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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

30817 W Bellview Street Buckeye, AZ 85396

$475,000

3 Beds

2 Baths

2,171 SqFt

Status Active

MLS # 6686245

Property Type Manufactured Home

Price Type --

This 3-bedroom, 2-bathroom home offers the perfect blend of rustic charm and modern convenience. GreatRoom flows seamlessly into the kitchen, epitomizing the sought-after farmhouse vibe. The heart of the home, a spacious kitchen, features ample counter space and storage, ideal for those who love to cook and entertain. Primary Suite & Guest Bedrooms include walk in closets and provide comfort and tranquility. The game room is located next to the Guest Bedrooms. Outdoors, enjoy a covered deck that invites early morning moments or relaxing evenings by the fire pit. The property boasts an ext'd 2-car garage with add'll carport, perfect for keeping your vehicles and equipment sheltered. Two on-site containers keep your belongings organized. Property is fully fenced.

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6010 W Carol Ann Way Glendale, AZ 85306

$475,000

3 Beds

2.5 Baths

2,300 SqFt

Status Active

MLS # 6688381

Property Type Single Family Residence

Price Type --

THIS HOME IS NOT FOR RENT. CHARMING 3 bed/2.5 bath 2300 sf 2 story home with Pebbletech diving pool, view deck, room to park a trailer or boat and NO HOA - UNDER $500K! WOW! No worries here - New paint inside and out! New Carpet! Roof replaced in 2019, AC in 2016, Hot Water Heater 2018, Pool resurfaced 2016. This one is move-in ready! Not to mention the stellar 2 car garage with professional epoxy coated floor, garage door replaced 2012, opener 2021 and spring 2024. Master bedroom has ensuite bathroom and French doors leading to huge view deck for a relaxing start or end to your day. Hall bath has travertine tub/shower surround and flooring. Spacious bedrooms 2 & 3 feature brand new carpet. Downstairs 1/2 bath is located off laundry for convenience to garage and family room. Easy care neutral ceramic tile flooring throughout lower level - kitchen, living room, family room, foyer, laundry and 1/2 bath spaces, with wood look laminate plank upstairs in hallway and master bedroom. Kitchen features solid oak cabinets with pullouts and a Lazy Susan for easy access. Plumbing is present to easily add a wet bar in family room! Extra storage under the stairs is perfect for your Costco Pantry! Check out the entertainer's backyard! Imagine coffee on the covered patio, a glass of wine on the view deck or roasting marshmallows over the cozy fire pit with bench seating. Room for corn hole too! The concrete pad on the west side of the home extends 16' beyond the fence expanding possibilities for storage for a boat, trailer or toys if fence is replaced with gate. 220v available if you want to add an above ground hot tub. In addition to public schools, Legacy Traditional School and Challenge Charter School are both nearby. Enjoy convenience to shopping, dining and entertainment districts such as Arrowhead, Peoria Sports Complex known for Padres and Seattle Mariners Spring Training, State Farm Cardinal's Stadium, New Mattel Adventure Park, Honeywell Aerospace, Arizona Christian University and oodles of shopping and dining experiences. Positioned for energy savings on a N/S lot with mature ficus and palm trees, this home is ticking all the boxes for living your best life! This is a wonderful home whether your family is large or small and for such an affordable price in this pride of ownership neighborhood. HURRY!

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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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4331 E Douglas Avenue Gilbert, AZ 85234

$475,000

3 Beds

2 Baths

1,412 SqFt

Status Active

MLS # 6694719

Property Type Single Family Residence

Price Type --

Welcome Home!!! This gorgeous 3 bedroom 2 bath home at Towne Meadows in Gilbert is in a fantastic location. Close to restaurants, shopping, schools, parks & easy access to the 60 or 202 Fwy's. You'll love the layout of this home. Your kitchen offers stainless steel appliances, granite counter tops, a breakfast bar & new cherry cabinets. Your spacious master suite offers a plethora of natural light , a walk in closet, two granite vanities, a shower\tub combo & direct access to your backyard oasis. This home also offers upgraded ceiling fans & lighting, plantation shutters, vaulted ceilings, new exterior & interior paint, a 2 car garage with a water softener, as well as a backyard oasis that includes a covered patio, grass lawn, mature landscaping & a sparkling heated play pool to enjoy all year long. Your community offers a large park area that includes a basketball court, green area, swing sets, a playground & a ramada to utilize. This gem in the desert is a Great Buy & a Must See!!!

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4444 E Wildwood Drive Phoenix, AZ 85048

New

$475,000

3 Beds

2 Baths

1,577 SqFt

Status Active

MLS # 6695411

Property Type Single Family Residence

Price Type --

Great Investment Opportunity! Long-term tenants have a lease until the end of 2025. Well maintained single family home with updated flooring, high ceilings, beautiful fireplace and a great back yard! Gated community with a pool and the HOA maintains the front yard.

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3324 E Luna Drive San Tan Valley, AZ 85143

$475,000

4 Beds

3 Baths

2,343 SqFt

Status Active

MLS # 6691341

Property Type Single Family Residence

Price Type --

BRAND NEW, NEW CONSTRUCTION HOME! NEVER LIVED IN. AVAILABLE NOW! This is your opportunity to get into Meritage Homes just completed Phase I of Bella Vista Farms. The owners closed on this new built home in June of last year but life plans changed and they never moved in. Their loss is your gain! This upgraded home is the Meritage Lark floor plan with the ''Lush'' interior package. With a spacious great room, upgraded kitchen,4 bedrooms PLUS a teen room, everyone has their own personal space when they need it plus the ability to come together and enjoy each others company as well. Sitting on a view lot, you have no neighbors behind you and the view fencing gives great views of the planned landscaped wash behind the home as well as the Superstition Mountains. And did I mention there is no wait or build time? This home is move in ready and can close as quickly as you need.

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17424 W Victory Street Goodyear, AZ 85338

$475,000

4 Beds

2.5 Baths

2,525 SqFt

Status Active

MLS # 6690649

Property Type Single Family Residence

Price Type --

Must see 4 bedroom, 2.5 bathroom home with lots of upgrades! This beautiful home has ''gourmet kitchen'' along with a separate dining room, butler pantry upgraded cabinets with quartz countertops, oversized walk in shower and separate tub, beautiful tile, double sinks in master and hallway bath and so much more. The backyard has beautiful trees, covered patio and plenty of pavers for you to enjoy and relax, window coverings for all windows, tankless water heater and walk in pantry. Easy access to schools, shopping, grocery stores, restaurants and major highways. Very well maintained home, make an appt to see this house as it won't last long.

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14155 W Hearn Road Surprise, AZ 85379

$475,000

4 Beds

2 Baths

1,797 SqFt

Status Active

MLS # 6691138

Property Type Single Family Residence

Price Type --

Charming single-story 4-bedroom, 2-bath home spanning 1,797 SQFT in the sought-after ''Sierra Verde'' community in Surprise. This home boasts an owned 7.74 KW SOLAR system for energy efficiency, north/south exposure. The popular ''Encanto'' floor plan showcases a spacious great room, large kitchen island, ample cabinet space, with walk-in pantry, plank tile flooring, fully remodeled bathrooms w/ walkin showers The backyard oasis is perfect for relaxation and entertaining, artificial turf, covered patio, and an inviting self cleaning Pebble Tech pool with brand new heater / cooler This property is not only a great place to call home but also strategically located close to shopping & top-rated schools.

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6673 W Acapulco Lane Glendale, AZ 85306

$475,000

3 Beds

2 Baths

1,672 SqFt

Status Active

MLS # 6692124

Property Type Single Family Residence

Price Type --

This 3 bed 2 bath home in Glendale offers a blend of comfort & convenience! No HOA! Great short term rental possibilities!! Only 3 miles to Peoria SPRING TRAINING, a 5 minute walk to Thunderbird Paseo park, 0.5 miles to Cactus High School, 2.4 miles to Banner Thunderbird, Arrowhead mall, Shopping, & dinning! All appliances stay for your convenience & enjoy PAID OFF OWNED SOLAR for low bills! Enjoy sitting under the front covered patio taking in the manicured landscaping & lovely curb appeal. Freshly remodeled in 2023, the neutral palette & wood-look flooring give this home a serene ambiance. The kitchen & great room are an entertainer's delight, featuring sleek appliances, generous cabinetry, tile backsplash, quartz counters, pantry, & an island w/breakfast bar. The generously sized primary bedroom boasts plush carpet, sitting area, walk-in closet, & a newly remodeled ensuite bathroom with white subway tile walk in shower. 2nd bathroom has been nicely remodeled with a tile surround too. The perfectly sized backyard invites fun time with a relaxing covered patio & plenty of green grass to play on. This is the one!!

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7233 E Eagle Nest Way San Tan Valley, AZ 85143

New

$475,000

4 Beds

2 Baths

1,976 SqFt

Status Active

MLS # 6694535

Property Type Single Family Residence

Price Type --

Welcome to your ultimate getaway! This modern 4-bedroom home, constructed in 2018, brings a fresh, new-home feel, complete with a dazzling pool in the backyard. Got an RV or toys? Park them behind your RV gate. Tucked away in a peaceful corner of the community, the private backyard offers a tranquil oasis, perfect for unwinding or throwing lively parties. Step inside to find a bright, open kitchen and living area that beckons you to relax and savor the moment. New flooring in 3 of the bedrooms! Whether you're hosting a gathering or simply enjoying the serenity of your surroundings, this home is designed for comfort and joy. Nestled in the charming Quail Run community, you'll also be treated to stunning mountain views, adding a touch of natural beauty to your everyday life.

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3415 W Willow Avenue Phoenix, AZ 85029

$475,000

3 Beds

2 Baths

1,997 SqFt

Status Active

MLS # 6692256

Property Type Single Family Residence

Price Type --

Welcome to your desert oasis! This stunning home boasts exceptional curb appeal with mature desert landscaping and a freshly painted exterior. Step inside to discover a completely remodeled interior, highlighted by wood plank tile flooring, fresh paint throughout, and recessed lighting, creating a modern and stylish ambiance. The spacious living room is illuminated by two massive windows, flooding the space with natural light. The kitchen is a chef's dream, featuring white shaker cabinets, sleek black hardware, and a matching black faucet. Quartz countertops, recessed lighting, and pendant lights add both style and functionality to the space, making it the heart of the home. (CLICK TO READ MORE) Retreat to the perfectly sized primary suite, offering quartz countertops, upgraded lighting and fixtures, and its own exit to the backyard through sliding doors. A highlight of this home is the Arizona room, complete with French doors connecting to both the main house and the exterior. Enjoy panoramic views of the gorgeous backyard oasis, featuring a sparkling pool, covered patio, and RV gate with ample space for parking an RV or other recreational vehicles. A shed provides additional storage space, while the fenced-in pool area ensures safety and privacy. Don't miss the opportunity to make this desert retreat your own and experience the ultimate Arizona living!

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223 S Thunder Mountain Payson, AZ 85541

$475,000

2 Beds

2 Baths

1,269 SqFt

Status Active

MLS # 6692913

Property Type Single Family Residence

Price Type --

Gorgeous single level home built in 2019 in the beautiful Sanctuary At The Rim Subdivision! This 2 bedroom, 2 bathroom home features 1,269 sq. ft., vaulted ceilings, and a 2 car garage. The living room has luxury vinyl plank floors, and an open floor plan to the kitchen for easy entertaining. The kitchen has a gas stove, quartz counter tops, plenty of storage space, and a kitchen island with a breakfast bar. The master suite features a walk-in closet, double sinks, a private toilet room and a walk-in shower. The backyard is fenced with astro-turf, paver patio and a covered patio perfect for summer get togethers.

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