The Real Estate Show

Radio Show Notes 04/10/24 Wednesday

April 12th, 2024 8:14 PM by Eric Willner

Radio Show Notes 04/10/24 Wednesday:

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From Interest Rates to Property Taxes: Get the Latest Insights for Real Estate Success!

By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.

Welcome to the Real Estate Show – South Florida's #1 Real Estate Radio Show and America's longest running daily radio show about real estate! My name is Eric Willner, known as the Voice of Real Estate and founder of America's longest running daily radio show about real estate and also creator of The Automatic Landlord System for Owning Cash Flowing Real Estate "Profitably and Hassle-Free." Think of this show as a virtual real estate seminar in every episode!

This is the "Wednesday Midweek Mortgage & Market Report" Edition of The Real Estate Show, where we dissect the latest headlines and keep you informed about all things related to buying, selling, and investing in real estate.

Did you know investing just $100 per month with a 7% annual return could grow to over $1 million in 40 years? (Source: Compound Interest Calculator) Starting small and letting your money grow over time can be powerful. Want to do it in less time? Stay tuned – we'll explore some ways to accelerate your real estate wealth-building journey!

Today's show is all about how having a Realtor makes a significant difference in real estate success! We discussed this theme on Monday's show, and it's such a crucial concept that bears repeating. Understanding how a knowledgeable Realtor works is an essential part of any successful real estate plan.

Before we get into today's market report, let me remind you of this week's special FREE Workshops:

  • Tuesday 8pm Path To Home Ownership Introduction – Online by Invitation. Text "Home" to 561-861-2366.
  • Wednesday night 8:30pm Financial Edge University “101 Overview” – Online by Invitation. Text "Edge" to 561-861-2366.

Do finances challenge you? Most people say YES!

That's why I created The Financial Edge – an educational program designed to equip you with the knowledge and tools to make informed financial decisions. We believe in a three-pronged approach:

1. Everyone Should Be a Homeowner: Owning a home offers stability, wealth-building opportunities, and the satisfaction of having a space you can truly call your own. 2. Everyone Should Have a Written Financial Plan: Creating a financial plan helps you achieve your goals and secure your financial future. 3. Everyone Should Consider Owning a Business: Owning a business provides additional income streams and potential tax benefits.

Your Financial Team is Here to Help! We offer resources and guidance to help you achieve your financial goals. Don't miss our free workshops this week! Text "Home" or "Edge" to 561-861-2366 to register.

Let's continue our conversation about why NOW is the perfect time to buy real estate. Let's dive into some recent headlines that highlight the importance of affordable housing and its impact on wealth, independence, and peace of mind.

Understanding these current events and trends can help you get organized and gain a financial edge in the real estate market.

Here are some top trending topics:


On Wednesday, April 10, 2024, the current average interest rate for the benchmark 30-year fixed mortgage is 7.02%, increasing 10 basis points since the same time last week. If you're looking to refinance, today's national average interest rate for a 30-year fixed refinance is 6.97%, increasing 4 basis points since the same time last week. Mortgage rates have jumped around but remain elevated. In 2024, experts were predicting the 30-year mortgage to slowly shift down, eventually landing under 6 percent. Mortgage rates change constantly, however, and many factors could play out between now and year-end to change those projections.

(2) Mortgage refinance demand surges even as rates cross back over 7%. Here’s why


·         The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.01% from 6.91%

·         Applications to refinance a home loan jumped 10% for the week and were 4% higher than the same week one year ago.

·         Applications for a mortgage to purchase a home fell 5% for the week and were 23% lower than the same week one year ago.

Overall mortgage demand has now moved sideways for three straight weeks, but last week saw a split between those looking to buy a home and those hoping to save money with a refinance.

Total mortgage application volume increased just 0.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index, essentially flat.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.01% from 6.91%, with points remaining at 0.59 (including the origination fee) for loans with a 20% down payment.

“Mortgage rates moved higher last week as several Federal Reserve officials reiterated a patient posture on rate cuts. Inflation remains stubbornly above the Fed’s target, and the broader economy continues to show resiliency. Unexpectedly strong employment data released last week further added to the upward pressure on rates,” said Joel Kan, MBA’s vice president and deputy chief economist.

Investors have been waiting for the all important monthly report on consumer prices, an indicator of inflation. It is set to be released Wednesday morning, and depending on the outcome, mortgage rates could make a strong move in either direction.


(3) Buyers of newly built homes can face a property tax surprise. Here’s why


First-time homeowners often face sticker shock on their mortgage payments after the first year of ownership. 

“All counties reassess a property’s taxes — it depends on when,” said Melissa Cohn, regional vice president at William Raveis Mortgage. While some places may differ on frequency, “if it’s new construction, they always reassess.”

It’s not unusual for new homeowners to face financial surprises, but people buying a newly built home may be more likely to encounter sticker shock on a key expense.

Almost 75% of recent homebuyers had regrets about their purchase, according to a 2023 survey from Real Estate Witch. Property taxes were the most common gripe, surprising 33% of new owners.

With new builds, property taxes can change dramatically after purchase because initial rates are often based on estimates. That can be jarring for homeowners who already stretched their budgets to afford a home in the current market.

Remember, having a Realtor is not just about buying or selling a property; it's about having a trusted advisor who can guide you through every step of your real estate journey. So, if you're ready to take the next step towards real estate success, don't hesitate to reach out to us.

And don’t forget to text the word EDGE to 561-861-2366 to receive valuable resources and insights to help you profit and succeed in the real estate world.

As we conclude today’s show, remember that knowledge is power in the world of real estate. Tune in every weekday to our show, a literal seminar in every episode of The Real Estate Show, and join us for our free online workshops. Thank you for listening, and let’s make your real estate dreams a reality!

Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at

Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.

Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. ( You can reach Eric Willner at or 888-595-7779.

Also listen to the rebroadcasts on demand on 

Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. ( You can reach Eric Willner at or 888-595-7779.

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Posted by Eric Willner on April 12th, 2024 8:14 PM


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