Millennials

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.

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.

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.

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.

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.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

Millennials continue to lock in the lowest average mortgage rates on record, keeping lenders busy and the housing market churning, according to Ellie Mae.

Whether low rates will continue to outweigh health and employment concerns for millennials and Generation Z remains to be seen.

From an increased interest in outdoor space to a need for a dedicated home office, the pandemic has created new drivers for refinancing, moving and other housing decisions, TD Bank found.

More than half of listings underwent bidding wars in August with some housing markets peaking above 65%, according to Redfin.

Millennials locked in the lowest mortgage rates on record and kept the summer housing market hot, according to Ellie Mae.

Driven by robust purchase demand and tight housing supply, housing price growth reached a two-year high in July, according to CoreLogic.

Despite a housing market that has remained solid during the COVID-19 outbreak, the hesitancy of potential sellers is contributing to one of the most acute shortages of available homes in decades.

About 54% of properties underwent bidding wars in July with some metro areas peaking at 75%, according to Redfin.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.