Today, millennials, also known as Gen Y, are the nation's largest living generation, making up the greatest share of the U.S. workforce.
Using data from Q2 2019 and Q2 2020, the credit bureau found that millennials are keeping up with their debt payments, reducing their credit card balances and increasing their credit scores.
Millennials increased their mortgage and nonmortgage debt levels year over yearDespite their reputation of being renters, millennials are becoming homebuyers as they grow older.
The total average debt number is driven largely by mortgage debt, but also includes credit cards, car loans, personal loans, student loans and home equity lines of credit (HELOCs).
What millennials should be on the lookout for: As more millennials come of home-buying age, it's crucial to understand how credit can help you.
it's, Y, Gen, Rod Griffin, millennials, Griffin, Millennials, CreditWise
Credit, CNBC, Experian Credit, UltraSecure, TransUnion Credit