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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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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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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29449 N 51st Street Cave Creek, AZ 85331

$615,000

4 Beds

2 Baths

1,591 SqFt

Status Active

MLS # 6753534

Property Type Single Family Residence

Price Type --

Remodeled w/ NEW ROOF, 4-bedroom, 2 Car, single-story gem in Cave Creek, just minutes from Scottsdale & Desert Ridge! This home is designed to impress, featuring a Chefs Dream kitchen with high-end GE Cafe Series appliances, Induction Range w/ double ovens, sleek white shaker cabinets, soft-close doors & drawers, white quartz countertops throughout, & sophisticated champagne gold fixtures. The bathrooms have been updated with modern vanities, undermount sinks, stylish fixtures, lighting & mirrors. The entire home boasts contemporary tile flooring. Step outside to a spacious backyard with NEW Artificial Turf, Landscape Watering System & Pavered patio-great for entertaining! Outdoor screens installed March 2024, 6 yr old Trane HVAC. Move in ready!

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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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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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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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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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4570 S Felix Place Chandler, AZ 85248

$615,000

3 Beds

2.5 Baths

1,983 SqFt

Status Active

MLS # 6757381

Property Type Single Family Residence

Price Type --

Welcome to Parkview Place, a beautiful GATED Ocotillo community. This home has been meticulously maintained by original owner and shows like a model! Fabulous floor plan features 3 bedrooms, 2.5 baths PLUS a large open LOFT and 2 car garage. Modern Craftsman design features 42'' white cabinetry, stainless steel appliances, quartz kitchen countertops, wood plank style tile, upgraded carpet in bedrooms, white blinds, satin nickel fixtures and finishes, 8' four panel sliding patio door and much more. Artificial turf in yard and sparkling community pool with BBQ area.. At Parkview Place, convenient, low maintenance living meets exceptional design & innovation. Snedigar Park and the Fulton Ranch walking paths and lakes just steps away. Fabulous lock and leave opportunity!

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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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6534 W Tether Trail Phoenix, AZ 85083

$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

$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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4624 E Superstition Boulevard Apache Junction, AZ 85119

$614,999

3 Beds

2 Baths

1,484 SqFt

Status Active

MLS # 6727460

Property Type Single Family Residence

Price Type --

Seller willing to contribute/negotiate concessions to Buyer. This horse property offers luxury and country living with no HOA. Key features include full slab Quartzite countertops, book-matched backsplash, soft-closing white shaker cabinets, GE slate appliance package, slate range hood, gas cooktop, Walt Disney collection lights, antique copper sinks and hardware, vaulted ceilings, abundant natural light, open floor plan, all-new flooring, new windows, storage shed, private water, and septic system. Enjoy mesmerizing views of the Superstition Mountains. Embrace serene beauty and off-grid living. Some see your private tour today! It's vacant and easy to tour.

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