Average interest rates on 30-year loans fell to historic lows in December, prompting an increase in refinance share from millennial homeowners, according to the latest ICE Mortgage Technology Millennial Tracker.
Tag: Joe Tyrrell
Millennials Rush to Refinance Amid Record Low Rates
Ellie Mae, Pleasanton, Calif., said refinance activity climbed to 45% of all loans closed by millennial borrowers in November, up three percentage points from October to the highest percentage since May.
Older, Younger Millennials Diverge on Loan Preferences
With interest rates continuing to hover at historic lows—the Mortgage Bankers Association yesterday pegged the 30-year fixed rate at a record-low 2.92 percent—Millennials appear to be diverging on loan preferences, said Ellie Mae, Pleasanton, Calif.
Ellie Mae: Low Rates Sustain Refi Surge
Ellie Mae, Pleasanton, Calif, said interest rates below 3 percent pushed the share of refinances of closed loans to a record 60 percent in October.
Millennials Jump on Low Rates
With interest rates nearing 3% for all loans, many millennials took advantage of the opportunity to refinance their mortgages in September, according to Ellie Mae, Pleasanton, Calif.
MBA Annual20: What 2020 Has Taught Us About Technology
Higher volume, lower interest rates and social distancing are changing customer expectations and mortgage industry technology.
Ellie Mae: Low Interest Rates Spur Millennials to Action
Millennials continue to take advantage of record-low interest rates, according to Ellie Mae, Pleasanton, Calif.
Housing Report Roundup
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Millennial Update: They’re Buying Houses and Going into Debt to Fix Them Up
Reports by Ellie Mae and Bankrate.com show Millennials are pulling out their wallets not only to purchase homes, but to fix them up as well.
Millennial Homeownership ‘Delayed, Not Denied’
Despite the economic effects of the coronavirus pandemic, millennials appear poised to fuel a “Roaring ’20s” of homeownership demand, said First American Financial Corp., Santa Ana, Calif.