Demographics

Millennials are targeting homeownership within the next few years, but many are buying into certain house-purchasing myths, according to Bank of America.

The state's red-hot housing market may be cooling a bit, according to the head of the New Hampshire Housing Authority.

August's share of conventional mortgages closed by millennials reached a three-year high as lenders added products to meet their lifestyle, Ellie Mae said.

Homebuyers put about 15% toward a down payment on house, spend $40,000 in one-time fees and thousands in closing costs, presenting an opportunity for lenders to leverage education and product offerings to prepare them for a purchase.

Millennials make up the largest constituent group for both homebuyers and sellers, which could put a squeeze on lending and eventually shift the market.

When it comes to attracting millennials, mortgages could be the key to capturing this demographic for the long haul – provided CUs are willing to put in the work.

A new study from Pentagon Federal Credit Union finds a sizable portion of consumers will be shopping for a mortgage within two years, but it also revealed some major misconceptions surrounding the process.

Nearly half of July's millennial homebuyers were single, a sign that they are not waiting for certain milestones like marriage before deciding to become homeowners, according to Ellie Mae.

The Office of the Comptroller of the Currency’s questions for the public to comment on the decades-old law could illuminate a path forward as regulators struggle to agree on an updated policy.

An improved economy, a healthy labor market and the large population of millennials should have accelerated home sales much higher, but all hope for more transactions this year is not yet lost, according to the NAR.