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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2760 S Seton Avenue Gilbert, AZ 85295

$599,999

4 Beds

2.5 Baths

2,274 SqFt

Status Active

MLS # 6741953

Property Type Single Family Residence

Price Type --

This enchanting 4-bedroom home in the serene Chaparral Estates is the one for you! This home is sure to check all the boxes, boasting a 3 car garage, split floor plan, high ceilings and a corner lot! As you enter, the living room sets a warm ambiance for relaxation. Host festive meals in the formal dining area and make memories in the spacious great room.The kitchen features rich wood cabinets, built-in appliances, a pantry, expansive counters, and a center island with a breakfast bar. Retreat to the expansive main suite, accessible via double doors, featuring a private bath with dual sinks, a soaking tub, and a walk-in closet. Outside, the covered patio and lush grassy area offer a perfect setting for outdoor enjoyment. This home is truly a treasure, ideal for creating cherished moments! Recent updates include fresh interior paint, brand new carpet in all of the bedrooms, and 2 new AC units! Location is A+, walking distance to one of the schools, nearby the San Tan Village and Agritopia ! MUST SEE!!

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23866 N 72nd Place Scottsdale, AZ 85255

$599,999

3 Beds

2 Baths

1,346 SqFt

Status Active

MLS # 6740738

Property Type Single Family Residence

Price Type --

New Price! The best deal in North Scottsdale. Beautiful property located in the gated community of Los Portones . Updates include wood plank tile flooring, newer carpet in bedrooms, and newer paint inside and out. New roof in 2022 and comes with a warranty. Open floorplan. Large backyard with plenty of room for a pool. Located near world class golf, hiking, dining, shopping, and so much more. This property is a must see!

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2793 E Cobalt Street Chandler, AZ 85225

$599,999

3 Beds

3 Baths

2,114 SqFt

Status Active

MLS # 6732073

Property Type Single Family Residence

Price Type --

**Investors** This property is being offered with a 4 year lease in place. See attached forms for details. This breathtaking residence, built in 2007, boasts a flawless blend of luxury and comfort, nestled in a prime central location just steps from Chandler Traditional Academy and moments away from the vibrant Gilbert Heritage District. Featuring a unique floor plan with three bedrooms and three bathrooms, including two master suites perfectly positioned for privacy, this home elevates living to an art form. Enter through the grand foyer and be greeted by soaring ceilings and an inviting formal living and dining area that exudes sophistication. Continue to the gourmet kitchen, a culinary dream with double convection ovens, a 5-burner gas cooktop, exquisite upgraded cabinetry, and striking granite countertops. The kitchen seamlessly opens to an expansive family room, designed for gatherings and making memories. Step outside to a serene backyard with a covered patio, offering ample space for relaxation and entertainment amidst picturesque settings. Whether hosting lively gatherings or enjoying quiet evenings, this outdoor oasis caters to every occasion. Don't miss the opportunity to own this stunning home, where every detail is crafted for indulgence and functionality. Schedule your visit today and experience the allure of refined living!

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10535 W Country Club Trail Peoria, AZ 85383

$599,999

4 Beds

2.5 Baths

2,660 SqFt

Status Active

MLS # 6743955

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER! Gorgeous two-story home in Peoria! Lovely façade displays a 2-car garage, an RV gate on over a 1/4 of an acre lot with NO HOA. This home has a desirable open floor plan with abundant natural light and tile flooring. Well-appointed kitchen offers SS appliances, recessed & pendant lighting, ample white cabinets with crown moulding, a walk-in pantry, mosaic tile backsplash, a center island, and solid surface counters. In the main bedroom, you'll find plush carpet, a private ensuite with dual sinks, and a walk-in closet. Upstairs, the large loft is ideal for an office or additional lounging area. Out back, the home has a covered patio, gazebo, storage shed, artificial turf, and a detached workshop with power and AC!!! 50 YEAR METAL ROOF WITH WARRANTY AND ALL NEW WINDOWS!!!

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19206 N 39th Place Phoenix, AZ 85050

$599,999

4 Beds

2.5 Baths

2,216 SqFt

Status Active

MLS # 6747012

Property Type Single Family Residence

Price Type --

BIG PRICE DROP!! PERFECT FOR A BIG FAMILY!! Beautiful home with 4 bedrooms and 2.5 bathrooms located in the very desirable Trovare 2 community. Eat-in kitchen with granite Travertine floors and epoxy garage floor. NEW CARPET on the entire second floor! EXCELLENT location with many restaurants and nightlife within a 5 minute drive. Hospital within 5 minutes drive. Reach 11 walking paths within a few blocks. Grassy green areas a couple of blocks away from the house.

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8741 S 167th Drive Goodyear, AZ 85338

$599,999

3 Beds

2 Baths

2,030 SqFt

Status Active

MLS # 6718833

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the stunning Estrella Mountain Ranch master planned community! Nestled at the foothills of the Estrella Mountains, this immaculate Kendrick Model with a premium lot single-story residence boasts 3 bedrooms, 2 bathrooms, and an array of premium features. Key Features:

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23065 E Carriage Way Queen Creek, AZ 85142

$599,999

3 Beds

3 Baths

2,100 SqFt

Status Active

MLS # 6722618

Property Type Single Family Residence

Price Type --

Stunning Fulton home located in the highly desirable community of Barney Farms in Queen Creek! You'll love the open floor plan & 10 ft ceilings. The home boasts a modern open concept design & is loaded with luxurious features that are sure to impress. The kitchen features a huge island with granite countertops, a ton of counter space & storage, a gas stovetop & upgraded, smart appliances. The living area is both spacious & inviting, perfect for family gatherings or entertaining friends. The 16' wall of glass opens up to the backyard, creating a harmonious blend of indoor & outdoor living. Imagine the possibilities as natural light floods the space, making it feel bright & airy. The spacious owner's suite features a HUGE spa shower, double vanities & lots a counter space. Why wait to build when you can own an already established, gorgeous home like this one that's LESS than 2 years old?! In the community of Barney Farms, you'll enjoy access to fantastic community amenities, including parks, walking trails, the lake, pools, playgrounds & more. Plus, you're just minutes away from shopping, dining, & top-rated schools, making this the perfect place to call home.

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3532 E Pinot Noir Avenue Gilbert, AZ 85298

$599,999

4 Beds

2.5 Baths

2,290 SqFt

Status Active

MLS # 6728635

Property Type Single Family Residence

Price Type --

Location, Location, Location!!! Nestled in the prestigious Seville Golf & Country Club community, this exceptional home offers the best in lifestyle and amenities This 4-bedroom, 2.5-bathroom gem is ideally situated with a desirable north/south orientation and backs up to the soccer field at Riggs Elementary School, providing serene views and added privacy. The spacious open-concept floor plan boasts a large kitchen with ample cabinet space, perfect for culinary enthusiasts. The split Primary Bedroom offers generous space and features a luxurious custom walk-in shower. An additional room attached to the master suite can easily be converted into another bedroom, adding flexibility to the home's layout. The front room, equipped with built-in cabinets, is perfect for a home office, catering to modern work-from-home needs. Enjoy the low-maintenance backyard and the vibrant community that makes Seville an A+ choice. Don't miss out on this fantastic opportunity to own a home in the coveted Seville neighborhood in Gilbert. You won't be disappointed!

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23013 E Domingo Road Queen Creek, AZ 85142

$599,999

4 Beds

3.5 Baths

2,438 SqFt

Status Active

MLS # 6751518

Property Type Single Family Residence

Price Type --

Welcome to your dream home!This beautiful 2022-built is a corner lot with convenient access to the 24 Freeway and nearby shopping.The home offers 4 bedrooms,loft,flex room and 3.5 luxurious bathrooms.There is wood look tile flooring throughout the downstairs living areas.The kitchen offers recessed lighting, granite countertops and 42'' cabinetry.The master suite features a large walk-in shower, two walk in closets and executive height vanity with double sink.Additionally,there is a downstairs suite with full bath and walk-in closet.Solar panels, demand manager and sealed HVAC ducts ensure energy efficiency throughout the Arizona summers.With its contemporary design and thoughtful layout.A covered patio with expanded pavers leads out to turfed Back yd citrus trees built in garden beds

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5161 N Scottsdale Road Eloy, AZ 85131

$599,999

3 Beds

3 Baths

2,249 SqFt

Status Active

MLS # 6666215

Property Type Single Family Residence

Price Type --

Situated in the Robson Ranch golf course community, this CALABRIA model is perfect for anyone wanting a property w/ PRIVACY, SPACE & OUTDOOR OASIS! Private entrance w/ beautiful pond, CASITA & shaded courtyard w/ gas fireplace, a cozy space for hosting! Integra-Block construction, new A/C unit. Ext 4 ft. garage w/ built in cabinets & ample attic storage space. INTERIOR FEATURES: ext. bedroom nooks, plantation shutters, mood lighting, hardwood floors throughout den, hallways, living room. Neutral tiles & carpet throughout rest of house. Gas appliances. EXTERIOR FEATURES: Outdoor kitchen, misting system, separate screened in patio off master, hot tub, backyard gas firepits, pond w/footbridge, and for garden enthusiasts- separate garden enclosure area. Owner/agent Venture to the tranquil backyard, offering enclosed and covered patios, built-in BBQ, soothing pond, and a fire pit. What's not to like? Create new memories in this dream home!

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1224 E Loma Vista Drive Tempe, AZ 85282

$599,999

4 Beds

2 Baths

2,058 SqFt

Status Active

MLS # 6680904

Property Type Single Family Residence

Price Type --

This spacious single family home has 4 bedrooms providing ample space for relaxation and privacy. Newly remodeled gourmet kitchen features sleek concrete countertops that add a modern touch to the space. The primary bathroom suite has been luxuriously renovated, offering a walk-in shower equipped with invigorating body jets, a soaking tub. The secondary bathroom has been renovated to include a deep soaking tub and new fixtures. The north facing backyard features a newly resurfaced diving pool with new plumbing and new cool decking. In ground plumbing throughout entire house has been replaced. Back also has bonus private room attached to home that could be used as gym or game room. New eco friendly turf front and back with paved patio and walkway.

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10260 E White Feather Lane Unit 2048 Scottsdale, AZ 85262

$599,999

2 Beds

2 Baths

1,381 SqFt

Status Active

MLS # 6686232

Property Type Apartment

Price Type --

Welcome to your Desert retreat in the prestigious Troon North Community! This home features a Primary Bedroom with ensuite bath and walk in closet and second Bedroom with hall bathroom. The split floor plan provides comfort and privacy. The master community offers, Pickleball courts, Tennis courts and hiking trails within close proximity. Enjoy the Workout facility and Pool with Spa immediately within the gated community which consists of 100 units situated between the 1st and 9th fairways of the Monument Course at Troon North Golf Course. This home is the perfect lock and leave or full-time residence.

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