FICO

With mortgage rates plummeting, the refinance share of closed loans from millennial borrowers rose for the third straight month, to the highest level since Ellie Mae began tracking the data in 2016.

January's plummeting mortgage rates led to a spike in the share of millennials refinancing their home loans, a trend that should carry into February and March, according to Ellie Mae.

A larger percentage of newly originated mortgages to millennials shifted toward purchase loans as interest rates stayed low, according to Ellie Mae.

FICO plans to release a new suite of scores that could reduce defaults on newly originated mortgages by 17%, but home lenders may not use it unless the government-sponsored enterprises do.

With most U.S. households spending more and paying their bills on time, their creditors are feeling more confident than ever.

While the refinancing boom took a step back, millennials purchasing power grows in the low mortgage rate environment, according to Ellie Mae.

Millennials took advantage of the low mortgage rate landscape in October, boosting their refinance share to a survey-record high, according to Ellie Mae.

VantageScore totaled 12.3 billion scores across consumer credit loan categories over a 12-month period between 2018 and 2019 with minimal mortgage volume, leaving potential for a major ramp up.

Millennials took advantage of mortgage rates falling to near three-year lows in August, increasing their refinance share to the highest percentage since December 2015, according to Ellie Mae.

Millennial mortgage debt is on pace to reach levels higher than any other generation, according to Experian.