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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3660 E Montecito Avenue Phoenix, AZ 85018

$449,000
2 Beds
2 Baths
1,289 SqFt
Status Active
MLS # 6614597
Property Type Townhouse
Price Type --
GORGEOUS REMODEL! Nestled in the popular Arcadia Villa Rey! This lovely home features BRAND NEW LVP flooring throughout, NEW top to bottom paint and a completely remodeled kitchen boasting wood cabinets, waterfall quartz counters , BRAND NEW stainless steel appliances and an open breakfast bar! Continue to the main suite, showcasing a beautiful remodeled en-suite, walk-in closet, & a separate outdoor access. ! Located in the very desirable Arcadia area. This gem will not last long!

2302 N Central Avenue Phoenix, AZ 85004

$449,000
2 Beds
2 Baths
1,277 SqFt
Status Active
MLS # 6599361
Property Type Apartment
Price Type --
WOW! Simply-stunning complete REMODEL of gorgeous condo in historic Willo District with amazing views of downtown and the Valley! Spacious split-floorpan 2 bedrooms/2 baths + Den/Office. Bright, open all-new kitchen with beautiful cabinets, quartz countertops, and stainless-steel appliances including gas cooktop. Contemporary styling throughout with popular flooring and fixtures. Dramatic bathroom remodels for both bathrooms. Private patio with panoramic views of the Valley! High-end complex with 2 parking spots in underground garage, gated entrances, heated lap pool, fitness room, and more! Light rail station literally out the front door. Lots of restaurants, shops, and extremely close to the Heard & Phoenix Art Museums.This remodeled gem will give you the lifestyle you want!

5900 E Hickory Court Hereford, AZ 85615

$449,000
3 Beds
2 Baths
2,389 SqFt
Status Active
MLS # 6621675
Property Type Single Family Residence
Price Type --
Stunning views will take your breath away. Located in the gated community of Three Canyons. This beautiful home sits on a 1-acre lot, with almost 2400sqft of spacious living. There are 3 generous sized bedrooms plus a separate office with double doors off the foyer entrance. 2 baths; master offers a garden tub & walk-in shower. Great room with adorable built-in shelves, family room, & large kitchen w/stainless steel appliances. Oversized laundry w/cabinetry, countertop & closet. 3-car garage w/built-in shelving, workbench & water softener. Step out back through French doors to a large covered porch & extended patio. Fully fenced block wall w/RV & pedestrian gates. Incredible views of the majestic Huachuca Mountains. High Speed Internet is included in the annual HOA assessment.

12926 W Beechwood Drive Sun City West, AZ 85375

$449,000
3 Beds
2 Baths
2,454 SqFt
Status Active
MLS # 6635070
Property Type Single Family Residence
Price Type --
Don't miss this desirable Castillo model now on the market. This 3-bedroom, 2 bath split bedroom floor plan has a great deal to offer. Laundry has been moved in from garage adding square footage and an office/craft area. No popcorn ceilings and no carpet in this house! There's plenty of outdoor living space with the front courtyard and the back covered patio. Back yard provides exercise & relaxation in one with its ''Endless Pool'' & Hot Tub combination! Located in the heart of Sun City West, this home is close to shopping, restaurants, golf and Rec Centers! Own this great home and begin enjoying all the amenities of Sun City West!

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