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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2310 W Kachina Trail Phoenix, AZ 85041

$619,900
3 Beds
2.5 Baths
2,406 SqFt
Status Active
MLS # 6769338
Property Type Single Family Residence
Price Type --
Beautiful Home in the popular Southern Highland gated community with spectacular mountain views. This home is move in ready with all appliances including fridge , washer & dryer and 1 newer AC unit. Featuring 3 Large Bedrooms, 2.5 Bathrooms, an Office or Den and a 3 car split garage. Spacious rear yard with artificial turf, newer pool built in 2018 with custom tile and stone finishes, additional cool decking, spa, fabulous water feature with remote app control. This home has large diagonal set tile in all the living areas, walkways and kitchen with very nice Hunter Douglas window shades throughout. Gourmet Kitchen is nicely done with Upgraded Cabinets, Lots of Granite Countertops, a Walk-in Pantry, Gas Stove, Stainless Steel Appliances, Water filter system + RO drinking water and a Large Island. The Kitchen is open to the Family Room so that you can be part of the entertainment. The Master Bedroom is large and split from the other bedrooms. In addition, there are dual Walk-in Closets, an On-Suite with Dual Sinks, a Separate Shower and Tub, and lots of Counter Space. All the other bedrooms are good sized with large closets. Venture outdoors steps away from South Mountain Park and Preserve and enjoy the great Arizona weather. This home does not have any neighbors across the back providing an open private space to enjoy.

478 N Jackson Street Gilbert, AZ 85233

$619,900
5 Beds
3 Baths
2,732 SqFt
Status Active
MLS # 6774181
Property Type Single Family Residence
Price Type --
Wow !!! What a wonderful chance of buying a great home on the Golf Course with a Gorgeous Swimming Pool. Exterior was Just Painted this year, Great Floor Plan with 4 Bedrooms Up & 1 Down with it's own Bath. Perfect for Guest. Priced to sell. This home will need some updating but the seller has spent over $ 60,000 to repair the house foundation which comes with a Life Time Warranty from Ram Jack of Arizona. Gorgeous Spindle Staircase. North/South Exposure.

8953 E Yucca Street Scottsdale, AZ 85260

$619,900
3 Beds
2.5 Baths
1,611 SqFt
Status Active
MLS # 6780255
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION, LOCATION & STYLE, STYLE, STYLE! This 3 bed 2 1/2 bath home is situated near freeways and amenities while being tucked away from traffic. This designer home will make the perfect place to come relax at after a day's work. Seller has taken care to add the perfect design details while keeping an inviting and warm environment. Downstairs features a number of places to entertain- from the open kitchen to the dinning area/family room to the backyard with greenery and BBQ to enjoy the amazing weather this time of year. In addition to all the design details, the seller has also done the following upgrades: new garage motor (5 months ago), all new irrigation lines & sprinkler timer in 2023, all new kitchen appliances, - new A/C unit in 2023, and custom garage cabinets installed 2023. This turn key ready home will not last long so don't wait, come see it today!

4131 E Cathedral Rock Drive Phoenix, AZ 85044

$619,900
4 Beds
2.5 Baths
2,450 SqFt
Status Active Under Contract
MLS # 6750221
Property Type Single Family Residence
Price Type --
Back on market after full-price cash buyer had to walk! Welcome to your dream home! This stunning 4-bed, 2.5-bath home boasts 2,450 square feet of beautifully updated living space. Situated on an oversized corner lot, the property offers both privacy and ample space for outdoor living. Inside, you'll find tasteful updates throughout, including new flooring, light fixtures and faucets (and interior/exterior paint from 2019). Major updates (roof, both AC units, water softener, extra attic insulation) have also been done in the last 5 years providing peace of mind. Enjoy the community's top-notch amenities with access to pools, parks, and tennis courts plus great schools and shopping nearby. This home is the perfect blend of comfort, style, and convenience you will love!

13418 W Almeria Road Goodyear, AZ 85395

$619,900
3 Beds
2.5 Baths
2,712 SqFt
Status Active
MLS # 6780947
Property Type Single Family Residence
Price Type --
Gorgeous single-level Palm Valley home on just shy of 1/3AC lot. Enjoy the 2712 sf home with a pool and water feature. Both AC units just replaced in 2024, roof replaced in 2020, new variable speed pool pump replaced 2024, and entire interior of home and garage repainted November 2024. Spacious split floorplan that opens up to family and dining room area. Backyard boasts an outdoor kitchen with built in grill and sink, covered patio with custom shades, garden area on the North side of home, dog run on the South side of home, synthetic turf with planters and giant diving pool with water feature. Corner lot so one only has neighbors to the West and North. True pride of ownership. You get to enjoy a gorgeous, well established neighborhood with all the high dollar items already updated.

3019 E Marilyn Road Phoenix, AZ 85032

$619,900
3 Beds
2 Baths
1,832 SqFt
Status Active
MLS # 6733523
Property Type Single Family Residence
Price Type --
Nestled in the highly sought-after neighborhood of Cimarron Ridge, this wonderful entertainment home offers the perfect blend of comfort and luxury. Enjoy the serene ambiance of a quiet cul-de-sac, complemented by a spacious yard. The property features a stunning Pebble Tec pool and spa, ideal for relaxation and entertaining. Don't miss the opportunity to own this gem in a prime central location!

8014 E Plata -- Mesa, AZ 85212

$619,900
4 Beds
2 Baths
2,532 SqFt
Status Active
MLS # 6732961
Property Type Single Family Residence
Price Type --
Single story home on a corner lot that offers a split floor plan, with large open kitchen which features stunning soft glide cabinets, top of the line stainless appliances with built-in oven and microwave, large island, pendent lighting. The spacious master suite overlooks the backyard with a walk-­in closet that is truly larger than most bedrooms. RV Gate. Solar swimming pool panel owned. Located across the street from the park & walking trails & just minutes from the 60 & 202 fr-ways and San Tan Village.

19700 N 76th Street Unit 2028 Scottsdale, AZ 85255

$619,900
2 Beds
2 Baths
1,843 SqFt
Status Active
MLS # 6759796
Property Type Apartment
Price Type --
Immaculate open & bright South facing condo in the highly desirable gated Village at Grayhawk community. Upgraded features include travertine flooring, plantation shutters & more make this beautiful 2 bedroom+ den, 2 car garage residence stand out from the rest. Warm & inviting kitchen features breakfast bar, granite countertops, maple cabinetry, black stainless LG appliances, gas range & recessed lighting opens to dining/great room. Relax in large great room w/gas fireplace, built-in media & display niches. Spacious master retreat w/room for desk/workout equipment, dual sinks, separate shower & garden tub. Enjoy 3 beautiful heated pools & spas and 2 workout facilities. Convenient access to Loop 101 freeway, hiking and walking trails, world class golf, shopping and dining.

18117 W Tecoma Road Goodyear, AZ 85338

$619,900
2 Beds
2 Baths
1,838 SqFt
Status Active
MLS # 6781120
Property Type Single Family Residence
Price Type --
Energy-efficient SOLAR property in the master-planned community of Estrella! Sweet curb appeal, desert landscaping & Inside, a rotunda foyer leads you toward the semi-open den & great room, providing endless entertainment. Pre-wired surround sound, durable tile flooring, custom paint, & gorgeous light fixtures. The kitchen showcases a center island w/breakfast bar, a pantry, staggered cabinets, mosaic backsplash, SS appliances, & granite counters. Split main retreat features backyard access & an ensuite boasting a separate tub/shower, dual sink, & walk-in closet w/stacked laundry area. Both bedrooms have soft carpets! Entertainer's backyard offers built-in BBQ, fireplace, covered patio, putting green, pool & spa combo, & view fence. Plus, solar panels! This home is the one! MTN Views! - DEN / LAKERS billiards Room Can be easily transitioned to 3rd bdrm.

2734 W Montgomery Drive Chandler, AZ 85224

$619,900
4 Beds
2 Baths
2,009 SqFt
Status Active Under Contract
MLS # 6756991
Property Type Single Family Residence
Price Type --
Come and see this freshly remodeled stunning home in Chandler. This 4 bed 2 bath 2 Car Garage home is move in ready!! Located just off the 101 and Warner you are just minutes away from the Chandler Mall with all the shopping and great restaurants. Home is located in the A rated Chandler School District. As you pull up to this stunning gem you will notice the freshly painted exterior and low maintenance front yard. Though the front door your welcomed by brand new luxury vinyl plank flooring in the main living areas and plush patterned carpet in the bedrooms. The soaring ceilings continue around the corner off the front room and into your brand new stunning kitchen. This fully remodeled kitchen boasts new white shaker cabinets, white quartz countertops, brand new stainless steel appliances and upgraded lighting. Just off the kitchen is the massive pantry / laundry room with custom shelves, mud room bench, white cabinets and butcher block top. Split floor plan has the Master suite off of the front room and it is GORGEOUS. Vaulted ceilings, dual vanity sink, large walk in closet and brand new custom tiled shower. Brand new windows and window coverings throughout the home. New water heater. New ceiling fans, door hardware, light and plumbing fixtures give this home a modern feel. Out back there is plenty of room to entertain with a freshly laid rolled sod yard with paver border, new sprinkler system and a large gazebo with fire pit that conveys. Don't miss out on this gem. Come and see it today!!

18607 W Oregon Avenue Litchfield Park, AZ 85340

$619,900
4 Beds
2.5 Baths
2,691 SqFt
Status Active
MLS # 6762312
Property Type Single Family Residence
Price Type --
****SELLER OFFERING $15,000 SELLER CONCESSION, WITH ACCEPTED OFFER***** This impressive single-level home in Litchfield Park boasts 2,691 square feet of living space on an expansive 11,051 square foot lot. Featuring a split floor plan with four oversized bedrooms, each with large walk-in closets, and 2.5 bathrooms. The home is designed for both comfort and functionality with vaulted ceilings and custom window treatments. The massive primary suite includes a remodeled bathroom with a stand-alone tub and a spacious walk-in closet. The 3-car tandem garage has vaulted ceilings for extra storage, plus added electrical outlets perfect for welders and power tools. An oversized RV gate provides paved RV parking with a power connection, ideal for boats, RVs, and UTVs. The remodeled gourmet kitchen is equipped with granite countertops and a large walk-in pantry. The backyard offers an extended patio, mature landscaping and a large storage shed. With close access to the 303 and I-10 freeways, this meticulously maintained home combines convenience with exceptional features for everyday living. Check this one out today!

14219 W Artemisa Avenue Surprise, AZ 85387

$619,500
4 Beds
2.5 Baths
3,462 SqFt
Status Active
MLS # 6643180
Property Type Single Family Residence
Price Type --
Seller may contribute $5,000 towards the buyer's closing cost. ***WHY-WAIT-TO BUILD*** This two-story home is a stunning property that offers a spacious and well-designed layout. With four bedrooms and 2 1/2 baths, this home provides ample space for a growing family or for those who enjoy having extra room. The Gormet eat-in Kitchen is a true design of a chef's delight, upgraded gas cooking range, beautiful quartz countertops, ample amount of 42-inch upgraded cabinetry and stainless-steel appliances. Plantation shutters throughout the first floor. Downstairs offers a large den/office or can be a playroom. The master bedroom is conveniently located downstairs, offering privacy and convenience. The master bathroom features upgraded cabinetry, separate garden tub, dual sinks, large walk-in shower, adding a touch of luxury to the space. The first floor of this stunning home features wood-like extensive flooring adding a touch of warmth and elegance to the space. Upstairs, you will find an enormous loft area that can be used as a playroom, another office, or entertainment area. Additional bedrooms upstairs plenty of space for family members or guests. This home is north-south, ensuring that you can enjoy the best of both worlds when it comes to natural light and temperature control. Additionally, this home has been barely lived in and resembles a spec home, meaning it is in pristine condition and ready for its new owners to move in and make it their own. You will also have the best of both worlds located remarkably close to all the shopping in north Peoria as well as Surprise, minutes away from the best of both growing areas and schools.

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