March Ellie Mae Millennial Tracker™ Shows Millennials Closing Times Shrink to Fastest Mark
ELLIE MAE (ELLI)
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Source: Business Wire
PLEASANTON, Calif.--(BUSINESS WIRE)-- As the spring homebuying season got underway in March, the time it took Millennials to close mortgage loans for new home purchases decreased to its fastest time yet, at 39 days, down from 41 days the previous month, according to the latest Ellie Mae Millennial Tracker™. The average age of the Millennial homebuyer also slightly increased year-over-year according to Millennial Tracker data. The average age of the Millennial homebuyer in March 2018 was 30.1, a slight jump from March 2017’s average age of 29.5. In March 2018, males were listed as the primary borrower on 63 percent of closed loans to Millennials, while women represented 32 percent, and five percent were unspecified. Married Millennials represented 52 percent of all closed loans while 47 percent were for single Millennials. “With the ongoing adoption of digital mortgage solutions, Millennial h
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