Worried About Future Mortgage Rate Increases? Here’s How to ‘Stress Test’ Your Finances

Worried About Future Mortgage Rate Increases? Here's How to 'Stress Test' Your Finances When it comes to real estate, there are always going to be upswings in the market that will have an impact on your mortgage payment and overall financial health. However, with a fluctuating market here to stay, you may be wondering how you can guard your biggest investment and your finances against rate increases. If you’re concerned about rates on the rise, here are a few tips to test out you’re fiscal well-being.

Calculate Your Debt-To-Income Ratio

It’s beneficial to determine your DTI ratio prior to purchasing a home, but since debt and housing costs are always fluctuating, calculating this number again can be a wakeup call. By adding up your monthly expenditures (including any debt), and dividing that number by your pre-tax income, you’ll be able to determine your DTI percentage. While it’s ideal to have a percentage of less than 28%, if your expenditures have risen above this number, it may be time to take a look at your monthly budget and see what you can cut out.

Do You Have Emergency Savings?

Many people make a habit of putting money into their retirement funds each paycheck, but it’s equally important to have emergency savings you can access in the event of car repairs, home maintenance issues or an unforeseen medical problem. While it’s often suggested that a person should have a minimum of 3 months of expenses at their disposal, saving more than this can make you even more prepared in the event that a rate increase requires you to dive into other funds.

Review Your Budget

It’s easy enough to have a monthly budget, but the hard part for most people is sticking to it on a day-to-day basis. If you’ve veered off the trail a little bit in this regard, sit down to review your expenditures and determine what your financial outlook would be if you experienced an interest rate bump next month. In the event that there’s very little cushion and no money for savings, it may be worth your time to craft a new budget that gives you a bit more wiggle room.

Many people are uncertain about what the short-term economy will bring for their mortgage rates, but by reviewing your budget and maintaining emergency savings, you can be better prepared for the future. If you’re currently considering purchasing a home, give me a call for more information – J.P. Cook – 602-320-4253.

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27390 N 111th Street Scottsdale, AZ 85262

$4,550,000
4 Beds
3.5 Baths
4,400 SqFt
Status Active
MLS # 6744434
Property Type Single Family Residence
Price Type --
Introducing an exquisite desert contemporary masterpiece by Worth Development and J.Cor Architecture. Set on an expansive 4.22-acre parcel, this custom estate is a sanctuary of privacy and seclusion, offering breathtaking, unobstructed vistas of Pinnacle Peak, Troon Mountain, and Tom's Thumb/McDowell's. Enjoy the rare privilege of no HOA restrictions, and relish in the proximity to the world-class Four Seasons Resort Scottsdale. We invite you to inquire about this remarkable estate, where elegance and tranquility harmoniously converge.

6154 E Alta Hacienda Drive Scottsdale, AZ 85251

$4,550,000
4 Beds
4.5 Baths
3,581 SqFt
Status Active
MLS # 6784408
Property Type Single Family Residence
Price Type --
A rare chance to own a stunning property in the premier luxury community at The Phoenician Resort, located on one of the best lots within the community. Nestled within a gated community, this exceptional residence offers a lock-and-leave lifestyle that provides both security and convenience for the discerning buyer. The home boasts unobstructed, panoramic views of the iconic Camelback Mountain, with breathtaking extended vistas of the McDowell Mountains, and it backs to the 18th hole of the renowned Phoenician Golf Course, offering a serene and picturesque backdrop. It features an elevator for easy access, a spacious and elegant floor plan perfect for both everyday living and entertaining, and top-of-the-line finishes and appliances throughout. Additionally, the property includes a... detached guest house, offering privacy and comfort for visiting family or guests. For those seeking a fully turn-key opportunity, this home is available for a separate bill of sale with the designer-purchased furniture, ensuring a seamless move-in experience. Located just minutes from Scottsdale's renowned high-end dining and shopping, this exclusive address offers unparalleled access to Scottsdale's finest shops. This property seamlessly integrates the perfect balance of luxury, comfort, and convenience. This is truly a once-in-a-lifetime opportunity to own a property, in a location that combines breathtaking beauty, golf course and lake views, and luxury living.

5040 N Ascent Drive Scottsdale, AZ 85251

$4,548,601 - 3Br/4Ba -  for Sale in Phoenician, Scottsdale
Open House
$4,548,601
3 Beds
3.5 Baths
4,312 SqFt
Status Active
MLS # 6702208
Property Type Single Family Residence
Price Type --
A NEW PRIVATE RESIDENTIAL COMMUNITY WITH A COVETED LOCATION AT THE BASE OF CAMELBACK MOUNTAIN ADJACENT TO THE ICONIC PHOENICIAN® RESORT IN SCOTTSDALE. ONLY A SHORT DISTANCE TO FASHION SQUARE AND OLD TOWN SCOTTSDALE. THIS COLLECTION OF CUSTOM HOMES TO BE BUILT EXCLUSIVELY BY CULLUM HOMES OFFERS ONE, TWO AND THREE-LEVEL RESIDENCES THAT REFLECT A TIMELESS, MODERN DESIGN AND LOOK OUT OVER THE BEAUTIFUL PHOENICIAN® GOLF COURSE. ALL PLANS ARE FULLY CUSTOMIZABLE. INTRODUCING THE CIRRUS B FLOOR PLAN, A THREE-LEVEL HOME FEATURING 3 BEDROOMS, 3.5 BATHROOMS, A PRIVATE OFFICE AND A 3-CAR GARAGE. THROUGH THE EXTRAVAGANT FRONT ENTRANCE LOCATED ON THE LOWER LEVEL, A BEAUTIFUL STAIRCASE OR AN ELEVATOR TAKE YOU TO EVERY LEVEL OF THE RESIDENCE. THE MAIN LEVEL BOASTS TWO EN SUITE BEDROOMS, PRIVATE OFFICE, FORMAL DINING AREA, BUTLER'S PANTRY, OPEN CONCEPT KITCHEN, ADDITIONAL POWDER ROOM AND THE GREAT ROOM AREA. SPACIOUS KITCHEN WITH ISLAND, EAT-AT BAR AND WALK-IN PANTRY. A GLASS WALL LEADS YOU TO THE COVERED PATIO OFF THE GREAT ROOM WHERE GORGEOUS VIEWS AWAIT YOU. OWNER'S SUITE WITH WALK-IN CLOSET, DOUBLE SINK VANITY, SEPARATE TOILET ROOM, TUB AND WALK-IN SHOWER SIT ON THE TOP LEVEL. ALONG WITH A LARGE LAUNDRY ROOM WITH EXTRA STORAGE, PRIVATE OFFICE SPACE AND TWO DECKS. THE COMMUNITY IS GUARD GATED FOR PRIVACY AND SECURITY. AT THE BASE OF CAMELBACK MOUNTAIN, YOUR PRIVATE POOL, FITNESS CENTER, AND SOCIAL SPACES OFFER AN INTIMATE GATHERING PLACE FOR WELLNESS, SOCIALIZING AND RELAXATION. RESIDENTS ARE OFFERED THE OPTION TO JOIN THE PHOENICIAN® AMENITY ACCESS PROGRAM - ACCESS AND DISCOUNTS TO THE NEW ATHLETIC CLUB, 38,000 SQUARE FOOT SPA, TENNIS FACILITY AND RESORT POOLS AT THE PHOENICIAN® RESORT.

24444 N 128th Street Scottsdale, AZ 85262

$4,500,000
4 Beds
4.5 Baths
5,806 SqFt
Status Active
MLS # 6645982
Property Type Single Family Residence
Price Type --
One of three extraordinary & sophisticated contemporary styled Farmhouse homes designed by Encore Design Group on a massive three acre lot with NO HOA! This incredible home combines bright, contemporary design with timeless indoor-outdoor appeal, all in a highly-desirable location a stones throw from Tom's Thumb trailhead. This 5,806 SQFT custom home has a massive open great room floor plan with 4 bedrooms, 4.5 bathrooms, a separate game room or movie room, & an incredible four car garage. All selections & finishes can still be chosen.

4704 N 40th Place Phoenix, AZ 85018

$4,500,000
5 Beds
5.5 Baths
5,007 SqFt
Status Active
MLS # 6777137
Property Type Single Family Residence
Price Type --
Your dream home in the desirable Arcadia area of Phoenix is coming Spring 2025! Take advantage of pre-completion pricing! This stunning residence will offer unparalleled luxury & comfort across its expansive layout. This home is designed for the ultimate in spacious living. Upon entering, you are led seamlessly into the grand living spaces filled with natural light & high ceiling. The gourmet kitchen is a chef's delight, featuring Wolf/Subzero appliances, custom cabinetry, a nicely appointed back kitchen, a large island perfect for both cooking & entertaining while overlooking the backyard oasis. Adjacent is the formal dining room, ideal for hosting dinner parties & gatherings. The primary suite is a true retreat, complete w/a soaking tub, dual vanities, & a large walk-in shower for 2. Each additional bedroom includes its own ensuite. The outdoor area is an oasis unto itself, with a sparkling pool & soothing spa where you can relax & unwind. The expansive patio & landscaped grounds provide ample space for outdoor dining, lounging, & enjoying the Arizona sunshine year round. Additional features of this exceptional home include: High ceilings & an abundant of natural light throughout. A spacious family room perfect for casual gatherings. State of the art technology & smart home capabilities. Three car garage with ample storage space. Located in the Arcadia area, this home is in Hopi Elementary boundaries and a 3 minute drive to Phoenix Country Day School. offers easy access to upscale shopping, dining, & entertainment. Enjoy the nearby hiking trails of Camelback Mountain or some of the finest golf courses.

6702 E Cholla Street Scottsdale, AZ 85254

$4,500,000
5 Beds
5.5 Baths
5,320 SqFt
Status Active
MLS # 6764687
Property Type Single Family Residence
Price Type --
This stunning new build due to be completed May/June 2025, by Mistry Homes, is a timeless modern masterpiece. A sophisticated and sleek, 4266sf single story home with 1054 detached guest house has been designed with high-end finishes throughout, and is constructed with the highest standard of quality. Nestled among a well-established neighborhood, in a highly desirable location, this home is a stand out. Boasting a fresh architectural design with bold accents that create a striking silhouette against the desert landscape and mountain views. The soaring ceilings enhance the home and highlight the thoughtfully designed, dramatic living spaces. And a neutral, monochromatic pallet, is perfect for personal creation and customization. The primary house enjoys a flexible floor plan, w/ 4 generous ensuite bedrooms and an executive office with state of the art features. In addition, the detached 1,054sf guest house offers one bedroom, bath, kitchen and living area that is perfect for in-laws, a live-in nanny or possibly an office or place for your specific interest like art, yoga, or fitness. This home is in process with all selections already made. Builder estimates completion in May/June 2025.

8000 E Mariposa Grande Drive Scottsdale, AZ 85255

$4,500,000
5 Beds
8 Baths
7,005 SqFt
Status Active
MLS # 6773466
Property Type Single Family Residence
Price Type --
Welcome to this exquisite Arizona estate, set on an expansive 2 plus acre lot with unmatched luxury and privacy. Enter through a private gate and arrive at the motor court, where you can choose from one of 14 garage spaces. Inside, you'll be greeted by rare 30-inch Beaumaniere French limestone floors and three elegant interior fireplaces as well as one wood burning exterior fireplace. The second level features hand-scraped, pegged oak plank floors, adding warmth and character. The gourmet kitchen boasts cherry, alder, and black poplar cabinetry, highlighted by stunning book-matched Italian Verde Bologna granite countertops. Top-tier appliances include Sub-Zero, Wolf, and Asko, complemented by Franke professional sinks. The main home is over 6000sf of opulent space. The kitchen and great room are adorned with stately hacienda beams, while 8-foot knotty alder solid wood doors enhance the the home's craftsmanship throughout. For outdoor living, enjoy two distinctive outdoor showers, brick patios, and a fully tiled, heated pool and spa. The massive 4648 sf detached garage offers A/C, a full bath, laundry facilities, and even a gun range. A spacious casita with over 1000sf, mature desert trees, and lush landscaping complete the property's appeal all with no HOA restrictions. This estate truly represents the finest in Arizona living.

40160 N 105th Place Scottsdale, AZ 85262

$4,500,000
5 Beds
5.5 Baths
5,334 SqFt
Status Active Under Contract
MLS # 6766192
Property Type Single Family Residence
Price Type --
Very private yet open space feel with fantastic city light, sunset and mountain views. Step inside this outstanding all ONE LEVEL contemporary home and experience Arizona living at its finest. The warmth of the courtyard with linear fireplace sets the stage for the ultimate indoor/outdoor living experience. Once inside, a captivating see-through wine structure and main living areas continue through glass telescoping wall to the outdoors combining the inside and outside into one entertaining experience. The two inviting gathering areas with full size bar are open to the gourmet kitchen featuring Wolf and Sub Zero appliances, a large island and hidden walk-in pantry. The dining / morning room is sure to please with its opening up to the front courtyard. Outdoors features negative edge pool, spa, barbecue, conversation area with fireplace, lounging and dining patios areas to relax and enjoy with family and friends. Conveniently located mid-mountain and within walking distance to the Sonoran Fitness Club. Primary suite includes French oak plank floors, a floor-to-ceiling linear fireplace. The primary bath vanity with plenty of storage, a freestanding tub, extra-large walk-in shower and two expansive designer closets. Three en-suite guest bedrooms with private patios. A separate casita opens to the courtyard and provides ample room for family and guests. Shell of home was built in 2007, 2019 all new interiors, finishes, mechanical and more. Listing includes vacant lot rear of pool preserving views.

7550 N 21st Place Phoenix, AZ 85020

$4,500,000
6 Beds
5.5 Baths
7,975 SqFt
Status Active
MLS # 6715842
Property Type Single Family Residence
Price Type --
Experience the pinnacle of luxury living with this exceptional Mid-Century Modern hillside estate, meticulously crafted by renowned architect Arthur Froehlich. As you step into this architectural marvel, you're greeted by a stunning curved staircase that gracefully floats over a tranquil reflection pool, setting the stage for the extraordinary beauty that awaits. This residence embodies sophistication, boasting expansive windows and soaring ceilings that frame breathtaking skyline views, seamlessly blending the magnificence of nature with contemporary design. Revel in the harmonious fusion of indoor and outdoor living with two sprawling green spaces meticulously integrated into the mountainside, offering a serene oasis for both relaxation and entertainment. Encompassing over 7900 square feet, this estate features 6 bedrooms, 5.5 baths, and an array of amenities that redefine opulent living. Nestled beneath the main residence, the pool house beckons you to unwind by the shimmering pool, rock waterfall, and inviting patio, perfect for hosting gatherings and creating lasting memories. Retreat to the luxurious primary bedroom suite, surrounded by private patios and a deck offering panoramic vistas of the entire valley, ensuring a tranquil escape from the everyday hustle and bustle while enjoying 360-degree breathtaking views. Indulge in ultimate relaxation with three indoor fireplaces, an outdoor fireplace, and one in the pool house, along with an indoor steam room, sauna, and a hand-tiled indoor spa that exudes a resort-like ambiance. Immerse yourself in a botanical wonderland with rare plants and mature trees gracing the property, including majestic King Palms and fragrant Plumeria, creating a serene environment that soothes the soul. Every corner of this estate tells a story of luxury and elegance, with water features scattered throughout the grounds and picturesque walkways inviting exploration of this architectural gem. Discover the legacy of Arthur Froehlich, known for his iconic designs that transcend industries, from world-class horse race tracks to iconic structures in Hollywood, showcasing his unparalleled creativity and vision.

9127 N Vista Verde Court Fountain Hills, AZ 85268

$4,500,000 - 5Br/7Ba -  for Sale in Firerock Parcel 1, Fountain Hills
Open House
$4,500,000
5 Beds
6.5 Baths
7,672 SqFt
Status Active
MLS # 6783916
Property Type Single Family Residence
Price Type --
Experience Unparalleled Mountain views and Luxury living Nestled at an exclusive hilltop location, this 1.66 acre gated estate offers breathtaking desert landscapes, set at an elevation of almost 2000 feet. Enjoy panoramic views of city lights and Arizona's most iconic mountains, including four peaks, Red Mountain, and camelback, from every room of this meticulously crafted 5 bedrooms, 6.5 bath home. Designed for those who cherish natural beauty and modern convenience, this home boasts an open floor plan that fills each space with light. The seamless flow between the gourmet kitchen, expansive living areas and covered outdoor patios makes it an entertainer's dream. Step outside and be transported to a private oasis, complete with a sparkling saltwater pool, a new Sundance Optima spa and built in BBQ area. Thoughtfully landscaped for both beauty and ease, the backyard provides lush and low maintenance greenery and unparalleled views of the golf course and surrounding mountains. Key features · Majestic mountain views from every window · Resort style backyard with saltwater pool, spa and BBQ area. · Spacious and bright open floor plan · Prime location on one of Firerock's most coveted streets · Close to luxury amenities and Arizona's fines outdoor recreation Discover a true Arizona gem where every detail has been crafted to offer elegance, comfort and awe-inspiring scenery.

10721 E La Junta Road Scottsdale, AZ 85255

$4,500,000 - 5Br/6Ba -  for Sale in Artesano At Troon Canyon, Scottsdale
Open House
$4,500,000
5 Beds
5.5 Baths
7,208 SqFt
Status Active
MLS # 6754692
Property Type Single Family Residence
Price Type --
Indulge in the epitome of luxury at Artesano Grande, a sprawling estate meticulously maintained and upgraded with remarkable elegance. A connoisseur's dream awaits in the gourmet kitchen, featuring Viking appliances, a butler's pantry, multiple ovens, and two dishwashers. Seamlessly flowing into the great room, this culinary dream kitchen creates an ideal setting for elegant entertaining, including a stunning temperature-controlled wine room. The Multiple living areas offer versatile spaces for relaxation and rejuvenation, complemented by a dedicated home office, a serene wellness room, and a home gym/yoga studio. Each private bedroom is an oasis of comfort, complete with ensuite bathrooms and ample storage. Step outside to discover an expanded covered patio, perfect for alfresco dining and entertaining. The outdoor kitchen and shade structures create an inviting ambiance, while the new, transformed pool, featuring a spacious Baja shelf and captivating fire and water features, beckons for refreshing relaxation. Immerse yourself in breathtaking city-light and sunset views and the allure of a nearby country club. Enjoy substantial energy savings with a 2014 grandfathered whole-home solar system. Modern conveniences abound with two EV chargers, ensuring effortless charging for electric vehicles. The home is equipped with four HVAC units for optimal climate control, while the central vac system simplifies cleaning and maintenance. Discover the unparalleled lifestyle awaiting you at Artesano Grande.

11988 E Larkspur Drive Scottsdale, AZ 85259

$4,500,000 - 6Br/6Ba -  for Sale in Ancala, Scottsdale
Open House
$4,500,000
6 Beds
6 Baths
8,904 SqFt
Status Active
MLS # 6671869
Property Type Single Family Residence
Price Type --
Step into your exquisite sanctuary nestled within the esteemed gated Ancala Country Club golf community. This exceptional custom home is perched on a sprawling hillside lot, commanding awe-inspiring views of the city lights below. Indulge in the artfully crafted interior, where every detail exudes sophistication and elegance. From the high-end finishes to the opulent amenities, no expense has been spared in creating a space that is as luxurious as it is inviting. With six bedrooms, an office, a theatre, bonus room, and fitness center that can easily be converted to an in-law suite, five full baths, three powder baths, this home is designed to exceed every expectation of comfort, style, and luxury. Retreat to the sumptuous primary suite, a haven of relaxation boasting a spa-like bathroom, spacious his and her walk-in closets, and a private balcony offering a serene escape with breathtaking views. Outside, a resort-style paradise awaits, featuring a glistening pool, a tranquil spa, a cozy firepit and fireplace, gas bbq, perfect for unwinding or entertaining guests against the backdrop of the stunning landscape. Located up the mountain in Ancala Country Club, where you have the option to join the club if you wish, including a social or full golf membership.

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