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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15221 N Clubgate Drive Unit 2125 Scottsdale, AZ 85254

$579,000

2 Beds

2 Baths

1,340 SqFt

Status Active

MLS # 6710994

Property Type Apartment

Price Type --

''HUGE PRICE DROP, TAKE ADVANTAGE OF THIS GREAT DEAL. INTEREST RATES ARE FALLING JUMP ON THIS ONE''. THIS UNIT HAS GREAT POTENTIAL. MAKE IT YOUR OWN. BEST PRICED UNIT IN THE COMPLEX. THIS TWO BEDROOM IS IN A GREAT GATED COMPLEX WITH EASY ACCESS TO KIERLAND COMMONS AND ALL IT HAS TO OFFER. WALK TO GOLF COURSE OR ENJOY A CASUAL DAY AT THE POOL. RESORT STYLE LIVING WITH EVERY AMENITY ONE COULD ASK FOR. MAKE THIS YOUR NEW HOME OR WINTER PARADISE. NEW REFRIGERATOR, WATER HEATER AND GARAGE DOOR OPENER.

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5070 W Cortez Street Glendale, AZ 85304

$579,000

3 Beds

2.5 Baths

2,118 SqFt

Status Active

MLS # 6697720

Property Type Single Family Residence

Price Type --

This stunningly upgraded practically new home boasts 3 spacious bedrooms, a versatile Flex/Office/Den, and 2.5 baths. The beautiful kitchen has Quartz countertops, 42'' White shaker cabinets with brushed nickel pulls, a stainless steel sink & stainless steel appliances- refrigerator included!Enjoy the high ceilings, brand new interior paint, beautiful ceramic plank tile flooring, and plush carpeting throughout. The master suite features a luxuriously upgraded tiled walk-in shower, glass shower door, a freestanding soaking tub, dual sinks, and a spacious walk-in closet. Additionally, there's an Office/Den with stylish sliding barn doors, water softener, old-world paver stone driveways, a fully landscaped front & back yard with green turf area. Seller will include 12 months of paid HOA.

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8762 E Posada Avenue Mesa, AZ 85212

$579,000

4 Beds

2 Baths

2,516 SqFt

Status Active

MLS # 6732222

Property Type Single Family Residence

Price Type --

Highly sought-after MOVE-IN READY single level home with 4 spacious bedrooms and 2 full bathrooms! The open kitchen features a large island, granite counters, tile backsplash, and stainlesss steel appliances- perfect for hosting gatherings with family and friends. The walk-in pantry provides ample storage space for all your kitchen essentials. Outside you will find a private pool with a waterfall feature and pergola, perfect for outdoor entertaining and relaxation. The primary bedroom is spacious with a bathroom that offers dual sinks, separate shower/bathtub, and a large walk-in closet. A new AC was installed this year, so you don't have to worry about the heat. Quick access to 202 & 60 freeways! Don't miss out on the chance to make this house your home! Gilbert Schools/Mesa taxes

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1326 W Juanita Avenue Mesa, AZ 85202

$579,000

4 Beds

3 Baths

2,278 SqFt

Status Active

MLS # 6729599

Property Type Single Family Residence

Price Type --

Incredible opportunity for investors looking to secure a property with tenant and lease already in place!!! Gorgeous updated 4 bed/3bath sits on a large lush lot. Updated kitchen with stainless steel appliances. Separate office/den/sunroom adjacent to family room with separate sliding doors to backyard. One bedroom downstairs with bathroom, with remaining 3 upstairs. Lots of updates and great potential for investment property!!!

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13634 S 176th Drive Goodyear, AZ 85338

Open House

$579,000

4 Beds

2 Baths

2,035 SqFt

Status Active

MLS # 6759389

Property Type Single Family Residence

Price Type --

Discover your dream 4 bed, 3 car garage home in this impressive neighborhood nestled in Estrella. Boasting a resort-like backyard with heated Pool & Spa, this stunning property offers the ultimate in comfort and style. Enjoy the flow of the open great room concept, featuring tile flooring, upgraded backsplash, alder cabinetry, & granite countertops. Retreat to the split Owners Suite, complete with a spacious closet & well appointed bathroom. The backyard is an oasis of relaxation with a 16' x 32' pool, gas-heated spa, gas firepit & a custom-built BBQ island. Enjoy outdoor living on this picture perfect patio. Conveniently located near the Presidio Residents Club, this quiet cul-de-sac offers a peaceful and desirable living in the award winning Master Planned Community of Estrella.

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3726 E Rochelle Circle Mesa, AZ 85215

$578,950

3 Beds

2 Baths

1,705 SqFt

Status Active

MLS # 6749729

Property Type Single Family Residence

Price Type --

This is a to be built home being offered at Base Price plus lot premium. Price includes a nice standard feature package and an option allowance to be used at the Design Studio to personalize the home to your tastes. Features include a heavy iron front door, 2x6 ext. framing, dual pane vinyl windows, Carrier gas furnace and AC. Price includes ceramic tile in select areas. Choice of interior door styles, iron front door styles plus choice of door hardware and bathroom fixture colors. 10' interior ceilings, front porch and rear patio included! Much more. Front view picture is of an artists rendering, pics are of a upgraded former model home. Final price is determined by any other options or upgrades added by buyer at the Design Studio. Taxes are estimated. 2025 completion

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19522 N Wasson Peak Drive Surprise, AZ 85387

$578,900

3 Beds

2 Baths

2,014 SqFt

Status Active

MLS # 6749353

Property Type Single Family Residence

Price Type --

Highly sought after FURNISHED expanded Borgata with heated POOL and no neighbors behind! This bright split bedroom floor plan has been beautifully updated. The gourmet kitchen has quartz, stainless steel, and loads of cabinets. The private backyard oasis with large covered patio is perfect for enjoying your morning coffee or entertaining. Extended garage has tons of storage. The home has solar for added savings. The GRAND resort community has four golf courses, tennis, pickle ball, softball, hiking trails, workout facilities, restaurants, classes, and so much more. This is Arizona living at its finest!

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8572 W Palo Verde Avenue Peoria, AZ 85345

$578,900

5 Beds

2 Baths

2,196 SqFt

Status Active

MLS # 6731165

Property Type Single Family Residence

Price Type --

Welcome to your next business opportunity! This spacious 5 beds, 2 baths home with a sprinkler system is ideal for starting or expanding a group home business. Previously licensed for a 10-bed behavior group home, it offers ample room for residents with its professionally converted garage adding extra space. Located in a prime area with easy access to local amenities and healthcare facilities, Its turnkey nature allows for business operations, offering significant growth potential and profitability.

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21245 E Macaw Drive Queen Creek, AZ 85142

$578,275

3 Beds

3 Baths

2,352 SqFt

Status Active

MLS # 6730816

Property Type Single Family Residence

Price Type --

Welcome to this BEAUTIFUL NEW 2024 home in Ascent at Jorde Farms with over $85k in UPGRADES including the landscaped front yard on a premium corner lot! Step inside to the gourmet kitchen w/DESIGNER cabinets, quartz countertops + Whirlpool stainless appliances! The open-concept great room is perfect for gatherings. PRIVATE primary bedroom w/ensuite bath + BIG walk-in closet! 3 bedrooms, 3 full baths + a flex room! Upgraded paint, flooring + MORE! This residence is part of the charming Ascent at Jorde Farms community, with plans for a pool, walking paths, and parks. Great restaurants and shopping nearby! WELCOME HOME!

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18176 W Paradise Lane Surprise, AZ 85388

$578,000

4 Beds

2 Baths

2,230 SqFt

Status Active

MLS # 6760419

Property Type Single Family Residence

Price Type --

Welcome Home! This Meticulously maintained 4 bedroom, 2 bath home backs to a quiet greenbelt with walking trails giving you privacy while enjoying swimming in the custom pool that features a waterfall or relaxing on the covered patio. Enjoy cooking in the gourmet kitchen which includes cherry cabinets, granite countertops, double oven and all new SS appliances. Cozy up next to the gas fireplace in the great room that features 10' tall ceilings and plantation blinds throughout the house. The large primary bedroom features sliding door access to the patio and pool area, an ensuite bathroom, walk in closet with built-ins. Enjoy the oversized three car garage with built-in cabinets and a large laundry room. This home shows like brand new, you wont be disappointed!

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2015 W Davis Road Phoenix, AZ 85023

$578,000

3 Beds

2.5 Baths

2,446 SqFt

Status Active

MLS # 6729202

Property Type Single Family Residence

Price Type --

We would like to welcome you to the amazing and sought after gated subdivision of Northgate. This amazing home is in immaculate condition and has so much to offer we know you're going to love it. Separate living & family rooms. Ceiling fans in all the right places including the spacious bedrooms. The kitchen offers island with breakfast bar, granite countertops, pantry, stainless steel appliances, and upgraded cabinets with plenty of storage space. The primary bath has a garden tub, separate shower, walk in closet, and vanity with double sinks. Plenty of room to relax, play, and entertain in the backyard under the covered patio or in the sparkling swimming pool. Come take a look.

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3887 E Claxton Avenue Gilbert, AZ 85297

$578,000

5 Beds

2.5 Baths

2,523 SqFt

Status Active

MLS # 6732789

Property Type Single Family Residence

Price Type --

Incredible investment opportunity in the award winning Power Ranch community. Spacious 5 bedroom/3bathroom with tenant secured at competitive market rent to 2/28/25. Primary bath has large walk in closet, as does one of the guest bedrooms. Covered patio with flagstone pathway and low maintenance landscape

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