Driving forces behind today's mortgage market

March 24, 2017
Author: New England Home Mortgage

Baby Boomers and Millennials are the driving forces behind today’s mortgage market with Millennials making up roughly 1/3 of the new purchase market.  Both of these segments have a large population and most encounter some life event that often triggers a home purchase.  

For Baby Boomers, they are often becoming empty nesters and looking to down-size.  Or they are retiring and looking to move to a warmer, more active location.  

Millennials are often getting married or having children so they are looking for that first home for their family.  

With over 95% of first time home buyers needing traditional financing, these two groups will drive a major piece of the national housing market. 

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