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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3031 E Colonial Place Chandler, AZ 85249

New

$575,000

3 Beds

2 Baths

2,170 SqFt

Status Active

MLS # 6787735

Property Type Single Family Residence

Price Type --

Welcome to this extraordinary home that boasts both charm and personality! The fabulous interior features vaulted ceilings, tons of natural light, elegant stained glass, gorgeous light fixtures, designer paint & distressed wood floors. With both a separate living/dining room combo, an open-concept family room, this gem has versatile spaces for relaxing & entertaining! The impressive kitchen boasts custom additions such as: coffee station, SS appliances, double ovens, metal stove hood, farm sink, island w/breakfast bar, stone counters & backsplash, roll out shelving, RO, walk-in pantry & antique white cabinetry w stained glass doors. The large main bedroom has a bay window, new carpet, an ensuite w/ dual sinks, separate tub/shower & walk in closet. New Trane HVAC system & ductwork 11/20. PLUS! One bedroom doubles as a den and offers a unique setup, currently serving as a rental with two bedrooms separated by a steel privacy door. This layout provides endless possibilities, whether for a roommate, private office, or in-law suite. Discover your private backyard retreat including a covered patio, pavers, and a Gazebo for entertaining. Home has a 220 electrical outlet ready for a hot tub. Also, there is a large side yard with lovely 8x6 storage shed. NO neighbors behind for added privacy & on a cul-de-sac lot!!! Don't miss this opportunity! New suncreens (7/20),new water heater (8/21), new dishwasher (2/24).

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27602 N Denver Hill Drive Wittmann, AZ 85361

$575,000

5 Beds

3 Baths

2,278 SqFt

Status Active

MLS # 6778733

Property Type Single Family Residence

Price Type --

Welcome to your private desert retreat! A home that offers not just comfort and space, but a true sense of community in a peaceful neighborhood. Set on a quiet dirt road, this property is surrounded by friendly, welcoming neighbors and picturesque land with expansive mountain views. Both levels provide a cozy, private flow between the separate rooms. Designed to accommodate a range of outdoor interests, this property is ready for whatever you envision—from horseback riding, gardening, ATV trails, and more. An RV station with power and water hookups ensures guests can comfortably share in the beauty of this property. Located only 30 minutes from Wickenburg, and 20 minutes from Surprise, this home offers the perfect balance of rural living, without being a far drive from the city.

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905 S Canal Drive Unit 17 Chandler, AZ 85225

$575,000

3 Beds

2.5 Baths

2,092 SqFt

Status Active

MLS # 6779711

Property Type Townhouse

Price Type --

Home Sweet Home! Discover the charm of this beautiful 3-bed, 2.5-bath townhouse in Mission Crossing at Chandler Ranch! This Home exudes elegance with modern light fixtures, neutral paint, tons of natural light, and wood-look tile flooring w/plush carpet in all the right places. You'll LOVE the spacious, perfectly flowing open layout! The impressive kitchen boasts black SS appliances, quartz counters, a pantry, ample white cabinetry, & a large island w/breakfast bar. There is an ample storage room under the stairs! All bedrooms await upstairs, along with a versatile loft. Main bedroom has an ensuite with dual sinks & a walk-in closet. Outback, you have a covered patio, artificial turf, & well-laid pavers. Community Pickleball Court is right next door! Move-in ready!

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16848 W Alice Avenue Waddell, AZ 85355

$575,000

4 Beds

3 Baths

3,017 SqFt

Status Active

MLS # 6784462

Property Type Single Family Residence

Price Type --

Welcome to Northern Farms! This 4Bed+Den/3Bath/3,017sqft home has everything you need & is less than 2 years old! Upon entering, you're greeted by a bright & open floorplan which blends contemporary style w/ modern finishes throughout! Custom stair railings open the space & custom barn doors give it a warm feel. Fire up the built-in electric fireplace on those cool winter nights. Celebrate holiday cooking in the modern kitchen complete w/ quartz countertops & stainless-steel appliances. Custom gazebo w/firepit bench & artificial turf is ready for entertaining & no neighbors behind gives you ultimate privacy. Massive upstairs loft is your perfect game or theatre room. Conveniently located right off of the 303 & Northern. Don't miss your chance to own your dream home today!

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6943 N 88th Drive Glendale, AZ 85305

$575,000

4 Beds

2.5 Baths

2,466 SqFt

Status Active

MLS # 6786607

Property Type Single Family Residence

Price Type --

Stunning 4-Bedroom Home with a Pool, Gourmet Kitchen, and Prime Location 1 mile from the Arizona Cardinals Stadium. This magnificent 2,466 sq. ft. residence boasts 5 spacious bedrooms and 2.5 luxurious bathrooms, perfectly blending comfort and style. Step into the heart of the home—a gourmet kitchen designed for the culinary enthusiast! Featuring granite countertops, a double oven, gas cooktop, and wood-look tile flooring, this kitchen is both functional and elegant, ready to inspire your inner chef. The open floor plan seamlessly connects the kitchen to a spacious living area, ideal for entertaining or cozy family gatherings with 9ft+ Ceilings downstairs as well as upstairs Escape to your private backyard oasis, meticulously landscaped with turf and showcasing a brand-new pool with massive baja shelf. This outdoor haven is perfect for relaxing under the Arizona sun or hosting unforgettable poolside parties. This incredible property is just 1 mile from the Arizona Cardinals Stadium and the exciting new Via Resort, placing you in the heart of Glendale's vibrant entertainment district. Don't miss this rare opportunity to own a slice of paradise with proximity to world-class entertainment, dining, and shopping. Outdoor Projector, Roku, and Outdoor Screen with Attachments can stay with the new owner for Movie nights or to entertain when friends and family are over.

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4512 W Suncup Drive San Tan Valley, AZ 85144

$575,000

4 Beds

3 Baths

2,345 SqFt

Status Active

MLS # 6783153

Property Type Single Family Residence

Price Type --

Look no further! This beautiful 4 bed, 3 bath residence in San Tan Ridge is for you! Charming curb appeal, an easy-care front yard, and a 2 car garage are just the beginning. Come inside to discover a spacious open floor plan w/elegant wood-look flooring and neutral palette throughout. Prepare delicious meals in this gourmet kitchen, comprised of wood cabinetry w/crown moulding, a walk-in pantry, granite counters, subway tile backsplash, SS appliances, and an island w/a breakfast bar. You'll love the primary bedroom, boasting soft carpet, a walk-in closet, and a lavish ensuite w/dual sinks. Don't forget about the cozy den, ideal for an office or reading nook! Lastly, the expansive backyard w/its covered patio, is a blank canvas just waiting for you personal touch! Don't miss out!

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33231 N 43rd Street Cave Creek, AZ 85331

$575,000

3 Beds

2 Baths

1,511 SqFt

Status Active

MLS # 6785534

Property Type Single Family Residence

Price Type --

Discover your dream home in the prestigious gated community of Dove Valley Ranch! Beautifully upgraded single-level property features a desirable great-room floor plan with a split owner's suite, vaulted ceilings, plantation shutters, 5-inch baseboards, and stunning wood-look tile flooring. A brand-new HVAC system ensures year-round comfort.Open kitchen boasts stainless steel appliances, a pantry, a breakfast bar, and an elegant subway marble tile backsplash. Both bathrooms have been thoughtfully updated with granite countertops, under-mount sinks, framed mirrors, and new lighting fixtures. The master bath is a true retreat, featuring custom tile work, an expanded layout, and a frameless glass shower. Step outside to your private, low-maintenance backyard overlooking serene NAOS land no homes behind. The tranquil setting is perfect for relaxation and outdoor enjoyment. Conveniently located near shopping, restaurants, and the Dove Valley Ranch Golf Club, this home truly has it all!

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10312 N 58th Lane Glendale, AZ 85302

$575,000

4 Beds

2 Baths

2,286 SqFt

Status Active

MLS # 6783627

Property Type Single Family Residence

Price Type --

Wow Location! What a GEM! Tastefully updated last 2022, this gorgeous home with POOL will surely impress you. 4beds, 2 baths, low-care landscape, and a 3-car garage w/cabinets. The fabulous interior boasts vaulted ceilings, neutral paint, recessed lighting, archways, and wood-look floors t/out. You'll LOVE the formal living/dining room and the open-concept family room w/fireplace! The surround sound is a plus. The spotless kitchen has SS appliances, quartz counters/backsplash, ample white cabinetry, a walk-in pantry, and a waterfall island w/breakfast bar. The double-door main bedroom offers outdoor access and an ensuite with a soaking tub, dual sinks, & a walk-in closet. Enjoy the entertainer's backyard with a covered patio, artificial turf, well-laid pavers, & a fenced pool! Just Wow,

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15002 W Blue Verde Drive Sun City West, AZ 85375

$575,000

2 Beds

2.5 Baths

1,825 SqFt

Status Active

MLS # 6785005

Property Type Single Family Residence

Price Type --

Beautiful Ventana model on hole 9 of Trail Ridge Golf course with Pool! Views of 3 fairways and the mountains! Landscape and pool area/patio meticulously designed. Home has 2 Bedrooms each with a bath ensuite. Enter the home to the beautiful views with a great room and office/sitting area. Kitchen has a large center island, gas stove top, upgrade refrigerator, wall oven and microwave that adjoins the family room. Powder Room for easy guest/pool access. Large finished laundry room with office. Wood Armoire in laundry room stays with home. Luxury vinyl flooring, New Roof, newly painted and finished driveway and garage flooring! Don't miss this opportunity!

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20972 N Canyon Whisper Drive Surprise, AZ 85387

$575,000

3 Beds

3 Baths

2,101 SqFt

Status Active

MLS # 6786955

Property Type Single Family Residence

Price Type --

This exceptional home with detached casita offers a perfect blend of style, functionality, and versatility. Boasting high ceilings and an open floor plan, the spacious design flows seamlessly, making it ideal for entertaining and everyday living. The expansive kitchen is a chef's dream, featuring abundant storage and plenty of counter space for all your culinary needs. The detached casita/ADU, complete with its own private full bathroom is bright and spacious. Whether you're hosting guests or providing a private space for a family member, this additional unit offers unmatched flexibility. The property is enhanced by mature, low-maintenance landscaping, creating a serene outdoor retreat. The garage features ample storage. Don't hesitate, these homes rarely hit the market.

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11520 W Citrus Grove Way Avondale, AZ 85392

$575,000

4 Beds

3 Baths

2,096 SqFt

Status Active

MLS # 6786868

Property Type Single Family Residence

Price Type --

Multi-Generational/Next Gen custom floor plan with solar! Privacy under one roof. Two primary suites with separate AC units, two hot water heaters, & two kitchens. Living spaces are separated by bonus room. Private entrance to both suites. Plantation shutters throughout. Laminate wood floors, quartz countertops, & stainless-steel appliances. Inviting courtyard that leads to extended patio leading to pool with water feature, all surrounded by lush landscaping.

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14656 W Corrine Drive Surprise, AZ 85379

$575,000

3 Beds

2.5 Baths

2,506 SqFt

Status Active Under Contract

MLS # 6761008

Property Type Single Family Residence

Price Type --

Absolutely perfect home in Marley Park II! IMMACULATELY maintained and HIGHLY upgraded 3 bed/2.5 bath home, split floor plan, half bath for visitors, butlers pantry with sink and large walk in pantry, quartz counter tops, soft close cabinets with pull outs and drawers, extended cabinets and counter tops in Kitchen, large double slide arcadia door that lets beautiful natural light in, OWNED Soft Water system, RO System, Tray ceilings in entry and Owner's suite, pendant lights above island, built in bookcase/shelving in Den/Dining room, Owner's entrance to Laundry Room with sink and cabinets, key drop by entry of garage door, highly sought after 3rd car garage, epoxy flooring in garage, custom multi colored eave lighting, exquisite landscaped back yard with extended patio, pavered driveway with pavers up to zero entry front door, pavered walk ways on both sides of home and gates on both side as well for easy access around home, eave lighting/Irrigation timer/garage door openers/ring/yard lighting are all on apps and automated, home designed with almost everything in mind and not a dollar spared, too much to list, ask your agent for an upgrades list, this truly is a must see.

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