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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7500 E Deer Valley Road Unit 87 Scottsdale, AZ 85255

$650,000
4 Beds
2.5 Baths
2,371 SqFt
Status Active Under Contract
MLS # 6727580
Property Type Single Family Residence
Price Type --
LONG LIVE SUMMERTIME. This is the perfect setting for the moments that last a lifetime. Need space? This move-in ready home in the popular Arizona Silverado subdivision is the answer. This stunning home welcomes with comfortable, smartly-designed spaces. The kitchen has all the upgrades you want: granite counters, stainless steel appliances, breakfast bar and pantry. You'll love the easy-care engineered wood flooring throughout. The large primary suite has lots of natural light, a walk-in closet and the bathroom has a separate walk-in shower. Everyone loves a loft and this one is quite spacious. If you promised yourself the best in life, you can keep that promise. Move-in ready for a summer full of fun, Arizona-style! Nearby you will find a fun neighborhood park with world-class shopping, dining and medical facilities. Every kind of recreation imaginable awaits. Convenient access to the Loop 101 freeway, you're just minutes from Salt River Fields, Talking Stick Resort, Scottsdale Fashion Square Mall and Sky Harbor Airport. It is impossible to be bored when you live in the Valley of the Sun. This area offers scenic beauty, miles of natural parkland, picturesque lakes, and a wide variety of activities, events, and attractions for every interest. Surrounding cities and metropolitan areas offer a unique mix of culture, shopping, sports stadiums, concert arenas, and attractions ranging from the cosmopolitan to the Southwestern.

17966 W Highland Avenue Goodyear, AZ 85395

$650,000
4 Beds
3 Baths
2,343 SqFt
Status Active
MLS # 6726612
Property Type Single Family Residence
Price Type --
Welcome to Alicante at Sedella, a luxurious gated community! This 4 bedroom, plus den is the popular Lark model which is a unique single story home featuring a social living area. One of the bedrooms includes its own bathroom making a perfect ensuite. The kitchen opens into the great room and dining area for entertaining!! The owners chose to upgrade the living room and master bedroom with 16 ft multi sliders. With wall to wall sliders on the rear of the home, you can be sure there is no lack of natural light!! The oversized private backyard features a large salt water pool, an 8ft RV gate and RV parking. YES the HOA does allow you to park your RV or trailer behind it! Come take a look today, the photos don't do it justice!

5674 N 12th Street Phoenix, AZ 85014

$650,000
2 Beds
2 Baths
2,404 SqFt
Status Active
MLS # 6729008
Property Type Townhouse
Price Type --
Completely renovated single-level, open contemporary floor plan, with 2 huge bedrooms & bathrooms in North Central Phoenix. Everything has been updated from electrical, plumbing, HVAC, roof, & beautiful new landscaping. High End upgrades include chef's kitchen with huge island, quartz countertops, custom cabinets, porcelain tile flooring, soundproof windows with blackout shades. Relax in either the front patio with soothing waterfall fountain or private & spacious back patio with glass firepit. Immaculate and meticulously maintained. Prime Central Phoenix location with top rated Madison school districts, close to Biltmore high end shopping and top rated restaurants, hiking & biking trails, within Eruv. No HOA - would make an amazing primary residence and/or long or short term rental!

4323 N 129th Drive Litchfield Park, AZ 85340

$650,000
5 Beds
3.5 Baths
4,623 SqFt
Status Active
MLS # 6732968
Property Type Single Family Residence
Price Type --
This palatial estate in the exclusive Bel Fleur gated community is a must see! Within the 4,623 sq ft of this vast home, you will find 5 bedrooms, 3.5 bathrooms, a luxurious open kitchen, separate formal living and dining spaces, a sizable family room, and a spacious loft. The home features ample natural light, soaring ceilings, 3 fireplaces, new A/C units in 2023, and tasteful touches throughout. The primary suite is located downstairs, with double sinks and separate tub/shower in the bathroom, and an expansive walk-in closet. The 3 car garage has abundant space. The home backs to common area and offers a quiet retreat from the city while still being just a short drive to the Wigwam, golf, restaurants, parks, schools, and everything that Litchfield Park has to offer. Priced to sell now!

14367 W Ventura Street Surprise, AZ 85379

$650,000
3 Beds
2.5 Baths
2,391 SqFt
Status Active Under Contract
MLS # 6743761
Property Type Single Family Residence
Price Type --
**NOW ACCEPTING BACK UP OFFERS** Welcome to this exceptional RV garage home in the gated community of W Ranch. This open floorplan offers 3 bedrooms and 2.5 bathrooms, featuring a versatile flex space den and a split floor plan for ultimate privacy. This home is designed for both comfort and functionality. The chef's kitchen stands out with its stainless-steel gas stove, double ovens, and quartz countertops, complemented by a stylish backsplash and tall cabinets that provide an abundance of storage, including a walk-in pantry and a Reverse osmosis system to keep your water fresh. Enjoy the elegance of luxury vinyl flooring throughout, along with vaulted ceilings that enhance the spacious feel of the home. Step outside to your private oasis, complete with a built-in BBQ and a brick patio featuring a ceiling fan and exterior sunshade for added comfort. The easy-to-maintain yard is enhanced with artificial grass, mature trees, and a cozy fire pit, making relaxation effortless. With electrical hookups ready for a hot tub, this outdoor space is perfect for both entertaining and unwinding. Car enthusiasts and RV owners will appreciate the RV garage, featuring epoxy flooring, an additional 220 line for additional refrigerators, Freezers, or tools, a 50-amp plug for RVs, and an RV dump connected directly to the sewer. The driveway is beautifully paved with bricks, extending behind the RV gate for added convenience. The expansive master suite is a true retreat, boasting a luxurious tiled walk-in shower, dual sinks, and a spacious walk-in closet. Additional features of this exceptional home include owned solar panels and numerous other upgrades like a water softener system and more. This property is a rare find, offering a perfect blend of luxury, and modern amenities conveniently located in the heart of SURPRISE. Don't miss the opportunity to make this your new home!

20857 E Arrowhead Trail Queen Creek, AZ 85142

$650,000
4 Beds
3.5 Baths
2,325 SqFt
Status Active
MLS # 6735444
Property Type Single Family Residence
Price Type --
Welcome home! Right in the heart of Queen Creek, just minutes from Queen Creek Marketplace, Costco and all of the shopping and entertainment that Queen Creek has to offer as well as quick freeway access. This gorgeous 4 bedroom, 3.5 bathroom home has been beautifully upgraded. Outdoor areas includes a large side patio with pavers and the backyard features a heated pool and spa that is perfect for swimming and entertaining all year long. Interior features tile flooring, a gourmet kitchen with quartz countertops and under cabinet lighting! The living room features a custom entertainment center with an electric fireplace as well as automated shades for the rear sliding door. You must see this home to appreciate its beauty!

320 E Joan D Arc Avenue Phoenix, AZ 85022

$650,000
4 Beds
2 Baths
2,229 SqFt
Status Active
MLS # 6734382
Property Type Single Family Residence
Price Type --
Welcome to Moon Valley! This 4-bedroom home is on a huge cul-de-sac lot boasting an RV gate with a large slab for parking your boat, RV, or other toys. The tiled covered patio overlooks the grass lawn and pool. Enjoy the winter evenings by sitting on the patio near the wood-burning fireplace. The kitchen has granite counters and stainless-steel appliances. Relax in the family room in front of the beautiful stone fireplace. In addition to the formal dining room, there is a breakfast room next to the kitchen. The en suite master bedroom has a large walk-in closet and the bedroom has a Jack & Jill bath. This home is conveniently located with easy access to I-17 and the 101.

9821 E Glencove Street Mesa, AZ 85207

$650,000
4 Beds
2 Baths
2,249 SqFt
Status Active
MLS # 6738100
Property Type Single Family Residence
Price Type --
Nestled in gated community, this home has 9+ceilings. Maple 42''cabinets, in 2023 painted inside throughout, added new stove, dishwasher, microwave & Italian stone tile (wide wood plank look). Pavers in back yard extends from covered patio & sidewalk to RV gate. Mesquite trees shade back yard. The owners added an electrical box/outlet to add hot tub in future. Split 4-bedroom floorplan with family & formal living area. Kitchen has granite countertops open into family room. The 2-bathrooms are upgraded & insulated doors in 3car garage. Community Park with playground, volley & basketball courts, walking trails & green belts add space between homes. Enjoy east Mesa close to: The salt river, Usery Park, Hiking, Kayaking, Fishing, 202 north, shops & restaurants. 7 miles from the 60.

3932 E Shaw Butte Drive Phoenix, AZ 85028

$650,000
4 Beds
2 Baths
2,029 SqFt
Status Active
MLS # 6745223
Property Type Single Family Residence
Price Type --
Gorgeous home, great location and plenty of updates! What's not to like??? This beautiful 4 bedroom, 2 bath home offers a renovated pool, owned solar, updated AC, dual pane Low-E windows, granite throughout, a stunning kitchen and more! Centrally located with easy freeway access. Schools, parks, and abundant shopping nearby. Not to be missed!

9022 W Ross Avenue Peoria, AZ 85382

$650,000
5 Beds
2.5 Baths
2,764 SqFt
Status Active
MLS # 6748230
Property Type Single Family Residence
Price Type --
You will LOVE this well taken care of 5 bedroom, 2.5 bath, 3 car garage home. This amazing home has huge kitchen with granite counter tops, kitchen island and large walk-in pantry. The master suite has plenty of room to relax, with master bathroom featuring dual sinks, separate tub and shower. Upstairs features open loft area with large secondary rooms. The resort style backyard is amazing with pool, gazebo including built in BBQ on a huge lot with no neighbors behind. In last two years owners have updated AC units, pool eq, carpet, and so much more. Come check it out and fall in love. Winter grass just put in down. Home warranty included(750.00)buyers can choose company. Empty nesters ready for a new family to love this home. Best 5 bdrm for 235$ sqft in the area!!

1205 N Sunshine Lane Payson, AZ 85541

$650,000
3 Beds
3 Baths
2,548 SqFt
Status Active
MLS # 6750801
Property Type Single Family Residence
Price Type --
Alpine Heights Must See Updated Home situated on a 12000+ sq ft treed lot enhanced with a circular drive way. This 3 bedroom 3 bath home with an extra room perfect for an office offers all new kitchen and bath cabinetry with Quartz countertops. New Luxury Vinyl flooring through out, the blonde and tan color tones are gorgeous. Perfect flooring for many years to come. New baseboards, doors, hardware, lighting, fans and canned lighting, all features that accentuate the abundance of natural light the main level offers with a back drop of trees seen through the windows. Wrap around deck has two entrys into the home with one from the kitchen dining area, easy for outdoor entertaining. The lower level living with office, bath & bedroom connect to the garage with an entry to the back yard. New AC helps keep the upstairs cool in the summer months and a Fireplace for the cooler months. Enjoy the outdoors with the fenced yard for privacy. Don't miss your opportunity to see thsi home Today!

12260 W Lone Tree Trail Peoria, AZ 85383

$650,000
4 Beds
2.5 Baths
2,908 SqFt
Status Active
MLS # 6758362
Property Type Single Family Residence
Price Type --
Welcome to this stunning 4-bedroom, 2.5-bath single-level home nestled in the highly desirable Vistancia community of North Peoria. This spacious 2,908 sq ft home sits on a coveted north/south exposure corner lot, offering a perfect blend of style, comfort, and convenience. Step inside to discover an expansive open floor plan, where a neutral color palette, oversized tile, and luxury plank flooring set the tone for modern living. The central gourmet kitchen is a dream, featuring stainless steel appliances, gleaming granite countertops, a water softener, and a large center island with a breakfast bar. The kitchen flows seamlessly into the casual dining area and great room, creating an ideal space for both daily living and entertaining. Just beyond, enjoy easy access to the backyard pool oasis, complete with a sparkling heated pool, spill-over spa, cozy firepit chatting space, and an extended covered patio, all perfect for relaxing or hosting friends and family. The owner's suite is a true retreat, offering a spacious ensuite bath with dual sinks, custom-tiled walk-in shower, a deep soaking tub, and a generous walk-in closet. Three additional bedrooms, 1.5 baths, and a versatile office with built-ins provide ample space for work, rest, and play. A formal dining room and convenient laundry room round out this fantastic floor plan. Located just a short walk from top-rated Vistancia Elementary, multiple parks, playgrounds, and the Mountain Vista Clubhouse, this home offers unbeatable access to community amenities, including tennis & pickleball courts, indoor basketball court, game room, two resort-style pools, water slides, and a splash pad. Plus, you're just minutes away from the Four Corners area, where you'll find popular restaurants, shopping, and easy access to Loop 303 for commuting. This home truly has it all - submit your offer today!

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