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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20637 W Rancho Drive Buckeye, AZ 85396

$599,590

2 Beds

2 Baths

1,528 SqFt

Status Active

MLS # 6753670

Property Type Single Family Residence

Price Type --

Ready for move in by end of year!! Experience the epitome of Mountainside living with our Turnberry design. A welcoming open courtyard offers stunning views of the White Tank Mountains and year-round sunsets. Welcome to your new oasis! This 1,528 sq. ft. single-story stunner features 2 bedrooms and 2 bathrooms of pure luxury. Experience top-tier comfort with spray foam insulation, while recessed LED lighting casts a modern glow throughout. The impressive 12' sliding glass wall effortlessly merges indoor and outdoor living, and 8' doors paired with 10' ceilings create an open, airy atmosphere. Complete with a paver driveway and walkway, this home combines sleek design with sophisticated functionality. Your perfect blend of elegance and practicality awaits!

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17149 N Stonebluff Road Maricopa, AZ 85139

$599,500

3 Beds

2 Baths

1,922 SqFt

Status Active

MLS # 6666798

Property Type Manufactured Home

Price Type --

Looking for a brand NEW home with more land than you can dream of?? This stunning new Champion Home is set on 4.55 acres, nestled off a paved road with expansive land ready for any buyer to build their dream on! This spacious 3-bedroom, 2-bathroom home has more than enough room to entertain and make unforgettable memories. This property has stunning mountain views with unforgettable Arizona sunsets. No HOA restrictions ensures freedom, complemented by a solar gate securing the property's front entrance. The newly built 30x35 foot enclosed shop with concrete floor and convenient gravel driveway offers ample space for projects and storage. Don't miss out on this exceptional property!

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807 Co Rd 3144 -- Vernon, AZ 85940

$599,500

3 Beds

2 Baths

2,300 SqFt

Status Active

MLS # 6699527

Property Type Single Family Residence

Price Type --

This beautiful horse property offers breathtaking views and a range of amenities for horse enthusiasts. This property is less than a mile off the main hwy with paved access all the way. The property includes a well-maintained barn with two horse stalls, a tack room, storage room and an arena for training and riding. The spacious two-acre parcel is fully fenced and crossed fenced, providing a safe and secure environment for the horses and any other pets. Access to the property is through a gated entrance with a charming, treed circle driveway. The main residence is a spacious three-bedroom, two-bathroom home, featuring a wood burning stove, and a large master suite with two additional rooms off the master that can be used as a nursery, home gym, or office. The home boasts a large dining room and a back covered porch, both of which offer stunning views of the surrounding landscape. Whether you are a horse enthusiast or simply appreciate the beauty of nature, this property is sure to impress. Schedule your showing today.

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1065 W Road 2 -- Chino Valley, AZ 86323

$599,500

3 Beds

2 Baths

2,305 SqFt

Status Active

MLS # 6738551

Property Type Manufactured Home

Price Type --

Welcome to your own slice of heaven. This gorgeous fully fenced 2.5 acre corner lot is what your dreams are made of ! Freshly painted home is 2300' of complete luxury with a country charm. Upgraded carpet and flooring throughout, new SS appliances, stunning quartz countertops w/ large island, insta hot, central vacuum, new heat pump A/C. Upgraded insulation pkg., Property has good producing well with filtration system, landscaped yard with rear yard fencing and oversized 3car garage w/ automatic gate access and concrete driveway. Bring your animals and your toys ! you don't want to miss this one. 10k in Seller concessions available.

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2800 N Saddleback Way Unit 2 Flagstaff, AZ 86004

$599,500

2 Beds

2.5 Baths

1,905 SqFt

Status Active

MLS # 6729831

Property Type Townhouse

Price Type --

Move in ready townhome is available for you in the ever desirable Continental Country Club. Situated within the Saddleback Lodges community this property is just a few short minutes walk to the club house, #1 tee box and the always popular Oakmont restaurant. Also available withing the community is Bear Paw where you can find a heated pool, snack bar, gaming consoles and other family friendly activities. Inside the home you will be welcomed by soaring T&G ceilings, a gas fireplace, breakfast bar and A/C. An upstairs loft provides the perfect space for a second living area, game room or office space. The primary bedroom has dual sinks, a walk-in tiled shower and filtered golf course views. Outside the community the picturesque Walnut Canyon hiking trails are just a short drive away.

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1814 N Miller Road Scottsdale, AZ 85257

$599,500

3 Beds

3 Baths

1,482 SqFt

Status Active

MLS # 6749537

Property Type Single Family Residence

Price Type --

Scottsdale for $599,500!! Home has a pool house / casita with shower & commode. Wonderful opportunity for additional rental income. (Home 1482 sq. Ft. + Casita 240 sq. ft. = 1722 livable sq. footage as shown on the Maricopa tax) Sparkling pool, The following items have been replaced in (2023) AC unit, Stove, Refrigerator, Washer & Dryer, Water Heater, fans & lighting), (2022) Plantation Shutters. (2020) Casita Painted & flooring.

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156 E Leverenz Avenue San Tan Valley, AZ 85140

$599,500

2 Beds

2 Baths

1,770 SqFt

Status Active

MLS # 6734411

Property Type Single Family Residence

Price Type --

This two-bedroom, two-bath home, plus DEN, offers everything you could want in a gated community. The community provides incredible amenities, including TWO resort clubs, pools, restaurants, golfing, and a variety of activities, athletics, and classes. The kitchen boasts ample space with granite countertops, perfect for cooking and entertaining. Adjacent to the kitchen, the utility room includes a washer and dryer, with additional space that can be used as a workroom or for extra storage. The garage also features built-in cabinets for even more storage options. The large, covered patio provides plenty of space to relax or barbecue while enjoying beautiful Arizona sunsets. Experience comfort and convenience in this wonderful home and the vibrant community. *One year warranty included.

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1110 E Phoenix Street Payson, AZ 85541

$599,500

4 Beds

3 Baths

2,044 SqFt

Status Active

MLS # 6711716

Property Type Single Family Residence

Price Type --

Beautiful one of a kind custom built 4 bedroom home in the highly desirable Rim View Heights Estates. Perfect for full time living or for a family getaway - there is plenty of room for everyone! It has a Great Room concept with vaulted ceilings, there is a family room as well as a formal living room. One bathroom has a walk in tub with jacuzzi jets. The home boasts 2 en-suite bedrooms with bathrooms. There is a large deck and patio to sit and enjoy the cool mountain evenings. Tall pine trees on the lot and wonderful views. Come see the brand new flooring throughout the entire house! The roof is only 5 years old. This is a lot of house for the money!

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1701 W Encanto Boulevard Phoenix, AZ 85007

$599,500

3 Beds

2 Baths

1,163 SqFt

Status Active

MLS # 6748301

Property Type Single Family Residence

Price Type --

***Charming Historic District Gem - Fully Remodeled*** Located in a picturesque historic district, this fully remodeled 2-bed, 1-bath home seamlessly blends vintage charm with modern upgrades. The attached 1-bed, 1-bath unit with a private entrance offers versatile living options. The main residence features new luxury vinyl plank flooring, fresh interior/exterior paint, and a sleek, updated kitchen with stainless steel appliances, new countertops, and cabinets. Both bathrooms boast new vanities and tiled showers. Enjoy new landscaping, with pavers throughout the front and backyard, and a detached 2-car garage. Move-in ready with all the modern amenities you desire!

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2808 W Roosevelt Drive San Tan Valley, AZ 85144

$599,212

4 Beds

3 Baths

2,392 SqFt

Status Active

MLS # 6756188

Property Type Single Family Residence

Price Type --

Fall in love with this ranch-style residence now awaiting its new owners! Discover the charm of the incredible interior, boasting a formal living room and a captivating open layout. You'll love its high ceilings, trending palette, decorative ceiling fan, lovely light chandelier, graceful archways, and sleek wood-plank tile flooring. The gourmet kitchen is fully equipped with granite counters, recessed & pendant lighting, beautiful wood cabinetry with crown molding, a walk-in pantry, and an island with a breakfast bar. Romantic main retreat has soft carpeting, a full ensuite, and a walk-in closet. The large backyard is great for outdoor gatherings and relaxation and comes with a covered patio, artificial turf, and a children's playground. Don't miss out!

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286 E Citrus Hollow Way Queen Creek, AZ 85140

$599,132

2 Beds

2.5 Baths

1,678 SqFt

Status Active

MLS # 6644003

Property Type Townhouse

Price Type --

Welcome to a brand new Valletta model. It has an expansive layout and this home is illuminated by an abundance of natural light. The kitchen stands fully equipped with modern stainless steel appliances and elegant granite countertops. With a culinary connoisseur's dream at its heart, including a gas cooktop, it's an ideal setting for hosting and delighting your guests. Both bathrooms have undergone exquisite upgrades, featuring tile surrounds and elevated fixtures. A few upgrades include quartz countertops at kitchen and bathrooms, huge sliding door at patio, gourmet kitchen appliances and a large smart space. Start living the good life at Encanterra today!

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23851 W Tether Trail Surprise, AZ 85387

$599,000

4 Beds

3 Baths

2,432 SqFt

Status Active

MLS # 6741026

Property Type Manufactured Home

Price Type --

Over 4 Acres of Horse Property with NO HOA. This beautiful home features a spacious floor plan with 4 bedrooms + den, 3 baths, (jack n jill bed/bath), front room, living room (with built in mini bar), dining room, & large kitchen with a sky light, lots of cabinets and an island. The master bath has separate shower and jetted soaking garden tub and double sinks. The den has a dual entrance to front room and the master bedroom (great for a private office or workout room) Also a detached 3 car garage and RV gate. Bring your horses, toys & RV's. 3 sheds out back by the covered horse stalls that are staying with the property. Enjoy country living and amazing views. This sale consists of 2 lots each is aprx 2 acres. Each lot has a share in the shared well. Don't miss out on this one.

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