In spite of uncertainties such as rapidlyrisinghome costs, many surveyed families still believe now is a good time to purchase a house, according to the National Association of Realtors. The one market that doesn’t concur? Millennials.

Actually, Millennials are less concerned about purchasing a house before rates of interest increase, and more worried that they wont have the ability to find a house they want, inning accordance with a report from Trulia.

There is, nevertheless, great news for Millennial homebuyers who do step into homeownership.

A research study conducted byGenworth Home mortgage Insuranceat the 2016Mortgage Bankers AssociationSecondary Conference in New York City revealed that, while Millennials postponed homeownership longer than other generations, the industry expects that they are about to move into the real estate market.

The average credit ratingcredit history for Millennials who closed on a home mortgage continues to increase, inning accordance with the most-recentEllie MaeMillennial Tracker, an interactive online tool that provides access to group data about this new generation of homebuyers.

The typical FICO score of Millennial borrowers who closed on a mortgage in June increased to 723, up from 722 in May and 721 in April. TheFICOmortgagescoreis in between 300 and 850. Higherscoresindicate lower credit threat.

Credit ratingsCredit rating, together with conserving for a deposit, are considered a stumbling block for first-time purchasers, inning accordance with a survey by TransUnion.

But is it great news? Or, on the other hand, does it just reveal a tightening up of credit, which could be locking Millennials from the housing market.

For the third month in a row, FHA made up 37% of closed loans in June among Millennial property buyers. This is compared to 60% of Millennials who utilized traditional loans.

Financial unpredictability might be adding to a basic tightening up of credit, which could explain why we are seeing a minor uptick in the typical FICO scores for closed loans to Millennials, said Joe Tyrrell, Ellie Mae executive vice president of corporate strategy.

We also continue to see FHA loans play a significant function in assisting millennials make their homeownership dreams a reality, Tyrell said. These kinds of loans make up 37% of all closed loans to this generation, compared to just 23% of closed loans throughout all generations of homebuyers. TheFederal Housing Administration is a United States federal government agency that guarantees loans made by banks and other personal loan providers for home purchases.

As for the rest of the mortgage market, very little changed from current memory. Besides the slight boost in credit ratingscredit report, much of the other information in the Ellie Mae report reported unchanged conditions from last months report.