Demographics

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.

The top executives at Bank of America, Citigroup and Wells Fargo all received less compensation during a year shaped by the pandemic, while several regional bank CEOs got large pay hikes.

There’s a 20 percentage-point gap between Black and white consumers who have the income necessary to qualify for a mortgage on a new median-priced home.

As more borrowers between 21 and 40 leveraged the historically low mortgage rates in January, the average age rose to a report high, according to ICE Mortgage Technology.

If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.

The multifamily lender named Michael Levine as board chairman, succeeding Dominick Ciampa, who held the role for 10 years. The move comes less than a week after longtime CEO Joseph Ficalora abruptly retired and was replaced by Thomas Cangemi.

Challenger banks aimed at Blacks, Hispanics, immigrants and other underserved groups are offering financial education and support for charities in addition to basic banking services.

Two reports reveal how borrowers prefer to engage with lenders, with younger customers preferring an efficient digital experience and most seeking some form of human interaction.

The head of the Federal Housing Administration said Congress should consider whether to continue allowing the loan floor and ceiling to remain tied to changes in the conforming mortgage limit.

More borrowers between 21 and 40 are leveraging the historically low mortgage rates to either buy their first homes or slash their monthly payments, according to Ellie Mae.

The digital bank is on a larger mission to attract younger customers. It's inserting itself into the popular video game in the hope that game players will learn about its products and have fun at the same time.