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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2030 E Duke Drive Tempe, AZ 85283

$595,000

3 Beds

2 Baths

1,652 SqFt

Status Active

MLS # 6736889

Property Type Single Family Residence

Price Type --

This TEMPE Home is in a GREAT LOCATION, Plus NO HOA! It's a Turnkey home! EVERYTHING has been Remodeled with Modern Up-grades! 3 Bedrooms, 2 beautiful modern primary Bath and Guest bath. Large Gathering Room and Huge kitchen! Your buyer will love the Chef's kitchen, Granite Counter's, Double Oven, and Lot's of kitchen storage. No carpet and new windows have custom blinds and shades! 2 Car Garage with garage and a side Service Door. No maintenance Front and a Huge backyard with a Covered Patio! Close to the 101 and 60 freeways. New Roof, Plumbing, HVAC, Electrical,Windows, Doors all done in 2022.

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20830 N 98th Avenue Peoria, AZ 85382

$595,000

4 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6755466

Property Type Single Family Residence

Price Type --

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2626 S Shannon Drive Tempe, AZ 85282

$595,000

3 Beds

2 Baths

1,733 SqFt

Status Active

MLS # 6754232

Property Type Single Family Residence

Price Type --

Welcome to your Eco-friendly Tempe oasis: Enjoy Arizona's sunshine year-round with your private backyard enclave, offering ample space for lounging, dining, or playing along with a sparkling pool and jacuzzi. This beautifully updated 3 bedroom, 2 bath home is ideal for small families or downsizers: The heart of the home boasts modern finishes and appliances, while the open-concept living and dining area is perfect for entertaining or relaxing. Energy-efficient upgrades include solar panels, a Tesla car charger, and peace of mind with a recently updated roof and water heater. Take advantage of the opportunity to own this turnkey gem, which is close to everything Tempe has to offer!

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427 E Mayfield Drive San Tan Valley, AZ 85143

$595,000

4 Beds

2.5 Baths

2,369 SqFt

Status Active

MLS # 6751714

Property Type Single Family Residence

Price Type --

You can't miss this property, It's sitting on a massive 20,000+ sq ft lot (just under 1/2 acre) with an RV gate and HOA allows RV'S up to 30 feet long parking in the back yard. There are 4 bedrooms and 2.5 baths. There is a huge open family room as well as a formal living room and a dining room. There is also a large open kitchen with a big island for entertaining,, new granite counters. The backyard is a blank slate waiting to become the backyard of your dreams, the options are endless and three-car garage. Improvements...All Carpet updated Jan-2022.All baseboards updated Jan -2022.The whole house was painted inside Jan-2022,,, Toilets Updated Jan-2022. Kitchen and Baths granite countertops and Cabinets painted updated Aug-2024. THE HOME WARRANTY IS INCLUDED FOR ONE YEAR.

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27386 W Osprey Drive Buckeye, AZ 85396

$595,000

2 Beds

2.5 Baths

2,557 SqFt

Status Active

MLS # 6739338

Property Type Single Family Residence

Price Type --

Why wait to build when you can make this stunning nearly new JOURNEY model yours today! This elegantly appointed 2,557 sqft, 2 beds, 2.5 bath, Den with French doors, Flex space, Great room, charming Courtyard & Golf cart garage home will not disappoint. The Kitchen is an entertainers delight with Granite countertops, sleek back splash, Gas cooktop with DOUBLE ovens, Soft close drawers, Pull out Shelves, Reverse Osmosis, magnificent Executive Island perfect for storing all of the small kitchen appliances and gathering loved ones or friends. Wooden shutters throughout & Media wall in the Great room. Owner's suite bathroom with its modern Tile Walk-in shower, Double sinks & Granite counters. Private walled lot, Extended Travertine Patio, Built-in gas BBQ & low maintenance Turf. See it today!

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2514 W Granite Pass Road Phoenix, AZ 85085

$595,000

3 Beds

2 Baths

2,352 SqFt

Status Active

MLS # 6713870

Property Type Single Family Residence

Price Type --

WELCOME to your dream home nestled in a serene cul-de-sac, offering just over 2300 sq ft of pure comfort and an OWNED, 100% COVERAGE SOLAR SYSTEM. As you step inside, you'll be greeted by an abundance of NATURAL LIGHT that fills the space, highlighting the beautiful granite countertops and rich cherry wood cabinets in the kitchen. The open-concept design seamlessly connects the living and dining areas, creating an atmosphere perfect for both entertaining and everyday living. Step out to your private oasis, where you'll find meticulously designed pavers, lush turf, and gorgeous PANORAMIC MOUNTAIN VIEWS. The brand-new epoxy floors in the garage offer durability and easy maintenance. Located minutes away from the I-17, entertainment, restaurants and shopping.

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4602 E Monte Way Phoenix, AZ 85044

$595,000

3 Beds

2 Baths

1,735 SqFt

Status Active

MLS # 6682751

Property Type Twin Home

Price Type --

Price Reduction!!! Excellent Golf Course Lot has the views but far enough away to be private & very few if any golf balls*Corner lot*Mountain Views*Home is a block away from South Mtn Park*Private In Ground Heated Spa*Multiple Patio Areas*Wood Shutters*Tile Floors Through-out*Vaulted Ceilings*Newer Heat Pump*Split Bdrm Plan*3rd Bdrm Can be Den or Bdrm*Nicely landscaped*Community pools & spas*

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45 Gila Drive Bisbee, AZ 85603

$595,000

3 Beds

2 Baths

2,650 SqFt

Status Active

MLS # 6696796

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION! Motivated seller. All reasonable offers will be considered. This beautiful and grand Bisbee ranch-style solid block home is set on exquisite grounds with big views and is an entertainer's dream - both inside and out! Interior features include a large family room with bar, two fireplaces, a formal dining room and eat-in kitchen, beautiful travertine tile floors, dual HVAC units, and space, space, space! Outside you'll find large peaceful patios, fenced yards, natural-gas BBQ, 2-room developed outbuilding (currently offices), 4-car tandem garage, irrigated landscaping, and gorgeous trees all on just under an acre of land. This expansive home has been loved and well cared for by the same family for decades, and this is reflected in the quality of the features and the condition of the property. You must see this home! Buyer to verify all facts/figures.

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3724 E Vest Avenue Gilbert, AZ 85295

$595,000

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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2166 S 217th Lane Buckeye, AZ 85326

$595,000

4 Beds

2.5 Baths

3,523 SqFt

Status Active

MLS # 6729300

Property Type Single Family Residence

Price Type --

This spectacular two-story home is perfect for a large family with plenty of room to spread out! Enjoy New Paint outside, new carpet, a water softener, and OWNED solar panels for energy efficiency. Downstairs offers eat in kitchen to entertain your guests with ease. Upstairs boasts four spacious bedrooms with ample closet space. The master bedroom has French doors, walk-in closet and garden tub plus separate shower. Step outside to find your own private oasis complete with brand new sparkling pool, landscaping and views of the desert green belt! Plus there's an extended driveway, three car garage, RV gate and plenty of slab parking. This home is located conveniently close to shopping, restaurants, easy freeway access, hiking & more!

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22707 N Pico Drive Sun City West, AZ 85375

$595,000

2 Beds

2 Baths

1,904 SqFt

Status Active Under Contract

MLS # 6719405

Property Type Single Family Residence

Price Type --

NEW LOW PRICE! MOTIVATED SELLER! This well-appointed home has amazing private outdoor living space. Nestled in the center of Corte Bella with a walled homesite. Enter through the mission style gate to the beautiful front courtyard lined with palms and mature flowing plants. It's your own private sanctuary! The round rotunda foyer and split bedrooms are favorite features of the San Marco model. The focal point is a stunnuing stone entertainment wall/ gas fireplace. 42'' white cabinets island & SS appliances in the kitchen. Wood look tile floors in the great room & kitchen. Mstr bath has jetted tub & separate shower. Master closet is HUGE! The resort-style backyard has a heated pool & spacious cool deck area. Garage holds 2 cars + golf cart!

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8517 E Indigo Street Mesa, AZ 85207

$595,000

3 Beds

2 Baths

1,753 SqFt

Status Active Under Contract

MLS # 6723662

Property Type Single Family Residence

Price Type --

Welcome home! This stunning 3-bedroom, 2-bathroom single-level home is nestled in the prestigious gated community of Mountain Bridge. The interior features a versatile flex room perfect for a home office, playroom, or guest suite, and a split floorplan that provides privacy with the primary suite separate from the additional bedrooms. The open great room is ideal for entertaining and family gatherings, seamlessly connecting the living, dining, and kitchen areas, which are adorned with granite countertops, new HVAC in 2023 and plantation shutters throughout. Outside, enjoy a private backyard with a built-in BBQ area, new spa, and low-maintenance turf grass. Location is only 30 minutes from Sky Harbor and easy access to the freeway. The Mountain Bridge community offers an array of amenities, including year-round relaxation, a fitness room, and tennis and pickleball courts for sports enthusiasts. Additionally, the location provides easy access to hiking, biking, lakes, golf courses, and more, making it easy to embrace an active lifestyle. Don't miss the opportunity to make this exceptional property your new home in Mountain Bridge, where luxury meets convenience and community. Don't miss this luxurious gem!

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