Millennials outrank Boomers on recent mortgages
The days of Millennials sitting on the homebuying sidelines have now come to an end. According to new data, the generation is now taking out the largest dollar share of new mortgages in the nation.
According to a new analysis from Realtor.com, Millennials now account for the largest share of new mortgages by dollar volume — outranking both Generation Xers and Baby Boomers. They now make up 42 percent of all mortgage dollars originated in the U.S.
The generation already claimed the largest share of mortgage loans numerically, taking out almost half of all new home loans in December. Generation Xers accounted for 36 percent, while Boomers accounted for 17 percent.
Source: The Mortgage Reports