Millennial homebuyers are not actively seeking to buy a house in Orlando, according to a new study by LendingTree.
In fact, out of the 100 cities ranked, Orlando came in at No. 80. See the data here.
Mortgage requests for buyers under 35 were analyzed between Feb. 1, 2017, and Feb. 1, 2018, then ranked alongside data about the average age of the buyer under 35, credit score, down payment and requested loan amount.
The study found cities in the Sun Belt like Las Vegas, Tuscon, Ariz., and five Florida cities as least popular, which could be because of their popularity instead with retirees, as well as high cost of living, according to LendingTree.
About one-third of mortgage requests through the company were from those 35 years old and younger.
And be sure to check out these other Monday headlines:
New project with shops, #homes may be on tap for the area near SunRail station
A South Florida developer is eyeing 18 acres near the SunRail station in southwest Orlando for a possible mixed-use development. The project would include apartments, #luxury townhomes and a two-story office-and-retail building on Sand Lake Road and Orange Avenue. More here.
RESIDENTIAL REAL ESTATE
Images revealed of apartment buildings at Disney’s Flamingo Crossings
Rendering of the community center at Flamingo Crossings
Online mortgage lender expands into Florida, seeks to disrupt the industry
Lenda, an online mortgage company that claims it can close home loans 3.5 times faster than the industry average is expanding into Florida. Lenda uses a predictive algorithm, rather than going through human loan officers, to determine whether a borrower is creditworthy. More here.
N.C. food production biz considers adding 95 jobs in Melbourne
MG Foods Inc., a North Carolina-based food production, packaging, and distribution company, has applied for property tax breaks with Brevard County in order to expand its workforce by 95 jobs, Florida Today reports. More here.
How to get a piece of the work on the next phase of OIA’s new terminal
Orlando International Airport is looking for some help as it plans the next phase of its $2.15 billion expansion. The Orlando airport — the busiest airport in the state — is a huge driver of the area’s #economy and the new south terminal will raise its capacity by 10 million passengers. More here.
Mortgage rates hold steady
Mortgage rates held steady this week, according to Freddie Mac. The 30-year fixed mortgage averaged 4.45% for the week ending March 22, essentially unchanged from 4.44% the previous week. Favorable mortgage rates have helped propel U.S. home sales and the refinance market.
And higher gas prices are on the way
Expect higher gas prices this week, AAA says. The Florida average has risen 10 of the past 12 days, climbing a total of 6 cents. You can expect prices to climb at least another 10 cents in the coming weeks. Gas prices in Orlando currently average $2.48 a gallon.