SURVEY: BUYERS LEERY OF ONLINE MORTGAGE INFO

Source: Fannie Mae

Consumers trust real estate professionals and lenders more than online sources or family and friends when it comes to obtaining information about mortgages, according to a new Fannie Mae survey based on 1,000 responses. Recent home buyers surveyed, including younger age groups, say they consulted multiple sources of information about the mortgage process but found lenders and real estate agents to be more credible than mobile apps, websites, and social media.

Though survey respondents say online sources are more convenient, they indicated a higher level of confidence in getting information through person-to-person interaction. However, home buyers do report using online sources to shop for a home much more often than to shop for a mortgage, according to the survey.

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http://www.fanniemae.com/resources/file/research/housingsurvey/pdf/oct2017-topicanalysis- presentation-mortgage-shopping-influencers.pdf