Home remodeling surges

What's Fueling the Home Improvement Craze?

All of these factors have caused homeowners to turn to remodeling as an alternative to moving.

Equity Refinances Surge Despite Higher Mortgage Interest Rates

A sizeable percentage of homeowners are getting cash-out refinancing.2

First-Time Homebuyers Outnumber Repeat Buyers3

Loans to Millennials4

in July 2018

Single millennials make up nearly half the population of homebuyers born 1980-1999.4

Single Millennial Homebuyers

The cost of home purchasing for first-time buyers is expected to continue to rise as fewer homeowners sell "starter homes" and new construction fails to keep pace with housing demand.3

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Working together, we can reach the millennial market and help turn more renters into first-time buyers. Let's discuss a strategy for growing our business together.

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Sources:
[1] BuildFax, Housing Health Report, July 2018.
[2] CoreLogic, a data and analytics company, The MarketPulse Report, August 2018.
[3] eMBS, Federal Housing Administration, and Urban Wire, August 2018.
[4] Ellie Mae® Millennial Tracker, September 2018.

This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.