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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12827 S Hermit Road Buckeye, AZ 85326

$614,900

4 Beds

2 Baths

2,161 SqFt

Status Active

MLS # 6729702

Property Type Single Family Residence

Price Type --

Welcome into your beautiful spacious horse property with a pool located on just over an acre! The property is fully fenced and has a 2 car garage. You'll love this spacious floor plan, with 4 bedrooms, 2 bathrooms and has tons of natural light throughout with vaulted ceilings. The gorgeous kitchen has custom cabinets, stainless steel appliances and a breakfast bar. The owner's suite features tons of space, with a large master bathroom that has a separate tub and shower and double sinks. Out back you'll find a fenced pool with a large baja step and is surrounded with travertine decking. The extended covered patio makes for great entertaining space. This oversized lot has tons of space to build horse stalls, storage sheds etc. Home is located in a non HOA community. Come out to see it!

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1410 W Flintlock Way Chandler, AZ 85286

$614,900

3 Beds

2 Baths

2,132 SqFt

Status Active

MLS # 6742529

Property Type Single Family Residence

Price Type --

Excellent location! This 3 bed, 2 bath + office/den home boasts of 2 spacious living areas, open kitchen concept with a large island and new SS appliances (2024). The oasis backyard includes a heated pool and spa, and backs to a greenbelt. This home also features a 3-car AC'd garage that includes a 220V, 27 ton hydraulic system. With a New roof (2023), New HVAC (2022), New Tankless Water Heater (2022) and water filtration throughout the home, this place has it all. The property is centrally located near the 202 freeway, Chandler Fashion Center, Hospitals, A+ Chandler Schools, Restaurants, and Much, Much More, putting you in the heart of everything Chandler has to offer.

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451 E Cascada Road Litchfield Park, AZ 85340

$614,900

5 Beds

2 Baths

2,016 SqFt

Status Active Under Contract

MLS # 6710424

Property Type Single Family Residence

Price Type --

NEW LOWER PRICE! In ''The Park'' in Litchfield Park, a beautiful, remodeled residence featuring 5 spacious bedrooms. The inviting living room, complete with wood-look floors and neutral colors, it sets a welcoming tone. Create memories in the cozy family room. Galley kitchen is a chef's delight, boasting a tray ceiling, mosaic tile backsplash, stainless steel appliances, granite counters, recessed lighting, and beautiful white cabinets. Enjoy calm nights in the main bedroom which includes plush carpeting, direct backyard access, and a private bathroom with dual sinks and a walk-in closet. A backyard for relaxation and entertaining, featuring a covered patio, attached Ramada, a storage shed, and ample space for lively barbecues. With no HOA this home is a true gem, ready to be yours

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17728 N Deer Trail Maricopa, AZ 85139

$614,500

4 Beds

3 Baths

1,940 SqFt

Status Active

MLS # 6735874

Property Type Manufactured Home

Price Type --

This 2.49 acre property in Hidden Valley has it all! This gorgeous MOVE-IN READY home is just over 1900 sq ft. Western style property inside and out! The home features 4 bedrooms and 3 full bathrooms, and formal dining. Split floor plan with the main bedroom opening to an en-suite bathroom. Full length parking stalls along the side of the home. The property has a fully finished workshop & chicken coop equipped with a misting system. No HOA, shared well, fully fenced with GORGEOUS MOUNTAIN VIEWS and only minutes from city amenities! Bring your horses & make this home yours today. Truly a must see!

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9122 W Circle Drive Strawberry, AZ 85544

$614,000

3 Beds

2 Baths

2,027 SqFt

Status Active

MLS # 6703166

Property Type Single Family Residence

Price Type --

Nestled on a secluded 0.40 acre lot, this private home boasts a spacious 2027 sq ft of living space. As you step inside, you are welcomed with a generous great room adorned with cathedral ceilings and a warming gas fireplace, offering a cozy ambiance for gathering or quiet evenings in. The allure of outdoor living is evident with covered back deck overlooking a sprawling yard, providing a perfect setting for outdoor dining, sitting around the fire pit or simply soaking up nature's beauty. Upstairs is a sizable primary bedroom which provides a tranquil sanctuary, vehicle an open loft area offers versatility for various lifestyle needs. This is horse property with two stalls. The 2-car garage has a full attic making for ample storage.

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11255 E Utah Avenue Mesa, AZ 85212

$614,000

4 Beds

3.5 Baths

2,623 SqFt

Status Active

MLS # 6712922

Property Type Single Family Residence

Price Type --

Don't miss this quick move-in home. Stunning 4 bedroom home with Den and 3.5 baths. Occupied less than 6 months. Includes appliances, window treatments, cabinet hardware, RO water. Gourmet kitchen includes quartz countertops, 42'' white shaker cabinets and stainless steel appliances with gas cooktop, hood, wall oven and built in microwave. Spa like master bath with separate tub and shower. Tile floors in all the main areas, carpet only in bedrooms. 10' Ceilings with 8' interior doors. 4 1/4' baseboards, paver drive, walkway, and patio. Energy star home for comfort and energy efficiency. Quick move-in and seller willing to offer concessions to assist with closing fees and or buy down rates with reasonable offer. Seller says bring all reasonable offers.

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7835 E Palm Lane Scottsdale, AZ 85257

$614,000

3 Beds

2 Baths

1,275 SqFt

Status Active

MLS # 6722857

Property Type Single Family Residence

Price Type --

Newly remodeled house in prime Old Town Scottsdale location with a pool & no HOA! Fall in love with the brand new luxury vinyl floors throughout, new blinds, new paint and so much more. Kitchen is complete with new appliances, quartz countertops and island. Bathrooms were updated with new vanities, lights, mirrors, upgraded plumbing etc. Enjoy the big backyard with covered patio, grass area and diving pool with new pump & new tank with glass filter. Roof was replaced in 2020!

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1311 S Ponderosa Drive Gilbert, AZ 85296

$614,000

4 Beds

2.5 Baths

2,731 SqFt

Status Active

MLS # 6738445

Property Type Single Family Residence

Price Type --

Higley Park is Gilbert living at its finest. Your Children get the best education, a community splash pad and swimming pool. You get the finest in restaurants, nightlife, shopping at Epicenter and the San Tan Mall. All of this in a safe clean centrally located community with great highway access and an easy commute to anywhere. This home has a unique floorplan downstairs where the 2 smaller rooms have been turned into one great room that makes the home feel much larger. Recent upgrades include. All new backyard with synthetic grass 2023, Interior paint and carpet 2023, Travertine in Master bath 2023, New light fixtures and ceiling fans 2023, new hot water heater 2021, 2 new high end A.C. units 2020.

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4039 E Paradise Drive Phoenix, AZ 85028

$614,000

3 Beds

2 Baths

1,853 SqFt

Status Active

MLS # 6711391

Property Type Single Family Residence

Price Type --

Sensational proximity to golf, swimming, spa, tennis, pickleball, fine dining, upscale shopping, and easy freeway access behind a 24/7 guarded community. Spacious 3 bdrms/2 bths patio home with soaring ceilings, corner fireplace, fabulous sunlight, and ample storage. Ideal floor plan for home office/library/guest room or all three—why choose when you really can have it all. Two car garage plus off-street pad. HOA serviced grass front yard with super private backyard. City park at community entrance ideal for family visits. Conscientiously maintained by only two owners since construction, this home awaits your flair and is priced for a quick sale given its square footage and premium location.

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3464 E Tulsa Street Gilbert, AZ 85295

$613,000

3 Beds

2.5 Baths

2,708 SqFt

Status Active

MLS # 6736007

Property Type Single Family Residence

Price Type --

Welcome Home! This stunning 3-bedroom residence features 2 versatile flex spaces that can serve as an office, additional bedroom, or game room, catering to all your needs. The open-concept layout enhances the sense of space and entertaining.The kitchen has been updated with gorgeous finishes, offering a elegant and functional cooking environment. Impressive Custom closets throughout the home provide ample storage. Enjoy the comfort of brand-new flooring that runs seamlessly through the first floor, adding a touch of elegance and easy maintenance. Step outside to the backyard, an inviting space for family gatherings, playtime, or relaxation. Located just steps away from the park and adjacent to the Greenbelt, this home offers added privacy and the convenience of nearby recreational ame The upgrades include high and flooring and countertops to add a touch of luxury and sophistication. The flooring is both elegant and durable, which perfectly complement the premium countertops. Custom California closets provide not only asleep in modern look, but also exceptional organization and starch solution. Together these high-quality upgrades, enhance the homes, overall appeal and functionality that truly elevate your home.

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27967 N Limestone Lane San Tan Valley, AZ 85143

$613,000

6 Beds

4 Baths

3,751 SqFt

Status Active

MLS # 6731914

Property Type Single Family Residence

Price Type --

Price Improvement, recently appraised at new list price! Discover your dream home with a breathtaking backyard oasis, complete with picturesque mountain views and no rear neighbors, ensuring your privacy. This immaculate 6-bedroom, 4-full bath residence is set on a generous 1/3-acre lot. The outdoor haven features a dive pool, with vibrant LED color lighting, perfect for year-round enjoyment, thanks to the Jandy Pro Series heating and cooling pump. Relax under the pergola and take in the serene landscape. 2nd floor has 5 oversized beds & 3 full baths PLUS LOFT. Saves on utilities. Recent updates include remodeled bathrooms in 2023 and a kitchen remodel in 2024, including a secondary island install! This home is sure to be one you will love for years to come! Inside, the first floor offers a versatile layout with a bedroom and full bath, including a therapy tub/spa for ultimate relaxation. Entertain in the formal living and dining rooms, or gather in the cozy family room. The 2024 kitchen remodel featuring a double island and walk in pantry are a chef's delight. Conveniently, the laundry room is also located on this level. Ascend to the second floor, where you'll find five additional bedrooms, three full baths, and a loft area, providing ample space for family and guests. The oversized master suite is a true retreat, capable of accommodating any sized furniture, and offers stunning backyard and mountain views. The luxurious master bath features a walk-in shower, double sinks, and an expansive walk-in closet. This home has seen some recent upgrades including a 2024 kitchen remodel as well as 2023 Bathroom Remodels. Don't miss the opportunity to own this exceptional property, where luxury and comfort blend seamlessly with beautiful natural surroundings.

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10418 S 46th Way Phoenix, AZ 85044

$612,000

3 Beds

2 Baths

1,856 SqFt

Status Active Under Contract

MLS # 6752148

Property Type Single Family Residence

Price Type --

Gorgeous Spanish-style Cul de sac home awaits your visit! This home is best described as being elegant, yet very comfortable. It has mountain views, walking distance to South Mountain trails & the park!! The 3rd bedroom was converted into a large walk-in closet but can easily be converted back. From the moment you enter this home You'll see natural light from the large windows and from the skylights! You can relax in the family room next to the electric fireplace or read a book in the living room. Seller has spent around 40K on new high end Anderson windows and remote-controlled skylights! Primary bedroom is large with windows facing the pool, which gives you a resort feeling! Adjacent to the primary bedroom and separated by a rustic barn door, there is a large walking closet. Continued All appliances are top of the line and less than 4 yrs old. The house was stucco-ed and freshly painted in 2021. The new patio door welcomes you to a huge backyard oasis with the pool and well-maintained desert garden!! Don't forget to see the list of upgrades! This is a very unique, wonderful home that has been loved and cared for!!Come see it today!!! Buyer to verify all the info in the MLS.

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