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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6322 E Beckett Trail Prescott Valley, AZ 86314

$515,000
3 Beds
2 Baths
1,687 SqFt
Status Active
MLS # 6681332
Property Type Single Family Residence
Price Type --
This former model home, located in the desirable subdivision of Granville, offers a range of attractive features and amenities. The home features a popular great room concept layout with an open living room, dining room, and kitchen. The interior is adorned with abundant upgrades including raised height baseboards, luxury vinyl plank flooring throughout the common areas, two-tone paint, high-quality window coverings and numerous ceiling fans. The kitchen is equipped with generous countertop space, a large pantry, pendant lighting and a stainless basin sink with an upgraded faucet. The master suite is spacious and includes a well-designed bathroom with dual vanities, private water closet, large walk-in closet and walk-in shower. For added privacy, the 2 guest rooms & guest bath are separate from the master suite and flanked by a well appointed full bathroom. Both the front and back yards feature gorgeous low-maintenance landscaping that perfectly complements the immaculate interior. The front yard boasts a lovely covered patio, a rarity for Granville and perfect to pass the summer days watching people stroll by. The park-like backyard is fully fenced, features attractive trees and bushes, a covered patio, oversized paver patio extension, and low-maintenance artificial lawn. The fabulous views of Glassford Hill and Granite Mountain in the distance are the icing on the cake! The oversized 2.5 car garage has built in storage cabinets and plenty of room for a workshop, tools, etc. Additional notable features of this home include 10' ceilings throughout, a high-end security screen door, and an owned soft water system. Furthermore, residing in the Granville community grants access to numerous parks, three separate clubhouses with pools and fitness centers, a dog park, pickleball courts, and covered RV parking. With all of these outstanding features and amenities, this home will not remain on the market for long!

5211 N 81st Avenue Glendale, AZ 85303

$515,000
3 Beds
2.5 Baths
2,320 SqFt
Status Active
MLS # 6679880
Property Type Single Family Residence
Price Type --
BACK ON MARKET! Welcome home to El Prado, one of Glendale's newest communities. This perfect 3 bedroom 2.5 bathroom home was recently built in 2021, meticulously crafted by Taylor Morrison. From the moment you walk through the front door, you will be captivated by the open floor plan, modern design, and clear view through massive sliding glass doors leading into the backyard. A split 3 bedroom floor plan with added office space provides enough room for all of your family activities as well as privacy, when desired. The 24' tandem 3 car garage equipped with electric charging is perfectly suitable for your vehicles and added storage space. In this new community situated just two miles from state farm stadium, you can ensure an unforgettable family experience. Welcome Home

942 E Southern Avenue Phoenix, AZ 85040

$515,000
3 Beds
1 Bath
1,440 SqFt
Status Active
MLS # 6683094
Property Type Single Family Residence
Price Type --
This lot is zoned Commercial C-2, ready to start your business while living on property? Situated on the corner lot of Southern and S. 10th st, this 17,955 sqft lot has nearly 50,000 cars pass along this property every day. Home has 200 sqft basement for storage and converted garage for additional storage.

11676 W Levi Drive Avondale, AZ 85323

$515,000
4 Beds
3 Baths
1,970 SqFt
Status Active
MLS # 6690220
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the heart of the coveted Avondale community within Alamar! This methodically crafted home is highlighted by an inviting open-concept floor plan, perfect for both entertaining and everyday living. Step into the spacious living area adorned with a custom-built entertainment center, where relaxation meets sophistication. The updated gourmet kitchen is highlighted by roll out cabinets, gas cooktop and a large granite sink. This freshly painted home also boasts a 3-car tandem garage and thoughtful custom storage at the entryway. Beyond the sleek interior lies a masterfully designed backyard, offering a tranquil escape from the hustle and bustle of daily life. Enjoy gatherings around the cozy firepit, surrounded by plush seating that beckons you to unwind under the stars. Whether hosting friends or simply enjoying a quiet evening, this outdoor sanctuary provides the ultimate setting for unforgettable moments. Indulge in the luxury of modern living combined with the charm of the Alamar community. Don't miss the resident-only Hay Moon community park, complete with beautiful pool, playground, BBQ grills and large open spaces. Just 1 mile outside the community is the 40-acre Alamar Park which offers Pickleball, Dog Park, Tennis, Basketball, Splash Pad, Urban Fishing and so much more. With the recently opened Lakin Preparatory Academy this community truly has it all. Experience the essence of comfort, style, and serenity of this exceptional home in a thoughtfully built community.

1242 W Manhatton Drive Tempe, AZ 85282

$515,000
3 Beds
2 Baths
1,006 SqFt
Status Active
MLS # 6686208
Property Type Single Family Residence
Price Type --
This recently updated 3-bedroom, 2-bathroom home is conveniently located within a fifteen-minute drive of ASU, Spring Training Facilities, Old Town, Mill Ave, and Skyharbor. The spacious backyard features a pool, seating area, grill, putting green, sand pit, cornhole, and fire pit seating. The master bedroom boasts a walk-in closet and a full bathroom.

1637 Camino Cangrejo -- Rio Rico, AZ 85648

$515,000
3 Beds
2 Baths
2,177 SqFt
Status Active
MLS # 6687142
Property Type Single Family Residence
Price Type --
Beautiful hillside home with stunning views of the Rio Rico valley. This home has many custom touches inside and outside. From the mesquite breakfast bar, copper overlay counters & copper sink in the kitchen; to the custom medal doors & exterior metal artwork. This is a must see if you are looking for paradise on a hillside.

5634 S Outrigger Road Tempe, AZ 85283

$515,000
4 Beds
2 Baths
2,310 SqFt
Status Active
MLS # 6694099
Property Type Single Family Residence
Price Type --
Unlock the potential of this 4-bed, 3-bath two-story block construction home, ideal for savvy investors. Though it needs some TLC, its prime location in a community boasting fishing, boating, and courts for racquetball, tennis, volleyball, and basketball adds incredible value. Enjoy amenities like an Olympic heated pool, spa, fitness center, and scenic paths. Situated just over three miles from ASU University and with easy access to major highways like US 60, Loop 101, Loop 202, and the I-10, this property promises a lucrative investment opportunity ripe for transformation.

3659 S 63rd Drive Phoenix, AZ 85043

$515,000
5 Beds
3 Baths
1,939 SqFt
Status Active
MLS # 6690176
Property Type Single Family Residence
Price Type --
Welcome to modern luxury living in the tranquil Village at Estrella community. Discover the epitome of open-concept elegance in this gorgeous home, where natural light bathes spacious living areas designed for contemporary lifestyles. Imagine preparing gourmet meals in the sleek, chef-inspired kitchen equipped with top-tier appliances and a generous center island. Guests can mingle freely from the dining area to the plush comforts of the living room, anchored by chic design and seamless flow. Retire to your exquisite master suite, a sanctuary where relaxation is paramount—an en suite master bathroom complements it, promising a spa-like retreat after long days. Outdoors, revel in the serene ambiance of your low-maintenance backyard featuring a bespoke gas fire-pit—perfect for starlit

15923 W Summerwalk Drive Surprise, AZ 85374

$515,000 - 2Br/2Ba -  for Sale in Sun City Grand Desert Sage 2, Surprise
New
$515,000
2 Beds
2 Baths
1,894 SqFt
Status Active
MLS # 6689936
Property Type Single Family Residence
Price Type --
This is living in The Grand,step into luxury with this stunning Borgata model! The owners have created a private guest suite with the ability to close off this space in the home for ultimate privacy. If you are not hosting guests, you will be able to have that quiet area of the den all to yourself. This split floor plan is one of the most popular floor plans. The care and attention to this home are apparent with the freshly completed cool decking on the spacious front courtyard and walkways adding to the home's curb appeal. The spacious 3 car garage has recently had the epoxy coating updated There is plenty of room to entertain family and friends in the open concept great room, separate dining and OH my that spacious, expansive covered patio! WOW!!! Sit back & enjoy this oasis of pr

26842 N 66th Lane Phoenix, AZ 85083

$515,000
3 Beds
2 Baths
1,845 SqFt
Status Active
MLS # 6689581
Property Type Single Family Residence
Price Type --
Gorgeous split floorplan home in beautifully maintained gated community of Eagle Highlands. Nearby Peoria Regional Preserve & Paloma Community Park offer endless recreational opportunities! Home is on spacious lot w/ a peaceful, private backyard. Ten ft ceilings & lots of natural light give home an open, spacious feel. Large, comfortable living room w beautiful built in entertainment center leads directly to back patio. Bright & spacious eat-in kitchen, rich granite counters, gleaming SS appliances. Large, luxurious primary bedroom w/ spacious adjacent sitting area or office space. Elegant primary bathroom, dual sinks, separate tub & shower, huge walk in closet w/ custom storage. Secondary bedrooms both very spacious. Beautifully landscaped backyard w covered patio & great mountain views! Home has rich, beautiful wood floors throughout most of home, and plush carpet in the two secondary bedrooms. Large laundry room with built in shelving, and spacious two car garage. Primary bedroom is currently configured as a home office, with the adjacent sitting room serving as a bedroom! The sitting room could be a quiet reading room, exercise space, or incredible home office. The possibilities are endless. Don't miss the opportunity to see this beautiful home today!

11430 N 37th Avenue Phoenix, AZ 85029

$515,000
4 Beds
2 Baths
1,962 SqFt
Status Active
MLS # 6692489
Property Type Single Family Residence
Price Type --
This stunning 5-bed, 3-bath furnished rental home awaits in a prime Phoenix locale. Step into a charming front yard, with a 2-car garage and extended driveway. Inside, revel in a formal living room, recessed lighting, designer paint, and wood flooring throughout common areas. The kitchen boasts SS appliances, quartz counters, subway tile backsplash, and white shaker cabinets. Two main bedrooms feature walk-in closets and luxurious ensuites with tiled showers. Outside, a paver-covered patio and fenced pool beckon, along with a side yard boasting a stacked-stone fireplace and built-in BBQ grill. Don't miss this gem!

8038 S 54th Lane Laveen, AZ 85339

$515,000 - 4Br/3Ba -  for Sale in Cheatham Farms West, Laveen
New
$515,000
4 Beds
2.5 Baths
2,403 SqFt
Status Active
MLS # 6689698
Property Type Single Family Residence
Price Type --
Desirable 4 bedroom 3 bath floor plan with a sparkling blue pool home situated on a spacious corner lot in the sough after Cheatham Farms neighborhood! featuring bold decorative tones throughout. The formal living room offers soaring ceilings and fashionable staircase, separate formal dining leads to the sizable open kitchen, complete with new upgraded appliances with plenty of space to entertain as the kitchen flows through the family room out to your back patio. with a lots of space surrounding the pool for entertaining. The den downstairs is being used as a bedroom, this home is perfect for accommodating guests. With 4 more rooms upstairs the large primary suite is a great layout. Located in the heart of Laveen, you're just minutes away from dining options, easy access to the 202.

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