< Back to all branch locations

With the rise of the internet and smartphones over the past 20 years, prospective homebuyers are steadily changing the way they shop for houses. Many homebuyers are beginning and ending their search online.



image: https://www.newamericanfunding.com/media/4100/growth-in-digital-mortgage-experience_v3.jpg


Going Digital with Mortgages

Here We Grow Again!

Where Homebuyers Found Their Home

92% Do Online Research First

Always be prepared – especially when it comes to buying a home. That’s why most borrowers do online research before reaching out to a lender.

72% Search for Best Rate

Borrowers know what they need … and they need it now. Getting a competitive online loan rate with electronic immediacy and accuracy adds transparency to the loan experience. 

59% Look to Qualify

What loan amount do you qualify for? It’s an important question, and that’s why 59% of borrowers go online to find the answer.

58% Found Home on Mobile Device

As technology advances, so does the loan process, with 58% of homebuyers using their mobile devices to find their home.

3.1 Million New Homebuyers Await

They’re coming … an extra 3.1 million first-time homebuyers are expected to enter the housing market by 2028. Stiff competition for these millennial sales will likely drive more online user-friendly solutions.

7.4% More Homebuyers at Prime Buying Age

It’s prime time for homebuying. Over the next decade, the number of 34 year olds – the median age of current first-time home buyers – is expected to increase by 7.4% from 10 years ago.

45% of New Mortgages Go to Millennials

Millennials now represent 45% of all new mortgages, surpassing generation X and baby boomers as the leading age group seeking to fulfill the dream of homeownership.

Over 90% of Real Estate Firms Have Websites

They’re here already. Most real estate firms have websites with features such as property listings, interactive maps, virtual tours and more. 

71% Use Online Loan Portal

Most borrowers work with lenders who provide an online portal for sharing documents every step of the way – from application to qualification to approval.

82% Online Portal

The reviews are in. Homebuyers and lenders overwhelmingly approve of the online portal experience. After all, it’s safe, efficient and easy to use – what’s not to like? 









Read more at https://www.newamericanfunding.com/blog/going-digital-with-mortgages-infographic/#Ecmjpg7QpHUcA2Qr.99


MBS RECAP: Markets Finally Doing Interesting Things, But...

Posted To: MBS Commentary

We had to wait all the way until January 24th of 2020, but bonds finally offered their first real shred of willingness to challenge the established range of late 2019. When we talk about ranges, we use 10yr Treasuries for these reasons . In 10yr terms, the range has been 1.71 to 1.95%, which is reasonably narrow for a 3 month+ time frame. It looked like the range would be quickly crushed as war with Iran quickly entered the realm of possibility on the night of the missile attacks against Iraqi air bases. But with the de-escalation the following day, the range was actually strongly reinforced. Rates have been trickling since then without more than a 5bp move in 10yr yields until today. That same move also breaks us well below the 1.71% boundary to close at 1.686%. As we often discuss, the first...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Mortgage Rates Drop to 4.5-Month Lows on Virus Fears

Posted To: Mortgage Rate Watch

Mortgage rates moved meaningfully lower over the past 2 days as panic over the coronavirus outbreak continues affecting financial markets. If this epidemic ends up being similar to SARS in 2003, it ultimately won't be worth as much of a drop in interest rates as we've seen so far. But the thing about brand new strains of deadly viruses is that neither the market nor the medical community knows exactly how this will unfold. Until that picture becomes clearer, the market is preparing for more dire outcomes. For whatever it's worth, the timeline of the SARS outbreak spanned 2 calendar years (2002 - 2004) but the most notable market impact was confined to the space of a single month (March 2003). We'll be a week into February before the current epidemic reaches a similar milestone. I'm basing that...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.