Items Tagged with 'Millenials'

ARTICLES

Renters view down payment as largest barrier to homeownership

70% say they’re struggling to come up with down payment
A new survey from Zillow shows many renters want to own a home but cite down payments as a major barrier to homeownership. As the housing market looks to Millennials to improve on the low homeownership rate, Zillow’s survey shows this faith in the younger generation is not misplaced.
Read More

Millennials lead other generations in rising HELOC trend

HELOCs expected to replace dwindling refis
As interest rates rise, refinances continue to decrease, leaving an open gap in the market for home equity lines of credit to take the place. Interest rates are up from last year, but so are home prices, giving homeowners a new source of equity to tap into. Most surprising, however, was that Millennials hold the leading share of HELOCs.
Read More

Dear lenders, we need more young talent in mortgage finance

How does the industry make mortgages cool?
Lenders and vendors of the tech world filled the expo hall at the Hyatt Regency in downtown Chicago for the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo. But there was one element that was clearly lacking after scanning the room of attendees: young mortgage professionals. How does the industry fix this?
Read More

These 4 charts break down the details behind Millennials living at home

Plus the who, what, where, why, and how
Student debt, housing affordability and income are commonly tossed out as the culprits behind Millennials needing to move back in with their parents. The details, however, are a little more complicated than that. These four charts break down what Millennials living at home looks like (and we're not talking about their bedrooms).
Read More

Millennials would really prefer to live in these 10 cities

List ranges from affordable to expensive
Younger home shoppers are set to become the No. 1 homebuying cohort throughout the coming years, but they’re not opting to buy a home just anywhere. Realtor.com took advantage of its website user data to create a list of the top 10 markets where Millennials are looking for a home. While a chunk of the cities on the list are affordable, it’s not true for all of them.
Read More

What lenders are missing when it comes to mobile technology

Five reasons why lenders need mobile technology
The majority of homebuyers, especially Millennials, do extensive research online and on their mobile devices before making any purchase — especially for something as large as a home. While many lenders are jumping on the trend to incorporate technology into their customer experience, they are often ignoring the reasons why the technology matters. Here are five reasons why mobile technology should be key to every lender’s strategy.
Read More

Key to Millennial homeownership: Education

UWM says mortgage industry should do more to educate first-time homebuyers
A new study from United Wholesale Mortgage shows Millennials want to enter the housing market, but don’t know that they can. UWM explained the market needs to step up its game when it comes to first time homebuyers.
Read More

Gen Xers suddenly start buying homes in droves

Millennials aren’t alone in struggle with student debt
Millennials receive much of the focus from the housing market as they are the next generation expected to enter the market, however the much-needed starter homes are currently owned by another generation – Gen X. And for the first time in several years, Gen Xers are beginning to buy their next home, showing the most home buying activity since 2014.
Read More

10 best and worst markets for first-time homebuyers right now

And a breakdown of key factors blocking homeownership
As the industry gears up for the spring homebuying season, first-time homebuyers are once again stuck trying to gauge exactly how affordable their market is, along with if it’s even one they are able to jump into. This new report from Bankrate shows what markets are ideal for first-time homebuyers. Does yours rank at the top of the list?
Read More