Where Are Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | Simplifying The Market

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.

Where Are Interest Rates Headed? | Simplifying The Market

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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1783 E Mulberry -- Prescott Valley, AZ 86314

$459,000
2 Beds
2 Baths
1,896 SqFt
Status Active
MLS # 6644241
Property Type Single Family Residence
Price Type --
Outstanding home in desirable 55+/Victorian Estates, Gated Community, providing a Quiet, Peaceful, Safe location with easy access to all shopping, entertainment, hospitals, doctors, etc. Here is a 1896 Square Foot/One level with 2 spacious Bedrooms, 2 Bathrooms, 2 Car Garage + Den & large Family Room/Media Room/Flex Room (Potential 3rd Bedroom), GREAT ROOM Concept, 2 Tone Paint, Crown Molding, Ceiling Fans, Wood Blinds, Wood Plank Tile, & Newer Carpet. Kitchen was upgraded in 2016 with Antique White Cabinetry, Dovetailed Drawers, GRANITE Countertops, Tile Backsplash, 2019 Stainless Steel Appliances (Including Fridge), built-in Pantry, & built-in China Hutch. Master is Spacious with His/Her Walk-In Closets, Dual Sinks under GRANITE Countertops, Full Tub with tile surround, & separate Shower with Glass Doors. Home also has Large Utility room w/Upper Cupboards w/(Washer/Dryer) Conveying. Has large Open Patio, Fenced Dog Run area for small dogs, Attic Storage, Security System, Security Screen Door, & is Walking Distance to Clubhouse & Pool.

5363 E Santa Clara Drive San Tan Valley, AZ 85140

$459,000
4 Beds
2.5 Baths
2,222 SqFt
Status Active
MLS # 6658040
Property Type Single Family Residence
Price Type --
NO HOA! Situated on a corner lot that is almost a quarter acre, this stunning 4-bedroom, 2.5-bathroom home features a 2-car garage, a side-entry RV gate with RV hookup, 10ft entrance gate, and elegant stone details. Spacious great room with 12ft ceilings, recessed lighting, and stylish wood-look floors. The gourmet kitchen boasts granite countertops, white shaker cabinets, stainless steel appliances, subway tile backsplash, a pantry, and an island with a breakfast bar. The primary suite offers backyard access, a walk-in closet, and an en-suite with dual sinks. Enjoy a water softener system, a backyard oasis with a full-length covered patio, built-in BBQ, water feature, and lush turf. This home features a dual HVAC with a split system and a water softener system.

3710 S 180th Lane Goodyear, AZ 85338

$459,000 - 3Br/3Ba -  for Sale in Las Brisas Phase 2b (2b.3) Replat, Goodyear
Open House
$459,000
3 Beds
3 Baths
1,955 SqFt
Status Active
MLS # 6691888
Property Type Single Family Residence
Price Type --
Welcome home to this energy efficient single story home in Las Brisas, Goodyear! A very spacious open concept allows plenty of room for entertaining. With granite counters, a large kitchen island and finished back yard with turf the inside and outside merge seamlessly. The 3 large bedrooms and 3 full bathrooms mean that everyone has their own space to get ready. The three car tandem garage makes way for all your cars and extras. The solar on this home is a steal with a low monthly payment to own, keeping you cool in the summer at a minimal cost!

20395 N Shadow Mountain Drive Surprise, AZ 85374

$459,000 - 2Br/2Ba -  for Sale in Sun City Grand, The Grand, Surprise
Open House
$459,000
2 Beds
2 Baths
1,598 SqFt
Status Active
MLS # 6691261
Property Type Single Family Residence
Price Type --
Welcome to your NEWLY UPDATED, OPEN CONCEPT home! This spacious home boosts new INTERIOR PAINT, new SHUTTERS throughout, new LVP flooring, new SHAKER cabinets and new QUARTZ counters in the kitchen, and a brand new A/C and FURNACE system! The Living area offers a dedicated space for a desk or sitting room. The Kitchen is a chef's dream! Stepping outside onto your large backyard patio, complete with a Built in BBQ and large covered area, you have plenty of shade and sun! This home is truly a MUST SEE!

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