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The Week Ahead: Tracking Millennial Mortgage Applications

millennialThe Ellie Mae [1] Millennial Tracker releasing this week will look at demographic and mortgage loan related data [2]of millennial homebuyers. The tracker is an interactive online tool that mines data from a sampling of around 80 percent of all closed mortgages dating back to 2014 that were initiated on Ellie Mae’s Encompass solution. The tracker highlights millennial loan indicators across the U.S.

While the latest data will focus on mortgage trends for young Americans in June, the most recent findings [3] for May revealed that purchase loans to millennial homebuyers increased steadily despite a rise in interest rates. It found that 89 percent of loans made to millennial borrowers were for new home purchases, up one percentage point from April 2018, and the highest percentage since May 2017.

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

Learn more about mortgage trends and hearings on CFPB:

Scrutinizing Reforms at CFPB [4]

Is Home Affordability at Breaking Point? [5]

What Declining Mortgage Rates Mean for Homebuyers [6]