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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12017 W Avenida Del Rey -- Peoria, AZ 85383

$510,000
3 Beds
2.5 Baths
2,423 SqFt
Status Active
MLS # 6685800
Property Type Single Family Residence
Price Type --
BEAUTIFUL CORNER LOT HOME SHOWS PRIDE OF OWNERSHIP. Located in a highly sought after Peoria subdivision close to Lake Pleasant, Great Schools, Shopping Centers, and Entertainment district. This home offers a bright and open floor plan, with a flex/office space, spacious kitchen with SS appliances, walk-in pantry, ample storage and counter space, large eat-in kitchen area that is open to the Great Room. Entertain in the backyard under the extended patio w/shaded pergola and party lights, nice size artificial grass area, and covered patio.Upstairs you will find a nice sized loft, an spaciouse owners suite perfect for relaxing and features His and Her walk-in closets, double vanity, garden tub and private shower. 2 additional bedrooms, bathroom and large laundry room..... This well thought out floor plan has room for everyone. And the community offers the following amenities: frisbee golf, basketball court, baseball field, and volleyball court.

26842 N 66th Lane Phoenix, AZ 85083

$510,000
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!

1635 W Dunbar Drive Phoenix, AZ 85041

$510,000
5 Beds
3 Baths
2,755 SqFt
Status Active
MLS # 6689208
Property Type Single Family Residence
Price Type --
Check out the biggest house on the block! 5 bedrooms 3 baths plus 2 bonus rooms that can be used as bedrooms/office spaces/playrooms/storage. Open concept kitchen with stainless steel appliances, walk in pantry and a generous living room. Upstairs you will find a large loft, the laundry room, master bedroom with a full bath and walk in closet and 3 spacious bedrooms. RV gate entrance and a low maintenance huge backyard. Great opportunity for big families, for nursery home care or airbnb.

4754 E Eden Drive Cave Creek, AZ 85331

$510,000
2 Beds
2 Baths
1,454 SqFt
Status Active
MLS # 6692572
Property Type Single Family Residence
Price Type --
Charming Gated Tatum Village! This Patio Home has been lovingly cared for -Turn Key READY Spotless 2 Bedroom 2 Bath with 2 car garage. Cabinets throughout refinished in 2022, guest bath Custom Shower 2022, AC 2016, Beautiful Security Door 2022, Washer/Dryer 2022, Water Heater, Instant Hot Water, Exterior Paint, Garbage Disposal, Microwave all in 2021. The list goes on -Eat in Kitchen features Stainless Appliances, Granite Counters. Flat roof just recoated 2023-Community offers Walking Trail, Heated Pool and Spa, Tennis Courts. Termite warranty - Minutes from Shopping, Golfing, Hwy 101, Desert Ridge and City North. Shows Beautifully!!! Funishings included in the sale.

2845 S Benton Circle Mesa, AZ 85212

$510,000 - 3Br/3Ba -  for Sale in Santa Rita Ranch Parcel 6, Mesa
Open House
$510,000
3 Beds
2.5 Baths
1,880 SqFt
Status Active
MLS # 6691334
Property Type Single Family Residence
Price Type --
Step into luxury living with this exceptional property. The kitchen features all stainless steel appliances, catering to your every need, and a stunning accent backsplash creates eye-catching features. The neutral color paint scheme, enhanced by fresh interior paint, provides a timeless backdrop suited to any aesthetic. In the spacious primary bedroom, a walk-in closet offers ample storage space. Outside, the property shines just as brightly with a tantalizing in-ground pool, perfect for your private use. The fenced-in backyard ensures seclusion, emphasizing the feeling of having your retreat. A covered patio affords the pleasure of being outdoors without the concern of weather changes, and an extra storage shed provides convenience for your outdoor tools and equipment.

5005 W Cheryl Drive Glendale, AZ 85302

$509,999
4 Beds
3 Baths
1,829 SqFt
Status Active
MLS # 6679868
Property Type Single Family Residence
Price Type --
Located in North Central Glendale, Convenient to everything!! Gorgeous Open Plan with bedroom & full bathroom downstairs!! Wonderful Kitchen includes tons of cabinets, LARGE ISLAND, and Walk in Pantry for all the space required to live comfortably!! Plus, a grand primary suite stretching across the top floor offers a welcoming retreat and a convenient second-floor laundry room. Designer finishes include: 42'' White Cabinets with neutral ''picket fence'' shaped backsplash, White Quartz counters & ''Natural'' 6X36 Plank Tile floors!!! Home is move-in ready!

19614 W Wilshire Avenue Goodyear, AZ 85395

$509,995
4 Beds
3 Baths
2,570 SqFt
Status Active
MLS # 6641116
Property Type Single Family Residence
Price Type --
Welcome to this elegant Celeste home, ready May 2024! Included features: a covered entry; pavers in the driveway, walkway and gourmet kitchen offering 42'' upper cabinets, quartz countertops, stainless-steel appliances, a center island; 36'' gas cooktop, oven and microwave in the wall; a generous great room; a charming nook with sliding patio door; a secluded primary suite showcasing a spacious walk-in closet a private bath with double sinks and deluxe owners bath with walk-in shower and separate bath tub; a central laundry with pre-plumbed sink; a covered patio; gas stub at patio; 2-car garage with 8' garage door opener ! This home also has dramatic 10' ceilings, cultured marble bath countertops, ceiling fan prewiring in select rooms, coach lights.

5750 N 10th Street Phoenix, AZ 85014

$509,995
2 Beds
2.5 Baths
1,656 SqFt
Status Active
MLS # 6674011
Property Type Townhouse
Price Type --
Fully remodeled modern beauty! Spinnaker Place is a cozy community with only 16 homes and a community pool located in Uptown Phoenix. This home shines with NEW shaker cabinets, SS appliances, featuring refrigerator and wine fridge, quartz counters, & backsplash. Stunning NEW subway tiled wood burning fireplace,NEW modern railings, NEW flooring throughout. NEW indoor and outdoor lighting & ceiling fans throughout. Owner's suite has an amazing bath with oversized shower and balcony overlooking a private courtyard with maintenance-free artificial grass. Pool is steps away. This is the nicest unit in the entire community. mins from the biltmore with amazing shopping and fine dining, easy access to the 51 freeway and I-17.

32214 N Buckaroo Road San Tan Valley, AZ 85140

$509,990 - 3Br/3Ba -  for Sale in Tobiano At Wales Ranch, San Tan Valley
New
$509,990
3 Beds
2.5 Baths
2,178 SqFt
Status Active
MLS # 6705038
Property Type Single Family Residence
Price Type --
Located in San Tan Valley, this adorable single story, 2178 sqare 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, 8' doors, 4-panel center sliding glass door, a large kitchen adorned with quartz countertops, white cabinets 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.

5519 W Thurman Drive Laveen, AZ 85339

$509,990
3 Beds
2.5 Baths
2,178 SqFt
Status Active
MLS # 6679478
Property Type Single Family Residence
Price Type --
Stunning Farmhouse split floorplan 3-bedroom 2.5 Bath with a den home located in the West Valley's newest community, Estates at Estrella Crossing. With a large walk-in pantry with the super 4 car garage is out of this world! This newly constructed home includes professionally designed features and finishes including quartz countertops, subway tile backsplash, 36'' cabinets that are 2 tone which include contemporary white uppers and complimenting gray cabinet for the kitchen island. Ashton Woods is pleased to include ALL APPLIANCES in this home, making your move-in process seamless. You'll find stainless steel dishwasher, stove, and refrigerator in the kitchen, and matching washer-dryer in the well-appointed laundry room.

5508 W Mcneil Road Laveen, AZ 85339

$509,990
4 Beds
3 Baths
2,219 SqFt
Status Active
MLS # 6682193
Property Type Single Family Residence
Price Type --
Welcome to this stunning newly constructed single-story home offering a perfect blend of modern convenience and classic design. There's plenty of curb appeal with a modern desert elevation and paver driveway, boasting 2,219 square feet of meticulously designed living space. With 4 bedrooms, 3 full baths, a 2.5 car garage, and additional spacious guest retreat space, this layout is ideal. The 12 by 24 plank tile floors are throughout, including the spacious guest retreat for a stylish look and easy maintenance with plush carpet in the bedrooms. The kitchen has a large island that overlooks into the dining and living area making it great for hosting and entertaining. We've added a pendant prewire that sit above the island, so you'll be able to add your own flair to this space.

5510 W Summerside Road Laveen, AZ 85339

$509,990
4 Beds
3 Baths
2,150 SqFt
Status Active
MLS # 6697220
Property Type Single Family Residence
Price Type --
Introducing the Sage plan, a stunning 4-bedroom, 3-bathroom home with a den, spanning 2150 square feet of modern desert living. Boasting a sleek paver driveway and contemporary exterior, this residence offers both style and functionality.Step inside to discover the exquisite wood-look tile flooring that flows seamlessly throughout the open-concept floor plan. The kitchen is a focal point of elegance, featuring a striking contrast of grey cabinets on the island and white cabinets elsewhere, with upper cabinets reaching an impressive 42 inches in height. Adorned with a chic beige/grey backsplash and luxurious white quartz countertops, this space is as beautiful as it is functional. Enhanced with upgraded matte black door hardware and bath finishes, every detail of this home exudes sophistication. Entertaining is a breeze with a 4-panel sliding glass door leading to the backyard oasis. The split floorplan ensures privacy, with two secondary bedrooms located up front, a third tucked beside the den, and the primary suite positioned at the rear. Indulge in the comfort of the primary bath, complete with double vanities, a walk-in shower, and a spacious walk-in closet. Additional features include a 3-car tandem garage, providing ample space for vehicles and storage. Don't miss the opportunity to make the Sage plan your own and experience the epitome of desert luxury.

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