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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1607 W Shangri La Road Phoenix, AZ 85029

$550,000
4 Beds
3 Baths
2,073 SqFt
Status Active
MLS # 6771002
Property Type Single Family Residence
Price Type --
Beautiful 4 bedroom 3 bathroom home with a detached 4 car garage. 2 dwellings attached with 2 separate entrances. Total square footage of both dwellings is 2073. Guest home is 853sqft. Guest home is 1 bedroom with 1 bathroom and its own kitchen. Main home offers large laundry room/storage room, open eat in kitchen. Main living area has vaulted ceilings. Home has both an A/C , Heat and Evaporative system. 4 car detached garage is 30x21 with a front and back garage door and extra concrete in front and rear. Garage slab was poured extra thick for a car lift. Garage does have water, power, sewer, vacuum and cooling system. Property is completely fenced in on large corner lot. No HOA with amazing mountain views and hiking trails. Single family home but zoned for multi family use. Zoned R3.

2233 Par Place Overgaard, AZ 85933

$550,000
3 Beds
3.5 Baths
2,895 SqFt
Status Active
MLS # 6771427
Property Type Single Family Residence
Price Type --
Looking to get out of the heat in the summer? Check this one out! This remodeled cabin in Overgaard, just 2 short hours from Phoenix. This 3 bedroom 3.5 bathroom, 2 Car Garage MULTI-GENERATIONAL property is perfect for full time living, or a weekend getaway. Home has been updated with new vinyl flooring throughout, white kitchen cabinetry, butcher block countertops, new fixtures & lighting throughout. On the main floor you will find an open concept living/dining area, fireplace, primary bedroom/bathroom, laundry room & powder room. Upstairs, is a huge loft/bedroom with a full bathroom. Go out your front door & downstairs, you will find a CASITA with its own separate entrance that features a full bedroom living room, kitchenette & full bathroom.

27036 W Sequoia Drive Buckeye, AZ 85396

$550,000
2 Beds
2 Baths
1,998 SqFt
Status Active
MLS # 6774218
Property Type Single Family Residence
Price Type --
NEWLY REMODELED PRESERVE with OWNED SOLAR and WALLED LOT and FURNISHED! You'll fall in love the moment you walk through the door. This home features new wood-grain tile & carpet throughout, fresh interior paint & baseboards. Enjoy a custom-built media wall, new light fixtures, custom drapery & plantation shutters. The living room has a center slider door that enhances the space. The master bath boasts a floor-to-ceiling tile shower. In the kitchen, you'll find S/S appliances, a new microwave, quartz countertops, backsplash & under-counter lighting. The newly remodeled backyard offers beautiful landscaping and turf, an extended travertine patio with a BBQ & Blackstone. Epoxy, storage, sink & workbench in the garage. THIS HOME IS A GEM!

23266 S 229th Way Queen Creek, AZ 85142

$550,000
5 Beds
3 Baths
2,311 SqFt
Status Active
MLS # 6774566
Property Type Single Family Residence
Price Type --
Step into a world of elegance and sophistication in this stunning, barely-lived-in home built in 2023. With 5 spacious bedrooms and 3 full bathrooms, this is one of the rare gems you won't find around the corner. Picture soaring ceilings that invite natural light to dance through the expansive living spaces, and a gigantic kitchen that opens seamlessly to the great room—ideal for gatherings or cozy family nights. The stunning white stone tiles pair beautifully with rich chestnut cabinets, creating a striking contrast with pristine white Cort countertops. It's a chef's paradise! The master suite feels like a penthouse retreat, offering ample space and luxury that truly elevates your living experience. Each detail is designed to impress, from the breathtaking finishes to the thoughtfully laid-out floor plan. Nestled on a premium cul-de-sac lot in a vibrant community, you'll enjoy endless amenities right at your doorstep. This is not just a home; it's a lifestyle statement. Don't let this one-of-a-kind opportunity slip away,schedule a showing today!

9620 W Ruth Avenue Peoria, AZ 85345

$550,000
3 Beds
2 Baths
2,279 SqFt
Status Active
MLS # 6776552
Property Type Single Family Residence
Price Type --
Don't miss this great oppurtunity for this recently updated 3 bed plus den, 3 car garage home on oversized corner lot w/RV gate. Beautiful landscaped yard with private pool & your very own 3 hole putting course, extended covered patio with sunshades great for entertaining! Newly updated kitchen with all new appliances with induction range, island & walk in pantry, open to the family room plus additional open living/dining areas. Neutral finishes with beautiful new wood like LV plank & tile flooring, updated baths, wood blinds, & vaulted ceilings throughout, and no interior steps. Solar panels for effecient utility costs. Great family neighborhood with playground/park within walking distance to Peoria schools. Convenient to 101, near to all sports venues, shopping areas and restaurants

4521 W Alabama Lane San Tan Valley, AZ 85144

$550,000
4 Beds
2.5 Baths
2,764 SqFt
Status Active
MLS # 6779784
Property Type Single Family Residence
Price Type --
Beautiful 2 story home in San Tan Heights. Inside you'll find 4 bedrooms, a large loft, 2.5 bathrooms w/laundry upstairs w/the bedrooms Neutral paint, flooring & window coverings provide a clean pallet for decoration. The kitchen boasts maple cabinets, granite counters, stone backsplash, stainless steel appliances and often sought after gas stove. It opens to the family which makes it excellent for entertaining. The formal dining / living space can be utilized as that or a game room, sitting room or extra TV space. The resort style backyard has a covered patio, sparkling pool w/play step & water feature. Enjoy cooking or hosting friends at your own outdoor tiki bar. The rest of the yard is low maintenance w/rock & turf. Plenty of storage in the 4 car tandem garage. -3rd bay is tandem

3487 W Red Bird Court Tucson, AZ 85745

$550,000
4 Beds
2 Baths
2,017 SqFt
Status Active Under Contract
MLS # 6714720
Property Type Single Family Residence
Price Type --
Experience unparalleled desert luxury in this exquisite 4-bedroom, 2-bathroom oasis, nestled in the serene foothills of Tucson's coveted Quail Ridge at Starr Pass. Surrounded by the opulent JW Marriott Starr Pass Resort, this home combines Southwestern charm with modern elegance, offering the ultimate desert retreat. The open-concept design boasts a spacious living room with soaring ceilings and a cozy fireplace, perfect for both relaxing and entertaining. The chef's kitchen features granite countertops, a ceiling-height backsplash, GE Café stainless steel appliances, and a top-of-the-line Viking range. The master suite is a sanctuary with a walk-in closet and a lavish ensuite bathroom, complete with dual sinks, a soaking tub, and a separate shower. Enjoy year-round comfort with a whole-house soft water system and reverse osmosis water filtration. The family room, with its stunning Pinon Stone fireplace, adds a touch of warmth and elegance. Step outside to your private backyard paradise, featuring a covered patio, built-in BBQ, and an electric extending patio shade to keep you cool while joying the patio. Revel in breathtaking views of the Tucson Mountains and mesmerizing desert sunsets. Exterior roll-down shutters provide added security and energy efficiency. This home also includes a two-car garage, a dedicated laundry room, and energy-efficient features throughout. Conveniently located near shopping, dining, schools, and recreational areas, with easy access to I-10. Embrace the Tucson lifestyle in this stunning desert haven schedule your viewing today and make this dream home yours!

8604 N 14th Street Phoenix, AZ 85020

$550,000
4 Beds
2 Baths
1,629 SqFt
Status Active Under Contract
MLS # 6722652
Property Type Single Family Residence
Price Type --
Seller's loss is your gain with this recently re-built ranch home located in desirable North Central Phoenix. Home has been extensively re-built due to fire damage. Property was taken down to the studs with new major systems and components including - Electrical (including main panel), Plumbing (all internal), Windows, Doors, Drywall, HVAC, Roof, Flooring, Cabinets, Lighting, Appliances, Interior and exterior paint. All work was performed by a licensed contractor with full City of Phoenix permits and Certificate of Occupancy (4/22/2024).

4449 W Keating Circle Glendale, AZ 85308

$550,000
4 Beds
2 Baths
2,038 SqFt
Status Active Under Contract
MLS # 6744003
Property Type Single Family Residence
Price Type --
Here is your chance to own a GORGEOUS home completely renovated in 2024. Located in Bellair, one of Glendale's most desirable communities, on a large premium Cul-de-sac lot (over 1/4 acre), this beautiful single-level home boasts 4 bedrooms, 2 bathrooms, & over 2000sf of living space. Updated with luxurious finishes - You will not find a more stylish home in a great neighborhood under $600k. Entering through a covered entry highlighted with large wooden double doors, you'll notice the brand new floors across this open floorplan. Your eye is drawn across the great room to the tastefully remodeled kitchen featuring stunning quartz countertops, marble backsplash, new stainless appliances and new cabinets. Roomy master suite has walk in closet and bathroom that exudes modern luxury... The bathroom is equipped with attractive subway tile, quartz counters, modern black hardware and bluetooth-enabled speakers. Down the hall you'll find three spacious guest rooms, with private closets, and sharing an upgraded guest bathroom featuring the same amenities as the master aside from the walk-in shower. The home also offers a cozy living room with wood-burning fireplace, and an open family room tucked in its own corner of the house. The home has a 2-car garage, plus RV gate on the side. A large covered patio with built-in storage overlooks the expansive backyard - graded and ready to be made into your private oasis. Incredible neighborhood with frequent community events - the home is situated within walking distance from the Golf Course and clubhouse, pool, and pickleball. Don't miss the opportunity to make this home your own!

668 N Miller Street Mesa, AZ 85203

$550,000
5 Beds
3 Baths
3,065 SqFt
Status Active Under Contract
MLS # 6700260
Property Type Single Family Residence
Price Type --
Don't let looks deceive you this house is HUGE, 3065 square feet. Priced at the value of a three bedroom but has the space to be used as 4/5 bedroom. Has two seperate living areas which makes for awesome two family residence. IT's a steal at only $550,000 Granite counters in bathrooms and kitchens. tile in all the wet areas and brand new carpet. Turn key ready to move in!

27524 N Montana Drive Rio Verde, AZ 85263

$550,000 - 2Br/2Ba -  for Sale in Tonto Verde Unit Five Corrective Plat, Rio Verde
Open House
$550,000
2 Beds
2 Baths
1,730 SqFt
Status Active
MLS # 6751350
Property Type Townhouse
Price Type --
Beautiful turnkey townhome in the gated community of Tonto Verde. Located in a quiet cul-de-sac, backing to the beautiful driving range and a short walk to the clubhouse and its amenities. Great room style living with fireplace and walls of windows taking in the backyard views and gorgeous sunsets. Split floor plan with 2 large bedrooms and 2 full baths. Primary bedroom with access to the spacious patio and primary bath with dual vanities, tub, walk in shower and walk in closet. Kitchen with center island and cooktop, breakfast counter and dining that is open to the lush landscaping with floor to ceiling windows. New Interior paint 2024, New roof in 2022, New HVAC in 2020, New Hot water heater in 2022 and New Washer/Dryer in 2020. Oversized 2.5 car garage with golf cart access

5089 S Louie Lamour Drive Gold Canyon, AZ 85118

$550,000 - 3Br/2Ba -  for Sale in Gold Canyon East, Gold Canyon
Open House
$550,000
3 Beds
2 Baths
1,670 SqFt
Status Active
MLS # 6777908
Property Type Single Family Residence
Price Type --
WOW! Fabulous, FULLY FURNISHED, Turn-Key 3 Bedroom UPDATED HOME with DEN & HEATED POOL plus DOUBLE MOUNTAIN VIEWS of Superstition & Dinosaur Mountains! ***You'll LOVE the HIGH-END UPDATES throughout including....FULL KITCHEN REMODEL with GORGEOUS GRANITE & Cabinets, Plantation Shutters, Complete Updates of BOTH BATHROOMS with Travertine Showers and Granite & more! *** You'll also appreciate and enjoy the QUIET & PRIVATE BACKYARD OASIS with 11,000 Gallon Pool (2012) plus... HVAC (2017), Exterior Paint (2022), PVC Irrigation (2022), Water Softener (2021), Water Heater (2021), Tile Flooring through-out (ZERO CARPET) & More - Must See! *** GOLD CANYON EAST is ... Gold Canyon East is a popular community of 647 homes located in the foothills of the Superstition Mountains. In addition to panoramic mountain views, residents enjoy walking and hiking paths through-out the community and championship golf courses, dining, spa services and more at the Gold Canyon Golf Resort next door!

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