Digital mortgage discussions are everywhere! Blogs, news, and trade shows can't stop talking about them and their impact on the current and future mortgage industry.
What are consumers saying and feeling about digital mortgages? What are the benefits and the drawbacks? We've compiled a list of the best, most up-to-date statistics available to shed more light on this important mortgage trend.
STATISTICS TO KNOW
Millennials account for 36% of homebuyers in the market.
More than 50% of all loan applications in the past two years included some online or mobile component.
67% of those with an existing home loan would feel comfortable completing a home loan application on a laptop or desktop computer, and 29% would be comfortable using a mobile device.
More than 30% of borrowers reported not comparison shopping for their mortgage.