Percentage of Millennial Home Purchases Continued to Increase in June, According to Latest Ellie Mae Millennial Tracker
ELLIE MAE (ELLI)
Last ellie mae earnings: 2/14 08:00 am
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Source: Business Wire
PLEASANTON, Calif.--(BUSINESS WIRE)-- Mortgages to Millennial borrowers for new home purchases continued their ascent in June, accounting for 91 percent of closed loans, according to the latest Ellie Mae Millennial Tracker™ report. In May, 90 percent of closed mortgages to members of the generation were for new home purchases, up from April’s 89 percent, and January’s annual low of 81 percent. This is in correlation with the Census Bureau’s latest quarterly homeownership and vacancy report that shows homeownership across Millennials age 35 and younger increased slightly, representing 36.5 percent of all homeowners, compared to 35.3 percent in the first quarter of 2018. Conventional loans remained attractive among Millennials, representing 69 percent of all loans closed in June, a slight uptick from 68 percent in May. FHA loans represented 27 percent of all closed loans to this generation, down one p
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