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.

Whats 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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302 W Oak Avenue Unit 3 Flagstaff, AZ 86001

$598,000
2 Beds
2.5 Baths
1,085 SqFt
Status Active
MLS # 6733268
Property Type Single Family Residence
Price Type --
TO BE BUILT...Welcome to modern living in the heart of Flagstaff - a collection of contemporary detached homes that redefine luxury and convenience. Nestled against the backdrop of the stunning mountains, step into a world where architectural brilliance meets nature's beauty. The community boasts a sleek and contemporary design that seamlessly integrates with the natural surroundings. Plentiful glass allows ample natural light to flood the interiors, creating a harmonious blend of indoor and outdoor living. Clean lines, high ceilings, and thoughtfully designed spaces provide an open and airy atmosphere making each home a sanctuary of modern sophistication. Wake up to the awe-inspiring sight of the mountains right outside your window (Select Lots Only).

1961 W Yellowstone Way Chandler, AZ 85248

$598,000
3 Beds
2.5 Baths
1,956 SqFt
Status Active
MLS # 6740631
Property Type Single Family Residence
Price Type --
Don't miss out on this charming property located in Villa del Lago, Ocotillo.This two-story home offers a gourmet kitchen, spacious Great Room and dining. The living room has tons of natural light area on the first floor. Upstairs you can retreat to the primary bedroom which is roomy and peaceful and two secondary bedrooms. Home has tons of upgrades including double wall ovens, stainless steel appliances, gas cooktop, white cabinets throughout, granite counters, and pavers. HOA maintains a front yard. Nice community pool and spa, as well as outdoor fireplace, lounging area BBQ with covered tables, swing set and community garden. Ocotillo offers community Pickle Ball and Tennis courts, parks,catch and release fishing, and discounted golf. Come take a look. You won't be disappointed!.

21354 E Sparrow Drive Queen Creek, AZ 85142

$597,594
4 Beds
3 Baths
2,405 SqFt
Status Active
MLS # 6753924
Property Type Single Family Residence
Price Type --
Welcome to this stunning home in Ascent at Jorde Farms, filled with numerous upgrades! Inside, you'll find a gourmet kitchen featuring designer cabinets, quartz countertops, and Whirlpool stainless steel appliances. The open-concept great room offers the perfect space for gatherings. The private primary bedroom includes an ensuite bath and a spacious walk-in closet. This home boasts 3 bedrooms, 3 full baths, upgraded paint, flooring, and more! Enjoy the charming porch and become part of the inviting Ascent at Jorde Farms community, which plans to offer a pool, walking paths, and parks. With great restaurants and shopping nearby, your dream home awaits! Welcome home!!

13618 N 18th Street Phoenix, AZ 85022

$597,500
3 Beds
2 Baths
1,732 SqFt
Status Active
MLS # 6691948
Property Type Single Family Residence
Price Type --
PREMIUM single story custom built property with UPDATES galore. Features include: spacious open floorplan with vaulted ceiling, granite countertops, tumbled travertine and wood flooring, custom kitchen cabinetry, remodeled baths, solid core doors, security doors at front/back, enclosed additional patio space off kitchen, low maintenance front yard landscape, gorgeous mature backyard landscape and more. Welcome home!

6418 W Irma Lane Glendale, AZ 85308

$597,500
3 Beds
2 Baths
1,834 SqFt
Status Active
MLS # 6710712
Property Type Single Family Residence
Price Type --
Absolutely Stunning 3 Bedroom, 2 Bath, Single Level Home Located on Premium Golf Course Lot, Formal Living & Dining Room w/Vaulted Ceilings, Upgraded Kitchen w/Custom Cabinets & Granite Countertops, Kitchen Island w/Breakfast Bar, Stainless Steel Appliances Included, Family Room w/Wood Burning Fireplace, Master Bedroom w/Walk-In Closet, Master Bathroom w/Dual Sinks, Custom Walk-In Shower & Tub, Tile Throughout Home, Dual Pane Windows, Plantation Shutters, Extended Covered Backyard Patio, Professionally Landscaped Front & Backyard, Variety Of Mature Citrus Trees, Best Backyard in the Community with over Quarter Acre Lot & Wonderful Views of the Golf Course, 2 Car Garage, Cul-De-Sac Lot, Come Check It Out!

36038 N Puente Alto Avenue San Tan Valley, AZ 85140

$597,500
2 Beds
2 Baths
1,769 SqFt
Status Active
MLS # 6717592
Property Type Single Family Residence
Price Type --
Stunning home that will deliver perfection to any buyer. Home is upscale and they sellers did many upgrades the property including glass and iron front door, upgraded springs on garage door, upgraded all appliances in property. landscaping is immaculate with fencing around property, travertine tile on patio and front entryway, electric screen enclosure on patio installed, cabinets painted, ventilation system installed. Home is amazing please call get this one while it is available.

16017 S 12th Place Phoenix, AZ 85048

$597,500 - 4Br/3Ba -  for Sale in The Foothills Parcel 3b M, Phoenix
New
$597,500
4 Beds
3 Baths
2,039 SqFt
Status Active
MLS # 6760725
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the highly sought-after Ahwatukee Foothills! Nestled in a serene cul-de-sac, this 3 bedroom plus bonus room, 3-bathroom residence boasts 2,039 square feet of luxurious living space. As you step inside, you'll be greeted by a stunning layout, perfect for entertaining guests or simply enjoying family time. This home has spectacular Mountain views and sits on the beautiful Foothills Golf course, this not only provides peace of mind and fantastic views. The next item you won't want to miss is the updated Bathrooms: Indulge in luxury with the newly updated modern fixtures and elegant design. Outback you will enjoy the private pool and hot tub. Also, wonderful nearby hiking trails and golfing amenities and much more.... Grab your little slice of paradise!

14931 S 185th Avenue Goodyear, AZ 85338

$597,200
3 Beds
3 Baths
2,593 SqFt
Status Active Under Contract
MLS # 6752606
Property Type Single Family Residence
Price Type --
Explore the elegance of this stunning 3-bedroom home, complete with a charming Casita! The striking exterior boasts a 3-car garage and elegant stone accents. Inside, you'll find a bright and airy great room with abundant natural light and expansive sliding glass doors. The gourmet kitchen is equipped with stainless steel appliances, ample white cabinetry with crown molding, a pantry, recessed and pendant lighting and sleek quartz countertops. The primary suite offers outdoor access, a luxurious ensuite with dual sinks, and a spacious walk-in closet. Additional highlights include a dedicated den and a fully appointed Casita with its own entrance. The spacious backyard is perfect for relaxation, featuring a covered patio and stunning mountain views. This exceptional property is a must-see!

13330 W Milton Drive Peoria, AZ 85383

$597,000
2 Beds
2 Baths
1,760 SqFt
Status Active
MLS # 6700963
Property Type Single Family Residence
Price Type --
LIKE NEW! 2021-built 'Vibrant' with 9.25 kW SOLAR LEASE for huge savings, PLANTATION SHUTTERS & NO CARPET! 2BR/2BA with large multi-use den. Beautiful curb appeal enhanced w/PAVERS on driveway & front porch. Many outstanding upgrades/features - GRANITE SLAB on kitchen counters & large island, stainless GE PROFILE appls. w/5-burner GAS cooktop & GE French-door refrigerator, walk-in pantry. NEW 2024 LUXURY VINYL PLANK FLOORING in bedrooms & den; tile flooring in main areas. Inviting private backyard ideal for alfresco dining or entertaining has HUGE PAVER PATIO, faux grass, attractive landscaping w/lighting & is FENCED including a wall behind. The 2-car garage w/EPOXY FLOOR has overhead storage racks & pedestrian door to an EXTERIOR TRASH ENCLOSURE. SHORT DISTANCE to DOG PARK & MITA CLUB. Additionally, the primary suite has a large bedroom with no carpeting, double sinks, shower, toilet room & large walk-in closet. Guest bedroom with no carpeting & bath are split from primary suite providing privacy for you and your guests. POST TENSION SLAB. Gutters & downspouts. Extra area in garage can be used for storage, motorcycle, or golf cart. $2.40 IS THE AVERAGE FOR APS BILLS THE PAST 12 MONTHS! Gas line was installed for use in backyard. This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge community park loaded with amenities.

2625 S Bonarden Lane Tempe, AZ 85282

$597,000
4 Beds
2 Baths
1,669 SqFt
Status Active
MLS # 6703367
Property Type Single Family Residence
Price Type --
Amazing opportunity to own this nicely updated 4 bedroom, 2 bath home on a corner lot with RV Gate. Step inside and you will find easy care wood like laminate flooring through out and designer baseboards. Clean and bright galley style kitchen with plenty of cabinet space, stainless appliances and bar style breakfast counter overlooking the cozy brick fireplace and family room. Large covered patio overlooks generously sized block fenced back yard with low maintenance desert landscaping. Prime location close to the Orbit Bus with easy access to ASU campus, dining, sporting events and night life! Fantastic central location!

6340 W Saddlehorn Road Phoenix, AZ 85083

$597,000
4 Beds
2.5 Baths
2,578 SqFt
Status Active
MLS # 6722138
Property Type Single Family Residence
Price Type --
Welcome to this stunning 4-bedroom, 2.5-bath, two-story home nestled in a tranquil community. Spanning 2,542 sqft, this residence boasts an inviting family room with an abundance of natural light, vaulted ceilings, and high ceilings throughout. The kitchen features a pantry, granite countertops, and custom white cabinets with soft-closing doors. Enjoy meals in the formal dining area or the eat-in kitchen. Open the 4-panel sliding glass doors and bring the outdoors in! Enjoy a refreshing dip in the large Pebble Tec volleyball pool in your private, landscaped backyard. Relax on the balcony or patio and take in the beautiful views. This is the perfect blend of style, function, and resort-like living!

2149 S Olivewood -- Mesa, AZ 85209

$597,000
2 Beds
2 Baths
2,239 SqFt
Status Active Under Contract
MLS # 6746091
Property Type Single Family Residence
Price Type --
Stunning 2-bed, 2-bath plus den property in the active adult community of Sunland Springs. There are wonderful features in this home for the buyer that appreciates Large open concept living area, vaulted ceilings, updated kitchen with large island, eat-in breakfast area plus family room. Formal dining is located right in the main entrance area. Kitchen has granite countertops and stainless steel appliances. A bonus of screened in patio. The den can easily be converted to a 3rd bedroom. Large primary bedroom with walk-in closet, shower, tub and double sinks. Lots of storage A 55+ property is located just minutes from Superstition West shopping & dining, Sunland Springs Golf Club, Costco and is a short drive to Sky Harbor Airport. Submit all offers before you miss this great property.

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