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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5526 S Grenoble Street Mesa, AZ 85212

$585,000

3 Beds

2 Baths

2,020 SqFt

Status Active

MLS # 6700408

Property Type Single Family Residence

Price Type --

The things this home has to offer!!! From the 3 Beds, 2 baths, the Glass Doors Studio/DEN to the Tankless Gas Water Heater, the water Softener and water Filter, to the hidden Safe, extended cabinets at kitchen, the quartz countertops, Murphy Bed for your guests, to the surround system in the great room and the TV on the patio, colorful outdoor Jacuzzi to relax under the pergola, the outdoor lightening, Variety of Fruit Trees, and top it off with the separate doggy play area. Come see it and you will fall in love!

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1840 Old Jerome Highway Clarkdale, AZ 86324

$585,000

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6756357

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of the Verde Valley! This stunning property offers breathtaking views of the iconic red rocks, providing a picturesque backdrop for both sunrises and sunsets. The spacious and open floor plan is designed to let in abundant natural light, making every room feel bright and inviting. The master suite, complete with a beautifully refreshed bathroom, is privately situated on one side of the house, while the guest bedroom and bath are thoughtfully placed on the opposite side. Step into the newly enclosed 325 sqft patioan oasis where you can enjoy the serene, private backyard. The home boasts numerous upgrades, including a NOVO water softener and whole-house filtration system, new luxury vinyl plank floors in both bathrooms, and a sleek marble kitchen countertop paired with new appliances. The recent additions of new light fixtures, bathroom mirrors, and shower doors add a modern touch, while the freshly painted master bedroom and new shades throughout give the space a fresh, updated feel. This energy-efficient home features an owned 8.4 kW solar system, ensuring lower utility bills and a smaller environmental footprint. Outdoors, you'll find a newly paved BBQ station, an irrigation system for low-maintenance landscaping, a retaining wall, and a driveway extension for added convenience. With a new front door, security screen door, and garage door opener, this home is as secure as it is stylish. From the new washer and dryer to the safe installed in the master closet, every detail has been thoughtfully considered. Don't miss your chance to own a piece of the Verde Valley with unparalleled views and modern luxury! Seller's improvement list is as below. Year 2021 Added NOVO water softener and whole house filtration system New front door New luxury vinyl plank floor in both bathrooms New toilets in both bathrooms New closet doors in two guest bedrooms New paint in master bedroom New shades in all windows except one next to the front door New Garage door opener replaced New kitchen appliances- stove/oven, dishwasher New Washer and Dryer New Light fixtures Year 2022 New shower doors in the master bathroom New landscaping irrigation system installed Solar panels New kitchen marble countertop and new sink New mirrors in the bathrooms Added driveway slab 100sqft Year 2023 New front security screen door New safe was installed in master bedroom closet 325sqft of enclosed porch completed Year 2024 Retaining wall outside in the front / Paved BBQ station in the backyard

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12096 E Chiricahua Place Gold Canyon, AZ 85118

$585,000

3 Beds

2.5 Baths

2,215 SqFt

Status Active

MLS # 6756521

Property Type Single Family Residence

Price Type --

Introducing a beautiful residence in the esteemed Peralta Canyon, now for sale! Nestled on a tranquil cul-de-sac, this gem flaunts a well-maintained front yard, striking stone detailing, and a 3-car garage. Be welcomed by an inviting hallway ushering you to the captivating open layout. With its tall ceilings, plantation shutters, recessed lighting t/out, and sleek wood-plank tile flooring, this immaculate home exudes style and comfort. Gourmet kitchen is fully equipped with a gas cooktop, a wall oven, granite counters, a subway tile backsplash, handsome wood cabinetry with crown molding, a pantry, and a sizable island with a breakfast bar. Find your sanctuary in the grand main suite, offering cozy carpeting, an ensuite, and a walk-in closet. Secondary bedrooms have a Jack & Jill bathroom The serene backyard, with a covered patio, artificial turf, pavers, and incredible mountain views, is excellent for outdoor gatherings. Hurry! Your paradise awaits!

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17474 W Straight Arrow Lane Surprise, AZ 85387

$585,000

4 Beds

2.5 Baths

2,908 SqFt

Status Active

MLS # 6738139

Property Type Single Family Residence

Price Type --

A lifestyle to treasure! This stunning property is in a most desirable neighborhood and is the key to elegance and comfort. Vacation daily in your community with a pool, splash pad, volleyball, basketball, picnic areas, and hiking trails just to the north. You also get a 4-bedroom home with dedicated office space that is energy-efficient with solar. Easy to whip up culinary delights on your 5-burner gas stove. Both living areas provide flexibility to accommodate your particular style of living. Your large back yard accommodates outdoor living with a covered patio, pavered gathering areas, and artificial turf. Also, a 3-car tandem garage for your motor toys or extra storage. Compare other neighboring properties and discover the opportunity to own this home at a bargain price.

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12947 W Fossil Drive Peoria, AZ 85383

$585,000

2 Beds

2 Baths

1,798 SqFt

Status Active

MLS # 6737283

Property Type Single Family Residence

Price Type --

Beautiful Lock and Leave SIDUS Model in Quiet Area of Trilogy. Tile Flooring Throughout, No Carpet. Kitchen Boasts UPGRADED STAGGERED CABINETS, CROWN MOLDING, ROLL OUT SHELVES, UNDER CABINET LIGHTING, STAINLESS APPLIANCES & ENGINEERED STONE COUNTER TOPS, with TILE BACKSPLASH. Large Smart Room with an ABUNDANCE OF CABINETS for EXTRA STORAGE, 2 Desk Work Areas, & LARGE PANTRY. Large Living area features WALL OF GLASS SLIDER that opens to Tiled & Paver Private Patio with a Raised Planter Bed for your Herb Garden or Flowers, & Synthetic Grass area. MURPHY BED in Den. Master Features Bay Area for Seating. Step into Master Bath with TILE SHOWER and DUAL VANITIES. This Beautiful Home Features Everything You Need In a Resort Adult Community. Extended Garage & Low Maintenance Landscaping too.

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22365 E Via Del Rancho -- Queen Creek, AZ 85142

$585,000

4 Beds

3 Baths

2,162 SqFt

Status Active Under Contract

MLS # 6740840

Property Type Single Family Residence

Price Type --

Delightfully updated, this property is equipped with 4 bedrooms, 3 bathrooms, great room, spacious kitchen, sparkling pool, and artificial turf on a HUGE lot with room for owners and guests to have some fun! Brand new appliances, new flooring and tasteful finishing touches is what makes this property a HOME.

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7710 E Gainey Ranch Road Unit 206 Scottsdale, AZ 85258

$585,000

2 Beds

2 Baths

954 SqFt

Status Active

MLS # 6755867

Property Type Townhouse

Price Type --

* Highly Desired unit in The Courts at Gainey Ranch; Exclusive Guard-gated Community in Heart of Scottsdale * Sunset & Mountain Views from Great Room Picture Window & Balconies; Open Layout is Light & Bright Featuring Updated Kitchen, Baths, Lighting/Fans, Custom Shades, Security/Screen Doors, Trex-style Deck off Great Room, Fireplace, Large Laundry Room with Full Sized Washer/Dryer, Private Garage with Storage, Private Balconies * Amenities include Tennis, Pickleball, Renovated Estate Club w/ State of the art Fitness Center, Rec/Entertainment, Indoor/Outdoor Bar, Olympic-sized Heated Pool & Spa; Tree-lined Paths & Park, Additional Private Courts Community Heated Pool & Spa steps away * 24/7 Security, Perfect for your Lock & Leave Lifestyle * HOA covers almost everything * Don't miss it!

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6722 W Piute Avenue Glendale, AZ 85308

$585,000

4 Beds

2 Baths

2,041 SqFt

Status Active

MLS # 6659432

Property Type Single Family Residence

Price Type --

Fantastic property for sale! You will love the light and bright floor plan boasting ample living spaces, a fully equipped kitchen for cooking, and four sizable bedrooms. Outside, discover a serene backyard with a paver patio ideal for gatherings. Don't wait! Tenant is place and the lease ends 12/31/2024.

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1453 E South Fork Drive Phoenix, AZ 85048

$585,000

3 Beds

2.5 Baths

2,232 SqFt

Status Active

MLS # 6747567

Property Type Single Family Residence

Price Type --

Newly remodeled beautiful 3 Bedroom, 2.5 Bath home with Loft and Den in The Foothills Community. Fresh paint makes this home Open & Bright. Fireplace in Living room. Formal Dining, warm Family room w/tile. Large upgraded kitchen, backsplash, new stainless steel appliances , new quartz kitchen island and countertop, All new faucets. Good sized master bedroom upstairs with great view of Mountains , walk in closet. Master bath has double sinks , separate shower and tub and private toilet room. Downstair den can be converted to a bedroom. 90% Sun Blockage black screen. New equipment on pool 2024, exterior wall painted on 2023. Excellent Kyrene School District, quiet community, easy access to 202, only 10 mins convenient to shopping plaza and south mountain trail.

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214 E Avenida Sierra Madre -- Gilbert, AZ 85296

$585,000

4 Beds

2 Baths

1,901 SqFt

Status Active

MLS # 6732640

Property Type Single Family Residence

Price Type --

Here is the deal you have been waiting for! Downtown Gilbert home, No HOA, in the desirable Colonia Grande subdivision. This 4 bedroom home with 1,901 square feet has been well cared for with same family for over 35 years. The living room boasts vaulted ceilings with wood beams and a wood burning fire place. There is an additional flex space off the entrance that could be utilised as a den or office. The kitchen has a large walk-in pantry and almost all the windows have been replaced for a more energy efficient home. Sparkling blue pool in back completely fenced in with a block wall. This home is solid, but could definitely use some updating and is priced to reflect that.

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2398 W Arroyo Way San Tan Valley, AZ 85144

$585,000

4 Beds

2.5 Baths

2,535 SqFt

Status Active

MLS # 6707047

Property Type Single Family Residence

Price Type --

Beautiful single family home featured in popular community ''Morning Sun Farms' located in Queen Creek, AZ. This highly preferred [single level] home incorporates a subtle balance of contemporary finishes with a modern design. The home features 4 bedrooms, +Den/5th bedroom, 2.5 bath(s), 2,534 sq ft open concept floor plan, nicely appointed kitchen w/ granite countertops, large [eat-in] island, dual ovens, gas cooking, raised panel cabinetry, ss appliances, and walk-in pantry. Also, this home features large great room space, 9ft+ ceilings, tile flooring, modern plumbing/lighting fixtures [fans], dual pane [low-e] windows, 2'' wood faux blinds, designated dining space, and a dedicated master retreat featuring a spacious sleeping quarters, separate shower/tub, dual sinks, and large walk-in. closet. Lastly, the home features a 3-car tandem garage w/ new epoxy floors & built-in storage cabinets, and a private [resort style] backyard equipped with covered patio space, sparkling heated pool, built in BBQ [w/ dedicated gas line], mature landscaping, and separate RV gate --perfect for entertaining guests & family. Morning Sun Farms offers residents plenty of walking & bike paths, green spaces, and is just minutes away from great shopping, restaurants, and entertainment.

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281 N Brookside Street Chandler, AZ 85225

$585,000

4 Beds

2.5 Baths

2,377 SqFt

Status Active Under Contract

MLS # 6725686

Property Type Single Family Residence

Price Type --

Home has a full remodel + new windows coming soon! Discover the allure of this lovely two-story home, boasting a charming curb appeal w/ 2-car garage & an inviting front porch. The immaculately designed interior features spacious living areas, excellent for welcoming & entertaining guests. With its high ceilings, soothing paint, chic light fixtures, archways, wood-style flooring, a cozy fireplace, & abundant natural light, this gem exudes elegance. Be impressed by the impeccable kitchen, equipped w/ quartz counters, a subway tile backsplash, ample white cabinetry, & recessed lighting. Grand main suite upstairs offers plush carpeting, a bright sitting area, & a sophisticated ensuite w/ a step-in glass shower, dual sinks, & a walk-in closet. Out the back, you have a covered patio & a refreshing pool ready to enjoy.

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