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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

11 E Irene Street Pearce, AZ 85625

$599,000

3 Beds

2 Baths

2,384 SqFt

Status Active

MLS # 6743046

Property Type Single Family Residence

Price Type --

Approaching this beautiful, well maintained, Santa Fe style home sitting on 2.4 acres with fabulous views of the Dragoon Mountains, the first thing you will see are 18 pistachio tree. Entering the home you see a large great room from which you can walk out onto the covered patio with views of the Chiricahua Mountains. The large kitchen comes with granite countertops and an abundance of cabinet space. Step down into the main dining room featuring gorgeous Texas mesquite hardwood floors. The large main bedroom has an attached bath with walk in shower. This horse property includes a 48'x36' barn with 4 stalls, bathroom w/ shower and an additional 48'x12' of covered hay storage. The horse pasture is surrounded by electric fencing. Add to this a greenhouse with irrigation of sprinklers.

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13050 W Red Fox Road Peoria, AZ 85383

$599,000

2 Beds

2 Baths

1,813 SqFt

Status Active

MLS # 6746965

Property Type Single Family Residence

Price Type --

This REMODELED Solis is Luxury Living at its finest & doesn't disappoint! The lighted paver walk-way leads you to paradise! Step inside to IMPRESSIVE CUSTOM DESIGNER FINISHES. The Spacious Kitchen is a Show-Stopper w/ an atmosphere to inspire one to cook & entertain - WOLF RANGE w/ induction cooktop, CUSTOM HOOD VENT, RAISED-PANEL, FULL-OVERLAY Cabinetry w/ soft close drawers & doors, CUSTOM ISLAND design w/ tons of storage, Striking QUARTZ c-tops w/ impressive veining, CUSTOM BACKSPLASH & Under/Over Cabinet Lighting. Just off the Kitchen is a CUSTOM Bar area equipped w/ a Beverage Fridge. This OPEN-CONCEPT Floor Plan is extremely desirable & the GREAT ROOM features an ENTERTAINMENT WALL w/ ACCENT LIGHTING! Owner's Suite has access to the patio and The Spa-like Bath is Remarkable w/ DRAMATIC QUARTZ C-top & Gorgeous Tiled Shower. Guest Bath is Equipped w/ HIGH-END Finishes as well! Step outside to EXTENDED PAVER PATIO w/ PERGOLA & Built-in GAS BBQ. Additional upgrades: TRANE HVAC, Garage equipped w/ Epoxy & Cabinets, Den w/ Double Doors, private courtyard w/ pergola, Upgraded ANDERSEN SLIDERS, Speakers, ceiling fans, soft water & recirc pump CROWN MOLDING, Trash Enclosure, PVC irrigation lines and more!! This HOME is PRISTINE & checks the boxes on the wish list - take a look yourself - your dream home awaits you!

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13310 N 153rd Lane Surprise, AZ 85379

$599,000

5 Beds

3 Baths

2,588 SqFt

Status Active

MLS # 6753064

Property Type Single Family Residence

Price Type --

This stunning 5-bedroom, 3-bathroom home features 2 new AC units (2023), a tankless hot water heater (2023), and new front irrigation lines (2023). The split floor plan includes 2 ensuite bedrooms, perfect for guests or an in-law suite. Inside, the bright and airy kitchen offers ample counter space and storage. Outside, the drought-resistant backyard boasts a heated pool, spa and outdoor patio, ideal for gatherings. Located right across from a park and with access to a community pool, this home combines modern comfort with a prime location—don't miss out! **Please note - landscaping is in process and the fallen tree branches will be removed this week**

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12311 W Tigerseye Drive Sun City West, AZ 85375

$599,000

3 Beds

2 Baths

2,157 SqFt

Status Active

MLS # 6752337

Property Type Single Family Residence

Price Type --

Welcome to your Desert Oasis... Pride of ownership is definitely shown in this move in ready 3 bedroom 2 bath home with a retreat style backyard. The home has many updates in the kitchen, living room, formal dining/family room, bathrooms, flooring, Arizona room, pergola with 6 person hot tub, updated pool decking, and painted sidewalks. All major appliances included. Interior window shutters on all front windows and new mini spilt in the Arizona room. Don't miss this one of kind gem! Come see it today!

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4380 W Eagle Street Show Low, AZ 85901

$599,000

3 Beds

2 Baths

1,632 SqFt

Status Active

MLS # 6730924

Property Type Single Family Residence

Price Type --

Experience the beauty of White Mountain living in this furnished cabin located in the exclusive Eagle Mountain Estates. Built in 2020, this home showcases exceptional craftsmanship throughout its 3-bedroom, 2-bath layout. Set on a naturally landscaped lot with engineered drainage for peace of mind, this cabin offers oversized covered porches both in the front and back—ideal for taking in the serene surroundings and outdoor living year round. Inside, you'll find splendid features including granite countertops, custom cabinets, and elegant tile work. The vaulted ceilings add a sense of spaciousness to the home. Located in a peaceful, gated community, this cabin provides a perfect blend of tranquility and stylish amenities. Welcome home!

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10696 S 297th Avenue Palo Verde, AZ 85343

$599,000

4 Beds

3.5 Baths

2,312 SqFt

Status Active

MLS # 6759239

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning semi-custom residence spans over 2,300 sqft and is nestled on a generous 1-acre lot, free from HOA restrictions. Inside, you'll find a beautifully designed split floor plan featuring 4 spacious bedrooms and 3.5 baths. Each room offers direct bathroom access with premium showers, ensuring comfort and convenience for everyone. The gourmet kitchen is a chef's delight, equipped with SS appliances and elegant finishes. Step outside to enjoy the charm and privacy provided by the farm-style fencing. We warmly invite all buyers and buyer's agents to tour this remarkable property. Experience unmatched elegance and comfort!

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10684 S 297th Avenue Palo Verde, AZ 85343

$599,000

4 Beds

3.5 Baths

2,312 SqFt

Status Active

MLS # 6759238

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning semi-custom residence spans over 2,300 sqft and is nestled on a generous 1-acre lot, free from HOA restrictions. Inside, you'll find a beautifully designed split floor plan featuring 4 spacious bedrooms and 3.5 baths. Each room offers direct bathroom access with premium showers, ensuring comfort and convenience for everyone. The gourmet kitchen is a chef's delight, equipped with SS appliances and elegant finishes. Step outside to enjoy the charm and privacy provided by the farm-style fencing. We warmly invite all buyers and buyer's agents to tour this remarkable property. Experience unmatched elegance and comfort!

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16959 W Diana Avenue Waddell, AZ 85355

New

$599,000

4 Beds

3 Baths

3,017 SqFt

Status Active

MLS # 6760984

Property Type Single Family Residence

Price Type --

Within 10 minutes of shopping centers, entertainment, restaurants, and the Luke AFB main gate, this less than 2-year-old home is clothed in upgrades, from the completed backyard to the decorative touches, it offers the perfect combination of a new build and a home seasoned with upgrades. Complete with Reverse Osmosis at the kitchen sink, a whole house water filter, a whole house water softener, a whole house air purification system, and smart home features - including security, garage door opener, door locks, and A/C controls - this incredibly spacious home is ready for move-in. The chef's kitchen is the focal point of the home, upgraded with a double oven, a stand-alone cooktop, plenty of counter-top space, and an abundance of 42'' cabinetry. Owner is Real Estate Agent

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915 E Cobble Stone Drive Queen Creek, AZ 85140

$599,000

3 Beds

3 Baths

2,186 SqFt

Status Active

MLS # 6716595

Property Type Townhouse

Price Type --

Start enjoying Encanterra today! This spacious resort home is situated on a premium homesite overlooking a walking trail and stunning mountain views. This home offers a bright and open floorplan with 3 bedrooms, 3 bath, den and spacious loft. Step inside and you'll find upgraded tile plank flooring. The kitchen has beautiful maple cabinets and gorgeous quartz countertops and custom backsplash. All the bathrooms are upgraded with tile surrounds and upgraded fixtures. The garage is spotless with an epoxy finish, R/O and soft water system. The home is situated on a premium homesite and steps away from La Casa as well as the new Algarve, adult pool and restaurant. The Resort collection at Encanterra is perfect for the seasonal resident or year-round homeowner!

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10080 E Mountain View Lake Drive Unit 327 Scottsdale, AZ 85258

$599,000

2 Beds

2 Baths

1,152 SqFt

Status Active

MLS # 6749762

Property Type Apartment

Price Type --

Welcome to this Scottsdale Bay Club penthouse condo, recently renovated in 2024 with elegant quartz countertops, soft-close cabinets, sleek tile showers, and luxury vinyl flooring. This end unit offers privacy with no neighbors above and serene pool views from a private balcony. Enjoy direct access to the community pool, clubhouse, and gym. The gated community features a spa, fitness center, recreation room, Koi pond, and boat docks. Located next to Scottsdale Ranch Park, amenities include lighted tennis, racquetball, and sand volleyball courts, plus more. Close to Mercado Shopping Center and the 101 freeway.

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18427 W Pasadena Avenue Litchfield Park, AZ 85340

$599,000

4 Beds

3.5 Baths

2,842 SqFt

Status Active

MLS # 6741992

Property Type Single Family Residence

Price Type --

Experience the allure of this beautiful home in Azure Canyon! Close to Verrado and surrounded by mountain views! Great curb appeal with stone accent details, a 2-car garage, & a mature front yard. Just off the front entry are the formal dining room & double-door den; both provide versatility! Continue onto the inviting living room, which perfectly flows onto the kitchen. Home exudes elegance with stylish light fixtures, carpet & wood-look tile, neutral paint, and abundant natural light. The gourmet kitchen has SS appliances w/cooktop gas, granite counters, a pantry, ample staggered cabinetry, designer tile backsplash, and an island w/breakfast bar. The large main bedroom boasts a barn door that opens to the ensuite with two vanities & a walk-in closet. Two secondary bedrooms share a bathroom, while the other includes a private bathroom. Check out the clean slate backyard, providing a covered patio to relax or enjoy BBQ! With your creative ideas, you can make it a complete outdoor oasis. Enjoy endless entertainment options nearby, including the Wildlife Zoo, hiking trails, golf courses, Westgate Stadium, resorts, and more. You'll LOVE this gem!

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673 W Minton Drive Tempe, AZ 85282

$599,000

4 Beds

2.5 Baths

2,187 SqFt

Status Active

MLS # 6757028

Property Type Single Family Residence

Price Type --

Location, updates, beautiful backyard, this is it! This home is situated in prime Tempe: close to ASU, the I-10, the 60, airport and minutes from Downtown. Aside from its perfect proximity to so much, the inside is completely turn-key and updated to today's aesthetic. All four bedrooms are located upstairs for privacy and keeping messes at bay. The downstairs is sprawling with ample amounts of space for living & entertaining. The backyard offers low maintenance turf next to the sparkling pebble tec pool. The RV gate provides easy access for all your motor toys. Under the $600 price point, you won't find anything else like it in this part of town.

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