a short walk from Buckeye Sundance Park, enjoy easy access to fishing, ramadas, and more. Don't miss the opportunity to make this exceptional property your own!

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2431 W Eagle Feather Road Phoenix, AZ 85085

$615,000

4 Beds

2 Baths

2,309 SqFt

Status Active Under Contract

MLS # 6747132

Property Type Single Family Residence

Price Type --

As you enter this meticulously maintained 4-bedroom, 2-bathroom home, you are greeted by a bright and elegant atmosphere, from the front room's charming shutters to the gleaming tile flooring that guides you toward the dining and living areas. Just off the entrance, classic glass French doors open to a versatile den/office. The kitchen has been tastefully updated with pendant lights, freshly painted cabinets, a coordinating tile backsplash, and granite countertops. The spacious primary bedroom offers a personal retreat, featuring an updated en-suite bathroom w/ a walk-in shower, a private toilet room, and a generous walk-in closet. Step outside to enjoy the extended covered patio that overlooks a sparkling pool. Additional features of the home include two AC units & garage cabinetry Living off the I-17 and Carefree Highway fantastic due to its proximity to a variety of shopping centers (Norterra & Anthem) and diverse dining options that cater to every tastebud. The area offers a blend of convenience and vibrant local culture, perfect for a place to make home.

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10954 E Quarry Circle Mesa, AZ 85212

$615,000

4 Beds

3 Baths

2,080 SqFt

Status Active

MLS # 6748673

Property Type Single Family Residence

Price Type --

Welcome to this beautiful Blanford home located in the desirable Highland Ridge, situated within bustling Northeast Mesa. This home has fantastic views of the Superstition Mountains, nestled within the massive lot at the end of the cul-de-sac. Featuring fresh paint inside and out, and new carpeting allows you to move right in. Popular single-story model showcases 4 ample sized bedrooms and 3 full baths. The 2000+ sq ft includes a massive open-concept kitchen with a large island, upgraded 42in cabinets & tons of storage. All baths have raised vanities & upgraded cabinets as well. Looking for additional storage? You'll appreciate the large laundry room & naturally lit walk-in closet in the primary bedroom. Step outside & truly be amazed at the immense possibilities that await you on the nearly ½ acre lot. The RV gate w/massive side yard provides opportunities to add additional storage, pool, or a casita. Acres of multiple communal areas flow throughout the neighborhood connected by walking paths, leading to wonderful parks with playgrounds & basketball courts. Highland Ridge is conveniently located near the 202 & US60, minutes from newly built shopping, dining, & entertainment in a high-growth area. Don't wait, come & check out this unicorn today!

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