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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17943 W Townley Avenue Waddell, AZ 85355

$484,999

4 Beds

3 Baths

2,045 SqFt

Status Active

MLS # 6691608

Property Type Single Family Residence

Price Type --

Amazing opportunity to move into a newly built(2023) move-in ready popular Sapphire open floor plan with mountain views. This home has 4 bedrooms,3 full bathrooms and teen/great room.The kitchen boast stainless-steel appliances, quartz countertops and a center island that opens up to spacious living area that has large sliders, which open up to a beautiful finished backyard landscaping. The primary suite showcase a generous walk-in closet and upgraded primary bath.Home has a Tesla charger installed in garage. Super friendly and quiet neighborhood with multiple parks that are walking distance. Minutes away from tons of shopping, new commercial development,Costco and White Tank Foothill hiking and campground. Home is nearby great schools (Legacy/American leadership academy. Don't miss out!

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18626 W Honeysuckle Drive Surprise, AZ 85387

$484,995

3 Beds

3 Baths

2,092 SqFt

Status Active

MLS # 6645411

Property Type Single Family Residence

Price Type --

Explore this exceptional Emerald home on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; 3 Bedroom and Study, a well-appointed kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a roomy pantry and a center island; an elegant dining room; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops and shower bench; a large living room; a convenient laundry; an additional suite with living room space and its own separate entry door, bedroom and 3rd Bath, a covered patio and a 3-car garage. This home also offers wood laminate flooring, ceiling fan prewiring and additional windows in select rooms.

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19582 W Cambridge Avenue Buckeye, AZ 85396

$484,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6697500

Property Type Single Family Residence

Price Type --

Explore this thoughtfully designed Slate home, ready for quick move-in on a homesite boasting front yard landscaping and driveway pavers. Included features: an inviting covered entry; an impressive kitchen layout offering 42'' cabinets, stainless-steel appliances, quartz countertops, a center island and a roomy pantry; an open dining area; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a covered patio and a 2-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms.

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4016 N 152nd Drive Goodyear, AZ 85395

Open House

$484,995

3 Beds

2 Baths

1,829 SqFt

Status Active

MLS # 6693331

Property Type Single Family Residence

Price Type --

Welcome home to this amazing 3 bedroom split floorplan. As you enter you will be greeted with your open kitchen & family room with vaulted ceilings. Kitchen has been fully updated with white shaker cabinets w/ soft close, granite counter tops with waterfall edge, stainless steel appliances & matte gold hardware. Living room boasts cozy fireplace with decorative feature wall. LVP flooring throughout home. Bathrooms tastefully updated with modern tile, cabinetry & fixtures. Lush backyard with large covered patio perfect for entertaining or just relaxing. All lighting has been updated. 2 car garage w/ attached cabinets. Come enjoy the Pebblecreek lifestyle!

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24250 W Fraktur Road Buckeye, AZ 85326

$484,990

5 Beds

4.5 Baths

3,131 SqFt

Status Active

MLS # 6691664

Property Type Single Family Residence

Price Type --

Beautiful Brand New Home in a Highly Desirable West valley location. Features countless upgrades such as 9' ceilings, Shaw 17x17 Tile, Granite countertops in the kitchen. Whirlpool Stainless steel appliances. White shaker cabinets. Energy-efficient features throughout, WIFI & programmable thermostat. Spacious walk-in closet in the primary suite. Front yard landscaping, covered patio in the backyard. The community includes Park,basketball court and dog park. Conveniently located near the new I-10 freeway, schools, shopping and dining.

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5609 W Willow Ridge Drive Laveen, AZ 85339

$484,990

5 Beds

3 Baths

2,688 SqFt

Status Active

MLS # 6699451

Property Type Single Family Residence

Price Type --

Beautiful Brand New Corner Home in a Highly Desirable Central Location - Featuring countless upgrades such as 9' ceilings, Shaw - Milan - Surf 17x17 Tile, Granite countertops in the kitchen. Whirlpool Stainless steel appliances. White cabinets. Energy-efficient features throughout, Programmable thermostat, gas heater, gas range. Spacious walk-in closet in owners suite. Front yard landscaping, covered patio in the backyard. Spectacular Mountain Views! Minutes from downtown Phoenix in a master-planned community featuring walking trails, greenbelts, neighborhood parks and playgrounds. Conviniently located off the Loop 202 and near schools, shopping and dining!

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1004 Avenida Ciervo -- Rio Rico, AZ 85648

$484,900

3 Beds

2.5 Baths

2,362 SqFt

Status Active

MLS # 6664459

Property Type Single Family Residence

Price Type --

MOUNTAIN VIEWS! Embrace the opportunity to become the proud owner of this meticulously maintained haven in Rico Rico! Prepare to be impressed by the inviting interior, featuring tile flooring, vaulted ceilings, designer paint, & surround sound. Flawlessly flowing open layout offers large sliding glass doors that lead to the back patio, creating an effortless indoor/outdoor connection. Chef's kitchen is a highlight, boasting recessed & pendant lighting, ample cabinets, a walk-in pantry, stainless steel appliances, granite counters & backsplash, & an island w/a breakfast bar. Romantic main retreat includes direct outdoor access, an ensuite w/dual sinks, & a walk-in closet. Lastly, the serene backyard provides a full-length covered patio & a convenient storage shed. Don't wait any longer!

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8841 W Watkins Street Tolleson, AZ 85353

$484,900

4 Beds

3 Baths

2,363 SqFt

Status Active

MLS # 6693968

Property Type Single Family Residence

Price Type --

You don't want to miss this beautiful two-story home awaiting its new owners! Offering a low-care landscape, a 2-car garage, & a delightful front porch. The welcoming interior boasts a living/dining room w/high ceilings, designer's paint, charming light fixtures, & wood-style vinyl flooring t/out. Sizable open layout has a media niche & access to the backyard. Kitchen is equipped w/ample counter space, wood shaker cabinetry, recessed lighting, a pantry, & an island w/a breakfast bar. Find a cozy loft ideal for a hobby space! Primary bedroom has balcony access, a full ensuite w/dual sinks & a walk-in closet. The entertainer's backyard invites you to unwind & have fun! It provides a covered patio, a built-in BBQ, a fire pit, & a crystal blue pool & spa. Hurry! This gem will not disappoint!

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3719 E Inverness Avenue Mesa, AZ 85206

$484,900

3 Beds

2.5 Baths

1,935 SqFt

Status Active

MLS # 6697264

Property Type Single Family Residence

Price Type --

Must see this beautiful home conveniently located off the 60 freeway & minutes away from DANA PARK VILLAGE SQUARE for excellent shopping and dining experience! Freshly painted inside & new carpet this month 4/2024! 3 bedrooms plus a loft & 2 bathrooms upstairs. You will fall in love with the vaulted ceilings in the spacious living room. The kitchen offers granite countertops, freshly painted white cabinets with SS appliances. Gorgeous neutral colored wood look plank tile. Epoxy flooring in the garage Plus newer roof and air conditioning unit makes this home move in ready! You will also love the cul-de-sac street that it sits on & the north-south exposure. Enjoy Summer fun at the community pool & then lunch at near by restaurant's! This home is CLEAN and BEAUTIFUL, MAKE IT YOURS TODAY!

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13245 N 37th Way Phoenix, AZ 85032

$484,900

3 Beds

2 Baths

1,366 SqFt

Status Active

MLS # 6697702

Property Type Single Family Residence

Price Type --

This delightful 3-bedroom, 2-bath home is the one you're looking for! The updated interior boasts an inviting living room with a soothing palette and attractive wood-look flooring. The eat-in kitchen is equipped with quartz counters, a blend of pendant and recessed lighting, sleek white shaker cabinets, stainless steel appliances, a pantry, and a peninsula with a breakfast bar for casual dining. The main bedroom is complete with a mirrored closet and a private bathroom for added comfort. Outside, the backyard includes a covered patio and ample space to design your dream oasis. This value won't disappoint!

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3341 N Brooklyn Drive Buckeye, AZ 85396

$484,900

4 Beds

3 Baths

2,579 SqFt

Status Active

MLS # 6703418

Property Type Single Family Residence

Price Type --

Step into this meticulously maintained 4-bedroom, 3-bathroom haven boasting a den, family room, and media room, all refreshed with contemporary flair. This corner-lot gem, complete with leased solar panels, welcomes you with its sun-soaked open-concept design, where airy spaces blend seamlessly with updated vinyl floors and plush carpets installed in 2022. Whether you're entertaining in the formal dining area or enjoying casual meals in the eat-in kitchen, every corner exudes warmth and comfort. Embrace indoor-outdoor living on the back covered patio overlooking the expansive 14,050 sqft private yard, offering endless possibilities for relaxation and recreation!

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5388 N Sonora Lane Eloy, AZ 85131

$484,900

3 Beds

3.5 Baths

2,489 SqFt

Status Active

MLS # 6623103

Property Type Single Family Residence

Price Type --

Nestled in Robson Ranch Resort, this amazing Integra Block home is thoughtfully designed featuring a Great Room floorplan, 2 bedrooms and 2.5 baths, a den, and a 3-car garage. But that's not all - there's a charming casita w/ 1 Bedroom, and 1 bath, providing space perfect for guests, a private retreat, or your favorite hobby haven. The heart of this home is the spacious kitchen, adorned with granite countertops and ample cabinet space. Step outside to a low-maintenance landscaped yard, spacious enough that a pool can be built on the large corner lot. Come see this home today! The sellers are motivated and its priced to sell! Robson Ranch offers an array of resort features and amenities designed to enhance your lifestyle. Community amenities include the 18-hole golf course, onsite restaurant, state-of-the-art pickleball courts, and heated indoor and outdoor pools and spa, and much more.

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