Mid America Mortgage Blog

Study says 26% of Millennials Plan to Move Back Home After Graduating College

college student moving back in with parents

Under the growing pressure of student loan debt, many U.S. college students are planning to move back home after graduation. According to TD Ameritrade’s Young Money Survey, 26% of millennials who are currently enrolled in college are planning to move back in with parents or primary guardians after earning their degrees in order to help pay back their student debt.

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Housing affordability shows slight improvement in first quarter

house money keys

Higher wage growth and tempering home prices apparently helped offset a rise in mortgage interest rates recently, giving housing affordability a slight boost in the first quarter of 2017, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released May 11. “Ongoing job growth continues to fuel demand for housing, while wage growth is helping to offset the effects of rising mortgage rates and keep home prices affordable,” NAHB Chief Economist Robert Dietz said in a recent press release. “NAHB anticipates that housing will continue on a gradual, upward path throughout the year.”

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Best Cities for First Time Home Buyers

townhouses palm trees

A recent article from CNBC reported that for the first time since the Great Recession, new homeowners are outpacing new renters in the housing market. With more Americans finally making the switch from renter to owner, CNBC and several other housing news outlets are keeping a close eye on who these new homeowners are and where they’re buying. 

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