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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Avenida Ostiones Sec 6 Lot 20 -- Outside Of Usa 00000

$460,000
4 Beds
3.5 Baths
2,551 SqFt
Status Active
MLS # 6621817
Property Type Single Family Residence
Price Type --
Nestled in the serene coastal community of Las Conchas, this beautiful under-construction custom home with scheduled completion for Summer 2024 offers a rare opportunity to live the ultimate beachside lifestyle. The home's architecture is a harmonious blend of modern design and coastal charm. Clean lines, large windows, and high ceilings create a sense of space and light throughout. The home offers two primary suites located on the second and first floors. On the first floor, a two car gararge, a primary suite with a walk-in shower and a generously sized walk-in closet, two secondary bedrooms, a laundry room, a full bathroom, and a living room. The upstairs features an open space living-dining room, a kitchen fully equipped with cabinetry, and a spacious island perfect for casual dining or entertaining guests. Also, a half bathroom and a second primary suite with access to the main terrace overlooking the ocean, a spa-like bathroom with a walk-in shower, and a generously sized walk-in closet. Lastly, a relaxing rooftop terrace with glass railing to enjoy the beautiful sea of Cortez. Take advantage of our pre-construction pricing now!

21743 N Daniel Drive Maricopa, AZ 85138

$460,000
3 Beds
2 Baths
2,073 SqFt
Status Active
MLS # 6688227
Property Type Single Family Residence
Price Type --
Experience modern luxury in this 2023-built gem located inRancho El Dorado, Maricopa City. Unlike typical spec homes, this residence was meticulously crafted from scratch, offering premium finishes and upgrades. With 3 beds, a den, 2 baths, and an oversized garage, it's perfect for both relaxation and entertaining. Enjoy natural light, front yard landscaping, and included appliances. Plus, access Rancho El Dorado's amenities. Don't miss out on this rare opportunity for upscale living at an unbeatable price.

4505 E Del Rio Street Gilbert, AZ 85295

$460,000
3 Beds
2 Baths
1,299 SqFt
Status Active
MLS # 6631099
Property Type Single Family Residence
Price Type --
A must see! This lovely home in a wonderful Gilbert neighborhood. The home is located near ample shopping and restaurants on a spacious corner lot. It boasts beautiful finishes, stainless steel appliances, granite countertops, high end bathroom fixtures, and newer flooring. The backyard is perfect for entertaining. It is spacious, private, and includes a newer 8 person hot tub with a warranty. The side yard contains an enclosed dog run with a custom built air conditioned dog house. Tesla charger is installed located in the garage. Air conditioner was replaced in 2020 and hot water heater replaced in 2021. Air conditioning and plumbing have been maintained and serviced every 6 months by Goettle and Pest Control serviced monthly by Simply Green. Don't miss this one!!

3409 S 90th Avenue Tolleson, AZ 85353

$460,000
3 Beds
2 Baths
2,169 SqFt
Status Active
MLS # 6676331
Property Type Single Family Residence
Price Type --
Welcome to this stunning move in ready home loaded with all the bells and whistles! Spacious 3 bedroom 2 bath + den with option of converting to 4th bedroom. Fresh interior paint, new Trane A/C unit, new pool with travertine decking and new PAID OFF solar panels. Surveillance system with built in cameras and monitor/hard drive. Open concept floor plan with oversized kitchen island, stainless steel appliances, granite counter tops and dark cherry maple cabinetry. Floor plan makes it easy to entertain guests with easy flow into the backyard, perfect to enjoy on a hot summer day!

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