According to Marc Stiles of The Puget Sound Business Journal 2016 will be a "the year of the millennial" of sorts in the housing market. Recent predictions show that more millennials will purchase homes in 2016 "because older millennials are starting to settle down, and apartment rents will continue rising, pulling many into homeownership." Further, more than rents will encourage millennials to take the leap into purchasing, "because confidence in the housing market will grow" as it has continually done in recent years. The article also cites other predictions, which are indicators of a strengthened real estate market and include a slight rise in mortgage rates that will remain below 5%, loosening credit requirements, along with an increase in new home sales and prices.