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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22664 E Happy Road Queen Creek, AZ 85142

$677,433
4 Beds
3.5 Baths
2,965 SqFt
Status Active
MLS # 6735583
Property Type Single Family Residence
Price Type --
This is a brand new Quick Start Home under construction in Queen Creek, with a Ranch Elevation. The Kelly plan includes 4 bedrooms, 3.5 baths, Flex Room, 3 car garage. Gourmet Kitchen appliances that include a gas cooktop with a built-in oven/microwave and dishwasher. Owner's Bathroom includes a separate shower with a freestanding tub. Move-in anticipated for October/November. Included in the Emerald Collection are 10 foot ceilings, 8 foot interior doors and paver driveways and front porches. Please ask about our special financing incentives with Mattamy Home Funding.

1075 E Shangri La Road Phoenix, AZ 85020

$677,000
3 Beds
3 Baths
2,344 SqFt
Status Active
MLS # 6692262
Property Type Single Family Residence
Price Type --
OWNERS HAVE OWNED HOME FOR ALMOST 30 YEARS AND THIS WAS THEIR VACATION HOME, 3-4 MONTHS A YEAR, LIGHTLY LIVED IN, BEAUTIFUL VIEWS AND GORGEOUS EXTERIOR, HOME IS LUSH WITH LANDSCAPING AND HEATED POOL/SPA, THREE BEDROOMS AND DOWNSTAIRS DEN/OFFICE, MASTER SUITE UPSTAIRS WITH LARGE WALK IN CLOSET AND LARGE BALCONY OVERLOOKING THE BEAUTIFUL BACKYARD, SEP SHOWER AND TUB, ONE OTHER BEDROOM UPSTAIRS AND ONE BEDROOM DOWNSTAIRS, VERY HIGH CEILINGS IN ENTRY, FORMAL LIVING AND DINING ROOM, LARGE EAT IN KITCHEN WITH GRANITE AND VIEWS TO THE FAMILY ROOM WHICH HAS A FULL WALL FIREPLACE AND TV ON MANTLE, TWO CAR GARAGE, GEORGEOUS CURB APPEAL,

10618 E Ensenada Street Mesa, AZ 85207

$677,000
3 Beds
2.5 Baths
2,221 SqFt
Status Active
MLS # 6765796
Property Type Single Family Residence
Price Type --
Discover this stunning open single-level home on an oversized lot with breathtaking mountain views! The entertainer's gourmet kitchen features a built-in stainless wall oven, microwave, and cooktop, along with staggered cabinets and granite countertops. Enjoy brand new appliances, fixtures, and handles, spacious bedrooms, a tiled walk-in shower, a new hot water heater, and a whole-home filtration and softener system. The half bath is beautifully remodeled, the interior freshly painted, and tile flooring is installed throughout. The garage offers ample extra storage and an extended paved driveway with a double gate to park your recreational vehicles. The expansive backyard boasts a sparkling heated and cooled pool, with a landscaped yard that's ready for you to enjoy. This is a must-see!

2439 W Rowel Road Phoenix, AZ 85085

$676,500
4 Beds
3.5 Baths
2,511 SqFt
Status Active
MLS # 6785206
Property Type Single Family Residence
Price Type --
NEW HOME - DREAM LOCATION! This home at Aster in Union Park includes 2,511 sq ft of living space, 4 bedrooms, 3.5 bathrooms, and a 2-car large garage. Features the Elite A design upgrades, including 42'' white cabinets, quartz countertops, custom backsplash, large island, 8x40'' tile, stainless-steel CAFE' kitchen appliances, CAFE' Refrigerator & single bowl sink. All bathrooms have quartz countertops with Kohler undermount sinks and the primary bathroom has custom marble style flooring. Quality and Energy efficiency includes tankless hot water heater, Tech Shield roof barrier and blown in wet cellulose insulation. EVO smart home technology included. Union Park, residents can indulge in amenities including a pool, clubhouse, playgrounds, pickleball and basketball courts.

22701 E Saddle Way Queen Creek, AZ 85142

$675,990
5 Beds
3.5 Baths
2,623 SqFt
Status Active
MLS # 6740882
Property Type Single Family Residence
Price Type --
**This is a TO-BE-BUILT LISTING, this home is ready for personalization and can be built on your choice of homesite. This is an advertisement of our base price for this elevation and lot premiums may apply** Welcome to Ashton Woods newest community in Queen Creek - Madera Marquis - which features outstanding community amenities and convenient access to the 24 freeway and shopping. The open concept Diamond plan is highly sought after floorplan with 5 bedrooms and 3.5 baths. Options for structural upgrades include adding a a sixth bedroom, two additional bathrooms, 12'' sliding glass door and so much more. This home includes an open concept kitchen with granite countertops, 42'' upper cabinets, and stainless steel appliances. Amazing spa like primary suite with dual vanities, ample linen storage and separate tub and shower. This floorplan is accompanied by an oversized den and sizable secondary bedrooms with walk in closets. This home comes standard with 9' ceilings, front yard landscaping, paver driveway, and much more! ~There is a minimum option spend requirement on new build homes, please reach out to the sales office for additional details.~

5214 W Rainwater Drive Laveen, AZ 85339

$675,000
3 Beds
3 Baths
2,392 SqFt
Status Active
MLS # 6783816
Property Type Single Family Residence
Price Type --
MLS#6783816 December Completion - Introducing the 55-RV2 floor plan at Tierra Montana—a thoughtfully crafted single-story home with 2,392 square feet of beautifully designed living space. This residence offers 3 spacious bedrooms, 3 bathrooms, a 3-car tandem garage, and a dedicated RV garage complete with convenient RV cleanouts, blending functionality with modern sophistication. The open layout connects the kitchen, gathering room, and dining area, creating a warm and welcoming space perfect for family gatherings, entertaining, and more. The kitchen features elegant 42'' recessed maple cabinets, white quartz countertops, and a GE Café gas range, making it an ideal hub for both casual meals and special occasions. Structural options include: paver front porch, garage service door, 16' x 8' multi sliding glass door, outdoor living extension, RV cleanouts, prewire for HVAC at RV garage, marble shower in lieu of tub and shower in primary, 8' interior doors, soft water loop and gas line for future outdoor use.

171 W Flagstone Place Casa Grande, AZ 85122

$675,000
3 Beds
3 Baths
2,753 SqFt
Status Active
MLS # 6699795
Property Type Single Family Residence
Price Type --
AMAZING SINGLE LEVEL HOME IN DESIRED COYOTE RANCH SUBDIVISION!! WALK INTO A LARGE FORMAL LIVING/DINING ROOM WITH BEAUTIFUL VIEW TO THE RESORT LIKE BACKYARD.SPACIOUS KITCHEN INCLUDES STAINLESS STEEL APPLIANCES,NEW WALL OVEN/MICROWAVE, GRANITE COUNTERTOPS, HUGE ISLAND AND R/O WATER SYSTEM IN KITCHEN. WATER SOFTNER AND CENTRAL VAC. SPACIOUS MASTER SUITE WITH LARGE WALK-IN CLOSET AND DOOR THAT EXITS TO EXTENDED COVERED PATIO. BEAUTIFUL MASTER BATH WITH GLASS BLOCK SNAIL SHOWER, DOUBLE VANITY, SEPARATE TUB AND PRIVATE TOILET. HUGE LOW MAINTENANCE LUCIOUS BACKYARD WITH DESIGNED DESERT LANDSCAPE. EXTENDED COVERED PATIO. NEWLY REPLACED POOL EQUIP & REFINISHED AMAZING POOL WITH ROCK FOUNTAIN IN THE POOL, WATERFALL AND ROCK FORMATION WATER SLIDE.

15236 N 20th Place Phoenix, AZ 85022

$675,000
3 Beds
2 Baths
1,475 SqFt
Status Active
MLS # 6696568
Property Type Single Family Residence
Price Type --
Discover the opportunity of a lifetime - your very own dream vacation rental property is now available for sale! Indulge in the sheer luxury of this fully furnished vacation home, where every detail has been meticulously curated to create an inviting and comfortable ambiance. From the cozy living room to the fully equipped kitchen, this property ensures your guests have all they need for a memorable stay. Luxurious bedrooms and tasteful décor, your guests will find the utmost comfort and relaxation. Rest easy knowing that this vacation rental property has been meticulously maintained.: Pool Heater HVAC and Roof all new in 2022. Turnkey opportunity for the new owner. Not into vacation rentals, this is a perfect family home on a quiet cul-de-sac near Lookout Mountain! No HOA!

1501 Varsity Drive Prescott, AZ 86301

$675,000 - 3Br/3Ba -  for Sale in Falcon Point At Prescott Lakes, Prescott
New
$675,000
3 Beds
2.5 Baths
2,456 SqFt
Status Active
MLS # 6788867
Property Type Single Family Residence
Price Type --
Well appointed Main Level Living with nice views and tons of natural light in the gated community of Astoria. Downstairs there is a spacious living room with a gas fireplace, dining room and kitchen with granite countertop, stainless steel appliances and lots of storage, a guest bedroom, separate bathroom, an office that can be used as a fourth bedroom and a laundry room. Also on the main level are the primary bedroom with a wonderful bath that has a walk in shower, double sinks and a large walk in closet. Extended rear covered patio with tons of pavers, artificial grass and low maintenance landscaping. The 2nd floor features an enormous Game Rm/Family room w/ the 3rd Bedroom & a Full Bath as well as a large deck with nice views.

1416 N St Paul -- Mesa, AZ 85205

$675,000 - 5Br/3Ba -  for Sale in Higley Heights Phase 1 Amd, Mesa
New
$675,000
5 Beds
3 Baths
2,545 SqFt
Status Active
MLS # 6788857
Property Type Single Family Residence
Price Type --
Welcome to this stunning, 5 bedroom, 3 bath residence, perfectly situated in the highly sought-after Higley Heights of Mesa. This exceptional home offers an unparalleled lifestyle with ample space for the entire family to thrive. Enjoy the expansive, open kitchen featuring stainless steel appliances, walk-in pantry and a large island perfect for food prep and casual dining. The large, second master bedroom with its own bathroom and walk-in closet is perfect for extended family or guests. Pristine tile flooring throughout the main living areas and plush carpeting in the bedrooms enhance the beauty and functionality of this home. Large windows adorned with custom built plantation shutters fill the home with natural light creating a warm and inviting atmosphere. The professionally landscaped, spacious backyard oasis, complete with pavers and artificial turf offers endless entertainment possibilities. Relax and enjoy the community parks, pool and convenient access to shopping, dining and many nearby attractions and recreational activities. Don't miss out on this incredible opportunity to make this home your own!

16159 W Granada Road Goodyear, AZ 85395

$675,000
3 Beds
2.5 Baths
2,564 SqFt
Status Active
MLS # 6723929
Property Type Single Family Residence
Price Type --
Gorgeous 3 beds, 2.5 bath with a den/office single level home with all the bells and whistles! Open concept kitchen flows out to the great room for easy entertaining. Elegant granite countertops, large kitchen island, maple cabinets, upgraded drawer/cabinet pulls, stainless steel appliances, and recessed lighting. Upgraded tray ceilings in formal dining room & master bedroom, TWO fireplaces, and private courtyard entrance. Master bathroom offers a separate shower & soaking tub, and dual sinks, and walk in closet. Easy to maintain backyard complete w/ pavered area & walkway. Walking distance to community greenbelts & play area. This home is truly move in ready!

823 W Clay Avenue Flagstaff, AZ 86001

$675,000
6 Beds
2.5 Baths
2,422 SqFt
Status Active
MLS # 6738092
Property Type Single Family Residence
Price Type --
ATTENTION ARTISTS, INVESTORS, & SMALL BUSINESS OWNERS! Looking for the perfect work life balance? This super cool 6 BD 2.5 BR home in Old Town Flagstaff checks all the boxes! Zoned Highway Commercial, this mixed-use property provides a perfect place to call home while doubling as a workspace in the center of the busiest traffic corridor in Flagstaff. The nearby university and high-density residential areas pack in foot traffic to and from NAU. Clay Ave is a well known ''back street'' for motorists looking for a quick route from Butler or Milton to Route 66 and back. Tucked away from the hustle, but still in the heart of it all! The main level opens into a sizeable mud room that gives way to the main living room and guest bathroom. Through the kitchen, you'll find a second living space, flanked with a ¾ bathroom, laundry room and back bedroom with exterior access to what could be a parking lot area. At the center of the building, stairs lead you up to 4 unique bedrooms featuring built ins, a dormer window, and a full, separate bathroom. At the base of the stairs, the final 6th bedroom awaits, each with authentic wood floors serving the historic value of this home. Pine bead board, craftsman style windows, cottage glass doors, shiplap walls, nooks and crannies...this old soul house is as far away from millennial gray as you can get! Don't miss this one of a kind opportunity to own a true piece of art. Research the Downtown Mile Project for more area developments!

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