Of all mortgage consumer segments, Refinancers are most likely to conduct offline research only.
Most use a computer to access online mortgage-related information.
The top actions conducted online include using an online mortgage calculator and comparing interest rates.
About half indicated they would feel comfortable using more technology to arrange their next mortgage transaction; however, face-to-face interaction is still rated as important.
On average, Refinancers contact 2.2 brokers and 2.6 lenders.
Lender loyalty has decreased slightly amongst Refinancers between March 2017 and March 2018.
When asked how they found their lender, almost half of Refinancers indicated that it was their primary lending institution.
Besides a better interest rate, a top reason for staying with their lender is: trust in the existing relationship, while a top reason for switching is: better product terms/conditions.
Refinancers using a lender would have wanted more information on types of mortgages and interest rates.
79% of Refinancers were satisfied with their mortgage lender.
73% believe the value of their house will increase in the next twelve months.
69% felt they were generally comfortable with their current level of mortgage debt.
63% indicated that, if they were to run into some financial trouble, they would have other sufficient assets (investments, other property, etc.) which could be used to supplement their needs.
80% believe that homeownership is a good long term financial investment.
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