Baby boomers overtake millennials as the top homebuyers 📈 Millennials’ buying power surged in 2023 but quickly dropped as rising mortgage rates priced many out. In March 2024, rates averaged 6.65% for a 30-year fixed loan, while the median home list price hit $412,000. Unlike younger buyers relying on savings, many baby boomers used home equity for larger down payments, reducing what they needed to finance at higher rates. Down payments hit a record high in late 2023, driven by equity-rich boom

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