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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10722 E Tallahassee Avenue Mesa, AZ 85212

$579,900

2 Beds

2 Baths

1,637 SqFt

Status Active Under Contract

MLS # 6725089

Property Type Single Family Residence

Price Type --

ENCORE, Active Adult Living at its best! Nicely appointed Charleston model, offering a split great room plan with 2 bedrooms, 2 baths, and den. Two tone paint and wood look tile throughout except bedrooms. Kitchen offers upgraded cabinets, upgraded granite counters, large island with seating, stainless steel GE Cafe appliances including a gas stove, sensor goose neck faucet, pendant lights and walk-in pantry. Large laundry room with utility sink. The multi-slider looks out onto the lush landscape, extended covered patio with travertine overlay and sparkling pool with pebble sheen finish, pop up cleaning system and stacked stone water feature. Encore has an award winning club house with workout facility, bocci ball, tennis & pickle ball courts and much much more!.

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20406 E Estrella Road Queen Creek, AZ 85142

$579,900

4 Beds

3 Baths

1,959 SqFt

Status Active

MLS # 6753145

Property Type Single Family Residence

Price Type --

This home is a true gem! Located on a corner lot, this stunning estate features designer finishes and décor throughout, and is just a short walk or bike ride from Queen Creek's top shopping, dining, and entertainment spots in the heart of Queen Creek. With upgrades made during construction and even more added after, this four-bedroom, three-bath home is a standout in the highly sought-after Victoria Heights community. The bright, airy kitchen is equipped with white soft-close cabinets, stainless steel appliances, a gas cooktop, built-in microwave, and a spacious walk-in pantry. The backyard is perfect for entertaining, featuring a large, covered patio, a beautiful mix of pavers and turf, and plenty of room for a future pool. Situated in a prime Queen Creek location, it's just a short walk to greenbelts, parks and other local amenitiesoffering quality living at its best!

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20581 N Enchantment Pass Maricopa, AZ 85138

$579,900

4 Beds

3 Baths

2,528 SqFt

Status Active

MLS # 6650676

Property Type Single Family Residence

Price Type --

Stunning home located in the highly desirable Province adult community! Original owners who have taken immaculate care of this home. This is a split floor plan and is one of the very few built with a separate entry guest house / casita room. Located across the street from a greenbelt with a beautiful open floor plan and no neighbors behind. Entertainers kitchen with granite countertops and S/S appliances. Home features newly painted inside and out, shutters throughout, upgraded doors, large laundry / utility room, upgraded installation. Home has two large AC units with three zones to control heating and cooling. Backyard is professionally designed with private patio are with pavers, fire pit, beautifully landscaped with a newly private spa - 2 years old.

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1327 E Granada Street Mesa, AZ 85203

$579,900

4 Beds

3 Baths

2,334 SqFt

Status Active Under Contract

MLS # 6726853

Property Type Single Family Residence

Price Type --

Gorgeous 4 bedroom 3 bath home. Elegant entry with Vaulted ceilings and Gorgeous Crystal Chandelier's opens to Living and Dining rooms. Continue on to Large kitchen with quartz counter tops, tile back splash large pantry area and upgraded appliances all refurbished in 2021. Cozy family room with fireplace. Wood Floors and White shutters throughout Living, family & dinning rooms. Each of the 3 Baths have beautiful cabinets with quartz counter tops. The upstairs hall bath ,also, includes new bathtub, shower surround and tile floors, updated August 2024. Air Conditioner and Heat Pump new in 2018. Roof replaced 2017. It's an Immaculate home ready for New Owner's!

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12035 W Red Hawk Drive Peoria, AZ 85383

$579,900

2 Beds

2 Baths

1,817 SqFt

Status Active

MLS # 6686277

Property Type Townhouse

Price Type --

Pristine Cachet townhome located in the highly desired Blackstone community, quietly nestled in a private court. Former model home w/ spacious floorpan offering 2 large bedrooms, 3 full baths, high-end upgrades throughout to incl designer slate flooring, built-in shelving, (3) gas fireplaces for the stunning AZ nights, custom iron front screen door, prvt study w/ built-in desk, plus a gourmet kitchen w/ cabinets & granite. The family room has many windows for natural light, beautiful french doors that lead to the prvt backyard. Elegant spa/pool combo paired w/ a relaxing water feature, covered patio, side yard surrounded by mature trees enhanced w/ a prvt front courtyard & fireplace. Large 2-car garage equipped w/ AC, built-in cabinets & upgraded concrete driveway. Int & Ext just painted.

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4226 S Hassett -- Mesa, AZ 85212

$579,900

5 Beds

3 Baths

3,120 SqFt

Status Active Under Contract

MLS # 6742372

Property Type Single Family Residence

Price Type --

This spacious home touting 5 large bedrooms, a possible 6th and 3 bathrooms with over 3100 square feet of living space is an absolute amazingly-priced gem. Walk-in closets in all bedrooms and an extra loft area provide ample space for the whole family. RV gate opening to the large backyard. This close-to quarter acre property has so much to offer!

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500 E Encinas Avenue Gilbert, AZ 85234

$579,900

3 Beds

2 Baths

1,886 SqFt

Status Active

MLS # 6690432

Property Type Single Family Residence

Price Type --

This charming home is ideally situated just a few blocks from the vibrant heart of downtown Gilbert's heritage district, offering easy access to bustling nightlife, cozy coffee shops, delightful breakfast spots, and the local VFW. Additionally, the area is rapidly growing with an array of new shops and stores. Nestled within a welcoming community, this property boasts a large lot complete with a pristine swimming pool and enjoys north-south exposure. It has been meticulously maintained by the same owners for more than twenty years. Inside, you'll find a formal dining room, an eat-in kitchen with a breakfast bar, and a great room featuring a wood-burning fireplace—all designed to warm the heart. Adding to its appeal, the home includes a spacious 31 x 16 addition currently set up as a dual home office with built-in desks. The generously sized bedrooms are located on the east side of the home, while both bathrooms and the kitchen have been updated over time. As an added bonus, all the ceiling fans in the home are top notch. Many with remotes and they are a great accent! Just a short walk away lies a community park with a children's play area and ample space for family and pets to enjoy. Having been a beloved family home where a lifetime of memories was created, the owners are now ready to pass it on to someone new. This house is a must-see, offering you the chance to make it your next home.

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12687 W Paradise Lane Surprise, AZ 85378

$579,900

4 Beds

3 Baths

2,683 SqFt

Status Active

MLS # 6597550

Property Type Single Family Residence

Price Type --

Exquisite 4-bedroom, 3-bath NEW Construction home boasting custom flooring and paint! Gourmet kitchen adorned with quartz counters, new stainless-steel appliances, and walk-in pantry, The master suite offers space and luxury in the master bath. Bedrooms are generously sized, with an additional on-suite. Enjoy gatherings in the spacious great room, featuring pre-wired TV's and Cameras. The house is energy-efficient with a multitude of features including foam insulated 2x6 walls, attic and LED recessed lighting throughout. A perfect blend of style and functionality awaits in this stunning property and entertainer's haven. For a complete list of upgrades and energy saving features see the document table on this listing.

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296 W Burtons Lane Tonto Basin, AZ 85553

$579,900

3 Beds

3 Baths

2,240 SqFt

Status Active

MLS # 6695245

Property Type Single Family Residence

Price Type --

Nestled amidst the serene landscape of Tonto Basin, this exquisite property at 296 W Burtons Lane offers a unique blend of luxury and tranquility. Spanning over 6.14 acres of pristine land, you're guaranteed privacy with no possibility of neighbors building close by. The estate boasts a fully-equipped RV hookup, perfect for the adventurous at heart. The grounds are a horticultural delight with multiple fruit trees dotting the landscape, providing both shade and bounty. The residence itself offers phenomenal views of Mount Ord, Four Peaks, and Picture Mountain, ensuring a picturesque backdrop to your daily life. Inside, the home welcomes you with a totally remodeled kitchen, featuring Brazilian granite countertops, a spacious walk-in pantry, and all new appliances. The property also includes horse stalls, catering to equestrian enthusiasts. Also, the brand-new bridges across Tonto Creek to be finished in June.

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13442 W Blackstone Lane Peoria, AZ 85383

$579,900

2 Beds

2 Baths

1,827 SqFt

Status Active

MLS # 6624856

Property Type Single Family Residence

Price Type --

Like NEW 2021 Built '' Vibrant Situated on an OVERSIZED Lot with N/S Exposure in Award Winning Trilogy at Vistancia. TREMENDOUS Curb Appeal with Mature Lush Desert Landscape, Stone Accent and PAVER Driveway. Backyard with Putting Green .Inside includes Neutral Palette , ALL Tile Flooring along with 9FT Ceilings and Window Treatments T/0. Beautiful Kitchen with Large Granite Island , Designer Backsplash. and Rich Dark Cabinetry. Primary BR with LARGE Closet . BR 2 is Split with South Exposure . Bath 2 with Soaking Tub. Gorgeous Den with Built Ins and French Doors - Would make a Great 3rd BR. Backyard with Expanded Covered Patio , Travertine & Putting Green . Smart Space for extra storage or Office. This Home is in Terrific Condition . Sellers are MOTIVATED . Home is available TURNKEY

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25799 S 226th Street Queen Creek, AZ 85142

$579,899

4 Beds

2.5 Baths

2,407 SqFt

Status Active

MLS # 6606963

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite single-family residence boasts 4 beds and 2.5 bath, providing ample space for comfortable family living & entertaining. Step inside to discover a well-appointed interior that combines modern elegance with timeless design. The open-concept floor plan seamlessly connects the living, dining, & kitchen areas, creating a warm & inviting atmosphere. The kitchen is a chef's delight, featuring top-of-the-line appliances, granite countertops, & a generous island that serves as the focal point for culinary creations & casual gatherings. The four bedrooms are thoughtfully designed, offering privacy & comfort to all occupants. Outside, the property continues to impress with a huge backyard space. It's a blank canvas awaiting your personal touch. Built in 2021 & situated minutes away from Queen Creek's entertainment hub, you'll enjoy the convenience of nearby amenities, excellent schools, & easy access to shopping, dining, movie theaters and a variety of entertainment options. This property truly offers the best of both worlds - a peaceful suburban retreat with a front-row seat to all the entertainment you desire. surrounded by lush green areas, amazing playgrounds, & a super cool community pool area!

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16013 W Alameda Road Surprise, AZ 85387

$579,850

3 Beds

3 Baths

2,159 SqFt

Status Active

MLS # 6742996

Property Type Single Family Residence

Price Type --

Owned Solar !!! Enjoy the savings with Solar Panels. Welcome to this charming home in Escalante! This Fulton floorplan has 3 spacious bedrooms, a study, 3 bathrooms, and a 3-car tandem garage! Gourmet kitchen with stunning cabinetry, granite countertops, stainless-steel built-in appliances, a walk-in pantry, and a kitchen island with a breakfast bar and beautiful pendant lights. There is a gas stub in kitchen for easy conversion to a gas cook top. The great room has surround sound and a center-open extended-length sliding glass door. The primary suite is spotless with a lavish ensuite bathroom featuring an oversized tiled shower, a dual sink vanity, and a walk-in closet. Bedrooms 2 and 3 are move-in ready with ceiling fans and blinds! The backyard is pristine with easy care landscape and a covered patio. Do not miss out on this spotless home! Escalante is a vibrant home community offering an array of top-tier amenities designed for active and leisurely lifestyles. Enjoy a massive resort-style pool with shaded areas to keep you cool, multiple lighted sport courts for evening games, and a challenging disc golf course. Enjoy the expansive playground, while residents can also indulge in table tennis, bocce ball, and a dedicated volleyball court for endless entertainment and relaxation.

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