2011 Mortgage Consumer Survey Transcript

Buyers continue to view homeownership as an investment and take time planning their purchase, with 86% of recent homebuyers agreeing that homeownership is a good long-term investment and on average, taking 11 months to plan their purchase. 

Mortgage consumers seek out and value advice from mortgage professionals, as noted by the 81% of recent buyers who at some point during the homebuying process relied on a mortgage professional for advice and consultation. 

Mortgage consumers use a variety of information sources throughout the mortgage process, with 65% reporting they used  online resources at some point of their research. Of those who noted using the internet, 75% used an on-line mortgage calculator

Mortgage consumers engage in pro-active shopping and are confident about their mortgage choices, as noted by 65% of consumers who independently compared the costs of different interest rate scenarios on different amortization or payment schedules.

Post mortgage contact could be beneficial to maintaining and growing business. Over two-thirds of mortgage consumers who had been contacted by their mortgage professional since their most recent mortgage transaction, completely agreed that they would contact the same professional for advice on future mortgage needs, compared to less than 50% of those that had not been contacted. 

Mortgage consumers are pro-actively paying off mortgage sooner, as evidenced by the fact that 39% of recent buyers have set their mortgage payment to a higher amount than the minimum required.