Consumer Behavior Trends in the U.S.
Mortgage Market
The U.S. mortgage market is undergoing significant generational shifts in consumer behavior. Younger cohorts – primarily Millennials and Gen Z – are entering their prime homebuying years, bringing new preferences for shopping, communication, and trust that differ markedly from those of Baby Boomers. These evolving behaviors carry structural implications for banks and credit unions.
This report examines U.S.-only data and forecasts on how Millennials and Gen Z approach mortgage shopping (e.g. rate comparisons, institutional trust, communication), contrasts these with older generations, and analyzes the risks that traditional lenders face in a digital-first landscape.
The findings indicate that as Millennials become the dominant borrower group in the next 5–10 years and Boomers gradually exit the market, lenders will need to adapt to a more tech-driven, transparency-seeking customer base. We present data-driven insights and visualizations – including generational market share changes, lead conversion funnel inefficiencies, and consumer expectations of digital engagement – to support these conclusions.
Generational Shifts in the Mortgage Market
Demographic trends show a transfer of mortgage market power from older to younger generations. Until recently, Millennials (born ~1981–1996) comprised the largest share of U.S. homebuyers, making up 43% of buyers by some measures. However, the latest surveys found Baby Boomers (born 1946–1964) rebounding to temporarily lead in home purchases – accounting for about 39–42% of recent homebuyers, versus ~28–30% for Millennials.
This swing in favor of Boomers during 2022–2023 is attributed to market conditions (e.g. high interest rates and prices that sidelined some younger buyers, while Boomers leveraged accumulated equity and cash). Gen X (born 1965–1980) has generally comprised around one-fifth to one-quarter of buyers, and Gen Z (1997–2012) only a small fraction so far (a few percent) as the oldest Gen Zers are just now entering their late 20s.
Looking ahead, the balance is expected to shift decisively toward younger generations. As Boomers age into their 70s and 80s, their participation in the housing market will wane. Freddie Mac projects a “gradual exit” rather than a sudden “silver tsunami,” with the number of Boomer homeowner households declining by an estimated 9.2 million between 2022 and 2035.
By 2035, Boomers’ share of total households – and by extension their share of new mortgages – will fall sharply. In the next five years, even as many Boomers continue to exit homeownership, the growth of young adult buyers (Millennials and older Gen Z) is expected to more than offset the decline. Industry analysts forecast that Millennials (who in 2025 range from their late 20s to mid-40s) will dominate the home purchase market through the late 2020s, with Gen Z becoming a rising force by the early 2030s. Baby Boomers’ influence will diminish to roughly 20% or less of the market over the next decade.
Generational Market Share Evolution: The chart below illustrates the generational distribution of homebuyers in 2023 versus a projection for 2033. In 2023, Boomers held the largest share (~40%), with Millennials close behind (~30%). By 2033 (projected), Millennials and Gen Z together are expected to comprise the vast majority of homebuyers as Boomers’ share shrinks dramatically. This transition underscores the urgency for lenders to align with the preferences of younger borrowers.
Millennial and Gen Z Mortgage Shopping Behavior
Digital Research and Rate Comparison: Millennials and Gen Z are true digital natives in their approach to mortgage shopping. Nearly all begin their homebuying journey online. For example, 98% of millennials use online resources to search for properties, and 84% use a mobile device for home searches. Crucially, they extend this digital behavior to mortgage shopping: millennials are more likely than older generations to shop around and obtain multiple loan quotes. On average, millennials obtain six mortgage rate quotes when shopping, compared to about four for Gen X and only three for Baby Boomers.
This propensity to compare rates reflects a desire to find the best deal and a comfort with online rate comparison tools and calculators. Indeed, 61% of new mortgage borrowers now use an online application process to apply for a loan, and millennials in particular value lenders that enable a fully online, paperless experience. In one survey, 92% of millennials said they would choose their bank based on the quality of its digital services, underscoring how vital a strong digital platform is to attract younger borrowers.
Gen Z (the oldest of whom are in their mid-20s as of 2025) are just beginning to enter the housing market, but early indicators suggest they will double-down on the digital and information-intensive habits of millennials. A NextGen Homebuyer survey in 2025 found that 40% of Gen Z use social media as a key source for homebuying research, compared to 30% of Millennials. Additionally, Gen Z leads in adopting emerging tech tools – 35% of Next Gen respondents reported using AI tools (e.g. ChatGPT) for homebuying information, with Gen Z usage even higher at 43% . These buyers are comfortable navigating a wide array of online information, from YouTube tutorials (indeed, 66% use YouTube for homebuying education) to forums and AI-driven Q&A, before ever speaking to a lender. They are less likely to be loyal to any one financial institution at the start; instead, they conduct extensive independent research on rates, loan options, and the reputation of lenders.
Transparency and Trust Expectations: Both Millennials and Gen Z exhibit a strong desire for transparency and honesty in the mortgage process. Unlike many Boomers who often began their buying experiences in an era of relationship banking, younger buyers tend to be skeptical of institutions and insist on clear, upfront information. They “want to know up front what their mortgage payment and costs are going to be,” including all fees – an expectation that has made transparent pricing tools (e.g. online mortgage calculators and guaranteed cost estimates) very popular. Providing such transparency can be key to building trust with millennial borrowers.
In fact, a lack of transparency can be a deal-breaker: surveys note that trust is fragile among younger consumers, and it correlates directly with transparency of information. Millennials are also quick to research peer reviews and third-party ratings of lenders; online reputation matters. Many will read customer reviews and seek advice on platforms (or from friends) about others’ experiences before committing to a lender.
Notably, there has been a steep decline in trust that young consumers place in traditional financial institutions and professionals. According to the 2025 NextGen Homebuyer Report, trust in banks among 18–44 year-old homebuyers plummeted from 61.5% in 2024 to just 40% in 2025, and trust in loan officers fell to a mere 19.5% . Gen Z buyers are generally more skeptical than Millennials – they are quicker to question whether banks, credit unions, or brokers are acting in their best interest. This trust deficit is a product of these generations coming of age during economic upheavals (the 2008 crisis, the COVID-19 recession) and witnessing failures or misconduct in financial institutions. As a consequence, Millennials and Gen Z buyers tend to rely more on independent research and advice from personal networks, and less on the guidance of lenders, whom many view warily. For example, only 20% of NextGen respondents said they trust a loan officer to help them make a smart mortgage decision. Instead, many first turn to friends or family (68%) and real estate agents (63%) as trusted sources of homebuying information, leveraging professionals only after doing their own homework.
Communication Preferences: Younger borrowers’ expectations extend to how they communicate during the mortgage process. Raised in the era of texting and smartphone apps, Millennials and Gen Z overwhelmingly prefer digital and asynchronous communication with lenders – in contrast to the phone calls or in-person meetings that were standard for Boomers. A telling statistic: 75% of Millennials would rather give up the phone call function on their device than the texting function. In a 2016 national survey, 76% of Millennials said they prefer texting over talking on the phone for communication because it’s more convenient and fits their schedule, and 63% said texts are less disruptive to daily life than voice calls. Perhaps most striking, nearly one in five Millennials never checks voicemail at all. Gen Z is following suit (if not even more extreme) in these preferences – an industry article quips that Gen Z and young Millennials are “hung up on answering the phone,” with about 70% favoring text messages over calls for communication with businesses.
What this means in practice is that a loan officer cold-calling a Millennial or Gen Z lead is unlikely to get a response. Traditional outreach methods like telephone calls have low yield with younger consumers, who are more inclined to respond to a text or an in-app message. In fact, lenders have begun training staff to “stop calling your Millennial homebuyers” and text them instead. The preference for digital extends to email and mobile app messaging as well. A recent industry survey (PYMNTS/i2c, 2023) found that 48.5% of Gen Z and 45.7% of Millennials prefer to receive communications through a financial institution’s mobile app, with email being the second choice (around 28–30%) . Generation X was roughly split between app and email, whereas Baby Boomers strongly favored email (46%) or even postal mail (19%) over mobile apps. The takeaway is that Millennials and Gen Z expect communication that is on-demand and minimally intrusive – such as receiving a notification in a banking app, or a quick text update on their loan status – rather than playing phone tag or scheduling branch appointments.
Baby Boomers and Older Borrowers: Traditional Engagement and Market Exit
Baby Boomers (now in their 60s and 70s) and the remaining members of the Silent Generation (late 70s and 80s) have historically approached mortgage borrowing very differently from their children and grandchildren. Many Boomers established relationships with banks decades ago and tend to exhibit greater loyalty to familiar institutions. In the mortgage context, Boomers often first turn to a bank or credit union they already use, or rely on a referral from a real estate agent, rather than shopping extensively online.
Compared to younger buyers, Boomers have been less inclined to shop around for multiple quotes – as noted earlier, Boomers secure about 3 quotes on average, roughly half the number millennials do. Some of this is due to Boomers’ financial position: many are repeat buyers or refinancing an existing home, sometimes able to pay large down payments or purchase with cash after profiting from prior home price appreciation. Thus, they may feel less urgency to scour for the “best rate” if they have an established banking relationship and ample equity. Boomers also have higher homeownership rates and, historically, have been more likely to use all-cash offers in transactions (in 2022, many Boomers beat out younger buyers by buying homes outright from sales of previous homes).
In terms of communication and channel preferences, Boomers and older generations still show a relative affinity for traditional modes. They are far more likely than younger cohorts to visit bank branches and to communicate via phone or in person. A 2024 national banking survey highlighted this stark contrast: only 4% of Millennials and Gen Z said visiting a branch was their primary way of managing their bank account, compared to nearly 1 in 7 Boomers (13%) who still favor branch banking. Similarly, Boomers are more comfortable with phone calls for discussing finances, and many still value face-to-face meetings for major decisions like mortgages – something that only a small minority of Millennials or Gen Z would prioritize. Figure 2 above already reflects how Boomers prefer email and even physical mail from institutions, rather than the app-based messaging younger folks want. These patterns imply that while Boomers generally have adapted to online banking for convenience, they nonetheless appreciate personal touches and may not demand the same seamless digital user experience that younger generations expect.
However, Boomers’ traditional engagement style also means lower tolerance for high-pressure lead generation tactics that some younger borrowers simply ignore. For example, while a Millennial might ignore a cold call, an unsolicited mortgage cold-call might actually reach a Boomer – but that doesn’t mean Boomers welcome it. Lenders must be cautious, as Boomers (like all generations) value trust and may be put off by aggressive sales pitches or a lack of transparency. Fortunately, surveys consistently find that Boomers as a group report higher trust in banks and lenders than younger people do – e.g., prior to the recent decline, over 60% of Boomers expressed confidence in banks. This trust, combined with long-term banking relationships, has historically been a strength for community banks and credit unions that serve older customers.
Impending Market Exit: The influence of Boomers on the mortgage market is peaking and will diminish in the coming years. As noted, Boomers comprised roughly 39–42% of homebuyers in the past year, but this is expected to be their last hurrah as the largest buyer segment. Demographically, Boomers are moving into a phase of life where selling homes is more common than buying. The National Association of Realtors reports Boomers now account for the majority of home sellers(around 52%) as they downsize or relocate for retirement. By 2030, all Boomers will be at least 65 years old; by 2035, as cited earlier, there will be millions fewer Boomer households owning homes.
This slow exodus will release housing inventory (“gradual tide” of the silver tsunami) and reduce the number of new mortgages taken by Boomers. Lenders whose portfolios or customer bases are Boomer-heavy could see a decline in demand from this segment. Boomer share of borrowing might drop to 10% by 2033 (a scenario consistent with Boomers largely aging out of the homebuying market). Indeed, a recent analysis noted that baby boomers’ share of overall financial-service revenues is expected to fall from about 50% to only 20% over the next decade, as they are replaced by younger consumers.
For banks and credit unions, this generational turnover poses a strategic challenge: they must attract and serve Millennials and Gen Z to fill the gap left by Boomers. Institutions that thrived on the loyalty of older customers will need to replicate that trust with a far more skeptical young audience. The following sections discuss how well financial institutions are adapting to younger borrowers’ digital expectations and the risks they face if they fail to do so, especially in competitive cycles like mortgage refinancing booms.
Digital vs. Branch Channels: Usage Patterns by Age
The rise of digital channels has transformed how consumers interact with lenders, and this transformation is strongly stratified by age. Younger borrowers overwhelmingly favor digital channels for both research and the application process, whereas older borrowers use a mix of digital and traditional methods.
For routine banking, the American Bankers Association’s latest survey found that more than two-thirds of Millennials (68%) and Gen Z (64%) use mobile banking apps as their most frequent banking method, compared to only 41% of Baby Boomers (who most often use online banking via a computer instead) . Only 4% of Millennials/Gen Z primarily use branches, versus 13% of Boomers . This comfort with digital banking extends to mortgages. When shopping for home loans, Millennials are the first generation to truly embrace end-to-end digital lending platforms. They not only search for rates online, but often prefer to apply online and upload documents through a portal rather than deliver paperwork in person. In 2018–2019, about 45% of all new mortgage purchase originations by dollar volume were by Millennials, and this coincided with rapid growth in online mortgage offerings (from both fintech lenders and traditional banks).
By 2020, industry surveys showed that 61% of new mortgage borrowers submitted their application online , a figure driven largely by borrowers under 45. Even for refinance loans (often done by older, repeat homeowners), digital usage has grown. Data from McKinsey indicates that across U.S. financial institutions, the share of mortgages originated through digital channels (web or mobile) has risen to about 28% as of 2024 . Among tech-leading banks, over 30% of mortgage sales are now digital, whereas at many credit unions (which skew older in membership) the digital share remains below 10% . This gap highlights that whothe borrowers are matters: lenders with younger clientele see far greater adoption of digital processes, while those serving mostly older customers still close the majority of loans through traditional in-person processes.
Branch utilization for mortgages correspondingly differs. Younger borrowers are generally content to never set foot in a lender’s office; they are comfortable completing applications online and communicating via phone/email if needed. Older borrowers often still want the option of a branch or face-to-face meeting, especially for something as significant as a home loan. However, COVID-19 accelerated digital adoption even for reluctant groups. E-signature of mortgage documents, for instance, became more common (nearly 60% of banks now offer e-sign for loans, up from 56% a year prior).
Many older customers were forced to try online processes during lockdowns, and some continued using them. Still, there remains a “digital divide” by generation: even when digital options exist, older individuals may not utilize them. A McKinsey study noted that Gen Z customers of banks were 20 percentage points more likely to use digital channels for a given product than Gen Z customers of credit unions – implying that the same generation behaves differently depending on the institution’s digital prowess . In other words, younger people will gravitate to digital channels if available, but if their primary institution doesn’t offer a good digital experience, they might stick to traditional methods or take their business elsewhere.
From the lenders’ perspective, digital channels offer efficiency and scalability – but only if the user experience is strong. A poorly designed online application can lead to high abandonment rates across all ages. In fact, many lenders are seeing significant drop-off during the online application process. A large share of users start an application but do not finish if the interface is cumbersome or if manual follow-ups are required. According to McKinsey, 75% of credit unionsacknowledge that their digital loan journey has challenges, with many applications abandoned because users lose patience.
Long forms, unclear instructions, or lack of real-time support can frustrate borrowers – and younger consumers, used to Amazon-like simplicity, are especially quick to quit a clunky process. The implication is that simply having a digital portal is not enough; it must be intuitive, fast, and transparent to meet modern borrower expectations.
Transparency and self-service are also part of digital channel expectations. Millennials and Gen Z appreciate the ability to track their loan status online, upload documents at midnight, or see real-time rate quotes without having to call a loan officer. In surveys, younger borrowers express a desire for more control and visibility into the process – for example, being able to see where their application is in underwriting or to receive instant updates on any additional documents needed . Leading lenders have invested in online dashboards and notification systems to fulfill these expectations. Those that haven’t – for instance, smaller community banks that still rely on phone calls for every update – risk alienating younger clients who may perceive the process as slow or opaque.
In summary, the trend is clear: the future borrower majority (millennials and Gen Z) want to handle mortgages through digital channels to a far greater extent than past generations did. They will still use human assistance when needed (e.g. complex questions, or an advisor role for first-time buyers), but they expect that assistance to be accessible through modern means (video calls, chat, text) as opposed to always requiring an office visit. Banks and credit unions that invest in seamless digital mortgage platforms – while still offering high-touch support on demand – are positioning themselves to win the next generation of borrowers.
Consumer Trust and Experiences with Rate Comparison Platforms
An important aspect of modern mortgage shopping is the use of online rate comparison and lead-generation platforms. Websites and apps that promise to show the “best mortgage rates” or “match you with lenders” have become a common starting point for consumers – particularly younger ones who prefer independent research. These platforms (which include rate aggregators, broker marketplaces, and lead generators) can have a significant influence on which lenders get access to a given consumer. However, they also introduce issues of trust, transparency, and customer experience that both borrowers and lenders are grappling with.
From the consumer’s perspective, the appeal of comparison platforms is convenience and breadth. A potential borrower can submit their information once and receive quotes or contacts from multiple lenders, rather than having to individually shop each lender. According to industry data, a large share of Millennials use such tools to shop around – recall that Millennials average six quotes, and many likely leverage online services to achieve that . Gen Z, being even more digitally oriented, are also apt to turn to whatever apps or websites will quickly show them “the best rate” for which they might qualify.
However, consumer satisfaction and trust in these platforms is mixed. Many borrowers find the experience frustrating once they enter their details: a frequent complaint is being inundated with phone calls and emails from numerous lenders after using a lead-gen site. For example, someone seeking to compare rates might unknowingly trigger a dozen lenders to start cold-calling, which younger consumers in particular find off-putting (as noted, they don’t like unsolicited calls). This can degrade trust in the platform – users feel “ambushed” or that their privacy was compromised. Indeed, some lead generators have been criticized for not being transparent that personal details will be distributed widely as sales leads.
Regulators have taken notice of potential abusive practices in digital comparison tools. In 2023, the U.S. Consumer Financial Protection Bureau (CFPB) issued a circular warning that certain online comparison sites may violate consumer protection laws if they “preference” certain lenders in exchange for fees without clearly disclosing this to consumers .Consumers reasonably rely on these tools to act in their interest – i.e. to provide unbiased, comprehensive comparisons – but some sites only display lenders that pay for placement, steering consumers toward higher-cost or less favorable loans for the site’s own gain . The CFPB cautioned that such practices, where a lead generator conceals its pay-to-play bias, can be considered an abusive act, as it takes advantage of the consumer’s trust . This scrutiny underscores that transparency is a growing concern: borrowers are beginning to question whether the “top rates” shown on a site are truly the best available or just advertisements. If they suspect the latter, their trust in the platform erodes.
There’s also the matter of rate accuracy and bait-and-switch experiences. Seasoned borrowers often warn that the lowest rate quote online may not pan out once the lender sees your full qualifications – sometimes lenders or lead sites will highlight a teaser rate that only the most qualified or specific borrowers could get. Younger, less experienced buyers might feel misled if they click on a 5% rate quote only to be offered 5.5% after application. Such experiences can sour them on both the platform and lenders involved.
On the flip side, many consumers do appreciate the transparency that does exist on some comparison tools, such as the ability to easily compare APRs, fees, and reviews of lenders. There are impartial tools, including the CFPB’s own mortgage rate explorer, which let borrowers see typical rates without providing personal info – these tend to be more trusted because they aren’t lead generators and thus don’t bombard the user with sales calls . Borrowers are learning to differentiate between unbiased comparison resources and lead-gen marketplaces.
For banks and credit unions, these platforms present a double-edged sword. They can be a source of customer leads, but acquiring leads this way can be costly and inefficient. Even high-quality purchased leads might only convert at single-digit percentages. Lenders often have to buy large volumes of leads (paying per lead or per funded loan fees) to get a handful of loans. Many banks, especially smaller ones, also struggle to compete on these platforms because consumers using them tend to be very price-sensitive – the lender with the lowest rate (or fastest contact) wins the lead. This can compress margins and favor lenders who monetize volume over relationship. Additionally, some banks have raised concerns that relying on third-party lead generators can damage their reputation if consumers have a bad experience (for example, if a lead gen sells their data to 10 lenders, the consumer might blame all those lenders for spamming them, even if the bank itself was just one of many and had no control over the process).
Another risk is that lack of presence on these platforms equals lost market access. A bank that opts out of popular comparison sites might preserve a curated customer experience, but they also may be invisible to the growing segment of borrowers who use these sites as their primary search method. It’s a strategic dilemma: participate and fight in the lead marketplace (and potentially compromise on margins or brand experience), or abstain and miss out on digitally acquired customers.
Consumer trust in rate comparison platforms is ultimately still in flux. Younger borrowers want to trust and use these tools – they align with Millennials’ DIY ethos – but their trust must be earned by fair practices. The CFPB’s stance suggests that platforms will need to be more transparent about how results are generated (e.g., disclosing “featured lenders” vs. a full market scan). If transparency improves, consumers could gain more confidence that using these tools truly helps them find the best deal. If not, some consumers may revert to more manual shopping (contacting lenders individually or relying on referrals). Notably, personal referrals remain powerful even for younger generations: the NAR’s 2023 report found that referrals by friends or family were still a primary method for Millennials to find a real estate agent or lender . Trust flows through personal connections more readily than through ads.
In conclusion, the current landscape of rate comparison and lead-gen platforms is a reflection of the broader theme: consumers (especially younger ones) demand convenience and transparency, and if they don’t get it, trust evaporates quickly. Banks and credit unions must monitor how their own practices and partnerships in this space affect consumer trust. They should advocate for or support platforms that treat consumers’ data and choices respectfully (for instance, offering an opt-in for how many lenders can contact a borrower) to avoid the backlash that harms everyone in the ecosystem. More broadly, consumer expectations are that shopping for a mortgage should be as clear and straightforward as shopping for a plane ticket online – a perhaps optimistic analogy, but one that highlights the gap between expectations and reality. Lenders that take steps to meet consumers where they are – providing transparent info, respecting communication preferences, and delivering a smooth digital experience – will be best positioned to thrive as the mortgage market becomes increasingly dominated by Millennials and Gen Z.
Conclusion
The U.S. mortgage market is at a generational crossroads. Millennials and Gen Z are poised to overtake Baby Boomers as the core customer base for home loans, bringing with them distinctly different behaviors and expectations. These younger consumers demand digital convenience, value transparency and trust (while being less automatically trusting of financial institutions), actively compare options, and prefer modern communication channels. Boomers, long the mainstay of many banks’ mortgage business, are gradually exiting the market, and their more traditional engagement style will not carry the industry forward in the coming decade.
For banks and credit unions, the implications are clear. To serve the next generation of borrowers – and to manage the structural risks that come with generational change – lenders must adapt on multiple fronts. Investing in user-friendly digital platforms is no longer optional; it is fundamental to remaining relevant. Lenders should ensure that a prospective borrower can easily find them online, obtain information and quotes transparently, and complete the process with minimal friction. Communication strategies need to shift toward texting, app notifications, and email, with rapid response times and personalized, consultative support when needed (rather than repetitious sales calls). Building trust will require genuine transparency in rates and fees and a consultative approach that puts the consumer’s interest first – an important point given the collapse in trust metrics among young borrowers .
There are also strategic risks in play. In a likely future refinance boom, lenders lacking digital reach and speed could see much of their portfolio refinanced away by agile competitors. The efficiency (or inefficiency) of lead conversion processes will directly impact who wins in a high-demand market. Figure 3’s funnel reminds us that there is substantial room to improve conversion, and doing so can be a competitive advantage. Additionally, banks and credit unions must navigate the ecosystem of rate comparison platforms carefully – finding ways to benefit from the exposure they provide while guarding their reputation and avoiding over-reliance on potentially biased lead sources.
In academic terms, we are witnessing a classic example of technological and demographic forces disrupting an industry’s status quo. The data and trends highlighted in this report – from generational market share shifts , to communication preferences , to trust dynamics – all point to an inflection point in the U.S. mortgage sector. Lenders that proactively embrace these changes by redesigning customer experiences and rethinking outreach strategies can position themselves to thrive. Those that cling to legacy approaches risk losing relevance, particularly with the lucrative Millennial demographic now entering peak homebuying (and soon refinancing) years.
In closing, as Millennials and Gen Z become the dominant mortgage borrowers over the next 5–10 years, the mortgage market will become increasingly digital, data-driven, and borrower-centric. Banks and credit unions face both a challenge and an opportunity: a challenge to modernize and meet higher consumer expectations, and an opportunity to capture a new generation’s loyalty by providing the trust, transparency, and efficiency they seek. The lenders that strike this balance will not only mitigate the structural risks discussed, but also build a sustainable pipeline of young customers to fuel their growth in the decade ahead.
Sources:
ABA/Morning Consult. (2024). Consumer Survey: Banking Methods 2024 – Press Release . American Bankers Association.
CFPB. (2023). Consumer Financial Protection Circular 2024-01: Digital comparison-shopping practices – Analysis and guidelines . Consumer Financial Protection Bureau.
Fuster, A. et al. (2019). The Role of Technology in Mortgage Lending – Federal Reserve Bank of New York Staff Report No. 836 .
McKinsey & Co. (2025). The Digital Imperative for Credit Unions – Insights on generational revenue shifts and digital sales gap .
Messerli, K. (2025). NextGen Homebuyer Report 2025 – FirstHomeIQ/National MI survey findings .
NAR. (2023). Home Buyers and Sellers Generational Trends Report 2023 – National Association of Realtors data on buyer shares and behaviors .
Timios. (2020). What Millennials Want from the Home-Buying Process – Industry blog summary of Millennial buyer habits .
HousingWire. (2017). “Loan officers: Stop calling your Millennial homebuyers” – Article by K. Ramírez on communication preferences .
eMarketer/PYMNTS. (2024). Gen Z’s Banking Communication Preferences – Reported stats on preferred channels by generation .