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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769 W Citrus Way Chandler, AZ 85248

$599,900

3 Beds

2 Baths

1,979 SqFt

Status Active

MLS # 6738698

Property Type Single Family Residence

Price Type --

This fabulous residence nestled in the Fox Crossing Community is the one you've been looking for! Make yourself at home in the inviting interior showcasing a designer color palette, neutral tile flooring, and soft carpet in all the right places. The well-appointed kitchen boasts wood cabinetry adorned with crown moulding, sleek granite counters, matching built-in appliances, pendant lighting, a stylish mosaic backsplash, and a center island equipped with a breakfast bar. The serene main bedroom features private outdoor access, an immaculate ensuite with dual sinks, separate tub/shower, and a walk-in closet. Spend relaxing afternoons along with your loved ones in the charming backyard, offering a covered patio and an easy-care landscape! Don't let this home slip by!

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342 W Beechnut Place Chandler, AZ 85248

$599,900

2 Beds

2 Baths

2,304 SqFt

Status Active

MLS # 6758475

Property Type Single Family Residence

Price Type --

FRESH REMODEL!! NEW LVP FLOORING W/ 5'' BASEBOARDS, NEW ELEGANT LIGHTING & CEILING FANS, NEW EXT & INT DOOR HANDLES & LOCKS, NEW EXT & INT PAINT, NEW EPOXIED GARAGE FLOOR, 400 SQ FT BONUS ROOM WALK-IN SPA TUB. MUST SEE! This impeccably-maintained home has just been beautifully & thoughtfully remodeled by the original owner! The stunning neutral palette creates the perfect backdrop for your personal style & decor. Situated on an expansive, private corner lot within the secure, fully-gated community of Ironwood, this highly-desirable Palmera model has an open, split-bedroom floor plan w/custom expansions - enlarged 2nd bedroom w/bay window; extended garage length w/ample storage cabinets & new epoxied floor; 400sf bonus room (w/brand new carpet & separate heating & AC), perfect for crafts, fitness, or a game/entertainment room! Time for that pool table & bar you've always wanted! The kitchen has exquisite maple cabinets, new waterfall faucet, induction cooktop (2023) & newer incl SS appliances. Large laundry room w/lots of cabinets & a built-in desk & ironing board; newer W/D incl. Both bathrooms were updated in 2022 w/new sinks, countertops, faucets, & a luxurious deep walk-in spa tub w/hydro jets & air bubble system in 2nd bathroom; new dual-flush toilets (2024). The professionally-designed & maintained landscaping incl prolific grapefruit, orange & lemon trees & a patio area w/pergola. New water heater, Dec 2023; new HVAC, 2017. Block construction & gas heat; low utility bills, avg $112 elec/$50 gas per month. IronOaks offers an active & social community featuring golf, tennis, pickleball, fitness center, pools, great restaurants and MUCH MORE! DON'T MISS OUT on calling this spectacular one-of-a-kind beauty HOME! Visit & experience the vision this home offers of peaceful private times, along with enough space for large gatherings of family & friends! BOOK A PRIVATE TOUR TODAY!!

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4638 W Hayward Avenue Glendale, AZ 85301

$599,900

5 Beds

3 Baths

2,483 SqFt

Status Active

MLS # 6735480

Property Type Single Family Residence

Price Type --

Stunning FIVE-bedroom remodeled home in Golden Palm Estates! Perfectly situated in almost half acre lot, this home boasts THREE fully remodeled bathrooms, white kitchen cabinetry, granite counters, stainless steel appliances, just painted interior, washer/dryer, gas fireplace, separate living & family room, updated tile flooring, fresh exterior paint, room for two RV gates, and a Sparkling POOL that is perfect for the Arizona summers and outdoor entertaining! At over 19,000 sq ft you will have plenty room for outdoor activities, gardening, or enjoying the fresh air. Don't miss out on this incredible opportunity to own a piece of Arizona paradise! Make your appointment today & make this house your dream home! This HOME QUALIFIES FOR A FIRST-TIME HOMEBUYER Grant and Down Payment Assistance!

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3457 Awatobi Ovi -- Flagstaff, AZ 86005

$599,900

4 Beds

3 Baths

2,160 SqFt

Status Active

MLS # 6733264

Property Type Single Family Residence

Price Type --

EXCELLENT PRICE seller wants this house SOLD! Escape to the serene beauty of Kachina Village with this charming 4-bedroom, 3-bathroom home that sits on nearly a 1/3 acre heavily treed lot. Nestled among the tall pines, this cozy retreat is a perfect blend of rustic charm and modern comfort. Step inside to discover a warm and inviting living space, complete with a wood stove. The kitchen features plenty of cabinetry and beautiful granite countertops. With 4 Bedrooms and 3 Bathrooms this home is perfect for accommodating family and guests. The heavily treed yard is a tranquil oasis offering a peaceful escape from the hustle and bustle of city life. Embrace the serenity of country living while still being just a short drive from local amenities and services. Reside here & enjoy Northern Arizona at its best!

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3554 N Hooper Street Buckeye, AZ 85396

$599,900

4 Beds

3 Baths

2,590 SqFt

Status Active

MLS # 6720288

Property Type Townhouse

Price Type --

Don't miss out on this deal. Buy now before prices go up with the new lower rates. Priced lower than all others in the community for this sqft. This elegant and upgraded 4 bedroom 3 bath home backs up to Hole #4 of Founder's Golf Course. Back gate to access the course whenever you see fit from your relaxing pergola covered back yard with outside fireplace. HOA takes care of the front yard (except court yard), has a community pool a short distance away. Phenomenal mountain views from your back yard and private balcony off of the owners suite, going back inside you will appreciate lots of kitchen cabinet storage and granite counter tops, small office space off the kitchen for those that work from home, cozy fireplace, bedroom or full office downstairs with full bath large laundry room with additional under stair storage, going upstairs is an additional 3 bedrooms and 2 baths, large owners suite and bath with very large walk in closet, tub in owners bath with window looking out over mountains, freshly painted on the interior about 1.5 years ago, large 2 car garage with extra height with dual storage racks, also could make a great winter home lock and leave style, or a vacation home to allow you to escape to Arizona, located in larger community of Verrado which is a very kid and animal friendly oriented community that has tons to do with pools, events on weekends, sidexside parades, firework show and yes of course golf. Come see Verrado and see what it has to offer.

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6728 Perkins Lane Show Low, AZ 85901

$599,900

3 Beds

2 Baths

1,827 SqFt

Status Active

MLS # 6681585

Property Type Single Family Residence

Price Type --

Brand new custom home on a 2+ acre lot. 3 bedrooms, 2 bathrooms with a second story loft. Gourmet kitchen features Quartz countertops, custom steel range hood, butcher block floating shelves and new stainless steel appliances. Electric fireplaces with reclaimed barn wood mantles at family room and master suite. Decorative wood beams. Central cooling and heating. Structural steel roof system with 2x6 wood framed walls. 25 year finish on the walls, roof with a 24 gauge standing seam roof with gutters and 26 steel gauge wall siding. 6inch foam insulated walls. Cascade dual pane windows. 12x25ft loft. 24x40x12 3 walled garage/carport being built. 2 RV dumps to the septic system. Stunning mountain getaway or a perfect mini-farm/ranch. You know what's nice about Showlow, in the summer it's 20 degrees cooler then the valley in the day and at night you can enjoy that cool mountain breeze while on your patio or in your bed. 7 highway miles to Showlow restaurants and shopping. 1/2 mile north to public lands for riding quads or horses. 5 minutes from prestigious Golf Clubs like Torreon Golf Club and Bison Golf Club. Elementary School and Fire Station just blocks away.

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3724 E Vest Avenue Gilbert, AZ 85295

$599,900

5 Beds

3 Baths

2,512 SqFt

Status Active

MLS # 6748533

Property Type Single Family Residence

Price Type --

The search is over! Welcome to this stunning residence featuring charming brick accents, PREMIUM lot, low-maintenance artificial turf, & a convenient rear-entry 3-car garage. New interior paint and brand new carpet in the bedrooms! The great room offers high ceilings, a soothing palette, and stylish wood-look planks. The gourmet kitchen comes with granite counters, ample white cabinetry with crown moulding, SS appliances, and an island with a breakfast bar for casual dining. The cozy loft provides a versatile space for relaxation or entertainment. The main bedroom includes plush carpeting, balcony access for a breath of fresh air, a walk-in closet, and an ensuite with dual sinks. Outside, the paver patio invites you to unwind or host memorable outdoor gatherings. This gem will sell fast!

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7039 E Virginia Avenue Scottsdale, AZ 85257

$599,900

3 Beds

2 Baths

980 SqFt

Status Active

MLS # 6730150

Property Type Single Family Residence

Price Type --

Don't miss this beautifully updated 3 bed, 2 bath home just minutes from Old Town Scottsdale! Eat-in kitchen offers stainless steel appliances, quartz counters, stylish tile backsplash & shaker cabinets. Primary suite includes an en suite bath & walk-in closet. Wood-look tile flooring, carpet in bedrooms, modern color & style, ceiling fans, updated bathrooms, light & bright, inside laundry and much more. Fully landscaped, fenced backyard boasts a spacious covered patio & RV gate. No HOA. Minutes from all Old Town Scottsdale has to offer and with EZ freeway access, this one is a must see!

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4121 E Ashurst Drive Phoenix, AZ 85048

$599,900

3 Beds

2 Baths

2,072 SqFt

Status Active

MLS # 6727129

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 3-bedroom + den, 2-bathroom home located in the heart of Ahwatukee with no HOA fees! This stunning home offers 2072 sqft of luxurious living space, boasts fantastic curb appeal with its landscaped yard, inviting front patio, and elegant stone exterior detail. Enjoy peace of mind and cool summers with new AC (2022), new dual pane windows throughout (2022), and new blown in attic insulation (2020). Step inside to find an inviting floor plan featuring a formal living and dining room, accented by wood-look tile flooring, stylish gray paint, white baseboards, and vaulted ceilings. The open main living area includes a family room with a charming brick fireplace, seamlessly connected to the kitchen. The kitchen is a chef's delight with an abundance of cabinetry, granite countertops, stainless steel appliances, new dishwasher (2023), pantry, and bay window dining area. Adjacent to the main living area is a spacious open den with direct access to the backyard. The primary suite is a private retreat with double door entry and an attached spa-like bath featuring a barn door entry, dual sink vanity, large walk-in tiled shower, soaking tub with tile surround, and dual walk-in closets. The secondary bedrooms are well-appointed with new carpet and ceiling fans. The backyard is your own private oasis with covered and extended concrete patios, a heated pool, low maintenance artificial turf, built-in BBQ, fenced side yards, and dimmable yard lighting to enhance the evening ambiance! Additional features include a laundry room with upper/lower cabinetry and a sink, a 3-car garage with extra storage/workspace, attached cabinetry, and a service door. *The pool fence has been removed but can easily be re-installed. Hot Tub is negotiable.

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29559 N Tarragona Drive Peoria, AZ 85383

$599,900

2 Beds

2 Baths

1,546 SqFt

Status Active

MLS # 6740829

Property Type Single Family Residence

Price Type --

Stunning Allure model - High ceilings, Open Floor Plan, Plantation Shutters & Consistent luxury vinyl plank Floors throughout. Gourmet kitchen has storage galore! Cabinets w/pullouts, granite, stainless appliances, RO system, Glazed subway tile & walk in pantry. Tranquil Spacious Master Bedroom W/sitting area overlooks beautiful backyard. Relaxing spa style master bath w/ Moen shower station, dual sinks, upgraded tile & large closet W/built in organizers/drawers! Large laundry room W/D & Container Store organizer system included. 2 Car Garage W/custom cabinets & sink, Professionally landscaped backyard is perfect for entertaining- Pavers, PVC irrigation, Covered Patio. Trilogy is an amazing gated active adult community that features 2 clubhouses, Golf, Fitness centers, Pools & more!

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7517 N 86th Avenue Glendale, AZ 85305

$599,900

5 Beds

2 Baths

2,628 SqFt

Status Active

MLS # 6718483

Property Type Single Family Residence

Price Type --

Immaculate Reconstructed Home, Fully Upgraded. Come and see this Beautiful Diamond in the heart of Glendale. About 2.7 miles from Cardinal Stadium. Gorgeous Tiled Bathroom Showers, New Bathroom Vanities with Marble Counter tops, New Tiled Floors in the right places, New carpet in the Bedrooms, 2 8x8 Feet Arcadia Doors, Electric Chimney, New Kitchen Cabinets with New Granite Counter Tops, Two New A/C units. New Trusses, New Tiled Roofing, New Insulation, New Drywall and Texture, New Baseboards, New Doors, New Garage Door. New Stainless Steel Kitchen Appliances. This is a Must see. Agents Bring Your Buyers, they will not be disappointed.

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16251 N 65th Place Scottsdale, AZ 85254

$599,900

3 Beds

2 Baths

1,248 SqFt

Status Active Under Contract

MLS # 6686994

Property Type Single Family Residence

Price Type --

NEW AC INSTALLED 8/2024! New roof installed approx 3 years ago. New dual pane windows installed 2017. Gorgeous kitchen with island breakfast bar, 42'' upper cabinets with crown molding, soft close doors/drawers and slideouts. Spacious floor plan with high vaulted ceilings. All the popcorn has been removed. This 3 bed, 2 bath home with 2-car garage is clean and move-in ready!! Nicely updated with tile in all the right places. Big backyard with large covered patio and nice paver sitting area. Big 8x16 wood storage shed. Located right down the street from Kierland Commons, Scottsdale Quarter, Desert Ridge and NO HOA!

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