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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16747 W Adams Street Goodyear, AZ 85338

$480,000

5 Beds

3.5 Baths

2,704 SqFt

Status Active

MLS # 6691651

Property Type Single Family Residence

Price Type --

Need space and 5 bedrooms? This home will provide that and more! Check out this 5 bedroom home with an upstairs loft. 3 and half bathrooms offer plenty of privacy with a full bedroom and bathroom downstairs. The newly updated flooring and paint make this a turnkey home. Shutters throughout will add privacy and shade when needed. Primary bedroom features an en suite bathroom, walk in closet, double vanities, garden tub & separate shower. Close to nearby parks and playgrounds, walking/biking paths, and only minutes from major shopping centers and quick access to the I10 and 303 Freeways. Call for more info!

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401 N 109th Drive Avondale, AZ 85323

$480,000

3 Beds

2.5 Baths

1,935 SqFt

Status Active

MLS # 6693064

Property Type Single Family Residence

Price Type --

Ready this summer! Two-story Whatley floorplan with Mid-Century style exterior. The spacious kitchen features stainless steel appliances with gas cooktop and a large island, with ample sitting space, overlooking the dining and sitting areas. The stylish kitchen cabinetry in a creamy white tone is complemented by upgraded quartz countertops. The second floor features a loft, the owner's suite and two additional bedrooms. Upgraded flooring includes wood-color tile plank throughout the first floor, all bathrooms, and laundry room, plus plush, upgraded carpet upstairs. The owner's suite has a walk-in closet and private bathroom with a spacious vanity featuring double sinks, cabinet drawers and step-in shower. Great home with spacious sitting and socializing areas. Home warranty included.

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4624 E Bohl Street Phoenix, AZ 85044

$480,000

3 Beds

2 Baths

1,670 SqFt

Status Active

MLS # 6694707

Property Type Single Family Residence

Price Type --

Perfect retreat in a vibrant adult community with recent updates! Inviting 3-bedroom, 2-bathroom home welcomes you with a cozy fireplace in the family room. Recent upgrades including new paint, baseboards, flooring, appliances, and a water heater ensure modern comfort and convenience throughout. The kitchen and bathrooms boast new countertops. Outside, the low-maintenance backyard offers privacy and tranquility, with stunning mountain views providing a picturesque backdrop for outdoor enjoyment. With excellent community features to enhance your lifestyle, including amenities tailored to adult residents, every day in this welcoming community promises a new opportunity for leisure and relaxation. Close to hiking trails, Sky Harbor airport & Golf courses.

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4650 N 103rd Avenue Phoenix, AZ 85037

$480,000

4 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6695363

Property Type Single Family Residence

Price Type --

Great opportunity to owned a completely remodel home with brand new tile and carpet all around the house you wont be disappointed with multiple upgrades.

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4431 W Keating Circle Glendale, AZ 85308

$480,000

3 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6695480

Property Type Single Family Residence

Price Type --

Check out this fabulous 3 bed, 2 bath residence now for sale! Nestled on a premium cul-de-sac lot & featuring charming curb appeal, a lush front yard, a 2 car garage w/extended driveway, and an RV gate, it's sure to be the home for you! Inside you'll find spacious dining & living areas w/elegant wood-look tile flooring, plantation shutters, a warm beehive fireplace, and crisp palette throughout. Hone your cooking skills in this gorgeous kitchen, comprised of ample cabinetry w/crown moulding, granite tile counters & backsplash, SS appliances, recessed lighting, a pantry w/a sliding barn door, and an island complete w/a breakfast bar. The primary bedroom is a true retreat, boasting soft carpet, a walk-in closet, a private ensuite, and direct access to the home's cozy Arizona room! Laundry room also includes built-in cabinetry & stylish French doors! Finally, the expansive backyard showcases a covered patio w/an outdoor fireplace and a sparkling blue pool! This wonderful Community will give you access to everything from a tennis court to a lap pool What are you waiting for? Act now!

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1851 E Vinedo Lane Tempe, AZ 85284

New

$480,000

3 Beds

2 Baths

1,738 SqFt

Status Active

MLS # 6695863

Property Type Townhouse

Price Type --

Welcome to your dream townhome, nestled in a friendly community. This immaculate 3-bed, 2-bath townhome boasts an array of features. The primary bedroom is conveniently located on the main floor, complemented by an en-suite bathroom. The additional two bedrooms on the upper floor provide ample space for family, guests, or a home office, ensuring everyone has a place of their own. The heart of this home is undoubtedly the charming garden patios perfect for enjoying your morning coffee and ideal for entertaining or relaxing under the stars. The garage features durable epoxy floors, combining style with functionality and providing a clean, finished look that's easy to maintain. With its thoughtful layout and prime location, this townhome offers the perfect blend of comfort and convenience.

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1985 Doe Circle Heber, AZ 85928

$480,000

3 Beds

1.5 Baths

1,884 SqFt

Status Active

MLS # 6696501

Property Type Single Family Residence

Price Type --

INSTANT EQUITY! $485K APPRAISAL! Imagine yourself enjoying AMAZING PANORAMIC views of the Mogollon Rim sitting on your wrap around covered deck on this quiet cul-de-sac. The loft area is being used as 3rd bedroom still leaving a large loft living area It also offers a large 2 car garage with a separate workshop in the back for those extra projects, basement also has additional storage and having permanent siding and a metal roof make for low maintenance) This lot also has a second septic that has never been used and could be another home site. Water heater is 2 years old, stove and fridge are 1.5 years old. Second refrigerator on rear patio also included. There are washer/dryer hook ups both in the basement and rear patio area. There is a hook up for a whole home generator on rear

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6605 W Whispering Wind Drive Glendale, AZ 85310

$480,000

3 Beds

2 Baths

1,663 SqFt

Status Active

MLS # 6696849

Property Type Single Family Residence

Price Type --

Welcome to this charming home, where comfort meets convenience! Providing 3 beds, 2 baths, & a 2-car garage. Discover an inviting interior featuring tons of natural light, a neutral palette, tile & wood-look flooring in all the right places, and vaulted ceilings that add to the airy feel. Perfect for gatherings & entertaining, you'll love the separate family room and a desirable great room w/surround sound! The kitchen boasts built-in appliances, a pantry, ample wood cabinetry, and a pass-through window. Enter the main bedroom to find plush carpet, and a private bathroom. Storage closets are added perks! Outback, you have a covered patio, well-laid pavers, garden bed, storage shed, and additional seating area. Near A+ rated schools, CCV, Lifetime, shopping centers and more!

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4182 E Blazer Road San Tan Valley, AZ 85140

Open House

$480,000

4 Beds

3 Baths

2,026 SqFt

Status Active

MLS # 6697441

Property Type Single Family Residence

Price Type --

Start living in this 4-bed, 3-bath home in Archer Meadows! Displaying a 2-car garage & RV gate. Well-maintained interior boasts designer paint, upscale ceiling fans, plantation shutters, wood-look tile flooring, & chic light fixtures. The sliding glass doors from the harmonious great room offer easy access to the back patio. Open-concept kitchen features a handy pantry, ample cabinets w/crown moulding, subway tile backsplash, built-in appliances, solid surface counters, & a prep island w/a breakfast bar. You'll also have a bonus room that is ideal for a TV area/reading nook. Sizable main bedroom provides plush carpet, a bathroom w/dual sinks, & a walk-in closet. Low-care backyard awaits, which includes a covered patio & artificial turf. A rare find like this will sell fast!

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8231 W Encinas Lane Phoenix, AZ 85043

$480,000

5 Beds

3 Baths

2,486 SqFt

Status Active

MLS # 6698734

Property Type Single Family Residence

Price Type --

Spacious residence featuring 5 bedrooms and 3 bathrooms situated in the picturesque west side neighborhood of Tuscano. Recently renovated with fresh flooring, the house showcases a modern kitchen equipped with Procraft soft-close cabinets, quartz countertops, and stainless steel appliances. A new 5-ton AC unit has been installed along with designer fans, lighting fixtures, and other amenities throughout. The master suite upstairs offers a custom shower and expansive walk-in closet, while the additional bathrooms feature new tubs and tile. Outside, a vast backyard awaits, perfect for entertaining. Conveniently located near parks, schools, and shopping centers.

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13733 W Franciscan Drive Sun City West, AZ 85375

$480,000

2 Beds

2 Baths

2,103 SqFt

Status Active

MLS # 6699582

Property Type Single Family Residence

Price Type --

PRIVATE POOL + UPDATED SAN CARLOS MODEL. The solar panels are owned. There are no lease payments, save money on electricity! The AC was replaced in Oct 2021 and has a transferable warranty. This 2103 Sq. Ft. home is perfect for entertaining. If you need an office, workshop, or sewing room check out the interior laundry room which is appropriately 10' x 20'. All appliances are included. Fully fenced backyard. Great location, no HOA fees, low taxes, and close to RH Johnson's Recreation Center. Walk through this house and check out its floorplan by watching the 3D Virtual Tour which is displayed with the photos of this home. This listing has a REAL virtual tour, not a slide show. You can scroll up, down, and all around to get a good idea of what this home looks like, inside and out.

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1209 E Northshore Drive Tempe, AZ 85283

New

$480,000

2 Beds

2 Baths

1,144 SqFt

Status Active

MLS # 6699829

Property Type Apartment

Price Type --

Introducing a rare gem in the coveted community of Runaway Point in The Lakes! This updated waterfront end unit condo boasts unparalleled views & an array of amenities. Revel in the stunning scenery from the patio, family, & dining areas. Inside, discover a modern kitchen w/ granite countertops & stainless steel appliances, complemented by a separate pantry. The master en-suite has been luxuriously updated, while newer HVAC & water heater ensure comfort & efficiency. Enjoy additional patio access from both bedrooms, along w/ outdoor storage in the carport. Community perks include Pickleball, pools, a fitness center, tennis courts, & more. Conveniently located near shopping, dining, entertainment, ASU, freeways, and the airport, this home offers the epitome of lakeside living.

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