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The Week Ahead: Tracking Millennial Homebuyers

millennial homebuyersOn Wednesday, June 6, Ellie Mae will release the latest data on closed loan application trends for millennial homebuyers across the U.S. through its Millennial Tracker for April. The monthly report gives a snapshot of demographics, loan information, and percentage of closed loans for millennial homebuyers through an interactive online tool. It mines data from a sample of approximately 80 percent of all closed mortgages.

According to the data for March, the closing time for loans for millennial homebuyers decreased to its fastest time at 39 days. It found that the average age of millennial homebuyers also increased slightly at 30.1 years from 29.5 years in March 2017. The tracker indicated that in March 2018, males were listed as the primary borrower on 63 percent of closed loans to millennials, while women represented 32 percent, and five percent were unspecified. Married millennials represented 52 percent of all closed loans while 47 percent were for single millennials.

Here’s what else is in store in The Week Ahead:

  • Black Knight Mortgage Monitor, Monday
  • CoreLogic Home Insights Report, Tuesday, 8 a.m. ET
  • MBA Mortgage apps, Wednesday, 7 a.m. ET
  • Jobless Claims, Thursday, 8:30 a.m. ET
  • Fed Balance Sheet, Thursday, 4:30 p.m. ET

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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