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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10830 W Grant Street Avondale, AZ 85323

$464,995

3 Beds

2 Baths

1,860 SqFt

Status Active

MLS # 6693990

Property Type Single Family Residence

Price Type --

Discover this stunning Sunstone home, ready for quick move-in! Included features: a private study; a spacious great room overlooking a serene covered patio; a dining nook; a thoughtfully designed kitchen boasting 42'' upper cabinets, quartz countertops, a walk-in pantry, a center island and stainless-steel appliances, including a gas range; a central laundry; and a lavish primary suite showcasing dual walk-in closets and an attached bath. This home also has upgraded stone tile flooring, cultured marble bathroom countertops, ceiling fan prewiring, front yard landscaping and a concrete-paver driveway and walkway.

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7423 W Northview Avenue Glendale, AZ 85303

$464,990

3 Beds

2.5 Baths

2,255 SqFt

Status Active

MLS # 6634845

Property Type Single Family Residence

Price Type --

Ready for Immediate Move-in! This exquisite 4-bedroom, 2.5-bathroom residence is fully upgraded, featuring 42-inch grey cabinets and quartz countertops. Enjoy the spacious layout, complete with a loft for additional versatility. The home is thoughtfully designed for your convenience. Don't miss this opportunity!! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long-term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. ***Prices subject to change, photos may be of a model home or virtually staged, actual home will vary.

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7410 W Northview Avenue Glendale, AZ 85303

$464,990

3 Beds

2.5 Baths

1,986 SqFt

Status Active

MLS # 6675709

Property Type Single Family Residence

Price Type --

This home is our amazing Concerto plan featuring 3-bedroom 2.5-bathroom and a 2-car garage on a larger north/south facing homesite within the desirable Alto gated community!!! The kitchen is beautifully upgraded with Valle Nevado granite counters, modern white full overlay cabinets accented with matte black hardware. and GE Stainless-steel appliances. The great room includes a multi-slide door to make indoor/outdoor living a breeze. Upstairs includes a large loft, 2 additional bedrooms, laundry and primary suite with spa-like bath. Ready for an April 2024 move-in! ^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply

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7227 N 74th Avenue Glendale, AZ 85303

$464,990

3 Beds

2.5 Baths

1,986 SqFt

Status Active

MLS # 6676548

Property Type Single Family Residence

Price Type --

Under Construction New build home with an April 2024 move-in!!!! This amazing home includers 3-bedroom 2.5-bathroom and a 2-car garage home in the desirable Alto gated community!!! This Concerto floor plan is expertly designed with quartz kitchen countertops, modern white full overlay cabinets, contemporary imperfect smooth walls, and stainless kitchen appliances to name a few. Don't miss out on this home!!^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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