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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18983 N 259th Lane Buckeye, AZ 85396

$459,000 - 2Br/2Ba -  for Sale in Sun City Festival Planning Area 2 Parcel D2, Buckeye
New
$459,000
2 Beds
2 Baths
1,569 SqFt
Status Active
MLS # 6694613
Property Type Single Family Residence
Price Type --
Better than New, immaculate Hideaway Model with Smart Home Features. 2-bed/2-bath, split floor plan w/ upgraded plank tile flooring and ''leather'' granite countertops. Designer light fixtures & custom window treatments. Open concept living offers plenty of room for dining & entertaining. Extended height, soft close cabinets, SS appliances & walk-in pantry. The spacious primary bedroom has a large bathroom, dual sinks, walk in shower & walk-in closet. Charming guest bedroom w/adjacent bath. Enjoy the beautiful landscape from the extended back patio with privacy wall and pavers. 2 car garage with tandem 4ft extension, great for a golf cart, or additional storage. Additional features: Soft water system, tankless water heater, security door, additional iron fencing with gate access on both sides of the house. Front & backyard pavers & drip system for landscaping. Sun City Festival is an active adult community with plenty of activities. Complete gym, pickleball court, group classes, 27-hole golf course, 2 resort-style pools, onsite rec center, walking trails, and an indoor walking track. Don't miss the opportunity, come see this home today.

8723 E Sandtrap Court Gold Canyon, AZ 85118

$459,000
2 Beds
2 Baths
1,812 SqFt
Status Active
MLS # 6553229
Property Type Townhouse
Price Type --
Price reduction and seller willing to do below market rate seller financing. Contact agent for details. Welcome to this beautiful 2-bed, 2-bath Townhome in the gated Fairway Views! A paver courtyard and a 2-car garage w/attached cabinets are just the beginning. Inside the previous owner completely remodeled the interior of this home in 2021. New vinyl flooring, interior paint, custom Stone Creek cabinets in kitchen, bathrooms, laundry, and dry bar. New quartz countertops with travertine backsplash, baseboards, doors, custom showers and bathtub, new water heater/RO/water softner and Pella sliding doors. New light fixtures/fans, faucets and supply lines, Whirlpool print resistant appliances, Zephyr wine and beverage cooler with separate temperature settings and lots more! Home has desirable open layout, layered crown molding, a skylight, neutral paint and tons of natural light. Master bedroom has backyard access and an ensuite with dual sinks, travertine step-in shower, & a walk-in closet. Secondary bedroom also includes a private bathroom for added comfort. Enjoy the private backyard offering a covered patio, pavers, built-in BBQ, & exterior fireplace for chilly nights! You MUST see it!

3007 E Woodland Drive Phoenix, AZ 85048

$459,000
3 Beds
2 Baths
1,242 SqFt
Status Active
MLS # 6614031
Property Type Single Family Residence
Price Type --
NEW ROOF March 2024! Welcome to Mountain Park Ranch! This gem won't be around long, so be sure to plan your visit today! The seller has taken great care and added many improvements such as the kitchen renovation in 2017, the master bathroom remodel was completed in 2023, and the exterior was painted in 2020! The property is North/South facing, has an RV gate, is a corner lot and nearby the 202 freeway for an easy commute! The community offers lakes, parks, walking paths, there are multiple community pools nearby, and the house is kitty corner from Vista Canyon Park! There is plenty of shopping nearby such as Trader Joes, Dutch Brothers, Starbucks, Frys grocery store along with plenty of dining options!

12002 N Rio Vista Drive Sun City, AZ 85351

$459,000
2 Beds
2 Baths
1,999 SqFt
Status Active
MLS # 6629615
Property Type Single Family Residence
Price Type --
WELCOME HOME TO THIS BEAUTIFULLY REMODELED TWO BEDROOM TWO BATH HOME. LOOKIG FOR AN ENTERTAINER'S KITCHEN BOASTS GRANITE COUNTER TOPS, UPDATED APPLIANCES, INDUCTION STOVE TOP, TONS OF STORAGE, KNOTTY ALDER CABINETS. THE BATHROOMS HAVE BEEN UPDATED WITH BEAUTIFUL WALK IN TILE SHOWERS. ENJOY THE BEAUTIFUL GOLF COURSE VIEWS AND SUNSETS IN YOUR SCREENED IN PATIO. ALL MAJOR TICKET ITEMS HAVE BEEN REPLACED WITHIN THE LAST 3 YEARS.

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