The impact of stable mortgage rates was evident in November’s pending home sales data from the National Association of Realtors. At the national level, sales rose 3.3{7de533e94389446af5143a9bf060c91c681d1e34f985dbdf694d5c0ef7221a6c} on a monthly basis and 2.6{7de533e94389446af5143a9bf060c91c681d1e34f985dbdf694d5c0ef7221a6c} year over year.
Once viewed as a niche option, private lending has rapidly entered the mainstream as more borrowers discover the speed, flexibility, and accessibility of private credit financing. But as the industry attracts new borrowers, it is also evolving with their needs, particularly in the balance between short-term and long-term loans.
The median first-time homebuyer in the U.S. in 40 years old, which is a record high. One of the main reasons is that Millennials typically delay ownership by about 7 years, and Gen Z only have a 26{7de533e94389446af5143a9bf060c91c681d1e34f985dbdf694d5c0ef7221a6c} homeownership rate by their late 20s, far behind previous generations.