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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1647 E Grand Ridge Road Queen Creek, AZ 85140

$474,900

2 Beds

2 Baths

1,574 SqFt

Status Active

MLS # 6673612

Property Type Single Family Residence

Price Type --

This Monaco plan is ready for you! Start enjoying Encanterra in 2024! The home is situated on a premium homesite with no neighbors behind, tons of privacy and mature trees. Cozy up by the backyard fireplace and enjoy your morning coffee or glass of wine at night. The front courtyard is ideal for entertaining or waving to the neighbors as they walk by. The den makes a perfect home office but also offers a built in Murphy bed for extra guest space. Upgraded tile is throughout the main living areas and the home offers a ton of natural light that creates a beautiful flow. This home is as short walk to the main clubhouse and Encanterra offers tons of amenities at your fingertips. Start living the Good Life at Encanterra today!

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1350 S Greenfield Road Mesa, AZ 85206

$474,900

4 Beds

2.5 Baths

1,750 SqFt

Status Active

MLS # 6677598

Property Type Townhouse

Price Type --

Become the proud owner of this lovely 4-bed, 2.5-bath townhome in Tesoro at Greenfield! Discover an inviting great room with high ceilings, a neutral palette, blinds for privacy, and durable tile flooring. The kitchen boasts polished granite counters, abundant white cabinetry with crown moulding, sleek built-in appliances, a mosaic tile backsplash, a pantry, and a two-tier peninsula with a breakfast bar for casual dining. Relax after a long day in the main bedroom, offering direct backyard access, a private bathroom, and a walk-in closet. The serene backyard is complete with a covered patio, stylish pavers, and low-maintenance artificial turf. Don't let this opportunity pass you by!

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3723 N Aspen Drive Avondale, AZ 85392

$474,900

4 Beds

3 Baths

2,205 SqFt

Status Active

MLS # 6690213

Property Type Single Family Residence

Price Type --

Welcome to this lovely 4-bedroom, 3-bath residence in Garden Lakes! You're greeted by a 2-car garage and a well-manicured front lawn. Discover a welcoming living room with vaulted ceilings, a neutral palette, plantation shutters, and attractive wood-look flooring. The great room includes sliding doors to the backyard for seamless indoor-outdoor living. The kitchen comes with granite counters, ample wood cabinetry with crown molding, recessed lighting, stainless steel appliances, and a convenient pantry. The main bedroom is complete with cozy carpeting, balcony access, an ensuite with dual sinks, and a walk-in closet. Enjoy scenic views of the Community greenbelt from the balcony. The backyard includes a covered patio, a relaxing spa, and a sparkling pool. See this gem now!

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7233 E Eagle Nest Way San Tan Valley, AZ 85143

$474,900

4 Beds

2 Baths

1,976 SqFt

Status Active

MLS # 6694535

Property Type Single Family Residence

Price Type --

SELLER OFFERS UP TO A $20,000 (4%) CASH CREDIT AT CLOSING THAT BUYER MAY USE FOR ANY PURPOSE (including paying your agent). Welcome to your ultimate getaway! Step into the luxurious lifestyle offered by this modern 4-bedroom home, built in 2018. The highlight? A dazzling pool in the backyard, inviting you to bask in its splendor. Park your RV or toys securely behind your very own RV gate. Tucked away in a peaceful corner of the community, the backyard transforms into a private oasis, ideal for both quiet relaxation and lively gatherings. Inside, discover a bright, open kitchen and living area that simply begs you to unwind & savor the moment. Revel in the new laminate flooring in three of the bedrooms, adding a touch of elegance and comfort to your living space. Whether you're entertaining guests or simply enjoying the serenity of your surroundings, this home is thoughtfully designed to offer both comfort and joy. Nestled in the charming Quail Run community, you'll also be treated to stunning mountain views, providing a picturesque backdrop to your daily life.

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8795 S 167th Lane Goodyear, AZ 85338

$474,900

3 Beds

2 Baths

1,760 SqFt

Status Active

MLS # 6696621

Property Type Single Family Residence

Price Type --

This great single story home in sought after Estrella sits on a premium 7K plus square foot lot with mountain views and no neighbors to the north or east! Light and bright open concept kitchen and main living space with lots of windows and bright, modern color scheme! Three bedrooms, 2 baths, 2 car garage, 1760 square feet - primary suite offers en suite bath w/ dual sinks, separate tub/shower and walk in closet. Kitchen offers an island, pantry, lots of cabinets, upgraded stainless steel appliances, gas stove, farm sink, RO drinking water & quartz countertops! Resort style living at its best with tons of amenities - walking/hiking/biking paths, community centers, residents clubs, golf - less than a mile to Cafe Bebida and even closer to new park w/ splash pad and more!

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15106 W Home Run Drive Surprise, AZ 85374

$474,900

2 Beds

2 Baths

1,936 SqFt

Status Active

MLS # 6674026

Property Type Single Family Residence

Price Type --

Open and airy! Rare to find Valencia II, sought after floor plan in superb location! Near The Grand Softball Field! Take in a game from the charming courtyard. Eco friendly SOLAR!!!(Resulting in Lower Energy Bills) Gas cooking at kitchen, stainless kitchen appliances, kitchen Island, granite counter tops, cherry cabinets. Laundry has ample cabinets and granite countertop (Washer/Dryer included). Primary Suite has a bay window and dual sinks in bathroom. Bedrooms, Office and Guest Bath have white window shutters. Handsome crown molding throughout, stained shutters in kitchen nook. Nice looking custom wood patio doors. Raised panel doors. Extended Patio is epoxy stamped and has a awesome extended pergola covering, pony walls and natural gas hookup. Newer HVAC. Move in Ready!

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15631 W Bethesda Court Surprise, AZ 85374

$474,500

3 Beds

2 Baths

1,889 SqFt

Status Active

MLS # 6651863

Property Type Single Family Residence

Price Type --

Price Improvement!! Stunning Palo Verde Model complete with all the bells and whistles! New Roof, Owned Solar, New HVAC, New Windows, New Exterior Paint, Cool Deck on Driveway, Walkways and Patio. Interior Upgrades, including SS Appliances...just move right in! Don't miss this excellent opportunity to live in a Premier 45+ Community! Priced far below market value!

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1522 W Hadley Street Phoenix, AZ 85007

$474,500

4 Beds

2 Baths

1,540 SqFt

Status Active

MLS # 6675363

Property Type Single Family Residence

Price Type --

Home, sweet home! Comfort meets convenience in this fully fenced 4-bed, 2-bath residence in Phoenix! You are greeted by the large & bright living room graced with tile flooring in all the right places. The impeccable eat-in kitchen features recessed lighting, ample white cabinetry, built-in appliances, a handy pantry, and glossy granite counters. The sizable primary bedroom offers a walk-in closet for all your belongings and a private bathroom with a combination of shower & tub. PLUS! Secondary bedrooms provide well-sized closets. The 2-car garage includes attached cabinets. In the spacious backyard, you'll find a storage shed and an RV gate. This gem won't disappoint you! Hurry before it's gone!

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29388 N 123rd Glen Peoria, AZ 85383

$474,500

3 Beds

3 Baths

2,498 SqFt

Status Active

MLS # 6691976

Property Type Single Family Residence

Price Type --

Resort Style Living at its best! Stylish low maintenance turnkey home just steps away from community pool & jacuzzi. This 3 bedroom 3 full bathroom home shows like a model home. Spacious office downstairs with a huge loft upstairs. Parking in the garage or street parking is available. Large open floor plan w 9' flat ceilings & sliding glass doors that flow into an inviting courtyard w plush landscaping & paver patio. Perfect for entertaining one or many! Kitchen includes granite counter tops, breakfast bar, walk-in pantry, cabinets galore, stainless steel appliances w natural gas range. Owner's suite includes walk-in closet, walk in shower w dual shower heads & balcony. Laundry has washer & dryer, fire protection sprinkler system. The 2-car garage w 2 large overhead racks! Come see us!

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23393 W Winslow Avenue Buckeye, AZ 85326

$474,213

5 Beds

3 Baths

2,624 SqFt

Status Active

MLS # 6638299

Property Type Single Family Residence

Price Type --

Perfect Layout!! Finished 5 Bedroom 3 bathroom + HUGE loft upstairs! Large Kitchen With covered patio! Stop by and ask about our whole house air purification system incorporated into the architecture of this home, or home automation that saves money on utility bills, bringing you peace of mind and unlimited freedom.

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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!

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17639 W Hatcher Road Waddell, AZ 85355

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.

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