Millennials Bear the Brunt of Soaring Mortgage Rates While Trying to Buy Their First Homes

Millennials are feeling the brunt of higher mortgage rates as they didn't lock in low rates like older generations. Their mortgage debt has risen nearly 20% while Gen X rose less than 10%.

Higher rates plus record home prices make buying a first home very difficult for millennials today compared to just a year ago.

Boosting credit score, shopping mortgage lenders, and cutting costs can help millennials buy despite headwinds.

If buying isn't feasible, can invest in fractional real estate through apps vs thousands down on property.

High mortgage rates are still below pre-COVID levels, so there are still opportunities for millennials to buy homes.