Millennials and Gen Zs make up the largest cohort of possible homebuyers nowadays, the the greater part of which are initial-time customers bullish to get a foot on the house ladder. As industry quantity dips and pent-up desire builds, 61% of millennials and Gen Zs who intend to obtain a residence program to implement for a property finance loan this yr.
For several years, the dominant market narrative defining these generations has been electronic-to start with encounters and poor monetary patterns. New details produced in Maxwell’s 1H 2022 Millennial & Gen Z Borrower Sentiment Report, nevertheless, goes further than simplistic stereotypes by digging into the desires, habits and tastes of 1,000 respondents organizing to implement for a property finance loan about the subsequent couple many years.
As home loan rates rise, stock continues to be minimal and electronic traits accelerate, navigating the modifying borrower landscape demands tailored methods. Mortgage officers