Wage growth fuels a shift in how millennials fund down payments

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Wage growth fuels a shift in how millennials fund down payments Millennial homebuyers are increasingly using savings from their primary paychecks to put money down on a home, according to Redfin. Down payments bonnie sinnock april 29. Down payments Bonnie Sinnock April 29.

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The more money you put down when you buy a house the lower your mortgage payments are. Redfin researchers say that the fact millennial home buyers are able to save money from their paychecks to save for a down payment has to do with the 10-year high wage growth for American workers that jumped in February.

More than one-third of millennials said saving for a down payment is the biggest hurdle to buying a home, but few seem to realize they don’t need to put 20% down to get a mortgage, a recent study found. Coming up with a down payment was the biggest barrier for 36.2% of respondents, compared to.

Just 3% of millennials used cryptocurrency to help fund their down payments in the most recent survey, comped to 10% the previous year. Sales of stocks, which declined in value late last year, also were used by a smaller share of millennials to fund down payments.

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Britain registered a record number of cars last year as rising consumer confidence, low fuel prices and easy credit helped crown. being at its highest level in years, combined with wage growth, low.

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Wage growth fuels a shift in how millennials fund down payments Millennial homebuyers are increasingly using savings from their primary paychecks to put money down on a home, according to Redfin. Down payments Bonnie Sinnock April 29. Down payments Bonnie Sinnock April 29. See more from Bonnie.