April 25, 2024 8:16 pm
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Not only are millennials buying homes, they’re refinancing

screen-shot-2016-11-05-at-3-38-42-pmBy Brena Swanson | HousingWire

Quelling rumors that millennials don’t want to buy homes, a new report from Ellie Mae shows that they’re not only buying homes, they’re even to the point they want to refinance.

The overall number may still be small, but it’s growing. According to the latest Ellie Mae Millennial Tracker report, refinances by millennial borrowers accounted for 20% of all closed loans in September, up from 17% of all closed loans in August.

Now compared to all of Ellie Mae’s loans, regardless of age, the data showed that 54% of closed loans were purchases and 45% were refinances.

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