Millennials Handle Homeownership by Taking Advantage of Refinance Opportunities

▤ Summary

According to the latest Ellie Mae Millennial Tracker, the average 30-year note rate declined to 4.61% in April, down from 4.75% in March 2019. “Interest rates continued to drop in April and Millennials jumped on the opportunity to refinance,” said Joe Tyrrell, executive vice president of strategy and technology at Ellie Mae. The Ellie Mae Millennial Tracker is an interactive online tool that provides access to up-to-date demographic data about this new generation of homebuyers. Given the size of this sample and Ellie Mae’s market share, it is a strong proxy of Millennial mortgage indicators across the country. Searches can be tailored by borrower geography, age, gender, marital status, FICO score and amortization type.

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