Demographics

Younger customers want personalized engagement, including in their music playlists, experts said at American Banker's recent Digital Banking conference.

While paying off existing loans is their most immediate priority, buying a house is the No. 1 aim within five-to-10 years, a FinLocker survey found.

Mortgage companies are using AI and other tools to reach those who expect nothing less than a super-personalized and interactive experience from their online services.

But a large gap exists in the degree of energy and investment depository institutions put in their customer acquisition efforts versus nonbanks, according to Arizent research.

Just under half of respondents in a recent mortgage study said cost of living increases have impacted their ability to make a home loan payment in the past six months.

Terry Dolan will see his role expand when two senior executives retire this summer, and will then hand over CFO duties to John Stern in September.

But these expenditures are still expected to increase by over 10% compared to 2021, which is more than double the 5% historical average, the Joint Center for Housing Studies of Harvard University said.

Hafize Gaye Erkan, whose surprise departure from First Republic Bank disrupted the lender’s succession plans earlier this year, will become chief executive officer of Greystone as the closely held commercial-property lender expands into wealth management and private banking.

But the share of homes purchased by those under age 30 has fallen steadily after peaking in 2020 as prices accelerated.

This group is decidedly less ambivalent about the housing market — and saving and investing — than their millennial brothers and sisters.

As Gen Z and millennials become homebuyers, companies are adding and upgrading their apps in the hopes of gaining a greater market share.

Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.

Though their rate of ownership lags behind preceding generations, millennial interest in purchasing property grew the most of any demographic last year, according to First American.

A Realtor.com survey of consumers aged 18 to 25 found that 45% share are already saving for a home.

The financial services company will use its new capital to invest in artificial intelligence and machine learning to cut transaction times, as well as build its own servicing platform.

Announced the day before the first federally recognized Juneteenth holiday, the Black Homeownership Collaborative has a seven-point initiative to improve upon racial equality in home buying in the next nine years.

Many put aside their own financial planning during the boom year of 2020 and some, as independent contractors, have no retirement savings at all. Here’s why they shouldn’t rely on selling their own companies or client lists to support themselves after they exit the workforce.

Housing experts and advocates disagree on the biggest factor in advancing the Black homeownership rate — and that's part of the problem.

Housing value growth in April hit a 15-year high as the inventory squeeze created gridlock between baby boomer sellers and millennial buyers, according to CoreLogic.

In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.