Elina Tarkazikis is a reporter for National Mortgage News. She is a graduate of Ramapo College of New Jersey, where she was the founding editor in chief of the school's chapter of HerCampus.com and a staff writer for its student-run publication, The Ramapo News. She has previously worked for The County Seat in Hackensack and Elvis Duran and the Morning Show, iHeartMedia's nationally syndicated radio program. Elina is also a licensed real estate agent in New Jersey, adores pets and speaks three languages.
Mortgage borrowers collectively hold more equity in their homes than at any other time on record, but while some analysis shows they've been slow to borrow against this newfound wealth, credit union home equity lending was up significantly last year.
While the industry continues adopting digital mortgage methods, homebuyers expect to be able to apply for a mortgage and complete the application online, but still want human interaction, according to Ellie Mae.
Close to a third of all home purchases were made by millennials over the past year, but tight inventory and affordability issues prevented them from reaching their buying potential, according to the National Association of Realtors.