PLEASANTON, CA—With interest rates nearing 3% for all loans, many millennials took advantage of the opportunity to refinance their mortgages in September. That is according to the latest Ellie Mae Millennial Tracker report.
According to the report, refinances climbed to 43% of all closed loans for millennials in September, up 3% from the previous month. Refinances accounted for 51% of Conventional loans in September, the highest percentage since June, and up from 48% just the month prior.
In September, older millennials locked in slightly higher interest rates of 3%, on average, compared to 2.98% for younger millennials. With interest rates historically low, the share of refinance loans increased for both sub-groups of millennials.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
