Savvy Millennials Jump on Low Interest Rates

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.

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.

Housing Report Roundup

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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.