Gen-Z mortgage borrowers have doubled in a year

Gen-Z consumers have started to buy homes, according to the findings of TransUnion’s Q2 2019 Industry Insights Report.

Data from the report revealed that mortgages for Gen-Zers had the biggest annual growth rate compared to other kinds of loans such as auto loans, credit cards, and personal loans.

The share of Gen-Z (born in 1995 or after) borrowers who took out a mortgage in Q2 2019 has soared 112% to 319,000 year over year. In 2018, 150,000 Gen Z borrowers had taken out a mortgage in the second quarter.

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Source: Mortgage Professionals of America | Candyd Mendoza