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Highlights of the spotlight include:
- 20 per cent of Genworth’s portfolio, at February 2008 was made up of Gen Y borrowers compared with Gen X (44 per cent), Gen Jones (25 per cent) and Baby Boomers (11 per cent).
- Delinquency rates tend to be higher for Gen Y than for other groups, typically performing between 1.0 – 1.5 times worse than Gen X and Baby Boomers.
- The challenge for mortgage lenders will be reaching the Gen Y audience and shifting mindsets. Lenders must learn how to market to them effectively.
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