Gen Z now accounts for nearly 20% of rate locks and about a third of first-time homebuyer loans, relying heavily on government-backed financing. Non-traditional down payments, including family gifts and loans, have reached a seven-year high at 29%. Gen Z and Millennials make up two-thirds of purchase mortgage volume, while Baby Boomers hold 11%. Home prices grew 1.3% annually in June, with rising inventory suggesting softer future gains. Modern technology and down payment assistance programs are key to serving younger buyers.