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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1144 E Sesame Street Tempe, AZ 85283

$589,500

3 Beds

2 Baths

2,028 SqFt

Status Active

MLS # 6716194

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated home featuring 3 Bedrooms + Home Office - where elegance meets functionality. The rich Brazilian Walnut floors create a warm and inviting ambiance throughout. Key Features: Open Floor Plan: The layout has been thoughtfully designed to provide a spacious great room, perfect for an active family and ideal for hosting gatherings. Flexible Space: The home office space can easily be returned to the original 4th bedroom, accommodating your changing needs. Modern Kitchen: The kitchen has been tastefully updated, offering both style and practicality. Bonus Amenities: Enjoy the convenience of an air-conditioned workshop in the backyard, along with a separate storage house. No HOA Hassles: Say goodbye to homeowner association headaches.

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14687 W Larkspur Drive Surprise, AZ 85379

$589,500

5 Beds

3 Baths

2,375 SqFt

Status Active

MLS # 6743505

Property Type Single Family Residence

Price Type --

Located in the heart of Surprise in the desirable neighborhood of Marley Park, this well maintained 2020 built home features 5 bedrooms, 3 bathrooms, pool, corner lot and much more! Entering the home you are greeted with an open floorpan with tile in all the main living areas. A kitchen that boasts granite counter tops, tons of cabinet space, walk-in pantry and family room with premium shutters on all windows. Primary bedroom features large walk-in closest and an upgraded tiled shower. The premium double slide patio door gives the home an open indoor / outdoor feel. The landscaped backyard features a pebble tec pool, synthetic grass and a built in fire pit. Close to shopping, restaurants, freeway access and more!

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6824 E Aire Libre Lane Scottsdale, AZ 85254

$589,500

3 Beds

2 Baths

1,330 SqFt

Status Active Under Contract

MLS # 6727799

Property Type Single Family Residence

Price Type --

Seller wants this SOLD!! All offers will be reviewed....Welcome to your dream home in the highly sought-after 85254 zip code! This move-in-ready gem offers 1,340 square feet of beautifully designed living space, featuring 3 spacious bedrooms and 2 modern bathrooms. The inviting great room off of the kitchen is perfect for family gatherings and entertaining guests. Gorgeous inside and out. Discover a newly built storage shed in the backyard, providing ample space for all your storage needs. Ideally located close to shopping, dining, and entertainment options, this charming home in a fantastic location won't last long - don't miss out!

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4069 W Nora Drive San Tan Valley, AZ 85144

$589,465

4 Beds

3.5 Baths

2,762 SqFt

Status Active

MLS # 6723176

Property Type Single Family Residence

Price Type --

Beautiful new build with no one behind you and views to the San Tan mountains. Gourmet kitchen layout, stainless steel appliances, 8' Interior doors.

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14809 W Tether Trail Surprise, AZ 85387

$589,410

4 Beds

3 Baths

2,657 SqFt

Status Active

MLS # 6747463

Property Type Single Family Residence

Price Type --

New home ready for move in this summer. Single-story Crimson floorplan with Spanish style exterior. This open floor plan with three car garage features four bedrooms, three bathrooms plus a flex room that can serve as a home office, game room or sitting area. The owner's suite has a spacious walk-in closet and bathroom with large vanity and a step-in shower with tile flooring and tile walls. The spacious kitchen features stainless steel appliances, gas cooktop, and a large island with ample sitting space. The stylish cabinetry in a creamy white tone is complemented by upgraded quartz countertops and wood color plank tile. Great home with spacious sitting and socializing areas. Home warranty included.

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2585 S Reno Drive Humboldt, AZ 86329

$589,000

5 Beds

2.5 Baths

2,769 SqFt

Status Active

MLS # 6727919

Property Type Single Family Residence

Price Type --

We invite you to explore this one-of-a-kind custom home built from the ground up with quality. Sitting on 0.46 and having space for a garage, this home has space for additions. Once you walk through the front door, you will discover an open floor plan, vaulted ceilings, natural light cascading in, and beautiful views. You won't be able to keep your eyes off the large living room with a gas fireplace and the stunning kitchen with a long island. As you explore the home, notice the split floor plan and large laundry room. Step into the primary suite, and you will feel the spacious bedroom, walk-in closet, and primary bathroom. The primary bathroom has a significant step-in shower and space for a sauna. Don't forget to explore the backyard of a gas fire pit. Explore this home for yourself.

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18411 N 46th Place Phoenix, AZ 85032

$589,000

3 Beds

2.5 Baths

1,748 SqFt

Status Active

MLS # 6754654

Property Type Single Family Residence

Price Type --

Welcome to this spacious 2-story home offering 3 bedrooms and 2.5 bathrooms. The home features a bright and airy main level with a spacious living room, kitchen, and a separate dining area. Just a few steps down, discover an inviting family room and convenient half bath, ideal for family and friend gatherings! Upstairs, you'll find the master suite complete with a private ensuite bath, alongside additional bedrooms. You can enjoy the convenience of a two-car garage. This home provides ample parking and storage options. Lastly stepped into your backyard that has a brand new pool that the homeowner designed with endless taste and design. Set up your showing today and lets get you into your new home.

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4247 E Tether Trail Phoenix, AZ 85050

$589,000

3 Beds

2 Baths

1,705 SqFt

Status Active Under Contract

MLS # 6752291

Property Type Single Family Residence

Price Type --

This beautifully updated 3-bedroom, 2-bathroom home offering the perfect blend of style, comfort, and convenience. Step inside to find beautiful easy maintainence porcelain tile flooring, complemented by fresh interior paint that brightens every room. The spacious kitchen is a chef's delight, featuring stainless steel appliances, sleek granite countertops, and ample storage space. The family room boasts built-in floating entertainment shelving, perfect for showcasing your media setup or décor. The primary bedroom is a true retreat, offering a large walk-in closet and private bathroom with dual sinks, granite counters, a separate tub, and shower. Step outside to enjoy your sparkling private pool, where you'll appreciate the added privacy of having no direct neighbors behind you! The outdoor space is further enhanced by a brand-new patio roof, providing a perfect spot for relaxation or entertaining. Additional upgrades include a new washer and dryer, a Tesla charger in the garage, new ceiling fans and light fixtures, and a new pool motor filter. This home is move-in ready and waiting for you to make it your own!

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6860 N Bridle Path Prescott, AZ 86305

$589,000

4 Beds

3 Baths

2,188 SqFt

Status Active

MLS # 6734725

Property Type Single Family Residence

Price Type --

Welcome to this spacious 4-bedroom, 3-bathroom home located in the desirable Williamson Valley area of Prescott, AZ. With 2,188 square feet of living space, this property offers a fantastic opportunity to create your dream home with a little TLC. The living room is bright and inviting, featuring a cozy wood-burning stove and large windows that fill the space with natural light. The kitchen, while in need of some updates, provides ample space and potential for customization to suit your needs. The bedrooms are well-sized, with the primary suite featuring an en-suite bathroom for added convenience. The family room offers a comfortable space for relaxation and entertainment, complete with French doors leading to the backyard. Situated on a large lot, this property offers plenty of room for outdoor activities and entertaining. Located in a peaceful neighborhood with stunning views of the surrounding landscape, this home is perfect for those looking to invest in a property with great potential. Don't miss out on this chance to make this house your own and enjoy all that the Williamson Valley community has to offer!

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104 N Center Way Benson, AZ 85602

$589,000

3 Beds

2.5 Baths

4,020 SqFt

Status Active

MLS # 6709731

Property Type Single Family Residence

Price Type --

Incredible HOME BUSINESS COMBINATION. Professionally designed 100% new remodel on large commercial lot. Huge attached garage/shop perfect for everything from a car collection to heavy industry (has 3PH power). Extra large bonus room could be an office/den/bedroom. Upstairs efficiency suite. New lifetime metal roof. Live and work in the same building. Excellent for home based business. Just off the freeway, 30 minutes to Tucson. This is truly a one-of-a-kind building to live and work in and have all your stuff in one place. 4020 SF living area - 4368 SF under roof This is a unique property like no other on the market it is one of a kind. Would be great for a car collector with a large garage or shop attached to the home. OWNER WILL CARRY

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10896 E Sahuaro Drive Scottsdale, AZ 85259

New

$589,000

4 Beds

2 Baths

1,760 SqFt

Status Active

MLS # 6761494

Property Type Single Family Residence

Price Type --

Come see this 4 bedroom 2 bathroom home located in a amazing Scottsdale location within the Shea corridor. It is only a short drive to shopping, dining, and all the city has to offer. Enjoy the best of outdoors at the nearby hiking / biking mountain trails. The surrounding area also offers several parks and walking paths. An added bonus is no HOA.

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17932 W Jojoba Road Goodyear, AZ 85338

$589,000

4 Beds

2.5 Baths

3,294 SqFt

Status Active

MLS # 6757606

Property Type Single Family Residence

Price Type --

This beautifully upgraded and spacious home located in the master planned lake community of Estrella is a must see in person! Located less than a mile from just one of the community's amazing clubhouses, with inclusive 2 story gym and impressive pools it is truly incomparable. Pictures do not do it justice as this home is in immaculate, like new condition and has been upgraded with no expenses spared. The 1st floor primary bedroom is a massive retreat with a spa like ensuite and huge walk-in closet! High end upgrades throughout the home such as new plush carpet, custom shelving/storage, fresh paint, new ss appliances, wood plank flooring are just a few to name and that doesn't even begin to describe what's been done to the huge backyard oasis. The artificial turf, garden and fruit trees, make you feel like you are living more in a resort than the desert...all the greenery and no mowing! What's the best part of owning this enormous home full of upgrades and turn key? The solar savings will make you feel like you can have all the space, without the high electric bills!

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