Where Are Mortgage Interest Rates Headed in 2018?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.

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19625 W Cambridge Avenue Buckeye, AZ 85396

$460,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6676007

Property Type Single Family Residence

Price Type --

Explore this exciting Slate home, ready for quick move-in! Included features: a covered entry; an inviting kitchen boasting 42'' upper cabinets, quartz countertops, stainless-steel appliances and a center island; a relaxing great room and adjacent nook; an inspired primary suite showcasing a large walk-in closet and a private bath with double sinks; two secondary bedrooms with a shared bath; a central laundry; a fourth bedroom with an attached bath; a charming covered patio and a 2-car garage. This home also offers 7'' x 22'' stone tile flooring, cultured marble bath countertops, additional windows and ceiling fan prewiring in select rooms, coach lights, front yard landscaping and concrete pavers at the driveway and walkway.

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16969 W Maya Way Surprise, AZ 85387

$460,983

3 Beds

2.5 Baths

3,025 SqFt

Status Active

MLS # 6691032

Property Type Single Family Residence

Price Type --

Beautiful new home located in the heart of Sunrise. Very spacious Antelope plan, high performance home on an E/W located close to a neighboring school. This home is absolutely perfect for a growing family, or busy professionals who are ready to unpack, hang up a few pictures, and keep living life to its fullest! This popular floor plan includes Gourmet Kitchen, Home Automation, Geofencing, whole house air purification system, study is set up with Flex option for home office, gaming or home school complete with solid double doors.

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18022 W Avenida Del Sol -- Surprise, AZ 85387

$460,700

4 Beds

2.5 Baths

2,476 SqFt

Status Active

MLS # 6665848

Property Type Single Family Residence

Price Type --

Come see this incredible floorplan, MOVE IN READY! An amazing layout with 4 bedrooms upstairs, a den downstairs, and 2.5 baths. In addition to being energy efficient and a Smart Home, the many upgrades make this one stand out. Great curb appeal, partial view fence, great size yard great for entertaining. Two-tone paint, 9' ceilings. Beautiful white cabinets, granite kitchen and baths, island, and walk in pantry. Lots of room to cook and move around! !

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18045 W Avenida Del Sol -- Surprise, AZ 85387

$460,535

4 Beds

3 Baths

2,476 SqFt

Status Active

MLS # 6681312

Property Type Single Family Residence

Price Type --

Come see this incredible floorplan, MOVE IN READY! An amazing layout with 4 bedrooms plus a loft, and 3 baths. In addition to being energy efficient and a Smart Home, the many upgrades make this one stand out. Great curb appeal, nice size yard great for entertaining. Two-tone paint, 9' ceilings. Beautiful dark cabinets, granite in the kitchen and baths, island, and walk in pantry. Lots of room to cook and move around! !

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