Mortgage Interest Rates Went Up Again… Should I Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.

This has caused some purchasers to lament the fact they may no longer be able to get a rate below 4%. However, we must realize that current rates are still at historic lows.

Here is a chart showing the average mortgage interest rate over the last several decades.

Mortgage Interest Rates Went Up Again… Should I Wait to Buy? | Simplifying The Market

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.  If the time is right for you to become a home owner, I’d appreciate the opportunity to assist – J.P. Cook – 602-320-4253.

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5214 E Flower Street Phoenix, AZ 85018

$2,995,000
4 Beds
3.5 Baths
5,582 SqFt
Status Active
MLS # 6773295
Property Type Single Family Residence
Price Type --
Discover your private desert retreat in the heart of Arcadia! This contemporary ranch estate, built in 2018, offers a combined 5,582 SqFt of luxury living between the 4,413 SqFt main house and a spacious 1,169 SqFt guest house. This stunning home features an open floor plan with soaring ceilings and sun-drenched spaces. The gourmet kitchen is a chef's dream, complete with a massive island, double ovens, a 66-inch fridge/freezer, and an oversized pantry for all your storage needs. Perfect for entertaining, the kitchen flows effortlessly into the main living area, creating an inviting space for gatherings. The primary suite is a true sanctuary, offering a spa-like bathroom, a large walk-in closet, and direct access to a private patio where you can soak in the stunning views of Camelback.

10652 E Yearling Drive Scottsdale, AZ 85255

$2,995,000 - 4Br/5Ba -  for Sale in Windy Walk Estates At Troon Village, Scottsdale
Open House
New
$2,995,000
4 Beds
4.5 Baths
5,038 SqFt
Status Active
MLS # 6787825
Property Type Single Family Residence
Price Type --
Nestled within the exclusive gated community of Windy Walk Estates at Troon Village, this exceptional home offers a rare and sought-after location custom-built by Shiloh Homes and designed by Lee Hutchinson. Situated on the 8th tee box of Troon Country Club's private course, this property boasts breathtaking city light, Pinnacle Peak, and double fairway views from the backyard, while the front showcases the majestic Troon Mountain. The positioning of the home has been thoughtfully designed to provide an idyllic setting for both relaxation and entertainment. The outdoor oasis is a true haven, featuring an elevated covered patio with a charming fire pit, a sparkling pool adorned with a rock waterfall, a rejuvenating spa, and flagstone hardscape that adds a touch of sophistication. A Kiva fireplace and a built-in barbecue complement the outdoor space, creating an inviting atmosphere. The low-maintenance desert landscaping enhances the property's allure, ensuring a perfect blend of natural beauty and convenience. Step inside, and you'll discover a home that has undergone a complete transformation. Meticulously remodeled to open up spaces within, the interior boasts tasteful finishes and a modern design. The custom kitchen is a chef's dream, with a large center island, designer touches, and top-of-the-line appliances, including a Subzero fridge with arched wood and iron cladding, and Wolf gas stove. The kitchen seamlessly connects to the family room, where a stone-clad fireplace becomes the centerpiece, offering valley views through dual double doors. The living room features beamed ceilings, another stone-clad fireplace, a built-in wood display unit, and even more view windows! The well-designed floor plan encompasses four ensuite bedrooms and a private office, providing ample space. The primary suite, located on the main level, offers exterior patio access and a luxurious bath retreat with custom cabinetry, dual vanities, a large soaking tub with a picture window, a private steam shower, and an oversized walk-in closet with enough room for an exercise area. The office is adjacent to the primary bedroom and has a built-in desk and shelving. The two other ensuite bedrooms on the main level are split from the primary and office. The upper level hosts the fourth bedroom with a private balcony that captures breathtaking views. Additional features include a formal dining room, a spacious laundry room, and a private powder room for guests. The warm contemporary Southwestern architecture, three-bay garage with attached cabinets and storage room, and impressive cacti accents complete the picture of this stunning residence, making it a truly exceptional place to call home.

5440 N Calico Drive Camp Verde, AZ 86322

$2,990,000
4 Beds
4 Baths
4,059 SqFt
Status Active
MLS # 6671977
Property Type Single Family Residence
Price Type --
Equestrian Modern Custom Farmhouse w/ wrap around porch. Meticulously remodeled 2023-2024 is situated on 16 acres, 2 Wells 300 GPM, 4 Stall Barn, Oil Pipe Fence 100K+, NO HOA, luxurious 4 bed-two being Masters w/ ensuite, conveniently located on main level, 2 oversize bedrooms upper level with dormers, 4 Custom Bathrooms with granite wainscoting on walls, granite showers full walls to ceiling, Custom Vanities, wainscoting on walls in all bathrooms & laundry room, Gourmet Kitchen, Custom Glass throughout the Farm House & wood beam on stairs, custom glass window allows visual going to upper level keeping that grand open feel to the space, Wrap around porch with 20 ft glass sliders & 8 ft glass sliders on the back of the house to allow beautiful view Coconino National Forest. Dog friendly Screens on Sliders on back of home, Outside patio has fire pit fully enclosed yard for your furry friends. 2 New AC/heat units w/warranty, New roof w/warranty, 3 Car Garage, Water Treatment for entire house w/warranty, New lighting, New fixtures throughout, Fire & Smoke Alarms throughout the home. Main level has formal living w/wood burning fireplace & Antique Mantel, Office/Library. Primary Master offers Gas fireplace with Full Feature Wall of Granite with 80 Flat Screen TV, Elegant chandelier lighting, Sitting area, Custom Master Bathroom floor to ceiling marble & marble Wainscoting on walls throughout the master bathroom, Master Closets HERS & HIS in primary master. Makeup Vanity with Elegant chandelier lighting, Double Sink Antique Vanity with Huge Custom Mirror. Grand living space provides ample seating with a great room, dining room, Gourmet Kitchen with Wolf Induction 5 burner cooktop, Commercial size refrigerator/ freezer, farmhouse copper sink, double ovens, hightop bar and breakfast bar, granite counters and abundant storage. Custom Knotty Alder doors throughout Kitchen & House, Laundry/mud room equipped with a front-load washer and dryer, living/dining area has 20 ft. slider & 8 ft slider glass doors creating a seamless Indoor-Outdoor Living Space. Upper level, TV Theater Room, with Walkout DECK provides you with Direct access to the balcony to watch breathtaking sunsets with panoramic mountain views & STARS Wet Bar for snacks with your movies in addition you'll find two additional bedrooms, one with dazzling chandelier lighting, additional bath w/ walk-in shower, loft/media room complete with 2 built-in desk spaces inside the dormers plus a refreshment bar w/wine drink fridge, microwave and cozy WOOD Burning fireplace. New OIL PIPE FENCE $100,000 in fencing - Acres of leveled and planted with wheat to fertilize soil for growing pastures, crops 4 Horse Barn Oil Pipe construction 4 Turnouts for your horses Property - (1) registered well domestic (1) registered irrigation well approx -300GPM 6 Miles from I-17 on paved roads until you get to the Private Entrance to the Equestrian Estate Close to I -17 for easy access for shopping, dining, casino, concerts, fairs, in old town Camp Verde & old town Cottonwood. Close to SEDONA approximately 30 minutes for hiking, dining, entertainment and trail riding AMAZING Access to breathtaking panoramic mountain views of the majestic Red Rocks of Sedona, adjacent Coconino National Forest, views of the Prescott National Forest,Flagstaff's Snow Bowl San Francisco Peaks and Lights of Historical Jerome. Unobstructed Views you are surrounded by National Forest one will ever build in your view. Private & Direct access to the Verde River that stretches 18 miles meandering through town limits, the winding waterway creates a habitat for bald eagles, hawks, blue heron, beavers, and otters... Located in the Napa Valley of Arizona, surrounded by wineries, this property presents the possibility for your own vineyard, become connected with a thriving wine community. Some area attractions include Montezuma Castle is the third National Monument dedicated to preserving Native American culture, Out of Africa WildLife Park, Inflatable Kayak Adventure down the Verde River, Cliff Castle Casino. Western Horseback adventures & Horse Boarding at the Nashwa Farms Equestrian & Event Center Horse boarding stable only minutes from your Custom Equestrian Estate.

10648 E Greythorn Drive Scottsdale, AZ 85262

$2,980,000
4 Beds
6.5 Baths
7,000 SqFt
Status Active
MLS # 6759774
Property Type Single Family Residence
Price Type --
Extraordinary desert estate w/ home theatre situated along the 14th fairway of Troon's prestigious championship golf course in gated Pinnacle Canyon. With dramatic drive-up appeal set against a picturesque Sonoran boulder backdrop, this home boasts breathtaking panoramic mountain & golf course views. Gourmet kitchen equipped w/ premium Viking appliances, granite counters, large center island, custom cabinetry, & walk-in pantry.Occupying the entire top floor, the primary suite offers a luxurious escape w/stunning views from the wrap around balcony, separate His and Her walk-in closets & spa-like bathrooms, a private office & elevator. Impressive family room features a custom gas fireplace, fridge, entertainment center & retractable slider wall that opens to the exterior. Step outside to your private paradise, complete w/heated pool, spa, BBQ & captivating boulder formations. This serene space is perfect for relaxation or hosting gatherings against the backdrop of the desert landscape. 3 additional well appointed en-suite bedrooms provide comfort & space for family or guests. The lower level features a dedicated home theater,exercise area, & steam shower w/convenient half bath. This extraordinary estate is not just a home; it's a lifestyle defined by elegance, comfort, and breathtaking natural beauty. Nestled in one of Arizona's most coveted communities, you'll enjoy unparalleled access to world-class golfing, fine dining, and outdoor adventures.

24038 N 84th Street Scottsdale, AZ 85255

$2,975,000
7 Beds
5 Baths
4,406 SqFt
Status Active Under Contract
MLS # 6767273
Property Type Single Family Residence
Price Type --
Don't miss the chance to make this spacious, North Scottsdale estate yours. The owners of this ranch-style residence spared nothing when transforming the property into a welcoming, tranquil home. The fully renovated main house offers 3000 SF, 4 bedrooms and 3 baths, while the private casitas afford buyers an additional 3 bedrooms, 2 baths, kitchen and living space. There's plenty of space for indoor relaxing, outdoor fun, fitness, guests and more. The 2.2 acre lot includes, detached 4 car garage, two casitas, a pool, an organic garden and basketball court, still with room for more. Privacy gates provide peace of mind for residents, while still enabling the retreat feel. This property offers so much and has an incredibly special feel you won't want to pass up.

37200 N Cave Creek Road Unit 1073 Scottsdale, AZ 85262

$2,975,000
3 Beds
3.5 Baths
3,024 SqFt
Status Active Under Contract
MLS # 6778739
Property Type Single Family Residence
Price Type --
Turnkey Elegance with Exceptional Views! This fully furnished home, including curated artwork, offers a rare, move-in-ready opportunity with outstanding views of the golf course, city lights, Black Mountain, and stunning sunsets. Lightly lived in, this home includes recently added furniture for a fresh, stylish appeal. Featuring 3 spacious bedrooms and 3.5 baths, the open floor plan is designed for comfort and entertainment, seamlessly connecting indoor and outdoor spaces with sliding doors. Enjoy a private pool and spa, tranquil water feature, BBQ area, and fire pit—perfect for year-round relaxation and gatherings. Located conveniently near the sought-after Seven Clubhouse, this property also boasts a tandem 3-car garage.

4477 E Turnberry Court Gilbert, AZ 85298

$2,975,000
4 Beds
5.5 Baths
5,514 SqFt
Status Active Under Contract
MLS # 6781609
Property Type Single Family Residence
Price Type --
Your dream home awaits on this over 1-acre lot located at the end of a cul-de-sac in the desirable gated Estados of Circle G. Truly LUXURY from the inside out. Retreat to your own oasis backyard with lighted tennis court that can easily be converted to pickle ball also basketball court, mini golf course with 3 chipping pads, 2 large sand traps, built in BBQ, TV's, all why overlooking a heated sparkling saltwater pool & spa alongside a gas fire pit area to enjoy a cozy night in. State of the art Sonos & WI fi system interior/exterior. The inside does not disappoint, this over 5500sq' 4BR 6 BA home boasts a large home theater /game room with 110'' black diamond screen, Epson projection screen and Sony surround sound system, pool table, shuffleboard with its own beverage fridge, no need to go out, can enjoy family fun night in the luxury of your own home. The gourmet kitchen features Wolf appliances, gas stove top, 2 ovens, walk-in pantry, a walk-through coffee bar area, just around the corner is a separate wine room with large capacity wine fridge. The Master retreat has a cozy fireplace, large walk-in closet with custom shelves & lots of hanging area, also your own washer/dryer. All bedrooms include their own private en suite bathrooms and walk in closets. Wood shutters & solid wood doors throughout. Beautiful mature trees to offer lots of shade, separate gated dog yard. Enormous 4 car extended garage with air-conditioned workshop and lots of storage cabinets, huge driveway for plenty of guest parking, large rolling RV gate. The attic is equipped with a motorized lift with a large walk-in area to store all your Xmas decor. 3 new A/C systems 2023, new pool pump & salt system 2023, interior of home & exterior block wall has been sealed for scorpions. Fully secured by ADT security system and cameras on all doors, driveway, and yard. All of this and still there's more! Enjoy the country club lifestyle with Seville Golf & Country Club, you can ride your golf cart over to enjoy a day of golf, or family fun with 4 pools, water slides, tennis, pickle ball restaurants & more!! For info on the country club lifestyle please visit Seville Country Club.

10465 N 128th Place Scottsdale, AZ 85259

$2,970,900
3 Beds
3.5 Baths
3,228 SqFt
Status Active Under Contract
MLS # 6779348
Property Type Single Family Residence
Price Type --
Welcome to your dream retreat! This exceptional model home effortlessly blends luxury, style, and comfort, offering everything you need for refined living. Located in a highly desirable Scottsdale neighborhood with breathtaking mountain views, this property showcases exquisite designer finishes and a layout that invites indoor-outdoor living at its finest. The kitchen features custom cabinetry and a striking marble waterfall countertop. Outfitted with top-of-the-line Wolf/Sub-Zero appliances, this kitchen is ideal for entertaining. The expansive open-concept great room, features pocketing doors that seamlessly extend your living space to the outdoors. The pool and spa are complete with a serene waterfall feature surrounded by a lushly landscaped yard for ultimate relaxation.

6521 N 4th Street Phoenix, AZ 85012

$2,970,000 - 4Br/5Ba -  for Sale in Orangewood, Phoenix
New
$2,970,000
4 Beds
4.5 Baths
4,014 SqFt
Status Active
MLS # 6787264
Property Type Single Family Residence
Price Type --
Completed in 2021, this Classic Contemporary Home is better than new. Designed by current owner/architect/interior designer of K&I Homes and built by Starion Custom Residences. Tucked away on a large North-South facing cul-de-sac lot in prime North Central Neighborhood, the uber efficient split/open floor plan features 4 large en suite bedrooms, and a super-sized 4 car garage. Perfect indoor/outdoor living with 36-foot sliding glass doors opening up from the great room to the resort style back yard.

28101 N 109th Way Scottsdale, AZ 85262

$2,950,000
4 Beds
4.5 Baths
3,730 SqFt
Status Active
MLS # 6655267
Property Type Single Family Residence
Price Type --
Serene is brand new gated enclave of 21 cutting edge single level contemporary homes designed by Swayback Architects & Planners and built by Sonora West Development. Each Serene home brings a new definition to the ''Lock and Leave'' lifestyle with open Great Room floor plans perfect for both entertaining and everyday living. There are four different models to choose from with lavish interior finishes created by renown interior designers Est Est. This Model A has a 2 car garage and available only on lots, 2, 4, 6 & 16. (3 car garage only on lots 7, 11, & 18 at additional cost). Base price shown does not include lot premiums but does include 25K pool and a 25k landscape allowance, Subzero & Wolf Appliances & BBQ. Backing to the North side of Pinnacle Peak Mountain in N Scottsdale Serene... is close to shopping, restaurants and over two dozen private and public golf courses. Don't miss your opportunity to take part in the Serene lifestyle.

7486 E Sonoran Trail Scottsdale, AZ 85266

$2,950,000
4 Beds
4.5 Baths
4,740 SqFt
Status Active
MLS # 6714935
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the exclusive, guard-gated community of Whisper Rock in North Scottsdale. This stunning Spanish-style residence offers 4,740 square feet of luxurious living space, featuring four spacious bedrooms, four and a half baths, and a dedicated office. Enjoy the elegance of arched doorways, multiple fireplaces, including a magnificent canterra stone fireplace in the great room, and a 720-bottle wine cellar for the connoisseur. The separate guest house off the front courtyard provides additional privacy and convenience. Outdoors, entertain with ease around your private pool & spa with a water feature, outdoor BBQ, firepit, and a covered dining area. The property, situated on a desirable corner lot, also boasts a meditation courtyard, an inground trampoline, and a lush grassy area surrounded by mature vegetation. As part of the Whisper Rock community, you'll have access to a community pool, tennis courts, pickleball courts, and a state-of-the-art workout facility. This is not just a home; it's a lifestyle.

9501 N 52nd Street Paradise Valley, AZ 85253

$2,950,000
6 Beds
5 Baths
4,389 SqFt
Status Active
MLS # 6766514
Property Type Single Family Residence
Price Type --
Welcome to ''Elegant Oasis in Paradise Valley''—a stunning blend of luxury, comfort, and sophisticated design. This exquisite 6-bedroom, 5-bathroom estate is situated on a highly sought-after corner lot in the heart of Paradise Valley, offering over 4,300 square feet of meticulously designed living space on just over an acre of land. As you step through the grand entrance, you'll be captivated by the home's impressive architecture and the perfect blend of modern elegance and timeless style. The gourmet kitchen serves as the centerpiece of the home, a striking granite waterfall island, sleek cabinetry, high-end stainless steel appliances, and a wet bar—ideal for hosting and entertaining guests. The open-concept layout flows seamlessly into the living room, where a cozy fireplace and beautiful wood-beamed ceilings create a warm, inviting atmosphere. For those who love movie nights, the custom theatre room provides a perfect retreat for family and friends. The spacious primary suite is a true sanctuary, featuring dual walk-in closets, a spa-like bathroom with a luxurious soaking tub, and an oversized walk-in shower. The secondary primary suite is equally impressive, offering its own en suite bathroom and direct access to the backyard. Shutters are featured throughout the entire home, adding privacy and style to every room. Step outside and discover your own private resort. The backyard is an entertainer's dream, complete with a heated pool featuring a waterfall, a relaxing spa, and plenty of patio space for outdoor dining and lounging. The sport court offers endless opportunities for recreation, while the meticulously landscaped grounds provide a serene and tranquil setting for relaxation. The property also features an RV gate for easy storage of recreational vehicles. Recent upgrades make this home truly turnkey. The flooring was completed in 2022, and the ceilings were raised the same year, enhancing the home's open, airy feel. The two AC units and pool pump were replaced in 2024 to ensure ultimate comfort and efficiency. A new tankless hot water heater and a water softener ensure convenience and energy savings. The three-car garage features epoxy flooring and a 220-volt outlet, perfect for charging electric vehicles. This property has been meticulously maintained and thoughtfully designed to maximize comfort and flow, blending indoor and outdoor living seamlessly. Whether you're hosting a large gathering or enjoying a quiet evening at home, this estate offers the ultimate in luxury and style. Located in one of Paradise Valley's most prestigious areas, this home is close to top-rated schools, world-class dining, and upscale shopping. Experience unparalleled luxury in Arizona.

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