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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4565 S Merriman Way Gilbert, AZ 85297

$550,000
4 Beds
2 Baths
1,793 SqFt
Status Active
MLS # 6747135
Property Type Single Family Residence
Price Type --
Welcome to 4565 S Merriman Way, a beautifully maintained 4-bedroom, 2-bathroom home offering an inviting living space. The open-concept kitchen features modern appliances, a spacious island, and ample cabinetry. Relax in the elegant master suite with a walk-in closet and an en-suite bathroom. The highlight of this home is the entertainer's dream backyard, complete with an outdoor BBQ kitchen, gazebo, fridge, and sink. Enjoy community amenities such as playgrounds, walking paths and tennis courts. Conveniently located near shopping, schools and major highways.

30061 N 70th Drive Peoria, AZ 85383

$550,000
4 Beds
3 Baths
1,818 SqFt
Status Active
MLS # 6748482
Property Type Single Family Residence
Price Type --
Your DREAM home is here in Sonoran Mountain Ranch! Backing the mountain preserve, this beauty offers privacy & serene views. Providing 4 beds, 3 baths, 2-car garage, & a low-care landscape. Home exudes refined style, showcasing an open layout paired with a fireplace, designer paint, archways, & wood-look tile flooring in all the right places. The impressive kitchen boasts SS appliances, granite counters, a double-door pantry, two-tone cabinetry, tile backsplash, & a 2-tier island. The den can be an office or play area! Main bedroom has a double-door entry, outdoor access, and an ensuite w/dual sinks & a walk-in closet. If entertaining is on your mind, the backyard awaits you! With a covered patio, artificial turf, & refreshing pool, this space promises year-round enjoyment. Move-in ready!

818 N 87th Street Scottsdale, AZ 85257

$550,000
3 Beds
2 Baths
1,628 SqFt
Status Active
MLS # 6761025
Property Type Single Family Residence
Price Type --
LOCATION LOCATION LOCATION! Welcome to this spacious home, nestled in the heart of South Scottsdale, and ideal for someone looking for a home improvement project. With some modern updates, this home will easily return to its full potential. It has great bones and a fabulous layout with both a family room and a living room, spacious kitchen, and a pool that's serviced weekly behind a new wrought-iron fence and a newer variable speed pump and filter. New'ish SS appliances are staying, along with the W&D. An atrium off the family room is a perfect place for a flower garden or water feature. This is your opportunity to put your own touches and style on an affordable home in a prime location with a LOW HOA near the 101 and 202, and a 7 minute drive to both Old Town Scottsdale and ASU.

2749 E Bellerive Drive Gilbert, AZ 85298

$550,000
4 Beds
2 Baths
1,759 SqFt
Status Active
MLS # 6759037
Property Type Single Family Residence
Price Type --
Discover this METICULOUSLY maintained north/south facing 4-bedroom, 2-bath home. Located on a quiet street in the highly sought-after community of Adora Trails in South Gilbert. Featuring the popular Lily floor plan, this home boasts an UPGRADED kitchen with granite countertops, stainless steel appliances, a gas stove, and a pantry. The spacious dining area and large breakfast bar make mealtimes a delight. This split floor plan showcases wood-look tile in all main living areas and neutral paint throughout, creating a warm and inviting atmosphere. The upgraded 9' ceilings throughout and impressive 12' vaulted ceilings in the family room add to the sense of space and elegance. Enjoy the beautiful Arizona weather from your front porch with a lovely sitting area or retreat to your backyard covered pavered patio equipped with an outdoor TV, perfect for entertaining. The low-maintenance backyard is ideal for those who prefer relaxation over upkeep. Storage is plentiful with upgraded full cabinets in the laundry room, Monkey Bar shelving, and two large suspended ceiling racks in the garage, ensuring you have space for all your belongings. This home is move-in ready with washer, dryer and refrigerator. Have peace of mind knowing that the AC and heating have been under an annual inspection and service contract. All this nestled in the highly sought-after Adora Trails community, residents are treated to an exceptional lifestyle enriched by a variety of amenities. Enjoy beautifully maintained parks, scenic walking trails, and state-of-the-art recreational facilities, perfect for both relaxation and active living. The community clubhouse is a hub of activity, featuring a fully equipped gym, spacious meeting rooms, and a modern kitchen for gatherings. Residents can also take advantage of the inviting pool, which boasts lap lanes, a wading area with a splash pad, and is heated during the winter months for year-round enjoyment. With an on-site elementary school and a calendar full of community events, Adora Trails fosters a vibrant, active lifestyle that brings neighbors together. Discover the perfect blend of convenience, community, and fun in this desirable neighborhood!

3610 E Sumner Place Rimrock, AZ 86335

$550,000
3 Beds
2.5 Baths
2,152 SqFt
Status Active
MLS # 6754467
Property Type Single Family Residence
Price Type --
Gated community 30 minutes south of Sedona, Arizona. Brand New, Never Lived in home with community pool and clubhouse, tennis courts, walking trails, work out facility. Beaver Creek Preserve community features modern luxury with rustic charm, blending in with the natural landscape around. This home is ready for your RV and toys, featuring a 2 car garage plus a 52' in length and 14' width RV Garage, Awesome kitchen, large island, granite countertops, walk-in pantry in your new kitchen, 3 bedrooms plus a den, and a gorgeous primary bathroom. Inside, expansive windows frame panoramic views, while the open-concept layout boasts premium finishes and modern amenities. Outside, a spacious patio invites outdoor living and stunning vistas.

1036 E Sahuaro Drive Phoenix, AZ 85020

$550,000
3 Beds
2 Baths
1,735 SqFt
Status Active
MLS # 6760943
Property Type Single Family Residence
Price Type --
Welcome to the heart of Phoenix. This 3 bedroom 2 bath open floor plan is nestled in the desirable Pointe Tapatio community. Once inside you are greeted with a sunken seating area with a large fireplace. Gaze up to the vaulted ceilings with windows that provide ample natural light. The spotless kitchen has numerous cabinets for storage and a new marble backsplash to complement the granite counter tops. Double doors open to the master bedroom with a California walk in closet and dual sink vanity. Relax in the spectacular backyard with your private pool and covered patio. Multiple recent upgrades: paved front patio, front & back yard timed watering system with all new pipes and drips, new kitchen appliances, backsplash, extra plush carpet and MORE. DON'T MISS OUT ON THIS BEAUTIFUL HOME

1748 W Stanford Avenue Gilbert, AZ 85233

$550,000
3 Beds
2 Baths
1,571 SqFt
Status Active
MLS # 6762230
Property Type Single Family Residence
Price Type --
Wow check out this gorgeous and move in ready 3 bedroom, 2 bath home in the established Gilbert golf community of El Dorado Lakes! This corner lot is almost 10,000 sqft and is in a prime location right on the golf course! So many new improvements done in 2023 including a BRAND NEW ROOF, new interior paint, and new blinds and roller shades throughout. The kitchen has also been recently updated with gorgeous quartz counters, recessed lighting, RO under sink water system as well as a partial remodel to open the kitchen up to the great room. All 3 bedrooms and closets have new LVP vinyl flooring which means no carpet! The large primary suite has a separate exit to the backyard, an attached bathroom w/a new bathroom vanity and a walk in closet. The massive backyard features a covered patio that spans the full length of the home, new landscaping and irrigation, citrus trees and a view fence to enjoy the incredible golf course!

2405 E Alameda Drive Tempe, AZ 85282

$550,000
3 Beds
2 Baths
1,560 SqFt
Status Active
MLS # 6763280
Property Type Single Family Residence
Price Type --
This attractive home offers 3 bedrooms, 2 bathrooms, a 2-car garage, and NO HOA! The seller has made significant updates, including removing a wall to transform the sunken living room into an open floor plan with a fireplace. The kitchen features modern grey cabinets, exquisite granite countertops, a black stone backsplash, black stainless-steel refrigerator and gas stove. The secondary bathroom has been renovated with a new tiled shower and a vanity topped with granite and a glass sink. The house has an expansive covered patio stretching from the side to the back, alongside a sizeable storage shed. The spacious diving pool has been renovated with Pebble Tec and outfitted with a new variable-speed pump, along with additional blocks added to the fence for enhanced privacy. Further upgrades consist of an AC unit that is only three years old, an attic fully insulated with blown-in material for greater energy efficiency, and a garage floor coated with epoxy. The front yard is landscaped with xeriscaping for low maintenance. The pool table is included if the Buyer wishes. Conveniently located near restaurants, shopping, and freeways.

2362 N Kachina Lane Chino Valley, AZ 86323

$550,000
3 Beds
2 Baths
1,687 SqFt
Status Active
MLS # 6764850
Property Type Single Family Residence
Price Type --
Welcome to this charming 3-bedroom, 2-bath home situated on a spacious 1.5-acre lot in beautiful Chino Valley! Imagine unwinding on the large front porch, taking in breathtaking sunsets, or enjoying your morning coffee on the expansive back deck while watching the sunrise over stunning views that stretch as far as the eye can see. The home's prime location offers a scenic view of the Mignus Mountains & tree farm. Inside, you'll find a newly updated kitchen and bathrooms, adding modern comfort and style. The living room is bright and inviting with vaulted ceilings, a cozy fireplace, and abundant natural light. Two of the guest bedrooms feature unique storage lofts, perfect for added space and character. Brand new roof updated in 2023. Just 30 minutes from Prescott and close to Watson Lake, you can easily enjoy kayaking, fishing, and hiking the beautiful granite mountains. With ample room for animals, toys, or simply enjoying the mild four seasons, this property offers a blend of space, comfort, and rural charm. Don't miss out on this exceptional opportunity!

6504 W Behrend Drive Glendale, AZ 85308

$550,000
4 Beds
2 Baths
2,313 SqFt
Status Active
MLS # 6765381
Property Type Single Family Residence
Price Type --
Move in Ready! Spacious 4-bedroom, 2-bath home in desirable Arrowhead Subdivision. Features an open concept kitchen to great room, fresh interior paint, and a prime location in Glendale with easy access to the Loop 101. Ideal for comfortable living!

1100 W 9th Street Tempe, AZ 85281

$550,000
3 Beds
2 Baths
1,588 SqFt
Status Active
MLS # 6766519
Property Type Single Family Residence
Price Type --
You'll love this spacious 3-bedroom, 2-bath home with a rare two-car garage, located in the heart of Tempe! It features modern updates throughout, including a beautifully upgraded kitchen with ceiling-height cabinetry, Quartz countertops, and stainless steel appliances. The primary suite offers a bonus space perfect for a home office or an extra room, plus a large Arizona room ideal for a second living area or game room. The home boasts energy-efficient windows, a brand new 2024 HVAC system, and stylish tile flooring in the main living areas. The large backyard includes a covered patio with elegant tile, a ceiling fan, and a refreshing diving pool to cool off in the Arizona heat. Whether you're looking for a primary residence or an investment property, this home is truly move-in ready! Just minutes from ASU, Whole Foods, Trader Joe's, and downtown Tempe's many amenities. Don't miss out on this one!

640 N Nevada Way Gilbert, AZ 85233

$550,000
3 Beds
2 Baths
1,847 SqFt
Status Active
MLS # 6768547
Property Type Single Family Residence
Price Type --
Cayman Square neighborhood of Gilbert. This home has some appealing features, including owned solar 3 bedrooms and 2 bathrooms Gourmet kitchen with stainless steel appliances white washer and dryer included. Master bedroom with an exit door to the backyard, master bathroom with an expanded shower, oversized second and third bedrooms. Separate formal dining, living room and family room. Whole house anti-scale water system, a fantastic feature for protecting plumbing and appliances from hard water buildup. 3-car garage with cabinets and oversized driveway. Backyard oasis a perfect space for relaxation, featuring an extended covered patio, artificial turf a gated private PebbleTec pool, palm trees giving you that tropical feeling! Convenient location: Close to freeways entertainment, and shopping, adding to the convenience of the property. This home will bring the new owner years of happiness and enjoyment!

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