New Survey Explores Online Homebuying Attitudes – NMP
Industry News

New Survey Explores Online Homebuying Attitudes

Sep 27, 2017
A new survey has concluded that then it comes to researching mortgages, Millennials prefer the D.I.Y. aspect of the online world, while Baby Boomers prefer to communicate with people

A new survey has concluded that then it comes to researching mortgages, Millennials prefer the D.I.Y. aspect of the online world, while Baby Boomers prefer to communicate with people.
 
According to the survey, "The Digital Mortgage Experience: A Study of Shifting Borrower Expectations," from Los Angeles-based Velocify, more than one-third of all borrowers prefer self-service websites, especially during the research stage of getting a mortgage. But as the process evolves, demographic shifts occur. The survey found Millennials were 45 percent more likely to find their lender online than Baby Boomers, who were 87 percent more likely to use their current bank or lender for their home loans.
 
However, only 10 percent of borrowers who received a mortgage in the last year chose their lender based on a referral from a real estate broker. Borrowers who received a mortgage in the last year were 42 percent less likely to find their lender based on a real estate broker referral compared to borrowers two to five years ago. As for the types of loans being pursued, 47 percent of refinancing borrowers used an online lender, compared to 38 percent of purchase borrowers
 
"The most interesting discovery was not how borrower behaviors have evolved, but where they are headed," said Nick Hedges, Velocify President and CEO. "The trend line in our data shows that all borrowers, regardless of age, have a strong preference for more online and digital interaction with their lender. To succeed in this environment, lenders have to put the borrower at the center, which means an easy interface that offers transparency into the entire loan lifecycle, but with humans behind it." 
 
About the author
Phil Hall
Link copied
Published
Sep 27, 2017
Get the NMP Daily
Sales and Marketing
NMP Deep Dive: The AI Workforce

AngelAi demonstrates how AI agents can handle routine mortgage work, increase originator capacity, and reduce operating costs

Artificial intelligence is moving beyond answering questions and generating content. Increasingly, it can complete the routine work that consumes an originator’s day.That shift could allow mortgage companies to increase production without adding support staff at the same rat...

Continue reading
Analysis and Data
Higher Rates Cool July Mortgage Locks While Non-QM Pushes Past 10%

Purchase locks fell 12% from June as the conforming share dropped to 47.3%, extending the mortgage market’s shift toward more specialized products

Higher mortgage rates erased June’s improvement in borrower demand during July, but the retreat in overall activity concealed a continued shift in where mortgage production is coming from.Total rate-lock volume fell 11.4% from June as Optimal Blue’s benchmark 30-year conform...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026