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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3966 W Antelope Way San Tan Valley, AZ 85144

$619,999
6 Beds
4.5 Baths
3,164 SqFt
Status Active
MLS # 6784816
Property Type Single Family Residence
Price Type --
BETTER THAN NEW with over $20k in upgrades added after closing! Rare opportunity for a modern design home in the sought after Toll Brothers community on the edge of San Tan Valley and Queen Creek! Close to shopping and dining with gorgeous mountain views!

10516 S 48th Glen Laveen, AZ 85339

$619,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6728647
Property Type Single Family Residence
Price Type --
This Deacon home includes an attached insulated RV garage, plus two tandem garage bays! Inside, a well-appointed gourmet kitchen, gas stove, quartz countertops, with a walk-in pantry that is flanked by a great room and a dining room with center-meet doors with covered patio access. You'll also appreciate an elegant primary suite with a private bathroom with deluxe shower #2 and ample walk-in closet space. A mudroom, a convenient laundry, and a flex room will complete the plan.

21783 E Roundup Way Queen Creek, AZ 85142

$619,995
3 Beds
2.5 Baths
2,510 SqFt
Status Active
MLS # 6666441
Property Type Single Family Residence
Price Type --
Welcome to this stunning three-bedroom, 2.5-bathroom home that exudes elegance and functionality! Step inside to discover a teen room, study, and a three-car garage, providing ample space for all your needs. This home offers a desirable north-south exposure and a paver driveway, adding to its curb appeal. The kitchen is a chef's delight with 42-inch regal white kitchen uppers, quartz countertops, an oversize island, and upgraded stainless steel appliances including a professional gas range. The contemporary interior design features a 6 x 35 wood tile throughout, creating a seamless and stylish look. Unwind in the primary bath's tile walk-in shower or enjoy the convenience of a kitchen pantry for storage. The upgraded paint package in agreeable gray adds a touch of sophistication! Located conveniently near Highway 24, this home is also close to dining, entertainment, and shopping options, making it a prime location for a vibrant lifestyle. Don't miss out on the opportunity to own this gorgeous home, experience luxury living at its finest!

4813 W Stargazer Place Laveen, AZ 85339

$619,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6700009
Property Type Single Family Residence
Price Type --
The Deacon plan includes an attached RV garage, plus two tandem garage bays! Inside, a well-appointed Gourmet kitchen with a walk-in pantry is flanked by a great room and a dining room with covered patio access. You'll also appreciate an elegant primary suite with a private bathroom and ample walk-in closet space. A mudroom, a convenient laundry and a flex room.

4836 W Stargazer Place Laveen, AZ 85339

$619,995
3 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6679937
Property Type Single Family Residence
Price Type --
An inviting covered porch welcomes guests to the charming Pomona plan. A spacious great room is at the heart of the open layout, adjacent to a roomy nook and impressive gourmet kitchen with a walk-in pantry, center island, Stainless steel appliances. This home will be built with either a study and Guest suit option complete with separate living room, wet bar and separate laundry. There is also an additional bedroom and full bathroom, The lavish primary suite offers a generous walk-in closet and a private bath with double sinks and oversized walk-in shower. A convenient laundry and covered back patio are also included. This home will also feature a 3-car garage and 10ft ceilings.

10515 S 47th Lane Laveen, AZ 85339

$619,995
4 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6720382
Property Type Single Family Residence
Price Type --
An inviting covered porch welcomes guests to the charming Pomona plan. A spacious great room is at the heart of the open layout, boasting 10' ceilings throughout, adjacent to a roomy nook and an impressive gourmet kitchen with white shaker cabinets, quartz counters, satin nickel fixtures, with a walk-in pantry and center island. This home has stone tile throughout with carpeted bedrooms. The lavish primary suite offers a generous walk-in closet and a private bath with double sinks. A convenient laundry, covered patio, and separate study are also included.

10512 S 48th Glen Laveen, AZ 85339

$619,995
3 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6728638
Property Type Single Family Residence
Price Type --
An inviting covered porch welcomes guests to this charming Pomona home with 10' ceilings throughout. A spacious great room is at the heart of the open layout, adjacent to a roomy nook and an impressive gourmet kitchen, 42'' white shaker cabinets, quartz countertops, gas stove, with a walk-in pantry and center island. This home will be built with a space to use for a study or formal dining room. The lavish primary suite offers a generous walk-in closet, a private bath with deluxe shower #2, and double sinks. A convenient laundry and covered patio are also included.

21726 E Lords Way Queen Creek, AZ 85142

$619,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6702133
Property Type Single Family Residence
Price Type --
Introducing this exquisite home featuring the interior Bermuda Linen collection features timeless 42'' white regal upper cabinetry in the kitchen perfectly complements the sleek blanco maple quartz kitchen countertops & island, making it a chef's dream. The kitchen is adorned with a subway tile backsplash, wood laminate flooring throughout the main living areas, tile in the baths. Enjoy the gourmet kitchen's built-in single oven and microwave, gas cooktop stove, and stove-pipe pyramid stainless steel vented hood. With 10-foot ceilings, this home feels open, airy, and full of natural light. The three bedrooms, 2.5 baths, study & 3-car split garage provides ample space for comfortable living. This move-in ready gem offers a north-south exposure, ideal for enjoying bright and sunny days! With amenities like a tankless water heater for efficiency and a charming paver driveway, this home harmoniously blends convenience and sophistication.

21849 E Saddle Court Queen Creek, AZ 85142

$619,995
3 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 6730780
Property Type Single Family Residence
Price Type --
The single-story Cassandra plan showcases an open layout with a great room with a multi-sliding glass door, a breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

17225 W Calle Lejos -- Surprise, AZ 85387

$619,995
3 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6731947
Property Type Single Family Residence
Price Type --
Experience luxury in The Pomona, located on a prime corner lot with stunning mountain views. This home features a guest suite, a three-car garage, and a gourmet kitchen featuring Quartz countertops -end appliances. Enjoy 10-foot ceilings, a deluxe primary bathroom with a massive super shower, 3 car garage, paver driveway, RV Gate and 15-foot Center meet doors that open to an oversized 8,750 sq ft lot.

21856 E Saddle Court Queen Creek, AZ 85142

$619,995
3 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 6730743
Property Type Single Family Residence
Price Type --
The single-story Cassandra plan showcases an open layout with a great room with a multi-sliding glass door, a breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

791 W Rock Needle Trail Apache Junction, AZ 85120

$619,990
3 Beds
2.5 Baths
2,473 SqFt
Status Active
MLS # 6730540
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This exquisite Parklane model, priced for a quick sale and set for August completion, offers 3 bedrooms, 2.5 baths, and a versatile den. The chef's kitchen with a 36'' gas cooktop, wall oven, and pearl white quartz countertops is perfect for entertaining. Additional features include a 2' garage extension, 3-car tandem garage, and a luxury shower with dual shower heads in the owner's bath.

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