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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1740 W Saragosa Street Chandler, AZ 85224

$579,999

3 Beds

2 Baths

1,779 SqFt

Status Active Under Contract

MLS # 6733824

Property Type Single Family Residence

Price Type --

BEAUTIFUL REMODELED 3 BEDROOM 2BATH HOME. PREMIUM CORNER LOT ** NEW ROOF ** 10' CEILINGS ** CAN LIGHTING ** NEW CEILING FANS ** NEW CERAMIC TILE** NEW QUARTZ COUNTERTOP. GAS FIREPLACE WITH BEAUTIFUL STONE AROUND ** NEW APPLIANCES ** PEBBLE TEC POOL WITH ROCK WATER FALL ** EXTRA COOL DECKING ** FAUX FLAGSTONE PATIO FINISH ** MIRRORED DOORS TO HUGE WALK-IN MASTER BEDROOM CLOSET ** SIDE ENTRY GARAGE WITH SERVICE DOOR ** SEPARATE TUB & TILE SHOWER ** ** LARGE MASTER BEDROOM W/ SITTING ROOM AREA ** SECOND BATH TILE SHOWER WITH NEW GLASS DOOR. NEW VANITIES. NEW LIGHT FIXTURES. NEW BASEBOARD. NEW CARPET IN BEDROOMS. NEW PAINT INSIDE AND OUT AND MORE. EASY ACCESS TO SHOPPING & 101 FREEWAY

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4404 W Villa Linda Drive Glendale, AZ 85310

$579,999

4 Beds

2.5 Baths

2,380 SqFt

Status Active Under Contract

MLS # 6739128

Property Type Single Family Residence

Price Type --

Imagine yourself living in this beautiful two-story residence. Inside, you'll find two levels of inviting interiors, blending comfort and functionality. The home's striking curb appeal is highlighted by its modern design, with a beautiful grey exterior. A grand entrance, where high ceilings and large windows create a bright and inviting atmosphere. Includes a versatile den that's perfect for a home office, ideal for today's work-from-home lifestyle. Step into your private backyard oasis, perfect for both relaxation and entertainment. The expansive yard is adorned with lush green grass, mature fruit trees, and meticulously maintained landscaping. A highlight of this outdoor space is the sparkling pool and spa, offering a serene retreat for sunny Arizona days.

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27096 W Burnett Road Buckeye, AZ 85396

$579,999

2 Beds

2.5 Baths

2,527 SqFt

Status Active

MLS # 6692778

Property Type Single Family Residence

Price Type --

Desert Charm: Your Oasis Awaits! With captivating desert landscaping enhancing this home's curb appeal, the inviting paver entrance leads to a charming courtyard, setting the stage for relaxation and tranquility. The open floor plan boasts an oversized great room, freshly painted with high ceilings and a wet bar adjacent to the living area, perfect for entertaining. The spacious kitchen offers beautiful cherrywood cabinetry, stainless steel appliances, and large pantry. Enjoy formal dining in the great room or casual meals at the breakfast bar illuminated by pendant lighting. Retreat to the expansive primary ensuite, offering a separate tub and shower, dual sink vanity, and a generous sized closet. Another bedroom with its own bath plus a den/office provide flexibility and space for guests or hobbies. Outside, the backyard oasis features a built-in BBQ, covered patio with a ceiling fan and misters, plus a fire pit surrounded by built-in seating, all amidst the serene desert landscaping. Experience the ultimate in resort-style living with access to a wealth of amenities and activities offered in the vibrant 55+ community of Sun City Festival, including pickleball, tennis, swimming pools, a gym, and golf at the nearby Copper Canyon Golf Club. Enjoy resort-style living in this entertainer's dream home!

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19516 N 71st Avenue Glendale, AZ 85308

$579,999

4 Beds

2.5 Baths

3,035 SqFt

Status Active

MLS # 6752071

Property Type Single Family Residence

Price Type --

INVESTOR SPECIAL!!! WILL GO FAST! Incredible 4-bedroom residence backing the golf course in the highly desired Arrowhead Ranch Community! This two-story gem provides a brick-accented façade and a 3-car garage. Immaculate interior has high vaulted ceilings, soft carpet throughout, surround sound speakers in the formal living/dining room, and wood floors in the right areas. Cook delicious meals in the beautiful kitchen equipped with built-in appliances, a center island for prep, plenty of cabinets, ample counters, and a breakfast bar. The main bedroom is downstairs for added comfort, offering private backyard access, dual walk-in closets, and a full bathroom with two sinks in the L-shaped vanity. New roof was installed 3 years ago. This home will be beautiful with a face lift!

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4324 W Orchid Lane Glendale, AZ 85302

$579,998

3 Beds

2 Baths

2,237 SqFt

Status Active Under Contract

MLS # 6755871

Property Type Single Family Residence

Price Type --

A stunning and completely renovated home boasts an open floorplan, 3 bedrooms, 2 bath and a Den with 2237 sqft, 2 car garage with a large backyard RV gate & parking, large lot room for all the toys and a sparling pool with covered patio. The kitchen comes with stainless-steel appliances, quartz countertops and brand-new white shaker cabinets. Brand new vinyl wood flooring & upgraded carpet throughout the home. Enjoy the fully upgraded, spa like bathrooms with high end shower system, framed mirrors, shower niche, and custom vanities. Brand new water heater. Located in a lovely desirable neighborhood located close to shopping, parks, schools, and dining. No HOA's A Must see

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720 E Aurora Drive San Tan Valley, AZ 85140

$579,990

3 Beds

2.5 Baths

2,094 SqFt

Status Active

MLS # 6755660

Property Type Single Family Residence

Price Type --

This Santa Rosa plan offers 3 bedrooms, 2.5 baths, and a versatile FLEX room, perfect for a home office or peaceful retreat. Part of our signature Classics ''Looks'' interior collection, the kitchen boasts a spacious island with breakfast bar, White Cabinets, and Quartz Countertops. The open great room and dining area flow seamlessly to an oversized covered patio, ideal for indoor/outdoor living. Enjoy the convenience of our unique HovHub with a built-in desk as a drop zone near the garage entry. The Primary suite features a luxurious resort-style bath and a spacious walk-in closet. ^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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32001 N 117th Avenue Peoria, AZ 85383

$579,990

3 Beds

2 Baths

1,486 SqFt

Status Active

MLS # 6755152

Property Type Single Family Residence

Price Type --

It's the Acacia being built at our newest community of Mystic in Peoria. Barnett Maple Latte cabinets throughout with 42'' kitchen uppers soft close drawers and doors in the kitchen. Wood laminate floor Casita Court with 5'' baseboards and 3 1/4'' door casings in all areas of the home except beds/closets. Large walk in shower at owner's bath with tile on the surrounds and floor. Stainless steel gas appliances including a 30'' cooktop and glass canopy hood. Pavers at drive, walk and entry. Tile in tub & shower surrounds in Bath 2. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 303.

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22685 E Saddle Way Queen Creek, AZ 85142

$579,990

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6740903

Property Type Single Family Residence

Price Type --

**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Topaz plan is highly sought after and is the decorated model floorplan with 3 bedrooms and 2.5 baths. Options for structural upgrades include adding a butler's pantry, teen room, 12'' sliding glass door and so much more. This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances . Amazing spa like primary suite with dual vanities, ample linen storage and separate tub and shower. This floorplan is accompanied by an oversized den and sizable secondary bedrooms. This home comes standard with 10' ceilings, front yard landscaping, paver driveway, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

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611 E Aurora Drive San Tan Valley, AZ 85140

$579,990

4 Beds

3 Baths

2,568 SqFt

Status Active

MLS # 6708527

Property Type Single Family Residence

Price Type --

Edgewood Villas by K. Hovnanian Homes is a beautiful single-story community in the Queen Creek Corridor. This Warren plan home features Loft inspired curated interior selections. Cooking will be a breeze in the upgraded kitchen with Admiral Blue Cabinetry accented with floating shelves, White Quartz counters, and appliance pkg. including a gourmet Bosch cooktop. The open great room is perfect with a large sliding glass door that brings the outdoors in. A Media Room is perfect for Movie night or a flex room. Relax in the Primary Suite with a spa like bath featuring dual vanities and a freestanding soaking tub. ^^^Up to 6% of Base Price can be applied towards closing cost & limited time restrictions apply. The home is a Department of Energy certified ''Zero Energy Ready Home'' with solar prewire and an EV charging outlet.

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728 E Aurora Drive San Tan Valley, AZ 85140

$579,990

5 Beds

3 Baths

2,144 SqFt

Status Active

MLS # 6721268

Property Type Single Family Residence

Price Type --

Discover Edgewood Villas located in the Queen Creek Corridor. This home features a beautiful kitchen, artfully designed with Dark grey cabinets and marble inspired Quartz counters, surrounding a large island perfect for entertaining. The adjacent dining area and great room are illuminated by a 12' multi-slide door that merges indoor and outdoor spaces. Unwind in the primary suite, complete with a resort like bath appointed with a walk-in shower and tub for ultimate relaxation. Convenience meets functionality with an attached 2-car garage, providing ample space for vehicles and tools alike. ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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5628 W Paseo Way Laveen, AZ 85339

$579,990

4 Beds

3.5 Baths

2,623 SqFt

Status Active

MLS # 6740493

Property Type Single Family Residence

Price Type --

''Discover the perfect blend of style and functionality in The Jade, a meticulously designed 4-bedroom, 3.5-bath home offering just over 2,600 square feet of luxurious living space. This stunning residence features a striking modern desert exterior with a charming paver driveway, setting the stage for a refined and welcoming interior. Step inside to be greeted by a beautifully appointed formal dining room, enhanced by a convenient butler's pantry, ideal for seamless entertaining. The heart of the home, the kitchen, is a chef's delight with its sleek 42-inch upper cabinets. The kitchen island contrasts elegantly with gray cabinetry and is complemented by matte black hardware, while the pristine white quartz countertops and neutral gray backsplash add a touch of sophistication. Top-of-the-line stainless steel appliances, including a refrigerator, gas stove, microwave, and dishwasher, are perfectly paired with a single-bowl stainless steel undermount sink and an upgraded faucet for a contemporary finish. Enjoy the convenience of 6x36 wood-like tile flooring throughout the main areas, paired with 9-foot ceilings and 8-foot interior doors that enhance the sense of space and openness. The expansive living room features a large 4-panel sliding glass door that seamlessly connects indoor and outdoor living, offering a light-filled, airy ambiance. The layout is thoughtfully designed with secondary bedrooms positioned at the front of the home, providing a private retreat for family or guests. The serene primary suite, tucked away at the back, is a true sanctuary. It boasts a spacious layout and an indulgent bathroom with dual square sinks, quartz countertops, and upgraded matte black fixtures. Quartz surrounds for the shower and countertops add a luxurious touch to your daily routine. Additional features include a 3-car garage with a convenient garage door opener, pendant prewiring in the kitchen, and a washer and dryer for added convenience. With its blend of modern amenities and thoughtful design, The Jade offers the perfect setting for comfortable and stylish living. Experience the refined elegance of The Jade Floorplanwhere every detail is designed with your comfort and convenience in mind.

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20233 W Catalina Drive Buckeye, AZ 85396

$579,990

4 Beds

2.5 Baths

2,224 SqFt

Status Active

MLS # 6655189

Property Type Single Family Residence

Price Type --

It's the stunning Crimson and it's nearly complete. 3 bedrooms + flex space to use as you wish, 2.5 baths and a 3 car tandem garage. Large walk-in shower at owner's bath, Multi slide door that leads out to the extended covered patio which is perfect for entertaining. Pavers at drive, walk and entry. Stainless steel gas double oven with a 36'' cooktop and canopy hood. 42'' kitchen upper Espresso cabinets and Himalaya white granite countertops in kitchen and at the enhanced kitchen island. Upgrade flooring includes EMS Baccarat 12x24 tile in all areas of the home except bedrooms/closets. 5'' baseboards and door casing throughout. Dual sinks at bath 2. Stub out for future BBQ, garage service door, 8' tall garage doors, preplumb for soft water and so much more.

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