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b"Radio Show Notes 6/21/17 Wednesday: The Midweek Report and 2017 Outlook on Interest Rates and Millennial's

The Real Estate Show was live from the Bay Area of California today. In our Midweek Report, we talked about what actually happened compared to some of the housing predictions for 2017 that were made late last year and early in this year. We talked about how for the past several years, rumors about mortgage rates rising, have caused a sense of urgency for a lot of buyers. Even though a lot of those increases never materialized to the extent of the headlines, interest rates are up this year. Further mortgage rates will likely move proportionately, and in anticipation of, what the Fed announces it will do. It will also move with the releases of more clear data about stronger economic growth and, believe it or not, inflation. The bottom line: Buyers bought, and prices have gone up. Rates have gone up, and that, along with supply shortages have tempered the market. Expect that to continue. Also watch for older Millennial's to continue to drive the housing demand.

Learn more about Real Estate Investing and learn HOW by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 8 o'clock (EST) on Florida's Money Talk Radio station WSBR AM740. You can also hear us on the free apps: iHeart Radio and TuneIn. Rebroadcasts are available on Facebook.

Older Millennials will continue to drive housing demand in several ways. For the past several years, millennial's have been the largest group of homebuyers, in the trend is likely to continue throughout 2017, especially as many older millennials grow their incomes and seek homes to put down roots or raise a family. Studies show that millennial's composed 35% of all Buyers, and dad is up from 32% just two years ago, and it is also expected to continue to grow.

What is critical about all that is that as a growing number of millennials enter the real estate market, there behavior and preferences for searching listings and communicating with agents are also shifting the homebuying process. The huge growth of sites such as Zillow.com I s evidence that this is happening, and almost 90% of millennial's do their research online.

Another big factor in millennials home buying patterns is the use of down payments. In the past years Millennial's, and older Gen Xers, tended to buy with down payment help from your parents. That is all changing things to low down payment options which are becoming more readily available in the mortgage market. In fact, in metropolitan areas, we're seeing older millennial's who are high earners use low down payments even to buy homes in the $500,000-$800,000 range. These are just two of the major trends in the marketplace, and what we discussed on today's show. For more details, listen to The Real Estate Show with Eric Willner , Live every weekday morning at 8 o'clock (EST) on Florida's Money Talk Radio station WSBR AM740.

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