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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120 E Rio Salado Parkway Tempe, AZ 85281

$475,000

1 Bed

1.5 Baths

1,264 SqFt

Status Active

MLS # 6695435

Property Type Apartment

Price Type --

Experience Tempe Town Lake living to it's finest! This beautiful condo has everything you need with a gourmet kitchen and appliances including refrigerator, gas cooktop/oven, DW. Also includes W/D, fireplace, prewired for Surround sound and an extra storage room in the garage! This is the largest one bedroom floorplan available in Edgewater with a large patio offering stunning views of Tempe Town Lake as well as the swimming pool/spa amenity. Walk to all Mill Ave shops and restaurants, the Metro light rail, ASU, & enjoy everything Downtown Tempe has to offer!

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753 E Mariposa Place Chandler, AZ 85225

New

$475,000

3 Beds

2 Baths

1,407 SqFt

Status Active

MLS # 6696624

Property Type Single Family Residence

Price Type --

This is a really sharp home with a fantastic pebble tec pool. The house has vaulted ceilings throughout and a nice open concept kitchen/great room area. Kitchen has white cabinets & stainless steel appliances. The primary bedroom & bath are a nice size with a walk-in closet, dual sinks with private toilet room. The backyard has a large patio and huge pebble tec pool. The property has a 2 car garage with direct access into the home. Nice sized laundry and the washer/dryer are included. The home has tons of natural light, neutral colors throughout & low maintenance vinyl floors in most of home - no carpet.

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4212 E Milky Way Gilbert, AZ 85295

New

$475,000

4 Beds

2.5 Baths

1,711 SqFt

Status Active

MLS # 6695587

Property Type Single Family Residence

Price Type --

This captivating 4-bedroom, 2.5-bathroom home is the epitome of your dream abode! Step into an inviting great room boasting lofty ceilings, a serene color scheme, and a delightful fusion of wood-like and tiled floors. The gourmet kitchen is a culinary haven, adorned with ample white cabinetry featuring elegant crown molding, top-of-the-line built-in appliances, a convenient pantry, subtle recessed lighting, and a center island with a breakfast bar perfect for laid-back dining. Retreat to the primary suite, a tranquil oasis graced with plush carpeting, an ensuite boasting dual sinks, and a generous walk-in closet. Outside, relish in breathtaking sunsets from the well-appointed backyard, showcasing a charming paver patio and lush green lawn. Don't miss out on this exceptional value!

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5202 N 16th Drive Phoenix, AZ 85015

New

$475,000

3 Beds

2.5 Baths

2,211 SqFt

Status Active

MLS # 6696354

Property Type Townhouse

Price Type --

LUXURY, LOCATION ,ENTERTAINMENT AND CHARM ARE ALL HERE .JUST STEPS AWAY FROM THE NIGHT LIFE AND GREAT DINING.THIS 2 STORY, 3 BED PLUS A DEN HOME IN A GATED COMMUNITY WITH A LOW HOA WILL IMPRESS. RUN DONT WALK THIS WILL GO FAST. ENTER TO VAULTED CEILINGS ,LAMINATE WOOD FLOORS AND NUETRAL PAINT. ALL THE APPLIANCES ARE INCLUDED. ALL THE LIGHTING IS LOW E. THE NEW WINDOWS WILL HELP KEEP THE AC BILL LOW.THE PICTURE PERFECT OFFICE IS LITE AND CHEERY WITH FRENCH DOORS THAT OVER LOOK A JULLET BALCONY.PERFECT FOR WORKING FROM HOME.THERE IS A BRAND NEW SMART WATER HEATER WITH WARRANTY.THERE IS ALSO SOFT WATER LOOP .HOA IS REROOFING IN AUGUST AND THE ASSESSMENT WILL BE PAID AT COE. THERES A COMMUNITY POOL AND HEATED SPA GREAT COMPLEX.,,LIGHTRAIL IS NEAR BY. CALL YOUR AGENT NOW...

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3823 E Waterman Street Gilbert, AZ 85297

New

$475,000

3 Beds

2 Baths

1,521 SqFt

Status Active

MLS # 6697026

Property Type Single Family Residence

Price Type --

Welcome to this beautifully upgraded home nestled in the heart of San Tan Ranch. What an opportunity to own this inviting, single-story home featuring BRAND NEW stainless appliances & soft bedroom carpeting. Well-designed interior boasts tall ceilings, graceful arches, art niches & bay windows (natural light). Spacious kitchen seamlessly flows into the living area-perfect for entertaining. Bathrooms have been enhanced with granite counters & delightfully tiled showers. Generously-sized main suite boasts large walk-in closet. Relax under the covered patio-enjoying the privacy in this lush green backyard. Community amenities include playgrounds, parks, sport courts, etc. This immaculate & upgraded house could be your new home!

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1824 N Vista Lane Casa Grande, AZ 85122

New

$475,000

5 Beds

3 Baths

2,942 SqFt

Status Active

MLS # 6697569

Property Type Single Family Residence

Price Type --

Welcome to your dream home on a serene cul-de-sac lot, surrounded by lush landscaping and boasting a crisp curb appeal. With only one neighbor, you'll enjoy privacy and tranquility in this peaceful neighborhood. Step inside and be greeted by a grand entryway into the spacious living room, featuring vaulted ceilings, two-tone paint, and stunning wrought iron railing. The open floor plan flows seamlessly into the eat-in kitchen with a breakfast bar, perfect for entertaining guests or enjoying family meals. The kitchen is any chef's dream with stainless steel appliances, maple spice cabinets, crown molding, and recessed lighting. Enjoy cooking outside in the outdoor kitchen equipped with a built-in BBQ while taking in views of your beautiful koi pond. Retreat to your primary bedroom oasis with access to a private view deck where you can relax and take in the breathtaking surroundings. The en-suite bathroom offers raised vanities with dual sinks, separate shower/tub, double closets for ample storage space. This former model home also features an upstairs laundry for convenience and a downstairs mother-in-law suite for guests or multigenerational families. Don't miss out on this rare opportunity to own such a unique home that checks off all boxes - location, privacy, luxury amenities - all wrapped up in one gorgeous package!

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1825 E Aloe Place Chandler, AZ 85286

$475,000

3 Beds

2 Baths

1,365 SqFt

Status Active

MLS # 6693989

Property Type Single Family Residence

Price Type --

This charming single-level residence boasts undeniable curb appeal. Featuring new carpet and fresh interior paint, this 3-bedroom, 2-bathroom home also offers a spacious backyard, perfect for adding a pool, located in the highly sought-after Saguaro Canyon neighborhood. This home is situated in a prime area of Chandler, within the Chandler School District. Conveniently close to major employers such as the Intel Ocotillo Campus and Northrop Grumman, as well as the Chandler Municipal Airport, with easy access to Loop 101, I-10, and the San Tan 202 freeways. Additionally, it's just minutes away from shopping, dining, multiple golf courses, and other neighboring cities in the metro Phoenix area. Don't miss out on the opportunity to see this exceptional home!

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1657 S Murdock Road Camp Verde, AZ 86322

New

$475,000

3 Beds

2 Baths

1,533 SqFt

Status Active

MLS # 6696487

Property Type Single Family Residence

Price Type --

Welcome to your new home! This charming 3 bed, 2 bath sanctuary boasts 1532sqft of comfort and style. Nestled on a private well, enjoy peace and serenity. Revel in the modern touches with a newer roof, fresh flooring, plush carpet, and upgraded lighting fixtures. Gather around the cozy fireplace in the family room for memorable evenings. Don't miss your chance to make this haven yours!

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546 S 199th Drive Buckeye, AZ 85326

$475,000

4 Beds

3 Baths

2,151 SqFt

Status Active

MLS # 6687707

Property Type Single Family Residence

Price Type --

Fall in LOVE with this charming home in Blue Horizons! Offering 4 beds, 3 baths, 3-car tandem garage, & a well-manicured landscape. Discover an inviting interior that features a designer palette & wood-look tile flooring t/out. Ideal for those who love to entertain, this gem's open layout ensures seamless & enjoyable gatherings! The kitchen boasts SS appliances, granite counters, a pantry, subway tile backsplash, recessed & pendant lighting, dark wood cabinetry, and an island w/breakfast bar. Main bedroom has a tray ceiling, a walk-in closet, and an ensuite with dual sinks & a separate tub/shower. Versatile den can be an office or reading nook! There is also a storage room for added convenience. Outback, you have a covered patio, Gazebo, well-laid pavers, & artificial turf. Move-in ready!

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1263 E Century Avenue Gilbert, AZ 85296

New

$475,000

3 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6694167

Property Type Single Family Residence

Price Type --

Popular 3 bedroom Continental Home split floor plan, move-in ready, located in north-central Gilbert, close to dining, shopping, schools, and freeway. Newly installed carpet, faucets, ceiling fans, granite kitchen countertops, bathroom countertops, and lighting fixtures. Freshly painted inside and new heat pump/AC. Brand new never-been-used dishwasher, range/stove, built-in microwave, all stainless. Beautiful backyard mature landscaping with grass and covered patio. Interior photos will be added soon.

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4978 Big Pine Drive Pinetop-lakeside, AZ 85929

New

$475,000

3 Beds

2.5 Baths

1,488 SqFt

Status Active

MLS # 6697812

Property Type Single Family Residence

Price Type --

Wonderful Lakeside-Pinetop location. Remodeled in 2022. No HOA. 3 Bedroom, 2.5 baths, 2 car garage on a cul-de-sac (.28 acres) in most desirable Blue Spruce Estates. Bathrooms remodeled w/ granite and tile finishes. Inside utility room. Powder room. Appliances stay. Fenced yard. Large garage w/ shelving. Master bedroom has private en-suite bathroom. Great sized bedrooms. Treed lot w/ apple trees too! Turn key and ready to move in! Pride of ownership.

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1430 E Winged Foot Drive Chandler, AZ 85249

New

$475,000

2 Beds

2 Baths

1,582 SqFt

Status Active

MLS # 6696416

Property Type Single Family Residence

Price Type --

Located in the Active Adult Community of Springfield! Split bedroom floorplan with open kitchen and family room. All updated in the past 5 years: AC, roof, windows, water heater & water softner. Large kitchen with granite counters, stainless steel appliances, pantry & breakfast bar. The primary bedroom offers his & hers walk-in closets and a private bathroom equipped with dual sinks. Flex room could be a den, dinning room or made into a 3rd bedroom. Wood shutters throughout, solar tubes in walk-in closets, built in cabinets in laundry & garage. Oversized back yard with mature landscaping, ground lighting, covered & uncovered patios. Relax & meet your friendly neighbors from your front patio. Enjoy 2 pools, spa, golf course, tennis, pickle ball, gym, bar/grill & tons of activities.

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