Homebuyers Face Another Hurdle As Student Debt Payments Resume

The American dream of homeownership has historically been symbolic of financial success. But for millennials burdened by student loan debt, it feels more elusive than ever now as student debt payments resume. While some millennials were able to cross the finish line to homeownership when mortgage rates were at record lows during the pandemic. First-time homebuyers now have several hurdles in their way, including student debt.

For more than a year, prospective homebuyers have faced a perfect storm of high interest rates, rising home prices, a shortage of inventory, and rising insurance costs. Now, they must grapple with the additional burden of monthly student loan payments.