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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2682 N 158th Drive Goodyear, AZ 85395

$460,000

2 Beds

2 Baths

1,824 SqFt

Status Active

MLS # 6665928

Property Type Single Family Residence

Price Type --

Now here's a really nice home, situated on a cul-de-sac lot, and priced to sell. This is the ever-popular Newport model offering: 2 bedrooms, 2 baths, office, open concept living and more. The main suite is spacious with roomy bath and built-ins in the closet. All tile floors thru-out. The lot is connected to common area, so there's no walls to make you feel closed in. This is a well-cared for home that will be sure to please.

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17719 N 113th Avenue Surprise, AZ 85378

$460,000

3 Beds

2 Baths

1,934 SqFt

Status Active

MLS # 6663313

Property Type Single Family Residence

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Welcome to the Gated Community of Canyon Ridge West! This stunning home offers privacy with no neighbors behind and boasts a sparkling pool with a soothing waterfall feature, along with a convenient RV gate and added parking for all your outdoor storage needs. Inside, vaulted ceilings with tubular skylights and neutral tile floors create a spacious ambiance. The flexible layout includes a private den and ample living space. New HVAC in 2024! *Edited Neutral paint photos added.

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2150 W Alameda Road Phoenix, AZ 85085

$460,000

4 Beds

3.5 Baths

1,861 SqFt

Status Active

MLS # 6667331

Property Type Townhouse

Price Type --

Lovely Townhome Ideally Situated in the Sought After Gated Community of Villagio at Happy Valley. This well-kept home boasts 4bds/3.5ba with the primary suite having its own balcony to enjoy Arizona's beautiful weather. Gourmet kitchen offers granite countertops, stainless steel appliance package, and breakfast bar that provides ample seating and overlooks your great room - ideal for entertaining! Enjoy community amenities that include a community pool, spa, BBQs, and spacious landscape areas. Prime location that has easy highway access to I-17, minutes from local attractions that include The Shops at Norterra, Desert Ridge MarketPlace, and Outlets at Anthem.

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4217 W Barbara Avenue Phoenix, AZ 85051

$460,000

4 Beds

2 Baths

2,064 SqFt

Status Active

MLS # 6668378

Property Type Single Family Residence

Price Type --

Discover the allure of this tastefully updated single-story home with no HOA! It displays a desert front yard, a 2-car garage, an RV gate, and a private courtyard for welcoming guests. You'll love the spacious living areas filled with ceiling fans, recessed lighting, and one with a brick-wall fireplace and outdoor access. The home exudes charm with fresh paint, chic light fixtures, and wood-plank flooring. The kitchen provides SS appliances, granite counters, white cabinetry, a breakfast nook, a walk-in pantry, and a peninsula with a breakfast bar. Retreat to the generous main suite, showcasing designer's paint, backyard access, a dedicated bathroom, and a walk-in closet. Plunge into the diving pool during hot weather days, and it is perfect for year-round entertainment. Visit now

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