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.

Whats 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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5069 N Atwood Court Prescott Valley, AZ 86314

$474,197
2 Beds
2 Baths
1,307 SqFt
Status Active
MLS # 6694713
Property Type Single Family Residence
Price Type --
A beautiful Capstone Home in the most sought after community in Prescott Valley ''Jasper'' This home is MOVE-IN-READY. This home features 2 bedrooms, 2 baths, and a tandem 3 car garage. White shaker cabinets, quartz countertops, luxury vinyl plank flooring and 12'' by 24'' tile in the bathrooms and primary shower. A great room fireplace with tile surround makes this open floor plan comfortable and cozy. Come see this home today!

17639 W Hatcher Road Waddell, AZ 85355

$474,030 - 3Br/3Ba -  for Sale in Zanjero Pass Phase 1, Waddell
Open House
$474,030
3 Beds
2.5 Baths
2,052 SqFt
Status Active
MLS # 6674701
Property Type Single Family Residence
Price Type --
This Gorgeous sprawling floor plan has 2052 SF , w/3 bedrooms, 2.5 bathrooms, and a 3 car tandem garage! Almost ready for you! Est COE in Jun/Jul 2024. This home features a fresh, neutral color palette, offering 36'' white shaker cabinetry, a large kitchen island, white quartz countertops, 9' ceilings and tile flooring. It also includes features you'll love like a soft water loop, under cabinet lighting in the kitchen, dual pane low-E windows, multi-zone thermostat, and a smart home system. The exterior features front yard landscaping, a covered patio and private backyard. Conveniently located off the 303, this gated community is near Costco, Walmart, and shopping. **Finishes may vary from sample photos and virtual tour.

41906 W Solitare Drive Maricopa, AZ 85138

$474,000
2 Beds
2 Baths
1,896 SqFt
Status Active
MLS # 6694815
Property Type Single Family Residence
Price Type --
You will fall in love with this Yukon model where no expense has been spared. When you pull up, you will notice the ungraded exterior and the enclosed front patio with water feature. The upgraded security door opens to the entry with 15' diagonal tile with Belcaro walnut finish lighting. The entry to the den has Italian drapes called Veneto and are on rods with granite fineals. The den has the same drapery and rods with Hunter-Douglas roman shades. The same quality continues into the great room overlooking the extended covered patio. The kitchen has a special stone sinks, large granite counters with glass backspalsh and pull out shelves in all cabinets. Best of all - all applicances stay. The pendant lights match the Belcaro chandelier in the dining room which has sun shades on the side windows. Both bedrooms have upgraded carpet and room darkening roman shades. Both the walk-in closet and the guest bedroom closet have extra shelving. Did you notice the bay window in the master overlooking the oversized backyard? Master bath has an oversized garden tub and separate shower with rain glass. The patio has extended pergola covering with a privacy wall at one end. You have a TV jack and natural gas stub, all overlooking the extra large, perfectly landscaped backyard. The laundry room has cabinets above the washer/dryer and the owner is leaving these appliances for you. The extra length garage has a utility sink, cabinets on two walls, overhead storage, the floor has an epoxy coating and you have a side door to the outside. All of this in the 55+ guard gated lake community of Province; where you can fish in the lakes, walk on one of the 5 miles of walking paths throughout the community, practice your putting, play a game of pickleball or tennis is nothing short of retiring like you mean it! To wrap it all up, inside the 32,000 square foot club house, you have a fitness center, lap pool, library, billiards room, ceramic, sewing, and computer center besides the quaint, gorgeous outdoor pool for perfect solitude or fun gatherings with friends and family. What more can you ask for... all for an affordable price in an incredible community awaiting your arrival !!

7327 W Sophie Lane Laveen, AZ 85339

$474,000 - 3Br/3Ba -  for Sale in Laveen Meadows Parcel 1, Laveen
New
$474,000
3 Beds
2.5 Baths
2,252 SqFt
Status Active
MLS # 6697680
Property Type Single Family Residence
Price Type --
Beautiful , super clean home in move in condition***2 AC units**RV gate**Balcony**Large loft perfect for office or playroom**:Formal LR, DR, large kitchen with island, pantry, SS appliances, maple cabinets, breakfast area- open to Family room***1/2 bath on main level **Beautiful wood laminate and tile flooring, window blinds**Stairway with lots of light, leads to upstairs loft area, 3br/2ba**Large Main BR , with sliding door to balcony overlooking the S. Mountain and grassy backyard**Separate shower and jaccuzzi tub)**Covered patio**Storage shed*Fully landscaped yards, lush vegetation, irrigation w/timer***Beautiful area- parks and greenbelts throughout community and el. school close by**Major Shopping ,services and restaurants near by** LOOP 202/ access just 1.5 mi; I-10 Frwy 3 m

7300 E Earll Drive Scottsdale, AZ 85251

$474,000
1 Bed
1 Bath
864 SqFt
Status Active
MLS # 6607436
Property Type Apartment
Price Type --
Welcome to Inspire on Earll, a gated community perfectly situated in the heart of Old Town Scottsdale putting you incredibly close to some of the best restaurants, stores, galleries, and more! At home, you'll enjoy this ground level single bed & bath corner unit with one of the few large, oversized outdoor back patios in the complex, and with only one neighbor. Beautiful white shaker cabinets and quartz counter are accented by a gray subway tile backsplash and stainless steel. You and your guests can relax by the pool with shaded Ramada area, firepit, and hot tub, or take advantage of other community amenities such as the fitness center, lounge area, ping pong table, and outdoor grill. Most furniture is available on a separate Bill of Sale. Don't miss this opportunity!

2376 N Nicklaus Drive Mesa, AZ 85215

$474,000
2 Beds
2 Baths
1,640 SqFt
Status Active
MLS # 6620997
Property Type Single Family Residence
Price Type --
This home offers 2 bedrooms 2 bath PLUS a den. It has a split master bedroom floor plan. Patio is plumbed with natural gas for outdoor grilling. Also has gas range and water heater. Walk in pantry in kitchen plus pullout shelves. The garage has beautiful cabinets for closed in storage. There are 4 solar tubes throughout the house. Call to see this house today.

2135 Northwind Drive Pinetop, AZ 85935

$474,000
3 Beds
2 Baths
1,790 SqFt
Status Active
MLS # 6645676
Property Type Apartment
Price Type --
Beautifully updated condo in the gated Pinetop Country Club community of High Country Village. This open-concept floor-plan features 3 bedrooms, 2 full bathrooms and plenty of space for you & your guests! The kitchen has ample cabinets, eat in nook and built in drink fridge! The kitchen opens to the open concept family room with vaulted ceilings and a cozy rock surround fireplace, perfect for entertaining. The primary bedroom boasts an en-suite with dual vanities and a large walk in closet. The additional two bedrooms share a hall bathroom. Don't forget the expansive panty & laundry room before heading outside to your large, covered back deck to enjoy the views & fresh mountain air. One car detached garage and extra parking slab make this low maintenance property perfect for your mountain getaway. Being sold furnished and move in ready! Schedule your showing today!

9315 W Mariposa Drive Phoenix, AZ 85037

$474,000
3 Beds
2 Baths
2,157 SqFt
Status Active
MLS # 6656598
Property Type Single Family Residence
Price Type --
Welcome home! 3bed/2bath single-level home with a study/bonus room, nestled on a corner lot, large living area perfect for gatherings, accentuated by an open and inviting layout. Kitchen is a chef's delight, featuring granite countertops, a pantry, and modern stainless-steel appliances. Main bedroom serves as a private retreat, with an ensuite showcasing dual sinks and a spacious walk-in closet. Backyard is a true extension of this home's charm with an extended patio cover, a built-in BBQ island, a custom pool, an above-ground spa, and a cozy fire pit for memorable nights under the stars. Recent enhancements include an exterior paint job in 2022, a new air conditioning system installed the same year, and thoughtful updates to the kitchen, bathrooms, and pool area. This gem will sell fast.

13022 W Castlebar Drive Sun City West, AZ 85375

$474,000
2 Beds
2 Baths
1,953 SqFt
Status Active
MLS # 6682344
Property Type Single Family Residence
Price Type --
Don't miss this updated home positioned along a scenic double fairway of Briarwood Golf Course in the low-tax area. The backyard features a covered patio - perfect for enjoying a sunrise and coffee while watching golfers at play. Inside, the kitchen offers multiple dining options including a breakfast bar and an eat-in area with golf course views. Here you will also find newer appliances, cabinets, and countertops. The master suite has double sinks, a newly tiled shower, and a spacious walk-in closet. Recent renovations: knockdown ceilings, fresh paint, newer carpet in the bedrooms, interior doors, modern light fixtures and ceiling fans, new bathroom vanity tops, sinks, faucets, and stunning tiled showers. The large laundry room is a potential office space with existing cabinets in place. Sun City West, Arizona, is renowned for its extensive range of amenities tailored to active adults, offering a variety of recreational centers each with its unique facilities. Here's a summary of the amenities provided by each of the main recreation centers in Sun City West: 1. R.H. Johnson Recreation Center Social Hall: A hub for community gatherings and events. Swimming Pools: An outdoor pool with a lazy river walking path, water aerobics, volleyball, and lap swimming. Fitness Center: Equipped with modern exercise equipment. Tennis Courts: Several courts for tennis enthusiasts. Racquetball Courts: For those who enjoy a fast-paced indoor sport. Pickleball Courts: A growing favorite among residents. Miniature Golf: A fun, leisurely activity for all ages. Outdoor Amphitheater: Hosts concerts and other outdoor performances. Arts and Crafts Clubs: Facilities for ceramics, woodworking, stained glass, and more. Library: A wide selection of books and reading areas. Bowling Alleys: Modern facilities for bowling enthusiasts. Outdoor Courts: Bocce ball, Lawn Bowling Dog Parks: A large and small dog park. 2. Palm Ridge Recreation Center Swimming Pools: Features both indoor and outdoor pools. Fitness Center: Well-equipped for various workouts. Tennis Courts: High-quality courts for players. Pickleball Courts: Multiple courts to accommodate the popular sport. Club Rooms: Spaces for clubs and group meetings. 3. Beardsley Recreation Center Swimming Pool: A beautiful outdoor pool for laps and leisure. Fitness Center: Offers a range of exercise equipment. Club Rooms: Available for various club meetings and activities. Miniature Golf Course: Adds a touch of fun with a challenging layout. Arts and Crafts: Facilities for creative pursuits like pottery and fine arts. 4. Kuentz Recreation Center Swimming Pool: An inviting outdoor pool for residents. Fitness Center: Keeps residents active with a variety of equipment. Tennis Courts: For both casual and competitive play. Softball Field: A well-maintained field for games and tournaments. Arts and Crafts: Including woodworking and painting studios. Stardust Theatre: A venue for plays, musicals, and other performances. Outdoor Courts: Bocce ball, cornhole, and horseshoe pits Additional Facilities Across the Centers: Golf Courses: Sun City West has seven beautifully maintained golf courses. Clubs: Over 100 Clubs including Woodworking, Auto Restoration, Metal Shop Walking Tracks: Scenic paths for leisurely strolls or brisk walks.

9555 E Raintree Drive Scottsdale, AZ 85260

$474,000
3 Beds
2 Baths
1,509 SqFt
Status Active
MLS # 6682683
Property Type Apartment
Price Type --
Refined elegance awaits in this tastefully updated ground floor condo nestled within the tranquil enclave of Ladera Vista, ideally situated in prestigious Scottsdale. You'll find convenience and luxury with a host of upscale amenities including a private 1-car garage, a chef's kitchen adorned with stainless steel appliances, and dual inviting patios. Impeccably appointed bathrooms, including a relaxing master suite boasting a double vanity and newly refurbished shower, offer sanctuary and style. Unwind in the lush, manicured grounds of the gated community, complemented by a heated pool for year-round relaxation. Enjoy the epitome of Scottsdale living in this sophisticated oasis!

17623 W Watson Lane Surprise, AZ 85388

$474,000 - 4Br/3Ba -  for Sale in Sierra Montana Parcel 10, Surprise
Open House
$474,000
4 Beds
3 Baths
2,425 SqFt
Status Active
MLS # 6673707
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This property boasts a natural color palette, creating a serene and calming atmosphere throughout. The kitchen features a center island, perfect for meal prep. The master bedroom includes a spacious walk-in closet for all your storage needs. Additional rooms provide flexible living space for your lifestyle. The primary bathroom offers good under sink storage. Step outside to a fenced backyard with a private in-ground pool and covered sitting area - perfect for outdoor relaxation. With fresh interior paint and new flooring throughout the home give it a modern and updated feel. Don't miss out on this opportunity to make this house yours!

2130 E Pierce Street Phoenix, AZ 85006

$473,999
4 Beds
2.5 Baths
1,637 SqFt
Status Active
MLS # 6565440
Property Type Single Family Residence
Price Type --
Come and take a look at this brand new 4 bedroom, 2.5 bathroom home! Located near the heart of downtown phoenix with quick access to the I10, 51, and 202 Freeways. A 2 car garage and RV gate are located on the newly built property for your convenience! Don't miss out on this beautiful new build.

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