Single, female millennials are buying more than their counter parts; FHA is increasing their loan li
Ellie Mae’s latest “Millennial tracker” data showed that 60% of women who were listed as the primary borrower in October were single… as compared to the 42% that were single men. Even though men make up the lion share of the overall Millennial borrower population, most of them are married. As we continue to see Millennials exercise their buying power… make sure you’re
marketing your products accordingly. Here is an article that goes into more details about Ellie Mae’s newest report.
Did you see that in an effort to keep up with the agencies (I wanted to use a Jones’s pun there, but I couldn’t pull it together… it’s Friday give me a break) FHA has updated their new schedule of loan limits for 2018? Yep, high-cost areas across the US will see FHA’s loan limit ceiling increase from $636,150 to $679,650 and the floor increase from $275,665 to $294,515. With home values on the rise across the country it only makes sense for the FHA to increase their limits alongside the agencies. I found a good site for the downloadable PDF’s that show the county specific ceiling and floor amounts here.
As everyone prepares for the holidays it appears that all else is calm in the industry… obviously besides all of the uncertainty at the CFPB, Senators looking to push through agency reform, cryptocurrency is worth more than actual paper money, our President has developed some sort of unidentifiable lisp… and most importantly Wall Street experts are just waiting for the next stock market crash. Tis the season to be merry!