Millennial Purchase Activity Rises As Interest Rates Reach All-Time Lows

Millennial on the phone.

Ellie Mae's Millennial Tracker found that millennials are securing the lowest average interest rate on a 30-year mortgage since it began tracking the demographic in January 2016.

Navi Persaud
 & 
July 1, 2020

Ellie Mae's Millennial Tracker found that millennials are securing the lowest average interest rate on a 30-year mortgage since it began tracking the demographic in January 2016. With lower rates and the peak homebuying season upon us, Ellie Mae reported a month-over-month increase in purchase share for the demographic.

The average interest rates for millennials dropped from 3.48% in April to 3.42% in May. Purchase share began to rise from 45% to 47%, which was the first month-over-month increase since November 2019, according to the report.

Click here to read more from Ellie Mae's Millennial Tracker.

This article originally appeared in the National Mortgage Professional print magazine.

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

No items found.
Millennial Purchase Activity Rises As Interest Rates Reach All-Time Lows
Trends

Millennial Purchase Activity Rises As Interest Rates Reach All-Time Lows

July 1, 2020
by
Navi Persaud

Ellie Mae's Millennial Tracker found that millennials are securing the lowest average interest rate on a 30-year mortgage since it began tracking the demographic in January 2016. With lower rates and the peak homebuying season upon us, Ellie Mae reported a month-over-month increase in purchase share for the demographic.

The average interest rates for millennials dropped from 3.48% in April to 3.42% in May. Purchase share began to rise from 45% to 47%, which was the first month-over-month increase since November 2019, according to the report.

Click here to read more from Ellie Mae's Millennial Tracker.

Written by 
Navi Persaud

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

npersaud@ambizmedia.com

These articles are powered by National Mortgage Professional

Ellie Mae's Millennial Tracker found that millennials are securing the lowest average interest rate on a 30-year mortgage since it began tracking the demographic in January 2016. With lower rates and the peak homebuying season upon us, Ellie Mae reported a month-over-month increase in purchase share for the demographic.

The average interest rates for millennials dropped from 3.48% in April to 3.42% in May. Purchase share began to rise from 45% to 47%, which was the first month-over-month increase since November 2019, according to the report.

Click here to read more from Ellie Mae's Millennial Tracker.

You might also be interested in: