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.

What’s Your Home Worth?

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1901 E Marquette Drive Gilbert, AZ 85234

$495,000
3 Beds
2 Baths
1,434 SqFt
Status Active
MLS # 6671076
Property Type Single Family Residence
Price Type --
Home, sweet home! Check out this fantastic 3 bedroom, 2 bathroom residence located in Val Vista Lakes. You're greeted by a spacious open layout showcasing gleaming wood-look floor, striking vaulted ceilings, and soothing color palette throughout. The well-appointed kitchen boasts wood cabinetry, stylish mosaic backsplash, granite counters, recessed lighting, stainless steel appliances, a pantry, and a center island complete with a breakfast bar. Discover the serene main bedroom comprised of a private bathroom with dual sinks and a generously sized closet. Enjoy hosting intimate gatherings in the quaint backyard featuring a full-length covered patio, manicured landscape, and a built-in BBQ! This value won't disappoint!

140 W Thompson Road Payson, AZ 85541

$495,000
4 Beds
2 Baths
1,901 SqFt
Status Active
MLS # 6574951
Property Type Single Family Residence
Price Type --
Rare and beautiful Cabin nestled in the woods! Minutes from Payson and 300+- feet from Tonto National Forest where wildlife and trails are in abundance, a bird watchers dream. Just three miles from Tonto Creek and 20 minutes away from the Rim lakes. A great family friendly neighborhood for children to roam, ride, and play outdoors! Five bedrooms, two bathrooms provide you lots of space. Open concept, Chef's Kitchen, butcher-block counters, high ceilings, beautiful wood floors, full laundry, spacious deck, and a backup generator. Many additional upgrades and finishes to satisfy! This home is furnished and is perfect for a fulltime residence, weekend getaway or possible Air B&B. Truly a must see!

2425 W Bronco Butte Trail Phoenix, AZ 85085

$495,000 - 3Br/2Ba -  for Sale in Desert Village At Sonoran Foothills Lot 1 Condomin, Phoenix
Open House
$495,000
3 Beds
2 Baths
1,817 SqFt
Status Active
MLS # 6673092
Property Type Townhouse
Price Type --
This unit is located in a private and quiet - gated community in Sonoran Foothills, and is in a desirable location within the community.. A newer build - turn key - upper level / corner unit.. 2 car garage and many upgrades - Finished Laundry with sink and cabinets. Community has its own pool and workout room, plus access to all amenities of Sonoran Foothills - park, tennis, basketball, pool, tot lot, walking trails, volleyball, and much more.. This area of N. Phoenix is becoming more desirable by the minute.

16454 W Sandia Park Drive Surprise, AZ 85374

$495,000 - 2Br/2Ba -  for Sale in Sun City Grand-mountain View 1, Surprise
Open House
New
$495,000
2 Beds
2 Baths
1,870 SqFt
Status Active
MLS # 6675317
Property Type Single Family Residence
Price Type --
Come see why this PALO VERDE plan in the wonderful 55+ community of Sun City Grand is so popular. This split floorplan with 2 bedrooms and a den has been extended to include bay windows in the breakfast nook and primary bedroom. Before you enter this well-maintained home, you will be greeted with a beautifully designed courtyard with a seating area and lighting for enjoying the beautiful Arizona evenings. Inside, you are greeted with an open living room and kitchen with stainless steel appliances and granite countertops. Your eyes will be drawn to the beautiful crown molding in the main areas. Ceiling fans in every room and 3 solar tubes have been added to allow more natural light in. Custom plantation shutters throughout, tile floors in all common areas with upgraded carpeting in the bedrooms. The expanded back patio is perfect for morning coffee or entertaining, featuring a built-in gas grill, shaded by an extended roof. There are several seating areas with a large motorized awning and ceiling fans to keep you cooler on those warm sunny days. On cooler evenings you can enjoy the hot tub and beautiful sunsets. There is a whole-home water filtration system and water softener. The gas hot water heater and HVAC were replaced in 2022. The garage has loads of built-in cabinets, providing ample space for storage, and a drive-up golf cart storage area. The Grand provides residents an active close-knit community with resort-style amenities that include four 18-hole golf courses, 3 restaurants, state of the art fitness center, day spa, 4 outdoor pools, indoor pool, card rooms, multi-purpose trails, tennis, pickleball & bocce courts, softball field, fishing lake, many social clubs & activities.

1144 E Hiddenview Drive Phoenix, AZ 85048

$495,000 - 2Br/3Ba -  for Sale in Miralago At The Foothills, Phoenix
Open House
$495,000
2 Beds
2.5 Baths
1,558 SqFt
Status Active
MLS # 6650367
Property Type Single Family Residence
Price Type --
Welcome to Miralago at the Foothills! This stunning, gated community is situated in the Ahwatukee Foothills. Two spacious bedrooms, one on the first floor and each with its own private ensuite. Vaulted ceilings, abundant natural light, neutral tones throughout. Other features include a water softener, sunscreens, and an open loft as well as solar. Step into the enclosed yard with a patio, perfect for morning coffee or afternoon relaxation. Residents can take advantage of a community pool and spa, as well as a private community center. Explore scenic walking paths along the lake, offering captivating mountain views. Conveniently located near golf courses, markets, and just a short distance from freeways, schools, restaurants, and more. Don't miss out - homes in Miralago are in high demand

4077 S Sabrina Drive Chandler, AZ 85248

$495,000 - 3Br/3Ba -  for Sale in Echelon At Ocotillo Condominium, Chandler
Open House
$495,000
3 Beds
2.5 Baths
1,586 SqFt
Status Active
MLS # 6658953
Property Type Townhouse
Price Type --
Nestled in the lush gated community of Echelon at Ocotillo, sits this charming 3-bedroom, 2.5-bathroom townhome with South facing front door and a large South facing courtyard patio. Experience the thoughtfully designed floorplan with spacious living areas bathed in natural light and sleek contemporary tile throughout the first floor. The chef's kitchen offers designer finishes with white quartz countertops, a gas range, R/O, white subway tile backsplash, pendant lighting and stainless-steel appliances. Upstairs are 3 spacious bedrooms and a beautiful master bathroom with double sink vanity. Echelon at Ocotillo welcomes you with an elegant palm tree lined gated entrance where you are immersed into the tranquil surroundings of the community featuring scenic water features, Sparkling blue pools, spa, cabanas, lounge areas, pickleball court and playgrounds. Echelon at Ocotillo allows you to have a peaceful retreat without sacrificing the convenience of urban living.

18009 N 129th Drive Sun City West, AZ 85375

$495,000 - 3Br/3Ba -  for Sale in Sun City West Unit 9, Sun City West
Open House
$495,000
3 Beds
3 Baths
2,874 SqFt
Status Active
MLS # 6671466
Property Type Single Family Residence
Price Type --
W E L C O M E to this newly-upgraded 2,874 sq.ft residence. Inside, you'll find a perfectly flowing layout showcasing a large expensive floor plan. clean lines and sleek designs. Soothing palette, recessed lighting & wide plank vinyl flooring are features you'll love! The stunning kitchen boasts granite & butcher block counters, updated cabinets with custom accents, black and SS appliances, custom island, walk-in pantries. End your busy day in your primary master suites with a jacuzzi tub. Lavish bathrooms, custom vanities, expansive custom showers. Large walk in closets in each room. Spend relaxing afternoons in the expansive large backyard patio, plenty of space for entertaining! 16,900 cul-de-sac lot. This home is a dream come true! Don't miss outi Living Room, Formal Dining Room, Family Room, Office, Primary Master Suite with/classic French doors that open to a private sitting room.

5345 E Harmony Avenue Mesa, AZ 85206

$495,000 - 4Br/3Ba -  for Sale in San Michelle, Mesa
Open House
$495,000
4 Beds
3 Baths
2,135 SqFt
Status Active
MLS # 6679289
Property Type Single Family Residence
Price Type --
Welcome to this wonderful 2 story home in the highly sought after gated community of San Michelle. This home is conveniently located right off the 60FWY without any of the noise. The home features 4 bedrooms and 3 full baths. You will be greeted by a spacious living room as you enter this home. Just a few steps away you will access the formal dining room and spacious family room for the whole family to entertain. The kitchen boasts upgraded cherry kitchen cabinets and stainless steel appliances with tons of counter space and eat in breakfast bar. home features plantation shutters throughout and gorgeous laminate flooring. Step into the LOW-MAINTENANCE backyard with SYNTHETIC TURF & expanded patio area to relax and have some margaritas this summer. Come see this home and make it yours.

18626 W Honeysuckle Drive Surprise, AZ 85387

$494,995
3 Beds
3 Baths
2,092 SqFt
Status Active
MLS # 6645411
Property Type Single Family Residence
Price Type --
Explore this exceptional Emerald home on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; 3 Bedroom and Study, a well-appointed kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a roomy pantry and a center island; an elegant dining room; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops and shower bench; a large living room; a convenient laundry; an additional suite with living room space and its own separate entry door, bedroom and 3rd Bath, a covered patio and a 3-car garage. This home also offers wood laminate flooring, ceiling fan prewiring and additional windows in select rooms.

2628 E Hollywood Ike Avenue San Tan Valley, AZ 85140

$494,990
3 Beds
2.5 Baths
2,178 SqFt
Status Active
MLS # 6679011
Property Type Single Family Residence
Price Type --
Located in San Tan Valley, this adorable single story, 2178 square foot residence boasts a meticulously designed living space. Crafted with a keen eye for both style and functionality, this home harmoniously blends modern elegance with timeless comfort. This home seamlessly integrates open-concept living, featuring a den, 4-panel center sliding glass door, a large kitchen adorned with quartz countertops and stainless steel appliances. The expansive owner's suite includes dual vanities in the bathroom and a large walk-in closet. Additional bedrooms offer ample space for family or guests, each thoughtfully designed with comfort in mind. Complete with a 4-car garage, two car tandem and a super garage, this residence represents the epitome of ideal living.

3445 Pine Creek Drive Pine, AZ 85544

$494,950
3 Beds
2 Baths
2,082 SqFt
Status Active
MLS # 6647283
Property Type Single Family Residence
Price Type --
SELLER IS OFFERING $5000. TOWARDS CLOSING COST FOR ACCEPTED OFFER! Step into a haven of comfort with this inviting farmhouse, seamlessly integrating the charm of a cabin in its two-story design. The large great room welcomes you with a spacious kitchen boast black appliances, wood beams, and accents, creating a warm and timeless ambiance. Indulge in relaxation with a claw foot tub, adding a touch of classic luxury. The second floor unfolds into a family room and bedrooms, complemented by a new trek balcony and a trek wrap-around deck, offering panoramic views. The metal roofs on all buildings ensure durability and a modern aesthetic. Two sun awnings, one shading the deck and the other enhancing the entrance of bonus living space in the 2-room casita, provide ample outdoor comfort. T The large front yard is embraced by wood fencing, the side and back yards boast wood privacy fencing, offering seclusion, while a separate dog yard and chicken pens cater to a harmonious rural lifestyle. Experience the perfect blend of style, functionality, and tranquility in this farmhouse retreat.

17645 W Hatcher Road Waddell, AZ 85355

$494,935 - 4Br/3Ba -  for Sale in Zanjero Pass Phase 1, Waddell
Open House
$494,935
4 Beds
3 Baths
2,242 SqFt
Status Active
MLS # 6674682
Property Type Single Family Residence
Price Type --
This NEW Construction home has 2,242 square feet, 4 bedrooms + a den, 3 full bathrooms, and a 2 car garage! Est. to close in July. Our Blackstone features 36'' white shaker cabinetry, quartz counter tops, a large kitchen island, 12 x 24 plank tile, an upgraded 12 ft slider in the great room and 9' ceilings throughout. We offer efficiency and technology with our included smart home features, as well as dual pane low-E windows, ceiling fan pre-wires, under cabinet lighting in the kitchen, and window coverings. The exterior features front yard desert landscaping, a covered patio and private backyard. Located off the 303, this community is near Costco, Safeway, and shopping. Finishes may vary from sample photos

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