Mortgage payments are already unsustainable for half of new buyers
Max Slyusarchuk of A&D Mortgage says years of elevated mortgage rates have created a growing pipeline of future refinance opportunities, with rates below 6% potentially triggering a surge in borrower demand.https://t.co/HyJ4SNaNnH
— Mortgage Professional America Magazine (@MPAMagazineUS) July 22, 2026
Millennials carry the heaviest load
Among Millennials, 53% say their mortgage is unsustainable without a refinance, versus 43% of Gen X buyers.
Millennials were also more likely to have purchased expecting rates to drop (79% versus 64% of Gen X), and 45% expect to take on a second job if refinancing doesn’t materialize, compared with 35% of their Gen X peers.
Across all respondents, the fallout if rates don’t cooperate is severe: 40% expect to take on additional work, 22% anticipate relying on credit cards for everyday expenses, and 21% expect to withdraw from retirement savings to stay current.
For brokers conducting proactive mortgage reviews for recent homebuyer clients, the Truework numbers make the case for outreach now rather than waiting for a rate trigger.
Meanwhile, a new annual survey from TD Bank revealed a cohort that is optimistic but stretched, and increasingly open to financial strategies that would have seemed unconventional just a few years ago.
