Millennials Prep for Price, Rate Rises

Mortgage rates are rising—and millennials are noticing.

Ninety-two percent of home-buying millennials in a realtor.com® survey believe higher interest rates will have an impact on their purchase, including a change in desired location, price range and/or square footage.

Other generations are not feeling the impact as significantly. Why? Millennials carry debt and have down payments that are on the small side, according to realtor.com. The most common debt is on credit cards (had by 78 percent of millennials), followed by a car loan (68 percent), a personal loan (62 percent), a mortgage (62 percent), a student loan (61 percent), and a home equity loan (57 percent). When comparing debt by generation, just 49…