Mortgage Rates Impact on 2017 Home Values

There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward.

The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage interest rates will move upward in 2017. Increasing interest rates will definitely impact purchasers and may stifle demand.

In a recent study of industry experts, “rising mortgage interest rates, and their impact on mortgage affordability” was named by 56% as the force they think will have the most significant impact on U.S. housing in 2017. If rising rates slow demand for housing, home values will be impacted.

To this point, Pulsenomics, recently surveyed a panel of over 100 economists, investment strategists, and housing market analysts, asking the question “In your opinion, at what level will the 30-year fixed rate mortgage rate significantly slow home value appreciation?” The survey revealed the following:

Bottom Line

Most experts believe that rates would need to hit 5% or above to have an impact on home prices.  Give me a call to discuss – J.P. Cook – 602-320-4253.

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10830 W Grant Street Avondale, AZ 85323

$464,995

3 Beds

2 Baths

1,860 SqFt

Status Active

MLS # 6693990

Property Type Single Family Residence

Price Type --

Discover this stunning Sunstone home, ready for quick move-in! Included features: a private study; a spacious great room overlooking a serene covered patio; a dining nook; a thoughtfully designed kitchen boasting 42'' upper cabinets, quartz countertops, a walk-in pantry, a center island and stainless-steel appliances, including a gas range; a central laundry; and a lavish primary suite showcasing dual walk-in closets and an attached bath. This home also has upgraded stone tile flooring, cultured marble bathroom countertops, ceiling fan prewiring, front yard landscaping and a concrete-paver driveway and walkway.

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7423 W Northview Avenue Glendale, AZ 85303

$464,990

3 Beds

2.5 Baths

2,255 SqFt

Status Active

MLS # 6634845

Property Type Single Family Residence

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Ready for Immediate Move-in! This exquisite 4-bedroom, 2.5-bathroom residence is fully upgraded, featuring 42-inch grey cabinets and quartz countertops. Enjoy the spacious layout, complete with a loft for additional versatility. The home is thoughtfully designed for your convenience. Don't miss this opportunity!! ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long-term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. ***Prices subject to change, photos may be of a model home or virtually staged, actual home will vary.

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7410 W Northview Avenue Glendale, AZ 85303

$464,990

3 Beds

2.5 Baths

1,986 SqFt

Status Active

MLS # 6675709

Property Type Single Family Residence

Price Type --

This home is our amazing Concerto plan featuring 3-bedroom 2.5-bathroom and a 2-car garage on a larger north/south facing homesite within the desirable Alto gated community!!! The kitchen is beautifully upgraded with Valle Nevado granite counters, modern white full overlay cabinets accented with matte black hardware. and GE Stainless-steel appliances. The great room includes a multi-slide door to make indoor/outdoor living a breeze. Upstairs includes a large loft, 2 additional bedrooms, laundry and primary suite with spa-like bath. Ready for an April 2024 move-in! ^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply

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7227 N 74th Avenue Glendale, AZ 85303

$464,990

3 Beds

2.5 Baths

1,986 SqFt

Status Active

MLS # 6676548

Property Type Single Family Residence

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Under Construction New build home with an April 2024 move-in!!!! This amazing home includers 3-bedroom 2.5-bathroom and a 2-car garage home in the desirable Alto gated community!!! This Concerto floor plan is expertly designed with quartz kitchen countertops, modern white full overlay cabinets, contemporary imperfect smooth walls, and stainless kitchen appliances to name a few. Don't miss out on this home!!^^^Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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