Mortgage Interest Rates Reverse Course in 2017

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase. Some thought we could see rates hit 5-5.5% by the end of the year.

However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by Freddie Mac). Here is a graph of mortgage rate movement since the beginning of the year:

Projections still call for an increase…

Four major entities (Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors) are still projecting that rates will increase by the fourth quarter of the year.

Bottom Line

No one knows for sure where interest rates will be in six months. However, if you are thinking about buying your first house or trading up to the home of your dreams, you can still get a mortgage at historically low rates RIGHT NOW.  Give me a call to get started.  J.P. Cook – 602-320-4253.

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11005 W Hadley Street Avondale, AZ 85323

$458,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6680585

Property Type Single Family Residence

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Explore this stunning Slate home on a corner lot, ready for quick move-in! Included features: a welcoming covered entry; a spacious great room with 12' center-meet doors leading onto a serene covered patio; a dining nook; an open kitchen boasting white 42'' upper cabinets, 3x6 backsplash, quartz countertops, a walk-in pantry, an island and stainless-steel appliances, gas range. a central laundry; an elegant primary suite showcasing an added window, a generous walk-in closet and a private bath with double sinks, a shower and a soaking tub with 12x12 tile surround; three secondary bedrooms, including one with an attached bath; a third full bath and a 2-car garage with a service door. This home also offers cultured marble bathroom countertops, 7''x22'' ceramic tile flooring, ceiling fan prewiring, front yard landscaping, and a concrete-paver driveway and walkway. Also included is a belt drive garage door opener, soft water pre-plumb, and a gas stub at the back patio, plus more.

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2755 E Tie Down Drive San Tan Valley, AZ 85140

$458,990

5 Beds

3 Baths

1,968 SqFt

Status Active

MLS # 6691396

Property Type Single Family Residence

Price Type --

Welcome to Wales Ranch! San Tan Valley's newest master planned community. A wealth of amenities to enjoy. Homeowners will enjoy easy access to great local attractions and amenities, including shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. A copy of the public report is available on the Arizona Department of Real Estate's website.

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5487 S 251st Drive Buckeye, AZ 85326

$458,990

4 Beds

3 Baths

2,301 SqFt

Status Active

MLS # 6648977

Property Type Single Family Residence

Price Type --

Welcome to The Residences at Copper Falls! April Move-In. Amazing split floor plan with mother-in-law suite, flex room, all four bedrooms are spacious, and adorned with designer upgrades. Flex room for office/formal dining/game room! Highlights include GE stainless steel appliances, granite countertops in the kitchen, a tiled kitchen backsplash, and 36'' white shaker cabinets with hardware. Additionally, the home boasts upgraded tile flooring, ceiling pre-wires in all bedrooms and the great room, a soft water loop, Smart Home, and more! Enjoy Copper Falls amenities, including a tot lot, Ramada, BBQ grills, bike rack, and a half basketball court.

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24704 N 170th Lane Surprise, AZ 85387

$458,990

5 Beds

3 Baths

1,939 SqFt

Status Active

MLS # 6689556

Property Type Single Family Residence

Price Type --

Below Market Financing Available!!!!!!!!! This single-story home features ample space for growing households. The owner's suite is situated toward the back of the home, complete with an en-suite bathroom and walk-in closet, while four secondary bedrooms provide ample space for household members, overnight guests or a home office. The Great Room, kitchen and dining room share an open floorplan with access to the covered patio through sliding glass doors. Photos are renderings of a model home, not the actual home.

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