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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2177 E Alameda Drive Tempe, AZ 85282

$599,000

3 Beds

2 Baths

1,884 SqFt

Status Active

MLS # 6710147

Property Type Single Family Residence

Price Type --

Newly remodelled Tempe beauty at a exceptional price way below market! Such a great layout too! 3 bedroom, 2 bath, oversized 2 car with a bonus room in garage. The spacious vaulted great room has pre-wired surround sound, tile flooring, a beautiful new tile fireplace, and plantation shutters throughout. Remodelled kitchen has lots of white cabinets, newer stainless steel appliances, quartz counters, tile backsplash, and a convenient breakfast bar. Large primary bedroom offers a sunny bayed window, direct outdoor access, a walk-in closet, and a remodelled ensuite. On the other side of the home is 2 more bedrooms & bath. Large laundry room with ample storage. Conveniently located just minutes away from ASU, shopping, restaurants, and easy access to the freeway.

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1247 E Marketplace Way Phoenix, AZ 85048

$599,000

3 Beds

3 Baths

1,809 SqFt

Status Active

MLS # 6704331

Property Type Single Family Residence

Price Type --

Smoking deal!! Hard to find Lot!! 1% seller paid closing cost! 3 bedroom 3 full baths. This home has 2 master suites. Huge nearly a quarter acre lot with massive pool and spa. Single family detached home is all on one level on a cul-de-sac with lots of natural light boasting soaring ceilings. ALL NEW STAINLESS APPLIANCES INSTALLED! 2nd HVAC unit for Garage. Located in one of the most coveted areas in Ahwatukee in the heart of the Foothills. The lot sits above the homes behind it giving it that much more privacy and resort feel. Great views of the the Foothills golf course. Excellent Montessori School and within Kyrene School District. Hot water heater replaced in 2023 Trane HVAC Pool RePlastered in 2019 New pool Filter and pump 2024!

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5140 N Vista Road Apache Junction, AZ 85119

$599,000

2 Beds

1 Bath

1,260 SqFt

Status Active

MLS # 6720061

Property Type Single Family Residence

Price Type --

Location, location, location. Come home to this unobstructed mountain views by day and city lights at night. This 1.25-acre property borders state trust land. A unique property with much to offer. Private road, this horse property has access to trails for riding horses or off-road vehicle fun. Main house is 1260 square feet, newly painted inside and out, newer roof, new dual pane windows with custom blinds will keep it cool in the summer and save on the bills too! Tile floors, new carpet in the 2 bedrooms, MB has a door to the outside Arizona room. Bathroom set up nicely with a separate tub room and toilet area. Office has its own entrance. Fenced court yard with a firepit to enjoy the winter nights. A bonus second home on this property, fully furnished. 1984 singlewide, 2B2B, not affixed. Two privately owned wells, 1500 gallon holding tank. Two septic tanks. Two nice roomy sheds for ample storage, one tin shed for yard tools. RV electric hook-up. Electric and phone lines are underground, so, no wires overhead to obscure your awesome views. This is a rare property that is peaceful and tranquil, country living with city convenience just minutes away. Enjoy your large AZ room and savor the awesome views of the Superstition and Goldfield Mountains. Non-smokers home. Seller is motivated. Come by for a look, you will stay!

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9665 E Nido Avenue Mesa, AZ 85209

$599,000

4 Beds

2.5 Baths

2,376 SqFt

Status Active

MLS # 6740036

Property Type Single Family Residence

Price Type --

Property Highlights:. Experience the luxury of living in a community known for its outstanding golf amenities and picturesque surroundings.Retreat to the expansive primary suite, featuring cathedral ceilings, a private bath, and a large walk-in closet. The main floor is designed for both comfort and style, featuring 10-foot ceilings, an updated kitchen and bath. The large family, living, and dining rooms provide ample space for both everyday living and entertaining. The home boasts several recent improvements including a new 3.5-ton AC unit, updated landscaping, a built-in natural gas grill and new kitchen appliances, including a microwave oven and refrigerator. A 3-car garage with built-in cabinets offers ample storage for all your toys and essentials.

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935 S Pueblo Street Gilbert, AZ 85233

$599,000

4 Beds

2 Baths

2,243 SqFt

Status Active

MLS # 6716322

Property Type Single Family Residence

Price Type --

2 NEW HVAC UNITS JUST INSTALLED! Gorgeous 1 level home with 3 car garage - corner lot & backs to grassy area. Split floorplan- the elegant primary suite has a bay window, door to patio, linen closet, Garden tub, sep. shower, & big CUSTOM closet. 3 more bedrooms, 2nd linen, extra storage & the hall bath are down the front hall. Both bathrooms have newer toilets. The front room overlooks the back yard & family room blends into the dining area & kitchen. The kitchen features long breakfast bar, refinished cabinets, backsplash & New refrig. Laundry space has storage area & the garage has an exhaust fan, insulated doors & 3 phase power for electric car or welder. The back yard is a dream with extended paver patio, 2 yr Jacuzzi, Planters & Turf/putting green-an easy maintenance home!

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13214 W Blue Bonnet Drive Sun City West, AZ 85375

$599,000

3 Beds

2.5 Baths

2,519 SqFt

Status Active

MLS # 6734142

Property Type Single Family Residence

Price Type --

BEAUTIFUL 3 bed, 2.5 bath Briarwood CC golf course , 8th tee box, custom San Franciscan model. Bolivian rosewood wood floors, Oakcraft cherry cabinets, built-in wine cooler, all stainless steel appliances, plantations shutters, built-in entertainment center, walk-in pantry, travertine tile in baths and laundry room, 5 yr old roof, replaced HVAC, new electric box, full house water softening system, electric fireplace., landscape lighting and misting system...A MUST SEE Furniture available outside of escrow and golf cart.

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11217 N Blakely Street Surprise, AZ 85388

$599,000

2 Beds

2 Baths

1,568 SqFt

Status Active

MLS # 6660689

Property Type Single Family Residence

Price Type --

$80k in upgrades. Motivated seller! No waiting, own it now! Quiet street & 55+ section. Deluxe contemporary style. The Smithfield's welcoming extended covered entry and inviting foyer flow into the spacious great room and casual dining area, with views of the desirable covered patio. The well-designed kitchen is highlighted by a large center island with breakfast bar, plenty of counter and cabinet space, and ample walk-in pantry. The beautiful primary bedroom suite is enhanced by a sizable walk-in closet and spa-like primary bath with dual-sink vanity, luxe glass-enclosed shower with seat, and private water closet. The generous secondary bedroom features a roomy closet and shared full hall bath. Additional highlights include centrally located laundry and additional storage.

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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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954 N Golden Key Street Gilbert, AZ 85233

$599,000

5 Beds

2.5 Baths

2,239 SqFt

Status Active

MLS # 6738931

Property Type Single Family Residence

Price Type --

Owner Agent. Close to Downtown Gilbert! Roof, HVAC, and Pool pump replaced in 2023. Owned solar FULLY PAID OFF, 5 bedroom 2.5 bath home with a loft and a pool. Gas fireplace and hardwood floors in the main living areas. Built in fireplace in backyard has a gas line to it so you never have to use a propane tank. The community has lots of parks nearby and great shopping. One of the best locations you can live in. Buyer and buyers agent to verify all facts and figures.

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14392 W Windrose Drive Surprise, AZ 85379

$599,000

4 Beds

3 Baths

2,618 SqFt

Status Active

MLS # 6721199

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Start living in this beautiful residence in Marley Park. An inviting front porch greets you upon arrival. The meticulously maintained interior showcases elegant wood-look tile flooring, plantation shutters, stylish light fixtures, and a formal living room. The spacious great room, graced with abundant natural light, is made for entertaining! The chef's kitchen includes ample cabinets with crown moulding, stainless steel appliances, quartz counters, a pantry, tile backsplash, and a prep island with a breakfast bar. You'll also find a cozy den ideal for work or play. The main retreat features plush carpet, an ensuite with dual sinks, a make-up desk, and a walk-in closet. Venture outside to discover the large backyard, which provides a covered patio, paver seating area, and artificial turf. Plus, enjoy the added privacy of having no neighbors on one side, as the home is adjacent to a serene park. With all these upgrades and a premium lot, this home is a must-see. Act now!

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16034 W Sheila Lane Goodyear, AZ 85395

$599,000

3 Beds

3 Baths

2,474 SqFt

Status Active Under Contract

MLS # 6669240

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION. Located in PebbleCreek. The spacious living area is adorned with expansive windows that invite abundant natural light, creating an inviting ambiance perfect for relaxation and entertainment it also features a 2+ garage that's large enough for 2 cars & a golf cart! The kitchen is a culinary enthusiast's delight, with ample counter space. Adjacent to the living area lies a versatile den, ideal for a home office. The attached casita, complete with a kitchenette & ensuite, provides a private oasis for guests. Step outside to the expansive patio where you can soak in the panoramic vistas of the lush golf course surroundings.This exquisite home offers an unparalleled lifestyle opportunity for those seeking the ultimate retreat in a coveted golf course community.

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8821 S 47th Place Phoenix, AZ 85044

$599,000

4 Beds

3 Baths

2,195 SqFt

Status Active

MLS # 6745563

Property Type Townhouse

Price Type --

A rare opportunity for totally updated residence w/ views in mountainside resort, gated community! Amazing 4 bed, 3 bath residence in Pointe South Mtn/ AZ Grande in Ahwatukee haven! Two master bedrooms/ two large bedrooms perfect for large family or multi generational living. Upstairs bedrooms have balconies. Downstairs master with outdoor access. Updates from 2024 include modern interior color palette (2023 colors of the year), ext paint, two luxurious tiled rain showers, SS appliances, granite counters in kitchen/ downstairs baths, new light fixtures, new plumbing fixtures, all new flooring (wood plank tile and carpet), feature wall, roof updated, new landscape design featuring artificial grass and nightscape. The joy of your own piece of resort living, totally updated!

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