Mortgage Interest Rates Reverse Course in 2017

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase. Some thought we could see rates hit 5-5.5% by the end of the year.

However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by Freddie Mac). Here is a graph of mortgage rate movement since the beginning of the year:

Projections still call for an increase…

Four major entities (Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors) are still projecting that rates will increase by the fourth quarter of the year.

Bottom Line

No one knows for sure where interest rates will be in six months. However, if you are thinking about buying your first house or trading up to the home of your dreams, you can still get a mortgage at historically low rates RIGHT NOW.  Give me a call to get started.  J.P. Cook – 602-320-4253.

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20066 N Golden Barrel Drive Surprise, AZ 85374

$464,000

2 Beds

2 Baths

1,936 SqFt

Status Active

MLS # 6612237

Property Type Single Family Residence

Price Type --

''Welcome to this meticulously maintained single-owner residence, boasting an expansive layout that exudes an airy ambiance. Featuring two generously sized bedrooms, this home offers an entertainer's delight with its seamless open concept design. The kitchen is adorned with stainless steel appliances, ample countertop space, and abundant cabinet storage, complemented by a formal dining area. Additionally, the generously proportioned office/den presents versatility, potentially serving as a third bedroom. Step outside to the inviting back patio, perfect for unwinding and savoring the serene beauty of Arizona winters. Completing this exceptional property is a spacious two-car garage, providing ample storage and convenience.''

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811 E Gold Dust Way San Tan Valley, AZ 85143

$464,000

4 Beds

3 Baths

2,287 SqFt

Status Active

MLS # 6668067

Property Type Single Family Residence

Price Type --

Prepare to be amazed! This fabulous 4 bed, 3 bath Centex built residence is the one you've been looking for! Stunning curb appeal, easy-care front yard, and a 2.5 car garage w/paver driveway and entry are just the beginning! The interior boasts a cozy living area w/soft carpet in all the right places, high ceilings, modern light fixtures, and designer palette throughout. Hone your cooking skills in this gorgeous kitchen, comprised of ample cabinetry w/granite counters, a pantry, stainless steel appliances, and an quarts island complete w/a breakfast bar. Upstairs you'll find a perfectly-sized loft, where you can enjoy a relaxing Sunday evening! The primary bedroom features a walk-in closet and lavish ensuite w/dual sinks for added comfort. The expansive backyard includes a covered patio and large grassy area; the perfect place for spending quality time w/friends and loved ones! The community comes with 3 pools, tennis courts, and soon it will have pickleball courts and a splash pad!

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4431 W White Horse Boulevard Eloy, AZ 85131

$464,000

2 Beds

2.5 Baths

1,908 SqFt

Status Active

MLS # 6662575

Property Type Single Family Residence

Price Type --

PARTICALLY FURNISHED 2 bedroom, 2.5 bath, den & golf cart garage w/4 ft extension. 908 Sq Ft. & Built in 2018! Kitchen features quartz counters, highly upgraded cabinets w/hardware, SS appliances, Gas range & under cabinet lighting. You will love the Deco security door, large neutral tile flooring (carpet only in bedrooms), plantation shutters, den has a door for privacy, cabinets w/hanging rod in the laundry room. Guest bedroom has its own en-suite bathroom. Both Master & Guest rooms have bay windows, Quartz vanities & tile showers. Step out back to the extended South facing covered patio & enjoy the Arizona weather. Patio furniture, outdoor bench & TV in Den are gifts from the seller. PAID HOME WARRANTY to 12/29/24, will transfer to the buyer. Don't miss out on this one! Welcome home

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18782 E Elizar Drive Gold Canyon, AZ 85118

$463,995

3 Beds

2.5 Baths

2,070 SqFt

Status Active

MLS # 6695224

Property Type Single Family Residence

Price Type --

Entrada del Oro in the Superstition Mountains: A serene desert escape with breathtaking, rugged beauty. Perfect for sunrise and sunset admirers.

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