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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29277 N 70th Lane Peoria, AZ 85383

$615,000

4 Beds

3 Baths

2,172 SqFt

Status Active

MLS # 6754671

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 4-bed, 3-bath home in the sought-after Sonoran Mountain Ranch! Great curb appeal with a split 3-car garage, stone accent details, & a manicured desert landscape. You'll love the desirable open layout paired with plantation shutters, abundant natural light, tall ceilings, designer paint, and tile flooring w/plush carpet in bedrooms. The gourmet kitchen features granite counters, staggered Cherry cabinetry, a pantry, recessed & pendant lighting, a prep island w/breakfast bar, and SS appliances w/cooktop gas. Enter the main bedroom to find an ensuite that boasts dual sinks, a large walk-in closet, & a shower w/dry-off area. The charming backyard is the best spot for relaxing or entertaining, offering a paver-covered patio & artificial turf! What a GEM!

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1014 S 2nd Street Phoenix, AZ 85004

$615,000

4 Beds

3 Baths

1,897 SqFt

Status Active

MLS # 6759017

Property Type Single Family Residence

Price Type --

This property features two separate homes, each with its own private ingress and egress, making it ideal for rental income or living in one and renting out the other. Both homes are enclosed with block wall privacy. The front home offers 2 bedrooms and 2 bath. While cozy, it has been updated with tile flooring, a fully tiled tub surround, and an all-tile shower in the second bath. Dual-pane windows throughout improve energy efficiency. The rear house is newer, with 2 bedrooms, 1 bath and 1,008 sqft of living space. Together, the two homes provide almost 2,000 sqft of total living area. Conveniently located very close to Chase Field, Footprint Center, major freeways and all of what downtown Phoenix has to offer!

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9222 E Nacoma Drive Sun Lakes, AZ 85248

$615,000

2 Beds

2.5 Baths

2,846 SqFt

Status Active

MLS # 6740608

Property Type Single Family Residence

Price Type --

Welcome to this charming 2-bedroom, 2.5-bath home in the gated 55+ Oakwood community. This delightful home features a den, formal living and dining rooms, and a cozy family room. The open kitchen includes a separate eating area, a center island and a breakfast bar. The spacious primary bedroom has dual closets and a private bath with a separate tub and shower. The large back patio backs onto the serene walking path, perfect for relaxation. Enjoy all the community amenities like pickleball, golf, tennis, a gym, various classes, and so much more. Don't miss out on this lovely home in the vibrant Oakwood community!

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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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7741 E Portobello Avenue Mesa, AZ 85212

$615,000

5 Beds

3 Baths

2,676 SqFt

Status Active

MLS # 6744520

Property Type Single Family Residence

Price Type --

Check out this fantastic 5 bed, 3 bath residence now for sale! A beautiful facade w/stone accents, a manicured landscape, and 3 garage spaces are just the beginning. Inside you will find a spacious dining & living area w/graceful archways, soft carpet in all the right places, and plantation shutters. The cozy family room boasts a fireplace to keep you warm. The luxurious kitchen is equipped w/ample wood cabinetry, granite counters, a pantry, track lighting, SS appliances, and an island w/a breakfast bar. The primary bedroom showcases vaulted ceilings, a walk-in closet, and a full ensuite w/dual sinks. Don't forget about the large bonus room w/custom palette. Also including an expansive backyard w/a covered patio, this home is a true gem! What are you waiting for? Act now!

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4366 E Sunrise Drive Phoenix, AZ 85044

$615,000

3 Beds

2 Baths

1,930 SqFt

Status Active

MLS # 6754286

Property Type Single Family Residence

Price Type --

Wow! Come and see this Ahwatukee beauty! Single level, 3 bedrooms, elevated interior corner lot, block home with almost 2000 square feet. Newer open kitchen with tons of replaced cabinets and granite counter tops opening to family room with fireplace. French doors lead you to resort backyard with large pool that was installed a few years ago, huge covered patio, artificial grass and views of South Mountain. Tile floors throughout entire home, updated ceiling fans, hardware, switches and plugs. Large primary bedroom with walk-in closet. Oversized secondary bedrooms with custom closets. Updated bathrooms and more. Please note newer HVAC, windows and recently coated roof. Refrigerator, washer, dryer convey. Not HOA and close to Western Star Park! Quick close available.

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8700 E Mountain View Road Unit 1077 Scottsdale, AZ 85258

$615,000

3 Beds

2 Baths

1,564 SqFt

Status Active

MLS # 6755641

Property Type Single Family Residence

Price Type --

What a rare opportunity, a Patio Home Style unit w/attached 2 car garage in the sought after community of Sun Canyon on McCormick Ranch! This 3 bdrm, 2 bath detached home offers a great rm floorplan w/eat in kitchen, wet bar and split bdrms. The 3rd bdrm has double doors so can easily function as a den or office. Situated in the furthest Northern part of community this home has the utmost privacy yet easy access. Fully appointed kitchen w/large amt of storage and stainless appliances (newer refrigerator conveys). Inside laundry that offers clothes washer & dryer that also convey. Sun Canyon HOA offers htd community pool, spa, clubhouse & lush common areas. The HOA also includes front yd maintenance, roof repair & ext. maintenance of units. Come see this amazing Patio Home ASAP!

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8236 E Cambridge Avenue Scottsdale, AZ 85257

$615,000

3 Beds

2 Baths

1,578 SqFt

Status Active

MLS # 6752083

Property Type Single Family Residence

Price Type --

Lovely One Story Family Pool Home in Scottsdale, Features 3 Bedrooms and 2 Bathrooms, Living Room, Family Room with beautiful built-ins, and Kitchen. The Kitchen has newer style cabinets, Countertop and Appliances. Down the hallway are the bedrooms and Bathrooms, Bedrooms are all a good size, Wonderful Rear Yard, Covered patio, and private in ground pool, plenty of room to entertain here. Utility Room, Carport with driveway, Close to shopping, Schools, and more. Must See!

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2136 W Village Drive Phoenix, AZ 85023

$615,000

4 Beds

3 Baths

2,757 SqFt

Status Active

MLS # 6751243

Property Type Single Family Residence

Price Type --

This inviting 4-bedroom, 3-bath residence is the one you've been searching for! Every inch of this home has been thoughtfully remodeled, offering 2,750 square feet of stylish interior living space. The spacious family room features exposed beams, an inviting stone fireplace, and double sliding doors that open to the recently updated backyard. The sleek kitchen boasts quartz counters, abundant shaker cabinets, stainless steel appliances, a walk-in pantry, and a convenient breakfast bar. The main bedroom includes a modern ensuite bathroom. Step outside to the welcoming backyard, perfect for outdoor entertaining. It includes a 10' x 20' pergola, lighted cornhole, and spaces devoted to both dining and a firepit all surrounded by low-maintenance artificial turf. Additionally, a 560 sq ft air-conditioned and heated detached bonus building awaits, ready to serve as a home office, gym, or hobby space. Make this gem yours today!

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19700 N 76th Street Unit 1125 Scottsdale, AZ 85255

$615,000

3 Beds

2 Baths

1,729 SqFt

Status Active Under Contract

MLS # 6752958

Property Type Townhouse

Price Type --

Discover modern living in this stunning 3-bed, 2-bath ground-floor unit at The Village at Grayhawk, offering the perfect blend of luxury and convenience. With direct garage access, this beautifully remodeled home features sleek wood plank tile flooring, a contemporary fireplace surround, and a stylish kitchen backsplash that exude sophistication. The third bedroom, with its own closet, offers flexibility as a bedroom or an office. Upgrades abound, including stainless steel appliances, white cabinetry with brushed nickel accents, updated light fixtures, ceiling fans, and modern window treatments. Enjoy peace of mind with a newer hot water heater, toilets, Culligan soft water system, and recently replaced carpet, washer, and dryer (November 2023). The entire interior was freshly painted in 2022, adding a fresh and modern touch. Nestled in an ideal location, you're just steps away from two of the community's three resort-style pools, perfect for unwinding. This is Arizona living at its finest, combining comfort, style, and the vibrant Grayhawk lifestyle. Don't miss out on this incredible opportunity!

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21129 W Main Street Buckeye, AZ 85396

$615,000

2 Beds

2.5 Baths

2,204 SqFt

Status Active

MLS # 6658661

Property Type Townhouse

Price Type --

Location and so much more!! Welcome home to your forever on Main St. in the heart of Main St. District of Verrado! Remodeled, updated and beautiful upgrades throughout. Home is meticulously maintained. Two bedrooms, 2,5 baths and 2 car garage. Gorgeous Medallion entry way, all ceramic floor tile and upgraded baseboards down. Plantation Shutters throughout. The kitchen is highly upgraded with everything to entertain and WOW a crowd. Upgrades include: All Cabinetry, doors/handles, crown molding, SS Cook top hood, Granite counter tops & new dishwasher 2023. All new toilets and Vanity sinks. Surround Sound Throughout. Primary Bedroom Remodel expansion includes Spacious Walk-in Closet by Classy Closets, Laundry Room Upstairs and Primary bathroom with travertine tile shower. Guest bath shower new, 2022. Outdoor living on front porch with sealed travertine and a stunning view of Main St Verrado. The backyard was buil t to entertain with ample pavers, built in Kitchen/BBQ, beautiful Gas Fire Place and Cascading Waterfall. Neutral palette interior paint, 2022, All Exterior 2021; HVAC Units replaced 2023; New Hot Water Heater 2021, Water softener whole house + RO in kitchen; Much to appreciate here with location to Verrado's unique 'downtown' and golf club. Come and See Us!

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3891 E Simpson Road Gilbert, AZ 85297

$615,000

4 Beds

2 Baths

2,309 SqFt

Status Active

MLS # 6730917

Property Type Single Family Residence

Price Type --

Welcome to your oasis at 3891 E. Simpson Rd, Gilbert, AZ. This modern home features a spacious backyard with a refreshing pool. Inside, an open floor plan is perfect for entertaining. The gourmet kitchen includes sleek countertops and stainless steel appliances. The living area is bright and inviting, with large windows. The luxurious primary suite has a private ensuite and walk-in closet. Additional bedrooms provide flexibility for guests, a home office, or hobbies. The backyard is a resort-style retreat with a pool, lush landscaping, and a covered patio. Recent upgrades include a new pool heater (2022) and HVAC system (2023). Located in a desirable neighborhood, this home offers access to local parks, top-rated schools, shopping, Trilogy Golf Course, and dining. Don't miss out on

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