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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987 W Treasure Trail Apache Junction, AZ 85120

$605,990

4 Beds

2.5 Baths

2,468 SqFt

Status Active

MLS # 6739270

Property Type Single Family Residence

Price Type --

Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created.

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20427 W Mountain Sage Drive Buckeye, AZ 85326

$605,000

4 Beds

2 Baths

2,302 SqFt

Status Active

MLS # 6468752

Property Type Single Family Residence

Price Type --

Lovely Ranch home located on 1.21 acres and surrounded by beautiful Mountain Views. 4 bedroom and 2-bathroom, Split floorplan. Open kitchen, Granite counter tops, and stainless-steel appliances in kitchen . Enjoy Mountain Views and wide-open spaces from you kitchen table. 9 foot ceilings . Horses privileges. There is a shared well. NO HOA! Bring all the toys and horses.

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20411 W Mountain Sage Drive Buckeye, AZ 85326

$605,000

4 Beds

2 Baths

2,302 SqFt

Status Active

MLS # 6519609

Property Type Single Family Residence

Price Type --

New 4-bedroom, 2-bathroom Ranch home on 1.21 acres with beautiful mountain views, open kitchen, granite countertops, and stainless-steel appliances. The home features 9-foot ceilings and a split floor plan. Horses are allowed, and there is no HOA. The property has access to a shared well.

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20435 W Mountain Sage Drive Buckeye, AZ 85326

$605,000

4 Beds

2 Baths

2,302 SqFt

Status Active

MLS # 6468712

Property Type Single Family Residence

Price Type --

Lovely Ranch home located on 1.21 acres and surrounded by beautiful Mountain Views. 4 bedroom and 2-bathroom, Split floorplan. Open kitchen, Granite counter tops, and stainless-steel appliances in kitchen . Enjoy Mountain Views and wide-open spaces from you kitchen table. 9 foot ceilings . Horses privileges. There is a shared well. NO HOA! Bring all the toys and horses.

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20419 W Mountain Sage Drive Buckeye, AZ 85326

$605,000

4 Beds

2 Baths

2,302 SqFt

Status Active

MLS # 6519611

Property Type Single Family Residence

Price Type --

2023 BRAND NEW HOME! This beautiful 4 bedroom / 2 bath is on 1.2 acres of land with NO HOA! The home features an open floorplan stainless-steel appliance, large pantry, a split double vanity in the primary master with additional closet space. Large, covered patio to enjoy the mountain views with plenty of space for your RV and toys on 1.2 acres! This lot provides endless opportunities for your own landscape/design. Please contact with any questions!

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302 W Oak Avenue Unit 2 Flagstaff, AZ 86001

$605,000

2 Beds

2.5 Baths

1,098 SqFt

Status Active

MLS # 6733260

Property Type Single Family Residence

Price Type --

TO BE BUILT...Welcome to modern living in the heart of Flagstaff - a collection of contemporary detached homes that redefine luxury and convenience. Nestled against the backdrop of the stunning mountains, step into a world where architectural brilliance meets nature's beauty. The community boasts a sleek and contemporary design that seamlessly integrates with the natural surroundings. Plentiful glass allows ample natural light to flood the interiors, creating a harmonious blend of indoor and outdoor living. Clean lines, high ceilings, and thoughtfully designed spaces provide an open and airy atmosphere making each home a sanctuary of modern sophistication. Wake up to the awe-inspiring sight of the mountains right outside your window (Select Lots Only).

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31642 N 169th Avenue Surprise, AZ 85387

$605,000

3 Beds

2.5 Baths

2,041 SqFt

Status Active

MLS # 6755049

Property Type Single Family Residence

Price Type --

Welcome to 31642 N 169th Ave, a beautifully maintained 3-bedroom, 2.5-bathroom home nestled on a spacious 1.13-acre lot. This 2,050 square foot residence offers a perfect blend of rural tranquility and modern convenience. Step inside to find a bright and open floor plan, featuring a large living area, a well-appointed kitchen with ample counter space, and a cozy dining area perfect for family gatherings. The primary suite is a true retreat with an ensuite bathroom, while the two additional bedrooms offer plenty of space for guests or an added home office. Outside, the expansive lot provides endless opportunities for outdoor living, whether you dream of creating a garden oasis, adding a pool, or simply enjoying the Arizona sunsets from your patio. The The property also offers ample room for parking RVs, boats, or other recreational vehicles. Located just minutes from local attractions like Willow Winery, where you can enjoy tastings and scenic vineyard views, and a short drive to shopping, dining, and entertainment options in Surprise, this home is perfectly situated for those seeking a peaceful lifestyle without sacrificing convenience. Don't miss the opportunity to make this charming property your own!

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17362 W Lincoln Street Goodyear, AZ 85338

$605,000

5 Beds

3 Baths

3,667 SqFt

Status Active

MLS # 6741341

Property Type Single Family Residence

Price Type --

Motivated Seller, Make Offer! This gorgeous home features PAID SOLAR which saves you thousands a year! This gem is situated on a quiet street, boasts a 3-car garage & low-maintenance desert landscaping. Interior welcomes you with a grand entrance, soaring ceilings, an inviting living room, and a formal dining room perfect for special occasions. Open-concept kitchen is a culinary delight with a plethora of cabinets, Stainless Steel appliances, granite counters, a prep island, recessed lighting, a breakfast bar, and a breakfast nook. Upstairs, the huge master bedroom will take your breathe away. For guests you have a separate staircase with guest suite. The backyard is an entertainer's dream, showcasing a covered patio, refreshing pool and a Putting Green for FUN, FUN, FUN

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3677 E Park Avenue Gilbert, AZ 85234

$605,000

3 Beds

2 Baths

1,450 SqFt

Status Active

MLS # 6757367

Property Type Single Family Residence

Price Type --

Welcome to this stunning home in the highly desirable Gilbert neighborhood of Higley Groves! Nestled on a lush tree-lined street across from the local school, this home offers both charm and convenience. Inside, you'll find a beautifully upgraded kitchen with quartz countertops, new stainless steel appliances, a stylish farm sink, abalone backsplash, and refinished cabinets with new hardware. The master suite features double sinks and a walk-in shower, while upgraded tile flooring throughout, 5-inch baseboards, and fresh paint enhance the modern feel throughout the home. New ceiling fans with remotes are hung in every room. Garage floors have beautiful epoxy finish. Wood shelving in garage will convey, however, wood workstation will not convey. Step outside to your backyard oasis with new pavers, a sparkling pool, and a heated Jacuzzi perfect for relaxing or entertaining. Both the pool pump and spa heater were replaced within the last year for worry-free enjoyment. The front courtyard, also with new pavers, offers an inviting space to unwind. Additional newly poured concrete slab in the driveway offers extended parking to the future homeowner. Blackout sunscreens on the windows provide relief from the beautiful Arizona sun when enjoying the calm interior of your new home. This low-maintenance home is ready for you to move in and enjoy! TVs and TV mounts do not convey.

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2042 N Canelo Hills Mesa, AZ 85207

$605,000

2 Beds

2.5 Baths

1,741 SqFt

Status Active

MLS # 6676963

Property Type Single Family Residence

Price Type --

**SELLER OFFERING $3,000 in SELLER CONCESSIONS to be used towards any acceptable transaction needs** Fall in LOVE with this beautiful home in the desirable Sanctuary at Mountain Bridge! Nestled on a corner, it displays a desert landscape and a 2-car garage w/paver driveway. With an inviting open layout paired with plantation shutters, recessed lighting, neutral paint, and wood-look tile flooring in common areas. The gourmet kitchen boasts SS appliances that convey, granite counters, tile backsplash, staggered cabinetry w/crown molding, and a prep island w/breakfast bar. Washer and Dryer included as well! Berber carpet adds comfort to the bedrooms. Primary bedroom has an ensuite with dual vanities, sit-down shower, & a walk-in closet. Versatile den is great for an office. Out the back, you have artificial turf, well-laid pavers, and an extended covered patio. PLUS! NO neighbors behind & enjoy the mountain views!

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10605 E Tiburon Avenue Mesa, AZ 85212

$605,000

2 Beds

2 Baths

1,651 SqFt

Status Active

MLS # 6732794

Property Type Single Family Residence

Price Type --

MOTIVATED SELLERS HELPING YOU WITH PART OF YOUR CLOSING COSTS! This home has been lovingly customized with excellent taste. Located in the highly sought-after 55+ community of Encore at Eastmark in the East Valley. Before stepping inside, you'll be delighted by the freshness of the turf in its front yard and the charming porch where you can enjoy beautiful views, tranquility, and peace of this community. Inside the house, many features will enhance your comfort: the professionally custom-made furniture in the Master Bedroom's walk-in closet; the kitchen with quartz countertops, gas stove, stainless steel appliances, soft-close drawers and cabinets. Ample storage space available in the garage within the beautifully crafted custom closets; the sliding door to the backyard allows f spacious passage, beautifully covered by motorized screen shades. The elegantly bordered miniblinds, contemporary baseboards and enlarged to 8 doors are delicates touches that harmonize all the charm of this home. Ceiling fans with remote control, on-trend, in the bedrooms, living room, and backyard patio complete this pleasant and inviting interior ambiance. Upon reaching the backyard, you'll enjoy the covered patio that connects to a large wooden pergola. The turf and pavers in precise places add the finishing touches to this beautiful property. Don't miss the opportunity to become its owner.

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20021 W Pasadena Avenue Litchfield Park, AZ 85340

Open House

New

$605,000

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6753893

Property Type Single Family Residence

Price Type --

This is your chance to own a fantastic 3-bed, 2-bath horse property sits on an oversized lot! Its charm starts with a cozy front porch, 2 RV gates, & a 2-car garage w/extended driveway. Inviting interior features abundant natural light, high ceilings, a two-tone palette, and tile flooring w/soft carpet in bedrooms. You'll love the spacious open floor plan paired with French doors to the back! The impressive kitchen boasts SS appliances, granite counters, ample wood cabinetry, a pantry, recessed lighting, and an island w/breakfast bar. All bedrooms with walk-in closets! Main bedroom also has outdoor access and an ensuite with dual sinks & a separate tub/shower. HUGE! Unlimited potential can be explored in the backyard with a covered patio to relax. Enjoy beautiful mountain views! Just WOW!

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