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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25424 S 199th Place Queen Creek, AZ 85142

$600,000

3 Beds

2 Baths

1,356 SqFt

Status Active

MLS # 6744874

Property Type Single Family Residence

Price Type --

A charming REMODELED 3 bed, 2 bath home nestled on a 1 acre lot and featuring a 2 car side garage and horse stall. Brand new ROOF. The interior boasts a spacious open floor plan w/vaulted ceilings, all new paint, wood look tile, and new baseboards. The fabulous kitchen is equipped w/ample cabinetry, a pantry, quartz counters, stainless steel appliances, and an island complete w/a breakfast bar. You'll love the primary bedroom, boasting a walk-in closet and a private ensuite w/dual sinks for added comfort.

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12520 E Crystal Forest -- Gold Canyon, AZ 85118

$600,000

4 Beds

3.5 Baths

2,464 SqFt

Status Active

MLS # 6756661

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful home in Peralta Canyon! Providing 4 beds, 3.5 baths, 2-car garage, & a low-care landscape. Just off the front entry is the versatile den! Continue onto the spacious open layout paired with elegant light fixtures, tile flooring, designer paint, abundant natural light, and multi-sliding doors to the back. The gourmet kitchen boasts sleek SS appliances, quartz counters, mosaic tile backsplash, ample espresso cabinetry, a walk-in pantry, and a prep island w/breakfast bar. Berber carpet in the bedrooms! Primary bedroom has an ensuite with two vanities & a walk-in closet. One other bedroom also includes its own bathroom. Discover the charming backyard, offering a covered patio, well-laid pavers, artificial turf, & a fireplace area w/built-in seats.

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11667 W Luxton Lane Avondale, AZ 85323

$600,000

4 Beds

3.5 Baths

2,937 SqFt

Status Active

MLS # 6741312

Property Type Single Family Residence

Price Type --

Stunning home w/TWO primary bedrooms on the 1st floor! Your gourmet kitchen is sure to delight with custom color cabinets, a 36'' gas cooktop & wall oven! Serving that gourmet meal is easy peasy on your oversized island w/quartz countertop. Plenty of storage: lg walk in pantry, 42'' upper cabinets & an extra storage closet. Exit through the expansive 16' slider to your landscaped backyard. Adorned with easy care turf & travertine/concrete pavers, this yard is low maintenance. Incl. are TWO gas stubs for a BBQ & a fire feature. Enjoy any one of the several neighborhood parks that are designed for entertaining & playing. Drive to ALAMAR PARK. Complete with fishing lake, ball fields, pickleball & outdoor workout area. ALAMAR: Where neighbors become friends & friends become family.

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7882 Stokes Lane Show Low, AZ 85901

$600,000

5 Beds

5 Baths

3,795 SqFt

Status Active

MLS # 6679734

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat in the cool, pine-filled landscape of Northern Arizona's Show Low area! Nestled on nearly 4 acres of serene land, this property offers a unique blend of spaciousness, versatility, and intricate details. This unique property boasts a main house, multiple shipping container buildings, oversized workshop RV garage, and RV parking with hookups. Enjoy bug-free patio spaces, 5 beds/5 baths, boasting with intricate details. Perfect for multigenerational visits and living, horse or animal/gardening enthusiasts. Lots of potential to make dreams happen. Shared well and optional lake access permit. Just 10 mins from shopping and dining. As is - Wholesale priced for immediate sale. Bring your vision, this is the property with endless possibilities you've been wanting!!

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10080 E Mountainview Lake Drive Unit 260 Scottsdale, AZ 85258

$600,000

2 Beds

2 Baths

1,298 SqFt

Status Active

MLS # 6695830

Property Type Apartment

Price Type --

Introducing an unparalleled opportunity to own a prime lakefront corner unit with breathtaking views of Lake Serena in the prestigious Scottsdale Ranch community. Rarely available, this sunlit sanctuary offers an idyllic retreat with unparalleled vistas. Indulge in leisurely moments on the north-facing balcony, where you can savor refreshments against the backdrop of stunning mountain views framing the serene lake. The recently renovated kitchen boasts brand-new features and high-quality appliances, ensuring both style and functionality. Whether you seek a primary residence, a luxurious vacation getaway, or a lucrative investment, this property is a true gem. Enjoy access to the exclusive amenities of Scottsdale Bay Club, including two pools, two spas, a fitness center, and a tranquil pond. Additionally, residents can partake in the vibrant social scene and amenities of Scottsdale Ranch, further enhancing the lifestyle experience. Stay tuned for professional photos and additional information coming soon! Don't miss your chance to make this extraordinary property yours!

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6670 W Pine Cone Trail Pine, AZ 85544

$600,000

3 Beds

2 Baths

1,845 SqFt

Status Active

MLS # 6722636

Property Type Single Family Residence

Price Type --

Gorgeous, newly built (2021) home on a half acre lot, nestled in the cool pines. This spacious home boasts an open floor plan with a large great room, kitchen, two bedrooms and bath downstairs while the primary bedroom and bathroom is upstairs with a private patio. Kitchen has top of the line appliances, granite countertops, beautiful backsplash, upgraded cabinets and a farmers sink. Wood tile planks throughout the home, no carpet. Beautiful sliding doors off the kitchen and great rooms offer amazing views of the lush forest. The home was constructed with James Hardie fiber-induced concrete siding which is fire resistant and has Milgard exterior windows and sliding doors. You won't want to miss seeing the amazing home.

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18624 W Lawrence Lane Waddell, AZ 85355

$600,000

5 Beds

3 Baths

2,722 SqFt

Status Active

MLS # 6709554

Property Type Single Family Residence

Price Type --

Better than new! Start enjoying your own private resort the day you take possession rather than waiting to find landscapers and pool companies, then suffer months through the noise, dust, and dirt of a new build... Just step right out into your own private oasis with pool, waterfall, fire pit, and a spacious, covered travertine patio. Facing north, there's no intense Arizona sunlight directly shining on you during the day, making for very pleasant occasions for coffee in the morning, or dinner with family or friends in the evening. The home is loaded with luxury-level finishes, giving you the sense of ease and sophistication. Five generously-sized bedrooms, and three full baths are just the beginning of where the great features of this home start.

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2603 S Playa -- Mesa, AZ 85202

$600,000

5 Beds

2.5 Baths

2,823 SqFt

Status Active

MLS # 6693884

Property Type Single Family Residence

Price Type --

Great home in a great location and in one of the best-known Mesa neighborhoods, Dobson Ranch. Located minutes from Mesa Community College, in a growing part of Mesa (bordering Tempe), with restaurants and shopping, including short travel times to Chandler Mall, Tempe Marketplace, and Arizona Mills. There is easy freeway access to 101, 202, and I-10 and to Sky Harbor and ASU as well as to free parking lots for light rail. Community features include pools (including a Junior Olympic pool), tennis courts, pickleball courts, lakes, walking paths, and community meeting rooms. The house itself is very spacious with a large backyard.

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13811 W Paso Trail Peoria, AZ 85383

$600,000

4 Beds

3 Baths

2,683 SqFt

Status Active

MLS # 6683165

Property Type Single Family Residence

Price Type --

Welcome to this spacious single level floor plan that has been lightly lived in. Tall ceilings & 8' doors amplify the open, light/bright feel. Pretty island kitchen with breakfast bar, clean stainless appliances - including a gas cooktop & attractive cabinetry. Oversized primary bedroom with separate shower is split from the supporting rooms. Separate den/office is across from Bedroom 2, which has a private bath & is distanced from bedrooms 3 & 4. The plantation shutters on every window look & feel new. Plenty of storage starts with a huge walk in pantry, large laundry room and carries on with two walk in closets (note the size of the primary!), deep supporting bedroom closets and a nice shed out back. The covered patio w/extensive pavers leads you to natural green grass & citrus trees.

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18003 N 135th Drive Sun City West, AZ 85375

$600,000

4 Beds

2 Baths

2,634 SqFt

Status Active

MLS # 6735710

Property Type Single Family Residence

Price Type --

Beautiful,completely remodeled 4 Bedroom/2 Bath home with paid off solar! All of the details have been thought through making it stylish, warm and functional. The home is perfect for entertaining or a quiet night by the cozy, electric fireplace. All work was permitted and completed by licensed, bonded, and insured contractors. New Wndows, Electrical, Plumbing, Fixtures, Paint, Flooring, ductwork, courtyard tile, Appliances and more. Roof was replaced in 2020 and HVAC in 2019. Enjoy all of the amenities that the 55+ Sun City West provides! The new owner(s) will be able to pick out a backsplash of their choice for the kitchen and it will be installed by close of escrow.

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2316 N Earle Drive Flagstaff, AZ 86004

$600,000

3 Beds

2.5 Baths

1,711 SqFt

Status Active

MLS # 6726104

Property Type Townhouse

Price Type --

It's the lock-and-leave golf course home you have been waiting for! This end unit townhome has a fantastic cul-de-sac location with an elevated view of the 17th fairway and green complex of Aspen Valley Golf Course and is the only duplex-style unit in the Elk Run Townhome community. Be welcomed into the open concept floorplan with open sightlines to the course from the front door and wood-look tile in all the right places. The spacious kitchen features plenty of counterspace and a breakfast bar for casual meals. The dining room is perfect for hosting family and friends. Enjoy the amazing views year-round from the living room complete with a gas fireplace, oversized sliding glass door and clerestory windows. The large deck is ideal for lounging or dining al fresco. Unwind after a long day in the master suite featuring a spa-like soaking tub, his & her sinks, and a private toilet room. Two additional bedrooms and guest bathroom are also upstairs. New exterior paint, attached single car garage and interior laundry are additional bonuses. All this and more located within Continental Country Club which features a community pool, tennis & pickleball courts, clubhouse with fitness center & The Oakmont restaurant, special events, discount of golf greens fees and much, much more! Come see this home today!

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17152 W Grant Street Goodyear, AZ 85338

$600,000

5 Beds

3 Baths

2,934 SqFt

Status Active

MLS # 6727655

Property Type Single Family Residence

Price Type --

Welcome to this stunning 5 bedroom, 3 bath, two-story home with energy-efficient solar, situated on a desirable N/S exposure lot in the welcoming community of Crestwood at Canyon Trails. Step inside to discover an inviting interior featuring a soothing neutral color palette and upgraded plank tile flooring throughout the main lower living areas. The welcoming formal dining room flows effortlessly into the gourmet kitchen, which offers stainless steel appliances, gorgeous granite countertops, a decorative tile backsplash, and a view window above the sink that floods the room with natural light. The desirable center island with a breakfast bar opens to the casual dining space and great room, where a cozy fireplace adds warmth and charm. From here, you have great access to the backyard oasis Step outside to the extended covered patio and admire the low-maintenance landscaping and ample space to entertain and dine alfresco, making it the perfect setting for gatherings with family and friends. This well-designed floor plan includes a guest bedroom downstairs, a private office with built-ins and a double door entry, and a guest bathroom, providing convenience and versatility. Upstairs, you'll find the primary bedroom featuring an ensuite full bathroom with dual sinks, a walk-in shower, separate soaking tub, private toilet, and a large walk-in closet. A spacious loft with distant views, a full guest bathroom, and three additional bedrooms complete the upper level, ensuring comfort and privacy for all residents. Don't miss this incredible opportunity to own a beautiful home in Crestwood at Canyon Trails!

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