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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13651 N 79th Lane Peoria, AZ 85381

$465,000 - 4Br/2Ba -  for Sale in 83rd Avenue & Thunderbird, Peoria
Open House
$465,000
4 Beds
2 Baths
1,821 SqFt
Status Active
MLS # 6693268
Property Type Single Family Residence
Price Type --
Welcome home, nestled in the vibrant community of Peoria, AZ. This residence offers a blend of sophistication and comfort. As you step inside, you are greeted by a seamless open concept design, adorned with pristine tile flooring that flows effortlessly throughout the home and vaulted ceilings. The spacious living areas provide the perfect setting for both relaxation and entertainment, while the kitchen beckons with its sleek appliances, and solid surface countertops. Outside, a private oasis awaits, featuring a sparkling pool enveloped by a full covered patio and surrounded by stylish pavers. Ideally situated in a prime location, this home offers easy access to a plethora of amenities.

19514 N 84th Avenue Peoria, AZ 85382

$465,000 - 2Br/2Ba -  for Sale in Scotland Hills Phase 1 At Westbrook Village, Peoria
Open House
$465,000
2 Beds
2 Baths
1,448 SqFt
Status Active
MLS # 6694726
Property Type Townhouse
Price Type --
This UPDDATED, end-unit Casita is a stunning ST THOMAS floorplan packed with desirable features. Both bathrooms remodeled - raised vanities, Granite counters, updated showers. Plank tile flooring throughout, complemented by custom floating shelves and built-ins in the great room with slate accents. Recessed lighting adds ambiance, and check out the unique, custom bookshelf with hidden storage! The primary bathroom has been reconfigured to enlarge the shower. Kitchen enhancements include Stainless Steel appliances, Quartz counters & windowsills, gray cabinets and under-cabinet lighting. Utility area with built-ins and Quartz counters provide a nice workspace. Windows and sliders have been replaced with Vinyl. Guest room is enhanced by a stunning slate wall and built-in custom cabinetry. You'll love the versatility offered by mechanical interior shades in the Great Room, mechanical shades for all 3 sides of the patio, and roller shades for the rear of the home. Covered area is expanded by the addition of a pergola with adjustable slats. With a new air conditioner in 2020 and a roof covered by the HOA, this home offers peace of mind and efficiency. Additional upgrades such as a new garage door and opener further enhance its appeal. Plus, the option to purchase most furniture outside of escrow provides an opportunity for seamless move-in and personalized touches. Come and enjoy the Active Adult lifestyle of Westbrook Village!

14548 W Poinsettia Drive Surprise, AZ 85379

$465,000 - 3Br/3Ba -  for Sale in Mountain Gate Phase 3 & 4, Surprise
Open House
$465,000
3 Beds
2.5 Baths
2,291 SqFt
Status Active
MLS # 6677396
Property Type Single Family Residence
Price Type --
This designer home in the gated Copper Canyon community has no neighbors behind, offering park views. It features a gourmet kitchen with granite countertops, stainless appliances, and a large island that opens to a family room with a gas fireplace and screened-in patio. The home includes three bedrooms; the master suite has wood laminate flooring, a custom closet, and a luxurious bath. Additional amenities include a laundry room, office space, and a two-car garage with storage. Conveniently located near shopping and highways, this home combines comfort with convenience. Discover this charming home overlooking a community park, with a low-maintenance yard and two-car garage. Inside, enjoy a functional layout with three bedrooms, 2.5 bathrooms, a well-equipped kitchen, and a screened patio. perfect for Arizona's climate. The backyard features a paved seating area and view fence, ideal for relaxation and entertainment.

40243 W Michaels Drive Maricopa, AZ 85138

$464,995
4 Beds
3 Baths
2,220 SqFt
Status Active
MLS # 6630712
Property Type Single Family Residence
Price Type --
Explore this impressive Raleigh home. Included features: an inviting covered entry; a guest suite with a bathroom in lieu of a study; an open dining area; a gourmet kitchen offering a double oven, quartz countertops, tile backsplash, stainless-steel appliances, a center island and a walk-in pantry; a spacious great room boasting center-meet doors leading onto a relaxing covered patio; a convenient laundry; a lavish primary suite showcasing a generous walk-in closet and a deluxe bath with double sinks; a teen room in lieu of a bedroom; a storage area; a mudroom and a 2-car garage. This home also offers ceramic tile flooring in select rooms.

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