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  • 10.19.16

Millennials are taking out mortgages (finally)

Say what you will about student loan-burdened millennials and their lack of interest in cars and diamond rings. As it turns out, this rising generation is just as interested in the conventional big purchases that define adulthood—but on its own terms. 

New data from surveys and credit unions show that millennials now comprise more than half of first-time home buyers. Moreover, eight years after the financial crisis, mortgages to first-time home buyers have finally returned to 2001 levels, suggesting greater demand in the market overall. 

Next up: minivans. AH